Twila Van Leer

Internships Can Build Your Resume

September 24, 2014 By Twila Van Leer

Internships Can Help You Establish Important Relationships

The kind of practical experience you get from an internship is a valuable asset when you begin listing your qualifications for a job. You’ll have a little competitive edge when you begin job-shopping if the HR person can see that you’ve been exposed to the real world of employment.

An internship also may be very valuable in helping you to decide if a certain career path is right for you. You may decide to rethink your ultimate goals after having some solid hands-on time in the field.

Some suggestions for hunting out good internship opportunities:

Don’t wait until you are an upperclassman to scope out the possibilities. Although most internships are designed for juniors and seniors, there may be opportunities earlier. If you don’t find what you’d like, at least you have the experience of seeing what is available while learning the ropes for the future. You’ll be that much ahead of the competition. Knowing where internships may be had could guide you in tailoring courses so you’ll be ready when the applications become serious.

The career placement center in your college or university is a valuable resource. They are current on the challenges of today’s employment realities. They know where the jobs are and which fields are most crowded. The experts in the center can guide you in seeking job-exposure opportunities. Practice your future job-seeking skills by dressing appropriately for your interview with the career center advisor. Bring a resume. Knowing you are serious may give you an advantage over other students as the competition begins in earnest.

Call on the resources you have at hand. Your family and friends are fair game for requests for information about internships available at the companies where they work. Take advantage of any inside information they may have. Look at your institution’s lists of alumni who might want to give someone from their alma mater the opportunity to share in their success.

Whatever it takes. The rewards for seeking out internship opportunities could be great if they give your resume that extra touch employers are looking for.

Know the Rules About 401(k) and IRA Withdrawals

September 22, 2014 By Twila Van Leer

For millions of Americans, 401(K) and/or IRA accounts figure largely in their retirement plans. But the two methods of saving are regulated by different rules and knowing those rules is important when you are ready to take money out of the accounts.

A 401(k) may be involved in your employment compensation package and many employees want to take money from that savings when they leave the company.

The Internal Revenue Service imposes a 10 percent penalty for early withdrawal of IRA savings if you are under the age of 59.5, but the rule does not apply for 401(k) plans. For the latter, the rule does not apply if you are over 55 years of age, so you don’t have to wait until you have passed your 59.5 mark to take out the money.

However, if you do withdraw from your 401(k), you will have to pay taxes on whatever amount you take.

There are several categories of employment that qualify 401(k) holders to avoid the early withdrawal fee as early as 50 years of age. These include public safety employees such as policemen and firefighters, and emergency medical service providers for states or municipalities who leave the service in or after the year they turned 50.

There are publications that will help you determine how best to manage your retirement accounts. IRS Publication 575, titled Pension and Annuity Income, is one of these. It is online at www.irs.gov. It contains sections on separation from service and other specific elements of how to manage income from the retirement plans.

IRAS have different qualifying rules. You face an early withdrawal penalty if you take money from your IRA before you are 59.5. Any money you take out before then is subject to a 10 percent penalty and also is taxable. An exception may be possible under Section 72(t) of the Internal Revenue Code, but that requires that you commit to a series of substantially equal periodic payments.

Because the rules differ and are complex, financial experts advise that you involve an accountant at the outset. When you finally are serious about withdrawing IRA funds before you have reached the required age, you may need advice, because once you have chosen a formula, you are required to keep the same method.

A distribution form will ask you to choose among several formulas for receiving payments and whether or not it qualifies for an exception from the IRS penalty. Your chosen accountant or IRA custodian probably will have information, including a pamphlet that sets out the IRS requirements. The tax form that you may have to file in the process – Form 5329 – also outlines the guidelines for exclusions. Another resource is “Retirement Topics, Exceptions to Tax on Early Distributions” an IRS chart that shows exceptions to the 10 percent penalty. In addition, the IRS Publication 590 delves into individual retirement arrangements. It is free by calling 1-800—TAX-FORM.

Again, a word to the wise. Get expert help. Tax issues are not the category on which you want to do the do-it-yourself thing.

10 Jobs That Don’t Require Higher Education

September 21, 2014 By Twila Van Leer

Truck driving requires no college education.

So much is said of the benefits of getting post-high school education when it comes to job-hunting that many very good jobs may be overlooked by newcomers to the job market. Those just coming out of high school need to know that there are good-paying opportunities that don’t require a college degree or prior experience.

Check these out:

Delivery Drivers

– are always wanted by national, regional and local companies. You need a good driving record, a current license. You may find a job in this field offers the flexibility to accommodate additional schooling. Annual salary range, $21,903 to $47,898.

Garbage Collection Jobs

– are for those not adverse to rising early. They offer most holidays off and may include good benefits. Exercise on the job is a side benefit. You must be physically fit and able to lift heavy items. Look at Waste Management’s career site for details. Salary range, $19,920 to $59,922.

Bill Collectors

– have a choice of jobs as the number of positions is expected to expand by 19 percent in the next 10 years. Requirements include the ability to communicate by phone and having good customer service qualities. Salary range, $21,903 to $47,898.

Security Guards

– have a wide choice, including mall policing, sentry positions at embassies and other secure facilities, Homeland Security officers at airports, and secure cash transport for financial institutions. A high school diploma is all that’s needed for most of these jobs. You may be asked to submit to periodic drug testing, have a clean criminal record and obtain a firearms license. Salary range, $18,161 to $38,999.

Bar Tenders

– need no formal education, but would benefit from a bar tending course. The work can be difficult as you work with people from many different backgrounds and walks of life. In some places, laws hold bartenders responsible for not allowing patrons to drink to excess. The ABC Bar Tending School site lists bar tending school locations around the country. Salary range, $13,085 to $47,298.

School Bus Drivers

– must have clean driving and criminal records. The work is primarily morning and late afternoon. Most employers offer the same holidays and days off that teachers get and the same benefits. Salary range, $16,404 to $39,883.

Real estate brokers

– usually spend several years generating a clientele and the expertise to make big money, although the potential for a large income is there. You need an agent license to join a real estate firm. The license involves a 60-hour course of study and there are additional courses to become a full- fledged broker. Salary range, $30,303 to $227,211.

Oil Field Workers

– at entry level, need nothing more than a high school diploma. Oil companies provide on-the-job training in specific assignments. Some oil field work involves travel around the world. The work is outdoors and offers good pay and benefits. Salary range, $19,000 to $45,000.

Cable TV installers

– learn on the job. An ability to interact well with many types of people is an asset. Contact your local cable company for details. Salary range, $21,584 to $51,855.

Truck Driver

– To drive an 18-wheel truck, you would be away from home much of the time, but the jobs offer good pay and benefits and require minimal training. Many trucking companies pay for training and assist in obtaining a Commercial Driver’s License. Medical exams and background checks may be required, depending on what you would be hauling. Salary range, $27,528 to $67,393.

Alibaba Debuts On the U.S. Market

September 18, 2014 By Twila Van Leer

Friday, Oct. 20 will go down as the day Chinese mega e-commerce giant Alibaba Group Holding made its grand entry into the U.S. market. It was listed on the New York Stock Exchange Friday at 9:30 a.m. (Make that Friday at 9:30 p.m. for those in Asian markets.)

To celebrate the event, Alibaba Chairman Jack Ma was to ring the bull’s opening bell. The company’s shares will trade under the symbol BABA. The company hopes to raise as much as $125 billion in U.S. dollars. The analysts are saying that if share prices come in at the expected range of 66-68 U.S. dollars, they will make history as the biggest initial public offering (IPO) ever, eclipsing the record of Agricultural Bank of China, which raised $22.1 billion USD in 2010.

Alibaba.com Limited is an investment holding company that provides software, technology and related services, primarily on the online business-to-business marketplaces around the world. It was founded in 1999 and is based in Hangzhou, China. Its phenomenal growth has been the talk of financial circles. It is China’s biggest online e-commerce firm and handles more business than its rivals.

The last two weeks have seen a rigorous marketing campaign in major U.S. cities, which ended Thursday pending the Friday opening. The demand for shares has risen so fast recently that bankers had to stop taking orders in some places. Friday’s IPO will answer many of the questions that have arisen about the stock prices.

In its U.S. debut, it is offering 320 million shares, 123 million of them newly issued by the company and the remaining 197 million shares now currently owned by shareholders. Among top shareholders are Japan’s Softbank (34 percent) and Yahoo (22.4 percent.

Jack Ma owns 8.8 percent of the company’s shares and will be offering 12.7 million shares (0.5 percent) as the company starts trading in New York. Executive vice president Joseph Tsai will be offering 4.3 million shares, equivalent to a n 0.2 percent stake.

Flying High – With The Best Air Fares

September 16, 2014 By Twila Van Leer

The cost of air travel continues to go up, but with a little bit of Internet time, you can find the best possible fares.

Start with a search of discount travel sites, and don’t stop with just one. Compare. Popular sites include Expedia, Travelocity, Kayak, Google Flight Search and Hotwire. When you have made your comparison and think you have the best price you can find, act. Prices can change within minutes.

Skyscanner.com is a search engine that tracks prices for particular routes for a certain period of time – a month or a year. It’s easy to spot the best prices and the optimum times to fly as well as finding information on hotels and car rentals. You can receive email notices when the data changes.

Booking your flight online is cheaper than using the airline’s phone service, which adds a fee. Travel agencies also have started adding booking fees to replace revenue they used to get from the carriers.

Inform yourself as to the best times to fly. Be flexible if you are able. Tuesday, Wednesday and Thursday are the best days for private travel. Sunday is the most expensive. If you’re willing to make a brief stopover en route, it is less expensive than a direct flight. Early morning flights also are less costly.

As you would guess, holidays are not times to expect great travel deals. Christmas, Thanksgiving, Presidents’ Day, spring break and other high-travel times are when to avoid air travel if you can.

Booking ahead – six weeks, if possible, when the airlines are still hoping to fill up their flights, is usually the best time to get a deal. If you wait until a week or two prior to the date you want to fly, the airlines are clear on whether their flights are going to be full and they’re less anxious to offer deals. There are, however, last-minute deals to be had if you can be flexible.

Use your credit card to pay to take advantage of air mile offers. In addition, keep track of accumulated air miles through the airlines, particularly if you fly frequently.

The great majority of airports have shuttles or public ground transportation to get you to a post-flight destination. It’s less expensive than a cab. If possible, walk. If you rent a car, opt for the green alternative, a small, fuel-efficient car. Return the vehicle to the rental business fully gassed. They charge a premium to do that for you. And if you are really thinking ahead, consider driving to your destination instead of flying, then you’ll avoid a car rental.

Consider hotel alternatives such as condo or house rentals. Most units can be rented nightly or by the week. VRBO.com offers photos, details and prices and doesn’t charges a fee for the service. Make travel an occasion to visit family or friends, if possible. In exchange for their hospitality, help with groceries or take the hosts to dinner or some activity. And when it’s their time to travel, reciprocate.

Home exchanges can be arranged through homeExchange.com, SeniorsHome Exchange.com or Craigslist. That way, your home is not empty while you are away and you have housing at your travel destination. A win-win situation for both parties.