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It is evident by the numbers that Americans are fed up with corporate disillusions of job security, dwindling employee benefits, and unfair or inadequate pay grades, as record numbers of Americans have become self-employed. According to a 2005 study by the U.S. Small Business Administration and reported by USABizMart, there were 29 million small businesses and 19.8 of those had no employees.

This is the highest level of self-employment we have seen in this country to date. In addition, the U.S. Census reports that in 2007, 5.4 million Americans work at home, although that figure does not break down how many of those Americans are self-employed or work for an employer at home. However, it is assumed that many of those home-based workers are self-employed contractors, freelancers, and consultants. Because of these high self-employed statistics, more laws, lobbying groups, and organizations are in place for protecting the rights and benefits of the self-employed and their beneficiaries.

There are many different levels of estate planning protection that are needed by self-employed Americans depending on the assets in the estate. I have been self-employed for eight years and at the highest point of owning several properties, our corporation had a net worth of close to $1 million. Much of my time was spent on researching estate planning to protect these assets.

In some cases, I consulted with our CPA and our business attorney for guidance in self-employed estate planning. As a disclaimer for this article, I am neither a CPA nor an attorney, and the tips I provide are meant only as a research tool for you to consider along with your CPA, business attorney and beneficiaries.

Top Ten Tips in the Estate Planning Guide for the Self-Employed:

Get Durable and Medical Powers of Attorney

This is crucial in estate planning so that in the event of your inability to run your self-employed business, someone has the authority to access and manage your financial assets, make business decisions for your business, and consult with medical staff in the event of illness or accident. In my case, the primary power of attorney was my husband, and the secondary power of attorney was my daughter. It is critical that you use the legal power of attorney form for the state in which you live. Powers of Attorney laws vary from state to state.

You can save on lawyer fees and for a small fee do your own Powers of Attorney using forms from any office supply store or from online resources like USLegalForms.com. I used the forms from this online site and filed a recorded copy of the Powers of Attorney with each primary and secondary person, as well as in our business attorney’s office. I also provided a copy of the Medical Power of Attorney to my primary doctors and closest hospital where I had medical records.

Have Several Bank Accounts With Various Rights of Survivorship

If most of your self-employed assets are liquid and you don’t have a lot of real estate properties, this can be helpful if you simply want to include several relatives in your estate planning without the use of a Last Will and Testament. In my case, I had six bank accounts that all listed different beneficiaries in the event something happened to me. These people did not have rights to manage the account or access the money unless I died. The bank officials can help you decide which types of rights are best for your own situation. In fact, you probably don’t want your children to have equal rights on your bank accounts. In the event of a bankruptcy, your children’s credit status would also be negatively affected.

For critical information about using bank accounts for self-employed estate planning, read this FDIC Consumer Alert, titled Fall 2005 – A Special Guide for Seniors and Families:Naming Names – Points to Consider Before Giving Friends or Relatives Access to Bank Accounts and Safe Deposit Boxes

Get a SEP or Keogh Self-Employed Retirement and Pension Plan

SEP stands for Simplified Employee Pension. Starting a SEP plan is a good self-employed strategy for both a tax benefit and an estate plan, but there are things to consider about a SEP depending on how many employees you have. Also, depending on the state you live in, most assets in these types of plans are exempt from bankruptcy laws, so if your business fails, you do not lose the money you have contributed to these types of self-employed pension plans. In my case, we had a very good SEP with Fidelity. For more information about starting a SEP, visit this U.S. Department of Labor web site with detailed information and resources for starting a SEP.

Get a Last Will and Testament

This is critical for self-employed people that have more than cash in their self-employed estate assets. Once again if your assets are limited, for a fee of around $20, you can create your own Last Will and Testament using the form at USLegalForms.com.

Consult a Lawyer About a Trust Fund for Larger Estate Assets

If your self-employed business has larger assets including real estate holdings, large cash amounts, securities, inventory, and significant tangible property like valuable jewelry, equipment, appliances, and other furnishings, you should consider setting up a trust fund for your beneficiaries to reduce the amount of inheritance tax they must pay from inheriting the value of your estate. Depending on the type of trust fund you set up, you may also have tax benefits from setting up the trust fund before you die. There are many different types of trust funds for various estate plan objectives and the laws about trust funds vary from state to state. For more general information about trust funds, you can visit the Family Education web site, but my best advice for you if to consult a family lawyer in your state.

Consider a Special Life Insurance Policy Designed to Protect Liquid Assets

This was a jewel that I learned about after going through a business bankruptcy when our gasoline distributor filed for bankruptcy causing our own business to fail. We had Universal Life Insurance policies with State Farm Insurance Company and all of the cash value we contributed for 25 years was exempt from bankruptcy. If your business is risky, volatile, or cash heavy, you may want to shield those assets in this kind of life insurance. This is an even stronger shield than contributions to a self-employed retirement plan because in some states, if you file for bankruptcy, the courts can take up to one year of your last retirement plan contributions if they think you were trying to protect losing your money in bankruptcy. But in most cases, they cannot take your life insurance money. For more information about using life insurance and annuities for estate planning, visit with your insurance agent and read this article titled, Creditor Protection for Life Insurance and Annuities.

In addition to using life insurance policies to protect your self-employed estate assets from creditors, there are times when you want to name your estate as the beneficiary of your life insurance proceeds rather than a person’s name. Depending on the legal entity of your business or your personal family situation, there may be stronger estate tax shelters for you and your beneficiaries by naming your estate as the life insurance beneficiary. In my case, the legal business entity was an S-Corp in Texas. There were special reasons and tax implications for naming my estate as beneficiary of my life insurance proceeds since most of my assets were held by the corporation. Your life insurance agent, CPA, or family lawyer can provide more information about this estate planning option.

Consider Gifting, Transferring, or Selling Assets to Beneficiaries Prior to Death

This is certainly a consideration you should consult with a lawyer and tax advisor before deciding to do. There are several reasons why this may be a valuable step in your self-employed estate planning. In most states and under federal law, bankruptcy courts look at transfers of assets as far back as three years. If you are in a risky business and have valuable assets, AND you can trust your children or other beneficiaries, you could save the asset from bankruptcy by placing it in someone else’s name or selling it to a beneficiary for a small amount. Before doing this, you must also consult with a CPA because this has tax implications, capital gains implications, and could affect your beneficiaries’ taxes before and after you die. This is a complex estate-planning tool but it actually saved one of our $50,000 properties from being taken by the bankruptcy courts. More information about gift taxes can be found at this Internal Revenue Service web page, but my advice is to consult with a lawyer and CPA for the best strategies and decisions.

Seriously Look at Medicare and Medicaid Laws in Your State

Most self-employed people do not consider what would happen to all their assets if they have a medical condition that lands them in a long-term care facility. Most self-employed people cannot afford to privately pay for either the long-term care facility or for long-term care insurance. When we owned our store, ALL of our income was generated from the profits of the business and ALL our assets were subject to be taken away if we had to rely on Medicare and/or Medicaid for long-term care. We could not afford long-term care insurance and we would never be able to afford to privately pay for a long-term care facility.

This is another good reason you might want to consider placing your assets in the name of an estate beneficiary after consulting with a business lawyer and CPA. In my case, without putting the business properties in our daughter’s name, the only way my husband and I could protect our Texas properties in the event one of us was put in a nursing home, was to get a divorce and place half of the assets in one name and half in the other’s name. The Medicare and Medicaid laws vary from state to state, but the federal Medicare and Medicaid laws are very clear as to what is exempt and what they can take. If you are an older self-employed person, in bad health, or you run a dangerous business where injuries and disabilities are likely, you should seriously consult a business lawyer to explore options for protecting your estate assets from Medicare and Medicaid.

Join A Small Business Lobby Organization for Estate Planning Benefits

There are many reasons to join small business organizations if you are self-employed. Many of the benefits described thus far in this Guide to Estate Planning for the Self-Employed are offered through these large national organizations. I belong to three organizations with great investment, benefits, and estate planning resources:

The National Federation of Independent Business (NFIB)

The annual membership for NFIB is around $10. NFIB has consistently been named by Fortune as one of the top ten small business lobbying groups in America. The NFIB also has very strong local lobbying power and will fight for business, tax, and estate planning laws for self-employed at all government levels.

The American Association of Retired Persons (AARP)

AARP is also consistently named by Fortune as one of the leading lobby groups in Washington. AARP members can count on great advice and resources for senior self-employed estate planning and lobbying for laws and rights of retired persons who are now self-employed.

Industry Related Association

In my case because I owned a convenience store, I belonged to the National Association of Convenience Stores (NACS) that also provided great advice and resources for self-employed benefits and estate planning tools. This organization was also a powerful lobbying group for the best interests of self-employed people.

Consider Using Your Lawyer or Other Objective Person As Estate Trustee

In the event that your estate goes into probate, which means legal questions remain about the disposal of its assets or that your estate is contested by any of your beneficiaries and rejected heirs, you want to make sure you have an objective outside person managing the estate. Consider naming someone from outside your self-employed business who does NOT have a vested interest in the rights of your assets as the person named as executor of your Last Will and Testament or is named as Trustee of your estate. In my case, I named our business lawyer as our Estate Trustee. Your estate will have to pay fees to this person, but that is usually the case in most third-party objective executors and trustees anyway. In the long run, it could save family members a lot of legal fees if they prolong the estate probate.

Sources:

U.S. Census

USABizMart

http://freelongtermcareinsurance.com

A Sample Financial Planning Notebook and Diary

I Goals:

Short-term Goals (1 year or less)

1) To make it through the school year with a minimal amount of loans.
2) Minimize excessive spending.
3) Finance a car or truck after researching.

Medium-term Goals (2-10 years)
1) Pay off college debt.
2) Save for a down payment on a house.
3) Start solid retirement and college funds.

Long-term Goals (10-80 years)
1) Completely purchase a home.
2) To live modestly and comfortably. I do not need to own the fastest cars, but I do not want to have any serious financial burdens.
3) To retire happily.

Are your goals detailed? Specific? Complete?
My goals are somewhat vague because there is a lot of grey area in my financial status. Right now I need to manage my debts to the best of my ability, and make sure to finish college. Currently I am changing my status from dependent to independent, so my financial aide from Texas Tech should improve immensely for the spring semester.

II Personal Financial Statements and Budget

Develop and provide explanations on, your:

Balance Sheets

Inc/Exp Statements (track for 2 months or more).
Need more time to accurately prepare balance sheet, inc/exp statements, and calculate my ratios.

Financial Ratios? (solvency, liquidity, savings).

Solvency- Net Worth/Total Assets

Liquidity- Current Assets/Current Liabilities

Savings- Cash Surplus/Net Income

What can you do to improve these in short/long term?
Short term: I would like to find a good paying job in the summertime that could really help with expenses.
Long term: Make sure to pay off college loans before making other large purchases.
Create a budget based on your inc/exp statement:

Random Spending
$395

Apartment Rent
$350

Food and Groceries
$50

Cellular Phone Plan
$40

Gas Money for Friends
$300

TOTAL
$1135

Forecast, Actual, and Differences with explanations.
My actual is always more expensive than my forecast. I need to allocate more money for random purchases/emergencies. Often I do not take into consideration that I will need to buy an ink cartridge soon, buy new light bulbs, or purchase specific tools for classes. Sometimes trying to calculate all of the tedious and infrequent expenses takes too much time, and can be exhausting.

What can you do to follow the budget (better) now/future?
Take budgets more seriously. If I am going to take the time out of my day to make a budget, I need to follow it. I should post the budget on the walls in my room.

III Cash Management

What is your current cash management framework?
I revolve my cash management around a few important things to me, and try to exclude everything else. I take money out of my checking account for items such as apartment rent, food, tuition payments, continuing hobbies (lifting weights, guitar, sports), and of course having fun with friends and family. I like to estimate what monies allocated for hobbies and random fun will be, however the estimate is always less than the actual for me.
Create a chart to show your financial institution's:

Current interest rate on savings:
I do not have a savings account with any bank. I plan on obtaining a savings account next semester.

Current interest rate on checking. Costs?
The current interest rate (APY) for my amount balance is 0.10%. Monthly service charges are waived because of my relationship with the bank.

Current rates on other cash management tools. Costs?
I keep my cash management tools simple, and I do not have to write checks often. I purchase one new order of checks per year, but normally because my address has changed from the previous year.

What cash management vehicles do you plan to use at future stages of your life?
In future stages of my life I plan on having a little bit of every cash management vehicle. I would like to have a checking account linked with my savings account to have overdraft protection. I would also like to have other liquid assets such as money market mutual funds and/or money market deposit accounts.

In all of this, explain where your emergency fund is.
I do not currently have an emergency fund. I suppose my Uncle Dave would co-sign on a loan if I desperately needed money. I plan on fitting an emergency in my financial budget for next semester.

IV Auto and Housing Decisions

On separate pages for Auto and Housing, identify and discuss your short/med/log term car and home plans in terms of lease/rent/purchase. Identify and discuss what/how your current auto/housing influence or support future goals, budget, and credit.

Short term plans: I would like to continue renting housing throughout college. Right now I am renting at University Trails. I would like to finance a car or truck sometime this year.

Medium term plans: Possibly rent a home instead of apartments in my last year or two of college. Hopefully by this time I will have a car or truck entirely purchased. At the end of my medium term plans I want to have enough saved for a down payment on a home.

Long term plans: Purchase a home, purchase cars for my wife and I, and provide automobiles for my kids as long as their grades are good. I would like to own a Lake House or Beach House as a weekend getaway from my first home.

Current Conditions: I do not own a car or home at this time. The lack of bills allows me to build my credit, and hopefully save for a car in the future. Right now, not owning a car or home fits within my budget which will allow owning cars and homes in the future a possibility.

V Credit and Debt Management

Type of user: I try not to use credit cards excessively; however I do make a couple purchases on credit each month to establish a good credit score.
Visa Platinum with $1700 Available Credit: Annual percentage rate of 13.74%, fee structure of
Kohl's Credit Card with $1000 Available Credit:

Improving Credit Card Usage: I want to continue using my credit card as I have in the past.

Type and Number of Cards: Currently I have two forms of credit, a visa platinum card and Kohl's credit card. Right now my credit cards are suitable for my lifestyle, but I am sure I will not be shopping at Kohl's my entire life. I do not want to exceed two credit cards at a time. Copy of Credit Report from Experian is attached

Double Check: I made sure to check my name, addresses, number and type of accounts, payment history, and credit score.

Maintaining my Score: I will keep using my Gold Check Card for the majority of my purchases; however I will make a few purchases on credit monthly to maintain solid credit.

Current Consumer/Student Loans outstanding: $0

Debt Reduction Strategy (short term): I will consolidate loans if I need to, and reduce spending to match my current financial situation.

Debt Reduction Strategy (long term): I will keep savings and retirement a priority and vacations second, I will constantly update budgets and statements, and I will hire a personal financial planner.

Family Goals: I have spoken with my uncle who is helping maintain my financial security, and he wants me to have the smallest amount of loans possible. The lifestyle is frustrating, because family members' help as little as possible, which means you, have to live as cheaply as possible. However, I understand my family's position, and I support the route of continuing education with small credit and loan balances.

VI Insurance Planning

A. Life Insurance- Since I am 21 years old with no dependents or expensive assets, I have no need for life insurance. With my limited income, life insurance would actually hurt my income. Later in life when I have a family and expensive assets, life insurance will be needed. I will want my family to live comfortably if I should die. With a term period of 20 years, and a coverage amount of $150, 000; my monthly premium is estimated at $42.30.

B. Health Insurance- Unfortunately, I do not currently have health insurance. Since I will soon be independent from my father, and my income is too low, I currently am not insured. I would like to be under a managed care plan which allows users to contract with and make monthly payments directly to the organization that provides the healthcare service. Eventually if I live in a big city, I will more than likely take advantage of the Health Maintenance Organization (HMO) which is an organization of hospitals, physicians, and other providers who provide comprehensive coverage. Previously I was under HMO and the plan enabled us to have quality doctors for a low price. Under UniCare's FIT 500 Plan I will have $30 patient visits, 20% in-network in-patient hospitals, maternity leave not covered, and a deductible of $500, my monthly premium is estimated to be $279 dollars.

C. Disability Insurance- I will not buy disability insurance now, but I will consider buying a small policy now with a rider that will let you buy more later. Key information to consider when purchasing disability insurance includes 1) the definition of disability, 2) benefit amount and duration, 3) probationary period, 4) waiting period, 5) renew ability, and 6) other provisions. With monthly income $300, monthly expenses $1, 250, 12 months of disability, and 6 months of coverage, my current shortfall is $875 each month.

D. Auto Insurance- I do not have a car, and probably will not in the near future, so I do not need auto insurance.

E. Renter's Insurance- I need to consider obtaining a policy under Renter' Form HO-4 that covers furniture, carpets, appliances, clothing, and most personal items. For only about $200-$250 a year, I could obtain abut $15, 000 in coverage.

F. Long Term Care Insurance- All the odds are in favor of me opting out of long term care insurance until I reach a very old age. First, I am not even sure if I will be wealthy enough to need to preserve assets for dependents, premiums can be as much as 5-7 percent of annual income, I have no history of disabling disease, and I am a male who typically does not need long term care as much as women.

VII Investment Planning

Objectives: To be a smart investor by maintaining a variety of investments such as common stock, bonds, mutual funds, and real estate.

Constraints: I am a college student, so I literally have no money to invest.

Asset allocation: Since I do not have any investments, asset allocation does not apply to me.

Current Investments: $0

Re-Balance Plans: Undetermined

Future Investments: 5-10% of my yearly income will be distributed among different investment vehicles.

Future Allocation Plans: Besides any real estate plans in the future, I will distribute my money equally among common stock, bonds, and mutual funds to ensure a stable but increasing savings.

In the Future: After paying major bills such as mortgage and college tuitions, I will heavily increase my investments.

Emergency Fund: I would like to allocate an amount equal to 6 months of my salary.

Broad Market Index: Covers 26 Developed World countries and 26 Emerging Markets countries. It includes all listed shares of companies with available market capitalization of at least the local equivalent of US$100 million.
Mutual Funds information attached

VIII Tax Planning

2006 1040EZ form is unavailable because the form was necessary for my dependency override. West Hall at Texas Tech University currently has my form, and I will be receiving the statement back shortly.
Marginal tax rate is 10% because my income was between $1-$7300.
Average tax rate is 0%, because I had zero taxable income.

Strategies:
1) Maximize my 401(K)
2) Contribute to an IRA
3) Defer bonuses
4) Accelerate capital losses and defer capital gains
5) Use the gift-tax exclusion to shift income
6) Invest in treasury securities
7) Consider tax-exempt municipals
Give appreciated assets to charity
9) Keep track of mileage driven for business, medical or charitable purposes
10) Take out a home-equity loan
11) Bunch my itemized deductions

IX Retirement Planning
Lifestyle: I want to travel with my spouse on a yearly basis, and maintain a comfortable living environment. I want to have excess money to purchase gifts for grandchildren and family.

Retirement Planning Strategy: Social security benefits will probably not exist when I retire, so I am not considering this as an option for planning. However, I do want to begin my retirement savings immediately after finishing college. I realize that having kids is a huge financial burden, so saving for retirement before having children is important. My retirement income will probably be based from social security [highly unlikely], earned income, income-producing assets, and pension plans.

Retirement Importance: Having enough money to relax and enjoy life after work is crucial. Starting early and remembering to save for retirement despite other financial burdens is key.

Social Security: Most are eligible for social security benefits between 65-67, and can receive benefits by 1) taking the full benefits to which each is entitled from his or her account or 2) take the husband and wife benefits of the higher-paid spouse. The benefits of each route must be accurately measured to determine the correct course of action. If I am a retired worker and have a spouse and we are both 66, the payment amount for an average worker is roughly $2, 072.

Contributory pension plan: I will probably work for a company where I bear part of the cost of benefits. I hope to have a plan where I pay half the annual contribution and my employer pays the other half. I would like my portion to be taken under a payroll deduction plan.

401(k) Plan: I want a 401(k) in order to maintain a company-sponsored tax-sheltered savings account.
Roth IRA: I want to eventually fill a Roth IRA to its maximum each year to take advantage of tax-free withdrawals.

Social Security Statement: I filled the form out online, but my statement has not arrived in the mail.

Investment Strategies: Develop a sound 401K, and maintain a Roth IRA fund to make up for the lack of social security benefits. I believe picking a quality home is also essential in hopes the value of the home will increase over its life.

X Estate Planning & Wills

Strategy:
1) Make a financial power of attorney
2) Protect my children's property
3) Consider life insurance
4) Name pay-on-death beneficiaries
5) Avoid estate taxes
6)Cover funeral expenses
7)Store my documents in a safe and secure place

Will importance: A will is crucial to ensure the people I love inherit my property after I die.

Will elements: Elements needed to prepare a will include personal data, property, life insurance, health insurance, business interest, employee benefits, family income, family finances, listing of liabilities, and an authorization for information.

My Will: If I were to die today, I would give make my brother the executor and beneficiary of half my estate, and the Waltons the beneficiary of my other half. (Please keep in mind my entire estate would probably not exceed $5, 000.

Estate Tax: The Federal estate tax is imposed “on the transfer of the taxable estate of every decedent who is citizen or resident of the United States.” There is no telling what the estate tax will be when I am old, but I need to worry about the subject when I am nearing the end of my retirement.

Using a trust: A grantor transfers property to a 2n d party, called a trustee. The trustee holds the property for a 3rd party, called the beneficiaries. The trustee is charged with keeping the property until the grantor indicates that the property be moved to the 3rd party beneficiaries. This could be used in order to avoid paying taxes in a higher bracket. This would also be used if an heir is a minor. In that case, the grantor might not want his heir to take immediate control of the assets.

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For many in their sixties, financial planning amounts to finding the places that give the best senior discounts and getting a job greeting people as they enter Wal-Mart. They have not had a financial strategy for six decades. So, they conclude that there is no good reason to start planning now. The reality is that starting in the early sixties and extending through the mid-seventies should be a time when many people can make some smart decisions that will assure them of comfortable golden years.

Start by looking at what you have. Often people have retired their mortgages by the time they reach sixty or so. This means that they are no longer saddled with a monthly payment for their house. At the same time, these same people if they are still employed may very well be at the top of their earnings. They will also have reached the age where their children are no longer a required drag on their finances. They may be pampering the grand kids, but that is an optional expense.

So, you have a house. Your expenses are down and your earnings are up. If you are relatively healthy, medical expenses have not yet began to impact your budget. Now is the time to begin to put your financial house in order for the final laps through your life.

If you have stock or retirement accounts, these need to be shuffled into relatively safe financial instruments so that you can have a little growth, but safety is the rule. You do not want to gamble with your assets that are going to keep you floating for the next two or three decades.

You may want to downsize your house. It is paid for. So, selling it can net you enough money to buy something smaller and easier to care for while still being comfortable. You should realize a profit from this transaction. If you have lived in your house for several years, this is tax-free money. You can add this to your income producing accounts to pad your monthly cash flow. If you do not need it now, channel the interest or proceeds back into the account for faster growth.

Make a will. This does not have to be overly elaborate. It should just spell out how you want your estate to be divided among your heirs. Using percent allocations works best for most people. Make sure that you take care of your spouse first and then the children, etc.

Construct a list of your accounts, account numbers, passwords, and other vital information so that it will be available in case of an emergency. Consult an attorney and make up a power of attorney that goes into effect if you are ruled unable to do your own business. Be careful who you designate for this position. Make it involve health care and financial decision making power.

If your spouse has not been involved in handling the financial matters in your home, it is a good time to sit down and teach your partner how to keep things going. After your stroke, heart attack, or funeral can be to late to do this training. I have dealt with many surviving spouses who have found that decoding this information after the loss is a nightmare.

If you are going to be short of funds after retirement, consider looking into a reverse mortgage. You probably are not going to leave a lot to the kids. You might as well have some financial ease as you live out your life. This is not the best plan for everyone, but it might be a good one for you.

Last, figure out what type of retirement that you want. If you want to travel or just relax, it will make a difference in how much money you need available. Take your time and do it right. If needed, consult an adviser at your bank. They will be happy to work with you on this.

http://peachtreesettlements.org/

You are planning for your retirement and are wondering what is the “right” size nest egg for you to live comfortably. What factors are to be taken into consideration to help you determine that? Where do you turn? Here is a helpful guide to issues involving retirement planning information.

One thing you need to know is that in this area there is no cut and dried question and answer. There are not many simple yes and/or no answers involved. This means that there are many variables to take into consideration.
· One involves the vast array of professionals available to assist you. There are CFP’s (Certified Financial Planners) and/or financial planners, investment counselors, CPA’s (Certified Public Accountants) and/or accountants, bankers, etc.
· Check into their background and then choose the one you are most comfortable with.
· Being comfortable with your retirement planner is essential for your successful retirement planning.

The determination of the proper amount of nest egg depends on each individual and/or family. Here is some of the retirement planning information you need to think about:
· One needs to ask themselves what their goals and accomplishments are upon reaching retirement,
· What type of lifestyle do they desire?
· What amount of traveling, if any, is desired?
· What amount of expenses need to be met before enjoying other areas, etc.?
· You need to know your personal preferences and goals for your retirement planning.

An important point to emphasize in determining the proper nest egg amount, according to the investment firm of Edward Jones, is
· “at a minimum, a retirement tool other than an employer-provided retirement plan is needed.”
· These tools include IRAs, dollar cost averaging (putting a fixed amount each month into stocks, bonds, mutual funds, etc.) and real estate — to name a few.

Another issue of concern during retirement planning involves healthcare.
· One also needs to look at the possibility of long term health care expense. As one ages there may be some unexpected additional healthcare costs. With the population in general living longer than in previous generations, this coincides with an extension of Medicare benefits, Social Security, and the consequences of requiring investments extending over longer periods of time. This emphasizes the need to plan for the future.
· Healthcare expense is an essential ingredient in having proper retirement planning information.

According to the investment firm of Dain Rauscher, it is “important that the client does not outlive their wealth.”
· Proper retirement planning and investing takes into consideration what current holdings the client has and what level of comfort they want to live at upon reaching retirement. This is an important piece of retirement planning information you need to think about.
· Also of importance is having a variety of investment holdings — not putting all your funds into one area. This provides for additional safety.
· Of course, the higher payout an investment pays, the higher the risk.
· Determine what level of risk you are comfortable with to help your planning professional satisfy your needs better. Your risk level is an important piece of retirement planning information that you need to know.

A useful tool used in the retirement and financial planning fields consists of a software technology known as Custom Portfolio Planner (CPP) which is based on the modern portfolio theory. This theory, centered on asset allocation, was developed by Nobel Prize winners in 1990. Some firms utilizing this software charge separately for this service, while others include it in the cost of their services. Check around for the firm and style you are most comfortable with. As mentioned previously, your comfort level when dealing with your retirement planner is essential.

Finally, some individuals and/or families plan on a retirement centered around taking multiple trips abroad while others plan on going down to the community center and experiencing some camaraderie while playing bingo.
· Goals and desires are individualistic.
· However, you must know what your retirement goals and desires are so that the professionals can help you end up a with a beneficial retirement planning package. Your goals and desires are another important piece of retirement planning information you need give some thought to.

In conclusion, for successful retirement planning you must know yourself and your goals. You must also know your wants and means to arrive at satisfying results in the “nest egg” arena.

Study this retirement planning information and you will gain a greater insight into what you need and want. This will make it easier for you to talk with your financial retirement planner.

http://structuredsettlementexpert.net/

http://lifeinsurancesettlementreport.org/

http://oceansweepers.com/

http://refinancelifeinsurance.com/

Oftentimes trying to find living arrangements for a parent is one of the most difficult decisions that anyone could possibly make. Many people whose parents are elderly live at home with them. In some cases that just isn’t feasible. At that point retirement homes become the best possible option in order to make sure that one’s parents are safe and taken care of in the right manner. This guide is will lay out some of the options that are possible and provide an overview of selecting a quality retirement home.

The first part of selecting a proper retirement home begins in your parents mind. No one wants to go from constant interaction with friends and family to hardly ever seeing anyone except a nurse or other old people. People who are moving into a retirement home do not want to be forgotten. They have to be assured that they will be visited on a consistent basis. No one wants to be abandoned and basically left for dead in a retirement home. If you can assure a loved one that they’re not just being shuffled off, then the transition into a retirement home becomes infinitely easier.

The next logical problem that someone would encounter, would be the logistics of moving a parent or elderly loved one’s possessions into a retirement home. It is more than likely that most of their possessions were not fit into a retirement community. At this point it would be good to have yard sales and see what items that your parents wouldn’t mind passing down. If your parents don’t want to sell any of their possessions or give them any of the children, then it would be best to find a storage facility to put their belongings in. Whatever choice that is decided upon should be thoroughly discussed with your parents to make sure they are comfortable with the decision because in the end it is their belongings and their memories some of which cannot be replaced.

One of the best ways to find a retirement community is to test drive it. Find out which ones have short-term leases. Putting your parents into a retirement home is a long-term decision. Get feedback from your parents by asking them, what type of vibes they get from the community. After checking out a few of the communities, both you and your parents will have a good feeling for what fits their personalities best. Letting your parents try out several retirement homes is a small inconvenience compared to pushing them into a situation where they may be uncomfortable or worse yet uncared for more abused.

Another part of finding the proper retirement community which was touched on lightly in the last paragraph is to make sure that the community your parents are living in fits your parents’ personality. If your parents enjoy quietly reading books and watching TV, you don’t want them living in a place surrounded by bit of banter and nonstop movement. On the other hand, if they are very active people, then you don’t want them sitting in some dungeon surrounded by other victims were merely waiting for the Grim Reaper to drop by.

In closing let’s be honest. No one wants to go to a retirement home. No one wants to be isolated from their friends and family. No one especially wants to spend the last few years on earth that way. People just want a little bit of compassion and love. Although maybe to some, moving their parents into a retirement home is showing compassion and love. At the end of the day, if your parents still feel loved and cared for, then a retirement home just may be the right choice.

Melinda Fulmer “Ease your parents’ move to a home” MSN Money

Claire Taylor “How to Choose a Retirement Home for your Parents” EHow

http://historyfoundationofturkey.org/

Washington (CNN) - Thousands of Democratic activists are going to hit the streets Saturday trying to register voters-and at the time same help the Obama re-election campaign increase its roster of potential supporters.

Across the nation volunteers from the Democratic National Committee’s Organizing for America (OFA) effort will be both helping new voters register and make sure others’ information is up to date. In addition this effort will help bolster the re-election campaign’s list of potential supporters when they ask people to sing “I’m In” pledges, one Obama re-election campaign official told CNN.

This is the latest initiative by the Democrats to reach out both to previous supporters of the President’s as well as bring in new people to try to get them involved – especially with some backers having voiced disappointment with the Obama Administration whether it be over the failure of fulfill some previous campaign promises or the lack of success over other ones.

Since the re-election campaign launched in April, it has worked hard to reactivate the grassroots strength that was a big success in 2008 by enlisting volunteers to talk to supporters – neighbors, co-workers and the like – in person to discuss the President’s successes and to start getting people engaged.

“These are volunteers connecting with their networks,” the Obama campaign official told CNN.

Helping in this process are the activists who have been working with the OFA in the past few years to push the Democrats’ agenda.

The Obama campaign official told CNN ” 2011 is about infrastructure for the entire year.”

On Monday, for example, the campaign sponsored an online planning session to plan future projects.

“Run by volunteers and based in local communities, this campaign will be the largest grassroots effort in the history of American elections,” vowed Jeremy Bird, national field director for Obama in America, in an email to supporters.

He said over the next several weeks the campaign planned to hold hundreds of sessions across the country – both online and in person – trying to get people involved and motivated. One way it is doing that is to try to emphasize how campaign leaders plan to listen to those on at the local level and volunteer driven. At these sessions attendees will discuss how to build neighborhood teams and plan for house meetings.

The campaign is also working to lay the foundation on the financial end. While the President has attended more than a dozen major fundraisers across the country whose proceeds are split between the campaign and the DNC, the Obama team is also working to maximize the number of its small donors.

It just sent out an email solicitation offering three donors who give at least $5 a chance to have dinner with the President.

“It’s not often you get to talk to the President one on one about your hopes for the country and your ideas for this campaign. So I hope you’ll put your name in the running,” read the e-mail.

Earlier this month the campaign sent out a separate solicitation urging action by saying one supporter had pledged to match donations for those making their firs contribution.

For the DNC and the re-election officials have set a fundraising goal of $60 million, the official confirmed to CNN.

The campaign is also beginning to its work on the ground. The campaign has put some paid staffers in key states, the official told CNN. The official though would not disclose specifically how many or where.

You can follow Kevin Bohn on Twitter @KevinBohnCNN.

Washington (CNN) - Thousands of Democratic activists are going to hit the streets Saturday trying to register voters-and at the time same help the Obama re-election campaign increase its roster of potential supporters.

Across the nation volunteers from the Democratic National Committee’s Organizing for America (OFA) effort will be both helping new voters register and make sure others’ information is up to date. In addition this effort will help bolster the re-election campaign’s list of potential supporters when they ask people to sing “I’m In” pledges, one Obama re-election campaign official told CNN.

This is the latest initiative by the Democrats to reach out both to previous supporters of the President’s as well as bring in new people to try to get them involved – especially with some backers having voiced disappointment with the Obama Administration whether it be over the failure of fulfill some previous campaign promises or the lack of success over other ones.

Since the re-election campaign launched in April, it has worked hard to reactivate the grassroots strength that was a big success in 2008 by enlisting volunteers to talk to supporters – neighbors, co-workers and the like – in person to discuss the President’s successes and to start getting people engaged.

“These are volunteers connecting with their networks,” the Obama campaign official told CNN.

Helping in this process are the activists who have been working with the OFA in the past few years to push the Democrats’ agenda.

The Obama campaign official told CNN ” 2011 is about infrastructure for the entire year.”

On Monday, for example, the campaign sponsored an online planning session to plan future projects.

“Run by volunteers and based in local communities, this campaign will be the largest grassroots effort in the history of American elections,” vowed Jeremy Bird, national field director for Obama in America, in an email to supporters.

He said over the next several weeks the campaign planned to hold hundreds of sessions across the country – both online and in person – trying to get people involved and motivated. One way it is doing that is to try to emphasize how campaign leaders plan to listen to those on at the local level and volunteer driven. At these sessions attendees will discuss how to build neighborhood teams and plan for house meetings.

The campaign is also working to lay the foundation on the financial end. While the President has attended more than a dozen major fundraisers across the country whose proceeds are split between the campaign and the DNC, the Obama team is also working to maximize the number of its small donors.

It just sent out an email solicitation offering three donors who give at least $5 a chance to have dinner with the President.

“It’s not often you get to talk to the President one on one about your hopes for the country and your ideas for this campaign. So I hope you’ll put your name in the running,” read the e-mail.

Earlier this month the campaign sent out a separate solicitation urging action by saying one supporter had pledged to match donations for those making their firs contribution.

For the DNC and the re-election officials have set a fundraising goal of $60 million, the official confirmed to CNN.

The campaign is also beginning to its work on the ground. The campaign has put some paid staffers in key states, the official told CNN. The official though would not disclose specifically how many or where.

You can follow Kevin Bohn on Twitter @KevinBohnCNN.

http://climaat.net/

Washington (CNN) - Thousands of Democratic activists are going to hit the streets Saturday trying to register voters-and at the time same help the Obama re-election campaign increase its roster of potential supporters.

Across the nation volunteers from the Democratic National Committee’s Organizing for America (OFA) effort will be both helping new voters register and make sure others’ information is up to date. In addition this effort will help bolster the re-election campaign’s list of potential supporters when they ask people to sing “I’m In” pledges, one Obama re-election campaign official told CNN.

This is the latest initiative by the Democrats to reach out both to previous supporters of the President’s as well as bring in new people to try to get them involved – especially with some backers having voiced disappointment with the Obama Administration whether it be over the failure of fulfill some previous campaign promises or the lack of success over other ones.

Since the re-election campaign launched in April, it has worked hard to reactivate the grassroots strength that was a big success in 2008 by enlisting volunteers to talk to supporters – neighbors, co-workers and the like – in person to discuss the President’s successes and to start getting people engaged.

“These are volunteers connecting with their networks,” the Obama campaign official told CNN.

Helping in this process are the activists who have been working with the OFA in the past few years to push the Democrats’ agenda.

The Obama campaign official told CNN ” 2011 is about infrastructure for the entire year.”

On Monday, for example, the campaign sponsored an online planning session to plan future projects.

“Run by volunteers and based in local communities, this campaign will be the largest grassroots effort in the history of American elections,” vowed Jeremy Bird, national field director for Obama in America, in an email to supporters.

He said over the next several weeks the campaign planned to hold hundreds of sessions across the country – both online and in person – trying to get people involved and motivated. One way it is doing that is to try to emphasize how campaign leaders plan to listen to those on at the local level and volunteer driven. At these sessions attendees will discuss how to build neighborhood teams and plan for house meetings.

The campaign is also working to lay the foundation on the financial end. While the President has attended more than a dozen major fundraisers across the country whose proceeds are split between the campaign and the DNC, the Obama team is also working to maximize the number of its small donors.

It just sent out an email solicitation offering three donors who give at least $5 a chance to have dinner with the President.

“It’s not often you get to talk to the President one on one about your hopes for the country and your ideas for this campaign. So I hope you’ll put your name in the running,” read the e-mail.

Earlier this month the campaign sent out a separate solicitation urging action by saying one supporter had pledged to match donations for those making their firs contribution.

For the DNC and the re-election officials have set a fundraising goal of $60 million, the official confirmed to CNN.

The campaign is also beginning to its work on the ground. The campaign has put some paid staffers in key states, the official told CNN. The official though would not disclose specifically how many or where.

You can follow Kevin Bohn on Twitter @KevinBohnCNN.

Washington (CNN) - Thousands of Democratic activists are going to hit the streets Saturday trying to register voters-and at the time same help the Obama re-election campaign increase its roster of potential supporters.

Across the nation volunteers from the Democratic National Committee’s Organizing for America (OFA) effort will be both helping new voters register and make sure others’ information is up to date. In addition this effort will help bolster the re-election campaign’s list of potential supporters when they ask people to sing “I’m In” pledges, one Obama re-election campaign official told CNN.

This is the latest initiative by the Democrats to reach out both to previous supporters of the President’s as well as bring in new people to try to get them involved – especially with some backers having voiced disappointment with the Obama Administration whether it be over the failure of fulfill some previous campaign promises or the lack of success over other ones.

Since the re-election campaign launched in April, it has worked hard to reactivate the grassroots strength that was a big success in 2008 by enlisting volunteers to talk to supporters – neighbors, co-workers and the like – in person to discuss the President’s successes and to start getting people engaged.

“These are volunteers connecting with their networks,” the Obama campaign official told CNN.

Helping in this process are the activists who have been working with the OFA in the past few years to push the Democrats’ agenda.

The Obama campaign official told CNN ” 2011 is about infrastructure for the entire year.”

On Monday, for example, the campaign sponsored an online planning session to plan future projects.

“Run by volunteers and based in local communities, this campaign will be the largest grassroots effort in the history of American elections,” vowed Jeremy Bird, national field director for Obama in America, in an email to supporters.

He said over the next several weeks the campaign planned to hold hundreds of sessions across the country – both online and in person – trying to get people involved and motivated. One way it is doing that is to try to emphasize how campaign leaders plan to listen to those on at the local level and volunteer driven. At these sessions attendees will discuss how to build neighborhood teams and plan for house meetings.

The campaign is also working to lay the foundation on the financial end. While the President has attended more than a dozen major fundraisers across the country whose proceeds are split between the campaign and the DNC, the Obama team is also working to maximize the number of its small donors.

It just sent out an email solicitation offering three donors who give at least $5 a chance to have dinner with the President.

“It’s not often you get to talk to the President one on one about your hopes for the country and your ideas for this campaign. So I hope you’ll put your name in the running,” read the e-mail.

Earlier this month the campaign sent out a separate solicitation urging action by saying one supporter had pledged to match donations for those making their firs contribution.

For the DNC and the re-election officials have set a fundraising goal of $60 million, the official confirmed to CNN.

The campaign is also beginning to its work on the ground. The campaign has put some paid staffers in key states, the official told CNN. The official though would not disclose specifically how many or where.

You can follow Kevin Bohn on Twitter @KevinBohnCNN.

http://healthywealth.us/