John Labunski - Basic Guidelines for Retirement
Retirement planning is important for everybody, and you should have a clear plan as to where you want to be when you retire. Some of the questions people ask are: what is a 401k plan? When should I start saving for my retirement? How much returns should I expect from my investment annually? If you look at the past generations, you will notice that they retired comfortably, depending on social security or solid pension plans alone. However, that is not the case today. With around 10,000 Americans retiring every day, you need to be more efficient with your resources and plan for your retirement. Though you might be investing in a pension plan, you will need to be more resourceful to fund your retirement.
The common goals of retirement are:
1. Income…not growth. Retirement is all about an income to retire…for life!
2. Safety….in retirement you won the race, not do not lose it.
3. Growth…safe money investing does not give up gains, gains are easy once most seniors stop losing money in the market!.
4. Taxes….its your choice. You can pay the forever or never….you get to chose.
5. Be Prepared…..never allow your assets to sit, lose net worth, pay huge fees and jeopardize your retirement! What did your advisor do from October 7, 2007 until March 9, 2009 when the market fell over 50%? Why did he not call you and move you to safety? Answer…its not his job! His firm does not pay him to lose income for the firm….they were making money with your money. YOU WERE NOT! YOU LOST! WHY?
Envision Your Retirement Lifestyle
When you start planning for your retirement, you should envision your retirement lifestyle. Some of the things you will need to take into consideration is healthcare. Though you might not be spending as much as you did on food and transport, healthcare is one area that will require a considerable amount of your funds. You can check with the Social Security Administration to see what benefits will be available to you. Look at your employer’s 401k and retirement plan to get an idea what you will have when you retire. John Labunski of the popular Retirement Wealth Radio Talk program recommends consulting a retirement planning consultant when planning your retirement.
Retirement Planning Software
There are several retirement planning software you can use. Forbes Magazine recommends using Morningstar, ESplannner Plus and Quicken Retirement Planner to plan and take stock of your retirement plans. Using retirement planning software will give you an easy approach to planning your retirement independently. However, if you prefer speaking to someone about the different investment options available, you might want to ask your life insurance agent, banker, investment broker or attorney for advice.
John Labunski, a longtime and highly successful executive who has enjoyed full P7L responsibilities with multiple prestigious companies throughout his career, recommends focusing on your 401k plan and other investment options, instead of just depending on your social security for your retirement.
Different Types of Acoustic Guitars
The acoustic guitar is by far one of the most popular music instruments for music lovers around the world. This is because it does not need any amplification, and can be easily carried around and played anywhere, anytime. There are two types of acoustic guitars; the folk acoustic guitar, and the classic acoustic guitar. Under these two categories, there are other variations that are identified by their unique characteristics.
Classic Acoustic Guitar
The classic acoustic guitar is small and has a wide fretboard and uses nylon strings. This type of acoustic guitar is great if you want to play classical Jazz, Spanish or flamenco-style. Holding chords is easy as the strings are not hard on your fingertips, and most beginners use this type of guitar.
The folk guitar is larger than the classical acoustic guitar and uses bronze or steel strings. It has a richer sound because of its large soundbox and is popular with various styles of music like rock, blues, pop and folk music. There are different sizes available and based on the type of music you like. From the folk guitar, there are other variations available.
The Resonator is easily identifiable because of its steel sound-box. It was specially created to produce a higher sound and is used in various genres including pop, bluegrass and country music. The Resonator uses steel strings that produce a very metallic sound when played.
The 12-String Guitar
The 12-string guitar has another set of strings paired with its traditional set of six strings, and the resulting effect is a full-bodied sound unlike any other guitar. The four bass strings have partner strings that are thinner and tuned one octave higher than the normal strings. The top two strings have partner strings tuned to the same octave as the main strings. The 12-string guitar produces a beautiful bell-like chimes sound and is used for solo folk performances. The drawback with a 12-string guitar are the warping and string tension problems that will hamper you’re playing.
John Labunski is a guitar collector, as well as a longtime successful corporate executive, and current co-host of the highly popular Wealth911.com radio program.
Conducting Business with Christian Principals
As a Christian working in the business field, sometimes the heat of the moment can cause you to forget to work within the framework of your beliefs. By functioning in a manner that celebrates God in your interactions, your ideas, and your business plans, you will fully be walking the path that was intended for you. By trusting that your steps are being guided by God to ultimately bring you, your business, and your employees will achieve the greatest amount of success.
John Labunski, the celebrated founding partner of Lincoln Wealth Strategies and conservative radio talk show host specializing in retirement investment options, knows that his faith in God is what ultimately has led him to enjoy a long history of success in his career. He implores Christian business owners to consider the following steps to ensure that your business is following the right path.
1. Ensure that as a business executive, you are giving. Donate a portion of your income to charity, or give your time through numerous volunteer ventures. Be the example.
2. Operate with the highest levels of integrity in the workplace. Every business decision should be guided by God and the desire to only bring good into the world.
3. Ensure that you are using the talents and skills of your employees to their best benefit. Honoring others’ talents and skill sets is another way of honoring God.
4. Always treat employees and customers with kindness, no matter the circumstances. Employees look to you to set an excellent example, and they will follow suit. Operating from a place of kindness at all costs ensures that both your employees and customers feel as though they are treated as family.
Two Important Retirement Planning Tips You Should Not Ignore
Planning for your retirement should never be taken lightly. When you are planning for your retirement, it is advisable to seek the services of a retirement wealth advisor. Though you can plan your retirement without the assistance of a financial advisor, it would be better to seek professional assistance so as to find avenues where you can invest and allow your investments to grow. Here are two important retirement planning tips you should not ignore.
Start Saving Now and Later
You can start saving for your retirement as soon as you start working. There is no set time from when you should start saving. In fact the sooner you start saving for your retirement, the better will be your chances of having a sizeable retirement fund when you finally retire. One thing you need to keep in mind when you are saving for your retirement fund, and that is “compound interest”. In the words of Einstein, “Compound interest is the eighth wonder of the world. He who understands it earns it…he who doesn’t ….pays it.”
If a 25-year old person wants to have $1 million by the time he is 65 years old, he will need to save $345 per month for 20 years. And if there is an 8% interest per annum, it will amount to $1 million in 40 years’ time. If a 45-year old person wants to have $1 million by the time he is 65, he will have to save $1,698 per month for the next 20 years. While these financial goals might be unattainable for both the young and older person, it can become attainable if savings are made early in life and are managed properly with the help of a retirement advisor.
Update Your Retirement Plan
Over the years, the market will rise and fall several times, which is why you will need to update your retirement plan every couple of years. Apart from the fluctuating market, an addition to the family, college education, and other significant changes will require you to make changes to your retirement plan. While most financial planners will suggest modifying your retirement plan once every five years, it is recommended to review and make any necessary changes once every three years.
John Labunski is the Founder and CEO of Lincoln Wealth Strategies, LLC. He has enjoyed an accelerated career path from the very beginning of his career, and has quickly risen to multiple executive management and leadership positions for numerous prestigious corporations.
The Necessary Qualities of an Entrepreneur
Setting out to start your own business can be one of the bravest and most adventuresome experiences of your entire life. Having the opportunity to build a business from the ground up, to foresee it in its earliest stages and carry it through into existence is both an honor and one of the greatest creative endeavors a person can do. John Labunski, the founder of LWA Fund Advisors, is a highly knowledgeable financial specialist who deeply believes in helping his clients achieve the best possible investment opportunities. He is thrilled to support others who wish to build their own businesses, and he shares that the following qualities are what will ultimately push you through the initial stages.
1. Entrepreneurs are always thinking about their business. If you are completely unable to stop daydreaming about your future business, no matter where you are or what you're doing, there’s a chance that you’re never going to be fully happy unless you set out and make it happen.
2. Entrepreneurs must be deeply passionate about their potential business to thrive. Going in half-willingly simply isn’t enough with all of the long hours and financial investment. If you’re starting a business that provides a particular service, believing in the necessity of that service and knowing how to market it are essential.
3. Entrepreneurs must be organized to start a thriving business. Organizational skills are a must, and if for any reason you feel that you lack such skills, educating yourself in basic organizational skills would be very useful. At a certain point, you may have to hire people to help you accomplish tasks such as budgeting and handling various legal matters.
Saving Money - Housing
For many, finance can be a very tricky field. In fact, most people end up in debt, or living above their means. While it is ideal to save a minimum of 25% of your income, most people are incapable of doing better than 10%. Now remember that this is a percentage, meaning that it has nothing to do with how much you make, strictly with how good you are at budgeting and saving. Now while it can be difficult to master your finances, it is far from impossible. Remember a good common finance rule, that you ideally should save one dollar for every three that you earn. One of the most common things that prevent people from maintaining this ratio, is that they pay far too much for their housing costs.
Traditionally, most financial advisors and experts usually say the rule of thumb for housing costs is to spend only a third of your income on it. For a lot of people however, this is far too much money, especially when you consider things like car and student loan payments, child support, and business expenses. While each person’s individual budget and housing needs differ, it is more realistic that you should only be spending about 25% of your income on housing expenses if possible.
If you are having trouble spending less than 30% plus of your income on housing, start looking for ways to save. This could include cutting down on electricity costs, being more conservative with food, or simply seeking more affordable housing.
John Labunski is a finance expert who often comments how housing costs can be budget killers.
Saving Money - Avoid Spending Traps
Finance is one of the most difficult fields for the average person to master, especially when it comes to their own finances. This is because often we are not good judges of our own situation, as obvious bias can exist. The majority of people are in a state of financial ruin, which seems ridiculous because the world is populated by generally smart people. Well the problem is that there are equally intelligent people who are trying to take your money while you are trying to save it. This happens all of the time in the form of marketing, advertising, and special promotions, all designed by an elite team to part you with your hard-earned cash. It is these kinds of spending traps that encourage you to spend money with the illusion of saving it.
One great example of a classing spending trap is the rewards incentive that is offered by most credit card companies. Remember that these companies have one goal, to make as much money as possible, something that they can’t achieve by giving it away. The same thing applies to you and your finances. While rewards for spending sounds like a good idea, because you are getting money to spend money, you are always spending far more money than you are saving. Reward cards also usually carry hidden costs like a higher interest rate. So while it may seem like you are saving money, in reality you are actually losing money in a cleverly devised spending trap.
John Labunski is a finance expert who notes that you need to be wary about spending traps and marketing schemes.
Improving Finance - Debt Control
In finance, many people hear the word debt and start running for the hills. While debt isn’t always encouraged, it can actually be a good thing from time to time. That is because most debt is made as an investment of sorts.
The most important thing to do to improve your financial situation is to understand and be able to control the amount of debt you have. Too much debt and too little can both be detrimental to your financial situation. This is because with too little debt, you aren’t making any plays or taking any risks to improve.
Many debts come from things like student loans, which help you get a good education and in turn a good career. Debts can also be accumulated by receiving loans to open a business or buy a vehicle. These are necessary expenses that will help improve your financial situation in the long run.
The trouble with debt and finance is not that you should avoid debt all together, but you should find a good medium. This medium should have just enough risk to have an average growth rate and reward, without you worrying about being buried in debt. A common mistake people make in financing is overinvesting. Spending five or six years in college to earn a four year degree for instance. Things like this can make it much harder in the long run to dig yourself out of your hill of debt. That is why you need to find balance.
John Labunski is a finance expert that encourages people to find a happy medium of debt that allows career growth.
Improving Finance - Studying Taxes
Being the master of your own financial destiny is tough for many people. Often, at the end of the year, people look at their bank accounts and scratch their heads, wondering where all of their money went. This is a result of many things, including an egregious under education when it comes to finance. It is strange how in school we learn so many things about the social and physical sciences, but nearly nothing about finance, when that is one of the most important and pervasive parts of the average adults life. Well with a bit of proper study and research, you can turn financial troubles into a prospering bank account with a promising future retirement.
One of the best ways to ensure your financial future is to assess and understand taxes. Don’t be afraid to look up the specific tax rates of your local, state, and Federal area. By being educated and knowing how taxes will affect you, you can better understand your budgetary needs and how to save money. This is especially important for people who earn an income from a side business or by doing freelance work. It is easy to overestimate your income because you don’t consider things like income tax that you have to pay at the end of the year. Other additional fees such as ones that apply whether you are single or married can be quite costly. Also, tax mistakes and not understanding what qualifies as a deductible and what does not, can mean you are paying way more in taxes than is necessary.
John Labunski encourages people to study up on their tax law to prevent them from paying too much or too little.
John Labunski- Reaching Full Retirement Age
John Labunski advises many pre-retirement aged people. He says that many people who are approaching retirement know that you can get some extra money just by postponing receiving Social Security until 70, but they might not know that age 66 is the golden number. At age 66, reaching full retirement age (FRA) gets you some valuable extras. (Starting in 2021, FRA will rise two months every year until stopping at 67 in 2026.) Here are a few more perks that come with hitting 66.
For those of you who are married there is one easy way to get a little extra cash each year. One spouse should file for benefits off of the other spouse’s work record. This way the untapped spouse’s benefits can continue to grow each month. In fact, you can earn up to 32% in just four years.
The second plus to hitting full retirement age is that you are no longer subject to Social Security’s earnings test. Basically what this test does is take money away from your monthly check if your work income exceeds a certain amount. In 2015, if you’re 65 or younger you lose $1 in benefits for every $2 you earn over $15,720; if you turn 66 this year, it’s $1 for every $3 you earn over $41,880 before the month of your birthday.
John Labunski works with his clients who are approaching retirement by helping them find ways to secure their future through good investing and smart planning. He feels that many people don’t know about all the benefits that are available out there for them as they approach their golden years.
John Labunski - How Good Savings habits Can Keep You Healthy
John Labunski has found that over the years, there is probably nothing more stressful than money troubles. Bad money habits can take a toll on one’s health, whether it’s bills, credit card debt or bad investing. Studies have actually shown that those people who save wisely suffer less stress and therefore have better health. You don’t have to make a ton of money to save wisely. According to investment counselors, finding ways to save regularly not only helps provide financial security but may also contribute to keeping people healthy long enough to enjoy their retirement. Here are some ways to start saving today.
Probably the easiest way to save for the future is a 401(k) plan. Many of them now incorporate features like auto enrollment, and auto escalation of contributions. Most would be savers like these features and would enroll in plans that automatically contributed 6% of their pay. The hardest part of saving is allocating those funds every month, but the earlier you get started, the better. For example, let’s say you make $41,000 a year, and saved 8% of pay. It would be necessary for you to begin saving at age 20, so by age 65 your retirement income would be $29,000 a year.
John Labunski has worked with many newbie investors and helped them save for the future. He began first by helping his mother resolve her own financial crisis after following the advice of a well-known financial investment advisor. It was then that he knew he wanted to start his own company and help people plan for their retirement and show them how to invest wisely.
John Labunski - Ways to Secure A More Enjoyable Retirement
John Labunski is a financial advisor and the CEO of a reputable investment company. One topic he must tackle daily with various clients is how to plan for retirement. Failing to have the right plan in place can be disastrous. There are a few things that people can do in anticipation of their retirement. First of all, make sure to save as much as possible while you are still working. Sock away any bonuses, extra tax money, etc.
Assess your health and longevity. Are you a smoker? Do you have questionable health now? These factors can help you determine how long your money needs to stretch. It can also help you plan for medical expenses that may arise.
Once you’ve calculated your life expectancy, you can gauge how much you’ll be able to withdraw from your portfolio without going through your entire savings. Most experts agree that you can take out 4% of your balance in year one of retirement, if your life expectancy is 25 years.
As an extra insurance to your current portfolio, put some of your portfolio in a deferred-income annuity, also known as a longevity annuity. These annuities differ from other annuities, which pay out right away. They take about 15 or 20 years or more, to mature. It can be thought of as old age insurance.
John Labunski provides full financial, wealth and retirement services to all his radio listeners and potential clients. He wants to make sure each client’s goals and needs were met, so that they can enjoy their golden years.
1. John Labunski - Are you banking on Social Security?
Social security is a nice addition to one’s pension or retirement fund, but most likely is not enough to sustain you through your retirement years. Your personal savings and investments are the best bet when trying to cover the short fall.
The first step towards retirement is to start saving now. Most financial planners recommend that you save 10% to 15% of your income for retirement, starting in your 20s. The best way to get a true picture of what you will need to cover the gap between your social security and retirement needs is to estimate how much you need each year extra. On average you need about $15 to $20 in savings to cover each dollar of the annual difference between your income and your expenses.
Besides saving your money now while you are employed, investing is a good idea. Basically there are three investment categories, which include stocks, bonds, and cash. Your retirement accounts should contain a mix of bonds, stocks and a small amount of cash. Real estate can also be included as well.
John Labunski advises his clients to stay on the side of safe. It’s better to be safe than sorry when it comes to making sure you have enough money to live on once you can no longer work. His company Lincoln Wealth partnered with Fund Architects LLC., a move aimed at making sure each client’s goals and needs are met. Fund Architects is a full -service money management firm who share the belief that preventing loss is the true key to success for seniors.