01 Apr 2014

Turning Sales into Retirement

By Ginny Grimsley

3 Steps for Turning a Real Estate or Business Sale
into the Ideal Retirement
Financial Experts Share Common Mistakes & How to Avoid Them

Throughout life, we encounter a number of "financial impact points" -- pivotal events with the potential to make our dreams come true, say financial advisors Chris Snyder and Haitham "Hutch" Ashoo, co-authors of "Exiting Strategies: The CEO's Seven Critical Steps To Cashing-Out of a Business, Managing and Preserving Wealth."

"The sale of a business or real estate is one of those," says Chris Snyder, co-founder with Ashoo of Pillar Wealth Management, (www.pillarwm.com). "With the right planning, it can become your ideal retirement."

Unfortunately, sellers often make fundamental mistakes: They underestimate how much money they'll need for their retirement; they overvalue their business or property; and they often fail to properly invest the proceeds in a diversified portfolio of equities, bonds and money markets for income.

How can you turn your business or property sale into your ideal retirement? Snyder and Ashoo offer these tips:

1.  Determine the retirement lifestyle you desire, and how much money it will cost.

If you don't know how much money you'll need, you can't identify how much you need to net from the sale, Ashoo says.
"How many homes will you have? Do you see yourself traveling? Creating a charitable organization?"

Create a detailed list. How much money will it cost you each year? If you retire at 55 or 65, odds are good you'll enjoy a 30- to 40-year retirement.How much will you need for that length of time?

"When you meet with your wealth manager, insist on running that number through 1,000 different 'launch' scenarios - what we call a 'space shuttle' analysis - to test whether it will meet your expenses under a wide variety of market and world conditions," Ashoo says.

"You can't rely on an Excel sheet analysis based on fixed rates of return and fixed expenses for the rest of your life. It's a sure way to financial disaster because there's no such thing as zero risk."

2.  Get an objective valuation of your business or real estate.

Very often, Snyder says, he and Ashoo work with clients who have a vastly inflated idea of how much their business or property is worth. When they decide to sell, they either can't because no one will pay what they're asking, or they get far less than they expected.

"People often attach an emotional value to the asset, particularly a business or legacy real estate," Snyder says. "Hire a merger and acquisition professional to provide you with a real market valuation for your business, or a real estate appraiser to do the same for property."

If the value isn't where it needs to be, you may need to make some lifestyle changes or hold onto the asset longer.

Another caution: "If you performed step 1 thoroughly and you are confident you need $15 million for your retirement and someone offers you $20 million, take it," Ashoo advises. "Don't hold out for $23 million just because you think that's what it's worth."

3.  Invest the proceeds prudently and in a way that will generate income.

Once your real estate or business is sold, you need to build a diversified portfolio of equity, bonds and money markets that will balance your risk and generate an income, Snyder says.

"Modern portfolio theory holds that 93 percent of the return on your investment is based on your mix of these asset classes," he says
Adds Ashoo: "But prudent investing entails not accepting more risk than is required to achieve your retirement lifestyle." Don't rely on a simple risk questionnaire to make that determination for you, the two say.

Again, have your wealth manager run your portfolio through a "space shuttle'' analysis to test how it will perform under many different conditions.

About Chris Snyder and Haitham "Hutch" Ashoo

Chris Snyder and Haitham "Hutch" Ashoo are co-founders of Pillar Wealth Management, (www.pillarwm.com), of Walnut Creek, Calif., and co-authors of numerous published works including  "Exiting Strategies: The CEO's Seven Critical Steps To Cashing-Out of a Business, Managing and Preserving Wealth," available as a free download at their website. The two specialize in customized wealth management advice to affluent families. Their unique five-step consultative process for new clients ensures they have a deep understanding of clients' goals. The two have a combined 51 years of experience.

31 Mar 2014

HILLTOP CAMPUS VILLAGE TO HOST FIRST NETWORKING EVENT

By Scott Tunnicliff
Joins us for Hilltop Campus Connection

What: Hilltop Campus Connection Networking Event

When: Thursday, April 3, 2014 - 4:30 to 7:00 p.m.

Where: Katie McButts, 1516 Harrison St., Davenport Iowa

Hilltop Campus Village, an Iowa Main Street Community is currently in the midst of successfully reestablishing itself as a vibrant neighborhood offering shopping, dining and entertainment, is hosting its first networking event for the community. Their goal is to not only support and encourage continued commercial growth, but also to connect businesses with local residents, students, area employees and volunteers as a way to promote a more livable "We know a tightly knit business and residential community is extremely important in the face of recent growth and future development planned for the Hilltop Campus Village neighborhood," according to Hilltop Campus Village Director, Scott Tunnicliff. "We believe this event will help to acquaint our local businesses and residents through networking and sharing of information in a casual, fun atmosphere."

The HILLTOP CAMPUS CONNECTION networking event is set for Thursday, April 3, from 4:30 to 7 p.m. at Katie McButts, 1516 Harrison Street. Recently renovated areas of the Katie McButts building also will be open for tours.

Baked goods and pizza by the slice will be offered for sale by the newly established Eastside Bakery. Cash Bar will be available staffed by Local Celebrity Bartenders!

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31 Mar 2014

Molly McDonnell to participate in Hawkeye Caucus

By Lin Larson

IOWA CITY, IA (03/31/2014)(readMedia)-- Molly McDonnell, a native of Davenport, IA, is one of approximately 60 University of Iowa students to participate in the 2014 Hawkeye Caucus, held on April 2 from 10 a.m. to 2 p.m. at the Iowa State Capitol in Des Moines.

The annual Hawkeye Caucus is a major gathering of UI students, university leaders, and state legislators, demonstrating the university's commitment to statewide service. The event connects UI students with state leaders while showcasing the people and programs from the UI that are making an impact across the state.

31 Mar 2014

Underground Railroad at the Moline Public Library

By Jennifer Christiansen

Dr. Arthur Pitz will discuss slavery and the struggle for freedom in his presentation The Underground Railroad on Tuesday, April 8th at 7:00 p.m. at the Moline Public Library (3210 41st Street).  This program is free and does not require registration.

The Underground Railroad is presented as part of the six-week series Created Equal and Changing America, which explores our nation's civil rights history through film, exhibition, and presentations.  More information about the series can be found at molinelibrary.com/createdequal or by contacting the Moline Public Library at 309-524-2470.

The Underground Railroad wasn't a railroad and it wasn't underground, but it had "conductors" and hiding places.  It was hazardous to participate; nonetheless, there were a significant number of abolitionists who risked breaking this law.  This area saw participants involved in aiding fugitive slaves escape to freedom. Dr. Pitz will discuss how much we know of this railroad in our vicinity, how it worked, and its significance.

Historian and Professor Dr. Arthur Pitz has taught extensively throughout the Quad Cities for over 40 years.  He received his PhD in U.S. History from Northern Illinois University.  In 2000, he was the first ever recipient of Black Hawk College's Diversity Award and in 2009, was appointed guest curator by the Putnam Museum to create the exhibit Davenport's Civil Rights Movement, 1945-1974.

Created Equal: America's Civil Rights Struggle is made possible through a major grant from the National Endowment for the Humanities, as part of its Bridging Cultures initiative, in partnership with the Gilder Lehrman Institute of American History.

Changing America is presented by the Smithsonian's National Museum of African American History and Culture and the National Museum of American History in collaboration with the American Library Association Public Programs Office. The traveling exhibition is made possible by the National Endowment for the Humanities: Exploring the human endeavor.

Local support for Created Equal and Changing America has been provided by Friends of the Moline Public Library, WQPT, and The Moline Dispatch/Rock Island Argus/QCOnline.

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31 Mar 2014

Lt. Gov. Reynolds to lead trade mission to Thailand

By Office of the Governor of the State of Iowa

Reynolds to join Iowa Soybean Association on trade mission to encourage the purchase of Iowa soybeans, soymeal and other Iowa-made products

(DES MOINES) - Iowa Lt. Gov. Kim Reynolds, accompanied by Gov. Terry Branstad, Iowa Soybean Association (ISA) Director and soybean farmer from Maxwell, Iowa, Grant Kimberley, today announced that she will lead a trade mission to Thailand to encourage the purchase of Iowa soybeans, soymeal and other Iowa-made products. The trade mission was organized by ISA. The lieutenant governor and the Iowa delegation will depart Saturday, April 5, 2014, and will return Saturday, April 12, 2014.

"Last year, Iowa exported $5.6 billion in oilseeds and grains, and with new markets opening up in Asia, we want to encourage those markets to buy Iowa-grown soybeans and other Iowa-made products," said Reynolds. "Thailand, with a population over 69 million, has the largest and most sophisticated soy food industry in Southeast Asia. With Iowa producing more soybeans than most countries in the world, there is tremendous potential to increase Iowa's exports."

VIEW THAILAND MARKET SNAPSHOT

The Iowa delegation will travel to Bangkok and Nakhon Rathasima, Thailand, for three days of meetings with industry leaders, site visits to processing facilities and feed companies, and talks directly with potential buyers. Reynolds will be accompanied by Kirk Leeds, CEO of the Iowa Soybean Association, and Brian Kemp, ISA President and farmer from Sibley, Iowa.

"With 95 percent of the world's consumers residing outside the United States, Lieutenant Governor Reynolds and I understand the importance of creating and fostering global partnerships to increase economic development and job creation in Iowa," said Branstad. "With one in five Iowa jobs depending on international trade, Lieutenant Governor Reynolds and I are committed to promoting and growing Iowa's trade reach beyond our domestic borders."

Over the past three years, the Branstad-Reynolds administration has organized and led trade missions leading to impressive economic development in the state. Since January of 2011, the Iowa Economic Development Authority has assisted foreign direct investment projects that are expected to result in the creation of nearly 1,000 jobs and over $2 billion in capital investment for Iowa.

The visit to Thailand represents an important investment in Iowa's soybean industry.

"According to the 2012 Census of Agriculture report, at more than $30 billion, Iowa ranks second nationally for the total value of ag products sold, representing both crops and livestock and exports represent an important component. These trips are truly an investment; for our farmers and our state," says Kimberley. "And we can identify the return on these investments when we see shipments of U.S. soybeans to Thailand. These didn't exist just a few years ago. ISA understands the importance of connecting with our partners by visiting their facilities and businesses overseas and also hosting these partners at our own farms."

The Iowa Soybean Association is paying for costs incurred by the lieutenant governor during the trade mission.

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31 Mar 2014

Hygiene Drive to Benefit Open Door Crisis Assistance Program

By Liz Strader

Open Door, a nonprofit program managed by Skip-a-Long Family and Community Services, focuses on helping individuals and families in Rock Island, Henry, and Mercer County who are in immediate need due to crisis.  The program offers an on-site food pantry and clothing, but also works directly with local social service agencies to connect those in crisis with the services that can help give them a "hand up," not a handout.  Whether it be a young mother who has recently left an abusive relationship, a man who is homeless after losing his job, or a family who is in need of transportation to school and work after a car accident, Open Door strives to be a one-stop program to get what is needed or to contact an agency that can meet the need of those in crisis.

Oftentimes, we forget that a family may have to choose between a loaf of bread and infant bath soap, or between a monthly medication and shampoo and toothpaste.  Hygiene products can be expensive, but are important not only to the cleanliness of an individual but also to his or her self-esteem and self-worth.  Imagine a middle-schooler walking into his classroom, not having had a shower in several days.  The reactions by his classmates alone are a blow to the young child's confidence, and, experienced frequently, could lead the child to avoid and even dread going to school.  Simply having the products necessary to be clean can make a world of difference to a person, and that is where we are calling on the community to help!

Open Door will be hosting a hygiene drive at two locations in Rock Island, and we invite everyone to take a few minutes to purchase one or two items so we may give them directly to individuals and families who would otherwise go without.  Visit us at one of the locations listed below and make a positive impact on someone's life!  For more details on the Open Door program, please visit www.salfcs.org/riopendoor

Hygiene Drives:

WHEN:  Saturday, Apr. 12th, from 1:00pm to 4:00pm

WHERE: Walgreens - 3100 - 11th St., Rock Island, IL and Walgreens - 2955 - 18th Ave, Rock Island, IL

WHAT IS NEEDED:  Shampoo, body soap, washcloths or puffs, toothbrushes, toothpaste, men's and/or women's razors, shaving cream, baby shampoo, infant and toddler toothpaste and toothbrushes, etc.
31 Mar 2014

Migraine Prevention Tips

By Ginny Grimsley

Got a Headache? You're Not Alone
Neurologist & Mind-Body Doc Shares Natural
Migraine Prevention Tips

Headaches are the number 3 reason women ages 18 to 44 go to emergency rooms, and the fifth-leading cause of emergency room visits among all Americans, according to a 2013 National Institutes of Health report, which calls headaches a major public health problem.

"The key to preventing headaches is, of course, to figure out what's triggering them," says Dr. Romie Mushtaq, www.BrainBodyBeauty.com, a neurologist, mind-body physician and an expert in Mindful Living. "While migraine and stress headaches can both be triggered by stress, migraines have many other possible triggers and they vary from one individual to the next."

Dr. Romie has counseled thousands of headache sufferers and recently launched a six-week online seminar, Heal Your Headaches. She guides participants through ruling out various triggers, and shares traditional and holistic treatment options, among other information.

"It's so important to educate people who suffer from headaches, especially migraines. There are many misconceptions about them," she says. "I've had patients tell me they don't have migraines because their headache isn't accompanied by vomiting. Or they've been told they just have a low threshold for pain, even that they have no willpower!"

Dr. Romie advises patients to begin ruling out possible triggers.

"Start eliminating common food triggers from your diet, such as wine, chocolate and gluten, and if the headaches become less frequent or go away altogether, slowly add each item back," she says. "It may quickly become apparent what's triggering your headaches."

If not, she shares other possible triggers people are not aware of:

• Are you getting enough sleep?
Migraines can be triggered by sleep deprivation. A lack of sleep can actually lead to structural changes in the proteins of the brain that make the trigeminal nerve more sensitive to pain. The trigeminal nerve supplies sensation to the face, head and meninges - the membranes surrounding the brain -- and it is the nerve pathway that is the foundation of the where migraine headaches start.

When we are stressed, our sleep gets disturbed, and headaches are often one of the first signs. Creating a routine at night to reduce stress prior to bedtime is a key. If you can't sleep because of headache pain, talk to your doctor about the temporary use of sleep-aid medications.

Also, avoid caffeine after 12 p.m.

• Are you drinking enough water?
If you start feeling pressure or a dull headache at work, especially in the afternoon, it may be that you're not drinking enough water during the day. Dehydration can cause fatigue, loss of focus and mid-day stress, which can trigger headaches, including migraines. Be sure to drink water throughout the day.

If you're having trouble identifying your headache trigger, consider this natural therapy:

• Feverfew  for prevention:
Feverfew is one of many effective herbs studied for preventing migraine headaches  -- it has been studied in adults, but not children or pregnant women. The typical dose is 85 to 100mg daily. If you're experiencing more than two migraine headaches a month, you should try this natural supplement. I don't recommend one brand over another; since brands are not regulated by the FDA, there is no scientific way to prove one is superior to another.

While these tips may help you gain control over your headaches, remember - anyone who has recurring headaches should see a physician, Dr. Romie says.

About Dr. Romie Mushtaq

Dr. Romie is a mind-body medicine physician and neurologist. She did her medical education and training at the Medical University of South Carolina, University of Pittsburgh Medical Center and University of Michigan, where she won numerous teaching and research awards. She brings to healing both her expertise of traditional Western training and Eastern modalities of mindfulness. She is currently a corporate health consultant and professional health and wellness life coach at the Center for Natural and Integrative Medicine in Orlando, Florida.  She is also an international professional speaker, addressing corporate audiences, health and wellness conferences and non-profit organizations.  Her website is www.BrainBodyBeauty.com.

31 Mar 2014

Spend Your Tax Refund Wisely

By Jason Alderman
Last year the IRS doled out over 110 million income tax refunds averaging $2,803. Another way to look at it is that collectively, Americans overpaid their taxes by nearly $310 billion in 2012.

Part of that is understandable: If you don't have enough tax withheld throughout the year through payroll deductions or quarterly estimated tax payments, you'll be hit with an underpayment penalty come April 15. But the flip side is that by over-withholding, you're essentially giving the government an interest-free loan throughout the year.

If you ordinarily receive large tax refunds, consider withholding less and instead putting the money to work for you, by either saving or investing a comparable amount throughout the year, or using it to pay down debt. Your goal should be to receive little or no refund.

Ask your employer for a new W-4 form and recalculate your withholding allowance using the IRS' Withholding Calculator (at www.irs.gov). This is also a good idea whenever your pay or family situation changes significantly (e.g., pay increase, marriage, divorce, new child, etc.) IRS Publication 919 can guide you through the decision-making process.

Meanwhile, if you do get a hefty refund this year, before blowing it all on something you really don't need, consider these options:

Pay down debt. Beefing up credit card and loan payments can significantly lower your long-term interest payments. Suppose you currently pay $120 a month toward a $3,000 credit card balance at 18 percent interest. At that pace it'll take 32 months and $788 in interest to pay it off, assuming no new purchases. By doubling your payment to $240 you'll shave off 18 months and $441 in interest.

Note: If you carry balances on multiple cards, always make at least the minimum payments to avoid penalties.

The same strategy will work when paying down loans (mortgage, auto, personal, etc.) Ask the lender to apply your extra payment to the loan principal amount, which will shorten the payoff time and reduce the amount of overall interest paid. Just make sure to ask whether there's a prepayment penalty before trying this strategy.

Boost your emergency fund. As protection against a job loss, medical emergency or other financial crisis, try to set aside enough cash to cover six to nine months of living expenses. Seed the account with part of your refund and then set up monthly automatic deductions from your paycheck or checking account going forward.

Increase retirement savings. If your debt and emergency savings are under control, add to your IRA or 401(k) accounts, especially if your employer matches contributions; remember, a 50 percent match corresponds to a 50 percent rate of return - something you're not likely to find anywhere else.

Finance education. Enroll in college courses or vocational training to gain additional skills in case you lose your job or want to change careers. And ask whether your employer will help pay for job-related education.

You can also set money aside for your children's or grandchildren's education by contributing to a 529 Qualified State Tuition Plan. As an incentive, the government allows your contributions to grow tax-free until they're withdrawn.

And finally, to check on the status of your refund, go to the IRS's Where's My Refund site. You can usually get information about your refund 24 hours after the IRS acknowledges receipt of your e-filed return or about four weeks after filing a paper return.

31 Mar 2014

BHS presents The Music Man

By Tim Hoenig

BETTENDORF, IA. -- Bettendorf High School proudly presents Meredith Willson's, The Music Man, the winner of six Tony Awards. One of the most beloved musicals of all time, The Music Man tells the story of Professor Harold Hill, a fast-talking salesman of musical instruments who convinces the good folks of River City, Iowa that they need a band. His plans to skip town with their money come to a crashing halt when he falls head-over-heels in love with Marian, the town's librarian.

The production, highlighting the talents of more than 120 high school students, also features students from all six of the district elementary schools. The production stars senior Matthew McFate as the cunning Harold Hill and junior Emily Tinsman as Marian Paroo.

"I am very proud and excited to be a part of such a wonderful experience. The cast and crew are amazing, the set is phenomenal, and it is just so much fun to get to go help put something like this together every day after school! I hope everyone enjoys seeing the show as much as we all love performing in it!" McFate said.

All performances will take place at the Bettendorf High School Performing Arts Center, beginning at 7 p.m. on April 10-12 and 1 p.m. on April 13. All tickets are $10 and may be purchased from the BHS Activities Office or the high school website.

WHAT: The Music Man, book, music and lyrics by Meredith Willson, directed by Katherine Howard, with technical direction by Chris Howard and musical direction by Chris Saito and Jeff Knutson.

WHEN: Thursday, April 10 - Sunday, April 13. The curtain will open for the Thursday, Friday, and Saturday performances at 7:00 p.m., while the Sunday performance is a 1:00 p.m. matinee.

WHERE: All performances take place at the Bettendorf High School, Performing Arts Center at 3333 18th Street.

TICKETS: Tickets are $10 and may be purchased from the BHS Activities Office or the high school website (www.bettendorf.k12.ia.us).

31 Mar 2014

5,218 WATCH MALLARDS CLOSE REGULAR SEASON WITH FOURTH STRAIGHT WIN

By Brian Lavelle
MOLINE, Ill. (March 30, 2014) - Mike Stinziani scored once and added two assists and Jeff Lee provided the third period game winner as the host Quad City Mallards closed out the regular season by defeating the Missouri Mavericks 5-3 Sunday in front of 5,218 fans.  With the victory, the fifth place Mallards (33-23-10, 76 points) head into the Central Hockey League playoffs riding a four game winning streak while the defeat was the third in a row for the regular season champion Mavericks (44-20-2, 90 points).

Lee crashed the net to break a 3-3 deadlock and put the Mallards on top for good at 4:04 of the third.  Lee buried the winner just two minutes and four seconds after Mike Ramsey had evened the score for the Mavericks with a wrist shot from the right wing circle.  At 7:23 of the third Matt Boyd's wraparound goal provided vital insurance for the Mallards.

The Mallards, who never trailed, got an early jump on the Mavericks by outscoring Missouri 2-1 over a wild two minute and thirty-four second stretch of the first period.  Justin Fox's point blank power play goal gave the Mallards a 1-0 lead at 7:39 of the first.  One minute and five seconds later, Mike Stinziani's shorthanded wraparound doubled the margin.  The Mavericks got on the scoreboard for the first time when Andrew Courtney swept the puck in from the doorstep at the 10:13 mark.

The second period brought more rapid fire scoring.  Thomas Frazee's one timer from the slot gave the Mallards a two-goal cushion at 14:52 but the Mavs' Obi Aduba narrowed the gap to 3-2 from the high slot just 14 seconds later.

The Mallards welcomed a total 11,020 fans to their final two regular season home games and have drawn throngs of better than 5,000 to the iWireless Center six times since January.

The Mallards head to Rapid City Friday and Saturday for games one and two of their best-of-seven opening round playoff series against the Rush.  The Mallards return home for game three on Wednesday, April 9 at 7:05 p.m. and game four on Friday, April 11 at 7:05 p.m.  If a fifth game is necessary, it will be played on Saturday night April 12 at 7:05 p.m. at the iWireless Center.  Should a sixth game be required, the series will shift back to Rapid City on Tuesday, April 15.  If the series goes to a seventh game, the Rush would host the deciding contest on Wednesday, April 16.

Tickets for Mallards home playoff games can be purchased in person at the iWireless Center box office, online at ticketmaster.com, at Ticketmaster outlets or through Ticketmaster charge-by-phone toll free at 1-800-745-3000.  The ticket office is open weekdays from 10:00 a.m. to 5:30 p.m., on Saturdays from 10 a.m. to 2:00 p.m. and on game days from 10:00 a.m. until the start of the second period.

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