New Info Blog

Every company and business has great stories. We need to hear them, tell them and internalize them. The biggest challenges, however, are convincing others of the power of storytelling and the impact it can have in the business world. How can we do this?

Start a small booklet of good company/organization stories. Name the heroes and heroines. Ask others you trust to write up some stories for it. The stories should not be long, but all should include the beginning status quo, a character and/or characters, the crisis or challenge the climax and resolution, and how the original status quo was changed. Details are important, but should not be overwhelming.

With all of the easy-to-use desktop programs available today, you can put together a small booklet filled with these stories and give a copy to many of your peers. You will be surprised, once the word is out, how many other people will ask for a copy. It may be even time to start a small magazine or company newsletter that consists of stories.

Before a meeting starts (if you have any way of setting agenda items), ask if everyone would share a quick incident that they have recently encountered, what happened and if it changed their thinking and/or approach. Or ask what was the funniest happening last week. I know it may take some time to get this off the ground — and, I don’t suggest forcing everyone to take part in the beginning.

You will be amazed that if you can continue this quick story sharing introduction, those who haven’t contributed before will start having a story to tell and everyone will look forward to this. I know a company that started adding a half an hour to the end of their weekly sales meetings for a story sharing session. This soon became the most popular part of the meeting and, as storytellers know, the most valuable part of the meeting.

Once the storytelling starts to take hold — and it will if you are persistent and keep it going — the next step would be to call a group of the most enthusiastic story lovers and tellers together to work on the “Grand Narrative” of your company and/or organization. This will define what your group is all about. What describes the mission and goals in a clear and understandable way? It is OK to redefine your “Grand Narrative” even if you are a large, small, or even a one-person company.

Now is the time to take your storytelling plan to upper management. Convincing reasons that you can propose for capturing and using stories are to accomplish any of the following:

• Share knowledge for succession planning.
• Promote team development to enhance productivity.
• Exemplify values to build community.
• Capture lessons learned to develop best practices.
• Prompt action to change the company or organization.
• Record the past to preserve corporate heritage.

Armed with these purposes and the stories that have already been shared and recorded, you will be able to convince the group that storytelling should be a daily occurrence.

Chris King is a professional storyteller, writer, website creator / designer, free agent, and fitness instructor. You will find her storytelling website at http://www.storytellingpower.com and her business website at http://www.creativekeys.biz You will find her new her information-packed E-book How to Leave Your Audiences Begging for MORE! at http://www.OutrageouslyPowerfulPresenter.com

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How would you feel if you could change your annual salary into monthly salary? Well, the teachers of The Secret, Bob Proctor, Michael Beckwith, and Jack Canfield have come together to create a unique program called the SGR program to help you master the Law of Attraction to attract wealth. Wallace D. Wattles believed that there was a “certain way” to create wealth in our lives. When we think and act in that certain way, we create opportunities to acquire wealth and get rich. In other words, getting rich is a science we all need to understand to get whatever we want from life.

In the SGR program, Bob discusses this science methodically through an audio program made available to members in the form of 10 CDs. He also encourages members to practice the Law of Attraction so as to get more clarity in life.

The SGR Program comprises of:
• A home seminar program that aims to teach you the Law of attraction
• An attractive affiliate program that can help you make good money and earn handsome rewards

The seminar is basically a pragmatic personal growth program based on Wattles’ principles of acquiring wealth. By wealth, Bob does not necessarily mean money – it could be even spiritual or emotional wealth that you would want to have in abundance. The CDs come with an MP3 player so that you can actually learn or revise even while you travel to work.

Other highlights include:
• A 180 page workbook pertaining to law of attraction and an action planner
• The original book redesigned for a briefcase
• $500 gift certificate to enable you to attend live seminars
• A SGR goal card

The affiliate program on the other hand allows you to make money for helping others without any extra cost to you. After all, the SGR program is all about personal growth and well being and there is no reason why you shouldn’t spread a word about this wonderful program that has already made a meaningful difference to millions of people.

The complete review of the science of getting rich with Bob Proctor can be discovered at http://www.thescienceofgettingrich-wallacewattles.com Find out everything that you thought you knew!

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Greetings to one and all, in the name and memory of Herbert W. Armstrong who visited and addressed many leaders of the nations you represent here today.

Mr. Armstrong, ambassador for world peace without political portfolio, was a man sent by the Great Creator God (who made all men and determined the boundaries and languages of each nation) to deliver a bittersweet message.

I shall also deliver that bittersweet message, standing before you, facing the nations, dressed in a black t shirt, jeans and sackcloth — not your typical attire for such important affairs, but these are not normal times and business as usual will soon be history, as you all very much know and express your concern by gathering here in the United States of America to address these issues that threaten all mankind.

The world waits with bated breath to hear the recording of the former tyrant Saddam Hussein and questions whether they will confirm his weapons of mass destruction program and justify President George W. Bush’s decision to launch his preemptive attack against belligerent Iraq.

Regardless, our American troops have already been dispatched, they have bravely fought and deposed the proud dictator who imagined himself a modern Nebuchadnezzar driven to destroy the Jews, and free elections have now been held in that liberated country – not that democracy alone is the message God has ordained our British-Israelite nations to spread. However I share with you a greater recording that will directly affect each and every one of you, and trouble your nations and bring mankind to the brink of extinction unless that “Strong Unseen Hand from Someplace” intervenes and saves us from ourselves.

From reading Ryan Mauro’s book, Death to America: The Unreported Battle of Iraq — it was impressed upon my mind how mad some Muslims are driven by the jinns of jihad and insanely seek to wreak havoc and destruction upon all the world who rejects their false vision. I gladly testify that not all Muslims share their perverted passion, as is evident in noble men like Sheik Abdul Hadi Palazzi of Rome, Italy.

However, I do solemnly affirm that such spiritual sickness does not only afflict the Muslim world, but that such religious fanaticism is again to rear its ugly head in blood-soaked Europe. Europe’s rapid response to jihad will be a new crusade that will slaughter both Arabs and Jews and every Christian who doesn’t agree with the Roman Catholic Church!

The Prophet Daniel records some great provocation, an Islamic confederation or network of sorts that is soon to butt heads with Catholic Europe (Daniel 11:40-45), resulting in a blitzkrieg operation that will strike them dead in the Middle East, taking out countries like Egypt and subduing Libya and Ethiopia and undoubtedly overwhelming Iran.

That is good news. Europe — not America — will neutralize the Nazi-Muslim threat. However, the bad news is that it will bring out the beast in Europe and only whet their appetite for more blood. Europe will morph into the final revival of the unholy Roman Empire of the German Nation, and demand Jerusalem become an “international city,” as called for by the accursed UN Resolution 181. The Germans and Jesuits have been the major influence behind this strategic move and have their evil eyes on the prize of Jerusalem, especially the coveted Temple Mount.

The whole world has been focusing on Islamic terrorism, as is understandable, but the greatest threat to world peace is the German-dominated European Union! The United States has foolishly been helping to create such a Frankenstein Monster that will brutally betray both the American, British and Jewish peoples. Herbert W. Armstrong warned of this clear and present danger — as an early warning system — for years. The weapons of mass destruction that the increasingly fascist EU possess will unleash nuclear terror upon our major cities and rain down death and destruction upon us and those who survive will suffer deportation due to our idolatry and immorality.

These biblical warnings, based upon reliable information obtained from Daniel and the Book of Revelation, are the greatest recording all mankind must hear and heed — if we’re to be spared from WWIII. I’m here to announce this plain truth as a witness and a warning and share it within Beyond Babylon: Europe’s Rise and Fall. What you do with it is between you and your Maker, but I encourage you to take it seriously and choose life and help save your respective nations.

David Ben-Ariel is a Christian-Zionist writer in Ohio and author of Beyond Babylon: Europe’s Rise and Fall. With a focus on the Middle East and Jerusalem, his analytical articles help others improve their understanding of that troubled region. Check out the Beyond Babylon blog.

Tags: Ally, appetite, Ast, bad news, beast, bet, blitz, blog, business, catholic church, cia, country, creator god, dea, doubt, E Book, early warning, ears, european union, focus, Fre, god, Hadn, heck, heir, history, inc, informat, intelligence, Irs, jews, laugh, lot, lpi, Major Cities, memory, mmi, passion, People, plain truth, politic, prophet daniel, Rate, Regard, rent, respect, revival, rise and fall, roman empire, sit, slam, Sorts, Suits, Target, truth, ugly, united states, witness, work, writ, Yea

With the unreliability of the stock market these days, more and more people are looking into Forex trading. Why, you ask? It’s really simple – because it’s easier to make money in Forex trading than in any other financial markets out there, and the risks involved are notably less.

If you are interested in beginner investing for Forex trading, you’re in the right place. The Internet is home to a number of websites dedicated to helping beginners like you make it in the foreign currency market. Almost every piece of information about anything and everything under the sun is readily accessible nowadays, thanks to the advancements in technology, and doing some research is the first step in your journey if you want to earn big bucks in the Forex market.

Instead of going out of your house and browsing through rows upon rows of shelves at the bookstore, just type in the right set of keywords onto the search engine and after a few seconds, voila! You have all the information you need for beginner investing for Forex trading. You won’t have to spend a dime, and you can easily sort out the authorities on the subject matter at hand from the wannabes. It is very important to filter information and trust only those that come from credible sources; otherwise, you’ll be working your way through the Forex market like a blind person.

As a beginner, it’s important that you invest in books. Beginner investing for Forex trading requires you to study the history of the Forex market and, more importantly, predictions for future trading strategies. You also have to learn how to read charts and master the foreign currency lingo in order to feel at ease, feel right at home whenever you’re trading. While you can find several e-books online, most of the reputable guides and manuals written by Forex market experts are published outside of cyberspace. The books you buy and the information they’ll give are priceless, so you can expect great returns for your little investment.

The most important thing in beginner investing for Forex trading is keeping yourself updated. Make it a point to read the newspaper everyday. Don’t just turn right away to the business section; the value of a particular currency rests on many factors, including politico-economic issues and natural disasters in the country of that currency. It’s best if you read every page of the paper. Moreover, the market landscape of Forex trading changes everyday, that’s why it’s vital that you make it second nature to keep yourself abreast of the changing market value of different currencies, especially the major ones, so you know what to buy and what to sell.

Finally, don’t forget to take down notes. While it is exciting, Forex trading is in truth a hit and miss thing. There’s no or little insider information and the values are constantly fluctuating, not fixed. Remember to keep a record of all your losses and your profits. This is the only way you can point out your mistake and avoid them in the future.

With a little help, you can be successful at beginner investing for Forex trading.

Sick of not being successful with beginner investing for forex trading? Invest in other world currencies – Forex trading is one of the easiest and most profitable ways to generate money quickly. You must visit http://www.ForexReviewInsider.com to find out which systems are the most profitable and easy to use.

Tags: Ally, Ast, Books, Bookstore, business, cia, country, Credible Source, currencies, currency, currency market, cyberspace, Diffe, disaster, E Book, e books, economic issues, expert, financial, financial markets, fit, foreign, foreign currency, forex market, forex trading, future trading, history, home, inc, informat, insider information, investing, investment, Irs, journey, losses, lpi, Make Money, market, market experts, markets, mistake, money, People, politic, Profits, Rate, rent, review, risk, Searc, search engine, sit, stake, stead, stock, stock market, Stu, subject matter, Success, sun, Target, trading, trading strategies, truth, Valu, work, world currencies, writ

While I’ve really enjoyed Robert Kiyosaki’s ideas—you probably know him from Rich Dad, Poor Dad, I have found that financial books written by women have a better understanding for the specific issues women deal with financially. It’s that resonance factor. Barbara Stanny, a trust fund baby who’s dad was the “H” in H&R Block, nearly lost her fortune allowing her husband to manage her money. When she suggested that she manage it, both her husband and her father laughed at the idea. With relatively little left in her trust fund, she educated herself in money management, then wrote, “

Prince Charming Isn’t Coming; How Women Get Smart About Money.” I just loved this book. The final chapter explains the importance of women gaining economic power and their potential for making powerful changes in the world. Barbara Stanny’s second book, “Secrets of 6 Figure Women” was even more packed with empowering insights and best of all, models of financial sustainability—women who had learned to overcome their fears and their programming and ask for all they deserved.

One of my favorite all time inspirational speakers, Jim Rohn says that everyone should become a millionaire; not for the money but for who you become in the process. Stanny echos that idea in Chapter 7: Strategy #4 Speak Up:

Asking for more is an act of self-love

Saying no is a show of self-respect

Refusing to settle is a statement of self-worth

Walking away is a sign of self-trust

She concludes the chapter with the idea that as you practice this, speaking up becomes something you have to do (vs. should do) because you know in your heart you are worth it. The chapter also explains why this is especially difficult for women.

No list of financial books worth reading would be complete without Suze Orman’s expertise. Though I’ve read criticisms for her soft approach, some stating that an article for men would never be written that way—I think that’s the whole point. If you want that style article, there’s plenty to choose from. Ormans philosophy is what sets her apart from the dry, left brain only mentality that just isn’t enough in and of itself. If a list of step by step how-to’s was enough, we’d all be living lifestyles of the rich and famous. God knows there’s enough straight talk out there. It’s refreshing to get it all in one package. Any one of her books is high on my list of recommended reading. Her latest one, “Woman and Money: Owning the Power to Control Your Destiny” may be the best place to start, though one of my all time favorites is The Courage to be Rich: Creating a Life of Material and Spiritual Abundance.” Just the idea that it takes courage to be rich is intriguing enough, don’t you think? It’s packed with practical advice and some ideas that will help you think about money from a more empowered perspective.

O.K., so that makes four books; consider it a bonus! Each of these books is a good read guaranteed to alter the way you perceive your financial possibilities. Each book presents interesting ideas to follow through on but it isn’t just the major shifts, like setting up a Roth account that alter your financial future, it’s the accumulation of little every day thoughts and actions that lead to long term results. Trying to change too much at once can set you up for failure. The best way to alter your financial reality is by gradually altering the mental maps that dictate the way you perceive the world. Little shifts, inspiring ideas, absorbed consistently, over time is the way our brains best acclimate to new information and the changes we would like to experience in life, like positive cash flow and increased net worth. With that in mind…

Bonus Book #5: A real treasure in the world of outside of the box money management: Don’t Stress – Manifest: 21 Truths to Set You Financially Free by Barbara Zagata. This empowering little book is so inspiring and so enjoyable, you’ll want to read it again and again. In a way, it’s the Law of Attraction in action! and it’s so much more. Best of all, if you’re feeling hopeless about your finances you don’t have to wait for Amazon to mail you your next dose of motivation because Don’t Stress Manifest is available as a super affordable get-it-now e-book.

You can access DSM plus other empowering tools to set you free financially at http://www.stressfreepersonalfinance.com While you’re there be sure to subscribe to Pathway2Abundance, the e-zine that compliments the 21 Truths and get your special report: From $10,000/Year to $10,000/Month!

Tags: advice, Ally, avail, bet, bett, bonus, Books, brain, cash, Cash Flow, chapter 7, cia, climate, compliment, Control, dea, E Book, e books, ears, expert, failure, fear, fears, finance, finances, financial, Fortune, Fre, god, heart, heir, inc, informat, Insight, laugh, Law Of Attraction, Lifestyle, lost, love, Mai, mail, Map, met, millionaire, mmi, models, money, Money Management, motivation, net worth, Personal, perspective, Philosophy, positive cash flow, possibilities, presents, Rate, respect, sit, strategy, Stress, Target, tool, trust fund, truth, writ, Yea

Myself and my (now) ex wife, found it rather easy to divorce, and this was mainly due to the methodology we used. It’s a simple strategy and it’s something that is guaranteed to save you money.

Here it is, your pathway to a cheap divorce, in easy to follow steps -

First we both decided that lawyers would not be called until a mutually agreed time, or if things got a little out of hand, and we couldn’t remain civil while we went through our plan.

Next we both went round our home, and made a list of everything we had in there as well as everything that WE each wanted. So if I felt the TV was/should be mine, then I made a note of that. My wife did the same.

We chose to go round the house at separate times of the day, as we weren’t getting on at the time (hence the divorce I guess), and we compared notes the following day. At our meeting we both went through each others lists, and shouted and complained if someone had named something as theirs, that the other party felt shouldn’t be, and we went on like this for most of the day. It’s a fairly painful process, but it needed doing in order to save cash, but this could just as easily have been done via email if things had gotten nasty.

The day after that, after many phone calls back and forth, we came to an agreement on who gets what.

Next was the money side of things; again this took a few days, and we each shouted a lot, and finally sorted the accounts, the property, and the debts.

Lastly, we wrote all this up and made two copies, which we each signed, and had independently witnessed.

It was then, and only then, that we called our lawyers. We each handed our lawyers the signed papers, and said to them, “make this legal”, and that was it; a week or two later we had our legal document for the divorce, and all went ahead smoothly, as we had sorted everything out prior to meeting and instigating the proceedings.

Can you see how much time and especially money, this could save you?

It’s painful, horrible, bitter and and can be stressful, but aren’t all divorces? Isn’t it better to come out of this process, stressed, and a bank account fairly split, and still intact?

It made sense, and worked wonders for us. We worked out that we saved, about $5000 in legal wrangling and arguing through lawyers. You should do this too.

Sean Redfearn is a divorcee and runs a website on Cheap Divorce

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Pick Up Forex Trading Now!

The name Forex, come from Foreign Exchange Market, which also referred as “Forex” or “FX” in short. Basically it involves a pair of currency. Meaning you buy a currency in exchange to another country currency.

For example if you visit Hong Kong from US. What would you do? Go to the money changer, use your US dollar to exchange for Hong Kong dollar right? By doing so you are actually selling your US dollar and buying Hong Kong dollar so that you can spend in Hong Kong. So if you return to US, you too will exchange your Hong Kong dollar to US dollar. Now you are buying back US dollar and selling your Hong Kong dollar. By now I hope you get the idea of basic currency trading.

So why trade Forex, you may ask? Well Forex is a 24 hours market and it is one of the largest markets in the world in term of daily volume. It trade volume range from 1 to 3 trillion USD every day. This is 6 to 8 times higher than the volume of the stock market in the world. It provides a lot of liquidity in the market. The large volume of participants also reduces opportunities for insider trading. To put thing to simple, there has NEVER been a case of complete currency collapse in a developed country.

For Forex trading is there is no restriction of short selling. Meaning you can buy (Long) or sell (Short). This mean you can easily trade in a rising or falling market.

Another great advantage of Forex Trading is leverage. Typically leverage increases your buying power. With this you are able to increase your total return on investment with less cash outlay. Of course increasing leverage increase risk too. However if you know how to manage your risk, this should not be a problem. Example if you have only $1000 dollar cash in a forex margin account, and a 200: 1 leverage, you can trade up to $200,000 in notional value.

Here is only some of the basic information on Forex Trading. To pick up forex trading, you may search more information in the internet or buy some books on Forex to read. Understand the basic foundation of Forex is a must!

Yeo Kian Poh

Pick up forex trading at http://pickupforextrading.com Eric Yeo is the creator of Pick Up Forex Trading

Tags: advantage, Ally, amp, Books, cash, collapse, country, currency, currency trading, dea, Dollar, E Book, e books, exchange market, foreign, foreign exchange, foreign exchange market, forex margin, forex trading, hong kong, inc, informat, investment, laps, Leverage, Liquidity, lot, Marg, margin, market, markets, money, money change, notion, Outlay, Proble, risk, s market, Searc, sit, stock, stock market, Target, trade forex, trading, trillion, Valu

Last week I began my initial packing for my trip to London and Spain. The tricky business about this pack job is that after my London business trip a la ballroom gown and business attire, I will be hoisting my backpack and trekking across Northern Spain on El Camino de Santiago. What to do with the high heeled-shoes and strapless accouterments to the formal evening wear?

I checked prices with UPS, DHL, FedEx and a boutique luggage handling company for shipping the biz clothes home. FedEx offers the lowest estimated price, but the actual price will be determined by the weight of my returning bag. Therefore, I need to pack light as possible. Here are a few tips I’ve learned over the years about how to pack light to travel well:

1.) Make a calendar of the days you’ll be gone. Write down the outfit you plan to wear for the morning- for me that’s work, and more formal – and then the evening, more casual. Include every item that you’ll need. What color shoes? Do you need a belt? Which one? What from the first outfit can you wear two days later? Perhaps the top you wear under your suit can double for a work-out T later on. I plan to first use a piece for business when it is crisp and clean, and then use it a second or third time in a more casual venue. Once you have everything written down, you can start to edit. Do you really need black, brown and navy shoes? Re-plan your wardrobe so you only need one pair of dress shoes, and one pair of comfortable, casual shoes. What from Day 4 can you wear again on Day 6? Mix and match. Get rid of anything that you can’t use at least twice. Once you’ve reworked your list, pack only the clothes on the list. Not one item more!

2.) Try on everything before you pack it. You may need to run it to the dry cleaner. By trying on that backless evening dress, you’ll remember the special foundation that you bought to go along with it. How does it fit since the last time wore it? Take your shoes out for a ‘dry run’. Will you really be able to comfortably walk around Europe – or wherever – in the shoes you are planning to bring?

3.) Pack everything in the bags you plan to take several days before you leave. Feel how heavy your bags are. Do you REALLY want to be schlepping this much weight around the airport, the train station or the quaint bed and breakfast that you picked out on the internet – that has no elevator? Re-open you bag and take out 20% – or more – of what you already packed. How do you get rid of 20% of your packed panties? Get rid of 50% by using panty liners. Day 1 use fresh underwear with pantyliner. Day 2 – throw away panty liner. Get rid of the extra hair products. Put cosmetics in small containers, don’t bother with your pretty, but heavy, designer cosmetic bags. Ziploc bags are light and functional. Repack. NOW will you be able to lift your carry-on bag over your head to put in the overhead compartment without dropping it on the head of the person below? If not, start again from the top.

4.) Tear out the pages that you need from tour books and leave the rest at home. Books are heavy. Duct tape is much lighter to ‘re-bind’ the book into a smaller version. Clear packing tape works well, too.

Use these four smart tips to pack light, and you WILL travel well to any destination.

Would you like to learn more travel tips to improve your business or pleasure traveling experience? Check out our blog, http://www.wittigwriter.blogspot.com/ for more information about London, Spain and trekking El Camino de Santiago.

Stacey Wittig is a freelance writer based in Flagstaff, AZ. Her travel adventures have led her up the Inca Trail in Peru eating fried caterpillars and roasted guinea pig, across the plains of northern Spain on El Camino de Santiago enjoying tapas and steamed barnacles, and through the vineyards of Cinque Terre along the Italian coast sipping Chianti Classico. “Flagstaff is a remarkable place to call home,” declares the wandering writer.

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In a previous article, we explored why it was best to spend your IRA first. The first reason was to delay taking Social Security until age 70 to maximize the inflation adjusted income from a safe source, the United States Government.

The second reason was to have the IRA withdrawals taxed under the current tax structure since it is highly probable that tax rates will rise in the future. If you delay your IRA withdrawals, they may be taxed at a higher rate.

The third reason that was not covered in detail in the previous article is to reduce the amount of money that you will have to pay on your Social Security benefit income. We will cover this reason in detail in this article.

It may come as a nasty surprise to retirees that income tax must be paid on Social Security benefits if what the Internal Revenue Service calls your “provisional income” is over a certain limit. Provisional income is figured by summing your adjusted gross income, your tax-exempt income, and one-half of your Social Security income.

The more income you receive, the larger your provisional income will be, and the more tax you will pay on your Social Security benefits.

If you are married and your provisional annual income is over $44,000, you will be in the higher tier of provisional income and you could pay tax on up to 85% of your Social Security.

When you spend your IRA first and maximize your Social Security income, you will draw less from your IRA since more of your retirement income will come from your Social Security. This lowers your adjusted gross income which in turn lowers your provisional income. Lower provisional income lowers your taxes on Social Security. This gives you more after tax income to enjoy in your retirement.

Let’s take the case of two married couples who file jointly. They plan for $70,000 per year retirement income. For sake of simplicity, let’s assume that both couples have the same Social Security benefits at their normal retirement age and both have the same amounts in their IRA’s.

Couple #1 starts taking Social Security at age 62 and receives $30,000 annual Social Security benefits.

Couple #2 spends from their IRA’s first to delay taking Social Security. At age 70, they start receiving Social Security benefits of $48,600 per year.

At age 70, the pretax income for each couple will be:

Couple #1 $40,000 from IRA’s plus $30,000 Social Security = $70,000

Couple #2 $21,400 from IRA’s plus $48,600 Social Security = $70,000

If you want to skip the final tax calculations, skip down to the heading “Final Tax Amount” to see the tax savings from spending your IRA first.

Calculation of Provisional Income

For the calculation of provisional income we will assume that they did not receive any tax exempt interest.

Couple #1 $40,000 from IRA’s plus $30,000/2 Social Security = $55,000 provisional income.

Couple #2 $21,400 from IRA’s plus $48,600/2 Social Security = $45,700 provisional income.

As you can see, by spending their IRA funds and delaying Social Security, couple #2 lowered their provisional income by $9,300.

Calculation of Taxable Social Security Income

How much does that save in taxes? The IRS has made this calculation complicated. You can access the form for this calculation on page 25 of the Instructions for Form 1040 from the IRS website.

Since these couples will be over the upper limit ($44,000) for provisional income, the amount they will pay on Social Security income is calculated by performing two calculations and then taking the lesser of the two amounts from the calculations.

Calculation #1 = 85% of Social Security

Calculation #2 = $6,000 %2B 85% times (provisional income – $44,000)

For couple #1

The first calculation is 85% times $30,000 Social Security = $25,500.

The second calculation is $6,000 plus 85% times ($55,000 less $44,000) = $15,350.

The lesser amount from the two calculations is $15,350.

For couple #2

The first calculation is 85% times $48,600 Social Security = $41,310.

The second calculation is $6,000 plus 85% times ($45,700 less $44,000) = $7,445.

The lesser amount from the two calculations is $7,445.

Final Tax Amount

Now let’s calculate the total taxable income for both couples.

Taxable income for couple #1 will be total IRA income ($40,000) plus the taxable Social Security income ($15, 350) = $55,350.

Taxable income for couple #2 will be total IRA income ($21,400) plus the taxable Social Security income ($7,445) = $28,845.

To calculate the tax each will pay, we will use the 15% tax rate.

Couple #1 will pay $8,303 and couple #2 will pay $4,327. Couple #2 will save $3,976 in taxes over couple #1.

By spending their IRA first, couple #2 will have $3,976 more each year to spend on their retirement. Multiply this over the years in your retirement and it will take you on a few nice trips or allow you some pleasures that you would otherwise not have been able to enjoy.

In summary, spending your IRA first can increase your Social Security benefits, lower your tax exposure from potential tax increases in the future, and lower the tax you must pay on your Social Security.

Disclaimer: The information in this article is general information. If you want to leave an estate to your children or if you are in poor health, concepts presented in this article may not apply to you. Seek professional advice from your accountant or a professional advisor.

Copyright 2008 John Howe, Inc.

John V. W. Howe is an entrepreneur, author, inventor, patent holder, husband, father, and grandfather. He has developed several websites to help retirees (or soon to be) plan for retirement.

His newest website, http://www.SPEND-til-THE-END.com, discusses and reviews the controversial new financial planning book, SPEND til THE END, written by Laurence Kotlikoff, Professor of Economics at Boston University, and Scott Burns, nationally syndicated personal financial advice columnist.

SPEND til THE END is packed with many gems of retirement wisdom.

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