12 May 2017

We're talking Retirement Savings Accounts on The Marriage Talk Show!

Posted in Savings

Let's tak a deep dive into 401k, 403b, 457b plans!

Join me on The Marriage Talk Show - Retirement Saving

Join me on Saturday 5/13/2017 at 9 AM CDT. I'll be in the studio with Ralph & Shelia Green, the dynamic hosts of The Marriage Talk Show on the Fishbowl Radio Network (in the RED STREAM). Our goal is to deliver financial empowerment to every marriage and every listener while embracing Christian biblical principles.

We will be discussing the important topic of retirement savings accounts - 401k, 403b, 457b and IRAs.

While these accounts give us the best chance at securing our financial future when we walk away from the workforce, they introduce many new terms and concepts that can be somewhat confusing. Let's talk about it! You will be more empowered in your retirement savings knowledge at the end of the 2-hour show - guaranteed!

Get a free resource guide of 10 Must-Know Retirement Savings Terms. Have it handy when you tune in. We will do a deep-dive of all 10 of these 10 concepts!

Join the show live --> http://fbrn.us

Listen to the replay --> http://fbrn.us/shows/the-marriage-talk-show

12 May 2017

10 Must-Know Retirement Savings Terms!

Posted in Savings

10 must-know retirement savings terms

Do you have a retirement savings account? Got a 401k or a 403b plan? What about a 457b plan, a Roth or traditional IRA?

All of these plans are created specifically to enable us to set aside money for our retirement while enjoying beneficial tax strategies. If you don't have a retirement savings plan I'd like to invite you to get in the game. You can't beat the results that are possible when you purposely set aside tax deferred funds for a time in the future while investing those funds to increase your returns. More about this to come!

To invest your retirement funds effectively, you will need to understand a few things about the options available to you in your savings plan. To get you started, I've created the Money reVerse Resource Guide - 10 Must-Know Retirement Savings Terms.

The Money reVerse 10 Must-Know Retirement Savings Terms Resource Guide is free when you subscribe to the Money reVerse mailing list. Click here to subscribe and get the Resource Guide now!

04 May 2017

It's Our National Day of Prayer!

Posted in Spiritual

National Day of Prayer

Praying together as a nation

Since being signed into law in 1952 by President Harry S. Truman, the United States has observed the first Thursday in May as our National Day of Prayer. It is on this day that Christian belivers that are also citizens and residents of our great nation come together and stand as one to petition our God on behalf of our nation. This is such an honor!

Coming from the bible book of Daniel Chapter 9 Verse 19, we should pray and agree on this theme:

For Your Great Name's Sake!
Hear us...
Forgive us...
Heal us!

Take time from your busy day to read and meditate on the full scripture in the bible book of Daniel and stand in agreement as we pray for the Lord to hear us, forgive us and heal us. Scripture confirms that fervent prayers avail much. Coming together in prayer as a nation will be powerful and life changing. I believe that!

Thank you for joining me in recognizing our National Day of Prayer.

Carolyn

07 April 2017

JOIN ME! I'M APPEARING ON THE MARRIAGE TALK SHOW!

Posted in Financial Literacy

Join Money reVerse on The Marriage Talk Show

JOIN ME! I'M APPEARING ON THE MARRIAGE TALK SHOW!

Saturday 4/8/2017 at 9 AM Central. Fishbowl Radio Network in the Red Stream.

It's financial literacy month and I'll be in the studio with Ralph & Shelia Green, hosts of The Marriage Talk Show. Our goal is to deliver financial empowerment to every marriage and every listner! We'll start with these money topics:

- Learn about 15 companies (in addition to the 3 major credit bureaus) that are collecting financial information on you and how you can get the reports to see your information - Free!

- Got a 401k, 403b or 457b plan? I'll detail 10 retirement savings terms that everyone should know.

- Are you stock market literate? Let's discuss why you should be and tell you about a no-cost stock market literacy class that you can take from Money reVerse.

Christian biblical principles will be the center of our conversations. You don't want to miss this. Tune in, listen in and call in to comment and get your marriage and financial questions answered.

Happy National Financial Literacy Month!

Carolyn

02 April 2017

What's Your Savings Ratio?

Posted in Savings

Whats your savings ratio?

Your savings ratio or savings rate shows how much of your household income is redirected to savings. According the the US Bureau of Economic Analysis (BEA), April 2017 indicators report our US personal savings ratio at 5.60%. While this is slightly higher than in January 2017, we are still in a 5 year downward savings trend as also reported by the BEA.

How much of your income are you saving today? It's a simple calculation. Here's the formula:

Your Annual Savings / Your Annual Income

Example: Annual savings = $3,000 / Annual Income = $40,000 = 7.5% Savings Ratio

Here's a few tips to get the most accuracy:

  • Use your gross income as a base. This gives you a true picture of your savings rate taking your true household income as a base.

  • Include all income. Have a part-time job? Realized portfolio income? Income from sales of property or pension distributions. Include it all as income!

  • Include all of your savings. Retirement savings from your paycheck, automated bank transfers to savings accounts, what you're dropping in your change jar. Everything counts!

I recommend that we strive to save at least 10% of our household income. During different seasons of life this savings amount should appropriately change to fit the situation. When going through a season of serious famiy illnesses, I reduced my savings amount and spent the income on travel and family support expenses instead of creating debt. When that season lifted, I resumed my savings routine. I also recomend that you increase your savings rate as you age. My rationale here is that as you mature your earning power increases and you're eliminating debt. This makes for a smoother transition as you prepare for retirement.

Know your savings ratio and make sure that you're saving as needed. It's a crucial factor to a healthy financial life and future!

02 April 2017

Need a financial promotion? Get there faster by doing this one thing!

Posted in Savings

Need a financial promotion? It starts with savings!

Savings types: emergency, appointed and retirement

Financial Elevation... Everything starts with savings.

It is difficult to progress to the next level in your finances without savings.

Need to get out of debt?
You should start with savings!

Have a goal of buying a house?
You should start with savings!

Ready to invest?
You should start with savings!

Lend an E. A. R. to your savings. Emergency, Appointed and Retirement savings.
I talk about this a lot.

Read more about this here. There's audio so read with your eyes or read with your ears!

Are you saving money on a regular basis?

30 January 2017

4 Reasons Why Every Christian Should Have Financial Goals

Posted in Spending Plan

Why every Christian should have financial goals

Over the years I’ve found that many of us vow to make changes in our financial habits and practices at the beginning of each new year. Because we vow to also make other changes like eating healthier and losing weight, focusing on the money often takes place after the first 30 days of the new year has started if at all. After all, you must restock the fridge with those healthy foods, and get those new running shoes right?

I take the process of creating financial goals and plans as a serious matter and I want you to do the same. As Christians, we serve a God that is owner and ruler of all things and he requires us to be faithful in the possessions that He has entrusted to us. The best way to get started in managing money following Christian biblical principles is to set financial goals.

Here’s four reasons why every Christian should have financial goals

1. We should be purposeful with money entrusted to us.

We are created for a purpose. We should operate with that purpose in mind at all times. Setting financial goals creates the framework that will govern the way that we handle money and money matters.

2. We want to avoid money “drift”.

A drift is a slow gradual movement or change from one place to another. If you’ve ever not remembered what was done with a sum of money you’ve received, you’ve experienced money drift. Sound financial goals gives you the reason to not let your feelings control what you do with money.

3. Financial goals help us to do our part.

God as promised us that he will supply all of our needs according to His riches in Christ Jesus and that he will give us the desires of our hearts if we delight ourselves in Him. That’s his part. He also instructs us to do our part. With money, being found as a faithful manager is a requirement. Adopting financial goals helps us to do our part better!

4. We want to align our actions His word.

The plans of the diligent lead surely to plenty, But those of everyone who is hasty, surely to poverty. Proverbs 21:5 NKJV

Having financial goals motivates us to develop a financial plan. We’re diligent when we continually pursue what we’re seeking. Scripture in the bible book of Proverbs confirms that the plan of the diligent surely lead to plenty. Aligning to this word (and many others that encourage us to manage money faithfully) is a sure way to financial promotion.

Let’s set clear and achievable financial goals that align with God’s words. Need help with this? Stay tuned and I’ll show you how!

22 November 2016

The New Overtime Pay Rule Explained Simply

Posted in Market News & Events

Money reVerse Overtime Pay Explained Simply

Overtime pay is defined by the US Department of Labor (DOL) as being one and one-half times the current regular hourly pay for an employee.

Effective December 1, 2016 there are new rules for how eligibility for overtime pay is determined for US employees as announced in May 2016 by the US DOL.

Before explaining what the changes are, let me create a scenario that will help to bring the effects of the ruling to life.

Meet Jake...

Meet Jake, a husband and father. Jake is employed by XYZ LLC as a carpenter and furniture delivery supervisor. Jake often works 50 hours a week to complete his required building and supervisory duties. Because Jake is considered a part of the management team, he is not eligible for overtime per XYZ HR guidelines. Jake’s salary is $32,100 annually. No matter how many hours Jake works, his company is not obligated to extend overtime pay to him.

Until December 1, 2016 the annual earnings threshold for the overtime pay mandate is $23,660. What this means is that anyone that earns below $23,660 annually is required to be compensated with overtime pay regardless of their positon or title. Earning above this threshold takes an individual out of the mandated overtime pay as noted by the Department of Labor. It is also common for employees that are in managerial, administrative or professional roles to also be exempt or ineligible for overtime pay. Some employers have policies to also extend overtime pay to employees in these groups even though it is not mandated by the DOL.

The New Overtime Pay Rules

The new Department of Labor overtime pay rules will raise the overtime annual salary eligibility from $23,660 to $47,476. Under this new ruling that goes in effect December 1, 2016 Jake will be eligible for overtime pay (one plus one-half times regular pay) for any hours over 40 in one week. Jake becomes eligible for overtime since his annual salary is below the new $47,476 threshold. Jake and others like him will see additional money in their paycheck if they work beyond 40 hours in a single work week going forward.

There are employers that are increasing the salary base for some employees to exceed the $47,476 annual base so that the overtime pay exemption remains. Not a bad thing for employees that meet this criteria! In multiple ways, this ruling creates a potential for an increase to the household income for many US workers.

Three key points of the new Department of Labor Overtime Pay rules:

- Employees earning less than $47,476/year are eligible for overtime pay for work contributed beyond 40 hours in a single workweek. Overtime pay is equal to one and one-half times the current regular pay. The earnings threshold for this eligibility before this 2016 ruling is $23,660/year.

- The effective date for this change is December 1, 2016.

- The earnings threshold for overtime pay eligibility will increase automatically every three years. The next increase is planned for the year 2020.

Overtime Pay Oppositions

There have been oppositions raised to this overtime pay rule change by 21 of our 50 states. These states are suing the Obama administration for overstepping their bounds by imposing fiscal mandates at the state level that could affect their budgets. Those states are Alabama, Arizona, Arkansas, Georgia, Indiana Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Mississippi, Nebraska, Nevada, New Mexico, Ohio, Oklahoma, South Carolina, Texas, Utah and Wisconsin. I’m watching these activities and will report to you what comes of these efforts. I will also share more of my personal thouhts and views on this subject.

If you or someone that you know fits the profile of one that may be eligible for overtime pay as a result of this ruling, instruct them to seek information on this new DOL ruling and get information from their employer as needed. Direct any questions that you may have on the details of the ruling to me here as comments to this post. I'm here to assist!

Stay in the know!!

17 November 2016

Post Election Stock Market Focus - Expect Market Volatility!

Posted in Market News & Events

Money reVerse Post Election Market Focus

When our financial markets go through periods of times when the trading prices of stocks are going up and down unpredictably, it is certain that a large number of individuals and institutions are buying and selling stocks in large volumes. If this goes on for many days (as it often does) we see the result of this high volume trading in the “up & down” prices of individual stocks and the overall financial market.

Volatility is defined as being likely to change in a very sudden or extreme way. Volatile markets are likely to have sharper up and down swings than what is considered normal.

I personally look at the closing numbers of the Dow, S&P and the NASDAQ to detect the effect of market swings. I consider a DOW closing price of at least 300 points higher or lower than the previous day as a pretty volatile day. Anything less than a 100 point DOW closing (higher or lower) for me is considered a calm or sideways market day. The market volatility is measured and reported by the CBOE Volatility Index or the VIX.

There are many theories and technical details associated with market volatility including beta, sigma and standard deviation. For our conversation here, these concepts are not important. What is important to know is that there is a single cause for volatility. That reason is uncertainty.

Money reVerse Volatility Coaster As we do after each presidential election, expect this. Don’t be alarmed or think that we’re in for an immediate financial apocalypse. The uncertainty that results from political party changes in the office of the US president always introduces a fair measure of market volatility. It is important to be aware of what’s going on and manage your investments in a way that minimizes your losses and harmonizes with your risk tolerance. Again, prepare for market volatility and be prepared to make the adjustments that you need to be able to rest well during times of high volatility.

Again, the sharp market swings are caused by investor uncertainty. Market volatility rarely means that things are in an unstoppable upward trend or that the stock market is crashing. Keep your head, be aware of what’s going on and work your plan!

If you don't have a plan for investing during volatile times put this on your "to-do" list. If you are needing to expand your knowledge in understanding and navigating the financial markets it is time to consider taking a class and/or hiring a financial professional for assistance. Because the Money reVerse vision is for financial self-empowerment you can find stock market investing as a part of Money reVerse University. Sign up for the Money reVerse 21 Days to Stock Market Investing course today!

View Previous Post in this Series

View Previous Post in this Series

10 November 2016

Money reVerse University is Open for Enrollment!

Posted in Social Media, Investing

Enroll Now for Financial Education and Empowerment!

Money reVerse University

The Money reVerse vision is that all Christians are outstanding financial mangers, debt free, cheerful givers, financially credible, property owners, savers, investors, high-wage earners, family supporters and legacy creators.

Money reVerse University provides you the wisdom, knowledge and coaching to make this vision a reality in your life!

Enroll in Money reVerse University now for biblically based financial education and enablement! Once you're enrolled you'll get announcements of the new classes first!

There is no cost to enroll in Money reVerse University. Once enrolled, you will have the opportunity to enroll in specific classes that have a tuition. There are more classes coming in the near future including some that are tuition free!

Enroll today. I'll see you there!

Carolyn

26 October 2016

What is your Money Personality?

Posted in Events / Engagements

Your Money Personality / Money Persona defines your beliefs and behaviors associated with money that strongly influence your approach to handling your personal finances. This is an important topic for each of us as emotional triggers can have a significant influence on our money handling decision making process.

I will detail 9 possible money personalities that could be in play in your head and heart and directly affect your financial life. Biblical financial truths and instructions will also be outlined as a path for Christians to maintain alignment with God’s word in the area of money and possessions. A take-way self-assessment and resource guide will better empower you to make this learning experience one that lasts beyond the 1-hour teaching session.

Octane Leadership Development Conference Speaker

This is one of the classes that I will teach at the 2016 Octane Leadership Development Conference.

I’m joining a team of outstanding leaders and teachers and we’re excited to be your leadership coaching team! Each attendee will receive over 11 hours of rich and relevant leadership training with an emphasis on post-conference implementation. All of this is only $125!

Get registered! Registration closes November 1st!

Carolyn

25 October 2016

Wanna know about a poverty mindset? Join the discussion on The Marriage Talk Show!

Posted in Events / Engagements

When you look at poverty from the financial vantage point, it is defined as having an insufficient amount.

Poverty is more about your state of mind instead of being about how much money you have. Ever heard of someone that won or inherited millions only to end up broke in a year or two? What about a child that grew up in very poor conditions and received college financial assistance which helped them to earn a career that changed the economic outcome for themselves and their children? Again, poverty is more about your state of mind and less about the amount of money you have.

Whether it’s a situation of being unable to obtain the minimum amount of resources to properly sustain life or meet one’s self-defined standard of living, there are predictable beliefs, thought patterns and actions associated with individuals that live in a real or perceived state of poverty.

Money reVerse Marriage Talk Show Guest

I’m joining Ralph and Shelia Green as an in-studio guest on The Marriage Talk Show on Saturday October 29th 2016 and the poverty mindset will be the focus of our discussion. We’ll identify the characteristics of a poverty mindset and explain how this can lead to self-destructive financial behaviors. We’ll also detail biblical truths on the topic of poverty and the poor and share practical wisdom on how we all can ensure that we align to God’s word in this crucial area. You don’t want to miss this - it's gonna be rich!

I’d love to have you join us by tuning in to The Marriage Talk Show Saturday October 29th from 9 AM – 11 AM on the Fishbowl Radio Network. Call in and join the discussion at 214-717-4678. We’d love to hear your thoughts or have you say hi to us on the air!

The Marriage Talk Show is in the “Red” stream on the Fishbowl Radio Network. Click here to join us on Saturday October 29, 2016 at 9 AM CST.

Talk to you then!

Carolyn

23 October 2016

Stock Market Focus: After the Election Watch These 4 Key Things!

Posted in Market News & Events

What is the market going to do after the election?

This is the question of which everyone wants the answer and the answer is nowhere to be found. As we know with all things in our financial markets, there are many opinions but of course when we’re talking about future events, all opinions are speculative at best.

From what I’ve read of the presidential candidates, there are four key areas of our financial markets that will be affected as a result of our upcoming election. They are international business relations, health care, taxes and consumer discretionary (optional) spending. Here’s a few points to consider on these four areas.

With a republican presidential win, we should keep our eyes on the implementation of international agenda items from Trump. If he honors his promises to reform international trade by withdrawing from the newly signed Trans-Pacific Partnership, renegotiating NAFTA (North American Free Trade Agreement) and other seemingly impactful measures, this is likely to cause a negative impact to our international trade relationships. In this case it will be noticed mainy by large cap US companies since they are more likely than mid and small cap companies to have multi-national operations.

Based on campaign promises from both Hillary Clinton and Donald Trump, there will be adjustments of some kind to the Affordable Care Act. As with the 2010 implementation of this health care reform, many health care business including insurance providers, pharmaceutical and medical device companies will be impacted by any changes that are made to this health care law. The implementation of this act caused an increase in the healthcare market sector. The nature of the next reform changes will dictate the overall effect of the stocks that comprise this market sector.

Taxes

Both candidates are communicating somewhat vague plans about what they are proposing to do about taxes. One thing for sure is that tax reform is one of the subjects on the table as it is for every presidential election. If the wealthy are taxed more, consumer spending could decrease. In opposition to this, a tax cut could increase consumer spending. In a related conversation, higher minimum wages could eat into the profits of restaurants and retailers whose workforce is likely to be made-up of workers at this earning level.

Spending for indulgence and non-essential extras will be impacted if there is less money brought into the household or if there are price increases on necessities. This is the reason to be aware of potential tax and interest rate changes that come as a new US president takes office.

Again, no one truly knows how our financial markets will react to our 2016 presidential election. Watching the key areas discussed here will keep you on your toes and having a better understanding of post-election changes that we see in our US financial markets.

Stay tuned!



View Previous Post in this Series


View Next Post in this Series

View Next Post in this Series

17 October 2016

Free FICO Credit Scores from Discover - Even if you don't have their credit card!

Posted in Credit Management

At the suggestion of the Consumer Financial Protection Bureau, many major credit card issuers have made FICO scores available to their customers at no charge. This has been a great thing for us as consumers as FICO is still by far the credit score that is most used by lenders.

In May of this year Discover did a new and even better thing. They made free FICO credit scores available to everyone – even those that do not carry a Discover credit card! These free scores are available via CreditScorecard.com. This offering helps to create a level playing field for all consumers in the area of access to free FICO credit scores.

To get access to your free FICO score, you can simply setup an account at CreditScorecard.com. You will be asked to provide personal information including your social security number while also answering individualized questions that will help in validating your identity. You will then have access to your 3-digit FICO credit score along with helpful information about how your score ranks and FICO score improvement tips.

If you don’t have free access to your FICO credit score through a card issuer, sign-up with CreditScorecard.com today. Answer the call to be above only and not beneath in your finances by being financially aware and financially credible.

Thanks!

Carolyn
[12 3 4 5  >>  
-