Letter from the CEO

July 2015
Geof-Scanlon - Scanlon & Associates Employee Benefits Brokers
The Purpose of My E-Newsletter
I hope you enjoy receiving my e-newsletter.  It is intended to enhance and complement the personalized service that you already receive from me.  The e-newsletter’s main objective is to ensure, regardless of busy work schedules and travel plans, that each of my clients will receive at least a minimal amount of timely advice on a regular basis.  I also hope it will stimulate your thinking on issues related to your personal finances by providing you with articles on a variety of financial topics.  Please feel free to call or e-mail me with any questions or comments, particularly with regard to the applicability of a given idea to your personal situation.Please be liberal in sharing this e-newsletter with your colleagues and friends.  Feel free to call or e-mail me with the names and addresses of people who might enjoy receiving their own copy of this e-newsletter.
                                                                         
Bond Strategies for Varying Goals
The strategies used for bond investing will depend on the financial objectives you are pursuing.  Consider these financial objectives and bond strategies: Earning interest while preserving principal. This is the most typical role for bonds and is usually accomplished with a buy-and-hold strategy.
[FULL ARTICLE…Bond Strategies for Varying Goals]
The Psychology of Saving
Saving money sounds simple, and in many ways, it is. You simply set aside a portion of what you earn on a regular basis and watch your money grow. As a result, you’re more prepared for emergencies, feel more financially stable, and are better able to achieve the things you most want. But in reality, saving is a little more complicated. Sometimes, our own minds seem to work against us when it comes to setting aside some of the money we earn.
[FULL ARTICLE…The Psychology of Saving]
5 Surprising Facts about Saving in America
Most of us know that we as Americans just aren’t saving enough. But do you really know the truth about savings in the U.S.? Here are five facts about the state of savings that may surprise you. 1. Many people have virtually nothing saved. Thirty-six percent of people have less than $1,000 saved, according to a 2014 survey by the Employee Benefit Research Institute.
[FULL ARTICLE…5 Surprising Facts about Saving in America]
Easing into Retirement
For most of your working life, you’ve looked forward to the day when you can quit your job and start enjoying retirement.  But in recent years, talk of longer life expectancies, uncertain Social Security benefits, declining pension benefits, unknown inflation rates, and low retirement savings made retiring at a relatively young age seem difficult.
[FULL ARTICLE…Easing into Retirement]
Tips for Your 401(k) Plan
While 401(k) plan information may seem confusing, it is not as complex as it seems and may be vital to your retirement plans.  Simply put:  It pays to understand your 401(k) plan.  Here are a few tips to help: Maximize contributions — As soon as you possibly can, begin making contributions to your 401(k) plan, contributing as much as your budget will allow.
[FULL ARTICLE…Tips for Your 401(k) Plan]

Letter from the CEO

  June 2015

Geof-Scanlon - Scanlon & Associates Employee Benefits BrokersThe Purpose of My E-Newsletter
I hope you enjoy receiving my e-newsletter.  It is intended to enhance and complement the personalized service that you already receive from me.  The e-newsletter’s main objective is to ensure, regardless of busy work schedules and travel plans, that each of my clients will receive at least a minimal amount of timely advice on a regular basis.  I also hope it will stimulate your thinking on issues related to your personal finances by providing you with articles on a variety of financial topics.  Please feel free to call or e-mail me with any questions or comments, particularly with regard to the applicability of a given idea to your personal situation. 

Please be liberal in sharing this e-newsletter with your colleagues and friends.  Feel free to call or e-mail me with the names and addresses of people who might enjoy receiving their own copy of this e-newsletter.
                                                                         

Calculating Your Financial Ratios
When reviewing the financial health of a company, it’s common to look at financial ratios, such as earnings per share, price/earnings ratios, book value, and total return. The reason financial ratios are so popular is they give you a means to evaluate financial information while allowing you to track changes in a company’s performance over time.
[FULL ARTICLE…Calculating Your Financial Ratios]
Bonds and Your Retirement
For years, bonds have been an investment cornerstone for retirees because of their perceived stability, security, and ability to provide a reliable source of income. Below, we review some of the reasons you might want to make bonds part of your retirement portfolio and also highlight a few pitfalls you should be aware of.
[FULL ARTICLE…Bonds and Your Retirement]
Reassess Your Portfolio
ANow is a good time to thoroughly review your portfolio and make any necessary adjustments. Consider these tips when analyzing your portfolio…Take another look at your financial goals. Recalculate how much you need to save on an annual basis.
[FULL ARTICLE…Reassess Your Portfolio]
Nurture Your IRA
It’s tempting to pay little attention to an individual retirement account (IRA). After all, with a maximum contribution of $5,500 in 2015 ($6,500 if you are over age 50), how much can an IRA contribute to the vast sums you’ll need for retirement? The answer is plenty, especially if you follow these tips…
[FULL ARTICLE…Nurture Your IRA]
Will Your Child Graduate from College in Four Years?
When planning for college costs, a common assumption is that your child will obtain a bachelor’s degree in four years. But how realistic is that assumption? According to the Department of Education, less than one-third of college students graduate in four years, with 60% of students taking six years to graduate.
[FULL ARTICLE…Will Your Child Graduate from College in Four Years?]

May 2015- Letter from the CEO

May 2015

Geof-ScanlonThe Purpose of My E-Newsletter
I hope you enjoy receiving my e-newsletter.  It is intended to enhance and complement the personalized service that you already receive from me.  The e-newsletter’s main objective is to ensure, regardless of busy work schedules and travel plans, that each of my clients will receive at least a minimal amount of timely advice on a regular basis.  I also hope it will stimulate your thinking on issues related to your personal finances by providing you with articles on a variety of financial topics.  Please feel free to call or e-mail me with any questions or comments, particularly with regard to the applicability of a given idea to your personal situation.Please be liberal in sharing this e-newsletter with your colleagues and friends.  Feel free to call or e-mail me with the names and addresses of people who might enjoy receiving their own copy of this e-newsletter.
 
How Much Do You Need to Save for College?
The ever-rising cost of college is common knowledge. Depending on the school a student chooses, the cost of tuition, room, and board for an undergraduate degree can easily exceed six figures. With costs so high, many parents are simply overwhelmed.
[FULL ARTICLE…How Much Do You Need to Save for College?] 
Seven Ways to Pay Less for College
With the cost of college steadily rising, students and their parents are looking for ways to ease the financial burden. Fortunately, there are ways to reduce college expenses for your child. Here are seven for you to consider…
[FULL ARTICLE…Seven Ways to Pay Less for College] 
Avoid These Investor Mistakes
Avoid these common investor mistakes…Chasing performance. Investors often move out of sectors that are not performing well, investing that money in high-performing investments. But the market is cyclical.
[FULL ARTICLE…Avoid These Investor Mistakes] 
Estate-Planning Tips for Baby Boomers
As the baby boomer generation gradually makes the transition from their working years to retirement, it’s time for them to get serious about estate planning. But for a variety of reasons, many boomers have put off this essential task, putting them and their families at risk.
[FULL ARTICLE…Estate-Planning Tips for Baby Boomers]
Six Signs You Need a Financial Plan
A clear financial plan helps you prepare for the future, brace yourself for the unexpected, and positions you to pursue your goals. Yet only 31% of financial decision makers reported having ever prepared a comprehensive financial plan, despite the obvious advantages of doing so.
[FULL ARTICLE…Six Signs You Need a Financial Plan] 

Client Testimonials

Don’t take our word for it, hear what a few of our loyal customers have to say about working with Scanlon & Associates.

—————————————————————————————————————————————————–

Leslie Vincent, President
Members Choice Credit Union

“My job is to run a credit union, not to handle all aspects of the time consuming details of HR Management and Employee Benefits.  Geof Scanlon of Scanlon & Associates has handled for quite some time, many aspects of our benefits portfolio with competence and problem resolution are strengths of Scanlon & Associates.  I never worry about the quality and integrity of the products and I am thrilled with their extraordinary level of service.  Scanlon & Associates come with my highest recommendation.

Judy Hester, CEO
Northern Kentucky Educators Fedeeral Credit Union

“NKEFCU considers Scanlon & Associates an asset to our business.  They have helped us obtain the best pricing available for our employee’s health insurance package, as well as disablity and life insurance for the past 7 years.  NKEFCU actually used Scanlon & Associates before the endorsement from the Kentucky Credit Union League.

The Scanlon & Associates employees are always helpful, answering any questions the credit union and employees may have about their insurance.  We consider ourselves fortunate to have found Brennan and his team when the credit union was in need of insurance for the employees.  I would highly recommend Scanlon & Associates to any company searching for benefits for their employees.

Mike Cooper, President
C & O United

“Scanlon & Associates has been helping C & O United Credit Union for years and with only 6 employees, they have treated us like we were just as important as a company with 60 or 600.  The pricing of our insurance has also been low being included with the KCUL group.  I highly recommend you consider partnering with Scanlon & Associates as your insurance broker.

Alesha Saalwaechter, CEO
Daviess County Teachers Federal Credit Union

“I was a bit overwhelmed this past year when it came to renewing our employee health insurance package.  Scanlon & Associates met with me on several occasional and explained our options.  They are experts in their field and it was comforting to have them walk me thru the process.

Pathway Systems for Small Business

 

Scanlon & Associates is prepared to handle all your needs, such as selection of insurance for your business, employee benefit plans, advice and assistance with business tax preparation and documentation, and professional counsel on investment options and opportunities.  Our team is composed of seasoned professionals who have loyally and steadfastly served our clients over the years, backed by well-organized and thorough support staff providing timely and accurate follow-through on all client matters.

April 2015- Letter from the CEO

Brought to you compliments of Scanlon & Associates             


April 2015


Geof-Scanlon - Scanlon & Associates Employee Benefits BrokersThe Purpose of My E-Newsletter
I hope you enjoy receiving my e-newsletter.  It is intended to enhance and complement the personalized service that you already receive from me.  The e-newsletter’s main objective is to ensure, regardless of busy work schedules and travel plans, that each of my clients will receive at least a minimal amount of timely advice on a regular basis.  I also hope it will stimulate your thinking on issues related to your personal finances by providing you with articles on a variety of financial topics.  Please feel free to call or e-mail me with any questions or comments, particularly with regard to the applicability of a given idea to your personal situation.

 

Please be liberal in sharing this e-newsletter with your colleagues and friends.  Feel free to call or e-mail me with the names and addresses of people who might enjoy receiving their own copy of this e-newsletter.
 

Your Retirement Planning Questions Answered
Planning for retirement often seems to involve more questions than answers. Below, we answer some of the most common questions about planning for retirement, so you can make more informed decisions when planning for the future.
[FULL ARTICLE…Your Retirement Planning Questions Answered] 
How Much Do You Really Need to Retire?
There are a lot of reasons why people don’t save for retirement or don’t save enough. They feel they don’t make enough, they have more immediate financial needs, or they’re not sure how to get started. One other reason? People aren’t sure how much they need to save, which can make it hard to get started.
[FULL ARTICLE…How Much Do You Really Need to Retire?] 
Your Financial Planning Building Blocks
A strong financial plan doesn’t just appear out of thin air — it’s something that takes conscious effort to create. By assembling your five basic building blocks of financial planning and understanding how they fit together, you’ll be able to create a plan that works for you. Check out these five building blocks for your financial plan.
[FULL ARTICLE…Your Financial Planning Building Blocks] 
Distributing Your Estate to Grown Children
Even though your children may now be grown, they are probably still the center of your estate plan. But just because they are adults doesn’t mean you have to leave their entire inheritance to them outright after your death. Consider these factors first.
[FULL ARTICLE…Distributing Your Estate to Grown Children]
Things to Consider When Relocating
Major life changes often mean changes in your living situation, and retirement is no exception. Whether you are planning to stay put in your home or want to retire to an exotic location, there are some issues you’ll need to consider.
[FULL ARTICLE…Things to Consider When Relocating] 

March 2015- Letter from the CEO

March 2015

Geof-Scanlon - Scanlon & Associates Employee Benefits BrokersThe Purpose of My E-Newsletter
I hope you enjoy receiving my e-newsletter.  It is intended to enhance and complement the personalized service that you already receive from me.  The e-newsletter’s main objective is to ensure, regardless of busy work schedules and travel plans, that each of my clients will receive at least a minimal amount of timely advice on a regular basis.  I also hope it will stimulate your thinking on issues related to your personal finances by providing you with articles on a variety of financial topics.  Please feel free to call or e-mail me with any questions or comments, particularly with regard to the applicability of a given idea to your personal situation.Please be liberal in sharing this e-newsletter with your colleagues and friends.  Feel free to call or e-mail me with the names and addresses of people who might enjoy receiving their own copy of this e-newsletter.
 
Leaving a Legacy
Many of us want to do our part to leave the world a better place. Fortunately, there are many ways you can ensure you’ll have a meaningful impact on the world and leave a legacy that lasts long after you’re gone, including the work you do or how you raise your family. Of course, you can also leave a financial legacy, using the wealth you’ve accumulated in your lifetime to benefit the world.
[FULL ARTICLE…Leaving a Legacy] 
Celebrity Estate-Planning Lessons
Celebrities: They’re just like us, at least when it comes to estate planning mistakes. Whether it’s because they are too busy, unwilling to consider their own mortality, or led astray by bad advice, celebrities often die with their estates in disarray.
[FULL ARTICLE…Celebrity Estate-Planning Lessons] 
Take Time to Reassess
Periodically, you should reassess your portfolio, finding ways to increase your comfort level with your stock investments. Consider the following eight tips when you are reviewing your investment portfolio.
[FULL ARTICLE…Take Time to Reassess] 
Four Steps to Build Financial Confidence
Below are four simple suggestions that can help you increase your financial confidence, so you’ll know you’re making smart decisions. 1. Get organized. Not too long ago, it didn’t take much work for the average person to organize their finances.
[FULL ARTICLE…Four Steps to Build Financial Confidence]
When Should You Consider a 401(k) Plan?
In 1981, tax laws established the 401(k) plan, a form of defined-contribution retirement plan. The government’s motivation was to encourage Americans to increase their private savings as a supplement to Social Security.
[FULL ARTICLE…When Should You Consider a 401(k) Plan?] 

December 2014- Letter from the CEO

December 2014

Geof-ScanlonThe Purpose of My E-Newsletter
I hope you enjoy receiving my e-newsletter.  It is intended to enhance and complement the personalized service that you already receive from me.  The e-newsletter’s main objective is to ensure, regardless of busy work schedules and travel plans, that each of my clients will receive at least a minimal amount of timely advice on a regular basis.  I also hope it will stimulate your thinking on issues related to your personal finances by providing you with articles on a variety of financial topics.  Please feel free to call or e-mail me with any questions or comments, particularly with regard to the applicability of a given idea to your personal situation.

 

Please be liberal in sharing this e-newsletter with your colleagues and friends.  Feel free to call or e-mail me with the names and addresses of people who might enjoy receiving their own copy of this e-newsletter.
 

Making Your Money Last a Lifetime
Imagine yourself on the first day of the retirement you’ve been looking forward to for years. You’re in good health; and between your pension, Social Security, and IRA, you have more than enough to fund your lifestyle. Now, imagine it’s 10 years later.
[FULL ARTICLE…Making Your Money Last a Lifetime] 
5 Factors to Consider When Planning for Retirement
Planning for retirement is a very involved process. You have to plan based on a forecast of things that are out of your control — including the economy, your health, and your life span. But there are a few things you can consider today to help ensure that you are best prepared for your life during retirement.
[FULL ARTICLE…5 Factors to Consider When Planning for Retirement] 
Revisit Your Asset Allocation
You should reassess your asset allocation periodically. To do so, follow these steps:
1. Review your desired asset allocation percentages. When designing your investment strategy, you probably decided what percentage of your portfolio to allocate to different investments.
[FULL ARTICLE…Revisit Your Asset Allocation] 
Calculating Your Investment’s Basis
Your capital gain or loss on the sale of an investment equals the proceeds from the sale less your basis (the cost of acquiring the investment). When you purchase an investment, your basis equals the price you paid plus any fees or commissions. While the calculation is fairly straightforward, other factors can affect your basis calculations.
[FULL ARTICLE…Calculating Your Investment’s Basis] 
Learn Income Tax Basics
The subject of income taxes is one that most people prefer to ignore. However, since income taxes are a significant expense for most taxpayers, you should come to grips with some basics about taxes.
[FULL ARTICLE…Learn Income Tax Basics] 

November 2014- Letter from the CEO

November 2014

Geof-Scanlon - Scanlon & Associates Employee Benefits BrokersThe Purpose of My E-Newsletter
I hope you enjoy receiving my e-newsletter.  It is intended to enhance and complement the personalized service that you already receive from me.  The e-newsletter’s main objective is to ensure, regardless of busy work schedules and travel plans, that each of my clients will receive at least a minimal amount of timely advice on a regular basis.  I also hope it will stimulate your thinking on issues related to your personal finances by providing you with articles on a variety of financial topics.  Please feel free to call or e-mail me with any questions or comments, particularly with regard to the applicability of a given idea to your personal situation.

 

Please be liberal in sharing this e-newsletter with your colleagues and friends.  Feel free to call or e-mail me with the names and addresses of people who might enjoy receiving their own copy of this e-newsletter.
 

Reassess Your Retirement Plans
Approximately five years before you plan to retire, thoroughly reassess your retirement plans and ensure that all significant financial pieces are in place. Once you retire, you probably won’t have the option of changing your mind and going back to your former job. So before you actually retire, consider these points.
[FULL ARTICLE…Reassess Your Retirement Plans] 
How Much House Can You Afford?
Even after the Great Real Estate Crisis of 2008, buying a house is still a key part of the American dream. Whether you’re dipping your toes into the real estate market for the first time or are a current homeowner looking to buy a new place, there’s one big question you need to ask yourself: How much house can I afford?
[FULL ARTICLE…How Much House Can You Afford?] 
Municipal Bonds: What You Should Know
Municipal bonds are critical financing tools for state and local government entities. But are they the right place for you to invest? In addition to the income stream that municipal bonds generate is another benefit: they are tax-advantaged. For the vast majority of municipal bonds, interest received is not subject to federal tax.
[FULL ARTICLE…Municipal Bonds: What You Should Know] 
Debt and Your Retirement
Most people’s vision of retirement not only involves freedom from work but also freedom from debt. A debt-free retirement is a laudable goal, but it’s one that has become increasingly difficult for many to achieve: two-thirds of people between the ages of 65 and 74 have some form of debt (Source: University of Michigan Retirement Research Center, September 2013).
[FULL ARTICLE…Debt and Your Retirement] 
Borrow Wisely
Use debt only for items that have the potential to increase in value, such as a home, college education, or home remodeling. Avoid incurring debt on items like clothing, vacations, or other luxuries.
[FULL ARTICLE…Borrow Wisely] 

October 2014- Letter from the CEO

 October 2014

Geof-Scanlon - Scanlon & Associates Employee Benefits BrokersThe Purpose of My E-Newsletter
I hope you enjoy receiving my e-newsletter.  It is intended to enhance and complement the personalized service that you already receive from me.  The e-newsletter’s main objective is to ensure, regardless of busy work schedules and travel plans, that each of my clients will receive at least a minimal amount of timely advice on a regular basis.  I also hope it will stimulate your thinking on issues related to your personal finances by providing you with articles on a variety of financial topics.  Please feel free to call or e-mail me with any questions or comments, particularly with regard to the applicability of a given idea to your personal situation.

 

Please be liberal in sharing this e-newsletter with your colleagues and friends.  Feel free to call or e-mail me with the names and addresses of people who might enjoy receiving their own copy of this e-newsletter.
 

Life Insurance for Risk Management
When it comes to planning for your future and managing income and investment risk to provide for your family, it’s safe to say you have a lot of competing priorities. That’s why many of today’s complex life insurance options are designed to address multiple needs in one contract.
[FULL ARTICLE…Life Insurance for Risk Management] 
Six Rules for Deducting Charitable Contributions
8% of American households donate to charities. In 2012, individuals donated $223 billion, while foundations and corporations gave another $93 billion. Why? Mostly because they care about the organizations to which they donate, though tax deductions for charitable gifts may influence some people to donate, or donate more, than they would otherwise.
[FULL ARTICLE…Six Rules for Deducting Charitable Contributions] 
Pump Up Your Retirement Savings
Don’t give up on your retirement goals if you find you’ve entered middle age with little to no retirement savings. Sure, it may be harder to reach your retirement goals than if you had started in your 20s or 30s, but here are some strategies to consider…
[FULL ARTICLE…Pump Up Your Retirement Savings] 
Caring for an Aging Parent
As life expectancies continue to increase, it becomes increasingly likely that you may need to help an aging parent financially. If you find yourself in this situation, review the tax laws to determine whether you qualify for some tax relief. The key is to determine whether you can deduct your parent as a dependent, which entitles you to an additional personal exemption on your tax return, reducing your taxable income by $3,950 in 2014.
[FULL ARTICLE…Caring for an Aging Parent] 
Changing Life Insurance Needs
Your life insurance needs will typically change over the years, requiring adjustments. For instance: Just starting out — Young, single adults may have little need for life insurance. With no major debts and no one else counting on their income, the death benefit provided by life insurance may not be needed.
[FULL ARTICLE…Changing Life Insurance Needs]