Nearing Retirement? Avoid These Common Mistakes

As Baby Boomers see retirement in their horizon, financial planners counsel against these common mistakes.


No current will. Even if you created a will when you were younger, it may be badly out of date as you approach retirement...and...not in synch with your wishes or circumstances. Update it.

Out-of-date beneficiary designations. Beneficiaries named in life insurance policies and retirement accounts must be up-to-date to avoid misunderstandings and possibly adverse tax consequences for your heirs.

Concentrated stock holdings. Whether through long association with a single employer or as owner of your own business, you may have a significant portion of your wealth tied up in a single stock. Nearing retirement, it's too risky to keep so many eggs in one basket. Diversify.

No excess liability insurance. Auto and homeowner's insurance policies offer liability protection if someone comes to harm on your property or in an accident involving your car. If claims exceed your policy limits, though, plaintiffs could come after your personal assets. Carry an excess liability, or "umbrella, policy, for added protection.

Emotional investing. Volatile financial markets can be unnerving, especially when you're close to retirement. Be patient, and hew to your well-grounded investment strategy...but...recognize that your stockbroker will never tell you, "When in doubt, get out" of the stock market.

No estate or tax planning. Many retirees craft an investment plan but overlook estate and tax planning. Start the process now if you haven't already, both to minimize tax bills for you and your heirs and ensure that your estate is distributed according to your wishes.

Source: The Wall Street Journal, March 8, 2008

Visual tour TOWN HOME RENTAL

Baggage Policies

Baggage Policy Changes

The following carriers have made changes to their checked baggage policies. Click on the airline below for further details. To stay updated with the current baggage policy as it is today, please visit the airlines website provided.

• Air Canada
• AirTran Airways
• American Airlines
• Continental Airlines
• Delta
• Frontier
• JetBlue
• Northwest Airlines
• United
• US Airways

Air Canada:

Air Canada has announced a new checked baggage policy for tickets issued on or after May 15 for travel on or after July 15, 2008. For those traveling before July 15, 2008 or have booked before May 15, 2008, the baggage allowance of 2 bags per person would still apply.

• Under the new policy, customers who purchase tickets on Air Canada which carry a cancellation penalty, may check one bag at no charge and a second bag for a $25 service fee. The fees are assessed each way and may be higher depending on weight and dimensions of the baggage.
• This policy applies for travel within Canada and between Canada and continental U.S. including Hawaii.
• Click here for complete details regarding the new baggage policy posted on carrier's Web site.

AirTran Airways:

AirTran Airways has announced a new checked baggage policy effective May 15, 2008.

• Customers may check one bag for free and a second bag for a $10 USD fee if paid through AirTran Airways' Online Check-in or $20 if paid at the airport, then $50 USD per bag thereafter. The fees are assessed each way and may be higher depending on weight and dimensions of the baggage.
• Click here for complete details regarding the new baggage policy posted on carrier's Web site. Note: Military personnel may check one duffel/sea bag in place of a 61-inch bag.

American Airlines:

American Airlines has announced a new checked baggage policy effective for tickets purchased on or after June 15.

• This policy applies for travel within the U.S. the U.S. Virgin Islands, Puerto Rico and Canada.
• Customers may check one bag for a $15 USD fee ($30 USD round-trip) and a second bag for a $25 USD fee ($50 USD round-trip). The fee may be higher depending on weight and dimensions of the baggage.
• Click here for complete details regarding the new baggage policy, including exceptions, posted on the carrier's Web site.

Continental Airlines:

Continental Airlines has announced a new checked baggage policy for certain Economy fare tickets that were purchased on or after April 5 for travel on or after May 5, 2008.

• This policy applies to travel within the United States, Puerto Rico, U.S. Virgin Islands and Canada.
• Customers may check one bag for free and a second bag for a $25 USD fee ($50 USD round-trip). The fee may be higher depending on weight and dimensions of the baggage.
• Click here for complete details regarding the new baggage policy posted on the carrier's Web site. Note: OnePass Elite members, SkyTeam Elite and Elite Plus members, Tickets issued on Y class of service, Continental Airlines Presidential Plus credit card holders, active military traveling on orders are not impacted by this policy change.

Delta:

Delta has announced a new checked baggage policy for domestic tickets traveling on or after May 1, 2008.

• This policy applies to domestic travel.
• Customers may check one bag for free and a second bag for a $25 USD fee ($50 USD round-trip). The fee may be higher depending on weight and dimensions of the baggage.
• The fee will be charged to passengers if their itinerary includes segments after May 1 regardless of when the tickets were purchased.

Note: SkyMiles Elite, and First/Business Class passengers are not impacted by this policy change.

Frontier:

Please be advised of the following baggage fee changes that Frontier has implemented effective Jun 10.

• Customers who purchase tickets for travel on or after June 10th will be charged a $25 fee for a second checked bag.
• Customers who have already purchased tickets before that date will not be affected. Our EarlyReturns® Summit and Ascent members and active duty military personnel will be exempt from this fee.
• The policy for pets traveling in the aircraft cabin will be discontinued effective June 10, but all existing reservations will be honored.
• Click here for complete details regarding the new baggage policy posted on the carrier's Web site.

JetBlue:

JetBlue has announced a new checked baggage policy that will take effect June 1, 2008.

• This new policy applies to customers traveling on/after June 1, 2008.
• Customers may check one bag for free and a second bag for a $20 USD fee ($40 USD round-trip). Subsequent bags will be assessed at $50 USD per bag. The fees may be higher depending on weight and dimensions of each baggage.

Northwest Airlines:

Northwest Airlines has announced a new checked baggage policy for those traveling within North America on or after May 5, 2008.

• This policy applies to tickets issued on/after March 29 for travel within North America on/after May 5.
• Customers may check one bag for free and a second bag for a $25 USD fee ($50 USD round-trip). For customers checking in three or more bags, the carrier will assess a fee of $100 per bag each-way. The fee may be higher depending on weight and dimensions of the baggage.
• Click here for complete details regarding the new baggage policy posted on Northwest Airlines' Web site. Note: Silver, Gold and Platinum WorldPerks® Elite customers, SkyTeam Elite customers, and those booked in first or full fare classes (Y or B) will not be impacted by this policy change.

United

United has announced a new checked baggage policy for nonrefundable domestic economy tickets that were purchased on or after February 4 for travel on or after May 5, 2008.

• This policy applies to travel within the United States, Puerto Rico, U.S. Virgin Islands and Canada.
• Customers may check one bag for free and a second bag for a $25 USD fee ($50 USD round-trip). The fee may be higher depending on weight and dimensions of the baggage.
• Click here for complete details regarding the new baggage policy posted on United's Web site. Note: Customers with Mileage Plus Premier status or greater, Star Alliance Silver status or greater, government fares, military fares, standard Award Tickets, first and business class award tickets, or first and business class upgrades granted prior to check-in are not impacted by this policy change.

US Airways:

US Airways has announced a new baggage policy for tickets purchased on or after February 26 for travel on or after May 5, 2008.

• The new policy applies to all flights within the United States, to/from Canada, Latin America, the Caribbean, and Europe.
• Customers may check one bag for free and a second bag for a $25 USD fee ($50 USD round-trip). The fee may be higher depending on weight and dimensions of the baggage.
• Click here for complete details regarding the baggage policy posted on US Airways' Web site. Note: Dividend Miles Preferred members (Silver, Gold, Platinum and Chairman’s Preferred), confirmed First Class and Envoy passengers (at time of check-in), Star Alliance Silver and Gold status members, active military personnel in uniform with ID, unaccompanied minors, or passengers checking personal assistive devices are not impacted by this change.

HURRICANE SAFETY TIPS

HURRICANE SAFETY TIPS
	Make sure you have a full tank of gas before a storm arrives.
	Store a crate in your trunk with emergency supplies: · a first aid kit · duct tape · jumper cables for a dead battery · one or two blankets · a flashlight · bottled water · some sealed, shelf-stable food (like energy bars) · some basic tools like a screwdriver and pliers · a couple of brightly colored cloths to tie on your rear-view mirror to signal for help if you need it
	Make sure you have a good spare tire.
	If you're evacuating, bring your (fully charged) cell phone.
	If you're evacuating or returning home after a hurricane, avoid driving through water. The average car can be swept off the road by as little as 12" of moving water. According to the National Hurricane Center, more than half of all hurricane deaths in the last 30 years have resulted from inland flooding. Of those deaths, one in four was someone who drowned in her car. Find an alternate route.
	If your vehicle stalls in deep water, you may need to restart the engine to make it to safety. Please know, however, that restarting may cause severe damage to your engine. If you can't restart your vehicle and you become trapped in rising water, IMMEDIATELY ABANDON IT FOR HIGHER GROUND. If you're unable to get out of the vehicle safely, call 911 or get help from a passerby or someone standing on higher ground.
	After you and your vehicle are out of deep water and in a safe area, depress your brakes slowly several times to help dry them out.

And remember, if you're evacuating an area and leaving your car behind, be sure it's not left in a low-lying area prone to flooding. Rising water can seep in and damage your vehicle.

June Miami Events

7 - June
Sesame Street Live (American Airlines Arena - FL)
Sesame Street Live (American Airlines Arena - FL)
Florida Marlins (Dolphin Stadium)
Stevie Nicks (Hard Rock Live-Hollywood)
Miami Hurricanes Baseball (Mark Light Field)
Festival Yachad (Fillmore Miami Beach at Jackie Gleason Theater)

8 - June
Sesame Street Live (American Airlines Arena - FL)
Florida Marlins (Dolphin Stadium)
Sesame Street Live (American Airlines Arena - FL)
Miami Hurricanes Baseball (Mark Light Field)
Steely Dan (Hard Rock Live-Hollywood)

9 - June
Florida Marlins (Dolphin Stadium)
60's Invasion (Dolphin Stadium)
Vampire Weekend (Fillmore Miami Beach at Jackie Gleason Theater)

10 - June
Florida Marlins (Dolphin Stadium)

11 - June
Florida Marlins (Dolphin Stadium)
Ladytron (Studio A)

12 - June
Florida Marlins (Dolphin Stadium)

13 - June
Jesus Christ Superstar (Broward Center Au Rene)
Eddie Izzard (Fillmore Miami Beach at Jackie Gleason Theater)
The Cure (Bank Atlantic Center)

14 - June
Go, Diego, Go Live! (Ziff Ballet Opera House-Adrienne Arsht PAC)
Eddie Izzard (Fillmore Miami Beach at Jackie Gleason Theater)
Jesus Christ Superstar (Broward Center Au Rene)

15 - June
Go, Diego, Go Live! (Ziff Ballet Opera House-Adrienne Arsht PAC)
Jesus Christ Superstar (Broward Center Au Rene)

17 - June
Jesus Christ Superstar (Broward Center Au Rene)

18 - June
Less Than Jake (Revolution)
Citizen Cope (Culture Room)
Jesus Christ Superstar (Broward Center Au Rene)

19 - June
Cyndi Lauper (Sinatra Theatre-Bank Atlantic Center)
Rancid (Revolution)
Jesus Christ Superstar (Broward Center Au Rene)

20 - June
Celia Cruz (Knight Concert Hall-Adrienne Arsht PAC)

21 - June
Arthur Abraham (Hard Rock Live-Hollywood)
Celia Cruz (Knight Concert Hall-Adrienne Arsht PAC)

22 - June
Raheem Devaughn (Fillmore Miami Beach at Jackie Gleason Theater)

23 - June
Modest Mouse (Fillmore Miami Beach at Jackie Gleason Theater)

24 - June
Florida Marlins (Dolphin Stadium)

25 - June
Florida Marlins (Dolphin Stadium)

26 - June
Florida Marlins (Dolphin Stadium)

27 - June
Rooney (Revolution Live)
Florida Marlins (Dolphin Stadium)
Tantric (Culture Room)
Celia Cruz (Knight Concert Hall-Adrienne Arsht PAC)
Rooney (Revolution)

28 - June
Akon (Bank Atlantic Center)
Florida Marlins (Dolphin Stadium)
Andrew Dice Clay (Parker Playhouse)
Wisin y Yandel (American Airlines Arena - FL)
Professional Rodeo (Davie Arena)
Celia Cruz (Knight Concert Hall-Adrienne Arsht PAC)

29 - June
Florida Marlins (Dolphin Stadium)

30 - June
Florida Marlins

The Housing Bust Is Over

By Dr. Steve Sjuggerud

Don't believe all the gloom and doom you read...
The U.S. housing bust may be just about over. We should be darn close to the bottom... possibly within one year of it.
You probably don't believe me. That's okay. I'm used to being the contrarian – it's a position I prefer to be in actually. But bear with me, and at least hear me out... Today, I'll share with you two simple facts that explain where we are now in housing and why we could be close to the bottom. Let's get right to it...
1) Houses are affordable again.
You may be flabbergasted to hear this... But U.S. houses are affordable again. Since last summer, the change has been extraordinary. The typical mortgage payment on the typical home in America now is 20% cheaper than it was less than a year ago. Let me explain:
Last July, the median U.S. home would have cost you about $230,000. And you'd have paid about 7% in interest on your mortgage. So that's a $1,200 monthly mortgage payment on that house (assuming a 20% down payment).
Today, the median home price is $200,000 – a $30,000 difference from last summer. And mortgage rates are down to 6%.
Between the lower price and the lower mortgage rate, you'd be paying less than $1,000 a month on your mortgage now – for the same house that would have cost you $1,200 last summer!

Most people shop for homes based on their mortgage payment... They ask, "How much can I afford each month?" And then they look for homes that will give them a payment they can afford.
So the big question is: Can the typical household afford the typical mortgage payments on a typical home? Last summer, the answer was no. But now, the answer is yes. Take a look:
Already? Yes! Houses are affordable again...
You may be surprised to hear it, but thanks to lower mortgage rates and lower home prices, homes are affordable... They're just as affordable now as they were right before they boomed in the 2000s.
2) We've paid our dues, pricewise.
You may also be surprised to learn home prices in general don't go up that much... The median U.S. home price has only risen at about 1.5% per year since the 1970s, after you subtract inflation. That's not much of a gain. (Even that 1.5% price gain is overstated... Homes have gotten much larger since the 1970s.)
The annual increase in price has been consistent... Whenever prices run significantly above that trend, like in 1978 or 1987, they run significantly below that trend three to four years later.
Have we paid our dues yet?
Cycles happen. You can see it easily in this chart. You can also see in 2005, prices ran farther above trend than any time in history. And now, in 2008, prices have fallen farther below trend than any time in history.
Could we see another year or two below trend? Of course. But I expect that we're in the process of finishing "paying our dues." We'll return to the trend.
In sum... you may be surprised to hear it... but
1)U.S. homes are once again affordable.
2)We've just about "paid our dues" pricewise.

Don't get caught up in the gloom and doom. Stick with the simple facts.
These indicators are pretty simple. They show how the worst of the housing bust could be behind us already.
Good investing,
Steve