Do You Really Think The Company Will Fall Apart When You Leave?

When you become an integral part of a company and its growth, you can convince yourself that there is no way the company can run without you.  You may be a senior vice president for a large company running an elite sales force, a design engineer working on an important product, or even the CEO at the helm of the entire operation.  No matter how much you want to convince yourself and tell your friends that the company is surely going to fall apart without you, it just may be that you have the facts all wrong.  Companies often have a backbone much larger than we’d like to give them credit, and before your derriere hits the door you’ll merely be a distant name from the past. Of all the behemoths of companies out there, arguably Apple could be the 800 pound gorilla.   When Steve Jobs passed away on October 5th, 2011, many were convinced that Apple had no ...

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Five Financial Moves To Make When You Change Jobs

Whether you leave your employer or your employer leaves you, changing jobs can be one of those money triggering events when you begin to take stock of where you are financially.    Job changes often bring along new responsibilities and challenges, and experience tells us that analyzing and maximizing your new benefits package normally goes to the bottom of the barrel.    This makes a ton of sense as typically the first three to six months in a new position you are immersed with the learning curve of a new role at a new company.    Having a financial advisor by your side can be a valuable resource to make these important decisions.   Here are five financial moves to make when you change jobs. Get all of your 401(k)’s in one backyard– When you hop from job to job, you may have left your 401(k) at your former employer.    I often refer to these as orphan 401(k)’s because most participants don’t pay attention ...

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Can You Pay 0% Capital Gains Tax?

Most of us have heard through the major media outlets how tax law changes will adversely affect our overall income taxes here in 2013. It doesn’t take a rocket scientist to realize that when your expenses consistently exceed your revenue, cost cutting alone won’t improve your bottom line. This means that raising various types of taxes will definitely be one strategy to increase revenue in order to pay off the massive U.S. debt. The American Taxpayer Relief Act (ATRA) of 2012 was passed by Congress on January 1st, 2013 and was only a partial resolution to the fiscal cliff; just wait until fiscal cliff part II which will look more like ‘Hangover Part II’, Mike Tyson tattoo and all. While the ATRA did impose more taxes on the upper end of the scale and raised capital gains taxes on the very upper end of the income brackets, there is a unique opportunity for many Americans to look at their overall ...

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Can You Barter For Legal Services?

I wrote a few weeks ago in Your Smart Money Moves about how I found out through my research that the only people who can own or revenue share with a law firm are the lawyers themselves.  You have to give it up to the lawyers to be the only professionals who essentially blocked the rest of us out from owning a law firm.  But does the consumer lose with these sets of laws?    Over the years, I can’t tell you how many times I have heard clients utter the words, “I guess the only one who is going to win here are the lawyers.”    Mostly, I think people fear going to see a lawyer because of the unknown of just how much it is going to cost them to do work.  It doesn’t matter whether it’s estate planning, divorce, or doing contract review. I think over the next ten years we will see the legal field change its pricing ...

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Four Signs Your Job Might Be In Danger!

With the high unemployment we have today in the United States, it is more important than ever to prepare financially should you be laid off from your job.  You should make sure you have a fresh copy of your resume prepared in case of this unforeseen event.  We normally don’t wake up in the morning thinking that our job will be eliminated at our company, but here are four signs you should keep on your radar that your job may be on the cut line. Your Last Performance Review Was Lower Than Normal Most large companies will rate and rank their employees against a set of individual and corporate goals. They will have measures such as a G1 which equals far exceeds expectations, G2 above expectations, G3 meets expectations, G4 below expectations, and G5 far below expectations. Although many of think the last time we saw a bell curve being used was in our 9th grade chemistry class, large companies use bell curves each ...

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5 Financial Questions To Ask Yourself Right Now

With a roller coaster economy, high job unemployment, and increasing federal debt, this is the time to take stock and ask yourself some important financial questions to make sure you keep your financial house in order.  Here are 5 important questions to ask yourself now? Do I have an exit strategy with my investments? If the stock market has another free fall or your company stock takes a dive, how will you put some sort of cushion to secure those assets which have grown over the past year?  You should be asking yourself questions such as how far your money may go down before you exit the stock market, or how much it needs to make before you might take some profit off the table.  Learn from the ups and downs you saw in the early 2000’s and in 2007/2008. Do I have enough of a cash reserve? With job market uncertainty, you want to make sure you beef up ...

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You can’t retire by scanning Google.

Only recently have personal savings levels risen, where just a short while ago they were the lowest since the Great Depression when unemployment was more than 25%. (USA Today) Why is this happening? I have a theory, and it boils down to the fact that people in the X and Y generation just don’t read anymore. Remember when you were a kid and had to take those tests where you read a short story, and then had to answer a bunch of multiple choice questions around the story? I didn’t fare so well on those tests, but if people had to take them today based upon what they think they learned on the internet . . . surely we would be a failing class. ...

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Health Insurance by Arthur Benz

There are announcements almost every day of layoffs across the country. With roughly 10 percent unemployment across the United States people are concerned about their health insurance coverage. One of the things that we've been hearing is that people simply do not know whether to utilize COBRA coverage or purchase their own separate policies. written by Arthur Benz President, oXYGen Financial Insurance, Inc. Insurance Agency ...

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