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October 31, 2014     Heritage Florida Jewish News
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October 31, 2014

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HERITAGE FLORIDA JEWISH NEWS, OCTOBER 31, 2014 PAGE 5B (StateP0int)--Most Amer- icans are taking a careful and deliberate approach when it comes to their re- tirement plans, according to the recent Measuring Optimism, Outlook and Direction (M.O.O.D.) .of Wavebreak America Survey conducted by Lincoln Financial Group. Among those who feel pre- pared, 77 percent believe they have saved enough to cover retirement expenses and 64 percent expect to be debt free during retirement. "While there are basic tips that apply to everyone, taking a holistic view of saving for retirement at the different stages of your career can help you take a more thoughtful approach to achieving retire- ment readiness," said Chuck Cornelio, president of Retire- ment Plan Services, Lincoln Financial Group. Cornelio offers tips for sav- ers at every career checkpoint: First Job Create a monthly budget to prioritize your expenses as you begin your career. Include a line for retirement savings to help you get in the habit of contributing regularly and managingyour new paycheck accordingly. As soon as it's available to you, enroll in your employer-sponsored retire- ment savings plan. At this stage you'll want to save at least up to the company match so you don't leave money on the table. your career Changing or In Between Jobs Throughout your career, you may firid yourself in be- tween jobs or ready to pursue a new one. To help you better prepare for life's unexpected events, it's important to have emergency savings to cover at least a few months' expenses. When looking for your next career move, consider the em- ployer's retirement benefits as part of your overall compensa- tion package. Learn about the company match, investment options and resources to help you stay on track with retire- ment savings. Mid-Career At this point in your career, you likely have competing savings priorities including mortgage and car payments, education expenses and more. At this stage you may be tempted to stop saving alto- gether or borrow from your plan. Resist the temptation. Keep up your momentum and continue to save as much as possible from every paycheck. Meet with a financial profes- sional to help look at your entire savings picture and assess the best ways to main- tain the momentum you've achieved so far. C~treer Advancement As you make more, save more. Increase your contri- butions and save extras from a bonus or any other unex- pected income boost. If you've maxed outyour contributions in your employer-sponsored plan, talk to a professional about investment and savings options that make sense at this point in your career. Near Retirement Take advantage of income guarantee options that may be available in your plan. It's also important to understand social security benefits in addition to the other income sources you've secured along your savings journey. For more information visit When you take actions throughout your career, you can boost your retirement readiness and feel better prepared for the road ahead. (StatePoint) Despite the time commitment and finan- cial investment that come with the territory, more than 25 million people nationwide have opted to start a micro- business - a company with five or fewer employees. One in every 10 Ameri- cans works in a microbusi- ness, according to the Sam's Club/Gallup Microbusiness Tracker, a quarterly survey of more than 850 microbusi- ness owners that provides insights into their economic and emotional concerns. The Sam's Club survey indicates that women are opening 46 percent oftoday's Main Street businesses - from restau- rants to daycare centers- far greater than the number of women owned businesses that are over 20 years old. "I've never worked harder in my life or felt more re- warded," says Molly Beas- ley of Fairhope, Alabama, owner of Give a Dog a Bone, a Do-It-Yourself dog washing ness owners (31 percent) depend more on second jobs for their personal income than on the business they launched. Yet 69 percent of micro- business owners feel they have the ideal job. Amidst these findings, one questionbubbles to the sur- face- how can entrepreneurs maintain their passion while dealing with long hours and increasing budget demands? Beasley provides some tips: Embrace Perspective: No matter how much you love your company, there will be days when balancing the books creates anxiety. Remind yourself what fueled you to launch your business. Find Balance: Sometimes it might seem impossible to relax, but devoting even 60 minutes weekly to non- business related activities will help you recharge. Become Resourceful: Findways to save money, time and energy. Trymultitasking, such as purchasing business supplies while waiting for a prescription to be filled, or patronizing retailers with special early shopping hours for business owners. Consider streamlining home expenses by eliminating cable or cook- ing at home ........ Make Changes: Stay motivated by experiment- ing with new methods and tools. Attending trainings or online webinars about your industry can help re-ignite your creativity and even lead to business growth. For more insights from the Sam's Club/Microbusiness Tracker, com/newsroom. In a recovering economy, it's no surprise microbusi- nesses are growing. For many, the job satisfaction is worth the'time and financial investments. Monkey company. "This business is my passion. There's a lot of satisfaction in knowing you are providing a valuable, affordable service in your community." After more than two years working 20 to 40 hours a week at a DIY dog wash in California, Beasley relocated to Alabama and found herself dreaming about opening her own dog wash. Eventually, she decided the timing was right to take the entrepre- neurial leap and she hasn't looked back. Since launching Give a Dog a Bone in 2012, Beasley caters to customers Monday through Sunday and spends her downtime think- ing about ways to grow the bottom line. Indeed, growth in micro- businesses has been driven largely by high personal sac- rifice yet overall job satisfac- tion, according to the survey: Over 60 percent of mi- crobusiness owners have financed their businesses from personal savings and nearly as many (55 percent) say having access to cash reserves is a major issue. One in three microbusi- "We knew t! is dJepIace." For Annette Rosch, moving to The Mayflower from St. Petersburg was a family decision. Her daughter, a physical therapist, and her son-in-law, an attorney, wanted her to live doser. "We visited various communities industry and who had here, levels of care are right here.~ www.themayflower,com 1820 Mayflower Court Winter Park, Ft 32792