Corb7 International December 2, 2020 Newsletter

International Business

Feature

Editor’s Note

Thank You for Your Readership!  

2020 was not the year that any of us had hoped for but at last it is drawing to an end. From our readers, nevertheless, many have taken time away from their personal challenges to offer kind words of support to us which is very much appreciated.  This has fueled our continued quest to produce high quality content directed at international business and lifestyle. We present this in a concise manner –  keeping each article to a minimum – since we realize that your day is filled with many other necessary “must do” items.  To that end, I hope we have offered you unique, entertaining and valuable perspectives that provide you the opportunity for a deeper dive into a specific subject matter should you desire.

It has now been over 10 years since we published our first newsletter in September of 2010.  Wow, as the old cliche goes, time does fly!  In the coming weeks we will be bringing onboard some exciting contributions from experts new to our readership that I am confident you will enjoy.

So, if you have been enjoying our newsletter”Global Common Cents,” please consider sharing it with a friend.   We produce our newsletter for free and rely on word-of-mouth to grow our audience.  Thanks again.

Here is a link if you wish to share:  Past Newsletters and Subscriptions

International Business

Business Innovation

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International Business

Business Tools

The Various Types of IRAs

End of the year business planning often brings about discussions about retirement planning which typically in the US include mention of individual retirement accounts, or IRAs. IRAs are retirement investment vehicles that can be used in place of or in conjunction with 401(k) plans.

Many investors like IRAs because they give them a certain measure of choice in regard to their investments while allowing investors to postpone paying taxes on gains until money is withdrawn during retirement.

One common misconception about IRAs is that there are only two types, when there actually are many more. Depending on which definitions and resources you go by, there are as many as 11 types of IRAs. Financial advisors can help people choose the appropriate IRA based on their needs and goals. Here’s a look at just a few of the more popular IRAs.

Traditional IRA

Traditional IRAs are very popular, according to data from the Investment Company Institute. Classic features include a tax break of up to $6,000 initially, and investment earnings are not taxed as long as the money remains in the account. Money Management International says one advantage of a traditional IRA is that contributions can be taken as tax deductions in the tax year they are made. This type of IRA might be good for someone who anticipates being in a lower tax bracket upon retiring, since taxes are paid when funds are withdrawn.

Roth IRA

A Roth IRA is different than a traditional IRA in various ways. Contributions to a Roth IRA are not tax-deductible, but funds will grow tax-free. Also, with a Roth IRA, the taxes are paid upfront, so account holders will not pay taxes when the money is withdrawn. This is beneficial for those who expect their income tax bracket to rise after retirement.

SEP IRA

This type of IRA is a traditional IRA, but one set up and funded for employees by an employer. SEP stands for simplified employee pension. Employers must contribute equally to all employee accounts, and personal contribution limits are much higher for these accounts than on other tax-favored accounts.

Spousal IRA

The financial resource The Motley Fool notes that spousal IRAs are either traditional or Roth IRAs funded by a married taxpayer in the name of his or her spouse who has less than $2,000 in annual compensation. The couple must file a joint tax return in the year of the contribution.

Education IRA (EIRA)

Not all IRAs are strictly for retirement funds. EIRAs help pay for higher education. No tax deductions are allowed, but deposits and earnings may be withdrawn tax-free so long as they are used to pay for higher education.

IRAs are tax-advantaged tools for setting aside funds for retirement and other needs.

Lifestyle

Executive Fitness

Home Gym for $65!

Gyms just closed again in California, as they have in many locations.  Honestly, after seeing how some people wear their masks, and social distance, I didn’t feel all that comfortable when they were open.  So, conditioning is again back to the garage or backyard and thus getting creative is a must.  There are a lot of products being marketed online to fill this gap, but many of the better ones are sold out and/or come with a large price tag.  Although very skeptical about low cost fitness gadgets, I decided to drop the $65 and try the Power Press Push Up Board which is advertised throughout social media.  I am presently surprised.  It is unbelievably easy to follow and well manufactured.  Since it is very simple to transport, the board can also get you out of the garage and outside if weather permits.  Give it a look, you might like it too.

Lifestyle

Spirits & Cuisine

Tips for Slow Cooking Quick Holiday Meals!

Kitchen gadgets come and go, but one mainstay continues to deliver tasty meals with ease.

The Crock-Pot®, dubbed the original slow cooker, was invented in 1940 by Irving Nachumsohn. This slow cooker was created to cook a traditional stew eaten on the Jewish sabbath. Because faithful Jews are forbidden from cooking on the sabbath, Nachumsohn found the stew could easily be prepared prior and allowed to cook unattended, then carried to dinner, meeting the sabbath requirements. It was another 30 years before the slow cooker garnered widespread acclaim. That newfound popularity developed when more women entered the workforce and needed convenient ways to prepare meals at home without affecting their work schedules.

While slow cookers can make for successful meals, knowing how to use them to their fullest potential can increase the propensity for delicious, easy dishes. Here are some tips and tricks.

· Prepare ingredients the night before. By handling the items for recipes the evening prior, you’ll have everything you need ready to put in the slow cooker and set to cook for the day.

· Preheat the cooker. Add ingredients to a slow cooker that is already warmed up for best results.

· Arrange for easy cleanup. Specially designed slow cooker liners can cut washing time dramatically and help prolong the surface of the internal crock.

· Don’t add dairy until the meal is almost finished cooking. Cooking dairy products for long periods of time can cause them to curdle. Save them for the last steps when using a slow cooker.

· Exercise caution with tender veggies. The same wait-until-later approach should also apply to vegetables, beans and pastas, which can lose their integrity and become mushy if cooked for hours. Leave them for last.

· Inexpensive cuts of meat are fine. Inexpensive cuts are often high in fat or connective tissue, which will break down during long, moist cooking. Consider browning meat before putting it in the cooker for even more flavor.

· Layer ingredients appropriately. Place hard ingredients like potatoes, carrots and other root vegetables at the bottom of the cooker where they will cook more readily.

· Stick to the low setting. As much as possible, cook using the low setting to allow for slow, gentle heat to bring out the flavors. Ginny Thomas, a training manager for Crock-Pot®, says she has been sticking with this advice for over a decade as a key tip.

Many traditionally prepared meals can be converted to slow cooker recipes. Utilize cookbooks and online resources to make delicious, slow-cooked meals.

Lifestyle

Leisure & Style

Simple ways to Prolong the Life of Poinsettias

With proper care poinsettia plants can continue to thrive and bring warmth and beauty to a home long after the holiday decorations have been tucked away.

Poinsettias and their rich red, white or variegated color schemes are the ideal backdrop for Christmas celebrations. In fact, poinsettias are among the most popular decorative flowers during the holiday season.

According to a recent USDA Floriculture Statistics report, poinsettias accounted for about one-quarter (23 percent) of all flowering potted plant sales that year. Roughly 34 million poinsettia plants are sold in a given season. Indigenous to Central America, the plant was introduced to North America in the 1820s when Joel Roberts Poinsett, the first United States Minister to Mexico, brought the red-and-green plant back with him from a trip abroad.

While millions of poinsettias will be purchased for the holiday season, many mistakenly think their utility ends once New Year’s Day has come and gone. But with proper care poinsettia plants can continue to thrive and bring warmth and beauty to a home long after the holiday decorations have been tucked away.

· Choose a hearty plant. Experts with the University of Vermont Extension Department of Plant and Soil Science say that many people mistake the plant’s leaves for its flowers. The red, white or pink bracts are actually modified leaves. The flowers of the plant are the yellow clustered buds in the center called “cyathia.” Choose poinsettia plants that have buds which are, ideally, not yet open.

· Keep the temperature consistent. Poinsettias prefer a room temperature between 60 and 68 F during the day and 10 degrees cooler at night. Humidity levels between 20 and 50 percent are ideal. Group plants on water-filled trays full of pebbles to help increase humidity levels.

· Place near sunlight. The United Kingdom-based Perrywood floral company advises placing poinsettia plants near a bright windowsill but not in direct sunlight. Do not let a poinsettia touch cold window panes.

· Avoid drafts. The plants are sensitive to drafts and changes in temperature. So it’s best to keep poinsettias away from drafty doors, windows, radiators, or fireplaces.

· Don’t drown the roots. Wait until the surface of the compost dries out before watering the plant anew. Also, the decorative foil wrapper that covers pots can trap water and lead to root rot. Remove it or poke holes in the bottom to allow for drainage.

· Cut back plants. Come mid-March, cut back the plant by half to encourage new shoots, suggests the University of Illinois Extension. The plants also can be placed outside in the spring after the risk of frost has passed. Bring poinsettias back in around mid-September to early October to force them to bloom again.

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