Best Boomer Towns Columns

What’s Next Boomer Business Summit April 29, 2011 San Francisco

There are 78 Million Baby Boomers in the U.S. spending $2 Trillion annually and control 77% of the wealth, attend the summit to learn how to get your share of wallet.

Featured Speakers

Michelle Bauer, Founder and Chief Strategist, Common Language
Scott Bennett, National Vice President of Marketing, American Cancer Society
Elisa Camahort Page, Co-Founder & COO, BlogHer
Michael Carroll, Vice President, Marketing, United Healthcare Medicare Solutions
Andy Cohen, CEO and Co-Founder, Caring.com
R. Scott Collins, President & CEO, Senior Resources Alliance
Mara DelliPriscoli, President, Travel Learning Connections, Inc.
Marilyn Ditty, Executive Director, South County Senior Services, Inc.
Mary Furlong, CEO, Mary Fulrong & Associates
Jane Glenn Haas, Founder, WomanSage
Mark Graham, SVP, ivillage.com, an NBC Universal Company
Jeff Hasen, Chief Marketing Officer, Hipcricket
Lyn Jeffery, Cultural Anthropologist
Mollie Katzen, Best-Selling Author
Susy Korb, President, OMHU
David Lindeman, PhD, Director, Center for Aging and Technology
John Lukrich, COO, Dummies Licensing Partners
John McKinley, Founder, OurParents.com
Laura Mitchell, Director of Business Relations, GrandCare Systems
Gary Moulton, Product Manager, Trustworthy Computing Group, Microsoft
Coby Neuenschwander, Founder and CEO, Readeo
Miles Orkin, National Director of E-Revenue and Mobile innovation, American Cancer Society
Casey Pittock, President & CEO, Wellcore Corporation
Peter Radsliff, CEO, Presto Services
Francine Russo, Best-Selling Author
Gail Sheehy, Best-Selling Author
Nancy Shonka Padberg, CEO, Navigate Boomer Media
Sandy Timmermann, Executive Director, MetLife Mature Market Institute
Tandy Trower, Hoaloa Robotics
Renee Werbin, Publisher & Co-Founder, Travelgirl Magazine


Date and Time: 
Friday, April 29, 2011
8:00 am – 5:00 pm
Parc 55 Wyndham Hotel
San Francisco

What's Next Boomer Business Summit
www.boomersummit.com
 
Sponsors include 
United Health Care, Microsoft, South West Airlines, Continuum Crew, AARP, Navigate Boomer Media, Verizon, First Republic Bank, SRA, Linqto, Common Language, Met Life, AAA

Save 20% - Code wnnb11

Americans Need to Face up to End of Life Planning

Advance care counseling is long overdue and can bring incredible peace of mind. As a culture, we'd rather do anything than talk or even think about our own death. Psychiatrists have long equated the reluctance to draw up a will or estate plan with this fear of death.

Millions of families find themselves without guidance or direction when faced with a medical emergency or unexpected death. The legal forms for a living will and health care proxy haven't been filled out. No one wanted to think about the possibility that they might be needed.

We have all kinds of ways of not thinking about our death. Denial allows us to pretend that we won't be caught in that situation. We postpone filling out forms until "We're not so busy." We're paralyzed by our foolish superstition that makes signing papers a signal to God that we're ready to die. What about optimism that we'll just die in our sleep, or during sex, or our favorite sport?

Why spoil the quality of life by being negative?

However, a medical emergency or a tipping point in a chronic illness will trigger the need for a living will and a health care proxy, the documents that form the basis for advance medical planning.

The living will, a medical directive form, lets others know what medical procedures and treatments we want and the conditions under which we want them. Without this, our families will struggle with decisions they have to make that may not be what we want. The health care proxy or durable power of attorney form lets us choose someone we trust to make decisions for us if we can't make them for ourselves.

Why should any child be put into a situation of predicting a parent's wishes? What a huge responsibility for parents to shunt off on children -- one that is often complicated by the possibility of friction with other siblings. Why force people you love to read your mind and make heart-rending decisions in a time of crisis? Isn't it better for both generations to talk about what they want in case they can't speak for themselves at the time -- and to put it in writing?

For example, in the Terri Schiavo case, determining what a loved one would want was neither a simple nor clear decision.

The young woman was left in a persistent vegetative state after having a cardiac arrest. Unconscious and sustained by artificial hydration and nutrition through a feeding tube, Terri was unable to speak for herself. Because she had no official medical directive, her husband, who argued that she would not have wanted to be kept alive in this fashion, was locked into a 15-year battle with her parents, who refused to allow the withdrawal of the life-sustaining technologies.

The culture of silence around financial and estate planning, medical directives, powers of attorney, lifestyle preferences and end-of-life care results in countless unnecessary financial, legal, and social complications and pain for millions of people. That's too bad; advance care planning of all kinds is a smart and loving thing to do for our families.

 

Not Done Yet - Inspiring, Empowering, Optimism and Belief in Self

The website offers articles of interest, stories of reinvention and a cool on-line store. The Shop features beautiful and excellent quality American Made tees, tanks and thermals for women and men as well as fun gifty items like bling water bottles and mugs. In addition, ndy is very proud to donate a portion of every sale to Womens cancer research, Alzheimer's and grief support services.

Shop ndy for the Holidays! http://www.ndynotdoneyet.com/shop.html

 

Iowa Judges Go Too Far

The situation was similar to what voters said to Congressional Senators and Representatives last week around the country. You're just not listening to us. We're tired of your arrogance... get out. Americans have spoken with their votes previously on several issues only to have state and federal judges reverse the decisions on a whim. So many of these reversals do not have Constitutional backing.

State judges are just not voted out very often which probably gives them a sense of tenure. It also apparently gives them a boldness that makes them feel they can interpret the law however they want. Iowa voters do not want the definition of marriage changed to accommodate gay demands. The three judges overturned that vote. Bad idea.

I would think that this will send a message to voters (and judges) in other states that deal with the same frustrations. "We the people" are in charge here. We saw the message get delivered loud and clear on November 2nd. This same message can be sent again on any state or federal election when the folks suddenly realize they hold the keys to the car.

The people have spoken... office holders beware.

 

Get Enlightened… Learn More About Your Computer

While you're asking yourself these questions, adrenalin is coursing through your system, making your body feel different. From sweating to squirminess, the physical manifestation of angst is very uncomfortable and makes it
difficult to concentrate. Even if the problem is solved quickly, after going into a momentary panic, it will take you anywhere from an hour to a day to get back to your normal level of functioning. And being in a panic is not great for your general well-being.

This is where the old saying that "knowledge is power" can be very helpful. Knowing how your computer works and having the ability to dance around a program and make it do what you want it to can make you feel creative and
intelligent. Having the ability to get done what you need to do and not encounter any problems allows for greater access to the inner resources and inspiration that we all have.

The pride that comes from mastering or, if you're a techno-spazz like me, just getting the basics of a computer can be very empowering. In addition, learning something new builds brain cells and staves off Alzheimer's. You actually stimulate the growth centers of your mind and create a greater ability to figure out what you need to do next. The confidence of knowing
that you can solve a problem, even before you actually encounter it, is very freeing and allows you to push yourself without feeling pushed.

You can fly though projects like a stunt pilot, doing barrel rolls around your Excel spreadsheet, while your knowledge of Photoshop will make Ansel Adams green with envy. In addition, every time you accomplish a new task,
it gives you the opportunity to feel better about yourself.

If you invest an hour or two a week in a class, many of which are available online, you will master your program/computer of choice in short order. With that ability, you can then create and share your gifts with the
world.

Just the social networking alone can link you up with what's going on in many different places. By Twittering here or Facebooking there, you can find old friends and make new ones. By creating a blog you can touch the
lives of hundreds, perhaps thousands (and maybe even get a book deal). Quite simply, it's an opportunity to connect with the rest of humanity.

So go get that new laptop or use your kid's old desktop, it's time to learn how to keep up with the rest of the human race.

 

Media expert Nancy Shonka Padberg Turns Spotlight on Top Boomer Issues

What images spring to mind at the mention of "baby boomers?" Executives? Yoga teachers? Botox? All of the above?

Media expert Nancy Shonka Padberg turns the spotlight on top issues facing the baby boomer generation.

By Emily DiFrisco

The multifaceted baby boomer group comprises 78 million people living in the United States today. They fall between the "Silent Generation" (the children of the Great Depression) and Generation X. Born between 1946 and 1964, baby boomers are the healthiest, wealthiest, most educated, and prosperous generation thus far, plucked right from the pages of American history.

Boomers saw the U.S. change from a manufacturing economy to a knowledge economy. They saw the formation of the Interstate Highway System, enabling their families to "pack up the station wagon" and travel like never before. They were able to leave their hometowns and go to college. They embraced technology, as they saw the number of television sets grow from 4 to 50 million from 1950 to 1960.

"In the industrial age, it was all about product, price, place, and promotion," says Nancy Shonka Padberg (MBA '03), founder of Best Boomer Towns, Inc., and Navigate Boomer Media, LLC. "The manufacturers pushed the product to the customer. You could get your Ford in black or black. In the knowledge age, it is all about consumers, cost, convenience, and communication. The consumer is in charge. And I would argue that the boomer consumer is in charge."

Even as they age, baby boomers still control 70 percent of the total net worth in the U.S. They spend an average of $3 trillion dollars per year and an additional $7 billion online. They purchase 41 percent of new cars and shell out for 80 percent of luxury travel.

Padberg, a former Fortune 500 executive, first discovered the baby boomer market as vice president at The Phelps Group, where she worked on campaigns for Fairmont Hotels, PETCO, and Whole Foods Market. "All these companies have research on their clientele," she explains, "and the research was astounding. Specifically, with PETCO, we found that baby boomers and empty-nesters spent the most on their pets."

As part of the team developing TV, print, and radio campaigns, Padberg strove to help advertisers understand and reach the boomer audience. She asked her clients, "How do we connect with boomers emotionally? It was easy with animals. We really had some terrific commercials for PETCO."

Seeking to start her own marketing firm and realizing that with knowledge comes opportunity, Padberg went back to school, earning her MBA from the Graziadio School of Business and Management of Pepperdine University, where she "saw all the pieces come together." In marketing class, she again studied the demographics of boomers. She also learned the two biggest takeaways for a startup: have a clear point of differentiation and develop a healthy culture.

Parlaying her knowledge from school and her career, the Iowa native developed a business plan for Best Boomer Towns, Inc., which launched in 2005. The Web site serves as a destination for boomers to find and exchange information on the best 21 locations in the U.S. to relocate or retire.

Recognizing additional needs in the marketplace, Padberg brought together nine media colleagues, including Pepperdine alumnus Kyle Murphy (BSM '04, MBA '05), and launched Navigate Boomer Media, LLC in Fall 2009. Navigate allows time-starved media buyers and marketers to buy display advertising on 10, 15, or 20 Web sites at a time. Launched in 2009 with 50 sites, the company now represents 119 sites with over 112 million unique visitors per month.

"Boomers spend an average of 15 hours per week online," says Padberg of her decision to create online businesses. "Print and radio can't say they have their audience for 15 hours per week. The largest segment of the population is coming through and embracing new technology like never before. In fact, the fastest growing segment on Facebook in the last year has been women 50-plus."

Not even one year later, Navigate Boomer Media has emerged as the No. 1 online boomer ad network in the U.S. They represent boomer-focused Web sites such as vibrantnation.com, grandparents.com, and silverplanet.com, and publish original content for Web sites, blogs, social networking communities, and streaming radio. The business is now expanding into Canada and Southeast Asia.

While the young company continues to grow, Padberg observes, "We're not a Fortune 500 company, we're not corporate. We wear quite a few hats. We're nimble and can make quick decisions. We know that we have the right media with the right target audience, at the right time."
Summer 2010

Pepperdine Magazine Article August 31, 2010

 

The Unpretentious Warren Buffet

I admire Warren Buffett, not because of his wealth, but because of his lack of pretention. He doesn't believe that giving money to his kids equates with giving them love. He wanted them to carve out their own path and believed that 'setting them up with unlimited wealth is harmful and an anti-social act.'

His decision to donate nearly $37 billion to the Gates Foundation may have shocked the world, but it came as no surprise to his three children, whom he'd consulted first.

A few years ago, his children, Susan, Howard and Peter said they supported their father's decision not to leave all his money to them. http://abcnews.go.com/print?id=2133209

"The truth is it would be insane to leave us that much money," said Susan Buffett. "It just would be."
Buffett gave $1 billion to his children's three charitable foundations: the Susan A. Buffett Foundation, which focuses on early education for children of low-income families; the Howard G. Buffett Foundation, which has helped 42 countries; and the Novo Foundation, Peter Buffett's organization for democracy. They each draw a salary from their work.

Keep in mind that the Buffett kids grew up in a 3 bedroom, 2 bath house in Omaha Nebraska. They attended local elementary and high schools . Their friends were neighborhood kids who actually played without needing play dates or being chauffered from house to house. The Buffett kids grew up without pretension; money wasn't the way they measured their parents' love.

Each Buffett sibling recently received a letter from their father in which he wrote: "I consider myself lucky to have three children who want to spend much of their time and energy working on projects that will benefit others. I am proud of what you are doing and your mother would be proud as well. Love, Dad."

I like this man, in spite of his wealth.

 

Living Longer and Retirement Planning

Today this is considered and oddity but, could it become the norm at some point? The world population is getting older, the number of people and older is expected to increase from 516 million in 2009 to 1.53 billion in 2050, according to data released by the US Census Bureau.

The number of centenarians (100 years) has increased to more than 340,000 worldwide versus a few thousand in the fifties. By midcentury, the number of centenarians in the US could grow from 75,000 to 600,000.

Advances in medicine, healthcare and education concerning lifestyle choices have been big factors in longer living. Problems like heart disease, and many types of cancer a few years ago were the beginning of the end, now with proper treatment and monitoring they have become health issues rather than life-ending.

As a segment of the population grows fast another slows down, while the age group over 65 is expected to see a jump by 2050, the group under 15 years old will grow at a much slower rate, from 1.83 billion to 1.93 billion. In 2017, the number of people over 65 will exceed the number under age 5.

The aging population will stress Social Security, Medicare and health services, while the disappearance of pensions and lack of savings for retirement will them modifying their original thoughts of retirement. Longer and healthier life expectancies will find people working longer at their current job or starting a new career to provide income, benefits, or to remain active will be the norm rather than the exception.

About Mike Bonacorsi, CFP®

Mike Bonacorsi is a CERTIFIED FINANCIAL PLANNER^TM professional, public speaker and award-winning author of Retirement Readiness: A Guide to Creating Your Vision, Knowing Your Position, and Preparing for Your Future. You can listen to his radio show, The Mike Bonacorsi Show, at WSMN, 1590AM or on your computer at http://wsmnradio.com on Tuesdays from noon - 1:00 PM. For additional information, visit http://mikebonacorsi.com/. Follow Mike on Twitter @MikeBonacorsi. Read his blog at http://www.mikebonacorsi.blogspot.com/ . Reprinted with permission of the author. 2009© Mike Bonacorsi CFP® All Rights Reserved

 

Do You Suspect Fraud in Your Organization? Who Do You Turn To?

The Association of Certified Fraud Examiners estimates that employee fraud and abuse costs U.S. organizations nearly $1 trillion a year. Fraud Solutions is your number one source for preventing, detecting and investigating fraud.

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* Interviewing Skills

www.fraudsol.com

 

VoiceAmerica.com the Official Internet Broadcasting Company for the Player Networking Event at Super

Phoenix, AZ (PRWEB) February 4, 2010 -- World Talk Radio, LLC (DBA VoiceAmerica.com), home of the VoiceAmerica and WorldTalk Radio Networks has confirmed they will be the Official Internet Broadcasting Company for the Player Networking Event at Super Bowl XLIV. This event will include streaming live audio from 2pm-6pm EST/11am-3pm PST on Saturday February 6, 2010 through VoiceAmerica's Sports Channel (www.VoiceAmericaSports.com).

VoiceAmerica.com, the world leader in live internet talk radio broadcasting, will be providing a live stream including interviews with current and former NFL players. They will have an opportunity to discuss their current interests as well as share their perspective on the Super Bowl. This will be the second consecutive year that VoiceAmerica will be hosting a live event from PNE. VoiceAmerica is also one of three companies that the Player Networking Event has chosen to feature.

In attendance will be World Talk Radio President Jeff Spenard, VP of Broadcast Operations Ryan Treasure, VoiceAmerica Sports Channel Director and former Philadelphia Eagle Ray Ellis; along with our featured VoiceAmerica Sports Hosts including: former Baltimore Raven Nick Murphy (host of Murphy's Law), former Arizona Cardinal Kwamie Lassiter (host of Kwamie Lassiter's Sports Talk), former Minnesota Vikings Chuck Foreman (host of Spin It) former Arizona Cardinal Damien Anderson (host of Planet Gridiron) and former Chicago Bears and Super Bowl Champion Dave Duerson (host of Double Time with Double D).

In addition, Lemont Williams former Redskin's linebacker and host of "Outside the Huddle" on VoiceAmerica Sports will be live on location at Media Day. Lemont will be joining the live broadcast on Saturday discussing his exclusive interviews with players from the Colts and Saints.

The Player Networking Event (PNE), a sanctioned NFL Super Bowl event, helps active and former NFL players with their transition from football to their business careers. Each year active and former players attend the PNE to network with business executives and corporations. Working collaboratively with the NFL and its member clubs, their goal is to help players explore and identify post-football opportunities that are realistic and meaningful.

PNE will be held this Saturday, February 6, 2010 from 2pm-6pm EST at the Hyatt Regency Miami (James L Knight Center) in the Riverfront central Ballroom in conjunction with Super Bowl XLIV.

VoiceAmerica's Sports Channel will air live from the PNE event from 2pm-6pm EST/11am-3pm PST. To access the event, log on at http://www.VoiceAmericaSports.com.

VoiceAmerica.com offers the latest conversations in a talk radio format, providing education, interaction, and advice on key issues live, on demand as well as through pod cast download. If interested in hosting a talk radio show on VoiceAmerica Network or WorldTalk Radio Network, contact Jeff Spenard, President and CEO at 480-294-6417 or at jeff.spenard(at)voiceamerica(dot)com.

Contact Director of Marketing, Melissa Schmitz, at 480-294-6410 for advertising / sponsorship information or other Network details.

ABOUT VoiceAmerica.com:
VoiceAmerica.com, is a technology centric media group and the largest producer and distributor of live internet based talk radio, delivering over 1,000 hours of programming weekly on its VoiceAmerica^TM Network (http://www.voiceamerica.com) and WorldTalk Radio Network (http://www.worldtalkradio.com). Featuring more than 200 hosts broadcasting to eight niche community based channels: its flagship VoiceAmerica^TM Variety Channel, VoiceAmerica^TM Health & Wellness Channel, VoiceAmerica^TM Business Channel, VoiceAmerica Sports, 7th Wave Network, The Green Talk Network, Power Up Motorsports Channel and WorldTalk Radio Variety Channel. VoiceAmerica.com is one of the pioneers in internet broadcasting, producing and syndicating online audio and video, offering an innovative, effective and comprehensive digital broadcast platform. Digital Publishing through its 10 years of broadcast and media experience along with our seasoned staff of Executive Producers, Production and Host Service Group, VoiceAmerica.com provides an internet radio platform for new, emerging and veteran media personalities to expand and monetize their business and brand in an online digital medium.

 

Powerful Guests on The Authentic Living Show

Starting on Wednesday, February 3, with a return visit from Neale Donald Walsch, most renowned for his "Conversations with God" series; the show revs up with a visit from Bruce Lipton, author of "The Biology of Belief;" and another return visit from Byron Katie, most famous for "The Work," her teachings aimed at ending suffering found in several books, most recently, the children's book "Tiger, Tiger Is It True;" and the host's first interview with Dr. Judith Orloff, famous for "Second Sight" and recent author of "Emotional Freedom."

The Authentic Living show, hosted by Andrea Mathews, is dedicated to getting the best speakers in the world to help Mathews pass on the message that authenticity is the reason we are alive. Mathews is the author of the book Restoring My Soul: A Workbook for Finding and Living the Authentic Self and the Home Study for Licensed Counselor's, based on the same book, called The Soul of Therapy. "The most difficult aspect of finding and living the authentic self," says Mathews, "is getting ourselves to believe that it is not only possible, but provides us the peace and essential sense of ‘aliveness' for which all of us are longing." Mathews adds, "These guests help me not only deliver that message, but make it more believable. I'm so fortunate to have been able to attract these wonderful guests to the show. They help me talk about the hard stuff and the enlightening stuff in a gentle conversation that answers some of life's deepest, most desperate questions."

The list of previous guests on Mathews' show also includes such thought-leaders, as: Gary Zukav, Joan Borysenko, Thomas Moore, Dr. Bernie Siegel, Lama Surya Das, John Holland, Dr. Larry Dossey, Julia Cameron, Dan Millman and many more. Listeners can hear these shows anytime by going directly to http://www.modavox.com/voiceamerica/vshow.aspx?sid=1304, the show's website. The show can also be heard on iTunes as a podcast, and even downloaded from either site to copy to CD, so that listeners can have, as Mathews puts it, "a dialog with themselves" in the car on the way to work. The show is sponsored by the American Institute of Holistic Theology and can be heard on their site as well.

Voice America^TM, the pioneering Internet Talk Radio Network owned and operated by World Talk Radio, LLC, is the producer of Authentic Living. If interested in hosting a talk radio show on VoiceAmerica, contact Jeff Spenard, President of Internet Radio at 480-294-6417 or at jeff.spenard @ modavox.com.

 

Social Security When and Why You Should Start

As you get closer to retirement, it is important to realize that there are decisions you have to make regarding certain benefits that will become available to you. One decision that affects all but a few groups is when to begin your Social Security benefit.

Three milestones require consideration when choosing your benefit, age 62, full retirement age (between 65 and 67) and age 70. At each of these ages your benefit amount changes and it is important to understand which age and amount is most advantageous to your needs and situation.

Age 62, the age where Social Security first becomes available, offers you a benefit amount approximately 75% of the amount you would receive at full retirement age. The common thought for many people is to begin benefits at this time, the idea being, "the longer I take the benefit the more lifetime benefit I will receive".

Starting benefits at age 62 made more sense when life expectancies were shorter; the "break-even" age for taking benefits at 62 versus your full retirement age is between 78 and 80 years old.

Another factor in your decision is whether you will continue to work between age 62 and your full retirement age. Earnings from employment may reduce your benefits if they exceed certain amounts. In 2008 if you have not reached full retirement age and earned over $13,560.00 your benefit reduction is $1 for every $2 earned. If you will reach full retirement age during 2008, your earning limit is $36,120.00 and benefits are reduced $1 for every $3 earned.

The month you reach full retirement age you can relax, from that point on you are able to earn as much as you want with no reduction in benefit. One important note is that these limits are on income earned from employment, not pensions, annuities, IRA's, or 401k withdrawals.

A third consideration is delaying you benefit. Social Security provides delayed retirement credits up to 8% per year to age 70 for those who can wait to take their benefit.

These options will determine the benefit you receive during your lifetime. An often, overlooked part of the decision process is what affect will my choice have on my surviving spouse? Your surviving spouse at full retirement age will receive a benefit equal to yours if it is higher than his or her own.

If you chose to delay your benefit beyond your full retirement age, your surviving spouse will receive your benefit plus the additional delayed retirement credits.

It is important to realize that decisions like these should not be automatic or determined by the "if it works for him it should work for me" process. You need to determine the pros and cons of each option and understand how it satisfies your needs in your unique situation.

Revisiting Your Cash Flow Before You Retire

Reviewing and understanding your cash flow, income streams versus expenses, is an important part of retirement planning that is frequently overlooked. The lifestyle you have created based on your income during employment may require some modification when you leave your current position.

Let’s start with understanding income; I define income as a consistent, scheduled, reliable stream of payment, for a determined amount of time.  Social Security is an example of income; you receive your check at the same time each month, for the same amount, for life. If you have a Defined Benefit Pension with your employer, you can choose an option that will provide income to you based on your life expectancy or one that will continue to provide an amount to your surviving spouse.

Bond and CD interest fit the definition of income however; an issue may present itself at maturity. These products have a shelf life and at maturity and renewal, there is no guarantee the same opportunities will exist. Annuities can also provide a lifetime stream of income.

The key to these sources is in the definition, consistent, scheduled, and reliable for a determined period.  If you receive a check on January 2 and you run out of money on February 1 you know there is another check coming on the third. Your income sources will not run out, they may stop after a pre-determined date, but not run out.

Drawing down on savings to supplement your income is a strategy to offset a shortfall but does not provide income. One reason is that savings can run out; if you spend it too quickly, it will be gone. Unless you are able to add to savings or, receive a high enough return to replace your withdrawal, you will eventually run out. As a strategy this requires careful consideration, drawing down on savings too early can have a negative impact in later years.

Once you have determined your income flow the next step is to list your outflow, expenses. Expenses fall into one of two categories, necessary or lifestyle.

Necessary expenses are those you need to survive, shelter, food, medical, insurance utilities, transportation.  These are bills that if not paid will have a direct negative effect on your ability to live, or function day-to-day.

Lifestyle expenses are not necessary for us to live but, they are the ones that we like best, these expenses are fun and make us feel good. They can be impulse or emotional purchases, planned or unplanned, practical or not, but expenses that are not needed for survival.  They include your daily out-of-pocket expenses that add up each time you swipe your debit or credit card.

Tracking lifestyle expenses on a daily basis can be key factor in understanding where your money goes and where spending habits need to be changed.

Understanding your income and expenses will become critical when you decide to leave your current job and paycheck. You no longer will have the regular paycheck you have grown accustomed to, and your lifestyle may require some modifications. Reviewing your situation and preparing for these changes will make the adjustments easier when the time comes.

 

 

Job Hunting Tips Part Four in a Series

GET UNCOMFORTABLE.

If you are over 40 this is a great time to get out of your "comfort zone." At this stage in life you are probably getting a bit too settled in some areas of your life, a little too rigid about your beliefs and less open to new experiences. Well, being out of work is a perfect opportunity to examine your beliefs and attitudes and try on some new experiences. It might even help you avoid a mid-life crisis.

Try exposing yourself to things you ordinarily would not do. Take pottery classes. Go on an adventure vacation. Attend a gay rights meeting (if you're straight). Volunteer to save the wetlands. Take your spouse to a sexy resort. Go to a service at a different religious denomination. Do anything that you wouldn't ordinarily do (that is legal, of course). You will be amazed at how it changes your outlook on life. And it may even open up opportunities you never knew existed. Creative brainstorming sessions often utilize forced exposure to different points of view to stimulate new thinking.
Doing this will be harder for "left brainers" than "right brainers" and for conservatives and the religious right than for liberals and less hard-line religious people. But they are the very people who could benefit the most from taking off the blinders, opening up to something new and learning to be more fearless.

GET COZY WITH TECHNOLOGY.
If you don't know them already, learn the major tech food groups: Outlook, PowerPoint, Excel, Photoshop, Project Manager and Windows (or the Mac equivalents). The more you know the more you grow---and the more you are capable of doing work required in the Web 2.0 era. Include your technological proficiency on your resume to drive home that you are staying current with technology.

THE RESUME. THE NEW BUSINESS CARD.
Your resume's job is to get an interview, where you have a real chance of getting a job. Your resume alone will not get you a job.

The calling card for all job-hunters is the resume. This too has evolved in recent years and requires attention and management. Like I said before, it's a whole new world in job-hunting.

Resumes can use many different formats successfully. What's important is the content and how it's presented. The bottom-line is that your resume must show clearly what you can do for the company to solve its challenges.
An effective resume emphasizes accomplishments and results, not how many years experience or how many impressive titles you've held. After a certain number of years even your education becomes secondary to the results you've created. "What can you do for me today" is the mantra of business in the 21st century. Keep this in mind as you position the key elements of your resume.
Avoid the functional approach advocated so often today. This format often takes on such an unnatural style it could easily be mistaken for fiction (and often is---one in six resumes contain false information). Lead by highlighting your latest and greatest achievements, going back no more than 10 to 15 years and listing only those that are pertinent to the job you are pursuing.
You shouldn't fear listing dates but you also shouldn't feel compelled to include your entire career history going back to the Viet Nam war. Dates for education aren't necessary either. Including them may bring up distracting questions such as why it took you six years to get your degree, why you got your MBA a decade later and, of course, how old you really are.

Don't expound upon your vast experience. These days it can be interpreted as being, well, "old." Yes, I know, you worked long and hard to gain that experience, and it was once considered a strong attribute for a job seeker. That was then and this is now. In these more enlightened times you are likely to be seen as "over qualified." At what point in American business history being too capable became a liability isn't clear (perhaps during the Bush administration), but you can't do anything about the craziness that exists in the world today. You can only adapt to it.

Capabilities count more than experience. Your experience should only support your capabilities. Employers read your resume from a strictly "what's in it for me" viewpoint. Of course, if you are a doctor or pilot or any profession that still values experience, this approach does not apply.

For most of us, experience more than 10 - 15 years old is irrelevant. As important as this experience was to your career success, unless there's a compelling reason remove it from your resume. At the same time, as an over 40 job seeker, you need to deftly "allude" to your experience and position it in a positive way. Unless you were in prison or stayed at home until your parents kicked you out at 35, the people interviewing you know you have experience. They also see you have two legs and assume you can walk too but you don't need to go on about hiking and running and dancing. Get the point?

FORMAT YOUR RESUME FOR THE COMPUTERS AS WELL AS THE HUMANS.
Make sure your resume is formatted to ping all the keywords that resume review software is set up to catch. You can learn more about this on job sites such as monster.com, Ladders.com and Careerbuilder.com.
Create both an online version of your resume and a hard copy version. When sending your resume online be sure to include it as both an attachment and pasted into the body of your email. Email a pasted copy to yourself first as a test to make sure it hasn't been inadvertently "reformatted" by your email provider. By sending two email versions and a hard copy you'll be sure to get the attention of the hiring reviewer. The hard copy will be so unusual these days that it's sure to get attention. Plus, they look nicer than email copies.

DON'T BE A BLIND JOB SEEKER.
Sending out resumes blindly to hundreds of potential employers is a fools' game, no matter what the job sites say. The shotgun approach will waste a lot of time and effort. The targeted "rifle" approach yields much better results. Go after jobs you want, can do well, and have researched thoroughly. Then tailor your approach to each one for best results.

Too many people hide behind online job hunting. Fewer than 5% of all jobs are secured entirely through online efforts. You need to put yourself out there personally. Get on the phone. Go to networking events. Network. Meet people face to face.

THE COVER LETTER.
Keep it short and sweet. Don't make it a recap of your resume though. Also, don't use the word "I" too often, especially to begin your sentences. Make your opening as strong as possible---it's the headline in your personal job ad. Don't say "It was a pleasure meeting you and blah, blah, blah." Instead say, "Your firm's need for a widget designer is an excellent match with my five-years of creating award-winning widgets that helped increase business for my clients by 200% or more in their first year."

Don't make your cover letter too long. No one these days seems to have an attention span longer than that of a fruit fly's sex life, so you need to cut to the chase. Three paragraphs or two and a couple bullet points max. Try to be specific and avoid being vague.

Don't forget to direct your letter at the company you are interviewing at---even if you have a standard "form" letter prepared. End your cover letter with a call to action, something like "I will follow up with you in a few days to answer any questions you may have. In the meantime you can reach me at (your phone number). Oh, and be sure to sign it. You won't believe how many letters go out unsigned (which is not a good sign to potential employers).

FOLLOW-UP.
After you've sent your resume to a company for consideration of a job opening, if they don't call back within two weeks leave a phone message and/or email once a week for the next five weeks---until you get a call back or a restraining order (just kidding). Never be discourteous and always sound upbeat and positive, even if you are suicidally depressed about your job hunting.

THE INTERVIEW.

Here is your list of interview tips.

1.Rehearse your interview. Ask a friend to role play the interviewer by asking questions, including some tough ones (like how much you think the company should pay you). Write out answers to these questions. Get one of the books available on job interviewing and study it. Winning Job Interviews or Job Interviews for Dummies are good interviewing guides.

2.Before the interview, ask the person you are meeting to tell you about the interviews. Who will you be meeting with? Are you meeting individually or as a group? What should you bring?

3.Prepare questions to ask the interviewer about the job. What is expected? Who will you report to or who will report to you? What are the challenges the company is facing. How can you contribute in the future? Focus the interview on how you can meet their needs, not on how wonderful your career has been at other companies.

4.Research the company and know their needs. Check out their website. Google the company to get a historical perspective. Research their competitors. Older workers aren't as savvy about doing this as most young job seekers are. In the interview, you'll be more impressive if you can talk knowledgeably about the company, its products and its competitors.

5.Show up on time. Make sure beforehand you have the date, time and especially the place correct. If you can't get this right do you think they'll seriously consider hiring you? You may even want to reconnoiter the business beforehand to feel more comfortable with the setting (outside, not inside).

6.Your first 10 seconds are crucial. According to research, first impressions really do count. More candidates were made job offers when they smiled, shook hands confidently and looked the interviewer in the eyes than those who did not. Candidates who trembled uncontrollably while sweat dripped down their face received no offers.

7.Find a common ground, if possible, with the interviewer. Perhaps you both went to Harvard or live in the same neighborhood or enjoy free jumping off cliffs. Don't obsess over attempting to find something though.

8.Present yourself as the solution to their needs---the ideal combination of what you are and what the employer is looking for in their new hire. Presumably this will also be true. Link your skills and capabilities to specific job functions.

9.If you can talk about how some recent project, preferably utilizing some high tech knowledge, led to a product breakthrough or huge increases in sales or the discovery of the Holy Grail, you will demonstrate your relevancy. Then steer the discussion to what this success could mean to your potential employer. Always be forward-looking in your job speak.

10.Never speak disparagingly of past employers or bosses, even if you worked for Vlad the Impaler at the Soylent Green factory.

11.Don't fidget or slouch or show up drunk and disorderly. Be confident---again, think Barack Obama or Johnny Carson. Avoid the Mickey O'Rourke style. Show some energy. Animate your face and use your hands to drive home a point. Look the interviewer in the eye (an unblinking stare however is not cool).

12.Avoid discussing money. To get an idea of what you might be offered you can go to salary.com to find out what the job likely pays in the market you would be working in. Remember, if they want you badly enough they will pay the going rate or more. You've first got to make them want you and that usually takes some time. If you are forced to shout out your salary expectations, go high. As they say, you can always go down.

13.Dress like you already have the job. Or your potential boss's job. If you're a surgeon though, don't wear your scrubs to the interview. Dress like the wealthy person you are.

14.Mind your hygiene. Bad breath or body odor can be a deal killer. And pop for a manicure (guys too). Oh, and trim any nose hairs that are trying to escape.

15.Always be polite and thank the interviewer afterwards, even if you feel as if you just spent the day being water-boarded at Guantanamo.

16.Ask the interviewer for a business card.

THANK YOU NOTES.

If you really want to get noticed, send a written thank you note as a follow-up to the interview. While it skirts the possibility of making you seem old-fashioned, it's so little done anymore than you may just stand out from the thousands of other candidates. In the thank you note, say that you are "very interested" in the position, and if all goes well, you would like to join the firm. A good salesperson will tell you that half the sale is just asking for it. The same goes for jobs. Very few people come right out and say they want the job.

If you don't get a response within a few days, call and politely say you are following up on the interview and ask if they would like you to answer any further questions. Ask directly if you are still being considered for the job. It shows you're not a namby pamby.

 

 

Who Says You Have to Retire at 65?

Do you want your retirement years to be lively? Is your current job, or career, fulfilling for you? If so, then maybe you are going to be joining the happy, busy ranks of those more than 70%, according to a recent AARP survey, who are planning a "working retirement." If working past your retirement date seems grim, then cheer up. There is a silver lining if you know where to look.

1) Continuing at your current job has its positives - you know the job. There are no learning curves, or the awkwardness of being the new kid.

2) If you have personal debt or you are close to paying off your mortgage, working a few more years at your current income can go a long way to eliminating expenses.

3) Continuing to draw a paycheck will allow you to delay Social Security, for a higher benefit in the near future. Your benefit will continue to increase up to age 70. Keeping that weekly paycheck coming will also prevent you from drawing down your savings too early.

4) Chances are if you are near retirement, you may be close to peak earning and benefit levels. Perhaps you want to boost your 401k levels by maxing out your contribution and taking advantage of the over 50 catch-up contribution. Your employer may even contribute to your account adding to your total. Health benefits will probably continue and can provide continued coverage for you, your spouse and possibly other family members. It can also provide as a bridge to Medicare or act as a supplement.

5) You might not be ready to quit working. You may need income, require some benefits, or just like to work. There are many people out there, who enjoy the challenges work brings and going out there each day to meet them. For you "retirement" may the beginning of a new career!
You may be feeling like "George." His wife Linda says, "George is in his sixties and while all our friends are talking about retiring, he doesn't want to quit. George likes his job, he has the option to continue full-time, or work in a per diem arrangement, as long as he wants. He's the kind of person that needs to be busy.

The income and flexibility in his job will allow us plenty of opportunity to enjoy ourselves without worrying about money. I have already stopped working, but this doesn't mean that my husband will. As long as we can enjoy more time together, then I am satisfied with his decision to stay in the workforce, for now." Linda and George have different dreams about retirement, but they have created a plan that works for them. Where do your dreams fit into your plans for retirement?

Mike Bonacorsi is a CERTIFIED FINANCIAL PLANNER^TM professional, public speaker and award-winning author of Retirement Readiness: A Guide to Creating Your Vision, Knowing Your Position, and Preparing for Your Future. You can listen to his radio show, The Mike Bonacorsi Show, at WSMN, 1590AM or on your computer at http://wsmnradio.com on Tuesdays from noon - 1:00 PM. For additional information, visit http://mikebonacorsi.com/. Reprinted with permission of the author. 2009© Mike Bonacorsi CFP® All Rights Reserved.

 

Job Hunting Over 40 Series Part 3

NO NEWS IS GOOD NEWS.

While you are looking for a job take a break from the news.  The news is often depressing and adds nothing of benefit to your life.  Instead of watching CSI Miami or Desperate Housewives, take the time you save---about 14 hours a week if you only watch two hours a day---and do something useful.  Enroll in a class to learn PowerPoint, read motivational books, study up on your industry or set up a Facebook page.  Make every minute of your time productive in some way, either personally or professionally.

YOUR OWN EXTREME MAKEOVER. 

Look at some magazines that feature “makeovers” to see just how much you can change your life with diet, exercise, fashionable clothes, better makeup, a new haircut and a positive mental attitude.  Oprah and More magazines run makeovers of regular people all the time.  Men’s Health, and occasionally GQ, do the same for men.  Seeing how dramatically regular people can change their looks is encouraging.

When you look at the “before” and “after” photos of people who have lost weight and toned up, the first thing almost everyone notices is how much younger the person looks.  It changes your entire appearance from tired and worn out to youthful and vigorous.  Doing your own makeover can be a life-changing act that will not only help get your career back on track but will open up opportunities you can only dream of happening. 

When Marie Osmond and Valeri Bertinelli lost weight and got fit their entire careers were revitalized.  It’s a story you hear over and over again from people who have found the will and done the work to make themselves over into the beautiful people they are inside.

YOUR SMILE IS YOUR FIRST IMPRESSION.

Now is a good time to go to the dentist for a good cleaning and checkup.  A bright smile helps project youth and vitality.  Teeth whiteners may be necessary if you drink coffee or wine.  Age tends to dull teeth as well.  During a first meeting, your smile and handshake are your two most powerful “calling cards.”

HAIR---OR NOT.

Re-evaluate your hair style too.  Is it contemporary?  Long hair, sometimes favored by Baby Boomers, is viewed more negatively than not in most professions.  Ironically, if your hair is thinning keeping it short gives the illusion of having more hair.  If you’re a guy with male pattern baldness, or very thin hair, you may want to go the Bruce Willis route.  Very short hair or none at all is “hip” now among guys of all ages.

If your hair is grey you may as well shout “old” from the rooftops.  Grey hair may look sophisticated or elegant but it does not say “young.”  Consider getting it colored or use a product like Just For Men to reduce the amount of grey.

Facial hair is also viewed negatively by a sizeable portion of people.  Now is not the time to have any negatives on your side.  Consider ditching the moustache and/or beard.  You’ll look younger with a clean-shaven face.  Women too.

NIP AND TUCK.

While some people might object, being out of work is an excellent time to have a “little work done” too.  If those sagging jowls, tired eyelids or wrinkled skin make you look old (of course it ---does), perhaps now is the time to engage a good cosmetic surgeon to take a few years off your looks.  Keep it conservative though; you don’t want to pull a Michael Jackson.

LOOKS COUNT---AS IN THE NUMBER OF YEARS PEOPLE THINK YOU’VE BEEN ALIVE.

It’s sad to say, but dozens of studies have proven that people who look better are considered more intelligent, capable and personable.  So, you should do what you can to improve your looks.  First impressions are made within 10 seconds in most cases.  Be sure your first impression is a good one.

On the other hand, don’t obsess about how you look.  You don’t need to look like Brad Pitt or Scarlett Johannsen---just the best version of yourself.  In fact, extreme good looks can be as big a detriment as extremely bad looks.

BAD HABITS.

While you’re making yourself over, drop some bad habits as well.  If you are one of the four adults who still have not gotten the message about the harm of smoking, now is the time to give it up.  Smoking decreases your stamina, wrinkles your face, and seriously degrades your health---not what employers are looking for these days.  Signing up for a good smoking cessation program will reap a lifetime (literally) of benefits.

GET RID OF WHAT’S HOLDING YOU BACK.

Likewise, if you have anger management, gambling, drinking or drug problems, now you have the time to rid yourself of these bad habits.  It can only help your career---and your life.

BUILD A PLATFORM FOR SUCCESS.

These days it’s important to create a “platform” that contributes to your “personal brand” in order to stand out from the masses of job seekers.   What sets you apart?  What skill have you developed that no one (or few) others possess?  What “style” reflects your personality best? 

Apple Computer’s Steve Jobs has a clearly defined “brand” image.  He’s a Baby Boomer who dresses in jeans and turtlenecks, wears stylish glasses and has trimmed his balding head into a “hip” short haircut.  He is a bold and dynamic leader and has learned to be an effective communicator.  He neatly reflects the same image as he wants his products to project.  He’s older but he’s not “old.”  His “brand” is drastically different from that of other contemporaries like Bill Gates and Michael Dell.

Your “platform” drives your “brand.”  Decide how you want to be perceived and then add the building blocks to create your personal style, skill-set, personality and charisma.  Branding yourself based upon a platform of truth, unique skills and personal style is a key ingredient to becoming successful.  In a job interview it will set you apart from dozens of other candidates who have no brand identity.  You want to do everything possible to give yourself an “edge” over your competitors and a clearly defined “brand image” will do that.

President Obama has a clearly defined branded personality.  He is a charismatic speaker, dresses professionally, almost never reacts emotionally or in anger, is a best-selling author, is confident, has a good sense of humor, is gracious, thoughtful and highly educated.  His “brand” beat out the other candidate (whose “brand” wasn’t as defined or as strong) for the job as president. 

How Misinformation is Unintentionally Spread Over the Internet

We all receive emails alerting us about a computer virus spreading across the Internet, or a 'can't miss' stock market tip, or scandalous information about a political candidate running for high office, or, most of the time, information about a deal that seems just too good to be true.

Your inclination, of course, is to immediately share the information with your family and friends. You select the names and hit the forward button-off the message goes to help others. You're feeling pretty good about yourself knowing that you're helping family and friends by sharing this nugget of vital information.Good intentions aside, however, more often than not the information you just sent is erroneous and, on more occasions then you might think, is outright and deliberately false.

Here's an example:
Recently, I received from a very level-headed friend an email containing urgent information about, of all things, "baby carrots." The email's subject line pronounced "Baby Carrots: Beware" dealt with a stern warning by an unnamed farmer against eating baby carrots.

The following is information from this unidentified farmer, who grows and packages carrots for IGA, METRO, LOBLAWS, and similar food outlets.

The warning, says my friend, appeared on Snoopes.com. She assumed the information was accurate and forwarded the email to her friends and family.The email asserts "once the carrots are cut and shaped into cocktail carrots they are dipped in a solution of water and chlorine in order to preserve them (this is the same chlorine used your pool) since they do not have their skin or natural protective covering, they give them a higher dose of chlorine."

The warning went on to say "You will notice that once you keep these carrots in your refrigerator for a few days, a white covering will form on the carrots, this is the chlorine which resurfaces. At what cost do we put our health at risk to have esthetically pleasing vegetables which are practically plastic?"

The email urged me to pass on the information to as many people as possible in the hopes of informing them as to where the carrots came from and how they are processed. "Chlorine is a very well known carcinogen," it warned.

A bit leery of the allegation, I opted not to forward the message.

The very next day a second email arrived from my friend. But this time to recant her assertion about the dangers of baby carrots and offered a genuine apology to the people she had sent the message."Sorry about this," she said ruefully. "My cousin [name intentionally omitted] checked this out on Snoops and it turns out this story is not true. I don't want to hurt [somebody's] business with false claims."

The lesson to be learned: Never forward an email about information than can not be verified by a reputable source, preferably one that is nationally recognized.

I still have great respect for my well-intentioned friend. And I know she learned a very valuable lesson.

 

 

Surviving Job Loss

There are many people who are now suddenly unemployed. Here are ten tips to help you deal with the turmoil and pain of losing a job you need and may love. My wish for you is that you never have to use them. 

1.     Don't let fear control you. Many people get frozen because they don't know what to do, so they opt to do nothing and instead just worry. It's appropriate to be concerned, but you also have to start making the necessary moves to insure your comfort and survival.

2.     Never underestimate the power of networking. Talk with people who can help you and follow any leads that come your way. Connect with others everyday to help you get another job. Send out resumes, and keep your contacts alive.

 3.     Find emotional support. There are numerous groups for the newly unemployed, many with counselors and job coaching. You don't need to tough it out, go it alone, or reinvent the wheel.

4.     Go on practice interviews. Even if it's a job for which you are way over qualified, or even under qualified, go on the interview. The more interviews you do, the more comfortable you will be with them, and when the right one comes alone, you'll nail it.

 5.     Apply for unemployment. It may not feel too good, but the real truth is that your previous employer paid for the insurance, and it is perfectly acceptable to use it. Also make sure you have some health insurance as well.

 6.     Don't try to mask your pain by substance use. Yes, a nice glass of wine can definitely take the edge off. But if you start having more than one drink or using drugs on a daily basis, pull yourself out of the pattern before it becomes an addiction.

7.     Don't spend too much time alone. You will need some time to grieve in order to move on, but you can't find a gig if you isolate, so get out there and investigate who is hiring. Remember that an in person meeting is always better than an e-mail.

 8.     Create a routine and stick to it. It is very easy to get out of the rhythm of going to work (or looking for work) every day. Make looking for a job your new job for right now.

9.     Beware of the desire to make big changes. Don't move to another town (or into your parent's house) right away. If you are financially strapped, having to move may be a necessity, but don't do it out of panic.

 10.  Research. Find out what others did who have not just survived but thrived after their jobs ended. There are also some great books on job hunting and creating home-based and Internet businesses.

 Dr. Goldsmith's new book "Emotional Fitness at Work" (Career Press) will be released this fall.

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