Get an IRA to get Reduction in you Tax Bill

If you have a 401k at work and are over 50 and need to find immediate relief on your taxes.A Traditional IRA May be your solution.

You have until April 15, 2019 to contribute for a tax deduction in the 2018 calendar year. Since IRA is separate from employer sponsored 401k, you can invest up to $5,500 in IRA’s plus an additional $1,000 or $6,500, if you’re over 50. Depending on your income your contribution may or may not be tax deductible.

For 2018, once you reach $63,000-$73,00 of income as a single person – or  $101,000-$121,000 if married, filing jointly or a qualified widow(er) – you will either be entitled to deduct only part of your traditional IRA contribution or Not entitled to a deduction  at all. 

Remember for retirement the general goal is to minimize tax liabilities and maximize earnings. If you have questions call us 575-541-3963.

Be A Responsible Driver

Driving and talking on the phone have become the norm. I’m must admit, I’m guilty as most in this area. Why do we do it? We don’t perceive talking on phone while driving as dangerous.

Research shows that talking in the phone while driving is a distraction which increases likelihood of an auto accident. And accidents affect your insurance rates.

When you add texting to the equation your chances of causing an accident more than quadruple and are more likely to cause a crash than a drunk driver.

When we’re distracted we don’t perceive the road and our surroundings well. We are seeing but not perceiving. The underlying phenomenon is the same as the famed Invisible Guerrilla in the room experiment.

The real reason to stay on task while driving is to protect your most important and limited resource: Your Attention. And your safety.

Honor others…you’ll be a better Person for it

To give a person Honor it means we pay them tribute or regard them with high respect.

All people are worthy of Honor. We all have special gifts and talents worthy of Honor. Sadly, society usually only Honors people for what they do rather than for who they are.

Honor your partner and they will respond in kind

Honor your kids and they will excel

Honor those you disagree with and you will have less strife

Honor your clients and they will be your loyal advocates

Honor all people because each one of us is worthy of Honor.

Feelings of Superiority ( why humbleness will serve you better)

  • Most of us love Superman and other superheroes. I think our fascination comes from seeing them as superior in agility, speed or strength. They all have another positive trait in common. They care about the well being of others and use their powers to serve.
  • We too can be smarter, faster or have special skills and abilities that can make us stand out above others. We have the responsibility of using our gifts and talents wisely. Not doing so can lead to feelings of superiority.

    Acting as if we’re superior to others, will lead to the downfall of a leader. Having more education, being smarter or having a higher position in an organization can cause a person to have feelings of Superiority.

    Behaving in such a way, will cause a person to lose influence with family, friends and co-workers. People who behave this way are difficult to deal with, they tend to be demanding, prideful and not open to coaching from others.

    No matter how smart or successful you become, there’s always someone smarter or more successful. Remember where you came from before becoming successful. Be patient with others and invest in others to teach them what someone taught you. Success breeds success and increases your influence.

    Protect Your Employees and Your Business

    Owning a small business requires hard work and dedication. If requires many long hours and sacrifice. For many, it is very rewarding financially.

    Not a single business can thrive on the efforts of one person alone. Most businesses require the effort of several people, meaning employees. It beckons to say that employees are a critical asset to any successful business. Yet, too often small employers fail to provide workers compensation insurance to protect their employees or their business.

    Workers Compensation is no fault insurance which pays medical bills related to on the job injuries or work related illness. Having this type of insurance is the law in most states. Not having it can cost severely in fines and not to mention the loss of ability to do business.

    Don’t hedge your bets. Protect your business, your employees and avoid legal fees.

    For more information or a quote, visit my website: Frank Moreno Agency- Farmers Insurance

    Change to Survive

    As clients needs and desires change it’s important to adapt and make changes necessary to meet your clients needs. We’re in business to serve our clients, yet we have to know when the relationship is mutually beneficial.

    Amazon continues to thrive and maybe at expense of US Service. The US Postal service has historically struggled to keep up and in 2018 had big losses inspire of 10% increase in packages mailed.

    US Postal Service Revenues drop over $3.8 M

    FedEx and UPS charge Amazon $7-$8 for shipping while US Postal Service only charges $2 a package. It’s time the US Postal service closely looks at their relationship with Amazon. Are they being charged enough fees in shipping charges? Does US Postal Service need to rethink its retirement program?

    Giving and Receiving

    Giving others is great and we should want to help others who need emotional, financial or any other form of support.

    Receiving is just as important. Many if us spend a lot of time giving and trying to get others to like or approve of us. We think if you take care of me, I will take care of you.

    I have come to see that I have to take care of me first, so I can offer the best to another person. The other person has to take care of themselves, to offer their best for me.

    To offer our best, we have to create inner peace. We do this by learning to like and love ourselves first. We can never give what we don’t have. When we like and love ourselves we, can then give ourselves to others.

    Old Friends

    Old Friends are always a blessing and they’re like family. We all have friends or acquaintances but when you have friends whom you truly connect with, that’s a true blessing.

    Just yesterday we had lunch with our old friends and we spent hours talking and catching up. As we shared our life experiences, it’s like we never missed a day since we last saw each other. . .We feel comfortable and glad to let our friends know about our personal joys and difficulties. They understand us. Most of all they love and care about us.

    A true friend is closer than a brother or sister. If you’re blessed to have such a friend(s), considered yourself blessed and loved and cherish the time you spend together.

    It takes guts to act

    When I was young, and I always wondered why our mother would discipline us by making us get on our knees with our hands behind head. We had to remain in that position anywhere from 15 minutes to 45 minutes depending on the severity of the offense.

    I came to realize that she was disciplining us for our failure to do our shores or homework. Our mom was teaching us the importance of taking action. The sweeping, the dusting, the homework required that we would actually get off the couch from watching TV and do it.

    A lot of people say they can’t lose weight, stop smoking, Or stop any bad habit that affects their well-being. Most of the time the issue is that the person cannot give up a bad habit, the issue is that they are not committed and disciplined to take action, they aren’t committed to do the things they need to do to change the bad habit.

    As Tony Robbins says change your habit and change your outcome. In order for things to change, we have to change the way we think. For us to get in shape requires for us to get up a little earlier, so that we can walk outside, or go to the gym to exercise.

    Finally, enjoy the small victories as you work to change bad habits. Those daily small victories lead to an increase in self confidence and a more enjoyable and transformed life.

    Protecting Your Assets

    Something to really think about. You’re traveling out of town with your family, driving through several states to your final vacation destination. As you drive your SUV you have a sense of peace and security.

    You get to where you’re going and enjoy the food,, the wine, the delicatessens, the ocean views, visiting the many shops that cater to tourists like you. You take photos and make lifetime memories with your family.

    10 days later you and your loved ones drive back home still feeling at peace and secure. You listened to the advise we gave you when we sat down face to face to discuss your liability coverages.

    You made the wise choice not to carry the state minimum liability coverages of $25,000 per person and $50,000. Per accident. You chose higher liability protection to make sure your family and your assets are protected. If you had been at fault for a severe accident, you would be protected and that is peace of mind.

    It’s important not to put yourself at risk to save $5-$10 per month, saving a few bucks could cost you thousands or even millions in the long run.