Despite a federal government shut down, enrollment for ObamaCare – officially known as the Patient Protection and the Affordable Care Act (ACA) – went live on Oct. 1 and will continue through March 31, 2014. The legislation is groundbreaking for Americans, but the jury is still out on the execution of the program.
The intent is to give more Americans access to affordable, quality health insurance and to reduce the growth in health-care spending. No, it isn't designed to replace private insurance, Medicare or Medicaid.
The new law issues a mandate that most Americans obtain health coverage by the year 2014, obtain an exemption or pay a fee on their taxes for every month they do not have coverage. Most states established specific health insurance marketplaces (also known as exchanges), allowing citizens to shop for health insurance using cost assistance. Since Gov. Bill Haslam chose not to set up a marketplace, the Tennessee exchange was put in place by the federal government.
Many Americans realize the importance of saving for retirement, but knowing exactly how much they need to save is another issue altogether. With all the information available about retirement, it is sometimes difficult to decipher what is appropriate for your specific situation.
One rule of thumb is that retirees will need approximately 80 percent of their pre-retirement salaries to maintain their lifestyles in retirement. However, depending on your own situation and the type of retirement you hope to have, that number may be higher or lower.
Here are some factors to consider when determining a retirement savings goal.
The Memphis-Shelby County Airport Authority and Frontier Airlines on Wednesday announced that the Denver-based airlines will once again provide air service to the Memphis International Airport beginning March 2014.
"Today's exciting announcement from Frontier Airlines is the beginning of a new era of affordable airfare choices for our passengers," said Jack Sammons, chairman of the Memphis-Shelby County Airport Authority Board of Commissioners. "I am confident Frontier's direct service to Denver will be warmly embraced by passengers in our region."
Frontier's service in Memphis will feature four weekly nonstop flights to Denver, and opens up connections to 12 different western cities, including San Francisco, Seattle/Tacoma, Phoenix, San Diego, Las Vegas, Los Angeles, and Portland.
ON OUR WAY TO WEALTHY: I recently had an opportunity to see "Lee Daniels' The Butler" and it was moving. One of the things that impacted me was observing how various moments in history could be seen and experienced from so many different perspectives.
I also realized that I did not have to go see Daniel's fine work to hear actual stories about the civil rights experience.
Influencers of the civil rights movement abound in Memphis. Among them is Tri-State Bank President Jesse H. Turner Jr., whose experience frequently gets overlooked by documenters of Memphis history. He was the first to integrate a high school in the city of Memphis, breaking the barrier at Christian Brothers High School (CBHS) in 1963.
NEW YORK – BiblioTech is a new library in Texas, but you'd be forgiven for thinking otherwise. The library houses no physical books.
Staffers at San Antonio's BiblioTech say it's the first "bookless library." And in addition to its catalog of 10,000 e-books, this techy library also provides a digital lifeline to a low-income neighborhood that sorely needs it.
BiblioTech opened its doors Sept. 14 on the south side of San Antonio, a mostly Hispanic neighborhood where 40 percent of households don't have a computer and half lack broadband Internet service.
Decadent Avenue, an e-commerce retailer of fine furniture, will open its first North American retail showroom in East Memphis on Nov 1, with the Greater Memphis Chamber holding a ribbon cutting ceremony at 10 a.m.
"We are excited to make Memphis the home base for what will be many more showrooms throughout North America," said Neil Phillips, co-founder of Decadent Avenue.
To celebrate the move into the Memphis area (888 South White Station Rd.), a portion of the opening-weekend proceeds will be donated to Le Bonheur Children's Hospital to assist the hospital in its mission to provide Memphis-area children with a healthier, safer childhood.
MONEY MATTERS: Charitable giving can be a rewarding experience by allowing you to both give and receive. To enjoy the benefits of charitable giving, you can use a variety of strategies.
To establish a charitable remainder trust, you transfer appreciated property to an irrevocable trust and designate the charity of your choice as the beneficiary of the trust. The property within the trust is then sold and reinvested to provide income. You retain a lifetime interest in the income generated by the trust, and when the trust expires at your death, the property within the trust is transferred to the charitable organization.