yourmoney | ezine
yourmoney | ezine
YOUR MONEY INSIG H T S
Talking Money: Talk show hosts earn millions in the U.S. Andre Burnett - Your Money Reporter
W
ho would ever have thought that talking the talk would ever be just as important as walking the walk? It seems that nowadays, no public action is worth undertaking if it cannot be discussed at length before and after on television talkshows. Talk shows and their hosts have evolved to become indispensable and wholly influential facets of our media today and they have the bank statements to prove it.
When television talk shows were developed during the last century, they were a direct result of the influence of thirty years of radio programming. Talk shows were seen to be topical, disposable media with the perceived longevity akin to newspapers. Unfortunately the real benefits to the makers of these shows may only be as lucrative in the US where reach and influence translates readily into monetary figures. However all across the world, especially in Jamaica, current affairs programming is penetrating and influencing the masses. The hope therefore is that the industries in the rest of the world will be able to achieve some of this success in the future.
Oprah Winfrey
#1 on the list, earning $275 million over the year”
A Forbes article published earlier this year showed that the Top Ten best paid talk show hosts in the United States earned a collective $568 million during the period of June 1, 2008 to June 1, 2009. Of course the “maker or breaker” herself Oprah Winfrey, head of Harpo productions took pole position with earnings of $275 million over the year. Oprah’s clout comes not only from her hugely viewed television show but also from her magazine, her production spinoffs and a newly inked $55 million deal with satellite radio provider XM. Second on the list coincidentally is Dr. Phil McGraw who got his start being a guest on Oprah, the top five is rounded out by late night darling David Letterman, Ellen Degeneres and new Prime Time star, Jay Leno.
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This type of earning potential seems to suggest that these individuals wield quite a bit of influence through the use of their medium and the reverence paid to them by public figures would serve to add credence to that suggestion. During the 2008 US Presidential Race, Candidate John McCain reneged on an appearance on the Late Show with David Letterman and was soon the victim of nightly comedic attacks until he made good on his rain check. Bill Clinton was known as the “Talk Show President” during his campaign and since then these shows and hence there multimillionaire hosts have become points where lifestyle, political power, entertainment and news find common ground.
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yourmoney | ezine
BUSINESS LO UN G E
Andrew Pairman no longer the sheriff of a small town Andre Burnett - Your Money Reporter
A
ndrew Pairman, CEO of the Anbell Group of Companies is no longer content with being the sheriff of a small town. He has saddled his trusty Anbell steed, notorious for its independence, and has made his intentions known that he would welcome help in his quest to conquer the badlands of big business. Dramatic western metaphors aside, Andrew Pairman has undergone a departure of sorts from his modus operandi which has seen his Anbell brand thrive in the Jamaican business place but has in turn created a ceiling inhibiting the eventual growth of his idea. The Kingston born entrepreneur who got his first business cues when he worked for his family business, used his savvy and love for electronics to form an innovative company known for its structure of “wholly owned operations without external partners”. Andrew Pairman “The change occurs from the new realities of doing business”, said the Anbell boss, “to achieve the economies of scale you really need to run an operation of a certain size, I feel that it is far better to control a smaller portion of a successful growth oriented operation rather than full ownership of a small albeit thriving company.” It is this change in mindset that has propelled Mr. Pairman in the direction of forming Intelligent Multimedia Limited (IML), a company which will serve as the holding companies for all of Anbell’s media assets.
Mr. Pairman intends to make full use of the facility made available to him by the implementation of the Junior Stock Exchange by listing not only issuing an IPO for IML but also for Anbell’s foray into alternative energy called Anbell Renewable Energy Solutions (ARES). Mr. Pairman made it clear that he was excited and very supportive of the Junior Stock Exchange; he also had praise for Access Financial Services, the first company to announce its intention to make an Initial Public Offering on the 14th of October. “I wish to point out that I have followed the progress of Marcus James of Access Financial Services
and I believe they will have a successful IPO” stated Mr. Pairman. Mr. Pairman was very excited about the prospect of the ARES venture. With the expected demand for electric power in Jamaica and the aging infrastructure of the Island’s only power company, Mr. Pairman expects that his alternative energy aspirations will find footholds in the market. With the trust that the Anbell name has garnered over the years it seems inevitable that Mr. Pairman’s plans to tackle big business will be as much of a success as he has been so far.
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money smart - Raise Your Financial IQ!
10 Smart Steps to: Plan for Retirement
Prepared by Financially S.M.A.R.T. Services
Question:
I just started working with a small company that doesn’t offer a pension plan. I’m a little worried about this, and I want to start saving on my own. How can I go about investing for my retirement?
Answer:
It’s very important to make a plan while you are still working, to ensure that you’ll have enough money to last through your retirement years. Here are some smart steps that can help you to retire without worry:
1. Start early. It’s best to create a retirement plan when you’re
still young. Even a small monthly savings amount will grow into a comfortable nest egg with the benefit of time and the magic of compounding.
2. Seek financial advice. You don’t have to figure out how to plan for your retirement on your own. In fact, if you try to invest for this goal without expert advice, you’ll probably end up uncertain about your future. 3. Get a licensed investment advisor. Visit the various financial companies that offer approved retirement plans, ask questions about their services, and then choose an advisor that’s helpful and knowledgeable. 4. Determine your age requirements. Your desired
retirement age will determine the number of years you have left to invest towards creating a retirement fund. Your life expectancy will determine the number of years your nest egg should last.
Try to adjust your monthly amount every year in line with increases in the inflation rate.
9. Review your plan every year. Interest rate fluctuations, major changes in the economy and lifestyle adjustments may have affected the original plan projections. You may need to adjust your investment plan to ensure that you are still on target.
10. Adjust your strategy closer to retirement. As you approach retirement you
will need to modify your plan by reducing your allocation in riskier types of investments. You should also start consolidating your accounts to provide a consistent income stream. ……………………………………………………… Financially S.M.A.R.T. Services is Jamaica’s number one source for practical, down-to-earth and independent answers for all questions relating to personal finance. Get more money smart advice at www.financiallysmartonline.com. Email advice@financiallysmartonline.com with comments or questions. .
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5. Work out your retirement needs. To know how much you need to save now, you have to project how much money you will need to spend in the future. Your retirement expenses should be about 70% to 80% of your current expenses.
6. Consider the effects of inflation. Inflation is one of
the factors that prevent retirees from living comfortably, as it drastically affects the cost of goods and services over the years. Your financial advisor will project your spending needs adjusted for inflation.
7. Create an investment plan. Your advisor will recommend
the right mix of investments for your plan. These investments should be tax-free, and should take into account the effects of inflation and the depreciation of the Jamaican dollar.
8. Automate your investments. Use a salary deduction
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