Boomer Bloomer Press A "Real World" Press Byte for Blooming Baby Boomers! Volume 2 Issue 6 - June 2006 In This Issue   Reinventing Your Career "Get Real" Tips Guest Expert Corner - Know Your MOOP Boomer 4-1-1 Did You Know? From Jet Set to Desk Set - Then . . . and Now! Winston's Career-Wise Advice "In The Know" Stuff   Newsweek - Are You A Helicopter Parent? Civic Ventures - Boomers' Guide to Good Work more bloomer stuff   Notes from Lorraine's Speaking Engagements Boomer Bloomer Archive R & A Cool Friends Join our list   Join our mailing list! Greetings! College send offs, graduations, or weddings. Whether you're a "comeback-parent" preparing your return to the workforce, or preparing your children for college or marriage; these occasions all lead up to an empty nest. We'll share interesting news about how boomers are handling the transition of "letting go and moving on". On the flip side, if you're a college student getting ready to leap into a real world job, we've got news for you too! We've expanded our career services to assist new or (soon-to-be) college graduates with career search strategies and techniques! Another hot topic is healthcare. So, one of R & A's cool friends Vinny Catalano (Principal with Benefit Insurance Services) will give you the latest scoop on MOOP! As always, please feel free to share Boomer Bloomers with your friends, family, and colleagues. Who would have thought that "virtual bloomers" would be such a great way to stay connected?! Reinventing Your Career   Making A Comeback Many people who have taken time out of their career (for parenting, continuing education, partial retirement, etc.) are now trying to find their way back to the workforce. If progress seems slow and/or your outlook becomes confused, step back and recheck your priorities. Think about what motivates you the most (flexibility, benefits, pay, challenging work, etc.) and make sure the most important motivator is at the top of your list. Job hunting has changed and traditional methods may not create effective results. Today's job market calls for a fresh approach. Ready to learn more? ... "Get Real" Tips   Making the most of your resume Regarding Content - Update the content of your resume at least once a year (maybe around the time you receive your annual performance review at work) to ensure your accomplishments are always current. This is good practice for everyone, whether you're looking for a job or not. Nowadays you just never know when that perfect opportunity will present itself! Regarding Distribution - If you're in "job search mode", sending out 50 resumes a day may make you feel like you're busy; but it seldom nets effective results. Instead, do your research and target the "top 10 companies you want to work for". Next, focus on establishing a personal contact within each company and schedule an informational conversation. Such conversations are a great way to learn more about the company and hear about possible opportunities first hand. And, this person may even offer to hand deliver your resume to the appropriate hiring manager. Now that's better than getting stuck in a resume database any day! Guest Expert Corner - Know Your MOOP   By Vinny Catalano (Principal, Benefit Insurance Services) Your MOOP. It's not a disease....it's just the most important feature of your health plan. When people choose a health plan, they tend to focus on things like the copay and deductible, neither of which is the most important determinant of how much financial risk an individual might have to absorb in a calendar year. Hospital networks being equal, which of the following is a better plan and which is more expensive? A. $20 office visit copay, $500 deductible, 80% hospitalization, $5000 individual maximum out of pocket B. $30 office visit copay, $1000 deductible, 70% hospitalization, $4500 individual maximum out of pocket A is more expensive because of the lower copay and deductible, but...in my opinion they are effectively the same in a catastrophic situation (total $5500 out of pocket). If someone is hospitalized for a few days, they are likely to go through their deductible and their maximum out-of-pocket, but employers and employees tend to make their decisions based on the copay and NOT the maximum RISK to be borne by the individual in the worst case scenario. The most important feature of your health plan is the MOOP or Maximum Out Of Pocket. I would guess that only 10% of people know their MOOP. Think for a second...do YOU know yours? The MOOP is the most an individual/family will be out of pocket in a calendar year if a catastrophe strikes. After the MOOP is met, the insurance company pays 100% of the bills for the rest of the year. Paying more for a health plan doesn't necessarily lower your MOOP. MOOP Warning: For those on a PPO, there are different MOOP's whether you seek care in or out of network. Out of network MOOP's are more than double your in network MOOP. This is because insurance carriers cap what they will pay out of network. Therefore it is wise to consider using in network physicians/facilities and getting a estimate of costs before procedures are done. The MOOP is your individual/family annual stop loss...know it! For more information, Vinny can be reached at 916- 366-6100 or vcatalano@benefit-insurance.com. Boomer 4-1-1   Emptying the Nest If your children have left for college, you're an "empty nester". As parents, boomers are learning how to "let go" and watch their children become independent adults. For many, the process is extremely painful. Newsweek recently dedicated its cover to a story on the "Fine Art of Letting Go" describing this process as "the final frontier for boomer parents". (See the related "Are You A Helicopter Parent?" quiz in Newsweek). And, apparently saying "good bye" the first time is only the beginning. The May 2006 issue of Fortune Magazine published poll results stating that almost 60% of new college grads plan to move back in with their folks until they can get a good enough job to live on their own. So even when they leave, they'll probably be back. How long they stay depends on their ability to be interviewed and hired for real, grown-up jobs. At Rinker and Associates, we address the needs of recent graduates (or students who will be graduating soon) in their search for a real, grown-up job. We teach them how to sell their strengths, tell their story rather than just write a resume, and develop effective interviewing finesse. Learn more about R & A's Consulting for Grads. . . Did You Know?   Your retirement healthcare bill: $200,000 According to estimates released by Fidelity Investments in March of this year, a typical retired couple will spend $200,000 on prescriptions, deductibles, and Medicare premiums. From Jet Set to Desk Set - Then . . . and Now!   On My Own, But Not Alone! Being "lonely at the top" never bothered me in the corporate arena. The companies I worked for provided opportunities to expand my core competencies through executive learning forums with peers and mentors. I learned from some of the best senior executives across the country. These forums provided me with a safe haven to explore; there were never stupid questions or condescending responses; just open candid advice and guidance. Exchanging ideas with peers and masters was a great way to keep my mind sharp and my soul charged up. When I left the corporate world, these learning forums seemed out of my reach and became one of the first things I truly missed. Today, as a solo business owner, I find that being on your own doesn't mean you're alone. While exploring different professional organizations in our region, I found (thanks to Joe and Kris) a similar safe haven and learning forum in the form of a local Executive Round Table. Comprised of a diverse group of Sacramento area professional business owners and consultants, this group candidly discusses and solves strategic business related issues with the "ground zero" approach I thrive on. They have accepted me into their group and I am profoundly thankful to have found them. My practice of continual learning is alive and well; on my own but not alone :) LLR Winston's Career-Wise Advice   If you keep your nose buried in one rose too long, you might miss other blooming opportunities (or mishaps) around you! As a "woman who likes to manage things", it is my pleasure to lead a business focused on business advancement and career transition. Servicing people who are planning their next career step or re-entry to the workforce; I am living my passion to help you live yours. Today is your day! Hire Rinker and Associates to bring you closer to your career dreams and goals! Best/LLR Lorraine Lee Rinker, Principal Rinker & Associates Email: lorraine@rwcs.biz Web: http://www.rwcs.biz