5-15 Articles - General Insulation

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1-4-2016 Financial 5-15

Happy New Year! We hope everyone had a happy and safe holiday!

We recently upgraded to Fleetmatics Reveal. Please make sure that everyone is logging into Reveal and not into the old Fleetmatics website. Also, everyone who uses Fleetmatics should now have their own individual username and password. If anyone at your branch still needs one, please contact Megan. Fleetmatics Reveal has an updated Dashboard that includes many metrics, including harsh driving, safety score, speeding severity, and more. All managers and drivers should be familiar with what each of these mean. Please contact Megan if you have any questions.

In Canadian news, the Loonie has continued to fall to 72 cents and is now at an 11 year low. This is mainly related to the falling prices of oil and other commodities, as well as the strength of the US dollar. One industry that has not suffered is tourism, as it is cheap travel to Canada right now and Canadians are traveling within Canada rather than going abroad. See attached article Loonie tanks below 72 cents US as perfect economic storm hits currency.

For those of you who resolved to get your finances in order in 2016, we have provided an article: Your 2016 Financial To-Do List: Month by Month. This is a comprehensive list of tasks broken down by month that will help you budget, pay down debt, invest properly, and more in 2016.

A Blueprint for your Next Negotiation provides tips on resolving payment disputes with customers. As we all know, payment disputes that are not dealt with only get worse with time. Use these tips to come to an amicable resolution with your customer to ensure a continued positive relationship.

18 Warning Signs to Share with Sales outlines some possible warning signs that a customer's business is in trouble. Since sales people are on the front lines, it's up to them to watch for warning signs and communicate them to the rest of the team.

Maude Johnson sends in Six Tips for Making Collection Calls that Get Results. This article details specific steps you can take to have successful collection calls, most importantly being prepared! Review the customer's account prior to the call and be prepared to answer any questions they may have. Also, be sure to send over any missing invoices and discuss short payments. Remember to be professional and speak authoritatively; having confidence will go a long way.

-Megan, Jeff and Toni

Loonie tanks below 72 cents US as perfect economic storm hits currency

TORONTO ? The Canadian dollar plunged below 72 cents US this morning for the first time since May 2004, extending a series of 11-year lows set in recent weeks.

At mid-morning, the loonie was trading at 71.83 cents US, down nearly three-quarters of a U.S. cent from Wednesday's close.

Canada's currency has been affected by a number of factors, many related to the strength of the American dollar as well as weak global market conditions for key exports such as oil, gas and other commodities.

The Federal Reserve's decision to finally raise key U.S. interest rates on Wednesday, after months of signals that an increase was coming, helped push up the American dollar against the British pound, Japanese yen, Australian dollar and the euro.

"The Canadian dollar has most closely tracked oil prices over the last few weeks," Rahim Madhavji, currency strategist at Knightsbridge Foreign Exchange, said. "A greater buildup of inventory will only serve to weigh on [oil], and resultantly, the Canadian dollar."

On the commodity markets, the January crude contract was down 67 cents at US$34.85 per barrel and the January contract for natural gas was up four cents at US$1.83.

Your 2016 Financial To-Do List: Month by Month

Morningstar on Yahoo

January 4, 2016

As the new year dawns, many investors start out with the best of intentions. They plan to scrupulously document their spending, stick to a budget, pay down debt, and kick up their investment contributions. They aim to overhaul their portfolios so they're in line with their asset-allocation targets and to ensure that all of their holdings are best of breed. And don't forget getting organized and creating a will?two tasks that perennially appear on many folks' to-do lists.

Trouble is, that's too much radical change?and too much work?to tackle in a short period of time. Individual investors stand a better chance of getting their financial houses in order if they tackle their to- dos in manageable pieces rather than letting themselves get overwhelmed by all they have to do.

To help in that effort, I've created a month-by-month framework of financial-planning to-dos, covering everything from your portfolio to taxes to getting organized.

January

See how you're doing: Are you on track to hit your financial goals? If you're still in accumulation mode, review how much of your salary you managed to save and invest last year; 15% is a reasonable minimum target. If you're retired, review last year's spending rate to make sure it passes the sniff test of sustainability. T. Rowe Price's Retirement Income Calculator is a solid option for assessing whether your current strategy is on track?whether you're still saving or already retired.

Find your best return on investment: The most successful investors consider their total opportunity set? including not just investment opportunities but debt paydown as well. Are you deploying your money into those opportunities that promise the highest return on your investment? If you have high-interest- rate credit card debt, the answer is easy; you'd be hard-pressed to outearn that interest rate by investing in the market. For investors with lower-rate mortgages and tax-sheltered investment options such as 401(k)s to contribute to, it's sensible to deploy money into both.

Bump up contribution rates to accommodate new limits: Company retirement plan contribution limits are the same in 2016 as they were last year: $18,000 for investors under age 50 and $24,000 for those 50-plus. If you're in a position to max out your contribution to these accounts, you'll need to bump up your contribution rate. (If you have a high income and earn a bonus, just be sure not to run into the high-class problem of contributing too much too early to earn full matching contributions, as discussed here.) While you're at it, consider putting your other investment contributions?to your IRA or taxable account?on autopilot via automatic withdrawals from your checking or savings accounts.

Important dates: Jan. 15, 2016, is your deadline for paying your quarterly estimated taxes.

February

Gather documentation on deductible items: If you're planning to deduct items such as charitable contributions, medical expenses, or mortgage interest, make sure you have supporting documentation. Tax-preparation software programs provide useful prompts to ensure you don't miss out on valuable deductions. Investment-advisory fees, tax-preparation help, and investment-related subscriptions such as a Premium Membership at are deductible expenses, though mutual fund expense ratios are not, as discussed here.

Take a good look at 1099s and W-2s: Rather than dutifully copying this information into your tax return, take a moment to gather some intelligence from these numbers. Your 1099 and W-2s provide valuable information about your earnings and investing habits. If your salary has increased, have you also increased your savings rate, including your 401(k) contribution? If you have piddling levels of income from a number of savings-type accounts, can you wring a higher level of income from an online savings account? If your mutual funds made sizable capital gains distributions, would you be better off holding tax-friendly index funds or ETFs in your taxable account?

March

Contribute to an IRA for 2015: April 18 is your deadline for filing your tax return, and it's also your deadline for funding an IRA for the previous tax year. If you haven't yet made your contribution, it's time to get on the stick. Contribution limits are $5,500 for those under 50 and $6,500 for people over 50; this article details the 2015 income thresholds governing traditional (deductible) and Roth IRAs. (And I will discuss the income limits for 2016 in an article later this week.) Bear in mind that the backdoor Roth IRA maneuver is alive and well for investors who earn too much to contribute to a Roth outright (you simply contribute to a traditional IRA, then convert to a Roth shortly thereafter), but beware of conversions if you have a lot of traditional IRA assets, for reasons discussed here.

Fund your health-savings account for 2015: You also have until April 18 to make a contribution to a health-savings account if you want your contribution to count for the 2015 tax year. For 2015, single individuals can contribute $3,350 to an HSA, whereas those with family coverage can contribute $6,650. People over age 50 can contribute an additional $1,000. An HSA, used in conjunction with a high- deductible healthcare plan, can make an excellent ancillary savings vehicle for investors who are maxing out their contributions to their traditional 401(k)s. Contributions are pretax (or deductible if you contribute to an HSA on your own) and compound tax-free, and qualified withdrawals are tax-free.

April

Know what to save and what to shred: Many people scrupulously file everything they receive from their financial providers and, in the end, save way more than they need to. If your file drawer is bulging with old statements, prospectuses, and utility bills from 2003, it's time to do some culling. Before you start shredding old financial statements and trade confirmations, make sure that you have documentation

regarding your cost basis?or that your financial provider does. This document details what you can safely get rid of, as well as the documents that you should keep?either in hard copy or electronic form. It also details the documents that are best filed in a safety-deposit box, fireproof box, or password- protected document.

Go paperless: Your financial providers have probably been badgering you for years about switching over to electronic delivery of your statements. It's time to take them up on it. After all, each piece of financial documentation that passes through the mail puts you at greater risk of financial fraud. Before going paperless, make sure that your computer security is up to snuff.

Create a master directory: Every household needs a basic document outlining financial accounts, along with the provider name, account number, URL, and the names of any individuals they work with. You can create a simple spreadsheet, or use this template. Whatever you do, password-protect your document (or keep it under lock and key) and alert a trusted loved one of its existence.

Important date: April 18, 2016, is your tax-filing deadline. It's also your deadline to file an extension if you need more time. Individuals will also need to make their quarterly estimated tax payments by this date. Finally, April 18 is your deadline to make an IRA or health-savings account contribution for the 2015 tax year. (See above.)

May

Assess your emergency fund: Unexpected expenses can crop up no matter your life stage, making it essential to hold liquid reserves?apart from your long-term retirement assets?to defray them. For most households, holding three to six months' worth of living expenses in true cash instruments is a good starting point, though investors who earn high salaries or have volatile earnings streams will want to hold more. An online savings account will tend to offer the highest yield of any risk-free investment type.

Investors who are building an emergency fund might also consider doing so using one of the new myRA accounts, though they should be aware that contributing to myRA will affect any IRA contributions they'd like to make. (The combined contribution limit for an IRA and myRA is $5,500, and $6,500 for those who are 50-plus.)

Assess liquid assets if retired: Retired people will want to hold even more cash, in case one of their income sources is disrupted for some reason. Knowing that their near-term income needs are covered can also help retirees ride out volatile times with their long-term portfolios. This article details the bucket system for managing a retirement portfolio; the system employs dedicated cash reserves.

June

Create or review your investment policy statement: Running your portfolio without an investment policy statement is a little like trying to build a house without any blueprints. Your IPS needn't be complicated, but it should convey the basics of what you're trying to achieve: your financial goals and expected duration/completion, your asset-allocation policy, your criteria for selecting investments, and the

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