Search Results

As an owner-operator, one of the most important pieces of your business that you need to manage is your cash flow. How much money (cash) you have coming in, versus how much money you have going out for your business & home expenses. It is crucial for the longevity of your business that you are not consistently running low on cash each week. It’s been said that in business, your cash flow is the fuel gauge of your business. If that cash flow gauge is running on “E” too frequently, you are setting yourself & your business up for failure. It’s fitting then, that in this analogy, fuel can be one of the most important factors in managing your cash flow for your business. When should you fill up your fuel tank? One of the common problems we see from drivers is the timing of fueling up, and the death spiral of cash advances it can create due to a lack of cash flow. Whether you're just starting out and short on funds or trying to recover after a large truck expense, it’s important to try to time your fuel-ups with your settlements/pay. Too often we see drivers making the mistake of filling up right before their settlement payday. Fueling up a nearly empty big rig can cost over $500. This isn't an issue if you have your cash flow “topped off” with plenty of money in the bank. However, if you are running low on cash, and choose to fill up right before you know exactly what your pay will be, it can be very difficult to budget appropriately. Often there can be times where expenses show up larger than anticipated on a settlement sheet, and without getting the funds first to know what money you have to work with, you may be putting yourself in a tough spot. We frequently see drivers unnecessarily top off their truck right before settlement day. When this large fuel expense is factored into their settlement pay, it ends up leaving them short of what they will need in order to stay afloat cash-wise for the next week. Typically this will lead to the driver needing to take a cash advance in order to keep their truck/business operating that week. A better strategy could be to only fill your tanks up halfway or waiting until the day after settlements are finalized to preserve cash. Cash Advances & the Dangerous Death Spiral Cash advances & the dangerous death spiral of borrowing that money is one of the biggest reasons we see owner-operators fail. Oftentimes, we hear drivers say there is a feeling of “Free Money” regarding taking a cash advance. However, that “Free Money” is realistically very costly. By taking a cash advance you are effectively getting your future settlement pay ahead of time. This means you are on the hook to provide a service in the future to pay for that advance in cash. When that cash advance is taken out of your next paycheck, and you haven’t budgeted your cash flow appropriately, you may need to rely on that cash advance just to keep your business afloat. This is where a lot of drivers start getting into financial trouble. If the cash advance starts becoming mandatory for you to pay your business and personal expenses, it’s very hard to dig yourself out of that hole. Plan Your Fuel Ups Accordingly Bottom line, fuel is your biggest expense, but also the one you have the most control over. If you are implementing the tips given in our previous “Fuel Series” articles, and planning your fuel-ups in accordance with your pay schedule, you will be in great shape to start building a healthy cash flow for your business. After all, running on fumes can only keep you going for so long before the engine stops.

If you’re just starting out in your career, you will need to be prepared to face some financial challenges along the way – but here’s one that’s not unpleasant: choosing what to do with some extra disposable income. When this happens, what should you do with the money? Your decisions could make a real difference in your ability to achieve your important financial goals. Under what circumstances might you receive some “found” money? You could get a year-end bonus from your employer, a sizable tax refund, or even an inheritance. However the money comes to you, don’t let it “slip through your fingers.” Instead, consider these two moves: investing the money or using it to pay off debts. Which of these choices should you pick? There’s no one “right” answer, as everyone’s situation is different. But here are a few general considerations: Distinguish between “good” and “bad” debt Not all types of debt are created equal. Your mortgage, for example, is probably a “good” form of debt. You’re using the loan for a valid purpose – i.e., living in your house – and you likely get a hefty tax deduction for the interest you pay. On the other hand, nondeductible consumer debt that carries a high interest rate might be considered “bad” debt – and this is the debt you might want to reduce or eliminate when you receive some extra money. By doing so, you can free up money to save and invest for retirement or other goals. Compare making extra mortgage payments vs. investing Many of us get some psychological benefits by making extra house payments. Yet, when you do have some extra money, putting it toward your house may not be the best move. For one thing, as mentioned above, your mortgage can be considered a “good” type of debt, so you may not need to rush to pay it off. And from an investment standpoint, your home is somewhat “illiquid” – it’s not always easy to get money out of it. If you put your extra money into traditional investments, such as stocks and bonds, you may increase your growth potential, and you may gain an income stream through interest payments and dividends. Consider tax advantages of investing Apart from your mortgage, your other debts likely won’t provide you with any tax benefits. But you can get tax advantages by putting money into certain types of investment vehicles, such as a traditional or Roth IRA. When you invest in a traditional IRA, your contributions may be deductible, depending on your income, and your money grows on a tax-deferred basis. (Keep in mind that taxes will be due upon withdrawals, and any withdrawals you make before you reach 59½ may be subject to a 10% IRS penalty.) Roth IRA contributions are not deductible, but your earnings are distributed tax-free, provided you don’t take withdrawals until you reach 59½ and you’ve had your account at least five years. Clearly, you’ve got some things to ponder when choosing whether to use “extra” money to pay off debts or invest. Of course, it’s not always an “either-or” situation; you may be able to tackle some debts and still invest for the future. In any case, use this money wisely – you weren’t necessarily counting on it, but you can make it count for you. This article was written by Edward Jones for use by Greg Hall, Financial Advisor with Edward Jones. He can be contacted via email at greg.hall@edwardjones.com or via phone at 303-985-0045.

Do you smoke? Did you know smoking is the leading cause of preventable deaths in the United States with over 480,000 deaths every year from tobacco use and exposure to secondhand smoke? While the number of people who smoke has declined over recent decades, over 18% of the American population still smokes on a regular basis. Truck drivers are some of the worst offenders. Compared to the general adult population, commercial truck drivers live an unhealthy lifestyle. The job requires long hours, high stress, and physical and mental focus. Over 50 percent of commercial drivers smoke cigarettes and only 8 percent exercise regularly. No wonder the average life expectancy for a commercial truck driver is 61 years old. The New Year is right around the corner and it is the perfect time to start afresh. Millions of people set resolutions every year so why not be one of those people. The time to quit smoking is now. 5 Reasons to Quit Smoking Now: Improve Your Heart Health Smoking is one of the leading risk factors for heart disease. It damages your heart and blood vessels and increases your risk of atherosclerosis. Quitting has an immediate positive impact on your health. Your heart rate and blood pressure, which is abnormally high when you smoke, will begin to return to normal and you will reduce your risk of heart disease and stroke. Improve Your Respiratory Health Smoking almost always causes Chronic Obstructive Pulmonary Disease (COPD). In fact, 9 out of 10 COPD-related deaths are attributed to smoking. COPD is a serious lung disease where the airway walls become thick with mucus and block airflow making breathing harder and harder. Quitting smoking is the best way to reduce your risk of developing COPD and to improve the overall health of your lungs. Reduce Your Cancer Risk Tobacco use significantly increases your risk of developing cancers of the mouth, lips, nose, throat, stomach, kidney, and lung. Smoking is associated with 30% of all cancer deaths in the United States including about 80% of all lung cancer deaths. By quitting smoking you significantly reduce your cancer risks. Within 5 years your risk of developing mouth, throat, esophagus, and bladder cancer is cut in half. Within 10 years of quitting smoking your chance of dying from lung cancer is reduced by half. Save Thousands of Dollars Every Year Smoking is incredibly expensive. According to a state-by-state analysis, smoking cigarettes costs the average smoker at least $1.1 million over a lifetime. If you’re a one-pack-a-day smoker that’s over $15,000 a year! Imagine what you could do with all that money. By quitting smoking you’ll also save on your health and life insurance premiums and reduce the number of medical visits and bills you’ll have if you continue to smoke. Now you can afford that dream vacation! Your Family Will Be Healthier Smoking has a major impact on your family too. Every year an estimated 88 million nonsmoking Americans, mostly young children, are exposed to secondhand smoke. Nonsmokers who are exposed to secondhand smoke in their daily lives increase their lung cancer risk by 20-30%. Secondhand smoke exposure in children can cause ear infections, asthma, and other serious respiratory illnesses. Quit for your family. Smoking is a bad habit that can be broken. It might not be easy, but thankfully there are many support programs that can help you quit and live a healthier life for both you and your loved ones who count on you. Check out the American Lung Association to find resources and support groups to help you quit smoking once and for all in the New Year. So, what are you waiting for? Sources: http://www.truckinginfo.com/news/story/2010/11/dots-truck-driver-life-expectancy-statistic-is-in-question.aspx https://www.nhlbi.nih.gov/health/health-topics/topics/smo https://www.cdc.gov/tobacco/basic_information/health_effects/respiratory/ http://www.cancer.org/cancer/cancercauses/tobaccocancer/index https://www.cdc.gov/tobacco/basic_information/health_effects/cancer/index.htm http://time.com/money/3676521/smoking-costs-lifetime/ http://www.lung.org/support-and-community/

We’re just about ready to open the door to 2017, so you might be thinking about some New Year’s resolutions. What’s on your list this year? More visits to the gym? Learning a new language? Mastering the perfect beef bourguignon? All worthy ambitions, of course, but why not also include some financial resolutions? By reviewing your needs and goals, you can identify some resolutions that are particularly relevant to your own situation. But here are a few suggestions: Build an emergency fund. If you needed a major car repair or a new furnace or faced some other large, unanticipated expense, could you cope with it? If you didn’t have the money readily available, you might have to dip into those investments intended for long-term goals, such as retirement. Instead, build an emergency fund containing three to six months’ worth of living expenses, kept in a liquid, low-risk account. Cut down on debts. It’s not easy to cut down on one’s debt load. But if you can find ways to reduce your debts, you’ll help improve your overall financial picture. Many debts are not “useful” – that is, they don’t carry any tax advantages – so every dollar you spend to pay down those debts is a dollar you could use to invest for your future. Boost contributions to your retirement plan. If your employer offers a 401(k) or similar retirement plan, take full advantage of it. Your earnings have the potential to grow tax deferred and your contributions may lower your taxable income. Plus, most plans offer a selection of investment options, so you can choose the investment mix that fits your objectives and risk tolerance. Therefore, if your salary goes up this year, or if you think you can find other ways to free up some money, increase your contributions to your retirement plan. Review your portfolio. Is your investment portfolio still on track toward helping you meet your long-term goals? If not, you may need to make some changes. You’ll also want to study your investment mix to make sure it still accurately reflects your risk tolerance. Over time, and often without your taking any significant actions, your portfolio can “drift” to a place where you are taking on too much risk – or even too little risk – for your needs and long-term objectives. If this happens, you may need to “rebalance” your holdings. Avoid mistakes. None of us can avoid all mistakes, in life and in our investment activities. But as an investor, you’ll clearly benefit from minimizing your errors. For example, it’s generally a mistake to jump out of the market in response to a period of volatility. If you wait for things to “calm down” before investing again, you might miss out on the opportunity to participate in the next market rally. Think long term. Keep this in mind: You’re not investing for today or tomorrow, but for many years from now. Try to keep a long-term focus when making all your key investment decisions. By doing so, you can avoid overreacting to short-term developments, such as a sudden drop in the market or a “momentous” political event that actually decreases in importance as time goes by. Try to follow these financial resolutions as best as you can. You could make 2017 a year to remember. This article was written by Edward Jones for use by Greg Hall, Financial Advisor with Edward Jones. He can be contacted via email at greg.hall@edwardjones.com or via phone at 303-985-0045.​ Image Credit - https://www.flickr.com/photos/andreas_poike/

Tax Freedom Day generally falls around this time each year. This is the day when the nation as a whole has earned enough money to pay off its total tax bill for the year, according to the calculations made by the Tax Foundation. So you may want to use Tax Freedom Day to think about ways you can liberate yourself from some of the investment-related taxes you may incur. Of course, Tax Freedom Day is something of a fiction, in practical terms, because most people pay their taxes throughout the year via payroll deductions. Also, you may not mind paying your share of taxes, because your tax dollars are used in many ways – law enforcement, food safety, road maintenance, public education, and so on – that benefit society. Still, you may be able to reduce those taxes associated with your investments, leaving you more money available to help you work toward your important goals, such as a comfortable retirement. Here are some suggestions for making investing less “taxing”: Contribute regularly to tax-advantaged retirement plans. Contribute as much as you can afford to your IRA and your 401(k) or other employer-sponsored retirement plan. Traditional IRA earnings grow tax deferred, and your contributions may be tax-deductible, depending on your income. (Taxes will be due upon withdrawal, however, and withdrawals made before you turn 59½ may be subject to a 10% IRS penalty.) Your 401(k) or similar plan also provides the opportunity for tax-deferred earnings growth. Roth IRA contributions are not deductible, but your earnings are distributed tax-free, provided you don’t take withdrawals until you’re 59½ and you’ve had your account at least five years. Follow a “buy-and-hold” strategy. If you sell investments you’ve owned for less than a year, and their value has increased, you will have to pay capital gains taxes at your personal income tax rate, which, in early 2017, could be as high as 39.6%. But if you hold investments for at least a year before selling them, you’d be assessed the long-term capital gains rate, which tops out at 20%. Be aware, though, that the Trump administration and Congress seem likely to change the tax rates. Early plans call for a maximum personal income tax rate of 33%, with the top rate for capital gains and dividends either staying at 20%, or possibly being reduced to 16.5%. In any case, you’ll still come out ahead, tax-wise, by holding your investments long enough to receive the long-term capital gains rate. Consider municipal bonds – If you are in one of the higher income brackets, you might benefit from investing in municipal bonds, which are typically used to finance public projects, such as roads, schools, airports and infrastructure-related repairs. Interest payments from “munis” are typically exempt from federal income taxes and may also be exempt from state and local taxes, depending on the state in which the bond issuer is located. Interest payments from some types of municipal bonds may be subject to the alternative minimum tax (AMT). Again, though, watch for developments from Washington, as both the Trump administration and some congressional leaders favor eliminating the AMT. When charting your investment strategy, consider your risk tolerance, time horizon, family situation and estate plans. But investment-related taxes should also be in your strategic mix – so look for opportunities to keep these taxes under control. This article was written by Edward Jones for use by Greg Hall, Financial Advisor with Edward Jones. He can be contacted via email at greg.hall@edwardjones.com or via phone at 303-985-0045.​

As an independent contractor you are not only the CEO of your company, but the face of your business. How you come across to the people you meet on a daily basis is critical to your success. You are constantly meeting new people, making first impressions, and creating a level of trust with your clients. Whether you’re brushing up for a new business endeavor, or you’re new to the game – these tips will help you put your best foot forward! Focus on your stance. Standing tall with your shoulders pulled back will actually raise your levels of testosterone (increasing confidence), and lower your levels of cortisol (the stress hormone). Standing with your arms folded can signal that you are closed off and disinterested. Slouching or hunching your shoulders make you look defensive and lacking in confidence, so remember to stand tall! Don’t fidget. Fidgeting, from playing with your hair or bouncing your knee, can come off as though you have low confidence. I tend to pick at my fingernails or bite them when I get nervous. I now get into the habit of consciously folding my hands in my lap to still them, so that I’m not tempted to fidget. Be honest – with your words and behavior. Tell-tale body language signs of someone who is lying: hand touching, face touching, crossed arms, and leaning away. These behaviors do not instill trust, and should be avoided when meeting with a potential business partner or client. Bring it down a notch. If you tend to be enthusiastic or excite easily, you probably already make a good first impression. However, your excitement could overwhelm a client. Instead, take a deep breath and focus on bringing your gestures and excitement down a notch. Keep the enthusiasm in your voice, but stay calm and contained. This will make you look more powerful and in control. Make eye contact. Feeling overwhelmed can cause you to drop your eyes to the ground. This can convey signs of weakness and lack of respect – two things you certainly do not want to emanate when you’re speaking with a client. If you’re unsure of something and need to buy some time, smile, nod, and take a breath while you think about it. Even if you shift your glance away for a moment, just remember to shift it back before you start speaking again. This will show thoughtfulness and insight, rather than nervousness. Give a good handshake. A good handshake can leave a lasting impression on your client, just as a bad one can. It’s a great thing to start off strong with! You don’t want to give someone a limp hand (sign of weakness), or squeeze so hard you crush them (sign of over-compensation for insecurities). Smile! A smile is not only seen, but also heard. When you talk to someone on the phone be sure to smile! The person on the other end of the line will hear it in your voice. Even if you aren’t feeling terribly peppy that day, a forced smile will still sound as though you’re excited to hear from that person. They will reflect your happy outlook. Be a mirror. Studies have shown that mirroring someone’s stance or sitting position can help to establish trust. It can also create a feeling of comfort and stability. Do the lean. If you’re listening to a client when they are speaking, lean slightly forward. In contrast, if you are talking to your team and you want them to participate in the conversation, lean backwards. Your physical direction can convey either intense or open listening. Take your time. Instead of stumbling over your words or filling sentences with “um” and “uh”, pause and take a moment to decide what you’re trying to say. Take a deep breath, then speak slowly and clearly. This will sound more confident than backtracking over something you said quickly without thinking ahead. Most importantly, don’t stress yourself out by trying to remember all of these steps in the moment! Practice makes perfect, so try out each tactic during a casual social situation and see how they work. After a little while, they’ll become second nature. Sources: http://www.lifehack.org/articles/work/here-are-shocking-facts-why-your-body-language-isnt-helping-you-get-ahead-your-career.html http://www.forbes.com/sites/carolkinseygoman/2013/01/07/10-simple-and-powerful-body-language-tips-for-2013/ http://www.etiquetteinternational.com/Tips/handshake.aspx

If you operate a fleet of trucks perhaps you’re aware of the small business health care tax credit that might be available to you. To be eligible for this credit you must: Have purchased coverage through the Small Business Health Options Program - also known as the SHOP Marketplace Have fewer than 25 full-time equivalent employees Pay an average wage of less than $50,000 a year Pay at least half of employee health insurance premiums For tax years beginning in 2014: The maximum credit increases to 50 percent of premiums paid for small business employers and 35 percent of premiums paid for small tax-exempt employers. To be eligible for the credit, you must pay premiums on behalf of employees enrolled in a qualified health plan offered through a Small Business Health Options Program Marketplace or qualify for an exception to this requirement. The credit is available to eligible employers for two consecutive taxable years. Even if you are a small business employer who did not owe taxes during the year, you can carry the credit back or forward to other tax years. Also, since the amount of the health insurance premium payments is more than the total credit, eligible small businesses can still claim a business expense deduction for the premiums in excess of the credit. That’s both a credit and a deduction for employee premium payments. There is good news for small tax-exempt employers, too. The credit is refundable, so even if you have no taxable income, you may be eligible to receive the credit as a refund so long as it does not exceed your income tax withholding and Medicare tax liability. Refund payments issued to small tax-exempt employers claiming the refundable portion of credit are subject to sequestration. Finally, you can benefit from the credit even if you forgot to claim it on your 2014 tax return; there’s still time to file an amended return. Generally, a claim for refund must be filed within three years from the time the return was filed or two years from the time the tax was paid, whichever of such periods expires later. For tax years 2010 through 2013, the maximum credit is 35 percent of premiums paid for small business employers and 25 percent of premiums paid for small tax-exempt employers such as charities. You must use Form 8941, Credit for Small Employer Health Insurance Premiums, to calculate the credit. For detailed information on filling out this form, see the Instructions for Form 8941. If you are a small business, include the amount as part of the general business credit on your income tax return. If you are a tax-exempt organization, include the amount on line 44f of the Form 990-T, Exempt Organization Business Income Tax Return. You must file the Form 990-T in order to claim the credit, even if you don't ordinarily do so. This article originally featured on TeamRunSmart.com

Helping others who are less fortunate than yourself is always a great investment. Donating to qualified organizations will not only benefit people in need but may also help lower your tax bill. Here is some helpful information to ensure you receive proper charitable deductions on your tax return. All deductions must be filed on Form 1040 and each one itemized on Schedule A. Make sure whomever you donate to is a qualified organization to ensure the tax deduction is legitimate. Be sure to have proper proof of all your donations regardless of price. For all cash contributions, you will need either records of payroll deductions, bank verification, phone bill records (for text message donations), or documentation from the organization providing date of contribution, and the amount provided. If you receive some kind of exchange for merchandise, tickets to an event or other goods or services, you cannot exceed the Fair-Market-Value (FMV) price. Non-cash items such as food, clothing, and other household items are worth FMV as well. Household items must be new or in good condition if used. The value of vehicle donations is determined by the organization receiving the vehicle. A single donation of cash or property valued at $250 or more requires written acknowledgment by the organization with the amount of cash or exchange, date, description of the item, and the name of the organization. When your total donations for the year are valued over $500, it would require an IRS Form 8283 with your return. Transportation expenses can be deducted if you use your vehicle for medical, business, or charitable purposes. Taxes may be confusing and frustrating because of all of the specific rules and regulations to abide by but do your research to ensure you receive all of the proper deductions you deserve. Click here for more detailed information regarding taxes and charitable contributions. You can also speak with an ATBS tax professional for more information. Sources: http://www.efile.com/tax-deduction/income-deduction/charitable-contributions/ http://www.irs.gov/Charities-&-Non-Profits/Charitable-Organizations/Charitable-Contribution-Deductions http://www.irs.gov/uac/Eight-Tips-for-Deducting-Charitable-Contributions Image source: https://www.flickr.com/photos/jschueller2/

By Ellen Voie, President & CEO of Women In Trucking The email started innocent enough. The question from the CEO asked if the employee had a moment to “get a task done.” The sender asked the reader to purchase eight eBay gift cards valued at $200 each for a total of $1,600. The employee was then asked to scratch off the silver lining and send a photo of the codes immediately. The employee was new at the company and complied with the request, which, unfortunately, was from a scammer. The cards were purchased before the employee realized it was a scam; fortunately, the codes were never sent to the spammer. This ruse is repeated over and over daily. The Federal Trade Commission claims there has been a 270 percent increase in scammers asking for gift cards since 2015. Gift cards are hard to trace, and once the code on the back is revealed, the money is gone and impossible to trace. We’ve all probably experienced imposter scams, which is the number one fraud reported last year. More than $667 million was handed over to imposters posing as government officials, family members, businesses, or romantic interests. The top form of payment was gift cards. The caller on the other end of the phone is lying to you to extract money. Many of the scammers prey on senior citizens who might be more vulnerable in believing the caller. A common ruse is to pretend to be a grandchild needing money. The scammer finds the information on social media and can provide accurate descriptions that support the scammer’s hoax. One of my friends received such a call from her “grandson.” Unbeknownst to the caller, the grandmother detected discrepancies in the story. She told the caller impersonating her grandson she couldn’t help him, “I never loved you anyway.” Today, our information is so vulnerable to hackers, scammers, imposters, and anyone looking to steal your money. As a frequent traveler, my credit card number has boon compromised numerous times. Now, I get a text as the card is being charged. For me, the thefts have occurred only when the card is out of my sight, such as paying for a meal in a restaurant. You can’t stop scammers from trying to cheat you, but you can reduce your chances of being a victim. If you receive an email from someone you don’t know, delete it. Be wary of emails from financial institutions. Don’t click on the link in the email, use the bank’s secure website and forward phishing emails without opening them. Sometimes the email, such as in the opening of this article, seems to be from someone you know. Be wary. Hold your mouse (or click) over the sender’s email address, and the real address will appear. It’s simple for a scammer to show a fake email address. It’s called spoofing, and a quick Google search will show you how it’s done. Fortunately, a spoofed email doesn’t mean the scammer hacked your account. He or she just faked in instead. Phone scammers are a real nuisance. Today’s smartphones allow you to send all calls to voice mail unless the caller is in your contact list. You can also purchase phone blocking apps to identify some scammers, but they change numbers so often it’s hard to stay on top of these calls. The simple method is NOT to answer a call if you don’t recognize the number. If it’s important, they’ll call you back or leave a message. You can block many robocalls by registering with the “National Do Not Call Registry (donotcall.gov) or 888-382-1222. Once you are registered, no company is allowed to call you unless you’re doing business with them. Many of us have received scam calls from someone claiming to be with the social security administration, stating we are being investigated for fraud. The government won’t call you; they’ll send you a letter on official letterhead. Hang up. It’s a scammer trying to scare you into making a payment (to them). Set your privacy settings on your social media sites and don’t share information that could be used by someone either trying to impersonate you or someone who may watch for your absence from your home so they can rob you. One other safety precaution I learned about car thieves. Don’t set your GPS to “home” in your favorites. Instead, use a name for your home address. A thief who breaks into your vehicle will not only know where you live but will probably use your garage door opener to get entry into your home. They will be able to rob you while you’re away, especially if they’ve stolen your vehicle from an airport parking lot! It’s so frustrating to be the victim of a scammer, spammer, or spoofer. Reduce your chances and keep your money safe.

We’ve reached the end of another year – which means it’s time to think about your New Year’s resolutions. Would you like to eat healthier, spend more time with family, visit the gym more often? All these are worthy goals, of course, but why not also add some financial resolutions? Here are some ideas to think about: Try to “max out” on your IRA Even if you have a 401(k) or similar plan, you can probably still invest in an IRA. For 2020, you can contribute up to $6,000 to a traditional or Roth IRA, or $7,000 if you’re 50 or older. (Income restrictions apply to Roth IRAs.) Contributions to a traditional IRA may be tax-deductible, depending on your income, and your earnings can grow tax-deferred. Roth IRA contributions are not deductible, but earnings can grow tax-free, provided you don’t start taking withdrawals until you are 59-1/2 and you’ve have had your account at least five years. You can put virtually any investment in an IRA, so it can expand your options beyond those offered in your 401(k) or similar plan. Build an Emergency Fund Try to build an emergency fund containing three to six months’ worth of living expenses, with the money held in a low-risk, liquid account. This fund can help you avoid dipping into your long-term investments to pay for unexpected costs, such as a new furnace or a major car repair. Control Your Debts It’s never easy, but do what you can to keep your debts under control. The less you have to spend on debt payments, the more you can invest for your future. Don’t Overreact to Changes in the Financial Markets We’ve had a long run of rising stock prices – but it won’t last forever. If we experience a sharp market downturn in 2020, don’t overreact by taking a “time out” from investing. Market drops are a normal feature of the investment landscape, and you may ultimately gain an advantage by buying new shares when their prices are down. Review Your Goals and Risk Tolerance At least once in 2020, take some time to review your short- and long-term financial goals and try to determine, possibly with the help of a financial professional, if your investment portfolio is still appropriate for these goals. At the same time, you’ll want to re-evaluate your risk tolerance to ensure you’re not taking too much risk – or possibly too little risk – with your investments. Do your best to stick with these resolutions throughout the coming year. At a minimum, they can help you improve your investment habits – and they may improve your financial picture far beyond 2020. This article was written by Edward Jones for use by Greg Hall, Financial Advisor with Edward Jones. He can be contacted via email at greg.hall@edwardjones.com or via phone at 303-985-0045.​

This article was originally featured on TeamRunSmart.com. Winter is right around the corner which means it’s time to refresh yourself on how to drive in the changing weather. There are many things you can do while driving and things you can do to your truck that will make driving in the winter as safe and stress-free as possible. Our friends at Team Run Smart have come up with a variety of things that they do on the road during the winter that they have learned throughout their many years of driving. In this article, we are going to pass these winter driving tips for truck drivers off to you! Driving The first thing to remember when driving in the winter is that it doesn’t matter how fast you are going but how fast you can stop. The road conditions in the winter are going to increase the amount of time and distance you will need for your brakes. This is important to think about because the chances of needing to stop or maneuver out of the way goes up when the road conditions are poor. There are many things you can do in the winter while driving to make sure you have enough time and distance to stop and stay safe on the road. If you’re driving below the speed limit and people are passing you, don’t feel pressured to go faster just because others are. If you are getting pressure on the CB radio to go faster, turn down the CB and focus on what you are doing. If you continue to drive and still feel uncomfortable, pull off in a safe place until you feel conditions are good enough to drive. Your safety, and the safety of others around you, is the most important thing in the winter. Another thing you can do if you are uncomfortable and feel yourself sliding around is drive more and more gradually on the shoulder of the road. This tip works because there is usually more gravel on the shoulder of the road which allows your tires to grip better. You should only do this if you are having a hard time slowing down and are able to see the gravel on the shoulder. There are also things around you that you should pay attention to that will help you understand how the conditions are on the road. If you see a car coming at you that is flashing their headlights at you, be prepared for something coming up ahead. People can be flashing their lights at you for a variety of reasons so make sure you’re ready for anything that could be coming up. You should also pay attention to the number of cars driving on the other side of the road. If the number of vehicles coming towards you becomes fewer and fewer for no expected reason, it could mean that something might be wrong up ahead. Another thing to be prepared for in the winter is traffic being stopped on the other side of a hill that you are going over. Because you can’t see the other side of the hill, don’t assume that it is going to be clear. Be ready to brake, as you know you are going to need even more time to come to a stop going down a hill if traffic is backed up. The last thing you can pay attention to is the spray from other vehicles that are passing you. If you see water spraying off the tires you know the roads likely aren’t frozen, but if you see that the spraying has stopped it may mean it’s time to be extra cautious and slow down. Even if you are paying attention to all of these things on the road, there is still a chance that you will start sliding on the ice. If you begin sliding, you want to make sure all of your tires are rolling as freely as possible. In order to do this, hit the clutch or put your gear in neutral. As you are sliding and your tires are rolling freely, find an object straight down the road, like a road sign, and steer towards that object. That is an effective way to get out of the slide and avoid jackknifing. Your Truck There are many things you can do to your truck and things that you can notice on your truck that can help you drive in the winter weather. If you are having trouble with your windshield while driving in the cold and the snow, there are a couple of things you can do. If a thin layer of ice forms when your wipers run across the windshield, then cool things off and try freezing your windshield. Park in a safe spot and turn your defrost to the coldest temperature setting. Once the windshield is frozen, scrape off the ice and continue driving with the defrosters on. The cold glass will will keep the snow and ice from sticking to the windshield while driving down the road. Continue to keep the windshield as cold as needed to keep ice from forming. If you’re driving in a wet heavy snow and snow is building up on the edges of the windshield causing the wipers to lose contact with the glass, then try putting your defrost on as hot as possible and lower the sun visors to hold the heat in at the top of the windshield. This will melt the wet snow that sticks to the top of the windshield and will allow for better visibility. There is a fine line between when to use these two tricks but with experience you will learn when to use either one. When it comes to your fuel, there are a few things you can do to make sure it doesn’t gel. The most common thing to do is use a diesel fuel additive. If you are going to do this, be sure to add it before you fuel up so that it doesn’t sit on top of the fuel without mixing in. Another thing to pay attention to is where you are fueling up. If you are going from a place that is south of I40 to a place that is north, fill up just enough south of I40 to get you to the place you know is going to be cold. The fuel in warmer climates is not going to be blended for cold weather like the fuel in cold climates. If you fill up just enough to get you north of I40, you won’t have to use fuel that is untreated and will be able to fill up right away with fuel that is treated. Lastly, if you have a bunk heater, make sure you run it while the truck’s warm when you first put the winterized fuel in. This is because if it’s old fuel that is not treated for the cold, it may not start. You should also turn on your bunk heater every month, even in the summer months, to make sure it’s ready for when you need it in the winter. Don’t let it sit for a long time with old fuel. There are a few things you can do to help your tires and brakes from being affected by the weather as well. The first and most obvious thing to do is use tire chains when necessary. Learn about the chain laws in the places that you normally run in this article here. Secondly, make sure your brakes are dried out after you are done for the day so that they don’t freeze. You can do this by gently applying the brake pedal and dragging your brakes through the lot where you are going to park. This will warm the brake pads and vaporize any moisture on the brakes and drums. After you have done this and parked, don’t set the trailer brakes. You also need to be careful to avoid getting your tires stuck in snowy and icy conditions. If you are parking on ice, stop for a little while to let your tires cool, then roll forward or back a short distance. This way your tires will cool off so the snow and ice don’t melt around the tires which could get you stuck. You can also idle around the lot to let the snow cool the tires before parking. The last little thing to pay attention to on your truck that will help you get a better understanding of the weather is your antenna. If you see ice building up on your antenna, it means the road you are on might also be frozen and icy. Quick Tips Here are a few more quick tips that can help you during the winter: If you can’t walk on it, you probably shouldn’t drive on it. If you can, every once in a while just get out and put your foot on the ground to see if it’s slick. Get grippies or chains for your shoes that make it easier for you to walk outside of the truck. This is especially true at truck stops or docks that don’t clear off their pavement. When you are driving, keep your coat on or near by just in case there is an emergency. You never know if something is going to happen that will force you to get out of your truck quickly. Keep a candle in your truck with a metal coffee cup as a worst-case scenario for providing heat in your truck. This won’t keep your whole body warm but should be enough to keep your hands from getting frostbite if you have no other heat options. What Winter Driving Tips for Truck Drivers Do You Have? These are just a few of the things you can do as a truck driver to keep you safe on the road in the winter. There are likely a lot of tips that we missed, so feel free to pass them along to us. Our goal is to make sure that you, and all of the people around you, are as safe as possible during the cold months. So please keep these tips in mind and have a great winter out there on the road.

To help achieve your long-term goals, such as a comfortable retirement, you should save and invest regularly. But that’s only part of the picture. You also need to protect your financial assets in various ways. One such method is guarding your personal information – especially any information that could be linked to your financial accounts. It’s obviously important to be vigilant at any time, but you need to be even more on your toes during the holiday season when fraudsters are particularly active. So, to help keep your important data under wraps during the holidays, consider these suggestions: Extend your protection to all mobile devices Identity thieves can now compromise your mobile devices by installing spyware that steals usernames, passwords and credit card information. Fortunately, you can fight back. By doing a little research online, you can find the best mobile security software for your needs. Use multiple passwords Online security specialists recommend that you use different passwords for each new online shopping site you visit during the holiday season. Although this might seem like a hassle, it can be helpful, because even if identity thieves were to grab one of your new passwords, they still couldn’t use it for other sites you may visit. And you can even find a free online program that can help you keep track of all your passwords. Be suspicious of “huge savings” It happens every holiday season – identity thieves develop fake sites with attractive graphics and stunningly low prices on a variety of items, especially digital devices. If you fall for these pitches, you won’t get any merchandise, but you might get a handful of headaches once the bad guys have your credit card number and other personal information. To prevent this, be wary of any deal that sounds too good to be true, and do some digging on the websites that offer these mega-savings. Watch for fake shipping notices During the holidays, when you may do a lot of online shopping, you will probably receive some legitimate shipping notices. But the bad guys have gotten pretty good at generating fake notices designed to resemble those from UPS, FedEx and even the U.S. Postal Service. If you were to click on the link provided by one of these bogus notices, you could either take on some malware or get taken to a “phishing” website created by the shipping notice forgers. Your best defense: Only shop with legitimate merchants and only use the tracking numbers given to you in the email you received immediately after making your purchases. Keep your Social Security number to yourself As a general rule, don’t give out your Social Security number online — to anyone. No legitimate retailer needs this number. Finally, be aware that not all attempts at stealing your personal information will come online. When you’re out shopping at old-fashioned, brick-and-mortar stores, consider bringing just one credit card with you — and protect that card from prying eyes. By following these precautions, you should be able to greatly reduce the risk of being victimized by identity thieves and other miscreants. And the more comfortable you are in doing your holiday shopping, the more you can enjoy the season. This article was written by Edward Jones for use by Greg Hall, Financial Advisor with Edward Jones. He can be contacted via email at greg.hall@edwardjones.com or via phone at 303-985-0045.​