Avoiding Money Decisions?

Many of us, even if trained in the field, often struggle with decisions about our finances and retirement. Thinking about money opens the door to discomfort for most,m as Tim Herrarra for the New York Times states in his article, A Smarter Way to Think About Financial Decisions.

These feelings span all levels of financial training, “I have a Ph.D. in business and an M.B.A. in finance, on top of a degree in architecture, so I think I can understand financial products pretty well,” Professor Sela said. “But still, every time I get a letter from my bank, my instinct is to shove it in some drawer.”

How do we reframe our thinking and make these decisions easier? Try picturing the questions from a lifestyle vs. solely financial product view, such as, I would love to visit Paris or take a cruise around the world, as opposed to just choosing which annuity would suit you best.

Retirement Ready?

Does the thought of retirement make you nervous or are you still in the stage where you’re throwing out all the mail you get from AARP? Peter Finch for the New York Times offers a detailed, five-year plan to help you prepare. Finch explores the process by breaking each year down into easy steps, ranging from calculating self-worth/future needs, to recognizing health insurance options, investigating reverse mortgages, and considering long term care.

Countdown to Retirement: A Five-Year Plan

What Would You Do?

Ever witnessed a co-worker being harassed on the job? What would you do in that situation? Did you know that Title VII of the Civil Rights Act of 1964 protects workers at companies with 15 or more employees from sexual harassment that creates a hostile work environment? Read more from Rob Walker, for the New York Times, aka, The Workologist who shares his insight and the facts about questionable work situations.

How to Respond When a Colleague Is Harassing Women

The New Pension Plan

With such a variety of retirement plans, many current workers will not have an actual pension. Ann Carrns, for the New York Times suggests a variety of ways to make your savings work for you in her article, No Pension? You Can ‘Pensionize’ Your Savings.

Her top recommendations include working longer, delaying Social Security payments, and, creating a budget for the amounts that you are required to withdraw from your retirement accounts.

Portfolio Planning

Wondering about Bitcoin? Consider first if it fits within your investment portfolio. Carl Richards for the New York Times reminds us that investing is very different than speculating. Our decisions should be based on the process and not the outcome, which no one can actually predict. Plan your goals and focus on diversification and then decide if Bitcoin or any other investment opportunity is right for you.

Spend More Make Less?

The IRS outsourced tax collection in an effort to “put a dent in the $138 billion that taxpayers owe the government.” This action cost the agency $20 million and netted a little over six million in past due monies. Combined with contractor payments and relatively low collection rates, other cost factors included the streamlined approval of “tax-exempt organizations” as well as lack of funding for better direct (IRS) communication with tax payers.

I.R.S. Paid $20 Million to Collect $6.7 Million in Tax Debts

Team Building 101

After interviewing over 500 business leaders, managing director of Merryck & Co and author, Adam Bryant compiled this detailed list of the best practices for creating and maintaining a strong and productive team. Start with a plan, set the rules of the road and work to foster a culture of communication and respect that goes both ways.

How to Build a Successful Team

Word of Mouth

We often see social media rants about products, but do they actually represent how we feel about the brands or are they really just a way to blow off steam? Janet Morrissey for the New York Times explores this question in her article, Brands Heed Social Media. They’re Advised Not to Forget Word of Mouth and reminds companies what studies show. Even when we put things out for the world to see, the words from our mouths the next day may be a very different story.

Tax Confusion?

What will the new tax bills mean for you? At the moment it’s not quite clear. Accountants and tax advisors everywhere are watching with bated breath as we approach the current tax season where these new laws will take affect. The best advice in the article? Schedule your tax professional appointment early this year.

Confused by the Tax Bills? Be Glad You’re Not an Accountant

When I Grow Up…

Have you ever reached a crossroads and wondered what you should be doing with your life? Tim Herrera for the New York Times offers these five tips to help you along the path.

–Start by looking backward
–Decide what ‘meaningful’ means to you
–Build a personal “board of directors,” a financial cushion, and take time to reflect
–Find a sponsor, not just a mentor
–Collect experience and be generous

In the article, 5 Tips to Help You Figure Out What to Do With Your Life, Tim delves deeper into each of these categories, defining the roles of a sponsor verses mentor and gives insight into ways to construct your own group of trusted confidants. A recommended read for anyone currently pondering their future.