The Neyland Report
Earning - Thriving - Giving Back

Weekly Focus

UPDATE FROM JOHN C. NEYLAND

In our ongoing effort to keep you informed and up to date, here is the latest in John’s video series. Right now in this bear market, there are a number of moves you should avoid, and John has put together his list of “10 BEAR MARKET NO’s” — email us at info@jcnfinancial.com for your copy. Most of all, John wants you to remember that if you buy stocks right now you are speculating, rather than investing. Find out why — watch:

UPDATE FROM JOHN C. NEYLAND

Here at JCN Financial and Tax Advisory Group we are constantly monitoring the financial markets. Our goal is to keep you informed and educated about how your money is working

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SIX WAYS TO STAY PRODUCTIVE WHILE SHELTERING IN PLACE

    SIX WAYS TO STAY PRODUCTIVE WHILE SHELTERING IN PLACE

As we all learn the nuances of social distancing during the COVID-19 pandemic, many of us will be spending a lot more time at home. Instead of becoming a couch potato and developing “cabin fever,” there are a number of activities you can participate in that you may not otherwise think of. Staying home, you may have a bit more time on your hands. Here are our top 10 suggestions:

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HOW TO SURVIVE A LATE CAREER JOB LOSS

    HOW TO SURVIVE A LATE CAREER JOB LOSS

You have probably heard that old John Lennon quote: “Life is what happens while you are busy making other plans.” Some older American workers unexpectedly find out the wisdom of that statement when they lose their jobs late in their careers. Despite all the plans you make for retirement, and the financial strategy you put together for your post-career years, sometimes a premature loss of a job can force you to change course. The one thing you can control is how you prepare for a job loss, and what to do once it happens. Taking a proactive approach can save a lot of heartache later, but there are ways to navigate a late career job loss even if you have not prepared for it.

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NOW YOU CAN TAKE AN ONLINE COURSE IN HAPPINESS!

  NOW YOU CAN TAKE AN ONLINE COURSE IN HAPPINESS!

C’mon…get happy! Easier said than done right now, we know. But now Yale University offers an online course in happiness. That may sound like an unlikely idea, but the course has been available online for about two years now, and more than 1200 people have signed up during that time. The course is available to you through Coursera, an online learning platform that has been offering courses since 2012.

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TAX ALERT: YOUR SOCIAL SECURITY BENEFITS ARE SUBJECT TO FEDERAL INCOME TAX

  TAX ALERT: YOUR SOCIAL SECURITY BENEFITS ARE SUBJECT TO FEDERAL INCOME TAX

If you are retired or looking forward to retirement, you are probably going to receive Social Security benefits. Many people are surprised to find out that your benefits are actually taxable. Some people will pay taxes on Social Security and others will not. It all depends on your total income, including your Social Security benefits.

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“JOB INTERVIEWING 101” FOR OLDER WORKERS

  “JOB INTERVIEWING 101” FOR OLDER WORKERS

If you are in your 50s or older, the job market can be a tricky place to navigate. Mature workers changing jobs, or ending a period of unemployment have to do some careful planning and research. It is also important to have a real understanding of what persuades an employer to hire an applicant who is somewhat older than most of the staff. Last week we offered some useful tips on creating you resume. But even with the best planning and a great resume, your face to face meeting with the hiring agent may be the real key to landing the job. Here are a few tips that may help you ace your interview:

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HOW DOES THE FED’S INTEREST RATE CUT AFFECT YOU?

  HOW DOES THE FED’S INTEREST RATE CUT AFFECT YOU?

After three interest rate cuts in 2019, the conventional wisdom was that the economy was stable and strong, and the interest rate might remain at 1.75 percent for some time to come. However, concerns that the spread of the Corona virus might negatively affect not just the U.S. economy, but the financial standing of all developed countries, spurred the Fed to make another one-half point cut. This time, presumably, the reduction is intended to bolster the economy and encourage spending. Now that the interest rate stands at 1.25 percent, here are a few ways it could affect you:

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“RESUME WRITING 101” FOR OLDER WORKERS

  “RESUME WRITING 101” FOR OLDER WORKERS

The dilemma: You find yourself searching for a new job, and you are over 55. While ageism is alive and well in the job market, first impressions count heavily. Your first impression is often your resume, which potential employers see long before you (hopefully) meet them face to face. Your resume is your primary marketing tool, with the single goal of persuading an employer to want to meet you. Here are some useful tips for older workers to create a winning resume:

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Financial News
    COVID-19 LEGISLATION THAT AFFECTS YOU

COVID-19 LEGISLATION THAT AFFECTS YOU

Now that the stimulus package has been passed by the Senate, it is important for you to know about a few legislative moves that may directly affect you:

Included in the current stimulus package is a relief effort for those withdrawing money from their 401K plans. Under the new legislation, the maximum withdrawal amount has not increased to $100,000. It also waives the 10 percent penalty for early withdrawals. The no-penalty allowance applies to “coronavirus-related distributions” for people who are diagnosed with COVID-19 or have experienced financial hardship from quarantine, layoffs, reduced hours, or furlough between now and December 31, 2020. Distributions will still be included in gross income and subject to regular income tax but can be spread out and taken over three years.

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Fitness News
    STRENGTH SCIENCE STUDIOS UPDATE

STRENGTH SCIENCE STUDIOS UPDATE

STRENGTH SCIENCE STUDIOS may be temporarily closed but we want you to stay strong and fit while you are home. We will be posting videos over the coming days with exercises you can do in the comfort of your own home until it is safe for us to welcome you back to the Studio.

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Giving Back
    Fast Facts About Charitable Giving

Fast Facts About Charitable Giving

When giving to charitable organizations, some people elect to support through cash donations. Others, however, understand that supporting an organization may generate tax benefits. They may opt to follow techniques that can maximize both the gift and the potential tax benefit. Here’s a quick review of a few charitable choices:

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UPDATE FROM JOHN C. NEYLAND

Here at JCN Financial and Tax Advisory Group we are constantly monitoring the financial markets. Our goal is to keep you informed and educated about how your money is working

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John’s Corner

JCN HONORED

JCN FINANCIAL NAMED TO TOP ADVISERS LIST

JCN Financial and Tax Advisory Group has been named one of the Best Financial Advisers in Baton Rouge for 2019. This honor is bestowed upon us by Expertise, the organization that uses proprietary research to find the best service providers across the country. We thank Expertise for this honor. If you are a current client of JCN, or a potential client, we encourage you to meet with one of our advisers whenever you are ready to discuss your finances. Let us offer you our expertise. Call  877-755-0488 for an appointment.

Live the Life You’ve Yet to Dream

Every person’s life story is unique, but some are more dramatic than others. John Neyland’s story is one of challenges and obstacles that began when he was a small child. Neyland’s childhood was fraught with violence, routinely perpetrated by his rageful father.

There were repeated instances of attacks on Neyland and his siblings, with some of the most extreme acts committed against his mother. Neyland’s mother turned to alcohol and suicide attempts to cope with her husband’s behavior, and her fear and frustration about the family’s finances.

If that were not enough to complicate his life, while he was in his teens, Neyland developed one of the worst cases of Obsessive-Compulsive Disorder his doctors had ever seen. Despite the circumstances that would stunt another person’s emotional and psychological growth, Neyland rose above all of it to create successful businesses, a strong, loving family and an ongoing determination to help as many people as possible along his path.

All of this is well-documented in Neyland’s memoir, “Live the Life You’ve Yet to Dream.” If you want to know what a real page-turner really feels like, click the link above to purchase one of the most inspiring books you may ever read.

Other Voices

TAX DAY DELAYED FOR 90 DAYS

Treasury Secretary Steven Mnuchin announced that tax day will be delayed from April 15 to July 15. You can still file early if you expect a refund and you will receive the funds as soon as your return is processed.
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WHAT THE FED’S INTEREST RATE CUT MEANS FOR YOU


In an emergency move, the Fed has cut interest rates to zero. Here is what that means for you.
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HOW TO GET YOUR STIMULUS CHECK


As Congress pushes through a $2 trillion stimulus bill, some Americans can expect checks from the government to help them cope with the economic devastation stemming from the coronavirus crisis. Those payments are expected to be $1,200 for individuals, or $2,400 for those who are married and file income taxes jointly. It also includes $500 per child. Here are the required qualifications.
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BATON ROUGE RANKS HIGH IN SAFETY REPORT


The National Council for Home Safety and Security (NCHSS) released a nation-wide ranking of the safest cities, putting Baton Rouge in the top 25 for Louisiana.
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HOW TO TRANSFER HEIRLOOM REAL ESTATE


The inclination of most people is to leave the real estate in their wills to their children jointly, much as they do with the rest of their estate. That’s usually not a good move for heirloom real estate for a variety of reasons.
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10 Retirement Stats Every Baby Boomer Should Know


Did you know that 41 percent of Baby Boomers have no money saved for retirement? More than 25 million seniors live at or below the poverty lines. Some of the stats for U.S. seniors care alarming.
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AMAZON CENTER COMES TO BATON ROUGE


A site plan for the South Baton Rouge AMAZON Distribution Center received unanimous support from the East Baton Rouge Planning Commission. The plan calls for a 111,918 square foot distribution center off I-10 behind the Bethany Church crosses.
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WHY YOUR IRS REFUND MAY BE DELAYED


Did it take way too long for the IRS to issue your tax refund last year? It turns out it is not your fault – new filters and screenings the agency uses may cause certain refunds to be held up for months.
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WHY YOUR CREDIT SCORE MATTERS


Do you keep track of your credit score? If not, there are good reasons you should. Here is some good advice, and information on a new method that will be used to calculate your score, starting this coming summer.
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MEDICARE CHANGES FOR 2020

There are more than 850,000 Medicare recipients in Louisiana, and if you happen to be one of them, you need to know about the changes coming in 2020.
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HIGHER 2020 401K CONTRIBUTION LIMITS


How much can you save for retirement in 2020? The Treasury Department has announced inflation-adjusted figures for retirement account savings for 2020: 401(k) contribution limits are up; traditional IRA contribution limits stay the same; almost all the other numbers are up.
Save more – earn more

HOW STOCKS PERFORM IN ELECTION YEARS


Election Day is a year away, and stocks are poised to keep rising over the next 12 months with an incumbent in office – that is, if history is any indication. Since 1952, the Dow Jones Industrial Average has climbed 10.1% on average during election years when a sitting president has run for reelection, according to the Stock Trader’s Almanac.
Bull market continues

Retiring Abroad

More Americans than ever are choosing to retire out of the U.S. The number of retirees who draw Social Security outside the U.S. jumped 40%, to more than 413,000, between 2007 to 2017, according to the Social Security Administration.
Why are retirees fleeing the U.S.?

Baby Boomers Real Estate Trends

There has also been a 31% increase in the number of older owner households. But renting seems to be trending more than buying in the last years, especially for the growing elder age group which is making its presence known in the real estate market.
The 60 and older generation is taking over the real estate market

Baton Rouge Named on Top Retirement Cities List

It comes as no surprise that Baton Rouge has been named one of the top 20 cities in the U.S. for retirees. As senior populations continue to grow, every part of the country will become more senior-dominated, but some more than others. Now the rest of the country is finding out what we already knew – Baton Rouge rocks!
Retirees Thrive in Baton Rouge

What You May Not Know About Social Security

Social Security benefits are based upon how much was earned during your working career. Choosing when to receive these benefits is one of the most important financial decisions you will make. If you choose to retire when you reach your full retirement age, you will receive your maximum benefit amount.
All About Your Benefits

Do you speak credit card?

Deciding which credit cards to apply for has become a bit complicated. Who offers the best deal on miles? What about points? Is there a cashback feature? Annual fee? Before you decide on a card, get to know the meaning of all the terminology associated with credit cards. The more you know in advance, the better the deal you will probably find.
Credit Card Terms We All Should Know

Are You Ready for Retirement?

 

The Annual Transamerica Retirement Survey explores attitudes about retirement and retirement readiness among American workers. Since 1998, Transamerica Center for Retirement Studies® (TCRS) has conducted a national survey of U.S. business employers and workers regarding their attitudes toward retirement. You may be surprised at some of this year’s survey findings. If you are retired or retiring this year, this is a must read.
What is “Retirement”? Three Generations Prepare for Older Age

Reverse Mortages

Reverse mortgages, loans for people age 62 and older, allow seniors to convert home equity into cash. Are you still confused about how a reverse mortgage works? Find out the pros and cons of this type of plan.
Considering a reverse mortgage?

Working while receiving Social Security

If you plan to keep working after you start receiving Social Security, there are important items you should know. How much can you earn? Is there an earnings limit? Will your benefits be withheld if you earn too much? Find out what you need to know before you make your decision.
What happens if you work while receiving Social Security?

25 Fast Financial Fixes

Money is tight and you’ve done everything possible to cut your expenses, right? Not so fast. Here are 25 quick financial fixes that you may not have considered yet.
25 Fast Financial Fixes