CHARLOTTE - They come from Florida, the Rust Belt and the Northeast. And the way they vote is changing the political complexion of North Carolina.
The waves of moderates and independents who have moved here have made this a battleground state, one that Democratic presidential nominee Barack Obama has a chance to win, pollsters say. That’s a massive shift for a state where Sen. Jesse Helms used race in 1990 and 1996 to beat Senate seat rival Harvey Gantt, Charlotte’s only black mayor.
But many of today’s voters weren’t even here then.
Newcomers have everything to do with the state’s being in play, said Ferrel Guillory, director of the Program on Public Life at UNC-Chapel Hill.
Republican political consultant Dee Stewart disagrees. North Carolina is a battleground, he says, because Obama has outspent Republican John McCain and is ahead of him nationally.
Obama “is running further ahead than the Democratic nominees in 2000 and 2004, and some of that is spilling over into North Carolina,” Stewart said. Another factor, he said: “The economy is not performing well right now with a Republican in office.”
Still, he believes the state’s conservative roots are strong and McCain will win here.
Where they come from
People have flocked to North Carolina because of better job opportunities, leaving behind places where the economy has been worse off, such as the Midwest and Florida. Charlotte’s big banks have also drawn transplants from the Northeast, a traditional Democratic stronghold.
Last year, Florida and New York delivered the most newcomers, while three Rust Belt states — Ohio, Michigan and Pennsylvania — were in the top 10. A Charlotte Observer analysis of county voter registration records shows more than half of Mecklenburg’s eligible voters registered after 1999.
Newcomer Fran Walshin, of Davidson, says she got out of Florida just in time — three years ago, when she could still sell her house. But it’s not all rosy here, she said, noting that as a job recruiter, she meets lots of “devastated” professionals.
“We got in trouble, and now we need a new outlook to get us out of this problem. You can’t speak to the same people to get us out of this mess,” said Walshin, who is in her 60s and will cast a ballot for Obama.
Past predictability
Until now, North Carolina had been a politically predictable state — one that hasn’t voted for a Democrat for president since 1976, when Jimmy Carter was elected. In 2004, President Bush won the state by 12 percentage points over Sen. John Kerry and North Carolina-raised running mate John Edwards.
Polls show McCain and Obama are tied in North Carolina less than two weeks before the election. McCain has visited the state twice, and Obama has been here four times. Both vice presidential picks have made multiple visits. And both campaigns are flooding the airwaves with ads.
But newcomers — 263,000 last year — aren’t the only reason North Carolina is in the election spotlight.
The Democratic Party has held huge voter drives targeting blacks. Then, there are economic and banking woes. The state was late to the slowdown but is now feeling the effects of slumping home prices and rising unemployment. The recent collapse of home-grown, Charlotte-based Wachovia Corp. is yet another reason people are on edge about jobs and the future.
Tina Gerbino, 39, who moved to Charlotte two years ago from Long Island, N.Y., cast her early vote for Obama. It was her first time ever voting. Her issue: the economy. Soon after moving, she lost her job, and her husband can get only part-time hours at his job.
Read More:News & Observer
Make Smart Spending, Saving a Family Resolution
(ARA) – With the economic crisis hitting everyone in the pocketbook, it’s more important than ever for parents to talk to their children about how to manage money. New Year’s — a prime resolution time for millions of Americans — is a great time for children and their parents to learn better spending and savings practices together.
Forty-six percent of American families hold a credit card balance according to the U.S. Census Bureau’s 2004 statistics. And in 2007, more than 800,000 bankruptcy cases were filed in the United States.
Managing money is a family affair. By resolving to set financial goals and working together to practice management, families can enjoy independence and security. “Parents and their children can learn from and challenge each other to plan better ways to use the money they earn and save,” says Scott Oberkrom, director of Community Investments at American Century Investments.
As families sit down to discuss their financial resolution, they need to determine how the changes will affect each member. Once the resolution is finalized, post it in a public place so all members can see it every day. Visit www.YesYouCanOnline.info to learn more on how to make sure resolutions stick.
Some tips families can incorporate into their smart money management resolution include:
1. Financial responsibility starts with examples from home.
Parents need to evaluate their budgets and make wise spending choices — don’t buy a new speed boat if you just told the kids you couldn’t afford to get them a new iPod. Share the family budget with your children to demonstrate how money doesn’t grow on trees and the family has regular expenses that must be paid.
2. Set up allowances for children.
Once your children are old enough to understand basic math, an allowance can help them learn how to budget, spend and save. Parents can also set up allowances for themselves. Showing the children that Mom and Dad fit haircuts, buying lunch or shopping for new clothes for themselves within a weekly cash budget gives children the best example of wise money management.
3. Take a trip to the bank and organize savings accounts.
Children — and many adults, it seems — need to be taught how to save money. Take the whole family to the bank to set up savings accounts. Decide as a team what goal you’re saving toward. Parents should consider saving to help secure the family in case of a financial crisis. Kids’ accounts could be earmarked for college tuition or to buy their first car.
4. Teach kids creative ways to earn money.
A hobby could become an income-generator for all members of the family. Perhaps you have a tremendous green thumb. And maybe you have your children help tend the vegetables and pull the weeds in the garden. The entire family can turn this hobby into a small income by taking the produce to farmers markets or setting up a neighborhood stand.
All New Year’s resolutions take work, but they can be accomplished if all family members share in the effort. Having all family members work together, giving encouragement and little reminders, also can help you stay on track.
“Setting goals, both at New Year’s and throughout the year, is one way people can achieve their dreams,” says James Stowers, founder of American Century Investments. “As I reflect on what I have learned through the years, I am convinced that anyone — and I mean anyone — can become what they are absolutely determined to be.”
Make 2009 the year your family resolves to take charge of your money management together. Visit www.YesYouCanOnline.info for additional tips.
Courtesy of ARAcontent.com
(NewsUSA) - America’s private, job-based benefits system is one of the most successful in the world. The benefit plans within the system hold more than $6.1 trillion in assets and cover approximately 150 million workers, retirees and their families. The job-based benefits that give millions of workers health coverage and the opportunity to enjoy a financially secure retirement are more critical than ever.
Since 2001, the Labor Department has made great gains in its efforts to safeguard the pension, health and other employee benefits crucial to millions of workers. And we are continuing to improve the system to make benefits more accessible and secure.
This administration succeeded in enacting the Pension Protection Act of 2006 - the most sweeping reforms of retirement plan rules in over three decades. These reforms have improved the solvency and the transparency of traditional pension plans, better ensuring that retirement promises made to workers are kept.
We are boosting participation in 401(k) and similar plans through automatic enrollment, helping many more workers and their families build a nest egg for a secure and comfortable retirement. We are also making it easier for workers to get quality, professional investment advice to inform their retirement savings decisions.
And the Labor Department’s efforts have produced record-setting results. Since 2001, our enforcement and outreach programs have yielded monetary results of nearly $11 billion on behalf of workers and retirees and have led to the indictment of more than 800 individuals for crimes involving benefit plans.
In addition, the participant assistance program handled nearly 1.3 million inquiries that helped individuals understand their benefit programs and recovered nearly $545 million to pay pension and health benefits of working families.
The Department’s successful stewardship benefits millions of Americans, both as workers and investors. The Department of Labor put the tools in place for workers to plan and save for their retirement, and now it is up to each of us to save so we can achieve our retirement dreams. For more information or assistance, call 1-866-444-3272 or visit the Web site at www.dol.gov/ebsa today.
Destination Clubs Offer Peace of Mind in a Risky Market
One reason for the switch — most clubs provide a guaranteed refund of deposit, which may be more appealing than the liability of purchasing a second home in a potentially risky real estate market.
“With the current market, people are looking for alternatives to owning a vacation home. They still desire the quality time spent on vacations, but they want options,” says Steve Greer, founder of the LUSSO Collection, a boutique luxury travel destination club. “Destination club members get the opportunity to have luxury vacations around the world, without the hassle of second home ownership. Plus they have peace of mind because of the refund available on their deposit.”
Besides being concerned about the unstable real estate market, many people are finding that having a second home is simply too much work. Although you have the benefit of total control over design and decor in your own home, it often requires a lot of maintenance that can add up fast in time and money. If you live far away from your vacation home, that means hiring out the upkeep of the property. If you live close, you might spend half your time there tending to necessary household tasks.
Destination clubs are another option that consists of members who join a country club type of organization to utilize a portfolio of properties that the club owns. The clubs work well for people who enjoy the privacy, space and conveniences a home offers, but don’t want to worry about maintenance hassles or be limited to one destination. Additionally, certain destination clubs also provide vacation planning and on-site concierge services that you would normally find at a luxury hotel.
Decor and amenities are determined by the club, and although this freedom is forfeited, many view this as a positive. Some people prefer not to spend their own time on these items and find comfort in knowing the organization is consistently keeping the properties in superb shape.
Interest in destination clubs is evident in the recent growth of LUSSO, which has doubled in size since 2007 and recently reported its strongest quarter since its start in 2006. The concept for the LUSSO Collection came to Greer after traveling with his wife and first child. They found rented homes to be unsatisfactory and the prospect of buying a second home unappealing. The need for rented cars, car seats, toys, games and groceries made the travel experience less than pleasant.
With its unique boutique structure and a members-to-residence ratio of 5.5-to-1, LUSSO is a choice that makes sense for a lot of people. Members get unlimited use of private luxury homes that are fully equipped with all needed items including a Lincoln Navigator, golf clubs, a gourmet kitchen stocked with pre-arrival groceries and amenities for all travelers regardless of age. The membership deposit is 100 percent refundable upon resignation as well as annual dues.
With an economic structure that is similar to a country club, members pay a fully refundable deposit (currently $425,000) and annual dues for unlimited access to the club’s portfolio of residences and services. Properties are in locations such as Lake Tahoe, Calif.; Cabo San Lucas, Mexico; Aspen, Colo.; Manhattan; Hawaii; the Bahamas and other choice destinations. For more information, visit http://www.lussocollection.com , or call (866) GO LUSSO.
As prices increase, money buys less. But one dollar a day can become a nest egg in an IRA.
(NewsUSA) - Americans across the country have noticed that when it comes to groceries and gas, their money purchases less.
The amount of money that used to purchase two gallons of milk now purchases one. Gas prices have almost doubled, increasing costs for those workers with long commutes. Americans find themselves rebudgeting, though their income remains stable.
But with a little financial savvy, Americans can stretch their dollars. Simple changes, like purchasing generic puffed rice instead of name-brand cereals, clipping coupons or buying dried goods in bulk can save money at the grocery store. Keeping tires properly inflated and driving the speed limit can help increase vehicles’ fuel efficiency, leading to lower costs at the gas pump.
The best way to make a dollar more valuable? Save it. In planning for retirement and future expenses, Americans can turn their dollars into considerable nest eggs.
Financial advisors and columnists agree -; saving small amounts of money sooner results in larger net yields than saving more later in life. At age 25, someone saving 2,500 dollars a year in an individual retirement account (IRA) with 6 percent interest will save $437,376 by age 65. Someone starting to save at age 35 will have to put away $4,865 each year to make the same amount by age 65.
It’s never too early -; or late -; to begin saving. One company, Save252, allows customers to contribute as little as a dollar a day, 265 days a year, towards their retirement.
Users specify the amount of money they want to contribute to a regular account or Roth IRA. Save252 automatically withdraws that amount from users’ checking accounts, then transfers the funds. Customers remain in complete control of their savings -; they can, at any time, change the amount of money they want to save, or they can stop payments.
Even people living in lower tax brackets can afford to save for retirement with Save252.
For more information and more money-saving options, go www.save252.com.
(ARA) - Ever wonder what you would do for money if you couldn’t work because of injury or illness? If not, you’re not alone; more than half of all Americans have never discussed with anyone how they would continue paying their bills if they became disabled, a new survey reveals. The good news is that, with a little planning, you can lessen the potential financial impact of experiencing a disability.“While there may not be much you can do about the housing crisis or the recession – or how either of those factors will affect the economy – you can do something about the financial strain that a disability can have on your personal financial security,” says Robert Taylor, president of the Council for Disability Awareness, which sponsored the recent survey on American’s knowledge of and attitudes about disability.
Among the findings of the CDA Worker Disability Planning and Preparedness Study:
* More than half (56 percent) of all workers have never discussed how they would manage during a disability.
* While most workers rate their ability to earn a living as the most important factor for their long-term financial security, two out of three don’t even think about disability when they discuss financial planning.
* Most would rely on a patchwork of income sources, including help from family and friends, retirement savings, home equity loans and credit cards if they were out of work for an extended period of time.
* Sixty two percent of workers believe they would count on a spouse’s or partner’s income for support, despite the fact that the majority of American households – even those that are two-income – live paycheck to paycheck and have a negative savings rate.
Americans are also confused or unaware of disability income programs that may be available to them. The survey indicates:
* Half of the workers whose employers provide sick leave benefits don’t feel they understand them very well.
* Of those workers whose employers offer a long-term disability program, just 28 percent said they understood the program.
* One in three surveyed workers does not understand or is not aware of Social Security Disability Insurance, a key disability program for 150 million workers across America.
“The survey underscores the need for workers to incorporate the financial risks associated with disability into their financial planning mindset and actions,” Taylor says. “The ability to earn a living is the most important driver of financial security for the majority of people; it needs to be valued like a retirement fund, savings account or a home.”
Taylor offers the following tips to begin planning for the financial impact of disability:
* Develop a plan to improve and sustain a healthy lifestyle. The best way to reduce the financial impact of disability is to lower your chances of becoming disabled.
* Think about the basic living expenses that would continue if your income stops as well as the “added” expenses associated with an illness or accident like insurance deductibles, co-pays, COBRA premiums and care giving.
* Ask yourself what disability income programs may be available to you. Examples might include employer sick leave, disability insurance, Social Security Disability and workers compensation. Educate yourself on the benefits and qualification requirements.
* List other sources of income that might be available to your and for how long; spouse or partner income, savings, retirement plan assets, etc.
* Visit the CDA’s Web site, www.disabilitycanhappen.org, where you will find tools that can help you estimate what your income and expenses might look like during a disability, and can provide you with a guide for developing a personal action plan. You can access a financial review, facts and figures about disability, real-life stories, current articles, and tips for a healthy lifestyle that can help you avoid disability in the first place.
“Broader awareness and education about available disability programs is a critical starting point to helping more workers assume responsibility for their long-term financial security, which continues to shift to the American worker,” Taylor says. “When workers understand the impact of disability on their finances and the resources available to them, they will take more informed actions to protect their financial stability.”
ARA) - Diabetes is one of the fastest-growing health crises in the United States. One in four Americans, or about 75 million people, has diabetes or is at risk of developing type-2 diabetes.
As with other chronic diseases, the financial consequences and economic impact of diabetes can be devastating. According to the American Diabetes Association (ADA), one out of 10 health care dollars is now being spent on diabetes and its complications while people living with diabetes spend nearly $11,000 more per year on medical expenditures compared to those without diabetes. Furthermore, the Milken Institute estimates that this year diabetes will result in over 140 billion dollars of lost wages and productivity costs. Fortunately, just as there are lifestyle actions people can take to manage and even prevent diabetes, there are steps people can take to prepare for the impact of diabetes on their financial security.
“Often, the financial implications of chronic diseases such as diabetes are overlooked,” says Robert Taylor, president of the Council for Disability Awareness (CDA). “It is important to understand that complications from diabetes may hinder people’s ability to earn a living, jeopardizing their present and future financial security. Wage-earners should be thinking about the financial measures they need to have in place to protect their financial lifestyles.”
Financial preparedness in case a disability happens is a critical responsibility for all wage-earners, particularly as disabilities among the work force continues to grow. A good starting point in the planning process is to estimate the monthly living expenses that would continue during an income limiting disability and determine your potential sources of income. From there you can develop your own plan for protecting your financial lifestyle.
The CDA Web site offers a financial review form that helps users to see how a disability could affect their financial situation, and a guide on how to prepare for that possibility. Also available at www.disabilitycanhappen.org are facts and figures about disability, real-life stories, and tips for healthy living that can reduce your chances of suffering from a chronic disease like diabetes.
Courtesy of ARAcontent
Why Long Term Care Insurance Should be Part of Your Retirement Plan
(ARA) - Striking a balance between financial resources and lifestyle goals is often challenging. If you’ve spent any amount of time on financial planning, you have undoubtedly faced the need to fund retirement savings, pay college expenses or insurance premiums, while also maintaining a lifestyle you and your family can enjoy. As you look down the road to retirement, one issue you may not have considered is the need for Long Term Care Insurance (LTCi).
Baby boomers grapple with many critical questions and financial considerations as retirement looms, according to “Fourth Pillar: Retirement Choices,” a recent white paper issued by Prudential Financial. Decisions like when and where to retire, whether to keep working, how to provide for dependents and transfer wealth, and when to draw Social Security can all seem pressing.
With so much to think about, it’s easy to see how LTCi might fall to the bottom of the priority list. Yet statistics show, given current life expectancies, many of us will need some type of skilled care at some point in the future.
“America’s elderly population now exceeds 35 million and will increase dramatically in the next 15 years, with more than half of those seniors needing some type of skilled care,” says Andy Mako, senior vice president of The Prudential Insurance Company of America’s Long-Term Care Insurance business. “It is of great concern that many Americans are not fully aware of the costs of care, underestimate the risk of needing assistance, or often have misconceptions about who will pay for their care.”
If you are like many people, you may assume your health insurance will pay for skilled care. Or that Medicare or Medicaid will kick in should the need arise. Unfortunately, these imagined safety nets do not apply to LTC and the reality is your own savings and assets will most likely be used to cover expenses. When you consider that the average two-or three-year stay in a nursing home can run as high as $185,000, according to Prudential’s 2006 Long-Term Care Cost of Care Study, it’s easy to see how those savings and assets could be quickly depleted.
What LTCi Covers – and what it does not:
Many people automatically think of nursing homes when they think of long-term care, but people with policies purchased their coverage to help them receive care and stay in their own home for as long as possible. In addition to nursing homes and care in your home, long-term care insurance can also pay for care in assisted living facilities and adult day care.
Some long-term care insurance policies even offer a “cash” benefit where the qualified claimant actually receives a monthly payment to do with as she pleases. This “cash” can be used to pay for informal care in the home, unpaid medical expenses, prescriptions or anything you want. A new trend in policies is the combination of traditional reimbursement for qualified care with a cash component that can be elected on a monthly basis. This type of “cash alternative” benefit provides a large degree of flexibility at claim time.
One thing almost all near-retirees have in common is a desire for freedom-of-choice during retirement. LTC coverage can give you greater control over how you spend your golden years. As with any insurance purchase, you should speak with a qualified financial advisor to see if LTCi is right for you. The good news is the costs of the policy are probably less than you imagine, but the peace of mind you gain will be priceless.
To learn more about long term care insurance, visit www.NEEDURL.com or call FILL IN PHONE.
Courtesy of ARAcontent
