Career Change- Right Decision?

Wondering if you made the right decision about anything major lately? I taught school for 15 years (2001-2016) after spending lots of time, effort, and borrowing lots of money to obtain a bachelors and a masters degree in that field. I enjoyed the students and what I was doing, but often felt over-worked, under-paid, and under-valued. It barely paid enough to get by, but I got by, and having my real estate license since 2007 has helped me to make a few extra bucks helping people part-time, while I was teaching.

In June 2016 I took a leap of faith, and quit my teaching job and went “full-time” in real estate and started pursuing some other professional financial licensing. I did well, was able to make more money than in teaching, running these businesses. I credit that to great mentors, like my bff from third grade who brought me into the financial business, encouraging me to get my licensing to help other teachers I know. (Thankful there is a part-time option in my business! I needed that to gradually see if it was for me.) She made me aware that I have a lot of potential lying inside me, and could really be making an impact on many families’ financial lives if I’m willing to take a risk, learn something new, and step out of my comfort zone slightly- (You know- talking to people.) The reward would be worth it, I decided, and I set out to make it happen. Now I have awesome mentors like the owners of my office in Brookfield, and the office members themselves, we are like one big family and so helpful and inspirational to one another. I also should shout out my podcasts, books, and youtube authors and coaches, people who pour truth out into the world through their messages, reinforcing my belief that I deserve to win and be successful and that I can. My various business partners and brokers/leaders who never stopped believing.

Now, fully licensed, offering complete financial help from A-Z for everyone, (not just high net-worth people,) I feel so free and in my element. I love the feeling of helping someone with their plan. I love the vibe at the office, where we learn and grow together. I love seeing new agents getting licensed and finding their calling! I’ve been blessed to be a recruiter and trainer in my firm, and it’s so exhilarating watching someone make a career change or become successful for maybe the first time in their lives, stepping into their calling.

The leaders in my firm are so inspiring! Hearing from people from all walks of life, younger, older, men, and women, and how they came up in this business, really only confirms the belief that I too can continue to achieve my goals and dreams here. There’s nothing on Earth like a big event to knock your socks off and get your belief and mindset right, and we’ve definitely got them! I’m so looking forward to our convention in Atlanta June 19-22 – in four weeks! My other bff Heather is on my team and will be joining me this trip and it’s going to be such a life changer. Not sure how it could be any better than this- but it will be!

So why did I begin this blog post with “Wondering if you made the right decision about anything major?” Yes, it’s true, I do sort of wish I could still be teaching, since it was such an investment. Or maybe I wish I had pursued this path in financial services, straight out of high school and never “wasted” the time, money and effort on becoming and being a teacher in the first place. I still have a lot of student loan debt that I’m paying for, and it would have been great if someone could have given me a crystal ball to see how borrowing the money would affect my life. I’m thankful to have a plan to pay it off, while I’m also building wealth, but it would have been nice to have a plan at 18 years old! (That’s why I am so passionate about helping young people with their financial game-plans while they’re young!!) I don’t mind helping someone open a $50 a month account for their Roth IRA, even though I may not make a whole lot of money on that transaction itself, it opens the door for referrals and future business, but MOST importantly, do you realize how much a $50 a month investment earns on average over 30 or 40 years, (length of time a young person has until retirement?)

So, yes I know I’ve made the right decision for myself in my career change. I love being able to attend my kids’ field trips, take them on trips, and teach them things I wish I knew about money. I know I’ll be set for retirement, too. I know all the families I’ve helped will be so much better off than had I not been able to help them and that makes all the difference to me!

So here’s to Summer 2019 beginning- let’s make it a hot one! I know I am! Who’s coming with me? See you at the top!

Ten Things Smart Grandmas do for Their Grandchildren

Yas, yas, and more yas!

Wise Ladies

So… you are going to be a grandma or you’re already a grandma! Congrats! There’s so much to plan now! Your child is having a CHILD! What could be more exciting? You may find yourselves engaging in hours of conversations about fun things like nursery themes, baby names, and weird cravings!

Some serious topics may come up, too. Like how in the world is this child going to pay for college? Maybe you and/ or your child(ren) still have some student loans that you’re paying off? Perhaps you have JUST enough saved to begin YOUR retirement and enjoy it in the near future. Maybe your children were savvy enough to open themselves a Roth IRA when they began their careers. NOW the bridge that you and your child must cross is helping this new little human plan for paying for college. (And he or she may not…

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What I Say When I Talk to Myself

Ok I am not crazy, first of all. But I do talk, mostly in my car, alone. It is one way of raising my vibration, getting my mindset right, focusing on the positive. I sometimes talk to the Creator, and I sometimes just talk… to myself. I’m hoping I’m not the only one, but if I am, maybe more of you will try it after you read my experience with it.

I can write my own story. In my fifth decade of life now, I’ve realized I am in control of my destiny, reality, and happiness.  Everything I desire and want is available to me and I can get it. I am not limited. My life is UN-limited. When the current situation seems bleak, all I need to do is focus on what I want to change, set my mind there, and take action. When things are going awesome, all I need to do is focus on how awesome life is, and create more of it by keeping my vibrations on that level. Talking helps me envision the reality I desire. It’s like, when I say it is so, then it is so!

I do not give up. Recently I’ve had an experience where I felt MAYBE I should give up on this particular endeavor. HOWEVER- I do not give up. If something is “hard,” then all the better! Once I accomplish it I will feel that much better about doing something that was “hard.” I’m not giving up, I can do this- and ANYTHING I put my mind to. I will not make excuses, I will achieve my goals.

I know my worth. I tell myself – and I believe- that my worth is great. I’m an awesome mom, life partner, entrepreneur, friend, granddaughter, daughter, facebook friend, etc. Some people can say or do things on purpose or inadvertently to knock us down and feel bad about ourselves! I go over my accomplishments, my generous gestures, my giving thoughts and deeds, my good intentions. I know I am a good person no matter what. I have made mistakes but they’re in the past. Plus there is not one person on Earth who hasn’t. Every day is a new day to set great intentions, be an awesome human, and KNOW my worth! Never let your past dictate your future.

More to come…

3/27/18

I accomplished a feat that was starting to feel impossible! Never give up. Try and try again. You can do it! Keep with the positive self-talk!

Onto the next goals!

Ten Things Smart Grandmas do for Their Grandchildren

So… you are going to be a grandma or you’re already a grandma! Congrats! There’s so much to plan now! Your child is having a CHILD! What could be more exciting? You may find yourselves engaging in hours of conversations about fun things like nursery themes, baby names, and weird cravings!

Some serious topics may come up, too. Like how in the world is this child going to pay for college? Maybe you and/ or your child(ren) still have some student loans that you’re paying off? Perhaps you have JUST enough saved to begin YOUR retirement and enjoy it in the near future. Maybe your children were savvy enough to open themselves a Roth IRA when they began their careers. NOW the bridge that you and your child must cross is helping this new little human plan for paying for college. (And he or she may not even be able to read yet!)

Thing #1 That Smart Grandmas Do

They start the conversation with their child about education savings. When planning for college for your grandchild, your child needs all the help they can get. When it comes to starting a 529 plan for the child, the sooner the better. The plans offer various tax savings (on the earnings) and a variety of investments, and the more time you have, the more time there is for growth of the money. These plans are considered gifts in most cases, for tax purposes.

Thing #2 That Smart Grandmas Do

They pick a plan. Do some research and talk with a professional person who sets up these plans for families. One place to start comparing plans is here at the US News website. Make sure the plan you pick matches your objective and that you understand what the money will be expected to do over the next 18 years or so, and how it will be taxed, or not, depending on its purpose for use.

Thing #3 That Smart Grandmas Do

They help all their grandchildren. This might be a tough one if you have, let’s say an older grandchild who has stated he’s not intending to go to college, or twelve grandchildren, and no way to contribute to twelve plans yourself. It’s ok! Have the conversation with your financial pro and your children and see what they can do for you. Because of compounding interest, even a few dollars put away on a monthly or regular basis can really add up (or should I say multiply up!) Take a minute to watch this awesome video on the rule of 72 and how it works with money!

Thing #4 That Smart Grandmas Do

They know what the “qualified expenses” are for their plan, so they can relay the info to their grandchild when the time comes. The qualified expenses are the things on which the child can spend the money, such as tuition, room and board, fees, and text books. Make sure you understand what IS and what IS NOT a qualified expense before you or your child invests in a plan for your grandchild. Your financial pro will be able to give you something in writing regarding what qualifies. Laptops, bedding, and food generally do not qualify.

Thing #5 That Smart Grandmas Do

They know what the best performing 529 portfolios have been doing over the past few years. Your financial pro should be able to match you up with a fund that has been performing around 9% or 10%. Don’t go with a fund that’s been doing 6% or 1%… that’s lame. Ask your finance pro if you may see the Morningstar annualized three year return data for any portfolio into which they say you should put your money. (They should have a subscription so that you don’t have to spend money on one.)

 

Thing #6 That Smart Grandmas Do

They don’t forget their children while they’re at it with all this planning for the future! It’s so easy to want the best for your new grandchild and to easily forget your own child! Has your adult child set up a retirement fund? Does their company offer a matching 401K? Are they taking advantage of the full match? That’s free money. In addition, there are numerous reasons to open a Roth IRA. (But that’s a whole other blog post!) Your financial pro should be versatile enough to handle making sure your children are properly set up in these, plus any other suitable investments for their age and objectives. For example, my daughter is a self-employed entrepreneur, so a Uni-K is one of the best vehicles for her out there right now. I “hooked her up,” with one as they say!

Thing #7 That Smart Grandmas Do

They know that their plan may not show positive returns every single year. Just like mutual funds, 529 plans are invested in the market. The market goes up; the market goes down. Did you know that it’s good when the market goes down?? When the market goes down, you’re buying more shares, within your plan, for the money. Then when it comes back up, there are more shares IN the portfolio, hence more money in the account. A large percentage of portfolios do show positive returns most years, though, so no worries.

Thing #8 That Smart Grandmas Do

No one wants to have to think about this one, but they have a will, or a “Last Will and Testament,” made. Getting a will doesn’t have to be an expensive event. A lot of companies offer legal services for $25 a month or so that can put you in touch with a lawyer to create a will for you. Having a will makes it so your children and grandchildren don’t have to have the hassle of probate hearings and having the court decide where your assets go.

 

Thing #9 That Smart Grandmas Do

They have their children get term life insurance until their children are self-insured. Yes, yes, your child may have life insurance through their job. But guess what? I’ve heard terrible stories about people becoming terminally ill, taking a leave of absence, and somehow getting fired from their job! In the cases where this happens, the person loses their life insurance, and other benefits as well. It’s always wise to have a term policy to cover income loss and funeral expenses in the untimely event of death. Term life insurance is incredibly cheap. And necessary.

Also, whatever they do, don’t let them use life insurance as an investment. Buy term and invest the difference in mutual funds or something suitable.

Thing #10 That Smart Grandmas Do

They share articles like this! Go ahead click that share button and blast this out to all the wise grandmas in your life! This is necessary stuff that needs to be discussed and shared. I’m Heather Reliford and I work for all these things for families in Wisconsin and I have a team in Illinois and Kansas who also believes in doing what’s right for families! Thank you for your time in reading and sharing my blog post. I look forward to many more in the near future.