Pro tip 3 salary negotiation mistakes people make

Pro tip 3 salary negotiation mistakes people makePro tip 3 salary negotiation mistakes people makeNegotiation is like the ugly stepsister of networking - its something we need to know how to do, yet its not something we are ever taught in school.But unlike networking, making a big no-no during a salary negotiation wont just cost you a relationship, it may result in thousands of dollars being left on the table.Follow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and moraSo what exactly do you need to know when it comes to making the big ask? Here are the top three things to avoid doing in your next negotiation.1) Getting defensiveLets say you have taken on mora responsibilities and put in way more overtime than your peers this past year. However, during your performance review, your boss informs you that you will only be getting the standard 3 percent raise due to budget constraints.In the heat of the momen t, your heart rate will naturally jump through the roof in frustration.What to do insteadInstead of snapping back with how unfair this is, take a nice deep breath and allow for silence. Slowing the conversation down rather than jumping into a response will create space for you to be thoughtful in your answer rather than reactive.2) Giving in too quicklyNow that youve given yourself a moment to breathe, you can start to prepare your response.While its natural to worry what will happen if you ask for more, dont let fear of rejection keep you from getting what you deserve.Im here to tell you that negotiation is a normal and expected part of working. While your boss may secretly be hoping you dont push back, they wont become offended when you do (and if they do, it may be an important red flag to take note of).What to do insteadInstead of quickly giving in, restate your value and get their buy-in. For example, I understand that constraints in the budget must be difficult. However, the a mount of hours and effort I have been putting in for the company goes well beyond the standard expectations and performance, wouldnt you say?3) Not anchoring high enoughLastly, when discussing pay, its natural to worry that if you go too high you will either offend the other party, lose the position, or come across as greedy.However, you shouldnt lower your expectations in order to come across as more agreeable. By starting with a safer sounding number you are doing the work for them, and negotiating against yourself before the conversation has even begun.What to do insteadFocus on the facts and then aim high.Do your research and get clear on a salary range that is both fair and reasonable. Next, instead of lowering your standards in order to come across as more agreeable, start at the top of the range.For the example above, if a 3-8 percent raise is reasonable, dont lower your expectations to a safer sounding 5 percent. Instead, anchor high and say, I was really hoping that given t he results Ive produced in the past year, that I would get at least an 8 percent increase. Do you think thats something we could work toward?Interestingly enough, by anchoring higher, you actually give your boss the psychological feeling that they just got a deal. Let them feel the sweet pleasure of a deal, while you allow yourself the sweet reward of a higher paycheckNegotiating doesnt have to be scary or hard. No one will advocate for you in the same way you can advocate for yourself. You are in control of your financial well-being, and you know the value that you create. Now, share it with the world And most importantly, share it with your boss when you ask for that next raise. This awkward and uncomfortable situation will only last a few minutes, and it may result in thousands more dollars in your bank account.Kathlyn Hart is a financial empowerment coach and a motivational speaker who supports ambitious women earn more. Her salary negotiation boot camp Be Brave Get Paid, which teaches women how to confidently own their worth and ask for more, has helped women increase their income by an average of $15,000. In addition, she is the host of The Kathlyn Hart Show, where she interviews entrepreneurial women about their journey from dreaming to doing.This article first appeared on Create + Cultivate.You might also enjoyNew neuroscience reveals 4 rituals that will make you happyStrangers know your social class in the first seven words you say, study finds10 lessons from Benjamin Franklins daily schedule that will double your productivityThe worst mistakes you can make in an interview, according to 12 CEOs10 habits of mentally strong people

3 Ways to Rediscover Your Passion for Sales

3 Ways to Rediscover Your Passion for Sales 3 Ways to Rediscover Your Passion for Sales A schlussverkaufperson who has lost their passion is like a writer who has lost their pen. In both cases, someone lacks the tool they need most, making ithad to stay motivated and accomplish goals.Passion matters in sales. Passionate sales people believe in their products and strive to help customers reach their goals. Unfortunately, many aspects of a sales career can quickly turn passion into turmoil. Your workplace environment, management team, changing personal priorities, and even a new job search can easily drain you dry.The loss of passion doesnt just impact you inwardly. It creeps into your ability to move product and effectivelyadvance in your career.When a once-motivated sales pro feels stagnant, the workday - and the job search - can become painstakingly difficult.Dont worry. Your passion for sales isnt necessarily gone for good. When your passion tank starts to dip toward empty, use these tips to fill it back up 1. Ignite Your Entrepreneurial SpiritEntrepreneurs are arguably more connected to their work than anyone else. Theyre self-motivated, enthusiastic, and directly connected to their customers.As a sales pro, youre already a bit of an entrepreneur. Youdirect your own schedule, work withyour customers, and are motivated by tangible, immediate outcomes.During a stressful period, such as a job search, its easy to lose that entrepreneurial spark. Give yourself the power of an entrepreneur by adopting a new perspective on each challenge you face. Find creative ways to solve issues, and get your employer on board with practical solutions.If being in the office is dragging you down, ask for a few days to work from home or go on the road. Alternatively, you can re-inspire yourself by taking some long-overdue personal time and jetting off on an exciting vacation.No matter what you choose to do to reenergize, find something that maximizes your productivity and, abo ve all, reminds you why you started a career in sales in the first place. 2.Find the Right AppThe sales industry can feel lonely, especially when youre on the hunt for a new job. The competitive nature of the field, combined with the complexities of noncompete clauses, can make it a challenge to rely on friends for hilfestellung or references. You may even need to keep your most trusted mentors in the dark as you try to find a new job without rocking the boat.Take advantage of the technological world were living in and turn to an app instead. No matter what youre up against,theres an app for that. Some of our favorites includeForestAvailable on iOS and Android, the Forest app usesinspiring visuals to keep you focused. You can plant a virtual seed and watch your tree grow.If you get sidetracked and exit the app, your tree will whither away.If you want to keep your tree growing, youll need to put your phone down and work on something else instead - like that job search.Wonderful DayA lso available on both iOS and Android, Wonderful Day is all about helping you create the best habits for your life. Simply make a list of all the habits you want to keep and dont allow yourself to break the virtual chain.Gratitude Negativity is infectious, and stress only makes it worse. Luckily, positivity and gratitude are just as spreadable. Gratitude, available foriOS,helps you rewire your brainin only five minutes each day by listing everything for which youre grateful. 3. Prioritize Your ValuesIf youre like our MedReps members, work/life balance and a strong product line are non-negotiable when it comes tofinding the right employer, as our 2018 Best Places to Work reportfound.If these things arent as important to you,thatsokay. The key is to get your own priorities straight, whatever they may be. Itll be impossible to rediscover your sales passion unless you know what youre looking for in your career.Develop a chart to list your product passions, non-negotiables for employers, needs in your current job, and personal needs. By adjusting your daily to-do listso that it better aligns with your chart, youll become more motivated to reach out to current customers and find direction in your job search.Karyn Mullins is presidentofMedReps.com.Connect with Karyn onFacebook,Twitter, andLinkedIn.

Employee Mileage Reimbursement

Employee Mileage ReimbursementEmployee Mileage ReimbursementEmployee reimbursement for using your own automobile will vary somewhat by employer and sector, but most organizations compensate employees at approximately thevoreingestellt Mileage Rateset by the IRSor thePrivately Owned Vehicle Reimbursement Rate.The rate isset each yearby the General Services Administration (GSA) based on research conducted by an independent consulting firm regarding current costs for utilizing a vehicle. For 2019, theStandard Mileage Rateis rate is set at 58 centsper mile traveled, up from 54.5 cents for 2018. This fixed, standard rate incorporates the cost of insurance, registration, gas, oil, and maintenance. For someone whodrives a lot for work, this can result in a significant deduction. Company Mileage Reimbursement Rates Most employers will reimburse at the IRS or GSA rate since they can deduct up to that amount as an expense when they file their corporate income tax return, though there are o ther complex tax formulas that employers can use. When qualified workers are difficult to find during economic expansions, employers are more likely to provide competitive rates of reimbursement. The Internal Revenue Service requires reimbursement payments to be made separately from salary, with no taxes withheld. Some employers will, therefore, process expense payments through the accounts payable system to keep them separate from payroll and to maintain compliance with IRS laws. If your employer is reimbursing at or near the GSA or IRS rate, then you can feel assured that you are getting a fair deal. Government Employee Reimbursement Government employees will always be reimbursed at exactly the GSA rate if the use of a privately owned car is authorized or when no government vehicle is available. Automobile Expense Reimbursement Requirements Youll need to provide amileage log, gas receipts, and documentation of any other allowable expense receipt related to your car. Withou t detailed records, your expense report may get rejected. Or worse, your employer could potentially take disciplinary action if he thinks your claim might be fraudulent. Many employers require contemporaneous record keeping, just like the IRS. Dont attempt to estimate your mileage as that might violate your employers policies. Keeping pen and paper in your car is one method, albeit a tedious one a better choice is a mileage tracking app that automatically tracks your trips in a contemporaneous log that you can print or download. Its an efficient way to keep track of mileage, start and end-points and the business purpose for the drive to include with yourexpense report. Other Ways Employers Compensate Employees for Automobile Expenses According to the Society for Human Resource Management, these are common alternatives to mileage reimbursement as ways for employers to compensate employees for business-driving expenses are Flat car allowance.Employers provide employees a flat car allowance, such as $400 per month, to cover the cost of fuel, wear and tear, tires, and more. FAVR programs.Employers reimburse employees under afixed and variable rate (FAVR) reimbursement program, in which employees are reimbursed for fixed costs (such as insurance, taxes, and registration fees) and variable vehicle expenses (such as fuel and maintenance). The reimbursements are tax-free to employees if certain expense-accounting requirements are met. Tax Consequences for Mileage Reimbursements Mileagereimbursements are considered tax-free disbursements by employers as long as they are documented and dont exceed your actual expenses. However, your employer canelend directly pay for operating costs like repairs or maintenance for your car without tax consequences. Other expenses like tolls directly related to business transportation can be reimbursed without taxation provided you have receipts. Some employers provide a monthly allowance for automobile expenses. If employees are required to furnish records of expenses, they will be taxed only for any amount received in excess of recorded expenses. If employers dont require documentation, then the allowance may be subject to taxation. Unreimbursed Automobile Expenses Starting in the tax year of 2018, with the implementation of the Tax Cuts and Jobs Act, workers will no longer be able to deduct unreimbursed automobile expenses.In 2017 and earlier years these expenses were deductible to the extent that they were in excess of 2% of adjusted gross income. So, workers who will drive extensively as part of carrying out their job responsibilities should carefully evaluate company reimbursement policies as they review job offers. If an employer does not typically reimburse car expenses, then you might offer to reduce salary in exchange for reimbursement since the reimbursement will be sheltered from taxation if expenses are documented appropriately. Alternatively, you might negotiate a higher salary to account for the added tax burden under the new tax law. According to the IRS, despite the suspension of miscellaneous itemized deductions, deductions for expenses that are deductible in determining adjusted gross income are not suspended. For example, members of a reserve component of the Armed Forces of the United States (Armed Forces), state or local government officials paid on a fee basis, and certain performing artists are entitled to deduct unreimbursed employee travel expenses as an adjustment to total income on line 24 of Schedule 1 of Form 1040 - 3 - (2018), not as an itemized deduction on Schedule A of Form 1040 (2018), and therefore may continue to use the business standard mileage rate. The information contained in this article is not tax or legal advice and is not a substitute for such advice. State and federal laws change frequently, and the information in this article may not reflect your own states laws or the most recent changes to the law.

1 characteristic separates the hopeful from the heartbroken

1 characteristic separates the hopeful from the heartbroken1 characteristic separates the hopeful from the heartbrokenLet me tell you about these two mysterious characters standing next to me with our backs to the Thames river.It started May of 2016 - I received a weird tweet from some random English guy. He wanted to work on a book together.I ignore the message.Lets work on a book together typically means thisI have no experience, no expertise, and no following, but Id like you to offer me the platform you worked so hard to build.3 weeks later, the guy followed up. HE FOLLOWED UP. I agreed to a call. The guys name is is Ash Ali (in the middle of the pic). Right after his wife gave birth to his first daughter, Ash quit his job to join a startup with no profit, just potential. Later, that company went public for 1.5 1000000000000 pounds (yes, billion). Weve been working together ever since.In a world of infinite distraction, Ash worked hard to get my attention.Now, he and I are turni ng a vision of his into a reality.Hustle is a good thing, but thats not where this post is going.- - - Far left in the picture is Hasan Kubba. Hasan is a search engine optimization expert, entrepreneur, and investor. A few years into his successful career as a digital marketer, Has saw a poster which caught his eyeDigital Marketing Network Night - Learn new trends. Meet new friends.That night, he met Ash. The two of them connected that night - instant kindred spirits. Neither of them had attended a networking event before. I also dont think they have been to one since.Now, they are building a training company together counseling young entrepreneurs.Serendipity is a good thing, but thats also not where this post is going.Its not going to either of those places because I havent talked much about the third guy in this picture - me.Me, who wanted to publish a book so badly at age 19.Me, who finished writing assignments for my cousins and girlfriend.Me, who spent hours for one sente nce to put in a story which paid me $7.50.Me, who wrote 3 fiction novels to people who will never read them.Me, who became a technical writer because it sounded fun (it wasnt).Me, who finally realized thisAnything worth having or becoming takes patience.Ash and I worked for his book for the better part of a year. Then we found Has. Then we worked ANOTHER YEAR. Then we found people interest in the book. Then we met in person for the first time.In my experience, you dont rich quickly. You dont get fame quickly. You dont get deep relationships quickly. Instead, you follow the processWork - Improve - Wait.And then two years later, you may find yourself in a country youve never been to, arm in arm with people youve just met, chatting like old friends.Keep going. Keep believing. Keep dreaming.Much love as always ?- Todd BThisarticlefirst appeared on Medium.

The Hidden Facts About Resume for Part Time Job Exposed by an Expert

The Hidden Facts About Resume for Part Time Job Exposed by an Expert Increase the time you spend to 20 hours weekly during breaks and following graduation. As soon as you have a resume its time to look for work Now its time to create your first resume. If youre studying and working at the very same time, it may seem youve no free time in any respect. At precisely the same time, the skilled qualifications you could acquire over time will provide you with a fantastic head start in developing your career. Think about each and every position youve had and write down the particular skills you acquired that can help you in the new job. If you believe you can just take one particular study course at one time together with your workload, then concentrate on such a program. Ensure the skills are related to the job which you desire. Undoubtedly you have heard that networking is just one of the best approaches to land work. When you get a positive networking meeting with somebody, atte mpt to arrange a work shadow day for a follow-up. If you are looking for a kind of job that may be discovered in many unique industries, look at noting a particular industry in your job objective. Have a look at the demands in your regional community and find out how you have the ability to use your skills to bridge that gap. As a teenager, searching for your initial part-time job can look like a complicated job. Even in case youve never held an official job, its still true that you have life experience thats applicable to the work search. Even in case you would settle for just about any job, you should be specific once you write your objective. You could possibly be surprised that landing a part-time job may be difficult as a complete time job. You might have fixed your LinkedIn profile to get ready for your upcoming job, and thats excellent. Then fill in the URL of the website you would like to link. During the time youre spending time updating your resume, its also wise to take a couple of minutes to make sure that your LinkedIn profile is powerful and accurate. Employers search for candidates who have the capacity to follow up with customers since it shows a willingness to become involved and be responsible. Resumes can be a couple of pages. The One Thing to Do for Resume for Part Time Job Looking at examples can allow you to make a decision as to what sort of content you should include, in addition to how to format your resume. Make sure that you get the info youre looking for. Its possible to receive a list of places seeking people from a range of sources. A site with huge assortment of best sample resumes which youll be able to use while putting in an application for work. Without the fruchtwein suitable folks to back up your skills, you could just lose out on the most suitable role for you. Some folks also discover that they want to carry on working in order to remain active. Few people are able to claim the capacity to overcome and per sist through 20 or even 30 years with the exact firm. You are able to display your work history, but in addition fill in more space by talking about your abilities and other knowledge youve got.

The Definitive Solution for Military Resume Writing Skill List Pdf You Can Learn About Today

The Definitive Solution for Military Resume Writing Skill List portable document format You Can Learn About Today The New Fuss About Military Resume Writing Skill List Pdf Your Military Resume Writer will check with you throughout the resume preparation procedure to make sure your most relevant abilities and qualifications arrive at the forefront. Writing and editing is a rather extensive category. Research Skills As an expert writer, you might be called on to write on topics you dont know a lot about. Writing and editing need a lot of interrelated abilities, and its difficult to understand what to include. Our customers decide what should or shouldnt be included in the last document. Writing a simple resume is an obligation for every single man or woman who would like to get the wanted job. You might need several resumes if youre applying for several jobs. The Benefits of Military Resume Writing Skill List Pdf When writing your professional military resume, our aim is t o elevate your personal price and make certain you are very competitive. Should you need ideas about how to format a suitable military resume, the templates mentioned previously would be very helpful for you. Without regard to the style or format you choose to choose, dont neglect to adhere to each of the basic resume writing best practices, like using tons of action verbs and focusing on what you can do to help the organization and not what the corporation can do for you. Soft skills are very valuable to employers and are a few of the most wanted qualities interviewers search for in potential hires. They are the skills that apply to every job. Military soft skills will work as an extra bonus to the particular experience you will be in a position to list on your resume. More technical or computer-centric hard skills are occasionally also known as technical skills. Understand what you really require. When it has to do with a well-written resume, its not just important to tar get the info you wish to include, but also to select a resume style which best highlights your strengths. U.S. military officers must perform a number of duties to fulfill their missions. Even though there are plenty of kinds of resumes, all of them contain the exact essential elements. Military Resume Writing Skill List Pdf - Is it a Scam? It is simple to impress a possible employer with a high-quality resume, even if you just make the very first step in the civil jobs sphere. Even within your intended industry, youre want to align your resume with the necessities of a particular job. When creating your military resume youll be concentrating on the ways your military experience can be readily transferred to a civilian job and possible employers will quickly find the value that youre ready to provide their company. If you are just about to submit an application for a civilian job following your military career, your job objective should perfectly align with the particular ci vilian job and designation youre applying for.

Power of Attorney FAQ - Australia-NSW

Power of Attorney FAQ - Australia-NSWPower of Attorney FAQ - Australia-NSWGeneral InformationWhat is a Power of Attorney?A Power of Attorney is a document in which one rolle (the Donor) appoints another partie (the Attorney) to act for him or her. There are many reasons why you might want to appoint someone else to look after your financial affairs. For example, if you are going to be out of the country for a lengthy period of time, you might want someone to do your banking while you are gone. If you are approaching old age, you may want to give a Power of Attorney to a partie you trust so that he or she can manage your property for you.What are the differences between enduring and ordinary Powers of Attorney?There are two major types of Powers of Attorney ordinary and enduring.An ordinary Power of Attorney is only valid as long as the Donor is capable of acting for him or herself. If the Donor dies or becomes mentally incompetent, the Power of Attorney is invalidated.An Enduring Pow er of Attorney remains valid even if the Donor later becomes mentally incompetent. (Note the Donor must be competent at the time the Power of Attorney is made.)In either case, the Power of Attorney becomes invalid when the Donor dies. A Power of Attorney cannot be used to bequeath property upon the death of the Donor.What are the differences between general and specific Powers of Attorney?A general Power of Attorney is one that gives the Attorney the authority to do anything the Donor could do him or herself. A specific Power of Attorney is one that gives the Attorney authority to act for a particular purpose. (For example to buy or sell a particular piece of property.)Will a Power of Attorney still be valid after the Donor dies?NO. Generally Speaking, when a person dies, the Executor (also called a Personal Representative) appointed in the persons Last Will and Testament takes control of the deceased persons property and distributes it according to the instructions in the Will. If there is no Will (or if the Will is invalid), each jurisdiction has intestacy legislation that distributes the deceased persons property to his or her relatives according to a set of rules. A court generally appoints an Administrator to oversee this process. Unfortunately, the deceased persons wishes are not taken into account during the process (which can be very lengthy), since they have not been formally expressed in the proper manner.Will a Power of Attorney allow me to appoint someone to make welfare and medical decisions on my behalf?In most of Australia, powers of attorney do not give someone the right to make decisions about your welfare or medical treatment. Usually, a medical power of attorney or anticipatory directive is required to deal with non-financial matters. The exception to this rule is found in Australian Capital Territory and Queensland. In the Australian Capital Territory you can use your Enduring Power of Attorney to appoint someone to run your everyday affair s (other than property and money) and consent to medical treatment and medical donation while you are incapacitated. In Queensland you can use your Enduring Power of Attorney to appoint someone to make personal and health decisions when your capacity is impaired.The DonorWho is the Donor?The Donor is the person who needs someone else to act for him or her. The Donor must be an adult. The Donor must be capable of making his or her own decisions at the time the Power of Attorney is executed (signed).What is incapacity?A person is incapable of managing property if the person is unable to understand information relevant to making a decision about the management of property, or if the person cannot appreciate the foreseeable consequences of making (or not making) a decision about the management of property.The AttorneyWho is the Attorney?The person appointed by the Donor is called the Attorney. The Attorney is the person who acts for the Donor.Does the Attorney have to be a lawyer?No, th ere is no need for the Attorney to be a lawyer. (See below for Attorney qualifications.)What qualifications does an Attorney need to have?The Attorney must be a capable adult. The Attorney cannot be an undischarged bankrupt. The Attorney should not be the owner, operator or employee of a nursing home or extended care facility in which the Donor is a resident.What qualities should I look for in an Attorney?Your Attorney must be someone whom you trust completely. In addition, remember that your Attorney will have complete authority to deal with your financial and legal affairs (subject to any limitations or restrictions specified in your Power of Attorney). You should ensure that the person you choose has adequate financial management skills and sufficient time to handle your affairs properly. Your Attorney must be available when required, be able to objectively make decisions and be able to keep accurate financial records.What are the responsibilities of my Attorney?Your Attorney has the following responsibilities to act in your best interest to keep accurate records of dealings/transaction undertaken on your behalf to act for you with the utmost good faith and to avoid situations where there is a conflict of interest and to keep your property and money separate from their own.Is it okay to appoint a relative as Attorney?Yes, people often appoint relatives as Attorneys.Can my Attorney also be a beneficiary in my will?Yes.What are Joint or Joint Several Attorneys?Sometimes a Donor will want to appoint two Attorneys. In that case the Donor must decide whether the Attorneys will be joint Attorneys or joint and several Attorneys. Joint Attorneys must act together. They must both agree before any action can be taken, and they must both take the same action at the same time. If one is absent, no action can be taken. Joint and several Attorneys can act together or individually. Either one can take an action without consulting the other. If one is absent, the other ca n still act.Place and TimeWhat is Jurisdiction?A jurisdiction is a place that has its own laws. It is a territory with boundaries, such as a state or a province. For example, California is a jurisdiction in the United States, Ontario is a jurisdiction in Canada, Scotland is a jurisdiction in the United Kingdom and Queensland is a jurisdiction in Australia.What is the Governing Law?A Power of Attorney is governed by the law of the jurisdiction where the actions of the Attorney will be performed. Normally, this is the place in which the property of the Donor is located. Therefore, it is not a good idea to appoint an Attorney who resides in a different jurisdiction, unless the property or assets you want the Attorney to deal with are also in the different jurisdiction. If you anticipate that your Attorney will be acting in more than one jurisdiction, you should probably make separate Powers of Attorney for each jurisdiction.Examples If your bank accounts and other property are located in the jurisdiction where you live, you will want to appoint an Attorney who lives in the same jurisdiction. If you live in one jurisdiction but have a bank account or other property someplace else, and you want an Attorney to deal with that property, you will want to choose the place where the property is located as the governing law, and appoint an Attorney who is located in (or is willing to travel to) the same jurisdiction as the property.When does a Power of Attorney start?The Donor can specify the Power of Attorney to start either immediately when the Attorney accepts (or as each of the Attorneys accept) the Appointment on and from a specified date up to and including a later specified date when the Attorney considers that the Donor needs assistance managing his or her affairs or from an other time or fest as specified by the Donor.NOTE In New South Wales, an Enduring Power of Attorney does not confer authority until the Attorney accepts the appointment by signing the instrume nt creating the power.How/when does a Power of Attorney end?An ordinary Power of Attorney ends automatically when the Donor becomes mentally incapacitated or dies. An Enduring Power of Attorney ends automatically when the Donor dies. As long as you are mentally capable, you may revoke your Power of Attorney at any time by notifying your Attorney (in writing) that the Power is revoked and destroying the original Power of Attorney. Otherwise, a Power of Attorney continues in effect indefinitely, unless the document specifies an end date.Can I revoke my Power of Attorney after I have become incompetent?A person who is incompetent cannot revoke an Enduring Power of Attorney. However, an ordinary Power of Attorney is automatically revoked when the Donor is found to be incompetent.How do I revoke my Power of Attorney?You can revoke, or cancel, a Power of Attorney by giving your Attorney a written notice saying that his or her power has ended. Also, you may make a new Power of Attorney tha t states your previous Power of Attorney is now revoked (but you must still notify the previous Attorney of the revocation). Third parties (e.g., people or organisations that have been dealing with the Attorney) must also be notified. Additionally, if your Power of Attorney is registered you must also register the revocation.Please note that if you fail to inform your attorney of the revocation, your Attorney can legally continue to make decisions on your behalf.PowersShould I put restrictions on my Attorney?When you give a general Power of Attorney, you give your Attorney the authority to do anything you could do yourself, with a few exceptions - such as areas where you possess skills that your attorney doesnt (e.g. if you are a dentist, you cannot authorise your Attorney to practice dentistry on your behalf). But there may be some things you would prefer your Attorney did not do. For example, you may want to require that your Attorney get prior approval from you before signing che ques for large amounts on your account.Should my Attorney be allowed to personally benefit from managing my assets?If the person you are appointing as your Attorney is also a member of your family or a beneficiary in your will, you may want that person to be able to personally benefit from managing your assets, since you intend that person to become owner of the assets eventually. Generally, however, it is probably not a good idea to allow your Attorney to personally benefit from managing your assets as this creates a conflict of interest for your Attorney, who is legally obligated to act in your best interest, not his or her own best interest.What can the Attorney do?The Attorney may transact business respecting the Donors property in all areas specified by the Donor.Is the Attorney obligated to do anything?Generally speaking, the Attorney is not obligated to act for the Donor. However, in some circumstances the Attorney may agree, in writing, to accept an obligation to take action when necessary. When the Attorney acts on behalf of the Donor, the Attorney must act in the best interest of the Donor.Does my Attorney have the authority to act while I am still available and able to take care of my own finances?Generally speaking, a Power of Attorney is effective as soon as it is executed (signed and witnessed, etc.) whether or not the Donor is available or able to handle his or her own affairs. However, the document might specify that it will only be effective under certain conditions. For example, some Powers of Attorney specify that they will not come into effect unless and until the Donor has become mentally incompetent to handle his or her own finances. Note Some jurisdictions do not allow Powers of Attorney that commence upon the occurrence of a condition or event such as mental incapacity.If I authorise my Attorney to make gifts, who is allowed to receive gifts?Your Attorney will be allowed to give a gift only if the gift is to a relative or close friend o f the Donor and is of a seasonal nature or for a special event (e.g. birthday or wedding) or the gift is a donation of the nature that the Donor made when the Donor had capacity or the Donor might reasonably be expected to make.The gifts value must be reasonable having regard to the Donors financial circumstances and the size of the Donors estate.NOTE The term close friend refers to another individual who has a close personal relationship with the Donor and a personal interest in the Donors welfare. The term relative refers to a mother, father, wife, husband, daughter, son, step-daughter, step-son, half-sister, half-brother or grandchild of the Donor, or, if the Donor is a party to a domestic relationship within the meaning of the Property (Relationships) Act 1984 any person who is a relative (as listed above), of either party to the relationship.If I authorise my Attorney to use my money for my Attorneys own benefit (or for the benefit of a third party), what is my Attorney allowed to spend my money on?Your Attorney can spend your money only for the following types of expenses housing food education transportation and medical care and medicationThe amount of the benefit must be reasonable having regard to the Donors financial circumstances and the size of the Donors estate.Signing DetailsWhat does it mean to execute a document?When a person executes a document, he or she signs it with the proper formalities. For example If there is a legal requirement that the signature on the document be witnessed, the person executes the document by signing it in the presence of the required number of witnesses.How should I sign my Power of Attorney document?To be valid, you must sign the document with your usual cheque signing signature. You should also initial each page of the document. The signing and the initialing of the pages must occur in the presence of your notary or witness(es).After you have signed and initialed your document in front of your notary or witness(es ), your notary or witness(es) must sign on the applicable page of the Power of Attorney and should initial each page. This must occur in your presence.Can anybody act as a witness?Your witness(es) cannot be your spouse, partner, child, your Attorney or alternate Attorney, or the spouse of your Attorney or alternate Attorney. Some jurisdictions disallow witnesses that are mentioned in your will, either as beneficiary or executor/executrix. You should generally avoid having witnesses that have any financial relationship with you. The witness(es) must be of legal age in your jurisdiction, they must have capacity and be mentally capable of managing their property and making their own decisions.Who can Witness an Enduring Power of Attorney?Recent changes to the Power of Attorney legislation have resulted in new, more specific requirements for witnesses of an Enduring Power of Attorney. At the end of all Enduring Power of Attorney forms there is a prescribed witness certificate. This cert ificate can only be completed by solicitor or barrister Registrar of a NSW Local Court a licensed conveyancer who has completed an approved course under the Powers of Attorney Act or an employee of Public Trustee NSW or a Private Trustee company who has completed an approved course under the Powers of Attorney Act.The certificate states that the witness explained the effect of the Power of Attorney directly to the Donor before it was signed and was satisfied that the Donor appeared to understand the effect of the Power of Attorney.If the Witness has any doubts about the Donors ability to understand what is being signed, they are required to take reasonable steps to confirm the Donors mental capacity.Does it matter where the Power of Attorney document is signed and witnessed?If your document will be used in a different jurisdiction - but not in a foreign nation - there is no herausforderung with having the document signed and witnessed where you live, rather than where the document w ill be used. The witnessing requirements (number of witnesses required, whether or not notarisation is needed) should still be those of the place where the Power of Attorney will be used, however.Can I use my Power of Attorney in a different state/territory?Some territories and states have mutual recognition provisions in their Power of Attorney legislation which provide portability of powers within Australia. Before trying to use a power of attorney created in a different jurisdiction review the legislation of the jurisdiction where you wish to use the power of attorney to ensure that your Power of Attorney will be accepted.What if my Power of Attorney will be used in a foreign nation?If your document is intended to be used in a foreign nation, you may have to have it authenticated or legalised. This is a process whereby a government official (e.g., the Secretary of State, the Foreign Office, the Office of the Attorney General - depending on where you live) certifies that the signa ture of the authority (e.g., notary or solicitor) on your document is authentic and should be accepted in the foreign nation. For more information about document authentication and legalisation, contact the local consulate/embassy of the foreign country your document will be going to, or one of the following government web sitesUnited States https//travel.state.gov/content/travel/en/legal-considerations/judicial/authentication-of-documents/office-of-authentications.html/Australia dfat.gov.au/brisbane/index.htmlOther Considerations Do I have to pay my Attorney?Depending on the kind of relationship you have with the person who will be acting as your Attorney, you will have to consider whether they should be paid for their services. You can stipulate in your document that your Attorney will not receive any payment except the reimbursement of out-of-pocket expenses, or you can agree to pay your Attorney a specified amount. If you prefer, you can authorise your Attorney to pay him or her self a reasonable amount for acting for you. However, you do not need to pay your Attorney for the power to be effective. Generally, payment is only made when a trust company or other professional person/organisation is acting as your Attorney.Should I have my Attorney prepare financial statements?You can require your Attorney to prepare periodical financial statements and send them to your accountant, lawyer or some other person you choose. This is a good deal of work, however, and most people do not require it of unpaid Attorneys.Note Attorneys should keep records of their actions.What are co-owned assets?If your Attorney is a family member, you may be joint owners of property. It is important to state this in your document, so that third parties dealing with your Attorney understand that the Attorney is entitled to co-own assets with you. Otherwise, the co-owning of assets could give the impression of impropriety.Do I have to record or register my Power of Attorney with the Land Titles Office?Generally speaking, a Power of Attorney has to be registered with a land titles office/department if it could affect real property (land or other real estate). For example, if the Attorney is authorised to mortgage or sell the Donors real estate, or to purchase real estate on behalf of the Donor, the Power of Attorney will probably have to be registered at the appropriate office. Usually there is a fee for registration of the document. Additionally some jurisdictions provide stricter registration requirements. In Tasmania, all Powers of Attorney (whether general or enduring) must be registered with the Recorder of Titles. In Northern Territory, all Enduring Powers of Attorney must be lodged at he Registrar-Generals Office.Is any stamp duty payable on my Power of Attorney?There is no duty payable on powers of attorney under the Duties Act 1997 (NSW).

7 important things every 20-something should know about money

7 important things every 20-something should know about money7 important things every 20-something should know about moneyMy co-founder at Digital Press said something to me a while ago that fundamentally changed my perspective on money.He said, We havent personally experienced a recession yet.I welches only 18 years old when the markets crashed in 2008.I hadnt yet stepped into the real world. I didnt have a full-time job, or a working relationship with money. I didnt truly have context or a larger understanding of what a crash meant, and how it was impacting peoples lives.Looking back, of course, it makes sense why my parents were overly stressed during my senior year of high school. I can at least imagine what they must have been feeling. But I would be naive to think I truly know what that sort of burden feels like myself.At 28 years old, I try to remember that one day I will most likely experience a similar economic burden.When youre out of school, and you start working your firs t job, and even as you begin to make strides in your career, it can be very easy to think that whats currently happening will happen this way forever. As soon as you start making good money, you assume the good money will keep flowing.Older, wiser, mora experience people than me know this is far from the truth.As a result, I try very hard to remember that life ebbs and flows. Markets go up, and markets go down. Opportunity will boom, and opportunity will slow. And those who remain successful over the long term optimize for these waves of change.Here are 7 things I encourage all 20-somethings to keep at the forefront of their minds when it comes to personal finances1. Its leid about how much you make.Its about how much you save.My dad used to say this all growing up, but again, this is a lesson you have to feel and encounter in your own life to truly understand.I know plenty of people who make $250,000 per year, and save $5,000 per year. They live terrific lives, but they also put th emselves at an unnecessary amount of risk.Conversely, I know people who make $80,000 per year, and save $20,000 per year. They live modestly, but they set themselves up for success in the long run.I strongly encourage you to live like the latter. And as your income scales, so too should the amount you save.2. Never underestimate Cash On HandWhen I first started making a little bit of money, I put everything I had into stocks.I wanted to start seeing my savings compound on themselves.This was great in theory, right up until the moment I decided to leave my 95 job and become an entrepreneur. Suddenly, having money in stocks, although liquid, felt unnecessarily risky. If the markets tanked tomorrow, that would severely affect my safety net.Part of saving money means having a balance between cash you invest, and cash you keep on hand. A good rule of thumb a mentor of mine gave me was to always have at least 3 months of living expenses on hand. Personally, I prefer 612 months.3. Live by the 50/25/25 modelSince the moment I graduated college, Ive taxed all of my side-hustle income at the highest tax bracket.The reason I do this is two foldFirst, I wanted to begin cultivating the mentality that one day I would end up in the highest tax bracket.And second, I never wanted to end a year and realize I owed more money than I had set aside. I wanted to pay myself a bonus at the end of the year - not need to withdraw even more money to make up for my math error.In the same way I tax all of my side-hustle income at nearly 50% (meaning I put 50% of everything I make away in an account to pay taxes with at the end of the year), I also try to save at least 25% of the remaining 50%. So that means for every $100 I make, I put $50 away for taxes, $25 into savings, and leave $25 to use as income I can spend on living expenses, travel, restaurants, etc.The reason I love this model is because it keeps all my primary variables constant (taxes + savings), and if I ever want to spend m ore or upgrade my lifestyle, then I need to find ways to make more money overall - instead of taking money out of taxes or savings.4. Have a plan for the worse-case scenarioOne of the biggest reasons Im so adamant about saving money is to be able to navigate another recession.Every 20-something, regardless of how much you make (I was saving $20 per month back when I first graduated college and was making just about minimum wage), you should work to save and build a financial foundation. Its one of those things that seems impossible or even insignificant when you arent making very much, but you have to continuously remind yourself that small steps really do add up.$50 will turn into $100.$100 will become $500.$500 will become $2,000.And before you know it, youll have $5,000 in your savings account.The first few years of saving are always the hardest. But after about 3 years of cultivating the habit, and as soon as you see that first comma in your savings account, your entire mentali ty will change - and youll realize the value of saving over the long term.5. Work to create multiple streams of revenueEspecially in todays world (where Millennials struggle to find jobs - and the Internet is an easily accessible resource), its imperative that you build multiple streams of revenue for yourself.For example, here are mineI pay myself a salary out of my company, Digital Press.I published a book, Confessions of a Teenage Gamer, as well as a handful of smaller eBooks on my website.I am an advisor to a couple blockchain companies (paid as a consultant)I wrote for Inc Magazine for about 3 years (and was paid per pageview), and recently started publishing my work under Mediums paid program.Your goal should be to create 7 streams of revenue for yourself, so that if one declines, the others can keep the ship moving in the meantime (while you either repair what went wrong, or create a new stream of revenue for yourself).*Bonus my last tip here would be to take all streams of revenue except your primary (salary) and have them go directly into a savings/investment account. This will force you to continue living within your means, while working to increase the amount youre able to save or invest.6. Spend time around financially prudent peopleThis is a statement that should scale based on income level.Again, there are some millionaires who spend every penny they make. There are other millionaires who save or invest a large % of their income. You want to hang around the ones who live like the latter, and not the former.The biggest reason this is so important is because, especially in your early 20s, you wont have very much extra income to save or invest - which means, of what you do have, you want to put it to good use. And if you hang around people who blow their money, chances are, you will too.Instead, I encourage you to seek out people who are very responsible with money. For me, I sought out people I knew were successful and yet didnt live overly lavi sh lifestyles family friends, people in my network, etc. I wanted to know how they treated their money, so I could learn how to do the same.7. Dont ever bet it allIf you are ever faced with an opportunity for a financial upside that requires you to put it all on the line, do not accept it.When youre young, these kinds of decisions are fairly easy to recover from. Even if you were to bet it all and lose, you would still have years upon years to make it back. Youd be fine.But the reason I strong discourage this way of operating is because itis the beginning of an even worse habit that can linger over time. You dont want to get used to betting it all. You want to get in the habit of betting what youre willing to lose, without compromising your long-term financial position.This article was originally published on Medium.

The 3 Worst Reasons to Skip a Work Meeting - The Muse

The 3 Worst Reasons to Skip a Work Meeting - The MuseThe 3 Worst Reasons to Skip a Work Meeting On some weeks, you have a long to-do list, and on top of that, an even longer list of meetings youre required to attend. Those meetings arent going anywhere, but neither are the tasks youve committed to completing. So naturally, when you find an opportunity to skip one of the meetings, you should take it, right? In some cases, yes. For example, when youve been invited just in case. Or when you know its just a status update meeting and you dont need the updates. But there are some pretty bad reasons for backing out of a meeting, too. And by bad, I mean youre going to lose your teams respect, and possibly, even opportunities if you use one of unterstellung excuses.1. You Need to Grab FoodThere are few things on the face of the earth that motivate me as much as a meal. I get how real hunger pains are, especially in the middle of a long stretch of meetings. But as empathetic as I am to you whe n youre desperate for a snack break, its a terrible excuse to pump the brakes on an important meeting. And I know you know this- yet I also know that there are people who use this excuse when theyre backing out. InsteadPack one of your desk drawer with easy-to-grab snacks- preferably ones that wont be grating for everyone else to listen to as you eat them. 2. You Have an Urgent Errand to RunI have a handful of weddings to go to this summer, which means I have a handful of errands to run every week. And of course, all those errands, usually involve stores with very specific hours. While you hate to cancel so last-minute, you just dont know when youll pick up your suit from the tailor if not right now. InsteadDo a quick assessment of your day and put all your assignments in priority order. Is there something else besides this meeting that you can put off? Could you stay later in order to get everything done? What about coming in earlier?It might be inconvenient for you, but its better to stay an hour later, than anony or delay all your co-workers because you cant attend a meeting. 3. You Have Too Much Work to Get DoneThere are days when you feel like you simply have too much to do- and I get that. And on those days, attending meetings can feel like a waste of your time. But at the same time, skipping this meeting can create more work for the people involved in it- and thats not necessarily fair. InsteadAsk your manager for help deciding whats most important for you to do- the tasks on your to-do list or this meeting. If its truly impossible to get it all done and the meeting is more important, ask for a deadline extension on your other work.You might be thinking, This is great, but what if Im the exception to whats above? Alright, Ill work with you here. If you absolutely need to cancel, heres the email you need to send to attendees. Of course, customize based on what the meetings about and what your role is in it.HiI cant attend todays/tomorrows meeting. I know this is last minute and I apologize/I know this will delay our progress and I apologize.Note These are optional linesIs there any data/reports/insights I can send in advance to help move the conversation forward? If any decisions need my input, Ill answer them ASAP on email/Slack/text message. Could we get this conversation departureed on email- happy to lead the charge on that.Sorry again,Your Name Meetings get a bad reputation, and in a lot of cases, its warranted. Nobody likes to have their time wasted on something that could be easily resolved over email or quickly at your desk. But the fact that you dislike them isnt a good reason to start backing out at the last minute- especially if they fall into the important category. Instead, make a bigger effort to both remove meetings from your schedule that truly arent needed (this article can help with that) and organize your weekly schedule in a way that allows for lunch breaks and pockets of time to deal with personal issues.Gettin g organized isnt always easy- but its definitely worth it