How to Prepare to Work With Disabled Individuals

If you’re someone who is consistently involved with community service, the chances are that your volunteering efforts may sometimes put you in contact with disabled individuals. There seems to be inherent anxiety many individuals have about working with disabled individuals. Whether it be a lack of exposure to these disabilities or the fear of doing something wrong, these barriers often stop many people from pursuing this type of volunteer work. But no matter how people feel about this type of volunteering, the need remains. Read below to discover how to prepare to work with disabled individuals.

Educate Yourself

One of the most important things you can do to prepare for working with disabled individuals is to educate yourself as much as possible. Depending on a person’s disability, you’re going to have to learn how to communicate effectively with them. This doesn’t mean you have to learn every single aspect of their disability within a night, but it is important to teach yourself some basic principles and communication techniques. If you’re unsure how to educate yourself, you can do some browsing on the internet and find helpful scholarly articles written by individuals who have done years of research.

Avoid Exclusive Language

As you’re preparing to work with disabled individuals, you’ll also need to begin paying more attention to your vocabulary. You may not realize that some of the terms you use are deemed offensive by others. Avoid using language such as “wheelchair-bound,” “handicapped,” “suffering from” and other terms that could come off wrong. Your language style will need to be appropriate to reduce the possibility of offending anyone. In concordance with adapting your language, you’ll also need to make sure you are never assuming anyone has a disability or trying to diagnose them yourself, especially if you are not in the medical profession. 

Develop a Positive Attitude

Approaching your volunteering position with a positive attitude will enable you to serve others well. After having educated yourself on how to interact with and address individuals with disabilities, you might still feel weary that you’ll make a mistake. But this prior research only goes to show the commitment you have to the volunteering project and the other individuals involved. At this stage, the next best thing you can do is to develop a positive attitude, looking forward to volunteering. The more positive you appear, the more likely your efforts are to permeate the community and inspire others to educate themselves to best interact with disabled individuals as well.

This article was originally published on SylvesterKnox.org

Retirement Expectations Post-COVID

Since the pandemic started, many people have focused on the future and the changes they’ll have to make in their retirement plans.

Although the pandemic has affected some people’s financial status, many others have been able to maintain their savings. They’ve also withdrawn some of their funds to pay their bills.

Ups and Downs

A study conducted by Fidelity Investments in 2021 revealed that more than two-thirds of American workers believe that the pandemic affected their retirement plans.

Of those respondents, 33 percent predict it will take three years to get back on track after the pandemic.

Although many of them are still facing financial issues, most of the respondents are confident that they can still retire comfortably.

Melissa Ridolfi, a senior vice president at Fidelity Investments, noted that it’s good to see that the retirement plans of Americans are still sound. Despite the challenges they’re facing, the majority of people still believe they can retire comfortably.

Ridolfi noted that the company’s record-breaking levels of planning engagements demonstrate the faith many people have in their financial future.

Staying the Course

Only 22 percent of workers have adjusted the age at which they plan to retire. Many of them are planning on delaying their retirement by a couple of years. According to a survey conducted by the Employee Benefit Research Institute, about 5 percent of the respondents are planning on retiring sooner than they intended.

Despite the various changes in the labor market, the majority of workers still believe that they can still retire comfortably. However, the pandemic has affected the ability to save for retirement. About 3 in 10 of the respondents stated that their savings have been affected by the pandemic.

Some Saw a Good Year…

Many workers who were not laid off or had their hours reduced during the economic shutdown were able to save a huge sum of money. They could also use this windfall to fund their child’s education or travel.

In the past year, about 30 percent of workers have made changes to their retirement plans. This number includes those who increased their contributions or stopped them entirely.

According to Copeland, about a million workers have withdrawn from their retirement plans in the past year. They were affected by various factors, such as the availability of a loan.

…Others Not So Much

The impact of the pandemic on the US economy was estimated to have resulted in the loss of around 10 million jobs by the end of 2020.

A survey conducted by the EBRI revealed that about 18 percent of the workers who were not permanently laid off experienced a reduction in their hours or pay. Ten percent of them were temporarily laid off.

According to Ridolfi, planning for retirement can help people stand out from the crowd and feel more secure in their future.

This article was originally published on SylvesterKnox.net

Financial Mistakes to Avoid After a Partner Loss

A family member’s death is a difficult time. It can also lead to many financial decisions that are necessary to support the surviving family members.

It can be overwhelming to plan ahead and manage all of the details. To reduce stress, here are some simple steps to help minimize it.

Seek Help from the Professionals

To get started, contact a financial advisor for a free consultation.

Estate planning is a process that involves creating an estate plan and setting up a trust. This can be done using a will or a revocable trust.

If a spouse previously named a power of attorney or medical power-of-attorney, the surviving spouse should now contact their attorney to change their designation.

Get Necessary Paperwork Together

Follow this process to get a certified copy of the death certificate. Photocopies are usually not accepted by insurance companies.

If required, you should also get a certificate of appointment to act as the personal representative of the estate.

Follow these steps to consolidate all of the accounts associated with the individual. Open an estate checking account to pay bills and receive assets from the settlement of the estate.

You can also find a local notary to complete the necessary steps. Some of the paperwork may require a medallion signature guarantee.

Update Your Financial Accounts

You can also update the beneficiary designations and ownership of joint financial accounts by contacting various financial organizations.

To close a single-owner financial account, contact the bank or another financial institution to transfer the account’s assets. Also, update the beneficiary’s names and insurance policies to prevent them from being stolen.

Update and Manage all Real Assets

Follow the steps to ensure that the assets of the deceased person will be maintained after the settlement of their estate.

Explore Third-Party Benefits

You can also receive survivor benefits from the Social Security Administration. Also, be sure to contact the former employer for details about their retirement plan and other benefits. You can also look into the burial costs of former military service members.

You Aren’t Alone; Support is Available

Your financial advisor can help you plan for the future and minimize the financial implications of experiencing a death.

If someone you know has experienced a significant loss, consider referring them to a financial advisor. According to a study, 4 in 10 people believe that their financial advisor can help them manage their financial situation.

This article was originally published on SylvesterKnox.net

Cryptocurrency Donations on the Rise

Cryptocurrency is becoming a valuable fundraising tool for nonprofits, helping them raise money in new ways.

Five years ago, digital currencies first appeared as a method of transferring money to charity. In 2017, the anonymous creator of a Pineapple Fund, a nonprofit project, gave over 5,104 bitcoins to charity.

Since then, the market for digital donations has grown, with new intermediaries helping donors send cryptocurrency gifts.

Although few West Michigan nonprofits are actively accepting crypto donations, Dorothy A. Johnson of Grand Valley State University says that the emerging trend is worth watching.

Julie Couturier of the Johnson Center thinks that the trend could become a major revenue source for many nonprofit organizations.

She attributes the wealth of people who are starting to give in cryptocurrency to the increasing number of people who are adept at navigating the crypto market and donating to charity.

Unlike stocks, cryptocurrency donations are not subject to capital gains taxes. They can also be treated as appreciated assets like real estate. 

According to Couturier, giving in cryptocurrency is also a favorable reason for people to donate. It can make international transactions easier and less time-consuming.

Cryptocurrency donations to charity have increased significantly in the past couple of years. According to the Johnson Center, their total reached almost $30 million in 2020.

On the donor side, crypto-based donor-advised funds can keep individuals anonymous even as transactions are recorded and viewable on the blockchain. 

The transparency benefits of crypto-based funds are also helping address the concerns of traditional donors.

Although the potential for growth in the cryptocurrency market is promising, it can also be very risky due to its volatility. For instance, Bitcoin’s value has continuously declined since November.

According to Couturier, managing the volatility of the market can be a daunting task for a nonprofit. Aside from handling multiple currencies, it also requires deep knowledge of how to use and manage cryptocurrency.

Aside from volatility, handling digital currencies can also be challenging for nonprofit organizations.

Exploring the Potential

Through third-party intermediaries, such as The Giving Block, nonprofit organizations can benefit from the ease of accepting cryptocurrency donations. According to The Giving Block, the total value of cryptocurrency donations has reached more than $300 million annually.

In November, it was reported that 13 Michigan-based nonprofit organizations had joined The Giving Block. One of them is Kids’ Food Basket, which became the first organization in the region to accept cryptocurrency donations.

The decision to join The Giving Block was made by Kids’ Food Basket’s COO Afton DeVos to explore new ways to support their mission. She noted that accepting cryptocurrency donations was a great opportunity to expand their reach and provide a better way to donate.

After carefully weighing the costs and benefits of accepting cryptocurrency donations, DeVos said that they were comfortable with the decision to join The Giving Block.

Despite the number of nonprofit organizations that are accepting cryptocurrency donations, Keith Hopkins, a fundraising consultant, noted that West Michigan is still a long way from fully accepting crypto giving.

Despite the number of nonprofit organizations that are accepting cryptocurrency donations, Hopkins noted that some may still be prone to accepting fraudulent gifts.

While it’s still relatively rare for nonprofit organizations in West Michigan to accept cryptocurrency donations, Couturier said that they should start to include it in their policies.

This article was originally published on SylvesterKnox.org

Investment Ideas for Beginners

Investing is a great way to turn your money into even more money. It’s also a great way to plan for your retirement. But some investments are riskier than others. If you’re new to investing, you’ll probably want to focus on low-risk investments.

Here are four investments for those who are investing for the first time.

Certificate of Deposit

A certificate of deposit (CD) offers interest on money deposited into the CD. It’s similar to a high-yield savings account, except you must maintain the CD for six months, one year, or five years. You’ll temporarily lose access to the cash, but you’ll gain more interest than with a typical interest-bearing savings account. Accessing the money before CD maturity will cost you a penalty.

High-Yield Savings Account

A high-yield savings account offers interest on the money in your savings account. Your current bank probably has a high-yield savings account option. The interest on this type of account is generally less than you earn from a CD. But you maintain access to the funds in a high-yield savings account. There is also no set limit for how long you must maintain the account. However, most banks limit how many withdrawals you can make in a month.

401(K) or Roth 401(K)

A 401(K) or a Roth 401(K) offered by your job provides a simple way to start investing. Contributions to a 401(K) occur before taxes, and the investment grows tax-free until you retire. Contributions to a Roth 401(K) occur after taxes. And there are no taxes due on withdrawals when you retire.

Stocks

Investing in stocks is riskier than the methods mentioned above. However, stock investing has the potential to offer great returns. Before investing in any business, learn all you can about that business. Most people invest in stocks for the long term, which usually means holding a stock for around five years.

Important Investment Rule

When dealing with investments such as stock, never invest more than you can afford to lose. Also, make sure to keep a portion of your funds available for immediate use. For example, avoid putting all of your savings into a CD. Keep some funds in an accessible account that you can access at a moment’s notice.

This article was originally published at SylvesterKnox.net

Financial Mistakes Common in your 30’s

This article will go over some of the mistakes people make in their 30’s that can lead to more financial problems. Although it’s not possible to avoid all mistakes, by learning from these, we can minimize the amount and grow rich!

Social Competition With Peers

Everyone wants to be the best, as a child or teen it is easy to see who’s the best in sports or looks. As we age through our 30’s, it often becomes more about money and social standing than physical performance. This is not a bad thing, but we should work hard and earn our money. However, what can become an issue is if too much of your financial decisions are based upon what your friends or co-workers make at their jobs. The more you spend on social status (a big house or fancy car, etc.), the less you may save and invest.

Not Creating A Budget But Just Spending

In our youth, we often spend without thinking about the consequences. We spend on toys and food and pay for bigger trips on the weekends. As we get older, our spending habits are sometimes out of control. This can lead to financial problems over time. If you buy too much food, clothes, and entertainment that you don’t need, then you won’t have money to save for retirement or your kids’ college education.

Lacking Emergency Fund Savings

There are never guarantees that you will get a raise or find a better-paying job, so it’s always wise to put money away for an emergency. In your 30’s, it is also a good time to make sure your debt is under control and have an emergency fund (a few thousand dollars) in case of illness or job loss. The easiest way to accomplish this is to automate your saving by having money taken out of your paycheck, you won’t miss it, and it will grow into something big over time.

Overspending On A House

Many people will be able to get a mortgage on a good house that’s in the right neighborhood, or maybe it’s a condo your parents bought as a second home. Either way, you are committing to paying for an expensive real estate purchase with no guarantees that you will be able to sell the home in 3 years. Many people spend too much money on the house and then later realize they made a mistake by spending too much money on something you can’t sell.

This article was originally published at SylvesterKnox.net

Risk-Free Fundraising Ideas

Every organization that relies on donations has to find fundraising ideas that it can use to bring in money. Some do not want to invest too much in the fundraising work that they do, and there are risk-free options available for those people.

Set Up a Virtual 5K:

There are many virtual events that take place today, and they provide organizations with the chance to receive donations without actually putting on an in-person event. A virtual 5K gets people excited about exercising and can bring in good money for an organization.

Provide Online Teaching for a Low Cost:

If an organization has many knowledgeable people volunteering for it, some of those people might be asked to put on online classes to bring in donations for that organization. All kinds of skills can be shared online to raise money.

Ask for Donations and Put on a Sale:

There are people who are looking to part with gently used clothing, books, and household items. An organization can ask for such items and then put on a sale to bring in donations.

Put Together an Online Video Game Tournament:

An online video game tournament is similar to a virtual 5K, as it allows an organization to put together an event online and get people excited about competing and raising money.

Ask Supporters to Give Up Something They Regularly Spend on and Donate Instead:

An organization might put on a challenge for all of their supporters, asking them to go a week without something that they regularly purchase. Some might give up coffee and others might pack a lunch instead of going out to eat. Supporters will be asked to donate the money that they save by not making their usual purchases.

Use Social Media to Seek Out Help:

The more active an organization is on social media and the more followers that they have there, the more risk-free fundraising opportunities they will have available to them. Social media can be used to connect with supporters and bring in donations in a number of ways.

There are Options for Fundraising that Don’t Require a Big Investment:

With a little planning, an organization can raise money without investing a lot of what they have and risking losing that.

This article was originally published on SylvesterKnox.org

What is your 2022 Investment Strategy?

The markets have been volatile over the past few years, making it a difficult environment in which to plan a long-term investment strategy. However, someone needs to start thinking about their plan for 2022 now to capitalize on opportunities and minimize risk. Here are some tips for preparing one’s portfolio for 2022:

Review the equity allocation and diversify across geographies

Geographical diversification can reduce volatility, as different regions will be affected by varying economic factors. This can enable one to reduce the impact of global shocks on their portfolio and capitalize on dramatic growth potential in emerging markets.

Consider investing in different types of assets

The traditional portfolio has included cash, stocks, and bonds; however, more exotic asset classes, such as real estate or hedge funds, may have the potential to diversify even further. Investing in more than one of these assets can help smooth out returns and reduce risk.

Have a plan for when to rebalance

Rebalancing is the process of selling the investments that have gone up in price and buying more of those with lower prices. This can help to correct any over or underweights and keep the portfolio on track.

Review the underlying investments

The investments held in a portfolio can change over time. All funds, securities, and stocks will have different risk profiles, so it’s essential to periodically review these holdings and make sure the portfolio still matches the investor’s risk tolerance.

Address any cash buildup

With interest rates at historic lows, investors may see a considerable amount of their savings sitting in cash. However, holding too much cash can actually reduce portfolio returns, as it earns a lower rate of return than most other assets. It may be necessary to reinvest this money to achieve the desired growth.

Have a plan for taxes

Taxes can take a significant chunk out of returns, so planning is important. For example, utilizing tax-advantaged accounts can help reduce the amount of taxes paid on investment income.

Stay informed

A plan for 2022 should include investing in high-quality research that can provide one with an understanding of the latest industry trends. BlackRock has written many helpful guides on the global economy, specifically aimed at helping investors understand what opportunities are opening up in different regions. This can help make better investment decisions and stay ahead of the competition.

No one can predict the future with certainty, but planning ahead is one of the best ways to ensure success. By following these tips, an investor can put themselves in a strong position to capitalize on opportunities and navigate any market volatility that may arise.

This article was originally published on SylvesterKnox.net

How to Start the New Year Fresh, Financially

Financial planning is essential for a successful new year. Without a plan, it can be easy to let the finances get out of control. Financial wellness gives people peace of mind and is the first step to living financially healthy. That is why many people have this as part of their new year’s resolutions. There are a few things that one can do to help get their finances in order.

One Should Prioritize Their Wellness

The first step to getting one’s finances in order is to prioritize their wellness. This means that they should have a plan for what they want to achieve and put themselves first. One cannot expect to be successful if they do not take care of themselves. This is the same for finances; if one wants to be successful throughout the new year, they need to put their financial wellness first.

Revisit Household Budget

One should also revisit their household budget. This is because many people forget about the expenses of life, and they get themselves into financial trouble this way. By going through all of one’s monthly expenditures, it will be easier to find ways to cut back on them so that more money can go towards other things such as savings or investing.

Set Aside an Emergency Fund

It is essential that one has an emergency fund. This means that they need to have at least three months of living expenses saved up in case something happens and they lose their job or face a large unexpected expense. Having this money set aside will give them peace of mind knowing that if something does happen, it won’t send them into financial ruin.

One Should Not Lose Track For Their Goals

When making a new years resolution, one must stick to them throughout the year. When people lose track of their goals or let time pass by with no results, they can get discouraged and give up on changing for the better. By keeping track of what one wants to achieve and setting smaller goals along the way, so they know when they are making progress, one can successfully change their habits for the better.

People Should Invest in Ways That Matter To Them

When it comes to investments, it is important that people invest in things that matter to them. This could be anything from a mutual fund, stocks, or real estate. Doing this will help one feel more connected to their money, and they will be less likely to lose it all if the investment does not go well.

This article was originally published on SylvesterKnox.net

Fundraising Tips for 2022

It can sometimes be challenging to know what trends will play out in the future fundraising arena. However, some trends can be identified early on, and it is advisable to note them so that fundraisers can best prepare for future fundraising campaigns. Here are the top fundraising trends for 2022.

Tech-Savvy Senior Donors

Technology is an integral part of today’s fundraising. From online donation sites to text messaging, fundraisers need to be technologically adept in dealing with their donors. Today’s senior donors are tech-savvy and, therefore, prefer a donation via a smartphone. This means fundraisers would have to ensure that their fundraising tools are accessible on mobile devices and capture all donations for later processing.

Social Media Fundraising

Since the early days of social media, fundraisers have understood the good that can be done with this medium. Today’s seniors are big on social media and would like to have a say in their communities via platforms such as Facebook, Twitter, and Instagram. Consequently, more fundraisers are using these platforms to engage with donors.

SMS Fundraising

SMS fundraising involves messaging donors via shortcodes on their cell phones. This means fundraisers can use their mobile devices to message donors about the fundraising and ask for donations. Fundraisers would need to ensure that they have a robust SMS platform capable of sending messages immediately after the fundraisers have left a message.

Email Marketing

Donors prefer to be communicated via email, and this is a great way for fundraisers to keep their donors up-to-date with their fundraising progress. Fundraisers should use email marketing software and ensure that it can be customized to the tastes of all their donors.

Digital Fundraising

Technology will be playing an even bigger role in the future of fundraising. Fundraisers would realize a big fundraising boost if they could use technology. This includes using virtual reality, augmented reality, and artificial intelligence.

Conclusion

With the trends listed above, it is clear that technology will be playing a big role in the future of fundraising. Therefore, fundraisers will have to ensure that they are ahead of the curve in technology.

This article was originally published on SylvesterKnox.org