Are you feeling tired and run down? Do you feel like the only way to recharge is by having a week long vacation at the beach? We all get run down at times, but if we don’t take time to … Continue reading
Healthy relationships are key to leading a satisfying life and achieving long-term happiness. That’s the insight from the Harvard Study of Adult Development, the largest, longest running study of adult development in history. Since 1938, researchers have been surveying participants every two years on the quality of their marriages, job satisfaction and social activities. Participating subjects’ physical health was tracked every five years.
In his popular TED Talk, Robert Waldinger, psychiatrist and fourth director overseeing the Harvard study, says the long-running study has consistently shown people who fare best in terms of overall health, longevity and happiness are those who have solid relationships with family, friends and community. Additionally, those with consistently high-conflict relationships actually fare worse in each category than those with fewer but more stable relationships.
With that in mind, here are a few simple ideas for building healthier, long-lasting relationships:
Trade FaceTime for face time. Technology has promised to connect us, and it does in many ways, but it can also hinder intimacy. Setting a few limits on tech, so you can truly connect with loved ones, is important.
Ask yourself one question. Whenever you have an important decision to make, ask yourself, “Is this good for my relationships?” For example, a better job may be financially good for you and your family, but it could take a heavy toll on your time, putting your relationships in the back seat. Consider this question carefully to help you clarify even the most difficult of decisions.
Friends and family in need. It’s important to communicate with loved ones who are elderly, in poor health or those you haven’t spoken with in a long time. You don’t have to give advice or do anything to “fix” situations. Showing up says enough. If physical distance is an issue, try calling rather than texting, emailing or using social media. Your voice can convey much more than an electronic communication.
Like a good neighbor. Whether you volunteer for a school or non-profit, mentor someone, or regularly attend a place of worship or other civic organization. Community organizations can be an important relationship source and help you develop bonds that fulfill you, while serving others.
Investing in your best “future self” means spending time where it will benefit you the most. And today, even science says our relationships pay the longest lasting dividends.
Sources: Business Insider, TED, Reader’s Digest
UCCU Financial Center: Building for the Future
The new building, the UCCU Financial Center, at Lehi Point is open. Management and the Board of Directors of the credit union have planned very carefully for the future needs of the credit union and its members and are taking full advantage of this location. Several floors of the new center will be leased out to other businesses until we grow into them. Office space is in high demand at “Silicon Slope” and the interim lease income will benefit the members. The old Lehi office located near Smith’s in north Lehi has moved into the 1st floor of the UCCU Financial Center.
Credit Union membership continues to grow at rates well above the national average. Utah County continues to rank among the fastest growing counties in the nation and the credit union is committed to building and preparing for the future.
60 Years ago, we opened our doors on the BYU campus. This new UCCU Financial Center marks our 18th office location in a network of branches serving the current membership of over 130,000. The credit union surpassed the $1 Billion dollar asset mark last year.
As we build on the shoulders of those that came before us, we look forward to a bright future for UCCU. Here’s to 60 years and to you, the members that make up this great financial institution, and to the wonderful employees that work daily to inspiring smart financial decisions.
At Utah Community Credit Union we are proud of our beginnings. If you haven’t heard by now, we are celebrating our 60th anniversary this year, and everyone in our community is invited to the party!
This isn’t a party with balloons and streamers. Better yet, our celebrations include gifts that keep on giving! Starting September 1st, and through the end of the year, UCCU’s Visa Credit Cards will offer a base rate starting at 6.0%*.
While everyone else has high interest rate credit cards, come celebrate our anniversary by taking advantage of this great rate!
*Credit card variable Annual Percentage Rate (APR) is based on the Prime Rate published in the Money Rates column of the Wall Street Journal. We will use the most recent index value available as of the 15th day of the month prior to any rate adjustment. If the index value is not already rounded we then round up to the next .25%. To determine the annual percentage rate that will apply to your account, we add a 2.5% margin to the value of the Index. Limited time offer. Federally insured by NCUA.
With the passage of the Bipartisan Budget Act of 2015, two strategies to potentially maximize Social Security benefit payments were eliminated. Read this article to see if you still qualify.
Prior to the budget’s passage, married couples had two strategies to help maximize their Social Security benefits: “file-and-suspend” and “restricted applications.” ¹
Under file-and-suspend, the higher-earning spouse filed for benefits and then suspended them, allowing the lower-earning spouse to claim a spousal benefit. This also let the higher-earning spouse accrue delayed retirement credits. Upon attaining age 70, the couple then could switch to their own individual benefit to receive the highest possible amount.
A restricted application allowed an individual, upon attaining full retirement age, to file only for a spousal benefit, based on the individual’s spouse’s work record, delaying his or her benefits until age 70. Upon reaching age 70, the individual would then convert to his or her own benefit.
Married couples also could combine the above strategies with one spouse filing and suspending a worker benefit, while the other spouse filed a restricted application to receive the spousal benefit only.
These strategies could be used by divorced recipients, too. A divorced spouse was permitted to file a restricted application for a spousal benefit at full retirement age, as long as the former spouse was 62 or older. At age 70, the divorced spouse then switched over to his or her own worker benefit, assuming it was a higher amount.
The Policy Behind the Elimination
The elimination of file-and-suspend claims becomes effective on May 1, 2016. It also prohibits restricted applications for anyone who has not reached age 62 by the end of 2015. Since file-and-suspend is only available to those who have reached full retirement age, it remains available to individuals who are age 66, or will be so by April 30, 2016. (Couples who have already executed such claims are unaffected by the new law.) ²
The reason that Congress acted, and the President signed into law this change, was to save money and close perceived loopholes in the Social Security program.
Overall savings will be small compared to the larger financial challenges that Social Security faces. These changes will save about 0.02 percent of the taxable wages and self-employment income subject to Social Security taxes over the next 75 years, according to the Social Security Administration—a fraction of the program’s long-term deficit of 2.65 percent of taxable payroll.3 ³
According to one study, these changes will impact just 0.1 percent of all Social Security participants. ⁴
Strategy & Choices
There was one other change not yet widely discussed that may have implications for you.
For someone who exercised a file-and-suspend strategy, the rules provided the ability to receive a retroactive lump sum payment if an individual changed his or her mind and lifted the suspension. (They did lose any bump up in payment amount that came with delaying benefit payments, however.) This flexibility is also being eliminated under the budget act.
This ability to lift the suspension was a particularly important planning strategy because it allowed an individual who may have come down with a life-threatening illness or underwent a change in financial status to retroactively go back to their original filing date and receive a lump sum for the benefit amount not paid during the suspension period.
Keep in mind that Social Security has undergone a number of substantive changes since its inception. While the elimination of these strategies may be disappointing, these changes do not undercut the central promise of this critical social contract. In fact, they were implemented to strengthen it.
- Social Security Administration, 2016.
- Social Security Administration, 2016.
- The New York Times, October 30, 2015.
The New York Times, October 30, 2015.
For more information on this subject contact Steve Lloyd, Office Manager, UCCU Financial Group, at 801-223-7502.
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Real Estate is said to be one of the best long term investments out there. If that’s the case, then why put off getting into a home? For some, it’s because there is a misunderstanding on what is required to buy a home. Below are a four loan types and their down-payment requirements.
Many believe that 20% is required for this loan type, however,that isn’t true in most cases. By putting 20% down you won’t have to worry about mortgage insurance, and you would qualify for a lower rate. The minimum down payment required for this type of loan is actually just 5%. As for sourcing the funds, the full 5% down payment must come from the primary borrower.
This is a government backed loan. The minimum down payment required is 3.5%. Considering the nature of the loan, the down payment affects aspects of this loan less. Either way, you will be required to have mortgage insurance with an FHA loan. What’s the advantage to this loan then? The 3.5% can come as a gift from a relative, offering some flexibility on the savings.
VA loans are done via the Department of Veterans Affairs, and allow veterans of the U.S. Armed Services access to programs other U.S. consumers do not. One such program is the no-money-down VA loan.
With 100% financing and accommodating underwriting standards, VA loans make approvals simple and offer lower rates than a comparable conventional mortgage. Additionally, VA loans require no mortgage insurance no matter how much you put down.
First Time Home Buyer
For those who qualify, there are special loan products that will allow up to 100% financing. Those loan requirements can vary by location, so we recommend getting in touch with your local mortgage loan officer to see if you qualify for 100% financing.
The easiest way to make sure you are getting the best type of loan for your situation is to sit down with one of our Mortgage Experts to help you get the home you want, at a price you can afford. You’re just a phone call away from reaching your dream of home-ownership. Visit your local branch or contact us by email at email@example.com or by phone at 801-223-7640.