Dr. Buzz Baker joined us on the show today to discuss his long career and studies of the aging process. He is currently serves as Director of the Center of Aging at McDaniel college and has been in the field since 1972. At McDaniel, the program is available for students perusing either an undergraduate and masters degree in many various career paths. There are topics touching on many aspects of the aging process in fields such as, biology, pharmaceutical, disease, care, spirituality, and many more.

Dr. Baker discussed how preventing health problems in midlife can lead to a healthier aging process. Devastating diseases such as dementia and Alzheimer’s cant not be predicted, but you can try to prevent them by staying healthy. Other key steps to a healthy old age are to avoid excesses, nutrition, calcium, maintaining blood pressure, weight control and cardio & strength training. These factors may not prevent all threats, but being healthy will help you stay healthy longer.

Steve had the opportunity to attend a major conference in Washington, D. C. with legislators.  Colin Powell was one of the speakers and he shared many great insights; including, his personal rules of leadership.

Colin Powell’s 13 Rules of Leadership

1. It ain’t as bad as you think. I will look better in the morning.
2. Get mad, then get over it.
3. Avoid having your ego so close to your position that when your position falls, your ego goes with it.
4. It can be done!
5. Be careful what you choose. You may get it.
6. Don’t let adverse facts stand in the way of a good decision.
7. You can’t make someone else’s choices. You shouldn’t let someone else make yours.
8. Check the small things.
9. Share credit.
10. Remain calm. Be kind.
11. Have a vision. Be demanding.
12. Don’t take counsel of your fears or naysayers.
13. Perpetual optimism is a force multiplier.

Today we keep with our usual theme of being an unusual financial radio show. Our interesting guest, Paul Carney joined us to explain his experiences dealing with dramatic traumas and crippling natural disasters. Of course our first topic we were curious about was the recent catastrophe in Japan. The earthquake/tsunami hit the people of Japan and people across the world were eager to help. Mr. Carney reminded us, however, that it is very important to consider the cultural differences in other societies when attempting to offer assistance. Many times helpers rush in without fully knowing or understanding the circumstances. Paul explained that is important to understand this to avoid further stress or other traumatizing experiences to the people that are in need of help. Cultural differences can range from Macro-Cultures (nations, countries, etc.) to Mico-Cultures (states, counties, towns, neighborhoods). It is vital to learn, understand and respect the culture of the people in need.

Mr. Carney explains how spectators and people who were not physically impacted by a disaster can be vicariously traumatized. People many times want to help in a situation but see many disturbing and damaging sites by doing so. Also, the media often spreads fear and traumatizing visuals to the public. There is a “ripple effect” when it comes to a tragedy. There is a point of impact which hits directly and then the effects slowly spreads to other areas, people and situations.

Paul Carney explained that people interested in helping or donating to people suffering from disasters can visit contact their local Red Cross facility or by looking up information on the FEMA website.

Delegate Justin Ready joined the show over the phone to give us an update on an important issue that we were discussing on the show with him last week. Delegate Ready explained a possible bill to give instate tuition breaks to illegal immigrants. Many people, including Delegate Ready, believe this is a bad idea and unfair to other college students, as well as those who have immigrated legally. It will also be very expensive to fund and could even increase tuition to both in-state and out-of state students . He explained that there is a petition currently circulating to oppose this bill. Go to www.mdpetitions.com to fight this decision, there is a target number of 200,000 signatures to make an impact.

It is important to take precautions in case a disaster impacts your family. Our advice, as always, is how you can be prepared financially.

1. Develop an EMERGENCY FUND. Set aside liquid, ready funds in an easily accessible account like a savings account. This can be helpful to quickly repair damages caused to your home from a natural disaster, or any unexpected financial emergency.
2. Keep cash on hand. It is important to have cash available in case of a disaster that may cause banks to be closed or a power outage that would prevent you from accessing accounts.
3. Maintain a list of all your accounts with the account number and company contact information.
4. Flood-proof important documents. Keep in a safe area in bags or another water-proof container.
5. Use cell phone and email as a back-up record keeper. Keep important phone numbers saved in your cell phone and copy vital information to your personal email for easy access away from home.
6. Be sure to have a fire proof filing system
7. Don’t give all account information/cash/credit cards to just one family member in the event of an emergency. Disperse funds and give cash to all members of your family incase you are separated for any reason.
8. Have an emergency credit card available with no balance and ready for immediate use.
9. Take updated “inventory” pictures of your home, property, valuables, etc. on a digital camera for records. 
10. Have an insurance policy review annually.

April 6^th, 2011

Segment I Guest: Jay Merwin, Estate Planning Attorney Bowie & Jensen

Segment II Topics: Top 10 Strangest Last Will & Testaments/Top Industries That Will Be Affected by NFL Lockout

Jay Merwin, an estate attorney at Bowie & Jensen explained the importance having of an updated will, designating power of attorney and creating a living will.  A will is something everyone should have to document you wishes in case of your death. Having a power of attorney gives authorization to someone you trust to act on your behalf in a legal or business matter, in case you are unable to do so. A living will includes instructions given by individuals specifying what healthcare actions should take place in the event that they are no longer able to make decisions due to illness or incapacity, a person is appointed to make such decisions on their behalf. These are all important precautions to take. Many people are reluctant to go through the process of estate planning. It is very important to do so and have your wills and other documents up to date. Don’t wait until you make your next big trip or make sure you will is updated, death or serious injuries are more likely to occur in every day travels than just on an airplane. Prepare yourself and your family before it’s too late. Even though it may be difficult to think about or discuss with your family, it is crucial to have these legal documents established. Young families need to remember that having a will also determines where your children will go if something were to happen to you and the other parent without the need of the court system. It is also important to title your assets correctly so that you funds are given to the places you want them to. This is an important reason why it is best to go to a lawyer to create your will and assist you with other important legal decisions. They can guide you through the process correctly and ensure that you are in good standing.

Beneficiary designations are important to be updated from time to time, especially after major life events such as, marriage, divorce, birth of children, etc.  Non-probate assets such as 401k policies, life insurance policies are instruments that need correct beneficiaries, but are not included in a will. Having an estate plan created for you allows them all of these instruments to flow and work together.

Powers of Attorney come into play immediately upon signing or upon any type of disability. Spouses usually name each other in order to sign for the other. But typically, powers of attorney are given when an individual is unable to voice their opinion or make decisions for their assets.

Recent change in the law was required because of a recent case where a person’s trustee stole assets, so a ramification was made to limit the duties and hold accountability. This will help prevent mishandling of assets by the person appointed as power of attorney.

Living Trusts are often stated in an individuals will name in case of death. Or it can be instated if a person is ill and does not want to handle their personal finances. This is transfer some or all of his property to a trustee, who holds that trust property for the benefit of the beneficiaries. The trustee has legal title to the trust property, but the beneficiaries have equitable title to the trust property. Appointing a trust for a vacation home or property that is a distance away from your residence is also an option, so they represent you if a decision needs to be made and you are unable to physically be there.

A Pet Trust ensures that your pet will be cared for in case of your death, you can name the person that you would like to look after your loved pet. 

Estate planning is an important part of financial planning to ensure that all your assets are set up properly, which is something that we work with regularly at Aquino & Wolpoff Financial Group, LLC. Knowing and understanding changes in laws and regulations is important. We can answer questions about these issues.

10 Strange Will and Testaments

1. Harry Houdini: Known master escapee and daredevil passed away in 1926 on Halloween. He promised his wife, Bess that he would contact her in the afterlife, using a pre planned ten digit secret message that only she would know. His last will and testament stated that a séance should be held each anniversary of his death.
2. Gene Roddenberry: The creator of Star Trek included instructions to have his ashes scattered via space satellite orbiting Earth in his last will & testament. The act was carried out in 1997.
3. Charles Vance Miller: Bequeathed a large sum up for grabs to any Toronto woman who could produce the most offspring in the decade following his death. Four winners emerged in a tie for nine children; each receiving about $125, 000. This wish became known as the “Great Stork Derby”.
4. Leona Helmsley: A real estate investor and hotel owner that was dubbed “The Queen of Mean” established a $12 million trust to her Maltese dog in her last will and testament. This was later overruled and reduced to $2 million dollars by a judge and the remaining balance was split between her two grandsons, on the condition that they visited their grandfather’s grave each year. 
5.  Eleanor Ritchey: The heiress to the Quaker State Refining Corporation left $14 million to her 150 stray dogs. When the last dog dies, the remainder was to go to Auburn University Research Foundation to research canine disease. 
6. Nina Wang: The richest woman in Asia left her entire estate valued at $12.8 billion to a charity that she and her late husband founded in 1988. After her death, her lover, Tony Chan, a fortune teller, married man and “opportunist” forged a fake will in the attempt to claim her fortune.
7. Dusty Springfield: The British singer, known for hits such as, “I Will Follow Him” made her cat priority in her last will and testament. Instructions stated that the cat was to be fed imported baby food and serenaded with Springfield’s songs. Additionally, the singer also arranged for the car to marry his new guardian’s pet cat.

Six Industries That Will by Hurt by the NFL Lockout:

1.       Beer & Beverage Industry (NFL official sponsor)

2.       Television Networks (Primarily, Direct TV because of the loss of their NFL Package)

3.       Vendors, Souvenirs & Tourism

4.       Video Games

5.       Food Industry

6.       Sporting Goods

March 23, 2011

Segment I Guest: Jimmy Schumacher, National Guard Recruiter and Army Veteran

Segment II Topic: Lessons Learned by the Actions of the Baby Boomers

We welcomed Jimmy Schumacher to the show! He is currently a National Guard Recruiter in Westminster, MD. He discussed the great benefits and opportunities that the National Guard offers, even if someone has no prior military experience. The National Guard is different than the Reserves because it is not attached to a specific branch of the military (Army Reserves, Navy Reserves, etc.). The National Guard is a state entry. Soldiers of the National Guard serve their home state and can be called to action by the State Governor or US President.

Sgt. Schumacher is a recruiter out of the Henry C. Evans Armory in Westminster. He was born and raised in Carroll County and is on a mission to better the lives of others in his community. There are many different types of people that can benefit from the National Guard. Many of his recruitments are fresh out of high school and looking for ways to attend school and create a job path. But some are in their mid 20’s or 30’s, with Master’s Degrees looking for new training and job skills. Age 35 is the maximum age that you can join the National Guard, the youngest is age 17, with parental consent. Once an individual is 18 years of age, he or she can join on their own.

To join the National Guard, you have to be prepared mentally and physically. You will attend the standard 9 week basic training. You will also have a job pick to chose an area of focus. There are many different jobs and skills that you can acquire. There are Military Police positions, Intelligence and career training for the workforce. The level of training that is available can earn high positions in various types of careers.

A detailed screening is done in order to enlist to make sure the candidate can succeed. A medical screening is done and certain condition can prevent you from eligibility, such as, asthma, serious previous injuries and other health issues. There is also a moral screening. The National Guard does not require a completely clean record, but no felonies are permitted and several types of misdemeanors will disqualify an offender from eligibility. There is also a written test that is administered to test mental capacity and comprehension.

Some of the major benefits of joining the National Guard are the many educational opportunities available. Members of the National Guard automatically receive 50% off tuition costs to State colleges and some private colleges. In addition, the Montgomery Bill kicks in $250+ per credit hour and other assistance, typically a National Guard soldier pays nothing for college. With the monthly drill pay, soldiers are basically paid to attend school while earning their degrees. 

Many parent and National Guard hopefuls have the same question. Will I, or my child, be deployed overseas? The answer is uncertain. Many times, the National Guard stays based in your state and/or country. But if your unit is called to action, there is always a possibility of deployment. The skills and training received will extensively prepare a National Guard soldier for this possibility.

Jimmy Schumacher is not only a National Guard recruiter, but he is also a decorated war veteran. After all the important information that he shared about the Guard, we wanted to hear about his experiences in the military. He explained that he started as an active duty Army soldier. After a not-so-impressive high school career, he did various jobs to earn a living. But at age 21, he decided he wanted to do more with his life. Jimmy explained that enlisting was the best thing he has ever done for himself. Not only has he received top-notch education and training, he has acquired 4 military specialty, Top-Secret Security Clearance, several prestigious recognitions and is currently working on his Master’s Degree, at no cost to him. He also explained how the Army allowed him to see the world. He had a tour in Korea, which is where he met his wife of 10 years. The beginning of his Army career took place in a fairly peaceful time in the world. After completing his Army requirements, he joined the National Guard. After the attacks on 9/11, he was deployed to various places in Iraq & Afghanistan for a year. On an anit-terrorism mission, he and his fellow soldiers captured terrorists that and detain in a jail in Baghdad. He explained that some of the terrorists complied when captured, but others were extremely dangerous and their mission was to kill you on the spot.

Sgt. Schumacher explained that although it can be a very scary and dangerous experience, he made many great lifelong friendships and has accomplished a lot because of his decision to enlist. There are a lot of great soldiers and Jimmy feels like the US should be proud of the men that they have protecting us.

Lessons Learned by Actions of the Baby Boomers

1. The stock market always fluctuates, there is nothing that is a guarnatee
2. Your home equity is NOT a personal ATM
3. Youth doesn’t last, but old age is manageable. Move more and eat less!
4. Live within your means. Establishing substantial savings and solidifying a financial portfolio is crucial