Coaching is all about transformation.  You may hear an inner voice of discontent and you recognize your need to make changes.  That inner voice becomes persistent and you decide you want to take action.  You are ready.

How can “the right coach” be of value? What does a coach actually do?

• Helps you to focus, be honest with yourself and explore options.
• Listens deeply and helps you see what is true and right for you.
• Challenges and motivates you.
• Builds your confidence.
• Helps you step back and see the entire picture.
• Helps you set goals that match your values.
• Facilitates in the process of developing strategy.
• Is present in every way – truly caring about what you want.

How do you find “the right coach”?  Ask the people in your life if they know of anyone.  Google the names of some coaches you have become aware of and visit their websites.

Some questions to consider when choosing a coach:

1. Do you want an accountability partner? Do you want someone to bounce ideas off of?
2. Do you need someone to motivate and support you?
3. Do you need help in creating a game plan?
4. What would be your desired outcome?

To fully understand if coaching is an opportunity to help you make this transition – please arrange a complimentary call by emailing Diane MacPhee at diane@dmacconsulting.org

Diane MacPhee, CFP is a business coach and owner/president of DMAC Consulting Services, LLC.

Sarah’s is in the midst of a campaign to raise funds to purchase and rehab a building that will house their daytime service center (currently in a rented space) and provide housing units and support services.

During a recent finance committee meeting I was shocked to find out that gifts to Sarah’s for this project qualify for a 50% state tax deduction.   This means that if you are in the 28% Federal tax bracket you can reduce your taxes by an astounding 78% of your gift to Sarah’s for this project! (50% state + 28% federal)

For example, if you contribute $1000, $780 comes back to you  meaning that your out of pocket contribution is $220.

Below is some additional information from Sarah’s Executive Director, Kathy Ragnar

“Sarah’s Circle, a 32 year old agency serving women who are homeless has a unique means of raising funds for a new building. The new facility will expand their ability to house, train and support societies most vulnerable women, women who are homeless.

This organization offers a unique tax benefit to those who donate funds. This is not only a wonderful cause to support, but donors also receive approximately 80% of their donation back as a result of a unique state tax credit combined with the federal deduction.

This project has excellent backing – the agency has two top global firms providing services on a pro bono basis. Perkins +Will is providing all the architectural services and Mayer Brown is providing legal services. Additionally, the agency has been awarded a new HUD grant which will not only provide much needed capital, but operating dollars to operate the building once it is up and running.

This is a way for donors to improve the lives of women for years to come, while easing their tax burden in the coming year.”

Sarah’s website is www.sarahs-circle.org

Information of the new building is at www.sarahs-circle.org/ways-to-help/new-home-for-sarahs-circle.html

1. What are the closing costs to refinance? These may overwhelm any savings you receive especially if your mortgage balance is low.
2. Can you qualify for the best rates? There are many new rules that are now in place that may prevent you for getting the lowest rate. (Higher credit scores, self-employment, equity you have in your home, etc.)
3. To find out your real potential savings from a refi make sure to ask your mortgage broker to amortize the new loan over the remaining period of your current loan. Example: You are 2 years into your current mortgage and you are considering a refi. Have your broker amortize the new mortgage over 28 vs. 30 years to see an apple to apples comparison. Your savings will be less than the you originally thought since some of your perceived savings is from stretching your loan payments vs. having a lower interest rate.

The article has some great advice about raising your deductibles to save money, avoiding small claims which could raise your rates or get your dropped, and checking rates every few years.

You can read the article at www.consumerreports.org/ (online subscription required)

I’d like to publicly thank these clients and the many others who have been willing to open up their financial lives so that others can learn from their experiences.

To Read about John and Mike:

To Read about Jody and Rob:

Many of the annuities have a guaranteed value, or a guaranteed withdrawal amount. Most of my boomer clients with variable annuities are way over invested in stock funds within the annuity for people their ages so the cash out value would be substantially less than the initial investment or the guaranteed value with the market declines of 2008.

So were stuck with them for now. Now I’m wondering will the insurance companies be able to make good on all those guarantees my clients have been paying for. The Wall Street Journal just ran a great story on variable annuities.

Here is a quick quote from the article about the financial strength of some of the major annuity companies:

“Moody’s has “negative outlooks” on units of top-10 U.S. annuity sellers Lincoln, Hartford Financial Services Group Inc., Prudential Financial Inc., and Canadian giant Manulife Financial Corp., while ratings of units of American International Group Inc. are under review for possible downgrade. Last week, Moody’s downgraded units of Europe-based ING Groep NV to A1 from Aa3, giving them stable outlooks.”

Read the whole article

The states that regulate insurance companies do provide some protection for annuity owners. You can find out about your state’s insurance at www.nolhga.com

Here are some links to ratings agencies that rate insurance company financial strength

A.M. Best

Fitch, IBCA, Duff & Phelps

Moody’s

Standard & Poor’s

Weiss Ratings