Stay and Play: Balancing Life, Work, and Family

Stay and Play: Balancing Life, Work, and Family

I am employed at a university with a fairly structured work schedule: a 9-5 job. My wife is a full-time graduate student, which amounts to basically a full-time job with zero pay. I also have a 20-month-old daughter, someone I love to be around and only wish I could be around more. In Illinois, where we live, the median cost of child care per child is $12,697 for the whole year, one of the highest in the country.

In our current situation, all this means that my annual income of $43,000—or $24,000 after taxes, health insurance, social security, retirement, etc.—must support rent, food, transportation, and, of course, child care. We live in the wealthiest county in the state, and so our extremely simple apartment costs $1000/month, leaving us with $12,000 to spend on food, transportation, and, of course, child care each year, or another $1000/month. Gratefully, our childcare costs are only $8000 a year. My gross income is too high to qualify for federal assistance, and so, what does any father do when trying to provide for his family? Get a second job.

I have a Master’s degree in teaching and so recently picked up teaching classes in the evenings at local community college. Monday, Tuesday, Wednesday, and Thursday from 7:00-9:50pm, I drive ten minutes to College of DuPage, the largest community college in the United States, and teach. Two semesters of teaching will give us enough to pay for childcare.

But, this all came to a head last week when my 20-month-old ran to our front door at 6:40 as I was leaving for class, and screamed, “Stay! Play!” It was an entirely harmless request—a very genuine appeal from a daughter to her dad. But, it was also harmful…to me, at least. Working 9am-9:50pm means that I don’t see my family, don’t get to spend time with my daughter, and hardly eat. All so that my wife and daughter go to school. I realize that this is only a short season in life where we’re in this situation, I know there are other solutions out there, and I know other families have it much worse than we do, but seeing your daughter—who only has a 100 word vocabulary—muster up the two words whose combination could move mountains was devastating to me.

My hope is that one day I will be able to find a balance between life, work, and family—the last of which ought to take primacy.

Guest Blogger AJ

Why we chose life insurance


Why we chose life insurance

I’ve always been a little skeptical about purchasing life insurance. The reasons not to were convincing to me for a long time:

  1. Why spend money that I may not ever get back when I could be using it now? This is the “hedging your bets” argument.
  2. If I were to die, shouldn’t my extended family and friends come around my immediate family to take care of them?
  3. Once my family does get the death benefit, won’t 99.9% of it go to taxes anyway?

But, despite these reasons, we decided to finally purchase life insurance for two important reasons:

  1. Family income: We realized that even though tax must be paid on interest income, the money from life insurance provides vital supplementary income for daily living, college education, and other big expenses such as purchasing a home so that family can be a bit more stable. (I did learn that life insurance proceeds are NOT subject to Federal Income Tax).
  2. As an investment: There are some policies out there—such as cash value life insurance—that allow money to grow over time, while simultaneously providing a death benefit in the event of death. There are reasons to invest in traditional accounts—IRAs, 401Ks, etc.—but we felt we had exhausted these enough that we needed another investment vehicle. In other words, we were going to invest anyway; why not allow it to also provide a death benefit?

Why are you choosing to purchase life insurance? Why not?

Guest Blogger: AJ

A Power Rangers Review by a Shameless, Raving Fan of the Original Series (with mild spoilers)

A Power Rangers Review by a Shameless, Raving Fan of the Original Series (with mild spoilers)

Overall: I really liked this movie. I was surprised, but the “dark and gritty reboot” spin didn’t mess it up for me. It was fun, funny, nostalgic, and its own thing at the same time. The whole “power of friendship” thing really worked here. In most movies, that sort of theme comes across as cheesy, but I understand now why they made the Power Rangers the “troubled teens” in this version. It gave them room to grow as they found family with each other. They took the basic structure of a Power Rangers episode and fleshed it out with meaningful characterization. Almost like they threw a little “The Breakfast Club” in there, which is never a bad thing. Power Rangers 2017 is cool movie in its own right, and if you’re a fan of the original show, it delivers in the throwback elements, too. It WAS darker and grittier, but it still FELT like Power Rangers.

For all you 90s kids out there, here’s a little breakdown of the morphinominal (and not-so-much) aspects of the movie, complete with a few unqualified, nostalgic references juuuust for you:

Liked:

1) Bryan Cranston as Zordon was AWESOME. He worked on the original show, and Billy Cranston, the Blue Ranger, was named after him. And yes, he nailed the Zordon vibe. So great!

2) Billy was on the autism spectrum, and he was easily the best character in the movie. He was legitimately funny. RJ Cycler did a pretty good job acting as this character, too. Really cool move by the filmmakers.

3) Jason grew from a character who is very different from the cool, staid, humble leader of the original series into someone who is closer to that character by the end of the film. It gave his character a lot of depth. But I still miss Austin St. John. #You’llAlwaysBeMyHero

4) Naomi Scott. Her Kimberly was very close to Amy Jo Johnson’s. The subtle details of her performance made this feel like Power Rangers more than anything else in the movie did. She anchored the show. And I just really like her as an actor. She was in Terra Nova, another one of my favorite nerdy shows–incidentally, also involving dinosaurs.

5) Alpha says “Ai-ai-ai!”

6) Rita says, “Make my monster grow!”

7) Jason says, “It’s morphin’ time.”

8) Defeating Rita a la Team-Rocket’s-blasting-off-again.

9) Kimberly cliff jumps — a throwback to the coolest scene from the original movie.

10) There are mature themes, but they are handled appropriately for a movie aimed at this age group. They don’t gloss over things, but they aren’t showing the intimate pictures, etc. It’s clear what’s being discussed, but it’s also clear the film is not about sensationalizing kids. (Except maybe that swimming scene at the beginning. They show Kimberly in her underwear, which seemed a little out of place in a movie targeting a younger demographic.)

11) Zordon and Rita were Rangers. This fills in a lot of questions from the original about how Rita acquired the Green Power Coin. And it sets up the sequel nicely.

12) That mid-credits scene . . . “Tommy Oliver,” with the legendary jacket draped over the chair.

13) Best part: Y’all. There was a cameo. They said there wouldn’t be, but there was. I’m not gonna spoil it, but . . . I almost screamed.

Didn’t Like:

1) Rita’s whole dominatrix outfit thing. Or her general, creepy vibe.

2) Zords were weird. (Why did the Mastodon have six legs?)

3) Goldar was weird.

4) Alpha was weird.

5) Zordon was a Pin Art 3D

6) The original theme played at an out-of-place time.

7) There were no beepers. Alas, the 90s, you are no longer with us. 🙁

8) Billy: “We’ll call it a . . . a MEGAZORD!” (Not the exact quote, but basically.)

9) Bryan Cranston never told the Rangers that he is the one who knocks.

Mixed Feelings On:

1) The Command Center was okay.

2) The struggles piloting the Megazord reemphasized the Power of Friendship rule and addressed a major plot hole in the original version. (How did the Rangers learn to pilot a giant mech in two seconds?) The suit interface with the Zords helped explain that, too. Still, I kind of wanted the Megazord to throw back to the TV show–lightning sword and everything. 3) Zack’s subplot–taking care of his sick mother–was wonderful. The cultural aspects of his role were very respectful and well performed. He genuinely felt like an Asian-American student with a foot in the culture of his upbringing and a foot in American youth culture. His performance also carried all the frustration and posturing that often comes with living in two worlds at once. I loved Ludi Lin’s character through and through–I just wanted more of him. 4) Trini was also a fantastic character. Unfortunately, just like in the original show, we didn’t get to zoom in on her as much. My favorite scene of hers scene was at the campfire when she gets really vulnerable. It was so well done. Becky G had the most difficult role to play, and she might have been the best actor on the show. She sold me on Trini. Again, I really wanted more of her. Conclusion: 7.5/10 Power Rangers 2017 was great. It was a fun ride, a well-paced story, and it had some solid actors that made the characters relatable and believable. I think Millennial fans of the original, teens, and kids can all find something to enjoy about it. I’m excited to see where they take the franchise from here. If you’re taking your kids to see it, be aware that there is darkness, creepiness, and mature subject matter including death, sexual attraction, sexting, and how generally messed up teenagers can be to each other. But there’s also a lot about self-forgiveness and the benefits of community that’s pretty–well, powerful. Be prepared to talk to your kids about this stuff. Or don’t take them if you think it’s not right for your family. But the reality is, this is stuff that teenagers deal with, and I think the movie presents it in a way that you can have a great conversation about it. All in all, if you’re looking for a fun, spring action flick, Power Rangers is a good one to see!

Guest Blogger: JJ

 

Tracking The Affordable Care Act?

I received a Newswire from the National Association of Health Underwriters ( NAHU ). For those that are tracking the Affordable Care Act and the impact that it has on all of us may find this blurb and article to be interesting. You may recall that it was a given that without the mandate for coverage the ACA would not work. Understanding that the repeal is on, without the IRS enforcement this would be the proverbial “taking it apart at the seams”! I just hope the Republican plan can turn the ship without sinking it.

 

IRS To Pull Back On Enforcing ACA’s Individual Mandate For Coverage.

 

The Washington Post (2/15, Goldstein) reports the Trump Administration is making its initial changes to the Affordable Care Act by “reversing plans to withhold tax refunds this year from Americans who flout an insurance requirement in the law.” Under the Obama Administration, the IRS “had announced that it would no longer process tax returns for people who fail to send a notice with their returns that they have insurance, are exempt from the requirement or are paying the fine.” But on Wednesday, the IRS revoked this rule, saying instead that “tax returns will be processed as always, even for individuals who do not provide the required information.”

 

Want Better Life Insurance Rates ?

Many things effect life insurance rates. One factor can be high blood pressure. Want to live longer? Want to have lower life insurance rates? Consider the Dash Diet. You’ve never heard of the DASH Diet? DASH stands for Dietary Approaches to Stop Hypertension. We know exercise, diet and medication can impact blood pressure. Controlled high blood pressure means better life insurance premiums. The DASH diet is low in fat and sodium but rich in low-fat or nonfat dairy foods, healthy fats, fruits and vegetables. It can lower blood pressure.

 

How can you add DASH to your lifestyle? Make small changes first by changing only your fruit and vegetable intake. You can do this! Keep track of the fruits and vegetables you eat and slowly add more to your diet. Your goal is 8 to 10 servings a day. A serving of most vegetables and fruits is only ½ cup, about the size of an ice cream scoop. If you have health issues that cause you to have too much potassium in your blood  you may need a diet that is lower in potassium than the DASH diet.

 

Consider these suggestions for eating more fruits and vegetables:

  • Try to eat fruits and/or vegetables at every meal. Take fruit to work or school as a snack.
  • Make a baked potato bar. Serve baked potatoes with a variety of toppings such as broccoli, chili, salsa, and beans. If you use toppings from a can or jar be sure to choose low-sodium varieties, or even better, make them yourself from fresh ingredients. Be creative. You could end up with 4 to 5 servings of vegetables at one meal.
  • Try nonfat or low-fat yogurt topped with fruit and unsalted nuts.
  • For a snack, have a smoothie made with low-fat or fat-free milk and frozen fruit chunks.
  • Combine a ready-made pizza crust with low-fat mozzarella cheese and lots of vegetable toppings. Use tomatoes, squash, spinach, broccoli, carrots, cauliflower, peppers and onions.
  • Use a variety of cut-up vegetables with a low-fat dip as an appetizer instead of high-fat chips and dips. Try some new vegetables.
  • Make a stir-fry containing lots of different vegetables and serve over brown rice.
  • Try some vegetarian meals using beans and peas.
  • Add garbanzo beans to a salad.
  • Use fat-free refried beans.
  • Make split pea or black bean soup.
  • Buy a vegetarian cookbook and try one recipe each month or each week.

Once you are eating the right amount of fruits and vegetables each week, move on to other changes. Eat less saturated fat found in meats, dairy products and processed foods. Use vegetable oils such as canola, olive, and corn oils. Eat healthy fats from nuts and fish. Eat less sodium by cutting down on how much processed food you eat such as snack items, lunch meats and canned soups. Buy frozen meals that have less than 400 milligrams of sodium listed on the label. Drink fat-free (skim) milk. A glass of fat-free milk has only 80 calories and no fat and is packed with blood pressure-lowering nutrients. Get 2 to 3 servings of milk or milk products every day. For breakfast, have whole-grain cereal, fruit and skim milk.

 

Try these suggestions and you will be on your way to a healthier diet.

(Dietary suggestions offered by c. miller of aetna)

EASY ON-LINE LIFE INSURANCE APPLICATIONS

The National Association of Insurance & Financial Advisors ( NAIFA ) Smart Brief reported that a major reason consumers are shying away from purchasing life insurance is due to complexity in the application process. I do understand that this society is all about point and click then on to the next flash of information or on to the next barrage of daily activities.  Having been involved in the Group Insurance/Worksite Marketing stage of life insurance selling, I know firsthand that people do love simplicity when it comes to making life insurance decisions. Younger and middle-aged consumers will often leave family life insurance needs unmet  and perhaps it is due to lack of simplicity in the application process.

Employers are shifting more and more to a self enroll model thereby eliminating face to face consultation.  Life Happens notes that 66% Americans under the age of 40 indicated that “purchasing a life insurance policy is complicated.” And 54% of the U.S. adult population feels the same way. Perhaps I am “old school” but what about just meeting with an agent? They can help explain the products and facilitate the application process.

If you insist you can do it all over the phone and internet but we have Qualified Top Agents that you can talk with about your life insurance needs.  Additionally, we have a very simple application process available. You can get a rate and even start the application process by spending less than 10 minutes. The rest of the process is handled by the pros. It is really streamlined and easy for the consumer.

Additionally, we have carriers that will underwrite life insurance applications on a non-medical basis, meaning No Medical Exams are required in order to be considered for approval. You can apply and have an approval all within 30 minutes.

If our Agents can be of help to you, please Click Here     or call us at 817-545-3900.

BEDFORD LIFE INSURANCE AGENCY CELEBRATES 20TH ANNIVERSARY

January 1, 1997, we started Reynold Jones Insurance Group. It is hard to believe that 20 years have come and gone! We started with just a handful of carriers in 1997 and now represent over 20 life insurance and annuity companies as we are involved in selling term life insurance, guaranteed universal life insurance, whole life insurance and annuities. In addition, a long term cornerstone has been worksite marketing (group life insurance) and particularly Texas Life Insurance Company in Waco, Texas.  We began working with Texas Life in April, 1997, and these people are like family!

The great blessings for me are the relationships that I have as a result of being involved in such a “people industry”. Life insurance is up close and personal. We have the opportunity to help families in such an impactful way. We appreciate the confidence that our clients, agents and carriers have entrusted us with as we have worked hard to impact all of you in a significant way. So many have impacted all of us in ways that you may never completely know but just know that we appreciate you!

We have learned a lot and we have many resources that can be of help for our agents and clients. So much is moving into the world of electronic business dealings and we do support those processes.  However, being a baby boomer, I love to be up close and personal, more face to face. So we are here, call and set an appointment if we can help.

If you simple want to “kick the tires” and get a no obligation Quick Term Life Insurance Quote you can do that by clicking right here  www.QuotesDoneRight.com/ReynoldJones 

 

Americans retiring despite financial squeeze

Did you know that delaying the age at which you receive your Social Security benefits could give you a nice increase in benefits rather than receiving 100 % of your Social Security Benefits at age 66?

Yes, if you waited until age 68 you can multiply your Full Retirement Benefit by 116%.  If you waited until age 70 you can multiply your Full Retirement Benefit by 132%. Half of all Americans retire between age 61 and age 65. Read the Money Magazine article below for more information.

 

Despite a severe retirement income crisis, many Americans still stop work too Play Video

About half of Americans call it quits between ages 61 and 65 while 18% retire even earlier, according to the data shown here from LIMRA Secure Retirement Institute. By age 75, 89% of Americans have left the labor force, LIMRA says.

LIMRA chart.
Courtesy of LIMRA Secure Retirement Institute

The retirement statistics no doubt include some people who can’t find work or who can’t work because of health problems. Still, early retirement can mean an income squeeze.

Along with stopping work early, most Americans begin collecting Social Security before their full retirement age, which is 66 for many and rises to 67 for those born after 1960, LIMRA says in a recent report.

The percentage of those claiming Social Security early is declining. That’s generally good news because monthly benefits rise by roughly 6.5% to 8% a year between ages 62 and 70. Still, in 2014, 57% of men and 64% of women took the benefit early, LIMRA says.

Half of leading-edge baby boomers, those ages 61 to 69, have fully retired and about 15% of the U.S. population is now finished with work. Among this group, the presence of a traditional pension or retirement plan is often what separates those considered income-rich from those who are not, LIMRA found.

Retired Americans receive $1.3 trillion in income. The vast majority of this income comes from two sources: Social Security (42%) and traditional pension and retirement plans (30%). Traditional pensions remain fairly common for those over 75 but are virtually nonexistent for those under 34, LIMRA found.

Some 41% of retirees have annual income less than $25,000, and of those, only 21% receive income from a pension or retirement plan. Meanwhile, of retirees with income over $50,000 a year, about 80% draw from a pension or retirement plan.

To get a picture of how severe the retirement income crisis is—and why more Americans should consider working longer and delaying Social Security—LIMRA looked at total savings. U.S. households own $31 trillion of investable assets. That’s an average of $253,200 per household. But most of that is owned by the wealthy. The median holding is just $17,500 and three in four American households have saved less than $100,000.

 

GUARANTEED UNIVERSAL LIFE

Guaranteed Universal Life

 

 

Hi Reynold,

 I really like the GUL video, as it’s simple and understandable.

  1. Do you position GUL the same way or do you have a different way of presenting GUL?

 I present GUL in much the same way in comparing it with the alternatives of term and whole life, and generally take whole life off the table fairly quickly due to the high costs relative to term or GUL.  Also, I’ve never been a big fan of using life insurance for retirement planning purposes, so whole life is generally not something I’m comfortable recommending to my clients.

 2. Do you have an effective “Close” that seems to help you, and one we can share with other agents?

 It’s true some folks truly have a short term need, in protecting against a premature loss of life to provide for college planning, home mortgage, income replacement prior to retirement. In this case we discuss a level term life plan to mirror the term and face amount needed to address these needs. I present the option of GUL, which guarantees a level cost and guaranteed future pay out, regardless of the age of death. (I’ve found people like guarantees.) I address the beauty of term life in lower relative premium costs, but also mention it’s unlikely the benefit will be paid out to their loved ones. I tell my clients I hope they live to age 100 and never need to use their term life plan anyway! And if that’s the case, they might wish to consider a GUL plan which offers a Win Win alternative.  If you die early, it’s a Win as you’ve paid pennies on the dollar for the money which will be paid to your loved ones, AND if you die at age 100 it’s a Win as you shared that many more beautiful experiences with your loved ones, plus are guaranteed to pass on a gift to them at death for them to remember you.  Would you like to be able to do both?

 

Have a blessed evening!

Doug Roufa, CLU ChFC       

ROUFAINSURANCE.COM

https://www.youtube.com/watch?v=RFCYUM_s-I4