Thursday, September 30, 2010

WineontheKeyboard

WineontheKeyboard

St. Simons Island

Posted: 30 Sep 2010 03:55 AM PDT

We love to explore new places, so we next headed out to St. Simons Island off the coast of Georgia. We wanted to see what some of the Georgia islands were like.

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We stayed at St. Simons Inn by the Lighthouse. It has individually owned condos but we reserved the room through the Inn. Our room was very nice. The staff was nice. It was clean.

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The island was cute with lots of live oaks lining their streets.

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The beaches we saw there were kind of ho-hum and marshy. I’m not sure what they were like on the other side of the island. We walked around this area with its shops and restaurants and ended up at the Iguana Restaurant. Twice. Lunch and Dinner. Enjoyed really cold Yuengling Beer. Just sayin’ you might want to try it if you go to St. Simons! It’s in the Pier Village area of the island in walking distance of where we stayed.

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There was this little park area by the pier. That night when we were walking around, there was an outdoor wedding reception at the edge of this park area. We took advantage of the music and danced in the park. :love:

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They have a cool lighthouse so I was able to get my lighthouse photo fix. :dance:

We had a great time. (notice the trend) but I doubt we’d stay on the island again, but we’d sure swing buy and eat at the Iguana Seafood Restaurant again! We also drove to Jekyll Island (you have to pay to get on the island) and not much is right on the beach, so we marked that island off of places to stay too. We did a lot of that on this trip.

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Consumer Boomer

Consumer Boomer

How To Cash In Your 401k (Without Penalty)

Posted: 30 Sep 2010 05:14 AM PDT

Your employee-sponsored 401k retirement account is meant to remain untouched until you have reached the age of retirement. However, there are circumstances that arise where a lump sum of cash is needed for an emergency and 401k funds are the only resource available. Funds withdrawn from a 401k account early are subjected to a ten percent penalty fee in addition to the taxes assessed on the amount by the IRS but there are ways to access your 401k fund without incurring a penalty.

Ways to cash in 401k with no penalty
Creative Commons License photo credit: House Committee on Education and Labor

401k Loan

In hardship situations, the federal government gives administrators of retirement plans the ability to offer 401k loans. Not all providers will offer such loans but if you are in need of cash, you can inquire with your provider. Loans can be used for a number of reasons and the government does not have guidelines for how the money is used, though some employers will restrict what the funds can be used for and how much can be taken out.

Generally, a loan in the amount of up to 50% of their vested balance with a maximum loan amount of $50,000. The loan must then be paid back with interest within a 5 year time period. If the borrowed cash is towards the purchase of a home, the payback time granted is much longer.

401k Hardship Withdrawal

If you are not eligible for a 401k loan, you may still be able to access your retirement funds when you have a genuine need. Not all employers will offer such hardship withdrawals so you'll need to check in with your plan's provider to find out the terms for hardship conditions.

Hardship withdrawals can be used for one of the following five circumstances:

  • Purchase of a primary home
  • Tuition, room and board, and fees associated with higher education for the next twelve months for the purpose of you, your spouse, dependents, and non-dependent children.
  • Prevention of primary residence foreclosure or eviction.
  • As payment for tax-deductible, non-reimbursable medical expenses for you, your spouse, or your dependents.
  • Several financial hardship you can prove.

Typically, there are four conditions that must be met in order to qualify for a penalty-free hardship withdrawal including:

  1. The withdrawal is necessary because of a serious, immediate financial need.
  2. The withdrawal is necessary because you do not have access to money from any other resource.
  3. The withdrawal amount does not exceed the total amount of money you need.
  4. Borrower has already received all distributable or non-taxable loans associated with your 401k retirement plan.

Steps to Cash in 401k Penalty Free

If you are in serious need of withdrawing funds from your 401k retirement account because you have exhausted all other resources, consult with the administrator of your plan to understand your options as all plans differ in terms and conditions by provider.
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The Boomer Blog

The Boomer Blog

FH Boom Daily Digest – September 29, 2010

Posted: 29 Sep 2010 05:54 AM PDT

Top News From Today's "Boomiverse"

Boomers seek out physical therapists as trainers
Paul Briand
Examiner.com
September 29, 2010

Overview: "As physical therapy becomes increasing important for aging Baby Boomers, it's not just the post-injury or post-surgery that's important."
http://tinyurl.com/36wacoa

Jobless boomers fear late-career bust
Dan Chapman
The Atlanta Journal-Constitution
September 27, 2010

Overview: "The jobless rate for over-55 Americans hit 7.3 percent in August -- a level not seen in at least 60 years of federal record-keeping."
http://tinyurl.com/2b2taoj

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The Boomer Chronicles

The Boomer Chronicles

My Friend Won a MacArthur Genius Grant!

Posted: 29 Sep 2010 08:25 AM PDT

A friend of mine, Nergis Mavalvala, 42, won a MacArthur “Genius” Grant yesterday! She’s a  quantum physicist and the most down-to-earth person you’d ever want to meet. Although I don’t truly understand what she studies, it’s something like this:  building devices to observe gravitational waves in space, which could one day give us a glimpse of the universe seconds after the Big Bang.

Anyway, I’ve never known a MacArthur Genius Grant winner before. Here’s a little writeup about, and video of, Nergis Mavalvala talking about her scholarly work and what she plans to spend the $500,000 on.
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Wednesday, September 29, 2010

WineontheKeyboard

WineontheKeyboard

Delta Queen Review

Posted: 29 Sep 2010 04:05 AM PDT

Yes, I’m going to now go back through and hit the highlights of our vacation. Now that I’m back home to my beloved iMac desktop.

We spent our first night on vacation on the Delta Queen in Chattanooga Tennessee.  The boat is moored at the riverfront and no longer travels up and down the river. It was….interesting.

delta-queen-chairs

Where to start? First off they offer valet parking. Not. There was no valet when we got there. The front desk took our keys and said they would “find the valet” and take care of it. I had paid for a premium suite. The site shows it with a wall of windows looking out over the window. They said that room was “out of commission” or whatever. But gave us the “first female riverboat captain’s suite”. Not. It was tiny and just like the photos of the regular rooms. We went back by the desk and mentioned that. They said they’d credit us back the difference in price.

Now, second off, you need to know that SuperGuy likes to eat. He researches restaurants in all the places that we plan to visit. Seriously. :rofl: Ah, well, to each their own. Well, I told him not to research in Chattanooga because I wanted to eat on the Delta Queen. Yes, not so much. We got there and asked where the restaurant was…and they said they weren’t serving that night because the chef didn’t show up. Really?? They did offer to comp us on a dinner cruise that goes up and down the river on another boat, but we’d been in the car all day and just didn’t want to do that.  So we walk across to a string of bars/restaurants and found a neighborhood bar type place where we ate. It had lousy hushpuppies and cold beer. I was cool with that. We walk back to the riverboat and see that our car is still parked under the bridge. But don’t worry, they’ll take care of it.

delta-queen-inside

They then said they’d move us into the suite, but it wasn’t ready yet. We went to the bar. (Big surprise there, right??) Here are some photos of the gorgeous inside of the boat. The bar had this wonderful wooden counter. The stairway to upstairs was just elegant. Really, the boat was clean and well taken care of.

So eventually they said our room was ready and helped SuperGuy haul all our stuff up to the top level.

delta-queen-cabin

Here was our “suite with the windows overlooking the river”. Yes, not so much, but a nice room nonetheless. Besides, we were on vacation, the drinks were cold. It’s all good. As an aside…see that sink in the bathroom? Yes, it really was that small. It’s not a illusion. You could hardly brush your teeth in it. But see how pretty all the wood is in the cabin? Oh, and they had lace curtains that anyone could see through. I’m just sayin’ if you were near that room that night, you got quite a show. :crazy:

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No one else was around on the top level, and we sat at a table outside our room and watched the river go by. Nice and relaxing. Inspite of the disorganization of the place, we were having a great time.

We got up the next morning and I sent SuperGuy to scamper and find us some coffee. We sat outside again, and our private table and watched the sunrise.

delta-queen-sunrise

Breakfast was included so we waited until it was open and went to go eat. Well, yes, it wasn’t ready yet. We waited about 20 minutes for them to have it ready and had a nice breakfast.

delta-queen-daylight

We wandered around and took some more photos. It really is a lovely boat. See that cute calliope? Then we went to check out and found out our car was still under the bridge…with the keys to it just locked up in this podium under the bridge. :mad2: Real secure, huh? SuperGuy asked for some help schlepping our bags out. (steep stairs and I was kind of through with the Delta Queen at this point.) I walked out with my purse and camera and my extra set of keys and went and sat in the car. :roll:

SuperGuy finally got some help, from some kid more interested in making sure he didn’t spill his soda than helping with the bags, but whatever. We loaded up and headed out to St. Simons Island in Georgia, our next overnight stop on our way to St. Augustine.

So inspite of the management problems, lack of dinner being served, and not getting the upgraded room they show on their website…we still had a great time. Would I stay there again? Not sure, but I wouldn’t pay for an upgraded room and wouldn’t stay for more than one night. But we were glad we stayed there this time to see what it was like. Still had fun, as is our wont.

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Consumer Boomer

Consumer Boomer

Short Term Disability Insurance – What You Need to Know

Posted: 29 Sep 2010 05:00 AM PDT

The purpose of insurance is to provide people with a safety net in case of an emergency. Many companies purchase an insurance plan and pay the insurance premium for their employees while others provide none. Some employers pay for up to a certain level of coverage for their employees and have the employees 'top up' for maximum coverage.

Short Term Disability Insurance Policies
Creative Commons License photo credit: Unlisted Sightings

What is Short Term Disability Insurance?

Should you become sick, or injured and unable to work, short term disability will kick in to provide income of usually between 40 to 60 percent of the person's regular base salary. Some common short term disability claims are made as a result of injuries, arthritis, diabetes or illnesses such as cancer, heart attack that would prevent an employee from performing their job.

When purchasing short term disability, check to see when the coverage begins. Some companies begin as soon as one day after an injury and some require a 14-day waiting period after a person becomes sick or disabled and can not work. Most companies do require that mandatory sick days be used prior to collection of any disability benefits. If you become sick or injured, it may be necessary to corroborate the illness or disability with a medical doctor.

Who is Eligible for Short Term Disability?

Usually a company's short term disability program covers most employees but there are some common restrictions:

  • Eligibility may be dependent on how long the employee has been working at the company. For example, some companies may require that short term disability is available to employees that work at least 30 hours per week, or not available to part time or casual employees.
  • There may be restrictions that identify only those employees that have been working at the company for so long are eligible for short term disability coverage.

Short term disability is usually considered with illnesses or disabilities that are expected to last less than 6 months. If an illness, permanent disability or condition is persistent or lasts longer, long term disability insurance should be considered.

Things to consider when purchasing a disability insurance package include:

  • Price of Premiums – Take the time to read the premium information to check that the benefits that are provided are adequate to your needs.
  • Income Requirements – The amount of compensation can vary between 40-60% of your gross income.
  • Payment Schedule – If you currently are relying on a weekly pay check but the disability payments are offered on monthly payments there may be some other financial considerations to balance in order to avoid becoming overdrawn at the bank.
  • Length of Coverage – The shorter coverage period will mean smaller premiums. This has to be balanced with the expected income that is required and the estimated amount of income required.
  • Time Period – The number of days before the coverage kicks in
  • Other available options

Imagine the stress and turmoil that would be raised if an accident or injury resulted in your not being able to work for a few months. Short term disability insurance can help cover living expenses including food and rent during the time you are not collecting a regular pay check. Think of short term disability insurance as providing you not only coverage but peace of mind.
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