Macho Money Definitions - What Is An IRA?

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Macho Money Definitions - What Is An IRA?

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vid_whatisira.jpgWhen talking investments, IRA is the abbreviation for “Individual Retirement Account,” not “Irish Republican Army.” According to About.com, IRAs are basically savings plans with lots of restrictions. The main advantage of an IRA is that you defer paying taxes on the earnings and growth of your savings until you actually withdraw the money. The main disadvantage is the tax law imposes stiff penalties if you withdraw the funds before you turn age 59.5 years old. There are different types of IRAs, each with their own tax implications and eligibility requirements. And here is a little fun fact, IRA's stem from the early 1970s when NBC broadcasted a television special called “The Broken Promise,” which showed Americans the consequences of poorly funded pension plans. In this short video, USAA Certified Financial Planner Scott Halliwell explains IRAs in further detail.


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The Importance of Protecting My Family More Than My Golf Balls

ChrisDanaGolf.jpg“Don't hit it right. Don't hit it right. Take a deep breath…relax…that's it…listen to the birds cheerfully chirping, sounds of a distant lawnmower, a breeze gently moving leaves around the treetops…nice, smooth swing. No need to kill this ball…just hit it off the tee. AND DON'T HIT IT RIGHT!”

As I stand on the 14th tee box at the L'auberge Casino Resort golf course, I look down at my dirty, dinged-up golf ball and realize I'm griping my old 3-wood way too tight. I had to take a step back, re-focus my brain. How did I get to this moment? Well, I guess I had USAA to thank since they're the ones who helped my wife and I get out of town for a much needed break. But how did I get here, here on the 14th tee box with only one ball left in my bag? Was it my braggadocios attitude on hole two where I thought it would be fun to tee off over the water? (lost one ball) How about the long, beautiful par four, fifth fairway where I pulled two balls into the creek. And then again on hole six, another two into that same damn creek! (Come on L'auberge, why are all the water hazards to the left of these fairways!?) The par four seventh? Yep, another ball in the water, again to the left. And then we had gorgeous hole number nine, a fairway so picturesque it belongs on the cover of Golf Digest, where I surprisingly didn't hit the ball left into the water, I hit them to my right…into the water. (2 balls)

image for New Army Study - Seeking Male Military Spouses

New Army Study - Seeking Male Military Spouses

ArmySpouseLogo.jpgI have focused the last 10 years of my career as a research psychologist on trying to better understand the needs, struggles, and success of military couples and families. I've worked with hundreds of couples, given numerous presentations, published several articles, received multiple research grants … yet it is quite clear to me that in some ways, I have failed in my efforts.

To give some background, I began my first academic position in 2005. Given all that was happening at that time, I wanted to give back in some way to service members and families who give so much of themselves in service of our country. As a civilian, I saw two main ways of being able to actively engage in this. One was to volunteer when I was able. The second way was to find a way to build this commitment to military families into my everyday life.
For me, the second approach – folding my efforts into the very fabric of my life – was the way to make a sustained commitment over time. That is when I set about trying to connect my everyday work as a clinical psychologist and researcher to helping this unbelievably deserving group of people. I took my expertise in research on couples and anxiety, and applied it to researching the experiences of military couples, with the goal of learning how best to help those couples when they struggle.



 

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