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John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

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Homemakers Can Save for Retirement, Too

September 10, 2015 2:51 am

A recent report by the Transamerica Center for Retirement Studies® (TCRS) and the Aegon Center for Longevity and Retirement (ACLR) explored the unique circumstances surrounding homemakers’ retirement, offering proactive steps to improve overall outlook.

“Homemakers contribute greatly to their families and society, as parents, caregivers and role models to their children,” says Catherine Collinson, president of the TCRS and executive director of the ACLR. “Because their work is unpaid and comes without employer or retirement benefits, homemakers face even greater retirement risks than workers due to their reliance on others for income.”

According to the report, most homemakers in the U.S. are women (81 percent), married, cohabitating or in a civil partnership (90 percent), aged 18 to 44 (56 percent), and are a parent of one or more financially dependent children (55 percent).
When presented with a series of word associations about retirement, workers and retirees were more likely than homemakers to cite positive words such as “leisure,” “freedom” and “enjoyment.”

The report highlights the following key recommendations for homemakers.

• Become personally involved in your family finances, from daily budgeting to long-term planning. Working with your spouse or partner, calculate retirement savings needs and develop a financial plan for achieving those needs. As part of that plan, be sure to have a backup plan for unforeseen circumstances such as separation, divorce, or loss of a partner. Consider seeking the expertise of a professional financial advisor.

“It is a myth that only workers retire,” says Collinson. “Homemakers also need to plan and prepare for financial security in old age. For everyone, and especially homemakers, a separation, divorce or loss of a spouse or partner can be devastating both emotionally and financially.”

• Consider working on a part-time basis to reduce future retirement risks. Part-time work brings income and greater access to government and employer retirement benefits. Staying in the workforce can also help keep job skills current and make it easier to find higher paying and/or full-time work, if needed.

“Clearly, it is difficult for homemakers to save, given the unpaid nature of their work. However, homemakers are not off the hook for their future retirement. Getting into the habit of saving, even if it’s just a little bit, along with careful planning, may help homemakers improve their long-term prospects,” says Collinson.

Source: TCRS

Published with permission from RISMedia.


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5 Tips to Pick the Perfect Paint

September 10, 2015 2:51 am

A number of factors play a role in how color is perceived in a home. While choosing a room color is a deeply personal choice, it's helpful to understand how certain influences can help guide paint color choice, says Noelle Parks, an interior design professional with Dunn-Edwards Paints®.

Parks recommends homeowners follow these guidelines when selecting paint colors.

1. Choose color based on desired mood.

From high-energy red to mellow blue, psychological responses to color inform effective and stimulating home design. Consider the ambience of the room before choosing a color. Will it be a lively dining room? A peaceful study? A luxurious bedroom?

Warm tones like red, orange and yellow evoke energy, playfulness and action – great for spaces for interaction like dining rooms or kitchens. Cool tones including green, blue, indigo and violet shades create tranquil and soothing environments. Try cool tones for places of relaxation and meditation, like the bedroom.

2. Use neutral colors as a base.
Neutral colors pair well with many shades. White, the most neutral of colors, coordinates with almost every other shade. Crisp and elegant, white opens up spaces and provides a clean, well-designed look.

Brown keeps color schemes grounded with its earthy tones and works best with an accent color. Black adds drama and is often used as an accent to embolden other tones.

3. Consider lighting.
Color looks different on a swatch in a store, and on the wall at home at different times of day with different amounts of light. It's imperative to test colors under the lighting conditions at home to see how the paint will truly appear. If there’s a lot of natural sunlight, consider a deeper, richer color.

4. Pay attention to details.
Permanent features like the flooring, architectural trim, moldings and columns will affect how color appears and blends with the rest of the room. Dark flooring, for example, will go well with lighter wall colors as opposition creates interest and visual excitement. Or, the design on a large piece of furniture may inform the color choice of the overall room.

5. Take climate and windows into account.
Typically, warmer colors are more acceptable in cold climates and cooler colors in warmer regions. A south-facing window orientation suggests a cool to neutral color preference, while a north-facing window suggests the use of a warmer color.

Source: Dunn-Edwards Paints®

Published with permission from RISMedia.


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