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Friday Night Fright! All Hallow’s Eve, Arianna Huffington, the World Series and More!

Benefit-NEWBrighter2

Friday Fright from the

Desk of Gurdayal Singh…

October 28, 2016

HAPPY HALLOWEEN!

Click to view events in the Inland Empire!

WTF Fun Fact

This is a blog for interesting and funny facts. They post about health, celebs/people, places, animals, history information and much more.

24 Most Scenic Restaurants in California

OpenTable, the online restaurant reservation site, has named the nation’s top 100 most scenic eateries, & nearly 1/4 of them are in California.

World Series, Game 3, series Tied 1-1

The Cleveland Indians are at Wrigley Field for the Chicago Cub’s fans’ first time since 1945! Game time 8PM ET, on FOX

How to Succeed? Get More Sleep!

Since collapsing from exhaustion herself, Arianna Huffington has become something of an apostle of sufficient rest.

 

 

What Do You Know About Long-Term Care?

long-term-care

LONG-TERM CARE…DID YOU KNOW?

 

> At least 70% of people over 65 will need long term care services and supports at some point in their lives.
(Source: 2016 Medicare & You, Centers for Medicare & Medicaid Services)
> About 68% of nursing home residents and 72% of assisted living residents are women.
(Source: Long-Term care Services in the United States: 2013 Overview, National Center for Health Statistics)
> The national median daily rate in 2015 for a private room in a nursing home was $250, an increase of 4.17% from 2014.
(Source: Genworth 2015 Cost of Care Survey, March 2015)
> The average length of a nursing home stay is 835 days.
(Source: CDC Vital and Health Statistics, Series 13, No. 167, June 2009)
> At a median daily rate of $250, an average nursing home stay of 835 days currently costs over $208,000, making it virtually unaffordable for many Americans.
> Medicare does not pay for long-term care services, as explained by the Social Security Administration:
“About Social Security and Medicare…
Social Security pays retirement, disability, family and survivors benefits. Medicare, a separate program run by the Centers for Medicare & Medicaid Services, helps pay for inpatient hospital care, nursing care, doctors’ fees, drugs, and other medical services and supplies to people age 65 and older, as well as to people who have been receiving Social Security disability benefits for two years or more. Medicare does not pay for long-term care, so you may want to consider options for private insurance (emphasis added).”

Please contact my office if you’re interested in discussing possible long-term care funding solutions.

MESSAGES
from the Masters…

CHANGE BEGINS WITH CHOICE

by Jim Rohn

Any day we wish; we can discipline ourselves to change it all. Any day we wish; we can open the book that will open our mind to new knowledge. Any day we wish; we can start a new activity. Any day we wish; we can start the process of life change. We can do it immediately, or next week, or next month, or next year.

We can also do nothing. We can pretend rather than perform. And if the idea of having to change ourselves makes us uncomfortable, we can remain as we are. We can choose rest over labor, entertainment over education, delusion over truth, and doubt over confidence. The choices are ours to make. But while we curse the effect, we continue to nourish the cause. As Shakespeare uniquely observed, “The fault is not in the stars, but in ourselves.” We created our circumstances by our past choices. We have both the ability and the responsibility to make better choices beginning today. Those who are in search of the good life do not need more answers or more time to think things over to reach better conclusions. They need the truth. They need the whole truth. And they need nothing but the truth.

We cannot allow our errors in judgment, repeated every day, to lead us down the wrong path. We must keep coming back to those basics that make the biggest difference in how our life works out. And then we must make the very choices that will bring life, happiness and joy into our daily lives.

And if I may be so bold to offer my last piece of advice for someone seeking and needing to make changes in their life – If you don’t like how things are, change it! You’re not a tree. You have the ability to totally transform every area in your life – and it all begins with your very own power of choice.

QUOTES
from the Masters…

On Experience

“Don’t let the learning from your own experiences take too long. If you have been doing it wrong for the last ten years, I would suggest that’s long enough!”

— Jim Rohn

“For years I have been accused of making snap judgments. Honestly, this is not the case because I am a profound military student and the thoughts I express, perhaps too flippantly, are the result of years of thought and study.”

— George S. Patton

On Mastery

“With more success, comes greater problems along with greater ability to solve them.”

— Mark Victor Hansen

“Challenge everything you do. Expand your thinking. Refocus your efforts. Rededicate yourself to your future.”

— Patricia Fripp

“A professional is a person who can do his best at a time when he doesn’t particularly feel like it.”

— Alistair Cooke

Published by The Virtual Assistant; © 2016 VSA, LP

 

© 2015 BenefitConsultantInc | All Rights Reserved

 

Friday Funday!

Happy Friday! From the

Desk of Gurdayal Singh…

October 21, 2016

Mother in Law Day

Sunday October 23, 2016

National Mother-in-Law Day is observed annually on the fourth Sunday in October.

It is a special day to honor the mother

of your spouse.  

The Fact Site

Filling your head with random facts like these will not make you the next Einstein, but they’re great ice-breakers to entertain a group.

Cure Your Procrastination

It’s so simple there’s no excuse not to try it!

20 Best Foods for Your Heart

Add these to your meal instead of salt or butter for a really simple heart-healthy choice.

Margaret Heffernan: Dare to Disagree

Let’s not all just get along, suggests entrepreneur Margaret Heffernan in her TED talk, arguing that, in general, we’re much too conflict averse for our own good.

 

 

 

 

 

What Is An Annuity?

Retirement Readings

October 19, 2016

WHAT IS AN ANNUITY?

In planning for financial security in retirement, an annuity can satisfy two basic objectives:

1. To accumulate retirement assets on a tax-deferred basis: If you’re already contributing the maximum to IRAs and any employer-sponsored retirement plans and need to save more for retirement, a deferred annuity may be the answer to your retirement savings need.

2. To convert retirement assets into an income that you cannot outlive: On the other hand, if you’re near or at retirement, an immediate income annuity can be used to convert existing retirement assets into a lifetime income.

An annuity is a long-term savings plan that can be used to accumulate assets on a tax-deferred basis for retirement and/or to convert retirement assets into a stream of income.

While both are insurance contracts, an annuity is the opposite of life insurance:

  • Life insurance provides financial protection against the risk of dying prematurely.
  • An annuity provides financial protection against the risk of living too long and being without income during retirement.

If you are already contributing the maximum to an IRA and/or an employer-sponsored retirement plan, an annuity can be an excellent way to save for financial security in retirement.

Contact my office if you’d like additional information on the role an annuity might play in your retirement planning.

MESSAGES
from the Masters…

THINKING LIKE A FARMER

by Jim Rohn

One of the difficulties we face in our industrialized age is the fact we’ve lost our sense of seasons. Unlike the farmer whose priorities change with the seasons, we have become impervious to the natural rhythm of life. As a result, we have our priorities out of balance. Let me illustrate what I mean:

For a farmer, springtime is his most active time. It’s then when he must work around the clock, up before the sun and still toiling at the stroke of midnight. He must keep his equipment running at full capacity because he has but a small window of time for the planting of his crop. Eventually winter comes when there is less for him to do to keep him busy.

There is a lesson here. Learn to use the seasons of life. Decide when to pour it on and when to ease back, when to take advantage and when to let things ride. It’s easy to keep going from nine to five year in and year out and lose a natural sense of priorities and cycles. Don’t let one year blend into another in a seemingly endless parade of tasks and responsibilities. Keep your eye on your own seasons, lest you lose sight of value and substance.

QUOTES
from the Masters…

On Personal Responsibility

“It is not what happens that determines the major part of your future. What happens, happens to us all. It is what you do about what happens that counts.”

— Jim Rohn

“Our ultimate freedom is the right and power to decide how anybody or anything outside ourselves will affect us.”

— Stephen Covey

“The amount of satisfaction you get from life depends largely on your own ingenuity, self-sufficiency, and resourcefulness. People who wait around for life to supply their satisfaction usually find boredom instead.”

— Dr. William Menninger

On Overcoming the Negative

“The greatest pleasure in life is doing what people say you cannot do.”

— Walter Bagehot

“As long as you think the problem is out there, that very thought is the problem.”

— Stephen Covey

“Hatred is the most destructive force on earth. It does the most damage to those who harbor it.”

— Nido Qubein

“You are positive, creative and happy to the degree to which you eliminate negative emotions from your life.”

— Brian Trac

Published by The Virtual Assistant; © 2016 VSA, LP

 © 2015 BenefitConsultantInc | All Rights Reserved

 

Friday Fun: Fingers, Mental Habits, Atta-Boys & More…

 Benefit-NEWBrighter2

Friday Fun from the Desk of Gurdayal Singh…

October 14, 2016

10 Ways to Exercise Hands and Fingers

We spend hours typing, either keyboards or PDA’s, and take them for granted. Hand and finger exercises can help strengthen your hands and fingers, increase your range of motion, and give you pain relief.

Mental Habits That Will Make You Much Smarter

According to an MIT Neuroscientist, IQ is largely fixed, but intelligence depends on context and approach.

The Power of Recognition

Why do so few leaders do a truly outstanding job of recognizing their employees?


The Toilet of the Future Is Weird and Awesome

No need to be shy or shocked…we all use them!

Video – Jason Fried: Why Work Doesn’t Happen at Work

This talk from the Basecamp co-founder and author in a nutshell, according to TED: “Jason Fried has a radical theory of working: that the office isn’t a good place to do it. He calls out the two main offenders (call them the M&Ms) and offers three suggestions to make the workplace actually work.”

 

 

Health Care & Your Financially-Secure Retirement

 

Health Care In Retirement

October 12, 2016

HEALTH CARE IN RETIREMENT

The Need…

The rising cost of health care in the United States has become one of the primary risks to a financially-secure retirement. With health care costs expected to continue increasing faster than inflation, the time to plan for your future health care needs is now…before you retire.

Your ability to enjoy a financially-secure retirement can be enhanced by planning for future needs such as:

Long-Term Care Services: Are you familiar with the variety of long-term care services available? If it becomes necessary, what type of long-term care services would you prefer? How will you pay for any needed long-term care services?

Advance Directives: Have you communicated your medical care wishes in the event you suffer a catastrophic medical event? Have you named someone else, a spouse or other family member, to make medical decisions for you in the event you are incapacitated?

Paying for Health Care in Retirement: Do you know what your out-of-pocket health care costs might be after you retire? Are you aware that Medicare, while it covers many health care costs, has significant limitations? Are you familiar with the various types of insurance that can help pay health and long-term care costs not covered by Medicare?

Did You Know:

  • In 2014, men reaching age 65 had an average additional life expectancy of 18 years, while women reaching age 65 could expect to live an additional 20.5 years on average. (Source: A Profile of Older Americans: 2015, U.S. Department of Health and Human Services)

  • While estimates vary, a couple retiring at age 65 without private health insurance from a former employer can expect to pay significant out-of-pocket health care costs during their retirement years. Fidelity Investments, for example, estimates that a 65-year-old couple who retired in 2015 needs about $245,000 to cover medical expenses throughout retirement, a 29% increase from the $190,000 estimated for those retiring at age 65 in 2005. This estimate applies to retirees with traditional Medicare coverage and does not include costs of dental care, long-term care or over-the-counter medicines. (Source: 2015 Retiree Health Care Costs Estimate, Fidelity Investments)

  • At least 70% of people over 65 will need long term care services and supports at some point in their lives. (Source: 2016 Medicare & You, Centers for Medicare & Medicaid Services)

  • The national median daily rate in 2016 for a private room in a nursing home was $253, an increase of 1.24% from 2015. (Source: Genworth 2016 Cost of Care Survey, Arpil 2016)

  • The average length of a nursing home stay is 835 days. (Source: Centers for Disease Control and Prevention, Nursing Home Care FastStats, last updated May 2014)

  • At a median daily rate of $253, an average nursing home stay of 835 days currently costs over $211,000.

If you would like assistance in planning for your health care needs in retirement, please contact my office.

 

MESSAGES
from the Masters…

RESPONSIBILITY by Joe Rubio

Responsibility is simply the ability to respond at any time and to any situation in a way that honors you as a person and supports you in your relationships with others.

Contrast this with how we have been trained to view responsibility. Responsibility does not involve blame, fault, or burden. Not being responsible does not connote shame, guilt or unworthiness. It does not involve a value judgment subject to someone’s opinion about how you “should” do something or how someone ought to run their lives.

Responsibility instead involves taking full acceptance for every event, relationship, action and situation that occurs in your life. It is not “true” that you bring about everything that shows up around you in life. It is merely an interpretation that everything you do, whatever you have in your life, and how you show up for others is your creation. This posture is one you can take on to empower you to be the source of what happens to you in life. Being responsible means that there are no victims created by events in life. In some way, consciously or not, deliberately or by accident (and there are no accidents), every person, circumstance, event or challenge we encounter in life is the result of decisions we have made.

This is not to say that events do not occur that are outside of the scope of our influence. Such situations certainly do take place. To say that we are responsible for everything that happens around us is simply a declaration that supports us to be in choice. It is a place we stand as we invoke our personal power to choose.

Responsibility is always in the present, never about the past. It is simply a place to stand from which to look at the world as you make a choice about some action you may take. It does not make anyone wrong or at fault. And it does not involve manipulation.

When any situation occurs which touches our lives, taking responsibility means that we take the interpretation that it simply occurred as opposed to the interpretation that it happened to us. Having responsibility implies that you are the designer and builder of who you are, what you have and what you do. And, since it’s your creation, you get to change it if what you see around you is not to your liking.

Taking responsibility means giving up your right to make others wrong while saying what you need to say to forward the action without harboring ill feelings or thoughts of resentment or getting back at the person in some way.

People who take responsibility are empowered to respond to any situation with a self assured, personal power and knowledge that they can affect change.

Remember, you are the source for what you attract in the world. Claim responsibility for EVERYTHING in your life and decide to take the necessary steps to impact what shows up around you.

QUOTES
from the Masters…

On Preparation

“Nothing is more powerful for your future than being a gatherer of good ideas and information. That’s called doing your homework.”

-– Jim Rohn

“From product knowledge springs the expertise to work with clients in the effective and professional manner that earns high income. Invest ten minutes daily reviewing your product information or using your product so you know it inside and out.”

-– Tom Hopkins

“It is better to be prepared for an opportunity and not have one than to have an opportunity and not be prepared.”

— Whitney Young, Jr.

On Worry/ Fear

“Positive, continuous action toward your goals is the very best antidote to worry.”

-– Brian Tracy

“As the ostrich when pursued hideth his head, but forgetteth his body; so the fears of a coward expose him to danger.”

— Akhenaton

“He who fears being conquered is sure of defeat.”

— Napoleon Bonaparte

Published by The Virtual Assistant; © 2016 VSA, LP

© 2016 BenefitConsultantInc | All Rights Reserved

 

Full of Fun For Friday: Columbus Day, Nobel Peace Prize, Fall Pumpkin Recipes…

Happy Friday! From the

Desk of Gurdayal Singh…

October 7, 2016

Monday is Columbus Day!

Columbus Day is a national holiday which officially celebrates the anniversary of Christopher Columbus’ arrival in and the discovery of the American Continent on October 12, 1492.

Courts, state and federal government offices and DMV customer service offices are closed. There will be no mail deliveries and most banks are also closed.

19 Genius Ways You Can Add Pumpkin To All Of Your Meals This Fall

Chili, Fries, Pizza…Yes, all made with Fall Favorite: Pumpkin!

Time to get organized! It’s Financial Planning Month!

Did you know October is Financial Planning Month? In honor of this month’s theme, please contact me so I can share tips and tools for planning and advocating for your financial future.

Paolo Cardini: Forget Multitasking, Try Monotasking

You do it, I do it, we all do it. We live in a multitasking world, but according to designer Paolo Cardini, we all just need to cut it out and relearn how to focus on just one thing at a time.

 

 

Do You Know The Estate Probate Process?

 

 probate

October 5, 2016

 

THE ESTATE PROBATE PROCESS

Probate is simply the Latin word for prove, which means that the estate probate process is the process by which your will is brought before a court to prove that it is a valid will. The courts charged with this responsibility are generally known as probate courts, which may actually supervise the administration or settlement of your estate.

The probate process is governed by state statutes that are intended to accomplish three primary objectives:

1. To preserve estate assets.

2. To protect the rights of creditors in the payment of their claims before the estate is distributed to the heirs.

3. To assure that the heirs receive their inheritance in accordance with the terms of the estate owner’s will.

Once the estate’s personal representative (executor or administrator if the estate owner died without naming a personal representative) is approved by the probate court and posts any bond that is required, the probate process generally proceeds as follows:

 

The personal representative must “prove up” the will — prove that it is a valid will signed by the estate owner who was competent and not under duress or influence at the time of signing.

Notice must be given by the personal representative to all creditors to make prompt claim for any money owned to them by the estate.

The personal representative must prepare and file an inventory and appraisal of estate assets.

The personal representative must manage and liquidate estate assets as appropriate to pay all debts, fees and taxes owed by the estate.

Finally, the remaining estate must be distributed to the heirs in accordance with the estate owner’s will (or the state laws of intestacy if there was no will).

It is not uncommon for the probate process to require a year or more and considerable expense before the estate is finally settled.

Proper planning, however, can serve to minimize the impact of the probate process on your estate and heirs.

MESSAGES
from the Masters…

TOP TEN WAYS TO GENERATE BRILLIANT IDEAS

by Darren Roberts

Here you will find ten of the best methods I have used in my organization for idea generation. They have worked for me very well. I now share them with you. I trust they will assist you in your endeavor as they have done with mine.

1) DEFINE THE PROBLEM

To generate ideas to solve business problems, we all need a starting point. You will not be able to fly from New York to Frankfurt, Germany until you first arrive at JFK. If you don’t exactly know where you are, you will need a map to pinpoint your current location and then gradually work your way to JFK airport.

It is imperative that you establish where you are before looking to progress. In other words, study the map that will take you to New York thoroughly.

2) BRAINSTORMING

You have probably heard of this brilliant method. Simply, a group of people get together and simply write down as much as they can in relation to the objectives outlined. Don’t worry about strategic planning or anything like that. Concentrate solely on idea generation. Place a time limit on the group and choose the location and the time well so that they are conducive to performance.

Make sure that everybody is at their peak and has been instructed to “Think Big.” I have been able to move mountains after a very healthy brainstorming session.

3) FOCUS ENTIRELY ON WHAT YOU WANT

To give your ideas the best chance to sprout for your business solutions, you are going to need to switch off to outside influences. Tolerate nothing! Eradicate the distractions, the daily frustrations and predictable dramas of your life once and for all!

Don’t just fix the problem, redesign your routine so the predictable irritations can’t ever bother you again!

4) HAVE A GENUINE INTEREST IN WHAT YOU ARE TRYING TO SOLVE

Do you remember your schooling days when you participated in sports (or particular class subjects) that you absolutely detested; as back then, they were compulsory? Do you remember how good you were at these activities? Probably not as it doesn’t present itself as a good memory. But it’s probably safe to say that you didn’t perform well.

It’s very difficult to perform magnificently at something you’re not overly fond of. If you have a vested interest in what it is you’re trying to do, the likelihood of success is multiplied substantially. If you are trying to solve something that bores you to tears, for heavens sake give it to someone who really likes it. This concept encompasses teamwork, which is another subject altogether.

If you are self-employed, you will have an automatic interest (taking into account that you have a vision of what you want your business to become).

5) LOOK AT PARALLEL PROBLEMS & SOLUTIONS

Relate your current problem to one that you had in the past and check for parallels between the two. The way(s) earlier problems were solved can assist you greatly in generating ideas to solve subsequent situations that present themselves.

Think laterally, think vertically, think logically. The best ideas will always come from groups working for the common goal. Give your group as much opportunity to be creative by listening twice as much as speaking. Do this as informally as possible and get past situations into the open.

You can then draw on the past successes and take them a step further with the challenge of today.

6) LOOK AT EACH TASK AS A CHALLENGE

It’s true that if you look at a problem simply as a “problem,” then that is exactly how many will look at it. Sure it is a problem and, therefore, needs a solution. However, this thought should not be in the forefront of the mind when looking to turn this “problem” into an “asset.”

The word “problem” tends to sum up negative thoughts within us. It is these negative thoughts that can almost act as a barrier to its resolution. Now if we turn the coin over and look at it from the other side (using our example in step 1), we can look at the trip from wherever we are to New York as an adventurous challenge. It is simply by this method that we have more positive thoughts within our mind and are more likely to enjoy ourselves along the way, presented with an interesting challenge as opposed to a potentially difficult problem.

Just look at the goal. How happy will you be when you arrive at Frankfurt?

7) TURN THE CHALLENGE/PROBLEM INTO A CATCHY EXPRESSION

Okay we have looked at using past example and creating parallels to “answer our challenge.” One step further is to present the challenge as a catch phrase.

Using our same example:

‘Aunty Jackie’s For Christmas’
‘Frankfurt Or Bust’ (Hmmm!! This one’s a bit old)
‘Europe For The Summer’
‘Dream Trip Of A Lifetime’
‘The European Cultural Experience’
‘Tomorrow travel at 250kmh legally’

Doing this will give everyone an idea of the benefits associated with solving the problem at hand. It puts them in the situation that they are already there.

It’s so much easier to get there with a popular vision on the mind. What expression would you suggest?

8) DAYDREAM!!! LET YOUR CREATIVE SUBCONSCIOUS WORK FOR YOU!!!

It’s no strange coincidence that during the time you drive along staring out the window, sleep in your bed, undertake your daily duties at work or anything for that matter, your subconscious continues to work for you (even though you may not always be fully aware of this).

How often have you been doing something totally unrelated and then suddenly an idea snaps into your mind? Often? Sometimes? Never? In any case after you have put considerable time into solving your problem, you will find your inner mind will work for you. Sometimes if you try too hard to solve something, you end up with nothing short of major frustration.

So, as the expression goes “chill out,” have a break and sleep on it. You may be surprised at how successful switching off can be.

9) ALTER YOUR ROUTINE REGULARLY

Have you ever noticed how easily we accumulate habits? Many habits can actually stifle your creativity. If you are someone who:

‘travels the same route each day’
‘works at the same desk and task day in day out’
‘mixes with the same people regularly’
‘takes your annual holidays to the same place each year’

To continue generating healthy ideas to better our work, our surroundings, our family, etc., we must continually be looking for “newness.” Familiarity is very good in that it makes us feel very secure. It is this very security that closes our mind to change and restricts our creative abilities.

Take the bus or the train across town or maybe even just a different route from time to time, broaden your job responsibilities, take on another sport or leisure activity and meet some different people with a different outlook.

You will be quietly surprised at how much positive energy you will get from doing things as small as that outlined above.

10) CARRY A NOTEPAD

I always have a notepad with me. I am now at the point where I can’t live without one of the most simple devices known to man, which has probably been around almost since the days of the “Cave Man.”

A pen with a pocket-size pad is brilliant, as you can capture every idea that comes to you. It’s absolutely useless to say, “I’ll write it down later,” as the chances are very slim that you will in fact do that at all.

They will be your ideas. Capture them, preserve them, apply them.

Think Successfully.

QUOTES
from the Masters…

On Purpose

“You must be single-minded. Drive for one thing on which you have decided.”

-– George S. Patton

“Our lives begin to end the day we become silent about things that matter.”

— Martin Luther King, Jr.

“The single common denominator of men and women who achieve great things is a sense of destiny.”

-– Brian Tracy

“When you have a clear purpose, you won’t have time for negativity.”

-– Mark Victor Hansen

On Self-Esteem

“Total, unconditional acceptance of yourself is the first step in building a positive self-image.”

-– Nido Qubein

“The core of your personality is your self-esteem, ‘How much you like yourself.’ The more you like and respect yourself, the better you do at everything you attempt.”

-– Brian Tracy

“No matter what age you are, or what your circumstances might be, you are special, and you still have something unique to offer. Your life, because of who you are, has meaning.”

— Barbara De Angelis

© 2015 BenefitConsultantInc | All Rights Reserved

 

October Arrives with A Black Moon, Pet Trusts, Fall Foods & Disneyland’s Halloween!

 Benefit-NEWBrighter2

Friday Fun from the Desk

of Gurdayal Singh…

September 30, 2016

October 1st is the Final

Deadline for self-employed & small business to establish SIMPLE IRA for 2016

What is a Black Moon?

The second new moon in a single month is known as the Black Moon. It occurs about once every 32 months.

Friday, Sept 30th, we have one at approximately 5:11pm PST!

Estate Planning & Pets

Silly to some; serious to others…But if you have a Pet what will happen if we die?

14 Fruits and Vegetables You Need to Eat This Fall

Cranberries and gourds have had a nice run, but it’s time for them to share the spotlight with some other fall fruits and veggies.

Halloween Time at the Disneyland

Disney’s frightfully fun Halloween celebration at the park is back through October 31ST!

The Happy Secret To Better Work

We believe that we should work to be happy, but could that be backwards? In this fast-moving and entertaining talk, psychologist Shawn Achor argues that actually happiness inspires productivity.

 

 

Do you know what the 2016 Qualified Plan Contribution/Benefit Limitations are?

September 28, 2016

 

contributions

 

2016 Qualified Plan Contribution/Benefit Limitations:

Type of Plan

Maximum Deductible 2016 Contributions/Benefits

(only the first $265,000 of compensation can be used in applying these limits)

Money Purchase Pension Plan

Annual additions cannot exceed the lesser of 100% of the participant’s compensation or $53,000.

Profit-Sharing Plan

Annual additions to individual plan participants cannot exceed the lesser of 100% of the participant’s compensation or $53,000.

401(k) Plan

Employer contributions: Up to 15% of covered payroll. Elective employee deferrals: $18,000 ($24,000 if age 50 or older)

Allocation limits: Total of employer contributions and elective employee deferrals cannot exceed the lesser of 100% of a participant’s compensation or $53,000.

Simplified Employee Pension (SEP) Plan

Annual additions cannot exceed the lesser of 25% of the participant’s compensation or $53,000.

SIMPLE Plan (401(k) or IRA)

Maximum annual salary reduction deferral: $12,500 ($15,500 if age 50 or older)

Target Benefit Pension Plan

Annual additions cannot exceed the lesser of 100% of the participant’s compensation or $53,000.

Defined Benefit Pension Plan

Benefit provided cannot exceed the lesser of 100% of the average of the participant’s highest three consecutive years of compensation or $210,000.

Tax-Sheltered Annuity

Maximum annual salary reduction: $18,000 ($24,000 if age 50 or older)

Section 457 Plan

Maximum annual deferral: $18,000 ($24,000 if age 50 or older)

NOTE:

Withdrawals from a qualified plan prior to age 59-1/2 may be subject to a 10% early withdrawal penalty, as well as taxation.

Are you taking full advantage of the power of tax deductions and tax-deferred accumulations in your retirement planning?

MESSAGES
from the Masters…

WHAT ARE YOU WAITING FOR?

by Paul J. Meyer

Are you waiting for some special deal at the end of a month…or at the end of a quarter…or at the end of some calendar date?

IF SO, WHY?

There is a far better way:

Accept personal responsibility for your own life…
Accept personal responsibility for your own failure…
Accept personal responsibility for your own success.

The way OUT OF THE DEPENDENCY on expecting someone else to motivate you to take action with some special deal is to really, really accept responsibility for your own daily activity in your business!

This means YOU initiating action…

It means being personally responsible for your actions each day:

Making “x” number of calls a day…do it now!
Making so many presentations a day…do it now!
Getting in on some three-way calls for recruiting each day…do it now!
Getting leads for prospects from each person you sell…do it now!
and…

Have a goal to do some activity every day in your business.

Then the local meetings, the regional meetings, and the national meetings are not the cake itself. Rather, they become the frosting on the cake.

These events will then help you get twice as much…or five times as much…benefit if you have been responsible for doing all you could have done on a daily basis. You will have momentum going into these recruiting meetings, event weekends, training weekends…

IN OTHER WORDS…

STOP WAITING…
TAKE ACTION NOW!

QUOTES
from the Masters…

On Desire/ Motivation

“The best motivation is self-motivation. The guy says, ‘I wish someone would come by and turn me on.’ What if they don’t show up? You’ve got to have a better plan for your life.”

— Jim Rohn

“Desire is the starting point of all achievement, not a hope, not a wish, but a keen pulsating desire which transcends everything.”

— Napoleon Hill

“The only real limitation on your abilities is the level of your desires. If you want it badly enough, there are no limits on what you can achieve.”

— Brian Tracy

“The difference between the impossible and the possible lies in a man’s determination.”

— Tommy Lasorda

On Experience

“Life is a succession of lessons which must be lived to be understood.”

— Ralph Waldo Emerson

“Experience is an asset of which no worker can be cheated, no matter how selfish or greedy his immediate employer may be.”

— Napoleon Hill

“Take time to gather up the past so that you will be able to draw from your experiences and invest them in the future.”

— Jim Rohn

“Develop wisdom in sales by reflecting on your experience, and learning everything you can from every call.”

— Brian Tracy

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