10 retirement savings tips for 20-somethings

first_imgby. Emily BrandonStart saving early.Beginning to save for retirement in your 20s is one of the best financial decisions you can make. You can benefit from decades of compounded growth, capture valuable employer contributions and save money on your tax bill all at the same time.Get a 401(k) match.Getting an employer contribution is one of the fastest ways to grow your nest egg. The most common 401(k) match is 50 cents for each dollar saved up to 6 percent of pay. For someone earning $40,000 per year, this 401(k) match could be worth as much as $1,200.Set up automatic withholding.A major perk of 401(k) accounts is that the money is withheld from your paycheck, and you never get a chance to spend it. If you don’t have access to a 401(k) at work, consider setting up a direct deposit to an individual retirement account or taxable account to make saving for retirement effortless. continue reading » 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Read More

ITC and CDB announce scaled-up partnership

first_img Oct 12, 2020 Aug 25, 2020 30 July, 2018, Bridgetown/Geneva (Caribbean Development Bank Press Release)  – The International Trade Centre (ITC) and the Caribbean Development Bank (CDB) have announced that they are scaling up their partnership to strengthen support for businesses across the Caribbean region. The announcement was made by CDB President, Dr.  and ITC Executive Director, Arancha González during a meeting at CDB’s headquarters in Bridgetown, Barbados on July 27. During the meeting, Smith and González signed a partnership agreement, which confirms ITC as one of CDB’s key partners for the implementation of trade-led development projects in the Caribbean Region. While having collaborated on a number of projects for several years, it is the first time that the two organisations have formalised a partnership agreement. “This agreement represents the ITC and CDB’s shared vision for sustainable economic development in the Bank’s Borrowing Member Countries. Through this framework, we look forward to working collaboratively with ITC to implement innovative projects that will boost competitiveness and productivity, especially for micro, small and medium-sized enterprises,” said Dr. Smith. Aug 31, 2020 Belize economy contracts by 23.3% – CARICOM Business… LIAT to Resume Operations in November? – CARICOM… You may be interested in…center_img Chairman of CDB’s Board of Governors, PM Keith Mitchell, pays official visit to Bank’s HeadquartersJune 23, 2017, BRIDGETOWN, Barbados – Dr. The Right Honourable Keith Mitchell, Prime Minister of Grenada and Chairman of the Board of Governors of the Caribbean Development Bank (CDB), on Friday urged the institution to continue playing a role in accelerating the implementation of the development agenda for the Caribbean.  “Together,…June 25, 2017In “Barbados”CDB President announces up to US$800M for disaster recovery, amid strong Bank performance in 2017February 7, 2018, BRIDGETOWN, Barbados – President of the Caribbean Development Bank (CDB), Dr. Wm. Warren Smith, today announced that the institution is making USD700 to 800 million (mn) available to help Borrowing Member Countries (BMCs) recover from the impact of the 2017 Atlantic Hurricane Season. The funding, which the Bank is…February 7, 2018In “CARICOM”International Trade Centre: A Remarkable Jamaican AchievementJamaican nationals have recorded a remarkable achievement at the International Trade Centre (ITC) located in Geneva, Switzerland.  The United Nations (UN) Secretary General, António Guterres, last week announced that he had appointed Jamaican national, Mrs. Pamela Coke Hamilton, ITC Executive Director. Her appointment will be initially for 3 years. What…July 29, 2020In “Indepth”Share this on WhatsApp Cruise Ships Banned Until 2021- CARICOM Business News Aug 17, 2020 Guyana Waives Banking Fees for Rest of 2020 – CARICOM… ITC Executive Director, Arancha González said: “CDB has a track record of investing in projects that have an impact on people and businesses across the Caribbean. With this agreement ITC and CDB will be able to ensure that more micro, small and medium-sized enterprises are empowered to realise their potential and tap into regional and global value chains.” As a first step in the new partnership, the two organisations will explore and identify priority sectors and priority countries for interventions. Previous collaboration between ITC and CDB has resulted in successful projects in several countries and has covered areas including agriculture. One such example is the creation of a Trade Information Portal for The Bahamas, which has enabled exporters to better take advantage of opportunities in foreign markets. Share this:PrintTwitterFacebookLinkedInLike this:Like Loading… last_img read more

Read More

Two Los Alamos Women Among 2020 Women In Business

first_imgEnterprise Market President Liddie MartinezStaff ReportTwo Los Alamos women are named in the Albuquerque Journal “2020 Women in Business” published Tuesday in the Journal.Enterprise Bank & Trust Regional President Liddie Martinez is honored in the Businesswoman in Finance & Banking category and Los Alamos Daily Post Publisher Carol A. Clark in the Businesswoman in Media category.This annual event celebrates the accomplishments of New Mexico’s women business leaders.Los Alamos Daily Post Publisher Carol A. ClarkThe list of this year’s honorees include representatives from industries as wide-ranging as law, medicine, banking and media.Los Alamos Historian Nancy Bartlit nominated both Martinez and Clark for consideration in the “2020 Women in Business”.“This impressive collection of talented, driven and successful professionals is a tribute to how far women have come in the workplace in recent years and decades.”The roles of the women listed here have perhaps never been more important than today, as New Mexico’s economy is taking a battering from the ongoing pandemic. In each of their industries and in each of their roles, this year’s New Mexico Women in Business are part of the way forward – and we’ll need every ounce of drive, ingenuity and passion they have to move past this difficult chapter. –Albuquerque JournalTo view all of the women named in the Albuquerque Journal “2020 Women in Business” click here.last_img read more

Read More

1980s legacy sold for £18.5m

first_imgWould you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.last_img

Read More

Fujitec International concludes Inotera Memories contract

first_imgSubscribe Get instant access to must-read content today!To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.Don’t just stay connected, stay at the forefront – join gasworld and become a subscriber to access all of our must-read content online from just $270.last_img

Read More

Stretching a point

first_imgSubscribe now for unlimited access Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to building.co.ukBreaking industry news as it happensBreaking, daily and weekly e-newsletters Subscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our community Get your free guest access  SIGN UP TODAY To continue enjoying Building.co.uk, sign up for free guest accessExisting subscriber? LOGINlast_img read more

Read More

Mergers cannot just be finance driven

first_img Jeanette Lucy is the director for compliance, quality and learning with law firm network LawNet The publication of The Law Consultancy Network’s research (July 2012) shows that the appetite for mergers continues unabated, with 80% of the firms surveyed having considered the possibility within the last six months. And for firms heading down the merger path, the spotlight tends to be on matters financial. But although finance may be at the forefront of negotiations, when you’re undertaking due diligence, what about other issues such as compliance culture, risk management and quality regimes? It is vital to talk to insurers at the earliest stages to make sure that claims histories are fully reviewed and premiums can be calculated. Too often, failure to do this leads to the merger falling apart at the final stages, because the indemnity premium becomes the deal-breaker. And if your firm is taking over a smaller practice, then have you explored how to avoid becoming a successor practice? Compliance cultures vary between firms and go from light touch – where fee-earners have autonomy to evaluate their own risks within the firm’s overall risk framework – to regimes where the compliance officers make all the decisions and there is a rigid system with no autonomy. Neither extreme is right or wrong; what matters is robust risk management, but any system must ensure that the risks within the firm are controlled and that the right culture is created within the new firm to ensure buy-in from everyone. Otherwise, if the merging firms have different approaches to compliance and this is not tackled, it can cause serious relationship problems. Tension may be created between individuals and teams, if the approach to risk is seen as preventing fee income generation. So it is important to talk about your attitude and understand how compliance works in each of the merging firms. Analyse the two firms’ systems and make sure that there can be a good fit. Look at the gaps and differences between them. Are there different quality systems? If so, how can these be reconciled? Identify any other differences that need to be reviewed, to ensure a common approach across the new firm. Looking at specific risk areas, it’s very important to look closely at client acceptance procedures. As well as having consistency in the type of client the merged firms will accept, most importantly everyone needs to understand what types of client are considered too high risk. Similarly, file closure procedures should be reviewed to ensure consistency. What happens about file audits? A review of both firms’ procedures needs to take place and a system must be put in place which matches the requirements of the new firm. Training for the merged firm’s partners/managers/directors, fee-earners and staff is vital to ensure everyone is clear about the merged firms risk and compliance policy, its anti-money laundering procedures and who the compliance officers for legal practice and compliance officers for finance and administration are. More than anything, it is crucial that the cultural, compliance and working practices of two merging firms are examined and designed to fit the new firm to ensure the success of any merger adventure.last_img read more

Read More

Norton Rose announces transatlantic merger

first_imgInternational firm Norton Rose has announced a merger deal with a US practice that will cement its place in the top 10 global firms. The firm will combine with Fulbright & Jaworski on 1 June, 2013 to form Norton Rose Fulbright. The new practice will have 3,800 lawyers and be in the top 10 internationally by gross revenues and fee-earners. It will have 55 offices internationally, including 11 in the US, where it will have nearly 800 lawyers. The operation will stretch across much of Europe, East Asia and the Middle East. Peter Martyr (pictured), Norton Rose’s chief executive, said: ‘The US legal market is the largest in the world and our combination will create a truly global practice with significant depth of expertise in the world’s principal business and financial centres. ‘We have been looking at the US market for a number of years, seeking a firm that meets our requirements for excellence in law, good business synergies and a compatible culture. ‘Fulbright & Jaworski meets all our criteria; it is financially strong, with forward-looking management and similar strategic growth aspirations.’ He added that the new firm would expect to extend its global business not only in the US but in the emerging markets of Latin America, Africa and Asia. By industry sector, Norton Rose Fulbright will occupy a market leading position in the areas of energy; pharmaceuticals and life sciences (including healthcare); financial institutions; infrastructure, mining and commodities; technology and transport. Martyr will be global chief executive of Norton Rose Fulbright, with Ken Stewart, chair-elect of Fulbright, serving as managing partner of the US operations. Other Fulbright partners will also sit on the global executive committee. The merger is the latest attempt by a leading firm to bolster its size, following on from Herbert Smith’s merger with Australian firm Freehills in October.last_img read more

Read More

News Focus: Cobbetts

first_imgAs the Gazette went to press, it was unclear whether a drinks party at national firm Cobbetts was going ahead as planned. In the uncertainty following the firm’s acquisition amid financial troubles, the atmosphere at the Birmingham event would hardly have been conducive to ‘a wind-down and a few celebratory beers’ as the invitation promised. A wind-down of a different kind, perhaps.One person probably not in the mood for celebrations was Jayne Firth, whose recruitment from Pinsent Masons as first associate on Cobbetts’ pensions team was announced on 17 January. Firth had said: ‘I look forward to working with the teams at Cobbetts to build on our existing high-quality client base with a view to further extend and modernise the services we provide.’News of Cobbetts’ financial troubles appears to have come as a shock to almost everyone. On the day last week that it announced that ‘the appropriate course at this time is for the firm to obtain the protection of an interim statutory moratorium to enable a sale of the business and assets’, it tweeted: ‘Welcoming one of our new directors… Nadeem from @Cobbetts talks about his appointment to the @JCIManchester team.’Certainly, there was little indication of trouble ahead in the firm’s announcement of half-year results in December, headed ‘a steady ship at Cobbetts’.Managing partner Nick Carr (pictured) announced fee income of more than £20m – consistent with the previous year – although a profit figure was absent. Carr said: ‘Our half-year results ensure we remain on target, and new client wins mean that trading predictions for the next six months are strong. We expect to meet our financial targets by year end.’Within six weeks, the firm had created a debenture securing lender Lloyds TSB against all of its debt and future debt.Just a few days later, the game was up and a fire sale was under way, culminating in the announcement of a pre-pack acquisition by DWF – the very firm that had been the subject of merger talks last year. Cobbetts refused to comment further, amid widespread speculation about the causes of the collapse.However, some facts are already clear. According to the most recent financial report, filed last January for the 2011 calendar year, Cobbetts was battling against falling profits despite seeing turnover increase. Profits fell by £400,000 year on year to £10.6m. During that period, the largest amount drawn by a partner went up from £292,500 in 2010 to £400,000.Long-term loans were reduced from £9m to £6m, but the short-term debt – that which was due to be paid by the end of calendar 2012 – jumped from £591,000 to £2.7m. Whatever the state of its finances more recently, Cobbetts continued to make hay – or so it seemed. Last July the firm promoted 24 members of staff across its four offices, including five to partner. The retention rate for trainees rose to 80% in 2012, up from 73% in 2011.And while the likes of Eversheds, Pinsent Masons and CMS Cameron McKenna made headlines by collectively pruning hundreds of jobs last month, there were no bad news stories at Cobbetts. Cobbetts is a full service law firm with a mixed client base of individuals and businesses. Recent work has included advising Premier Inn on its largest-ever hotel opening, working with supporters trusts to acquire stakes in Rangers and Portsmouth football clubs, and providing legal support to the Manchester International Festival.It appeared to be building on steady growth over the past 11 years, through mergers with Fox Brooks Marshall and Read Hind Stewart. It had offices established in expensive areas of Manchester, Leeds, Birmingham and London. Reportedly, around half of the firm’s 500 staff were fee-earners.There was, however, an element of the ‘squeezed middle’ about Cobbetts. Not wealthy or prestigious enough to cast off the regional tag and enter the higher echelons of the legal profession; nor resilient enough to stave off the threat from other firms snapping at its heels in the crowded Manchester market.A market-moving merger might have been the solution – as it will surely be for many firms of similar size – but this option collapsed, for unspecified reasons, when DWF pulled out of a proposed deal in January last year. Cobbetts will not be the only firm casting nervous glances at its balance sheet. According to a market survey by the Law Society, Ministry of Justice and Legal Services Board, more than one-fifth of firms had experienced problems with financing in the previous 12 months.The Gazette’s Cobbetts archive is filled with new hires and concluded deals. Most intriguing is a story from 2006, where Cobbetts and now-defunct Halliwells signed up to a legal practice course for their future trainees. Now the two firms are linked once again, but for all the wrong reasons.last_img read more

Read More

STEAM rises during Farmington Founders Festival

first_imgMore than a month has passed since the Greater Farmington Founders Festival, and one thing seems certain: People have differing opinions about how it went.Organized by the Greater Farmington Area Chamber, the event brought music, food vendors, activities for kids and teens, and a little controversy to downtown Farmington. Events were also held at Shiawassee Park.Chamber Director Mary Martin, who was hired last November, jumped into the planning process by meeting with committees in December. She said the STEAM (Science Technology Engineering Arts Math) theme reflected what’s happening in the community, such as the opening of the Farmington Public Schools STEAM Academy in the former Dunckel Middle School on 12 Mile Road.The Hackbots drew attention on Farmington Road with their robotics display. New activities included two days of “STEAM Heat” in Shiawassee Park with the Ann Arbor Hands On Museum and a Mad Science show on the State Street stage. Martin said a booth on Farmington Road showcasing the Hackbots, a Farmington Public Schools robotics team, was also a big hit.“The kids were just drawn to that,” she said. “They loved it… Seeing how those were accepted, I was really happy about that.”The popularity of a Friday “Light the Night” display of hot air balloons in Shiawassee Park “caught everybody by surprise,” Martin said. Hundreds of people showed up to watch the balloons, even though they never left the ground.Hot air balloons light up the night and drew hundreds of people to Shiawassee Park. But the event wasn’t without controversy. One business owner was particularly vocal on social media with complaints about the closing of Farmington Road, which restricted access to his business.Martin said the decision was made to carve out a space for kids who were “too old for bounce houses” and activities in Shiawassee Park. The State Street stage hosted shows from morning through late afternoon; some booths, several inflatables, and a climbing wall filled in the area south of State.Activities for older children occupied Farmington Road during Founders Festival.One perpetual complaint in recent years has centered around the “Crafters Marketplace,” formerly located on Farmington Road and moved this year to Riley Park and Market Place, the street on the park’s west side. Crafters and artists displayed their wares but seemed outnumbered by commercial vendors, like home improvement and home-based businesses.Farmington Voice reader Kristen O’Dea pointed out a conflict that may limit the Festival’s ability to draw more creatives.“In my opinion, Farmington won’t be in a position to compete for crafters/artists if (the Festival is) held the same weekend as the Ann Arbor Art Fair,” she said. Also held the third weekend in July, that event draws hundreds of artists from around the country.Lesa Ferencz, also a Voice reader, said the Crafters Marketplace usually brings her family out for the daytime part of the festival. This year, they “browsed very little, bought nothing.”“We don’t give the commercial, informational, and carnival-type booths any of our attention,” she said. “The layout felt very disjointed to me which left the daytime activities feeling empty and frustrating. Our faith in the craft booth part of the festival has been slim to none for a very long time.”“We shopped at Bead Bohemia, Sunflour Bakehaus, and Dagwood’s while we were in town for the festival,” she added.Martin said she has considered adding something like a Maker Faire next year.“If we did that with the STEAM stuff, that would be great branding for us,” she said.Financially, the Festival brought in about 5.5 percent more in revenues over last year. What stood out most in her first year, Martin said, was the community, the volunteers (including many Chamber members), attending a “heart-warming” Miss Farmington pageant, and the success of the first-ever Color Run, which preceded Saturday’s parade.“Those are the kinds of things I can look back on and say, that was so much fun, and the community embraced them,” she said. Reported by admin Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)last_img read more

Read More