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Archive for March, 2011

balance, life, invest, john navin

Kailey and Julia at the pumpkin farm

It seems we all get “stuck” every so often.  Sometimes I think it is only me who has hit this ceiling of complexity or a glass roof I cannot shatter, but it happens to everyone.  Thumbing through a book I wrote a few years back, a story of life reminded me of the cycles of life…..and breaking through those ceilings!

You may have ceilings placed upon you that were never considered ceilings. But if you have gone through life and been stuck at a certain point, look closely at what is causing you to stay stuck. Someone once told me (and for the life of me I can’t remember who), you need to always be growing personally and spiritually. If not, God will put you in a spot to force you to grow. True for me… in looking back, I thought of an example of just that.

Ten years ago I found my family was not really growing as a unit. We were in a holding pattern so to speak, coasting. My youngest daughter was diagnosed 9 years ago with diabetes. A 4 year old diagnosed with diabetes… hard to take, SURE! Family togetherness, bonding, unity, seeing your daughter rise to the challenge, overcoming obstacles, great lesson and great wake up call. (She teaches me more everyday about winning and striving, than I ever could have received from any book I read. (You have examples in your life too, look for them.)

I also learned a valuable lesson from Tracy. I was somewhat crushed when I left the doctor and had the diagnosis, having grown up with a brother with diabetes, I knew the struggles that were to follow. She said to me “What are you going to do? We are going to deal with this, move on, and grow.” That we did.

We all have struggles and problems. Of course we do, we’re not dead. Work through them, build upon them, challenge your beliefs, raise your ceilings, and win!

How do you overcome your struggles?

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401k, balance, retirement, john navin

401k Changes are not as hard or scary as you may think

Do you really want to leave your 401k money with your old employer?  More than likely not.  But, a lot of people choose that route because they “don’t have to think about it then”.  If you are going to make some changes, here are a few things to remember.

What is a 401k Rollover?

The transfer of assets from an employer’s retirement plan when you leave your employer – whether retiring or changing jobs.

What are my Options?

  • Leave the assets in the employer’s plan (if the plan allows – this is not always a possibility) – This limits you to the rules and investment options in the former employer’s plan.
  • Withdraw the assets in cash – Because this distribution is considered taxable income, taking a distribution in cash usually has tax consequences, such as a withholding of 20% and a possible 10% penalty if you are younger than 59 ½.
  • Rollover to a new employer’s plan – subject to the rules and investment options of the new employers plan.
  • Open a Rollover IRA – You can move eligible assets directly from a retirement plan to a Rollover IRA. The advantages of Rollover IRAs include:
    • Preserving tax advantages – Eligible assets can continue to grow tax-deferred.
    • Potentially more investment choices – With a Rollover IRA you can invest in stocks, bonds, mutual funds, annuities and more.
    • Flexible beneficiary designations and stretch-out options for all beneficiaries through an inherited IRA account.
    • Easy access to you assets – You can withdraw money at any time from a Rollover IRA. Distributions will generally be subject to current taxes and a 10% penalty if they are younger than 59 ½ (unless an exception applies).

Take a few minutes and understand your options.  Most people I talk with would rather have their money invested in their own account, than have it stay with an old employer they may not particularly like.

Did you find the rollover process easy?

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