Kimora Lee Simmons and Djimon Hounsou aren t as committed to each other as they used to be. A source close to the couple tells us the glamazon and her Gladiator beau have split after a big fight over money.
Djimon walked out on Kimora, says the source, who adds that the split may have been prompted by Simmons ex-husband, hip-hop mogul Russell Simmons decision to stop funding the pair s lifestyle.
Also Bethenny Frankel and Jason Hoppy are fighting over m-m-m-money, as most divorces are in Hollywood.
Pamela Anderson, the iconic sex symbol who etched herself into the American psyche by donning the famous red "Baywatch" swimsuit, is slightly underwater when it comes to her finances.
The former Baywatch actress owes $259,395.75 for unpaid taxes to the IRS in 2011 as well as $112,118.90 for California state taxes, according to TMZ.
She said she has money troubles and is revealing she is paying off her massive tax bill in monthly installments.
Also she is selling her mansion in Malibu. She said part of her financial problems is due to the massive renovation she did in her house in Malibu she is selling now.
And despite being a household name, Anderson is now doing what any other American in her situation must do: downsize!
Besides that, its time for her to figure out her budget and live according to it. It is time to wake up and see she still can live a good life without going overboard.
And last...Seriously, when you're famous, isn't there this little light bulb that goes off in your head when the cash starts rolling in that makes you say, "Gee, I should probably hire an accountant to keep tabs on my spending and a financial advisor to teach me how to plan for my future before I wake up one day and realize every last dime is gone and I am dead broke."
Do you need a financial plan? Review your retirement? Get your financial life in order?
While a good 401(k) plan can have a positive impact on a business and its individual employees, there are also some significant landmines to watch out for when evaluating and choosing a provider.
Many providers offer their own funds or insurance annuity products within the 401(k) products they sell. This makes it difficult for them to take an unbiased approach in providing the best investment options for their customers.
Using an independent investment advisor that can take an objective look at all the offerings on the market and select top funds by asset category may offer some solid upside compared to a biased fund line-up.
When choosing a financial advisor look for a fiduciary. In short, this means the planner has pledged to act in a client�s best interests at all times. Investment professionals who aren�t fiduciaries are often held to a lesser standard, the so-called sustainability standard. That means that anything they sell you merely has to be suitable for you, not necessarily ideal or in your best interest. This point is critical, and should be a deal breaker if a prospective planner is not a fiduciary.
As an employer and sponsor of a 401(k) plan, your company has a fiduciary duty to its participants. This means you must select the appropriate service provider(s) at a reasonable cost, determine the optimal plan design provisions, choose and monitor investments, keep up with the new legislative changes, ensure your plan is administered properly, and educate and inform plan participants.
The goal is to administer a retirement plan that inspires employees to reach their retirement dreams, while helping you recruit and retain valuable team members.
How do you know if your company is meeting these challenges?
How do you select service providers or investments � what are the criteria? How do you know if your plan is working? Does your company have the resources to handle these responsibilities alone?
How do you know that you are in compliance with the new fee disclosure rules?
Unless your company has dedicated employees with 401(k) expertise who focus solely on managing your employee retirement plan, you should consider hiring a fiduciary retirement plan advisor who specializes in 401(k) plans and is dedicated to helping you and your employees get the most out of their retirement plan.
Mintco Financial Independent Advisors is a Registered Investment Advisory Firm which means we work exclusively for you � not any company selling investment products. We are fully independent in making our recommendations to you and your employees. We accept full fiduciary status under ERISA Section 3(38) as advisor to your plan.
Call us now at 813-964-7100 to review your employees 401k or visit our website at www.MintcoFinancial.com
Michael Minter, one of the managing partners of Mintco Financial and author of I-Plan, has been givinng advice through seminars and on TV. He will be glad to help your business benefits plan.
Most important steps to securing your retirement income:
1.Spread your investment dollars among as many non-correlated income-producing assets as possible (global bonds, dividend paying stocks, private REITs, MLPs, and secured floating income investments to name just a few).
2.Guarantee your income. Just like the foundation in your home is there to protect you during a storm, the foundation of your income plan should be guaranteed in case the perfect economic storm hits. For better or worse, the only account that can guarantee you a lifetime income is an annuity. Annuity options are plentiful�many aren�t that great�so carefully compare fees, risks, and potential performance.
3.Set reasonable goals. Generating a 5-6 percent cash flow (adjusted for inflation) with a responsible level of risk is reasonable. Could you generate more? Sure, with more risk, but is it really prudent to accept a greater risk of running out of money? There are no do-overs in life and in retirement this is one area of planning that you must get right!
Speak to an independent financial advisor to review the best annuity for you.
Mintco Financial Team of Independent Advisors can help you to build your own pension.
Mintco Financial Advisors are fiduciaries and will work ONLY for the benefit of their clients.
A source close to the couple tells us the glamazon and her Gladiator beau have split after a big fight over money.
