Dr. Rebecca Moryl and Psych Department Host "How to Financially Support Yourself After Graduation"

As students approach graduation and more full-time job offers, salary negotiations begin to play a huge role into future financial stability. It’s all about knowing your worth and doing your research beforehand.

Moryl also stressed the lifetime availability of the Career Center for Emmanuel students. There are many pay scale salary surveys online that provide information on what someone of a certain major, age, and level of experience can expect to make.

The components that go into financial freedom are expansive. Start small as any amount saved contributes to the overall end goal. Just as many students have moments of thinking they won’t make it to graduation day for whatever reason, they usually do. Everything is attainable with organization and goal setting.

The full PowerPoint presentation and more financial resources from the event can be found here.

Merisa Boyd ’18 is a Staff Writerfor The Hub. She can be contacted at boydm@emmanuel.edu and on Twitter @merisafaith.

Road to financial freedom

Up to this day, I have been noticing that majority of investors are clueless as to what exactly they want to achieve or accomplish.

They are inspired and guided only by the beautiful–but very dangerous–thought that one can possibly “become a large winner” and have financial freedom. Having been in their place before, I know they have no idea exactly just how.

Even among those who know how to use technical or fundamental analysis, or those who are supposedly adept in the method of “forecasting market trends and timing or measuring a stock’s intrinsic value,” there are still those without any particular goal except make a killing and become rich.

KIUNGA: Create safety nets to survive beyond business collapse

According to Clason, the road to personal financial success starts by taking one simple but very important step — setting aside and investing a portion of your income. It is what modern proponents personal financial freedom promote as paying yourself first. And as US billionaire Warren Buffet says “Don’t save what is left after spending, spend what is left after saving”.

Normandale Community College to host financial literacy program

The Normandale Economics Institute will host its annual financial literacy program this week in Bloomington.

The presentations are 9:30-10:50 am and 12:30-1:50 pm Tuesday, April 4, in the Kopp Student Center Garden Room of Normandale Community College, 9700 France Ave.

The keynote speakers are Brett Machtig and Josh Gronholz from Capital Advisory Group Advisory Services. Machtig and Gronholz, who will speak at 9:30 am, will present “A Twenty-Something’s Guide to Financial Freedom.”

There will also be a presentation on “Planning and Investing to reach Financial Freedom” at 12:30 pm, presented by the NEI, Phi Theta Kappa and Normandale Business Club.

Info: bit.ly/april417

GuidedChoice Celebrates Nearly 20 Years, Looks Back at a Legacy of Offering Clients Financial Freedom

LAS VEGAS, NV–(Marketwired – Mar 19, 2017) – (NAPA 401(k) Summit, Booth 406) – GuidedChoice, a digital retirement advisor, is celebrating its nearly 20 year legacy of bringing people financial freedom at the NAPA 401(k) Summit in Las Vegas today. A proven and trusted partner that manages over $13 billion in assets, GuidedChoice brings financial freedom to its clients while maintaining its independence as a company. GuidedChoice provides 3(38) fiduciary protection and because of its open architecture, has the flexibility to customize solutions for plans based on almost any investment strategy and options.

While most robo-advisor services were born in the last few years, GuidedChoice started the digital retirement advice industry with the first Prohibited Transaction Exemption nearly 20 years ago. GuidedChoice was founded on the ethos of bringing financial freedom to everyone and continues to deliver on that mission today.

Sherrie Grabot, CEO and founder of GuidedChoice and former ERISA Advisory Council Chair, identified a need in the marketplace for an independent, unbiased retirement planning resource that truly works in the clients best interest. GuidedChoice achieves this by always first understanding a clients goals, providing fee transparency and clarity at all times, and habitually advising in what is best for the client in reaching their goals rather than what is best for the advisor.

My vision was to bring to the masses the kinds of processes and services provided to senior management so that everyone can be empowered with financial confidence to help them make smarter decisions about their financial future, said Grabot. Thats exactly what we did, and have been doing, for nearly 20 years.

Through specific advice and scenario planning, GuidedChoice is solely focused on helping individuals make the right investment decisions to reach their long-term retirement income goals. Accomplishing this starts with having people save as much money as they can as soon as they can. By doing so, GuidedChoice has seen success, with managed account participants increasing savings rates by up to 110%*. The companys proprietary process, designed by Dr. Harry Markowitz, Nobel Laureate for Modern Portfolio Theory, reflects what 60 percent of participants prefer: less risk over more reward. GuidedChoice has proven how effective its proprietary process is through multiple downturns, including the 2008 financial crisis where the Samp;P 500 index lost 37 percent of its value and other 401(k) accounts lost over 25 percent of their value**. Yet the largest decline in any GuidedChoice portfolio was just 11 percent.

Another distinguishing feature of Guided Choice is its commitment to plan advisors, a feature that makes the company stand out from the crowd of robo-advisors.

We have been committed to plan advisors success for as long as we can remember, and view our relationship with them as a true partnership. We can be flexible with your investment strategy and options, while also supporting you from a 3(38) fiduciary liability perspective, continued Grabot. GuidedChoice helps you mitigate your clients risk, maintain impartiality, and even master new technology and trends.

GuidedChoice has been entrusted to manage over 13 billion dollars in assets without the oversight of any parent companies, equity funds, strategic partners, or payment for recommending investments — a feat that is almost unheard of in the industry and speaks to its promise of always putting its customers first. To learn more about the companys rich history and optimistic future, visit booth 406 at the NAPA 401(k) Summit or GuidedChoice.com.

*GuidedChoice 2012 managed account study.
**$200,000 in account balances had an average loss of more than 25 percent, EBRI. Impact of the Recent Financial Crisis on 401(k) Account Balances. EBRI Issue Brief #326, February 2009.

Established in 1999, GuidedChoice has been helping Plan Advisors, Plan Sponsors, Recordkeepers, Small Business Owners, and Plan Participants reach their retirement income goals, whether personal or professional. GuidedChoice is an independent advisory firm focused on retirement, and enabling people to become more confident in their future by helping them make better financial decisions, providing them with an understanding of what its going to take to reach their goals, and giving them a personalized actionable plan to get there. Fueled by a powerful mission, the belief in financial freedom for all, GuidedChoice has no affiliations or strategic partnerships with any institutional investor or venture capital firm, nor with any investment managers or brokerage firms. For more information, please visit www.guidedchoice.com.

10 things to remember in the new financial year

Fiscal year 2017 has just hung up its boots, and financial year 2018 is upon us. Its time to review the year gone by. Fiscal-end is a great chance to review your past performance and make new financial resolutions for the financial year. Its the best way to achieve financial stability and sticking to your goals.

Let us ask the following important questions and understand few tips and tricks before you plan your finances in this new financial year.

1 Get an Aadhaar Card; and if you already have one, link it to your Income Tax account

New government rules mandate an Aadhaar card to file income tax returns, and if you dont have one, or if its not linked to your income tax account by July 1, 2017, you will not be eligible to file tax returns. The government has made the Aadhaar card mandatory for several schemes, and opening bank accounts, so it would be wise to get one.

2 Restructure your existing home, car, or personal loans

After demonetization, several banks have cut the interest rates for home, car, and personal loans. This would be a good time to submit the required documents to restructure your loans to reduce your interest outgo on them. There is certain protocol to do this, so visit your bank or financial services provider now.

3. Map your finances, and plan!

Planning your finances will lead to the ultimate freedom – financial freedom. For instance, let’s say someone gives you Rs 100 crore, what do you propose to do with it? Will you continue at your job? Maybe not. The point is, once your basic and luxury needs are taken care of with the bounty, what are you doing to do to make sure you dont run out of money quickly? Once the why of investing is clear, create a roadmap to plan your finances. No one is really going to just hand you Rs 100 crore, so you will have to make do with whatever you earn and invest it effectively so that you dont run out of funds.

4. What are you investing for?

Having understood the “why of investing” and making it an integral part of your financial planing, the second important question you need to ask yourself is – what exactly you are planning and investing for? Is it for your retirement corpus or for your children’s education or to buy a house, car, and so on. This will help you set the right targets.

5. When and how to invest?

Once the goals are set, and youve quantified the amount you need to set aside to invest to achieve these targets, the next step is when and how to invest. The best time to start investing was the day you received your first salary. the next best? Today! You can read my earlier columns here to find out how to initiate investments in various asset classes to reach your financial goals.

6. Do you have a contingency fund?

Have you ever created a corpus for a rainy day? There could be a medical emergency or you may lose your job. Make sure you take immediate steps to build cash reserves today. A contingency fund will let you have easy access in the case of an emergency. It will also ensure you dont disturb your financial goals by reaching into other investments like provident fund, fixed deposits, and mutual funds.

7. Evaluate your financial performance of the previous financial year

It is a good practice to do a self appraisal to review your financial standing from time to time. Ask these important questions before you plan for the next year.

gt; Have you paid your EMIs and other commitments like premium, fees, on time? Were there any late payments?

gt; Did you achieve your financial objectives set out for the previous fiscal?

gt; Was there any unexpected expense and were you ready for that?

gt; How much returns have you made on your investments; did you exceed your target or fell short?

gt; Did you have any extra savings, if any, was it lying in a savings bank account or did you invest it smartly?

gt; Have you taken a fresh loan, if yes, was it a planned expense or towards a sudden need to buy an item?

Once you cross-examine yourself, it will make you think about your financial goals and help you re-plan strategies for the next year.

8. Prepare a budget: monthly and annual

Based on your last years financial performance and according to your financial planning, prepare a budget – monthly and annual. The objective is to plan income and expenses, and make sure everything goes according to plans. Once done, make sure you keep reviewing it on a regular basis.

9. Challenge yourself to increase your percentage investments this year and do systematic planning:

Take an oath to increase your savings percentage this year and do a proper categorisation of your investment plans. Invest the right percentage, that is, allocation as follows:

gt; Investments for tax saving and tax optimisation

gt; Secure yourself and validate your existing policies ie life, health, and general insurance

gt; Increase your allocation in mutual funds and equity

gt; Start systematic investment planning or increase the existing allocation

gt; Check your retirement and child education planning to make sure the investments are adequate inflation adjusted.

10. Make charity a part of your financial planning

We owe our society but most of us dont know what to give where and when to start. To change this, make charity a part of your financial planning, it will then be taken care of easily. Make giving to charity a part of your financial planning goals this year.

Financial Freedom Fighter

By Stephanie Case

A few weeks before Donald Trump was inaugurated as president, Forbes asked some of its 30 Under 30 honorees in the fields of law and policy to name one thing they would ask of the new commander-in-chief.

“End the war on women’s health and, instead, use those resources to fight violence against women,” answered Venice attorney Sonya Passi.

While at UC Berkeley School of Law, Passi founded the Family Violence Appellate Project, which provides free legal services for victims of domestic violence. Last year she launched FreeFrom, an innovative Venice-based nonprofit that goes beyond emergency shelter to help victims build financial stability so they can afford to leave toxic relationships for good.

According to a 2010 study from the Center for Disease Control and Prevention, one in every four American women will face severe physical violence by an intimate partner in her lifetime.

“When you talk about one in four, that means your neighbors, someone in your family, someone you went to high school with,” says Passi. “It hits close to home.”

Yet, while domestic violence is embedded into the fabric of our communities, the truth of survivors’ experiences and the factors that keep them in danger, Passi says, remain largely misunderstood. Partners who endure abuse are frequently blamed and reduced to stereotypes: the pushover, the hopeless romantic, the exaggerator.

“The myth is: survivors just stay because they’re weak; they stay because they’re in love; they stay because it’s not that bad,” says Passi. “But the No. 1 reason survivors say they stay in abusive situations is because they can’t afford to leave.”

For most victims, no matter their tax bracket, safety comes at a very high a price tag.

“A lot of people think [being trapped in a violent relationship] is a low-income problem. That is not true,” explains Passi. “They think, ‘Women from wealthy communities can afford to leave.’ But what is so often the case is the woman in that wealthy community has not a penny to her name. … I meet so many survivors who were the sole breadwinner, and yet they never had more than a dollar in their pocket because the abuser would pick up their paycheck and control their wages.”

Financial abuse — blocking a partner from earning or accessing money — occurs in the overwhelming majority of domestic violence cases, Passi attests. It manifests in a variety of forms: pressuring the partner into being a homemaker; physically assaulting them for trying to open a checking account; stirring up trouble at their place of work, causing them to lose their job; committing credit fraud against them.

In one case, Passi recounts, an abuser surreptitiously took out more than 50 magazine subscriptions in his wife’s name but had the issues delivered to a random address, where they sat unread. In three years’ time, he’d racked up $30,000 in debt under her name and never paid off a cent,crippling her chances at financial autonomy should she dare to leave.

“It makes sense,” explains Passi. “Domestic abuse is about control, and the way to take away someone’s freedom is to take away their financial freedom.”

For survivors who do leave, it’s not cheap.

“When you think about picking up and completely relocating, you’re not only talking about breaking a lease,” Passi says. Securing a new apartment means a security deposit, plus first and last month’s rent — that is, if your partner hasn’t tanked your credit score, shattering any good standing with a potential landlord.

“You leave with as much as you can carry; maybe that’s a whole carload, and maybe that’s whatever you can hold in your hands,” Passi says. If you flee on foot, she adds, that could mean buying a house’s worth of new furniture, new clothes, and a new vehicle. If your abuser installed tracking technology on your cell phone or laptop, you may need to buy new electronics.

If that shopping haul doesn’t sink you, legal costs might: filing a restraining order, hiring a divorce lawyer, waging a custody battle. The costs of mental health care to help survivors and their children process the trauma of the abuseadd up, too.

“Domestic violence survivors spend probably every last dollar they have trying to stay safe,” says Passi.

Once that last dollar is spent, many live out of their cars or take refuge on the street; domestic violence is a leading cause of homelessness in US women and children.

In a cruel irony, this abuse-induced poverty often sends children back into the care of their violent parent. When deliberating custody cases, “judges are trying to figure out: who can actually feed this child? Who can keep this child safe financially? So, frequently, they end up giving custody to the abusive parent,” Passi says.

To Passi, these cracks in the legal system –allowing survivors to flail financially, and abuse to go unchecked –are unacceptable. She’s rallied against them since she was 16 years old, spearheading her all-girl prep school’s Amnesty International club and organizing annual domestic violence awareness weeks. As an undergraduate at Cambridge University, she coached her fellow classmates on the signs of partner abuse. When it came time for her to apply to Berkeley Law, she spent three sleepless nights pouring over her personal statement, then, in a flash of inspiration, churned out an impassioned poem, with the lines: “Woman is born free and nowhere must be in chains.”

Now, half a decade later, Passi works full time on FreeFrom from her Venice home-turned-office. She and her tiny legal team help women in New York and California file lawsuits against their abusers, arguing for financial compensation for lost wages, medical expenses and relocation costs. Beginning this winter, she’ll also travel up and down the Pacific Coast, mentoring survivors on how to launch their own businesses and freelance careers so they never have to look to a partner for money again.

In her Los Angeles program, which launched this January, Passi coaches 15 women on the ins and outs of entrepreneurship — things like accounting, sales and marketing, customer acquisition, social media, branding,and even building confidence.

In just the first three months, the women under her wing are already immersed in their new projects.

One survivor created her own beauty venture, buying name-brand makeup products wholesale, then selling them door to door. She’s sold lipsticks at the bus stop and eyeshadow palettes at the doctor’s office, never wasting an opportunity to acquire a new customer.

Another survivor — a former personal trainer –is starting her own morning yoga, meditation and aerobics classes for fellow residents at her transitional housing unit, charging $5 a week.

Being your own boss makes logical sense for many survivors; those hiding from their abusers can feel vulnerable about networking on LinkedIn or being featured on a company’s staff website.
It also provides a loophole from having to face employers that may see their experience as undesirable.

“If you apply for a job and it comes up in the job interview that you’re a survivor, it doesn’t help you — it harms you,” says Passi. “Conceptually, it makes no sense. How can you be weak if you’ve survived all of this?”

Passi says that in building their own businesses and becoming financially independent, survivors are empowered to do exactly what their abusers told them they could not: stand on their own two feet.

“The message of the abuse is: ‘You are nothing without me,'” Passi says. “Our message is: ‘You are everything you will ever need.'”

For more information or to contact FreeFrom, visit freefrom.org