By Arnold C. Friedman, MD, FACR
As a middle-aged physician all too aware of the fact that we are all merely “passing through” life on our way to somewhere else, I am increasingly concerned with having a good work-life balance. Gone are the days of my residency when I was only able to catch a couple of hours of sleep here and there and be lucky to have the time to eat a fast food meal for lunch or dinner. At this point in my life I want to take care of my physical and mental health and diminish the amount of stress that I have. Don’t get me wrong—running a practice is always stressful but there are new ways to diminish that stress and new ways of working that physicians can now take advantage of.
In a 5-4 decision, the Supreme Court says makers of generic drugs cannot be held responsible for warning consumers of the dangers of their drugs on the package's label when the brand-name equivalent doesn't.
The plaintiff in the case sued PLIVA inc. (and every other generic drug manufacturer with deep pockets) claiming she contracted a neurological movement disorder as a result of one of their meds. Surprising just about everyone, she lost.
Medicine continued to be one of the few economic sectors still creating jobs in the wake of the recent recession. Not as many were created in May as in prior months, but there is still a significant need for physicians and others who provide patient care.
"We have seen growth -- not any sort of decline -- in demand for health care practitioners," said Mary Scholz Barber, vice president of recruitment partnerships and marketing with Cejka Search in St. Louis.
Unemployment as a whole held steady at 9.1%, with 54,000 jobs added in May, according to data released June 3 by the U.S. Bureau of Labor Statistics (bls.gov/news.release/empsit.nr0.htm). Most lost jobs were in local government.
This article was originally posted on U.S. News
While no investment approach is successful all of the time, here are six common investing mistakes to avoid:
Inability to take a loss and move on. Psychologically, it's difficult for investors to sell an investment with a loss. Often they prefer to wait until the investment at least gets back to a break-even level. However, that may never happen or may take a long time to do so. The best approach is to forget about the past and ask yourself: "Would I make this investment today?" If the answer is no, it's time to sell and invest the proceeds elsewhere.
I don’t know when the next 20% move in the market, up or down is going to occur, but, I do believe that over time the market will move up.
If great companies can make a profit, then I will make a return in my investment in those great companies. In a recent Blog I mentioned that when the market trends down, as it has been now for seven weeks, some investors get very nervous. Their first reaction is to pull out of the market and sit on the sidelines. Yet, we must be willing to experience volatility in the market if we want the size of gains that the market can give us.
I’m often asked “How do I begin to get my financial affairs in order?”
That’s a great question. The task can be daunting. Do you begin with gathering documents, or do you start reviewing your investment portfolio, or do you start reading Money magazine and hope that you’ll be able to solve this seemingly complex problem?
I suggest to forget about all of that stuff…for now. Honestly, that stuff just isn’t as important as the more meaningful discussions you should have about your finances. Let me explain.
By Anthony J. Ogorek, Ed.D., CFP®
A major impediment to financial success, as well as to personal happiness, is loss aversion. In a nutshell, loss aversion is the strong preference we have to avoid losses, even at the expense of gains. Another way of putting it is that we feel the pain of a loss much more intensely than we do the joy of a gain.
There are many decisions that we make in life, often to our detriment, due to a subconscious aversion to risk. For example, some people will gravitate to public sector jobs because of the perception that they offer more security than a position in private industry. When examined more closely, the potential pain of a job loss, reduced pay and possible relocation may outweigh the benefits of employment in the private sector.
If your parent or loved one needs home health care, you may choose to hire a home health aide to assist with routine tasks, such as bathing, preparing meals, getting dressed, shopping, and housekeeping. However, once your loved one has agreed to receiving this care, a number of potential problems may arise. Anticipating the issues that seniors may have with new home health aides and other caregivers coming into their home can prevent problems before they arise.
First and foremost, seniors have to feel completely comfortable with the people who are entering into their home. Many seniors are settled into familiar mindsets and routines, and trying to change those ways of thinking can be difficult. But, there are steps you can take to help ease the process for all involved.
Are your baby boomer business owner clients prepared for retirement? Many are not. Find out how you can help get them significant retirement nest egg.
Nicholas Paleveda MBA J.D. LL.M, Adjunct Professor, Graduate Tax Program, Northeastern University, Boston.
USA Today recently reported the first baby boomers are turning 65 ….We all know that this huge group called the baby boomers are beginning to enter their retirement years at a time of historical market volatility. There’s no doubt that you have seen the harsh economic climate of the past two years erode your 401(k) s. Your 401(k) may have become, what is jokingly referred to as, a 101(k); and other retirement plans have been hit as well. If your client happens to be a small-business owner or professional, they may face even greater barriers to a secure retirement. The strategy that many small business owners have traditionally fallen back on is “my business is my retirement.” In today’s environment that strategy may not be as viable as it once was.
This is a guest post from Nick Paleveda, National Pension Partners
Equity out to fund your pension plan.
By: Nick Paleveda J.D. LL.M
Large companies have traditionally funded their pension plans by obtaining loans. General Motors borrowed 17.6 billion dollars in 2003 to fund their pension. A big question looms for many Professional owners. How to fund for their retirement prior to the business sale? The “equity out plan” may be the way to go. Certain business owner can obtain a loan to fund their pension. A defined Benefit Pension Plan allows much greater tax deductible contributions then a 401(k). In many cases, these contributions can be $150,000 to $200,000 or more depending on your age and salary.