You may be concerned that time is running short, but there is optimism that a position can still be landed. It may be a slightly easier task in 2013 than it has been in the recent few years.  According to a survey by Internships.com, over 50% of companies interviewed planned to hire more interns in 2013 than in 2012. Internships.com was launched in March 2010.  According to Stuart Lander, chief marketing officer of the company, the demand for internships by both students and employers has grown exponentially year by year.

While many of the larger corporations recruit for summer internship programs as early as the fall semester, smaller businesses and organizations often don’t start to hire until the spring; now is a good time to launch a search if you have not already done so.

Here are several tips:

USE THE COLLEGE CAREER CENTER

Although you can search for opportunities through Web-based job posting sites, it is also a prudent idea to use the resources available at your school’s career center. According to a 2012-2013 report from the College Employment Research Institute at Michigan State University, over 60% of companies prefer to find potential interns through campus career centers.

Some colleges and universities have seen a rise in the number of internship postings.  For example at a career fair this spring at Loyola University Chicago, internship positions represented 36 percent of the available opportunities, up from 31% last year.

REACH OUT TO EMPLOYERS

Can’t find the internship that fits you?  Try reaching out to recruiters within an industry or organization that interests you. In many cases, summer internships are not widely advertised.  By reaching out you may learn of a position that isn’t posted online or at a career fair.

BE OPEN TO ACCEPTING AN UNPAID INTERSHIP POSITION

The increasing number of unpaid internships has certainly been a big topic of conversation over the past few years.  As a general rule, the internship will add value, whether paid or unpaid if the candidate is working with a mentor in a specific profession. The type of experience gained should also be a consideration.

The primary goal of the internship experience is to learn, and while doing so, develop interesting and meaningful experiences to discuss at interviews and to add to your resume.

HALEY AND JACK…ARE YOU LISTENING???

This is the time of year you will hear much about IRAs (Individual Retirement Accounts) This is because an IRA contribution is the last tax deduction you can still create for your 2012 tax return to make a pretax IRA contribution (provided that you not eligible for another form of retirement saving, ect 401k defined benefit plan, ect) you have until the date your return is due to make an IRA contribution or to add more money to an IRA contribution (typically April 15, 2013) You can contribute up to the 2012 limit of $5,000 (or $6,000 if you are age 50 or older). That annual $5,000 contribution can add up. Over a 30 year period, earnings just based on the stock market’s historic average annual return of 10% and dividends reinvested could result in a retirement fund of over $900,000…a respectable little nest egg

There is also an estate planning silver lining to establishing an IRA a Stretch IRA, which is simply a transfer method that allows you the potential to “stretch” your IRA over future generations. Generally if you are fortunate enough to inherit someone elses IRA, you will be able to take minimum distributions each year from the IRA account based on YOUR life expectancy figure –regardless of your age. If you currently have an IRA or are eligible to contribute additional funds to an IRA one key component is that you properly designate your intended beneficiary.

As many of you are aware I have lost both of my parents with in the last 2 years.  By establishing the proper beneficiaries prior to their death we have been able to defer the amount of Required Minimum Distributions (RMDs), thus deferred ordinary income taxes.

As a general example:  Traditional IRA worth $500,000 on 12/31/2009 Owner: Charles (age 85 deceased 12/1/2009); *IRA Inherited by: a) Spouse: Marilyn (Age 81 in 2010)- Marilyn will establish  a “rollover IRA” and have to take an RMD of $20,234 in year 2010 b) Son: Chuck (Age 55 in 2010)- Chuck will establish an “inherited IRA” and have to take an RMD of $16,892 in year 2010 c) Granddaughter: Kristen (Age 28 in 2010)- Kristen will establish an “inherited IRA”and have to take an RMD of $9,042 in year 2010 Each beneficiary will have to continue to take the RMD each year thereafter based on the new life expectancy figure which must be computed each year from the IRS Publication 590 (IRA’s) from the Appendix C- Life Expectancy Tables section.

WHAT ACTION SHOULD TAKE? Contact every custodian of every IRA, 40l(k), 403(b), or other retirement plan, as well as every insurance policy, and ask them to send you — on their letterhead — the name of the beneficiary as currently listed on the plan. Determine whether the beneficiaries named are still the beneficiaries you intend to inherit any residual retirement plan. Then make two copies, giving one to your estate-planning attorney, one to your financial adviser, and filing the original for yourself, along with your copy of your will or estate plan.

WHO SHOULD BE THE BENEFICIARY?

The beneficiary of your retirement plan should be a living person —generaly not a trust and not your “estate.” Beneficiaries who are “persons” can stretch out their withdrawals from an IRA, allowing the money to continue to grow on a tax-deferred basis. Since an estate does not have a life expectancy, you don’t want to simply leave your retirement plan to your estate to be distributed, missing out on the chance to keep it growing.

In summary an IRA is certainly one of the best opportunities to defer taxes and grow your money.  If you take this opportunity, you should also ensure that your heirs retain all of the benefits they can.

ADDITIONAL QUESTIONS??? DO NOT HESITATE TO CONTACT ANN OR BRAD.

Cozy up to bedding deals

For the past two years, deals have been strong in September for bedding, towels, and more. Keep an eye out for discounted home items from the likes of JCPenney, Macy’s, Sears, Designer Living, and Kohl’s. In particular, look for stacking coupons at Kohl’s and a mattress sale at Sears that beats its summer-month offerings. (Keep in mind, however, that last year we saw excellent discounts on mattresses around Black Friday and Cyber Monday, so you’ll have another opportunity to cash in on strong deals later in the year too.)

Tangled up in blue jeans

We’ve made it through the height of back-to-school shopping season, which means you can start taking advantage of clearance sales for the student staple of denim. While you’ll see modest discounts this month that take about 40 percent off, keep in mind that these sales will continue into October, likely growing stronger. Come November, many jean specialists like Levi’s could offer their best coupon of the year around Black Friday. Now is a good time to start looking at discounted jeans styles for a wider selection, but if you’re not particular, next month will see steeper cuts.

Get your caffeine fix for free

Are you a devout coffee drinker? Then make sure to mark Sept. 29 in your calendar, when several food chains will offer a free cup o’ joe in honor of National Coffee Day. Last year, Krispy Kreme, Waffle House, 7-Eleven, and Caribou Coffee all offered a special promotion to celebrate, and it’s possible that other chains and local cafes will do the same.

New price points for the iPhone

Supposedly, the newest Apple iPhone will be announced on Sept. 12, which means it’s very likely that the company will slice prices on its older models. If the smartphone follows a similar pattern as the last update, then the iPhone 4S could drop to $99, with the iPhone 4 potentially sticking around as an even more affordable model – a need that the 3GS will likely leave open, as it’s expected to be discontinued.

A slew of iPhone accessories, new and old

Supposedly, the iPhone 5 will feature a completely new dock connector, which means all existing accessories that use this port will become outdated overnight. Old accessories will see aggressive deals as stores try to clear their shelves for brand-new, full-price replacements. If you’re upgrading to the iPhone 5, consider at least waiting a few months to add to your collection of dock accessories so that you can avoid paying retail price.

Rock-bottom airfare rates

The cheapest flight deal we saw throughout all of last year came in late September, when both Vision Airlines and Spirit offered one-way fares for a whopping $1. Not a fan of those budget airlines? JetBlue also offered one of its best sales in September, dropping rates to just $29 each way. (However, we did see the airline hit that price at various other times in the year.) Of course, in order to take advantage of these rock-bottom prices, you have to be a lucky or flexible flier to make use of the restricted routes and times.

Keep an eye on hot sunglasses sales

If you managed to make it through the summer without buying a new pair of sunglasses, you’re about to be rewarded. According to our deals last year, the best storewide sales popped up in September, as well as November and December. In particular this month, look to Oakley Vault, Sunglass Hut, REI, 6pm.com, and Endless.com for discounted styles. Last year, Oakley Vault’s sale was the best it offered all year.

Patio furniture deals are sitting pretty

Finally, it’s a great month to buy patio furniture! September will see an increase in the sheer number of sales and deals that discount the seasonal outdoor items, while October will see an uptick in the level of Editors’ Choice caliber prices. But since several patio sets and gardening items from Sears, Amazon, and other merchants hit their lowest prices in October, as they were available for significantly less than we had seen them at over the summer, what’s another few weeks of waiting?

Wait and see with tablets

We’re on a path toward a very interesting, competitive, budget-friendly tablet market in the coming weeks and months, and it would benefit the consumer to hold off on purchases for the moment – increased competition could likely yield deals that either cut prices or bundle devices with useful media credits or gift cards. Amazon is rumored to be debuting the Kindle Fire 2 in a few days, resulting in a new lower price on the original Kindle, while Apple might announce an “iPad mini” a week later.

Big-screen 3D HDTVs show some promise

Fall will soon be upon us and if you can refrain from any HDTV purchases over the next two months, you’re bound to see the year’s best HDTV deals come November. However, if you’re in dire need of a new HDTV, you’ll want to look at name-brand 55-inch 3D LCD HDTVs, as those are seeing the most action these days in terms of deals.

Over the summer, 55-inch 3D HDTVs dipped under the $1,000 mark, a price we hadn’t seen since Black Friday 2011. In early August, prices hit an all-time low as we saw the 2012 LG 55LM7600 hit $949. While we still recommend waiting for the holidays, shoppers who can’t wait till Black Friday should look at 55-inch 3D LCD HDTVs under the $1,000 mark

We hope these tips work for you!  As always please contact Ann or Brad with additional questions.

1. Start with a net price calculator

The Department of Education website http://collegecost.ed.gov/netpricecenter.aspx has a new tool to help you find a ballpark estimate for the specific schools for which you are interested. Put in the required information and get the estimated net price: the estimated cost of attendance (tuition, fees, books and supplies, room and board and other related expenses) minus estimated grant and scholarship aid. Every college has been required to offer this info since October 2011.

2. Apply for FAFSA

FAFSA stands for “Free Application for Federal Student Aid.” Students should fill it out in the spring before graduating high school and every year they’re enrolled – even if they don’t think they’ll qualify for aid This standardized form is crucial because it tells the school’s financial aid office you’re interested in whatever opportunities are available. Nearly every scholarship, work-study, and other type of student aid available starts with the FAFSA form. You are able to fill it out online at www.fafsa.ed.gov.

3. Hunt for scholarships

Filling out the FAFSA can make you eligible for a bounty of aid, and many university financial aid departments do a good job of pointing students toward opportunities. But don’t rely on them alone.

Find and apply to everything you can, because there’s more financial aid out there than you might think The College Board Scholarship Board (https://bigfuture.collegeboard.org/pay-for-college/scholarships-grants) alone claims to check “scholarships, other financial aid and internships from more than 2,200 programs, totaling nearly $6 billion.”

And you don’t have to have great grades or test scores to find help. There are scholarships based on everything from your height to the community in which you live to a passion for the science behind wine.

4. Look at alternative ways to get or fast-track your education

The traditional four-year route is expensive – especially at a private school. But there are ways to cut corners without cutting down on your education.

For instance, look into accelerated programs that push you harder but take three years instead of four. If you’re going for a higher degree, check out programs that combine bachelor’s and master’s tracks, or master’s and doctoral work.

Consider starting at a community college (College of DuPage is one of the best in the United States) and getting general education requirements out of the way at a cheaper price, then transferring to a university. You need to ensure the credits will transfer with you: The College Board’s Match Maker https://bigfuture.collegeboard.org/college-search can help you find schools that have agreements to do so.

There are also ways to get credit without taking college classes. High school Advanced Placement (AP) courses can give you a head start, and while you have to pass an $87 exam for credit, that’s far cheaper and quicker than retaking the class in college. Some high schools also partner with nearby colleges to offer dual-enrollment programs – these meet both high school and college requirements at the same time.

5. Take loans as a last resort

If you can’t cover the costs after aid, there’s another option: student loans. As the name implies, you have to pay these back, and starting life with a huge debt burden is no fun. So keep them to a minimum – one rule of thumb says no more than twice the salary an entry-level worker makes for your field of study.

Seek government-backed loans that subsidize the interest charged and offer more flexible repayment terms before turning to private loans.

Bottom line? Don’t let the headlines about spiraling college costs convince you a higher education is unattainable. If you’re willing to do the legwork, there are options available for you.

Men’s health tends to take a back seat in our society. But men are just like women – when they put off doctor visits and health screenings, their whole families can suffer. That can mean preventable health care costs, chronic health problems, and even death. So in honor of Men’s Health Month which is June we’ve compiled five life- and money-saving health screenings for you or the men in your life…

1. Lipid screening

Heart Disease…One of the best ways to prevent it is to monitor your lipid profile, a blood test that measures your total cholesterol, LDL (bad) cholesterol, HDL (good) cholesterol, and triglycerides. The worst part of the test? You have to fast the night before.

The American Heart Association recommends that adults over age 20 have their lipids tested once every five years. Adults over age 45 or with certain heart disease risk factors should be tested more often. If you don’t know when you were last tested, simply call your doctor and ask.

2. Prostate cancer screening

This screening can involve a blood test that measures the level of prostate-specific antigens (PSA). The American Society recommends that men talk to their doctor so they can make an informed decision starting at age 50, or if they have certain risk factors, age 45.

3. Colorectal cancer screening

“Colrectal cancer trails only lung cancer and prostate cancer when it comes to killing American men. The good news is that this disease is frequently curable when discovered in its earliest stages. “The American Cancer Society suggests that adults be screened for colorectal cancer every five or 10 years starting at age 50 – or earlier if they have certain risk factors.

4. Hypertension (high blood pressure) screening

The don’t call it the silent killer for nothing. Untreated high blood pressure can lead to heart attacks and stroke – the fourth-leading cause of death.

But if detected early, hypertension is easily controlled with diet, exercise, or medicane.  It is recommend that adults over age 18 check their blood pressure regularly. If you don’t see your doctor regularly, find a local pharmacy with a reliable, free blood-pressure machine and keep a log. Just make sure to consult your doctor if your blood pressure tops 120/80 –

5. Skin cancer screening

How often you should get screened depends on factors like how much time you spend outside and whether you have a history of skin cancer. But if you’ve never been screened, it’s time.See a board-certified dermatologist or check whether the American Academy of Dermatology offers its  free skin cancer screenings in your  area.

We hope you all had a fantastic Fathers’s Day and many more to to come!

1.     Get negatives erased from your credit history

While you should always keep an eye on your credit score, the time to start getting obsessive about it is about a year before you intend to borrow. That means finding your actual score by going to myfico.com and paying for a sneak peek.

2.     Get your reports. 

Since your score is derived from your credit history, start by going to annualcreditreport.com and getting a free copy. Experian, Equifax, and TransUnion have to supply one free copy per year.

3.     Check for accuracy.

Make sure your name, present and past addresses, credit inquiries, Social Security number, and account information (balance, payment dates, status) are all correct. If something isn’t right, it should be disputed online, or by sending the agency a letter.

4.     Deal with the negatives. There are basically three ways to get negative marks removed from your credit history:

a.     Let them expire: late pays and collections should disappear after seven years, bankruptcies after 10.

b.    Challenge the negative mark by treating it like a mistake and disputing it with the credit reporting agency. This works if the agency is unable to verify the information with the creditor. If they can’t because the creditor doesn’t respond or is out of business, the negative has to be removed.

c.     Finally – write the creditor and ask them to remove it.

Do you have additional questions?  Please do not hesitate to contact Brad or Ann.  We look forward to working with you!

5 Things to Consider When Choosing A College

With college application season fast approaching you have certainly been given advice with respect on how to decide where to go and what your child should pursue. Some of the advice isn’t so obvious.

• Kiplinger magazine has released its Best Values List, measuring public universities by how quickly they get students out into the real world and how much financial help they provide – most importantly how much debt the average student will be burdened with at graduation.
• Historically it’s no secret that a communication degree would be worth much less monetarily than a friends’ engineering degree, but there is more to take into consideration.  For instance, consider unemployment rates. Architect majors, for instance, might earn more than social work majors. But unemployment among the former is running at 13.9 percent compared to the latter’s 7.3 percent.

So what can we learn from these mixed messages? Well, there are many ways to save for college that might not seem to make sense at first…

1. Smaller colleges don’t always = better

First place in Kiplinger’s Best Value List went to University of North Carolina Chapel Hill. With approximately 18,500 undergraduates and a 76 percent graduation rate in 4 years, UNC at Chapel Hill gives almost $11,000 of financial aid (if you qualify) to in-state students. Most students walk out owing a little more than $16,000.  Second place is the surprising one; college football powerhouse University of Florida. Home to more than 50,000 students, UF’s total tuition of $15,526 – $37,803 for out-of-state – is less than the national average. And student debt at graduation is almost the same as UNC at Chapel Hill’s, at $16,013.

 2. Competitive colleges don’t always = expensive

In third and fourth place are two elite Virginia universities. While both of them have higher price tags than UNC and UF, they also provide more financial aid – which means their students don’t owe much more than the first and second placers’ students.

• University of Virginia has almost 16,000 undergraduate students, and its total tuition is $21,626 ($45,948 out-of-state). But its graduates only owe an average of $19,384 – just $3,000 more than at UF.
• The College of William and Mary has a mere 5,898 undergraduates, and its student-faculty ratio is an amazing 12:1. Total tuition is $23,054 ($45,331 out-of-state), but the graduate’s average debt is a little more than $21,000 – still less than the annual tuition price tag. Eighty two percent of their students graduate in four years. Famous alums include Thomas Jefferson and former Secretary of Defense Robert Gates.

3. On the flip side, less expensive colleges don’t necessarily = good colleges 

The cheapest school in the top 10 is another in Florida; New College of Florida. With 801 undergraduates, there are just 10 students for every professor in the liberal arts college. Most students graduate with less than $12,000 in debt – half the national average – it didn’t rank higher because only 5 percent of its students graduate in four years, and it provides a lower variety of choices for majors.

4. A degree doesn’t = a job

It’s no surprise that the humanities scored highest in the category of unemployment, landing two of the top three spots, but who made first? Those architecture majors we mentioned earlier, with that 13.9 percent unemployed for recent college graduates. The top three major types compared by unemployment:

Architecture…

• Recent grad: 13.9 percent
• With experience: 9.2 percent
• Graduate degree: 7.7 percent

Arts…

• Recent grad: 11.1 percent
• With experience: 7.1 percent
• Graduate degree: 6.2 percent

Humanities and Liberal Arts…

• Recent grad: 9.4 percent
• With experience: 6.1 percent
• Graduate degree: 3.9 percent

5. Not all majors are created equally

Pre-med undergraduates make pennies, but their compensation changes dramatically once the medical degree is in hand. However even at the graduate level, the computer geeks beat those out for second place overall, leaving the engineers in first place. The top three major types compared by annual paychecks:

Engineering…

• Recent grad: $55,000
• With experience: $81,000
• Graduate degree: $100,000

Computers and Mathematics

• Recent grad: $46,000
• With experience: $76,000

Are you even more confused?  Please don’t hesitate to contact Brad or Ann! We are here to help you!

Have a great weekend!

Serious about getting financially fit in 2012?

Initially get rid of any hazy promises. Sit down and make a list about exactly what you want to achieve. Designate something you can do each month, starting with your intended spending habits in each month to get your budget and savings plan on track.

Here’s how you can start:

1. AUTOMATE

Setting up automatic savings is easy on most bank websites. Add auto bill pay, and you will take a big step toward avoiding late charges that run up costs unnecessarily. Making payments on time is also the single most important thing you can do to maintain a healthy credit score.

At least once a month, designate a day to go over your performance during the prior few weeks, and make any adjustments that are necessary.

2. CHECK CREDIT REPORTS

Everyone is entitled to one free credit report per year from each of the three major agencies, TransUnion, Equifax and Experian. The data in these reports is what’s used to determine your credit score, which in turn is what banks and credit card companies use to decide if they’ll lend to you and at what interest rate. You may find mistakes that could be hurting your score as well. These errors can be easily fixed and can dramatically adjust your credit score in your favor.

To take things one step further, you can visit www.myfico.com, which is offering a free credit score to those who sign up for a 10-day free trial of its credit monitoring service. After the 10 days, the service is $14.95 per month.

3. USE YOUR JOB BENEFITS

Are you aware of all the benefits offered through your health insurance? Log in to your insurance company, employer and, if you belong to a union, the union’s website benefits page to find out if you’re eligible for reimbursement or discounts on health club memberships or programs to help you with weight loss or quit smoking programs.

Likewise, many companies and unions offer extra benefits that are often overlooked, from Flexible Spending Accounts, to discounts on cell phone plans and computer purchases, reduced price travel and entertainment, pet insurance, college test preparation programs and even legal advice. Ask your human resources department or visit UnionPlus.org to learn how you can shave dollars off spending you’ll likely be doing anyway.

4. REBALANCE INVESTMENTS

Rebalancing involves adjusting the mix of stocks, bonds and alternative investments you hold to keep them appropriate for your stage of life and the amount of risk you’re willing to take. The first step of the process is setting the targets for what sort of mix you should have. Even if all you have is a 401(k) plan through work, it’s important to make sure the funds you picked when you first enrolled are the best choices for you at each stage of your life. Rebalancing often seems counterintuitive because it can involve selling holdings that are doing well and shifting that money to investments that have underperformed recently, but it’s important to have your investments properly allocated.

HAVE FURTHER QUESTIONS…PLEASE DO NOT HESITATE CONTACTING BRAD OR ANN!!! WE LOOK FORWARD TO ASSISTING YOU IN ANY WAY WE CAN.

1.   Be skeptical of cash requests.

This includes giving change on the street corner to individuals who say it’s for firefighters or veterans. Cash can be easily lost or stolen, and it does not provide accountability from the solicitor. Writing a check out to the full charity name – not the person collecting donations – is a better idea and will provide the donor with traceable documentation.

If you have any doubts, a little due diligence will help. If you’ve never heard of them, ask about their history or give them a call. Organizations that pop up overnight – after a natural disaster, for instance – can disappear as quickly.

2. Understand the mission.

Taking time to do a little research is better than asking questions on the spot. Indicate to the solicitor that you will mail the organization a check or donate online; they should be grateful for the support and should not pressure you to give immediately. The first thing to check out: mission or purpose statements. These sum up groups’ motivations and goals, and should be featured prominently on their websites or promotional materials. They might also be listed on a charity or business watchdog site. You can find a charity whose interests are aligned with yours. If you can’t find a mission statement, you should wonder how organized the group is, and how they make spending decisions.

3. Check their spending.

Rather than take charities at their word, you can look at how they actually spend. Either request an organization’s tax return (called Form 990) and locate it yourself.  You can also visit a charity watchdog site that collects and analyzes them. Several suggested sites include Charity Navigator and Charity Watch. These sites also feature reviews from donors, which may give more insight.

4. Verify tax status

Ensure the charity is a qualified charity.  Making sure you get a tax deduction for your donation is important, but as important is the charity is still recognized as a qualified charity by the IRS. Stacy said in our story losing tax-exempt status is a definite red flag and something you’d want explained. Sometimes good charities go bad – not necessarily in a scheming way, just through poor management. Either way, the government might take the group off its charity list. You can find the IRS list of organizations that lost 501(c) (3) charity online.