Unemployment vs. Employment

Companies are not hiring those who are without a job!  I learned of this interesting finding via the news yesterday and became greatly disturbed.  If a person is unemployed, they are readily available to work and will probably work 10x harder. 

A disturbing trend because of the economy is that employers are letting go their employees who are underperforming and are hiring better job performers.  Perhaps this shakedown is trickling to an end; however, the bleak times for many continue as many taking unemployment and still seeking a job are closing in on 2 years. 

College graduates and those new to the workforce are even more challenged because of little to no experience.  How can one obtain work experience when no one will hire them?

Military spouses are dealing with similar issues; however, because of PCSing and other challenges, many military spouses are challenged to find decent paying jobs.  Colleges and universities are like sharks, more than ready to take your money but the promise of a job to offset the costs of education is what prevents many from doing this.  There are scholarships and educational discounts for military and their spouses; however, you must submit applications which can take more time than is realistic for the military person.

In this troubling economic time, it is difficult to find encouragement.  The only recommendation that I can write is to not give up, keep networking and applying for jobs, and be more open to taking a job that is perceived to be lower on your list.  Perhaps digging deep and working hard will build character in you in ways you least expect. 

WILLs and survivors

It is wise for everyone to have some form of a Will in place regardless of the size of the estate.  For military, this document is usually done prior to deployments.  It is important to update all records every 2-3 years for active duty military just because a lot can happen and change within a short amount of time.  For most, it is wise to do a review of your estate upon the death of a loved one such as a spouse or child, the new addition to the family (such as a baby or adopted child), or a significant increase in holdings in the estate (i.e., those who have won the lottery which is usually 1-2% of the entire population). 

For those considering how to divide the estate, the best way is to EQUALLY divide the estate among your children.  That way all children are recognized.  Being equally divided sends an important message that the money/assets do not matter and that that child was fully recognized by their parent albeit past issues. 

Of course, for your estate planning needs, it is wise to hire an attorney to draft this legal paperwork should there be any concerns.  JAG can answer many of these questions for the military person.  It is wise to consider the source of your information and do your due diligence.  Relying on one person's advice for a major decision is a high risk proposition.  That is why asking and seeking the information from several sources is wise to make sure that you are able to have your last wishes communicated well.

While no one wants to deal with end of life issues, it is wise to complete the paperwork.  You will sleep better knowing that it is all done.  Your heirs will also relax knowing that they are in good shape.  It is money well spent especially when all can get a good night's rest.

Soldier of Finance - Women NEED this!

USAA's blogger of the month is Soldier of Finance's Jeff Rose, a former Army man and financial planner.  His blog presents some good mental approaches for military folks to address their finances.  I love his blog page for women, SOF for Women, as it reinstates from a male how women MUST learn about finances.  His statistics are well worth reading as women control over 60% of the money matters in today's modern society. 

Realistic Tips on Today's Social Security Benefits

Social Security is a program instituted under President Roosevelt in the 1930s (many immigrants believe it to have always existed but that is not the case).  It is in dire need of reform as it's Trust Fund is predicted to go bust.  While my grandparents benefited from it and were able to enjoy a better lifestyle while in retirement than working, today's retirees are not enjoying the same benefits from 30 years ago. 

This Smart Money article Things Social Security Won't Tell You is very interesting and is why I've added this information to Alfa Sugar for your information gathering purposes.   As always, please conduct your own research because laws and legislation change frequently. 

For those currently in retirement, it may prove wise to return to work and increase your income.  I understand that employers are not hiring older workers (even with all the laws in place to protect this class of worker).  By increasing your income, you could increase your social security benefit. 

Same goes for those who are close to retiring but not there....it is wise to continue to work another year or two before retiring.  Financially speaking, you would benefit in the longer run from Social Security should it not go bust.

For those younger and working in the workforce, it is wise to save for your retirement.  Relying on the government to take care of you is foolish financial thinking.  For those Americans who are collecting on Social Security Disability (yes, that number is higher this year than in years past), it is imperative to note that you are only hurting yourself in the long run if you truly are capable of working. 

You can be unemployed and retired.  There is a class of people age 60 and older who are collecting unemployment checks because of the sour economic times.  If it's any consolation, the government is not gaining more revenue because of poor econimic times.

Bottom line is an increasing financial divide between hardworking producers and folks not working but getting handouts from the government.  This mathematically will not sustain itself in the long run. 

While past generations were able to reap a double digit percentage return on money paid to Social Security, today's worker is looking at double digit percentage loss on funds paid to Social Security.  It is government so we by law must pay this tax.  However, many Americans will not appreciate this problem, and for some, it comes at a time of too little, too late.  Reforming Social Security is a major item for anyone in government to undertake.  While President George W. Bush attempted to reform it as well as other politicians, it is that 90,000 pound gorilla problem that will take lots of sweat and agony to address.  Until then, it is wise to be realistic when it comes to your retirement and your present day financial situation. 

Commemorating 9/11

Given the 9/11 anniversary coming up soon, many of us Americans are already reflecting on what's become of that historical change in our nation's history.  Terrorists attacked our country.  Normally, this is a declaration of war, but since the enemy is cleverly hiding, it's challenging to fulfill that traditional sense of war. 

Can you recall where you were and what you were doing on September 11th?

Many of us can.  Many of us mourn the loss of lives during this significant change in our nation's history.  Many of us remain leery of future attacks.  Life has changed. The days of showing up at the airplane are very different from today's strip down to get through airport security.  In some ways, it's more expensive to go and do certain things today than 10 years ago.  That is why many got a wake up call and took a lower paying job to be closer to home to have more time with the family.  More stories are evolving as time passes.

It is important to honor those lost on 9/11.  May God Bless America. 

Military Discount in Orlando, FL

Nickelodeon Suites Resort

Nickelodeon Suites Resort is proud to welcome active and retired U.S. military travelers and their families with some military discounts in Orlando, Florida, including reduced room rates and perks through December 15, 2011.  There is also a 20% discount off of a Family Suite through December 23, 2011. 

According to the company, you can make the most of your family time with rewarding military specials for Orlando’s most active family resort!  Rates start at $99 so be sure to research your final prices before booking.  They also offer 10% off food and beverages, 4-D Experience films and cabana rentals.  This is Military Appreciation, and isn't it a nice opportunity?  To book your stay and for more information visit www.nickhotel.com/military or call 877-NICK-111 and ask for the Military Family Package.

Note:  Alfa Sugar is not endorsing this special military discount, just sharing information. 

Military Retirement Concerns From New Legislation TALK

According to the Air Force Times article written by Andrew Tilghman and his staff, the plan to overhaul the current retirement setup is outraging many military folks. 

The proposal unveiled by the Defense Business Board, a Pentagon advisory group, aims to save more than $300 billion over 10 years by transforming the traditional 20-year pension into a corporate-style 401(k) savings account. Under that plan, the military would contribute cash to individual troops’ accounts, possibly about 16 percent of basic pay per year.

The plan would dramatically shift money from the roughly 19 percent of the force that serves 20 years or more to earn an immediate lifetime pension and give much of it to the 81 percent of mostly enlisted troops who leave after four, six or eight years with no retirement benefits. Critics said the plan would devastate retention and jeopardize the quality of the nation’s all-volunteer force.

If the above holds true, then many currently in the military will no doubt be disappointed and frustrated about the amount of time given and not the optimal return monetarily. 

Regardless of what occurs, many military people as well as their spouses and family members need to learn more about finances and how to better manage their financial affairs.  It is obvious that the government is not capable of properly managing the military member's best financial interest when it comes to retirement.

Politics will always present new bills, new legislation, and new changes to many things that will affect the military member.  No one likes change especially when it pertains to finances.  What is important to note is to get financial advice, to read a book on the topic and to manage your financial affairs.  Retirement and saving up for it matters more so today than in years past. 

Military Wives, Get Support!

It's amazing the amount of military wives groups that are surfacing. 

For those in the military close to a base, the opportunities to connect with other military wives is plentiful.  MOPS groups, local FRG groups as well as other groups on base are great. 

For those military wives who are in the guard or reserve and are not near a base, there are other groups evolving such as Wives of Faith, Homefront United, Wives in Bloom, and PWOC.   

There are conferences now for military spouses such as Wings for Women. 

The financial perspective is what you put into it is what you get out of it.  Most groups are interested in FREE activities.  Perhaps the cost is a cup of coffee from Starbucks, the price of a meal at a restaurant or even travel costs to attend a conference or meetings.  Child care costs are an additional expense unless a family member or friend can provide that service. 

Military wives live a unique lifestyle that is important in more ways than they even realize.  So often, the comment from most is "I could never do what you do."  These comments, though meant to be kind, are the worst kind to make because that military spouse is thinking the same thing.  Instead, it is wise to thank that person for their commitment to their husband who serves and to please thank him for his service to his country.  Even more important is for military wives to get support from others experiencing similar walks in life.  The groups mentioned above are a starting place, but ultimately it comes to the individual's willingness to reach out and make a connection.  It's worth it in the long run.  May is Military Spouse Appreciation Month and is a great way to celebrate military wives. 


 



Ideas for informal military wives gatherings:
*Meet and Greet (local coffee shop)
*Scrapbooking or hobby
*Service Project - Military Care Packages
*Facebook
*Get tips on surviving the deployment or how to communicate with your spouse
*Read a book and talk about it
*book clubs

Military Care Packages that CAN make a difference

It can be a small or big gesture....whatever the case may be, any U.S. citizen that can reach out and show that they appreciate the sacrifice and willingness for a military member to do what they do is outstanding.  While there are many opportunities to send military care packages, many folks still ask "What can we do?" or "How can we send a military care package?".

Here is some current information below.  While this may change over time, the thought being conveyed is always welcomed.  For example, I sent a card to a wounded soldier and he wrote me a thank you note.  Just that small gesture allowed him an opportunity to see what a difference he made in someone's life even though he doesn't know me.  If everyone did it, then those small gestures of appreciation would go unnoticed, but given today's world, it is monumental when there is that wonderful outreach. 

Any Soldier

Operation Worship

Soldier's Angel Facebook

USO

Troop Care Package (prebundled service)

CamoHuggies for Operation HomeFront

From a TN FRG announcement

Huggies has created a limited-edition Little Movers camo diaper that will be distributed exclusively in Walmart stores across the country. You can dress your baby cute for a cause and help support military families. Operation Homefront will get one diaper for every box of Huggies sold, up to 300,000 diapers. 

Walmart has joined in the excitement and has added a commitment of up to 200,000 diapers to be given to Operation Homefront as part of a postcard campaign; military families will get one diaper for every postcard sent during the campaign, up to 200,000.

The campaign runs now through December 31, 2011 or until a goal of 500,000 free diapers for military families has been reached. The camo diapers come in sizes 3 (16-28 lbs), 4 (22-37 lbs), and 5 (over 27 lbs).  All sizes retail for $19.77 per box.

Thanks so much to Kimberly-Clark and Walmart. For more details, go to www.huggiescamo.com.