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Tree-Stump Planting in Your Summer Garden

If you’ve ever had to remove a tree, you know how much work taking out the stump can be. Many gardeners find it easier (and less expensive) to leave the stump, while some go a step further and plant in it. Tree-stump planters add a touch of whimsy to the garden and make great focal points.

You may even find that you like the look so much that you want to add additional tree-stump planters to your landscape. Such planters are made from the trunks of trees.

Here are some tips for creating a tree stump planter for your yard this summer.

Hollow out the stump. If a tree stump is new, it will take more work to create a container out of it, as the wood will still be green. Tree stumps that have deteriorated for some time will be easier to hollow out. Either way, you’ll need a mattock or pickaxe to create a planting cavern. Wear safety glasses when you hollow out the stump.

(ZyFranklin/FreeImages.com)

After you’ve created a hollow in the stump that is at least 6 to 10 inches deep and wide, use a drill to make ½- to 1-inch in diameter drainage holes. Space the holes 3 to 4 inches apart and include holes on the sides near the base of the stump so that the water has a place to drain rather than pooling at the bottom, where it is likely to break down the base of the stump.

Fill the stump with soil. For best growing results, mix 75 percent well-draining potting soil with 25 percent compost. Fill the stump with the mix and then water well to settle. If after watering the soil settles to more than 1 inch below the stump rim, add more soil and water again.

Plant. Anything that grows well in a container will thrive in a tree stump planter. Plant annual or perennial flowers or small shrubs. To create a stunning focal point, combine three types of plants in the stump. Start by planting something tall and upright, like Echinacea, in the center of the stump. Surround that plant with medium to low-growing plants like geranium, and then fill the edges with trailing plants that spill over the sides of the stump planter, like lobelia.

( Landscaping Plants Nursery)

Whatever plants you do choose, make certain they are compatible in terms of required lighting.

Maintenance. Treat a stump planter as you would any container garden. Keep the soil moist but not soggy. Feed the plants every two weeks with an organic all-purpose fertilizer throughout the rest of summer and into early fall.

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as The American Gardener, Organic Gardening, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower GardeningFairy GardeningThe Strawberry Story, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

Grow Daylilies in Your Summer Garden

Looking for a summer and fall flower that offers a rainbow of bloom colors, thrives in just about any landscape and can be drought tolerant when necessary? Plant some daylilies. The botanical name for these easy-to-grow plants is Hemerocallis, which comes from two Greek words that mean beauty and day. The day refers to the fact that the each bloom only lasts a day. There are, however, many buds on one flower stalk that keep blooming over a long period.

Daylilies come in a wide variety of sizes—from 6 inches to 8 feet tall, with 3 to 4 feet the most common. The plants generally grow in a clump, which can spread to about a foot wide. Flower colors run the gamut, including bi-colored blooms. Common daylily colors include yellow, orange, pink, red, purple, white, cream and even brown.

(Claudia Meyer/FreeImages.com)

To have luck growing daylilies, keep the following cultivation tips in mind.

Provide sun or partial shade. Daylilies grow the best in full sun, but they will tolerate part-shade conditions. If you do plant them in part-shade, choose an area of the garden that gets at least six hours of sun a day, preferably in the morning and early afternoon.

Keep in mind that some flower colors, such as various pinks and yellows, require sufficient sun for them to display their best colors. On the other hand, darker colored daylilies, such as red and purple, can become washed out in the sun, so they do best with some afternoon shade.

(Eileen Klinger/FreeImages.com)

Plant in well-draining, fertile soil. Daylilies require a soil that drains well, yet retains sufficient water and is nutrient rich. To accomplish this, add generous amounts of compost to the soil when preparing it for planting. Raised beds are an excellent choice for creating good drainage and rich soil.

Fertilize. Add a starter fertilizer when planting daylilies and feed once in spring and again in midsummer with an organic fertilizer designed for flowering plants.

(Mary Ellen Rynes/FreeImages.com)

Water regularly. While daylilies grow in drought conditions, they do best when given regular water. In the absence of rainfall, give the plants a deep watering when the top 2 to 3 inches of soil has dried out. Avoid overhead watering, as this can cause spots on the blooms. To cut down on the need for watering and to improve the soil, mulch with 1 to 2 inches of shredded bark or leaf mold.

Groom regularly. Keep daylily plants tidy by removing spent blooms on a regular basis.

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as The American Gardener, Organic Gardening, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower GardeningFairy GardeningThe Strawberry Story, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

PAYING EMPLOYEES: COULD YOUR COMPANY BENEFIT FROM NEW PAY DAY OPTIONS?

A new trend in employee compensation has appeared: Paying employees immediately after a day’s work instead of waiting for pay day.

Writer/Author/Publisher/Speaker, Garden Guides Press
JULY 29, 2016As an employer, having a productive workforce is important. But for some employees, a personal financial shortage can cause a lack of focus on the job. Whether it’s temporary or chronic, the fact is that some employees live paycheck to paycheck. The stress that can come from this financial reality can negatively affect their work performance, leading some business to rethink how they go about paying employees.

It used to be that only a handful of options existed for financially-strapped employees to access ready cash in between paychecks. These included expensive payday loans or other emergency lending services. Recently, a variety of options for paying employees right after a day’s work have sprung up. Small-business owners can now arrange it so that they pay employees via payroll cards, ATMs and other methods. Companies that have recently added such instant payment options include Lyft and Uber.

“In the staffing industry, we often advise employers to differentiate themselves as great places to work,” says Nicole Smartt, vice president of Star Staffing. “These employers are spending a good amount of money on retention techniques and marketing their company cultures to attract employees. Now that the option is available, our company is adding instant payment for a day’s work to the list of options we suggest as ways to attract and retain employees.”

Benefits of Paying Employees Immediately

“As perks go, giving employees quicker access to their pay is a lot less expensive than raising salaries or increasing benefits,” says Smartt. “The trend of instant pay for a day’s work empowers employees in a way that doesn’t cost the employer much in the way of fees or manpower. Overall, it’s a real perk for everyone.”

If you roll out an immediate payday option plan, once employees have had a chance to review the written details you’ve provided, consider having a company meeting to answer specific questions.

Employees who have the option of being paid quickly may also be more prone to working overtime when they know that there’s an immediate payoff in the end, believes Smartt. “More than that, instant payment for a day’s work puts employees in the driver’s seat of their own finances and may alleviate some of the financial stresses that they’re under—including the rising cost of housing.”

Downsides of Paying Employees on Demand

The drawbacks of being paid following a day’s work include a need for increased payroll management for the small-business owner. For employees, there are fees associated with the service, generally ranging from 50 cents to $3 a transaction, although those costs can pale in comparison to the percentage extracted by the typical payday loan service or the cost of bank overdraft fees.

“It’s also possible that employees could become dependent upon the easy money to the point that there’s not enough left in their ‘regular’ paychecks to cover the essentials,” adds Smartt. Michael Houlihan and Bonnie Harvey, founders of Barefoot Wine, agree.  “Daily compensation does not enforce savings and the assignment to larger bills and expenses that occur on a monthly basis. It assumes that folks on this system will save up for those expenses on their own.”

While the state of your employees’ personal finances isn’t your domain as an employer, their potentially poor work performance because of financial strain can ultimately affect your bottom line. With that in mind, if you’re thinking of paying employees quickly, it’s advisable to ensure that employees understand how such on-demand payment plans work, so that they can use them effectively.

If you roll out an immediate payday option plan, once employees have had a chance to review the written details you’ve provided, consider having a company meeting to answer specific questions. You may also want to include the on-demand pay guidelines in your employee manual.

Read more articles on hiring & HR.

Photo: iStock

The information contained in this article is for generalized informational and educational purposes only and is not designed to substitute for, or replace, a professional opinion about any particular business or situation or judgment about the risks or appropriateness of any financial or business strategy or approach for any specific business or situation. THIS ARTICLE IS NOT A SUBSTITUTE FOR PROFESSIONAL ADVICE. The views and opinions expressed in authored articles on OPEN Forum represent the opinion of their author and do not necessarily represent the views, opinions and/or judgments of American Express Company or any of its affiliates, subsidiaries or divisions (including, without limitation, American Express OPEN). American Express makes no representation as to, and is not responsible for, the accuracy, timeliness, completeness or reliability of any opinion, advice or statement made in this article.

Grow Angelica in Your Summer Garden

With its white, lacy blooms and name, angelica conjures up the ethereal. But did you also know that this summer bloomer is responsible for martinis? A European herb that blooms profusely at this time of year, angelica is used in a variety of liquors, including gin and vermouth. Throughout history, its foliage has also been used to make herbal teas for medicinal purposes.

In the same family as carrots and parsley, Angelica features showy, umbrella-like flowers that make great landing pads for butterflies and bees. The leaves have a musky scent and sweet flavor. The giant roots that resemble large, pale carrots and the plant’s seeds are also edible. Foliage, roots and seeds of angelica can be used to make tea and as seasoning.

To have luck growing angelica in your summer garden, keep the following growing tips in mind.

Ensure adequate drainage. Angelica requires rich, fertile soil with good drainage to do well. Dig a 6- to 8-inch hole in the garden where you wish to plant angelica and fill with water. The water should drain within an hour. If it doesn’t drain, dig compost and pumice into the planting hole and re-test by filling with water again. Even if you do have good drainage, mix compost into the planting hole prior to planting to enrich the soil.

Provide sufficient growing space. Angelica grows 1 to 6 feet tall and will spread 2 to 4 feet wide, if given enough growing space.

Plant in part-shade. Place angelica in a part of the garden that receives some shade in the summer months. Good locations are those that get morning sun and afternoon shade. The plant can also thrive in an area with dappled sunlight throughout the day. The latter is a particularly good location for parts of the country that experience especially hot summers.

(Plant America Nursery)

Water regularly. Keep the soil surrounding angelica moist but not soggy. This is of particular importance during very hot weather. Angelica is not drought tolerant. If allowed to dry out, it will most likely not rebound. Keeping the planting area well weeded also helps to keep weeds from taking water from the plants.

Fertilize occasionally. Angelica benefits from a starter fertilizer when you plant and then another feeding three to four weeks later. Use an organic fertilizer designed for flowering plants.

Dry for tea or flower arrangements. If you wish to dry angelica to make tea leaves or to use the flowers in dried bouquet arrangements, cut flower stalks at the base of the plant during the morning or evening hours. Hang the stalks upside down in a cool, dry area of the home out of direct sunlight. Once the foliage is completely dry, use the flowers for dried arrangements, or store leaves for tea in a metal tin or glass container out of bright light.

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as The American Gardener, Organic Gardening, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower GardeningFairy GardeningThe Strawberry Story, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

Expert Tips for Gardening with Allergies

If you have gardening in your DNA, you know that problems like allergies aren’t going to stop you from communing with Mother Nature and enjoying her endless bounty. When a fragrant flower blooms, I’ll stick my nose right into it, despite the fact that I’m allergic and asthmatic. And when the garden calls me, I answer, despite a stuffy nose or itchy eyes.

I have found over the years as an avid gardener that there are steps you can take to make your garden enjoyment less problematic in the allergy department. Board-certified allergy and asthma specialist Dr. Neeta Ogden agrees.

“Gardening can definitely be enjoyed, despite allergies,” she says. “It’s very important that people continue the activities they love—even with allergies—as these activities bring us emotional happiness and can counter the negative stress of any medical condition. People just need to approach it wisely and with preparation.”

Here are tips for combatting outdoor allergens and enjoying the great outdoors with as few symptoms as possible.

Know when to garden. Avoid gardening early in the morning or at dusk when pollen counts are highest, advises Ogden. “Plants produce most of their pollen in the early morning and late evening, so the pollen output of all plants is highest between 5-10 am and again around dusk. That said, our allergy seasons have become so severe with all–day spiking pollen counts, that the distinction in time of day is becoming increasingly less relevant.”

Wear a hat, sunglasses, gloves and gardening shoes. Protecting your head, eyes, hands and feet limits exposure by creating a barrier between yourself and the pollen, says Ogden. “This diminishes your body’s exposure to pollen as you garden and its access to those specific parts of your body that can trigger symptoms.”

Wash or wipe away pollen after gardening. As soon as you finish gardening, remove microscopic pollen by taking off your clothes and either washing your hair and body well or wiping down with baby wipes and using a saline rinse on your eyes, advises Ogden.

“Wash your hair thoroughly with shampoo and use a cleanser on your face or gently cleanse your upper eyelids, eyelashes and eyebrows with baby wipes. To rinse your eyes, use a saline solution for contact lens wearers. Stand over a sink and tilt your head to the side and irrigate your eyes to rinse them out. If possible, look for a preservative-free saline rinse, so it’s less irritating.”

Be prepared and armed. “Taking allergy medications will help significantly,” says Ogden. “If you are a mild allergy sufferer, taking medication 60 to 90 minutes before gardening may be enough. More severe sufferers will need to be on a nasal spray and oral medication at least two weeks before the season begins. People with ocular allergies need to have their eye drops on hand and use them the day they garden or daily, if they have regular symptoms. For people who experience breathing difficulties, rescue inhalers should be on hand. Finally, for very severe sufferers, allergy shots have been successful at eliminating seasonal allergies completely.”

Stick to your allergy medication regimen. “It’s important to stick to a plan for the entire season – even if you are eventually feeling better,” says Ogden. “I see a lot of allergy patients who may eventually feel good or experience a lull in their symptoms and then forget to take their allergy medications when they go outside. This often leads to allergy symptoms rearing their ugly heads again, so it’s important that you make a conscious effort to be aware and not complacent about your allergies.”

Pay attention to indoor allergens. “Allergens lurk year-round in our homes,” says Ogden. “Seasonal allergy sufferers probably have, or at some point will develop, indoor allergies to things like mold and dust mites, so I advise all of my allergy patients to protect themselves indoors by regularly cleaning their homes, dusting with damp cloths and using allergen barrier bedding, mattress and pillow protectors, such as Allerease.”

See a board-certified allergist. “It could be very helpful for an allergic gardener to see a board-certified allergist to discover what specific trees, grasses, and weeds they are allergic to,” says Ogden. “This will help them modify their garden in such a way that they might be exposed to less allergenic species.” A helpful resource in this area is The Allergy Fighting Garden: Stop Asthma and Allergies with Smart Landscaping by Thomas Leo Ogren.

Monitor the pollen count. Most weather apps have daily pollen updates. Avoid long days gardening outside when the counts are especially high. Other good resources include the American College of Allergy Asthma and Immunology and the Allergy and Asthma Foundation of America.

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as The American Gardener, Organic Gardening, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower GardeningFairy GardeningThe Strawberry Story, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

Renovate Your Lawn with Miniclover

Lawns. Depending on who you talk to, it seems we can’t live with them and we can’t live without them. If you live in an area where water can be scarce, like I do in Southern California, plenty of people insist you can do away with lawns.

There’s something about a swath of green that calms and cools you, though. Research even shows that turf does a great deal for our landscapes and earth, including cooling the environment, cleaning the air, improving and restoring the soil and preventing erosion. And it just feels good to go barefoot on the lawn.

As always, if you look to Mother Nature with a quandary, she’ll answer. That’s what some forward-thinking companies have done in recent years, like Outsidepride. They offer Miniclover (Trifolium repens) for lawns. This perennial clover—not to be confused with invasive White Dutch Clover—grows four inches tall, making it an ideal lawn alternative or addition to your current lawn. It is aggressive enough to fill in bare spots in the lawn, but not take over.

(Outsidepride)

In addition to producing a bright green, eye-candy lawn, Miniclover features a variety of other benefits, which include:

Nitrogen fixer. This means that Miniclover takes nitrogen from the air and “fixes” it in your soil. The result is less need for fertilizing.

Prevents weeds. Miniclover pushes out weeds as it grows via stolons (stems that grow horizontally along the ground).

Low maintenance. You can mow miniclover, which tolerates low mowing heights, or simply let it grow, as it doesn’t grow tall and unwieldy.

(Outsidepride)

Thrives in sun to partial shade. Unlike some turfgrass types that do poorly in part-shade, Miniclover does quite well.

Drought tolerant. Clover has longer roots than regular turfgrass, which means it can access more water. It will also tolerate wet conditions.

Stands up to foot traffic. Miniclover has superior wear tolerance and does well in compacted soil.

Makes an excellent groundcover. If you want a plant that will fill in bare spots in the landscape, Miniclover makes a great groundcover. Grow it on its own, or because of its adaptability and ability to grow in a wide variety of conditions, you can easily combine it with other groundcover plants, such as evergreen ginger, ivy, thyme, ajuga, lamium and creeping phlox.

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as The American Gardener, Organic Gardening, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower GardeningFairy GardeningThe Strawberry Story, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

Plant Goldenrod for Brilliant Summer Bloom

Now that summer is in full swing, you might wonder if it’s too late to plant flowers. The good news is there’s still time to include summer and fall bloomers in your garden, like goldenrod. Botanically known as the Solidago species, this group of wildflowers is part of the daisy family.

Featuring brilliant bright yellow or golden flowers, goldenrod makes a showy statement in the garden from July through September. The plant is an ideal choice for borders, as well as meadows, native gardens and herb gardens.

Often found in natural settings, goldenrod is easy to grow and naturalizes in the garden, ensuring that you’ll be able to enjoy its blooms for many years to come. The eye-catching flowers are rich in nectar and attract bees, butterflies and many beneficial insects. Contrary to popular belief, goldenrod does not cause hay fever.

(Joe Zlomek/FreeImages.com)

To have luck growing goldenrod in your summer garden, keep the following cultivation tips in mind.

Plant in full sun. For best blooming, locate goldenrod in an area of the garden that gets at least seven to eight hours of sun a day.

Provide good drainage. Goldenrod will grow in just about any soil type, providing that it drains well. If the area tends to remain soggy, amend with homemade or bagged compost and pumice.

(Sandra Cunningham/FreeImages.com)

Water to establish. Fairly drought tolerant, goldenrod doesn’t require much additional water once established. When you first plant the flower, however, it’s important to keep the soil moist, but not soggy. Once new growth appears, gradually taper off on watering.

Avoid fertilizing. As a wildflower, goldenrod prefers soils that aren’t nutrient rich, so avoid feeding this plant. Overly rich soil will lead to excessive foliar growth and weak stems, but little to no flowering.

Deadhead. Cutting off flower heads of goldenrod before they go to seed keeps the plant blooming well and looking tidy. This will also keep goldenrod from reseeding, if you want to keep new plants to a minimum. When deadheading, also prune to shape.

(Bill Kuhn/FreeImages.com)

Divide periodically. Dividing goldenrod every two to four years in late fall or early spring will create stronger, healthier plants. Dig up the plant’s rhizome (underground stem) and cut in half or thirds with a sharp knife. Replant each section.

Enjoy cut flower arrangements. Goldenrod makes a stunning flower show indoors. Cut and create loose, colorful arrangements.

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as The American Gardener, Organic Gardening, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower GardeningFairy GardeningThe Strawberry Story, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

Grow Ferns in Your Summer Garden

At this time of year when the summer heat finds you seeking refuge in the shadier, cooler parts of the garden, make the experience even more inviting by planting shade-loving ferns. These lacy beauties may look delicate, but they are actually quite sturdy and surprisingly easy to grow. Plant a few varieties, and you can enjoy a sea of various eye-catching greens in your garden.

With so many fern choices, it’s easy to find some for your garden. They make good border plants and do well growing around the base of trees. Ferns come in a wide variety of sizes, from small, moss-like plants, to tall tree ferns, such as Cinnamon fern (Osmundastrum cinnamomeum), which reaches 4 feet tall in the garden. The sword fern (Polystichum munitum) has fronds that can grow up to 5 feet in length.

(Julie Bawden-Davis)

Some ferns also grow well indoors, including Boston and maidenhair fern.

To have the best luck growing ferns in your outdoor or indoor garden, keep the following tips in mind.

Provide shady conditions. Most ferns require low light. Plant ferns under a tree or in the shade of a structure, such as under a patio cover. Indoors grow ferns in bright, indirect light.

(Brandon Keim/FreeImages.com)

Plant in rich, well-draining soil. Ferns grow the best in humus-rich, moist soil that drains well, such as what is found on the forest floor. Plant in an area of the garden that offers these conditions, or amend with generous amounts of homemade or bagged compost. Grow indoor ferns in a mix of three parts organic potting soil to one part worm compost in a container with drainage holes.

Keep moist. Water ferns regularly, so that the soil stays moist but not soggy. To retain soil moisture and keep fern roots cool, add a 2-inch layer of shredded bark to the area surrounding the plant. Water the ground thoroughly before applying the mulch and then water again once the mulch is applied, which will seal in moisture. Indoor ferns can also be mulched.

(John Evans/FreeImages.com)

Feed occasionally. Ferns aren’t heavy feeders but do respond well to a fertilizing once in spring and again in mid-summer. Apply an organic, well-balanced fertilizer.

Provide extra humidity indoors. Most ferns thrive in humidity, which can be in short supply indoors—especially if the home is air-conditioned or heated. Ferns not receiving sufficient humidity in the indoor garden will experience dry, brown leaf tips and edges. Increase humidity for ferns by grouping plants, which each transpire and release moisture into the air. Misting daily and placing ferns over humidity trays also helps raise the moisture level surrounding the plants.

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as The American Gardener, Organic Gardening, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower GardeningFairy GardeningThe Strawberry Story, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

COULD BREXIT AFFECT YOUR SMALL BUSINESS?

With Brexit in the rearview mirror, seven experts share what they think small-business owner should keep in mind for the future of their business.

Writer/Author/Publisher/Speaker, Garden Guides Press
JULY 07, 2016Now that the dust has settled regarding the United Kingdom’s unprecedented recent vote to leave the European Union, as a small-business owner, you’re most likely wondering how Brexit could affect your company in the long run. While the opinions vary as to the potentially lasting effects, many agree that the situation has presented small-business owners with a variety of potential challenges and lessons.

I spoke with several experts in the financial industry for their takes on how Brexit has and could affect small businesses. Here’s what small-business owners I interviewed said you should think about as you prepare for the rest of the Brexit fallout.

Change in International Business

There are likely to be changes for those companies that do business internationally, but not immediately, notes Rick Rivera, a partner of Safeguard Investment Advisory Group, which specializes in retirement planning.

“Small businesses dealing internationally must keep in mind that these changes may take up to two years to go into effect,” says Rivera. “The only immediate potential effect would be exchange rate concerns, but that is nothing new. This means there is no need to panic or overreact. There is nothing that is going to happen overnight that small-business owners won’t have time to react to if the need should arise.”

The biggest concern regarding Brexit will be that the U.K. would not be able to duplicate the types of trade deals it currently possesses with third parties, adds Willie Schuette of The JL Smith Group. “Small retailing businesses will now have to have separate European distribution; meaning lower margins and higher shipping costs. And new rules, agreements and laws will have to be rewritten and contractual agreements will be impacted.”

Long-Term Uncertainty

The Brexit vote created a situation that very few businesses had prepared for, believes Jeff Stibel, vice chairman of Dun & Bradstreet, which is offering complimentary access to business credit reports until the end of July. “Savvy small-business owners are waiting to see what this vote actually means versus reacting quickly, which leaves many small businesses exposed to long-term uncertainty,” says Stibel. “Businesses are good at operating in good times and typically have a plan for the tough times, but they are uniformly bad at operating in times of uncertainty. For this reason, many small businesses may be feeling vulnerable at this time.”

Long-term uncertainty regarding the effects of the Brexit vote does seem to be in the cards, agrees retirement income planning specialist Alexander Joyce, president of ReJoyce Financial.

“Look at who your clients are, who your vendors are and how they all might be affected. Determine if you will experience any ripple effects. It could be three to six months out, but don’t be blindsided.

“Being in the financial services industry and providing retirement planning solutions, we get a direct market indicator as to the sentiment regarding Brexit that plays a role in market fluctuation and volatility,” says Joyce. “The baby-boomer generation doesn’t like change, especially if it is sudden, directly impactful and out of their control. Brexit changed our long-term planning objective for some of our clients, as well as caused immediate change and/or modification in the short term. Our goal for each client is successful retirement planning, but so far in 2016 that goal is becoming harder to manage. Interest rates, as we know, are nearly negative. Brexit will significantly impact an already weak US economic growth.”

Potential Economic Disruption

Certain parts of Europe and Asia are seeing zero and negative interest rates, notes PBS TV financial show host Joshua Mellberg, founder and CEO of J.D. Mellberg Financial. “The United States is seeing more and more money coming over from Europe, because the risk is so high there and the interest rates so low. For our business, it actually helps us, because we focus on protecting people’s money, but if we continue to see bigger ripple effects here in the U.S. leading closer to zero to negative interest rates, that will hurt us. If you look at the UK, you’ll also see tremendous inflation that could potentially hit here, as well.”

Brexit could also significantly affect your acquisition costs, believes Joyce. “Wise small-business owners make everyday operations decisions not based off of assumptions or a conservative approach from questionable knowing, but by knowing the actual numbers,” he says. “For many small businesses the cost per acquisition has gone up or will go up. If your business is already struggling, this could be highly detrimental.”

What to Keep in Mind Regarding Brexit and Your Business

Don’t panic. “So far Brexit has been a non-event for the small business owner,” says Chuck Price, radio show host, author and president of Price Financial Group Wealth Management.

“Be careful not to overreact,” agrees Joseph Mallen, chief investment officer for Sawtooth Solutions, a technology-focused company that concentrates on wealth-management platforms. “There may be some benefits in the area of potential trade agreements,” he says. “I think the UK leaving the EU, especially from the U.S. standpoint, is going to allow the U.S. and the UK to negotiate their own free-trade agreement. That could actually be a benefit to U.S. companies in the long run.”

Build up cash reserves. Having sufficient cash capital as a small-business owner can be helpful. “When events like Brexit happen, the market will react,” says Joyce. “Depending on your profession, this could affect your marketing, bottom line and ultimately your operations.”

Avoid being blindsided. “Look at who your clients are, who your vendors are and how they all might be affected,” says Mellberg. “Determine if you will experience any ripple effects. It could be three to six months out, but don’t be blindsided.”

Always focus on customer service. “When a business has a loyal following, it can weather most storms,” says Rivera. “Always concentrate on what makes your business unique and what keeps customers coming back. If you’re doing all of the right things, chances are Brexit won’t affect your business.”

Read more articles on market research.

Photo: iStock

The information contained in this article is for generalized informational and educational purposes only and is not designed to substitute for, or replace, a professional opinion about any particular business or situation or judgment about the risks or appropriateness of any financial or business strategy or approach for any specific business or situation. THIS ARTICLE IS NOT A SUBSTITUTE FOR PROFESSIONAL ADVICE. The views and opinions expressed in authored articles on OPEN Forum represent the opinion of their author and do not necessarily represent the views, opinions and/or judgments of American Express Company or any of its affiliates, subsidiaries or divisions (including, without limitation, American Express OPEN). American Express makes no representation as to, and is not responsible for, the accuracy, timeliness, completeness or reliability of any opinion, advice or statement made in this article.

Grow Lobelia in Your Summer Garden

Interested in growing a flower that looks dainty and elegant, yet is an easy-to-maintain repeat bloomer? Try growing lobelia in your summer garden. These carefree flowering plants remain covered with eye-catching blooms throughout the summer months, and even into the fall. Flower colors are brilliant, coming in stunning violet-blue, as well as yellow, white, red and pink.

Featuring a charming cascading habit, lobelia makes an excellent choice for window boxes, raised beds, hanging baskets and containers. It also does well as a ground cover. Even better, lobelia tends to be deer resistant, and the flowers attract butterflies and hummingbirds.

For the best of luck growing lobelia, keep these cultivation tips in mind.

Plant in full sun to partial shade. Locate lobelia in an area that gets five or more hours of sunlight each day. The plant will bloom in partial shade. The best part-sun situation for lobelia is morning sun and afternoon shade.

(FreeImages.com/Simon Coomber)

Ensure good drainage. Like many plants, lobelia doesn’t do well in soggy soil. Prior to planting, check that the planting area drains well. If water drains slowly, amend the area with homemade or bagged compost and recheck the drainage. Avoid drainage issues by planting in containers with high-quality, organic potting soil.

Water regularly. Lobelia requires consistent soil moisture for prolific blooms. Water the plants regularly in the absence of rainfall, so that the soil is moist but not soggy. To help keep the soil surrounding lobelia consistently moist, mulch with a 2-inch layer of ground bark or leaf mold.

(FreeImages.com/Jean-Pierre Cremers)

Prune occasionally. To have the most blooms, it’s necessary to pinch or prune lobelia back to keep it bushy, which will lead to continual flowering. Once flowers fade, prune them off and new buds will appear.

Fertilize monthly. Feed lobelia on a regular basis with an organic fertilizer designed for flowering plants. Apply monthly from spring through early fall.

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as The American Gardener, Organic Gardening, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower GardeningFairy GardeningThe Strawberry Story, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

7 WAYS TO HELP REDUCE EMPLOYEE POACHING

Are your best employees at risk for jumping ship to a competitor? These steps may help you keep your valuable staff.

Writer/Author/Publisher/Speaker, Garden Guides Press
JUNE 22, 2016It may not be talked about openly, but employee poaching is an unpleasant reality. Take a look at many of today’s top companies and you’ll see them vying for the best and brightest workers.

The luring away of top talent may hurt any company, but small businesses may be especially vulnerable. After investing time and energy into training high-performing employees and coming to rely on their services, having them snatched away may be a devastating blow to the bottom line.

Unfortunately, poaching may be on the increase, believes Dan Prosser, author of Thirteeners—Why Only 13 Percent of Companies Successfully Execute Their Strategy—and How Yours Can Be One of Them. “The competition for employees in America, despite higher than reported actual unemployment numbers, is about to get worse, not better, and the companies who will win this ‘war for talent’ will be the companies who ascribe to the largely unrecognized relational values of the new world of work.”

For the small-business owner, it may not be feasible or practical to launch into a bidding war over an employee. And the reasons employees leave may be more complicated than money.

“If you try to address the symptom as most companies do by piling on more benefits and perks, you simply delay for a short time the devastating impact of the real problem,” Prosser says. “Engagement is what will allow companies to cement relationships with their most valuable employees, and it’s what most employees desire.”

Employees worth keeping are always looking for new responsibility and want to know that there are next steps and that they are not in dead-end jobs.

—Bonnie Harvey, co-founder, Barefoot Wine

Attracting and keeping employees can be a multifaceted challenge. Offer the following perks to your workforce, and employees may be less likely to leave for your competitors.

1. Provide Responsibility

“Give your employees permission to be creative in solving problems and even make mistakes,” Harvey says. “Share the company’s challenges with them and ask for their ideas. Then when they solve a problem, reduce costs or increase sales, acknowledge them publicly. The team will have more respect for them and want the same kind of acknowledgement themselves.”

2. Create a Clear Career Path

Identify the trajectory of each key job. “Employees worth keeping are always looking for new responsibility and want to know that there are next steps and that they are not in dead-end jobs,” Harvey says. “Make them part of a growing company where they see that as the company expands, insiders have the advantage in getting the top jobs. They won’t be so eager to jump ship if they can see what is waiting for them.”

3. Pay for Performance

Don’t pay everyone the same no matter how they perform or how well the company does, Houlihan advises. When you pay your people right, non-performers can’t afford to stay and performers can’t afford to leave. Recognizing performers with salary differentials can send the message they don’t have to leave to get what they deserve.

4. Institute “Stay” Bonuses

Match some portion of key employee salaries in an account that is at risk if they leave the company before a set period of time, Harvey suggests. “As the time approaches, offer to increase the contribution for a new extended term of tenure. This can be done with notes, stock options, cash or contributions to tax deferred retirement funds. The investment will be a fraction of the cost of losing a key player.”

5. Provide Flex Hours

Don’t let poachers lure people away with the flexible hours they require for childcare and personal needs. Wherever possible, consider using technology to allow remote work.

6. Focus on Work-Life Balance

“A small business can differentiate itself by creating a balanced life for employees,” says Josh Davis, author of Two Awesome Hours: Science-Based Strategies to Harness Your Best Time and Get Your Most Important Work Done.  He notes that while a balanced work life does mean less work, it can actually lead to higher productivity.

As part of a balanced life, you could offer employees time off based on how long they’ve been with the company. Consider extending sabbaticals to key employees. Adequate time off can keep employees happy and encourage them to stay put.

7. Stand for Something

In today’s world of increasing transparency, it may not be enough to have the best products or services. “Employees want to be proud of their company and what it stands for in the broader community,” Houlihan says. “Give them the feeling that they are making a difference, and they will be more likely to stay for social reasons.”

If you do lose an employee to poaching, you might treat the event as a learning experience. Determine what the other company offered in money, benefits and perks, and ask the departing employee why those things are preferable to what you offer. This may enable you to take proactive measures to reduce the likelihood of a reoccurrence.

It may also be best to bow out gracefully, advises Linda Losey, owner of the Bloomery Plantation Distillery. “Wish the employee well, and keep the door open. The possibility of paths crossing in many industries is very real. It’s all about relationships and preserving your reputation.”

Read more articles about HR.

A version of this article was originally published on June 18, 2015.

Photo: iStock

Celebrate Pollinator Week by Gardening for Monarch Butterflies

It’s Pollinator Week (June 20-26). Time to celebrate the little creatures that ensure our crops produce fruits and veggies. A good way to do this is to preserve endangered pollinators like monarchs, whose populations have dipped over the last two decades.

With their intricately designed orange and black wings, these lovely creatures light up the backyard as they flit about. But don’t let their delicate features fool you. These are actually sturdy winged insects that migrate an astounding 1,200 to 2,500 miles. This migration occurs in autumn when they fly to Mexico to overwinter and again in spring when they return north to reproduce. They are able to find their way thanks to an internal GPS of sorts that points them in the right direction.

You can help preserve monarchs and ensure that we continue to enjoy them in nature and our gardens by keeping a few tips in mind.

Plant Milkweed (Asclepias species) for Monarchs

Monarch adults only lay their eggs on milkweed (Asclepias), because their resulting caterpillars will only eat milkweed. Milkweed is easy to grow in the garden and comes in orange, pink, purple, yellow and white. Many species reseed readily in the garden, but this is a good thing, because the more milkweed, the more monarchs gracing your garden.

Besides being tasty to caterpillars, milkweed helps the insects ward off predators. It turns out that milkweeds contain glycoside toxins. These are harmless to the monarchs, but make the insects poisonous to predators in the caterpillar and adult butterfly stage.

Monarch on Cone Flower (Joe Kucharski, freeimages.com)

Add Nectar Plants to the Mix

Adult monarch butterflies like to dine on a wide variety of nectar flowering plants. Add a wide range of blooming plants to your garden, including butterfly bush (Buddleia), Echinacea, Mexican flame vine, orange cosmos (Cosmos sulphureus) Mexican sunflower (Tithonia), sunflower, azalea, bee balm, echium, liatris, Mexican bush sage (Salvia leucantha) Verbena bonariensis, some pentas, allium, goldenrod, rudbeckia, lantana and zinnia.

Protect Monarch Caterpillars

Familiarize yourself with the large caterpillars featuring black, yellow and white bands and black tentacles on their front and hind ends. These will undergo metamorphosis and become monarchs. This process starts when the adult monarch lays eggs on the milkweed, and the eggs hatch in about four days. The caterpillars then grow over a two-week period while feeding on the milkweed foliage. They then form a chrysalis, which is green with yellow spots. Two weeks later the adult monarch emerges from the chrysalis.

Monarch caterpillar (Rachel Kirk/freeimages.com)

Prevent killing monarch caterpillars and other beneficial insects in your garden by avoiding the use of pesticides. Instead of spraying, handpick harmful pests like Japanese beetles and tomato hornworms, and spray aphids with a steady stream of water. If you want monarchs in your garden, you’ll need to tolerate feeding damage on your milkweed foliage. Know that the more bites you see, the more butterflies you’ll be able to enjoy.

Congratulate Yourself

When you see monarchs flying around your garden, pat yourself on the back. Not only do you get a private show of these magnificent winged beauties, you can congratulate yourself for doing your part to protect our precious pollinators.

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as Organic Gardening, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower GardeningFairy GardeningThe Strawberry Story, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

Grow Campanula in Your Summer Garden

Also known as bellflower, campanula is an easy-to-grow flower that blooms throughout the summer months and into fall. The plant generally grows 1 to 3 feet high, and the flared, purple blossoms are easy to spot—even from a distance.

To have the best luck growing campanula, keep the following cultivation tips in mind.

Plant in full sun. Campanula requires bright light to flower well. Locate in an area that receives a minimum of 6 to 8 hours of sun each day.

Provide moist, well-drained soil. Bellflowers do best in soil that retains moisture yet drains quickly. Prior to planting, amend the soil with compost and pumice. After amending, check drainage by digging a 6- to 8-inch-deep hole and filling with water. It should drain completely within a couple of hours. If the area doesn’t drain quickly, amend the soil even more.

Campanula (Adriana Herbut/Freeimages.com)

Water regularly. Keep the soil surrounding campanula moist but not soggy. Water when the top inch of soil dries out. Avoid letting the soil dry out completely between waterings.

Mulch. Conserve soil moisture in the campanula bed and prevent weeds by mulching with a 2- to 3-inch layer of shredded bark. Doing so keeps the soil moist, preventing the plants from getting overheated or drying out, which helps preserve the blooms.

Campanula (Chrissi Nerantzi/freeimages.com)

Fertilize periodically. Campanula thrive if fed once in the early spring and again midsummer. Use an all-purpose, organic fertilizer for blooming plants, such as a 5-10-10 or a 10-20-20. Water the soil well after feeding.

Prune often. To promote repeat blooms, prune off spent flowers with pruners or by pinching as soon as flowers fade.

Campanula (Gerla Brakkee/Freeimages.com)

Divide and transplant. Every two to four years, when campanula plantings become crowded, dig up and divide the flowers and replant. This is best done in early spring.

Watch out for pests and disease. Snails and slugs will quickly devour campanula. Remove and destroy the pests when you see them. Avoid overhead watering, as the excess moisture on the foliage can attract these invaders. The disease powdery mildew can also be a problem for campanula. The condition causes a white coating on leaves and stems, as well as wilting and flower and foliage loss. Prevent mildew by planting in an area of the garden that receives good air good air circulation.

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as Organic Gardening, The American Gardener, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower Gardening, Fairy GardeningThe Strawberry Story Series, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

LEARNING FROM DREAM BIG SMALL BUSINESS OF THE YEAR AWARD WINNERS

America’s Small Business Summit this week in Washington D.C. honors successful companies that have made their mark. Learn the formula for their success.

Writer/Author/Publisher/Speaker, Garden Guides Press
JUNE 16, 2016It’s always satisfying to be rewarded for a job well done, and at this week’s 12th annual America’s Small Business Summit, a number of SMBs were awarded for their contributions to the U.S. economy. Held in Washington D.C., the yearly event honored 100 Blue Ribbon winners and seven regional finalists, including the DREAM BIG Small Business of the Year Award finalist that received a $10,000 cash prize. (In order to be eligible for the DREAM BIG award, small businesses must have had less than 250 employees and $20 million in annual revenue in 2013 and 2014.)

This year’s DREAM BIG 2016 winner and Western regional finalist was SearchPros Staffing  in Citrus Heights, California, which opened 11 years ago. In a video  that appears on the U.S. Chamber of Commerce website, the company’s founder and other key personnel discuss how SearchPros has grown over the years and what has led to their success, including acknowledging employees for their dedication and hard work, focusing on continual growth and contributing to community causes.

Attended by more than 800 small-business owners and chamber executives, the Small Business Summit also featured presentations from a variety of experts in business, including Thomas Donohue, president and CEO of the U.S. Chamber of Commerce; Kat Cole, group president of Focus Brands; and Allan Golston, president of U.S. Programs for the Bill and Melinda Gates Foundation.

4 Keys to DREAM BIG Small Business Success

DREAM BIG entrants were judged on four main criteria considered necessary to running a successful small business. These requirements enable companies to grow sustainably and “ultimately have a competitive edge over other companies,” according to Pamela Herrmann and Patty Dominguez, co-founders of CREATE Buzz,  an online training experience that assists business owners and their employees with developing customer engagement skills.

It’s imperative that small-business owners understand and have a good handle on strategic planning, because that provides the tracks to run on, which with focused activity ensures that the company meets business objectives.

—Pamela Herrmann and Patty Dominguez, co-founders, CREATE Buzz

Here are the four elements required of the DREAM BIG-winning company and why these attributes are considered critical to the success of any business.

Strategic Planning

Having a clear business plan that outlines strategies and goals is one of those elements deemed a necessity by DREAM BIG. With planning, a company has a clear map that leads to success, believe Herrmann and Dominguez. “It’s imperative that small-business owners understand and have a good handle on strategic planning, because that provides the tracks to run on, which with focused activity ensures that the company meets business objectives.”

Creating a business plan is one of the integral steps a business can take to be successful, agrees Brett King, senior vice president of investments for Elite Financial Associates. “This plan includes how the business will be funded, which products or services will be offered and why consumers will want or need them, clearly defined responsibilities of the owner(s) and any employees and how future growth plans will be implemented.”

Focus on Employee Development

Staff training and a focus on motivating employees may be helpful in the continued success of any company. “Employee development is something that you must pay very special attention to in order to create an environment for employees to grow and thrive, which is critical to your business’s growth and success,” say Herrmann and Dominguez. “Investing in your people allows for your organization to become a go-to company for prospective employees. The additional benefit is the fact that as employee morale goes up, productivity also increases.”

The success and growth of any business largely depends on it’s employees, adds King. “Business owners can only do so much by themselves, so it’s critical that they hire the right personnel, train and develop their skills properly and provide incentives for employees to grow alongside the business. Happy, incentivized employees are far more productive and much more likely to remain with their employer longer. Having to constantly hire and train replacement workers is costly and unproductive for any small business.”

Customer Service

Customer-focused activities are essential to extending a lifetime value to your customers, believe Herrmann and Dominguez. “Developing a focus on customer experience insures not only that the experience is consistent, but it also leads to a heightened experience for the customer. The long-lasting effects of good customer experience create referrals and sustainable growth.”

If there’s one area that can set a business apart from it’s competitors, providing a great customer experience is it, notes King. “The best and least expensive type of advertising is clearly referrals from satisfied customers. Repeat customers are very likely to tell their friends, neighbors and co-workers why they should be supporting that business as well. Providing over-the-top customer service will free up business capital for growth rather than having to use those dollars for marketing or hiring other employee’s in the hopes they provide better service than current ones.”

Community Involvement

Giving back to the community is another positive for any small business that can show appreciation and support to the very people that have made the business a success.

“Community involvement shows that a company cares and is there for the long-haul, intending to remain a positive influence in the community,” say Herrmann and Dominguez. “There’s a level of emotional payback with community service that you can’t necessarily measure for a small business, but the positive consequences help lead to long-term success and improved companywide morale.”

If you’re interested in being considered for next year’s DREAM BIG Small Business of the Year Award, you can apply directly or be nominated. Consult with the U.S. Chamber of Commerce for more details. Nominations are due in January.

Read more articles on leadership.

Photo: iStock

6 Apps for Tracking Business Expenses

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6 Apps for Tracking Business Expenses
Hate paperwork? One of these apps might be the answer to your accounting problems.

Writer/Author/Publisher/Speaker, Garden Guides Press

JUNE 15, 2016When your workdays are jam-packed, it can be easy for you and your employees to procrastinate the vital task of tracking expenses.

Tracking expenses is essential for several reasons, says financial advisor Eric Tyson

, co-author of Small Business for Dummies

. “First, you need to know how your business is doing, and tracking revenues, expenses, profitability, cash, debts, etc. helps you keep a handle on the financial pulse of your business. Second, you’ll need documentation of your expenses and other financials to enable you to prepare an accurate tax return. And third, if you’re audited by the IRS or state tax authorities, you may need the expense documentation to show them.”

Fortunately, in today’s app-driven market, there are a number of good mobile programs that can help you easily and quickly track expenses and receipts with your smartphone. Such apps are also an expedient way to get timely expense reports from your employees.

For budget-conscious business owners, the good news is, many of the apps are either free, free with an option to upgrade, or cost just a few dollars. Below are six expense-tracking apps:

1. BizXpenseTracker

Developed with small-business owners and consultants in mind, this app is quite comprehensive. In addition to tracking expenses and mileage, it also allows you to record time worked. You can customize categories and sub-categories, and it generates expense reports. The templates in the app provide the information required by your accountant.

2. Concur Mobile

Designed for small businesses whose employees travel frequently, this free app, available for both iPhone and Android users, allows for fast creation of detailed expense reports. You can track travel expenses and approve travel spending for employees, as well as book hotels and flights. The app can also link up with credit cards and import charges automatically.

3. Expensify

This free app enables you to keep track of business expenses, mileage and billable time. It offers receipt capture and can be synced with your credit cards so that expenses can be pulled in automatically. You can also use this app to scan receipts and create an expense report. It also allows for multiple expense reports that can be converted to PDF files. Mileage expenses can also be recorded.

Recording what you spend may be critical to success because it can directly impact your bottom line.

4. Mileage Log+

If getting accurate and timely mileage logs from your employees so you can reimburse them is always a struggle, this app may help. Created strictly for tracking gas mileage, the app has a mileage log and IRS rates for reimbursement. The app can store frequent trips, so a simple tap inputs that mileage. Expense reports are easy to share.

5. Shoeboxed

This expense-tracking app lets you capture receipts and file them for reimbursement or as a deductible. Or, if you’re pressed for time, you can mail or ship an envelope full of receipts to the company and they’ll input the receipts for you, then send you an itemized list of your expenses in a digital file. The app works with both iPhone and Android phones and is free with a membership option.

6. Smart Receipts

Available for your Android device, this open source app scans receipts via phone and generates expense reports that you can email to yourself as a PDF or CSV file. PDF reports are tabulated, making them easy to read and appropriate for sharing. There are both free and paid versions.

One last note: While not every expense tracker caters to both Apple iOS and Google Android, choosing one that caters to both may help make expense-tracking even easier.

Read more articles on digital tools.

A version of this article was originally published on June 16, 2014.

Photo: Getty Images

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Grow Bee Balm in Your Summer Garden

Light up your summer garden and keep the bees, butterflies and hummingbirds happy by planting bee balm. This aptly named perennial comes in pink, red and white flower colors. The plant blooms throughout the warm season, offering its nectar up to winged visitors all summer long.

Depending on the variety, bee balm grows 2 to 4 feet tall. Some varieties thrive in wet soil, while others do well in average garden soil.

Also known as horsemint, wild bergamot and Oswego tea, bee balm makes a refreshing minty beverage. Add the fresh flowers to fruit or green salads or use as a garnish on cakes. Dried leaves and flowers can also be used in potpourri and sachets.

To have luck growing bee balm in your summer garden, keep the following growing tips in mind.

Plant in full sun. Bee balm flowers the most profusely if the plant gets a lot of bright light. To preserve flowers in the south, southwest or west, plant in an area that gets some afternoon shade. Space plants 18 to 24 inches apart.

Amend the soil. Prior to planting, add compost and a well-balanced organic fertilizer designed for blooming plants to the soil. Bee balm requires soil conditions on the acidic side, with a pH of 6-6.7, so if you live in an area with alkaline soil, such as the west, amend with soil sulfur to lower the pH.

Water regularly. Bee balm will tolerate drought, but does best if you keep the soil moist, but not soggy. Water when the top one to two inches of soil has dried out. For varieties that thrive in wet soil, make sure to keep the plant constantly moist. Conserve moisture and discourage weeds by mulching with a 2-inch layer of shredded bark.

A bumblebee on a bee balm blossom. (Julia Freeman-Woolpert/FreeImages.com)

Prune plants two or three times during the growing season to keep them growing bushy and full. In the late fall, cut bee balm back to within 5 to 6 inches from the ground. New growth will appear the following spring. Every three to four years, dig up the plants and divide them in the late winter or early spring.

Harvest and Storage. Cut bee balm flowers in the morning after the dew has dried and before the sun heats them up. The blooms last several days in water, or dry the flowers by hanging them upside down in a cool, dry place out of direct sunlight. Pick flowers for drying before they open.

Watch for powdery mildew. To avoid this fungal disease, plant in an area that receives good air circulation and don’t overhead water. Help prevent the condition from continuing from year to year by cleaning up the planting bed in the fall. Remove any fallen foliage, stems or old mulch.

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as Organic Gardening, The American Gardener, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower Gardening, Fairy GardeningThe Strawberry Story Series, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

HOW YOU CAN NETWORK EFFECTIVELY AT THIS YEAR’S SMALL BUSINESS EXPO

Taking place this week in New York, the Small Business Expo event offers a wide variety of networking and learning opportunities.

Writer/Author/Publisher/Speaker, Garden Guides Press

 

JUNE 09, 2016  Small-business owners are aware that who and what you know can equal success. At the Small Business Expo in New York on June 9, 10,000 registrants will have the opportunity to attend seminars by industry experts and network with peers. The free, one-day business-to-business expo’s mission is to help SMBs achieve success.

“To be successful, it’s critical that small-business owners have venues, such as this expo, where they can learn and exchange ideas,” says Jackie Dryden, chief purpose architect at Savage Brands. “Peer-to-peer interaction is incredibly valuable. It can build skills, connections and confidence.”There are 14 Small Business Expos held throughout the country in major cities; Minneapolis and Seattle are the next stops. Savage attended the Expo in Houston. “I found the networking to be incredibly valuable,” she says. “I made connections that have proved mutually beneficial for years after the event.”

For the networking alone, the Small Business Expo is a “must,” says Alaina Levine, president of Quantum Success Solutions and author of Networking for Nerds. “The Expo provides a unique and unmatched chance for entrepreneurs to unlock new opportunities for business. Not only do you gain insight and advice about practical and critical issues that can propel your business forward, you also interact and network with leaders and potential collaborators who have access to game-changing business and career opportunities.”

Insights From Industry Experts

When you’re trying to grow your business, there can be a great deal of value in learning from successful business owners, instead of trying to reinvent the proverbial wheel, believes Patrick Stroh, president of Mercury Business Advisors. “With a forum like the Expo, you can quickly get a pulse on the market and obtain a plethora of ideas for your own business. While you’re focused on growth and innovation, which is a commotheme at the workshops being held at the Expo, [you can also] leverage and learn from what others are doing in their businesses.”

Networking is about crafting win-win partnerships that provide value to both parties in myriad ways over time.

—Alaina Levine, president, Quantum Success Solutions

According to Levine, this year’s Expo agenda is diversified, providing information and guidance about many aspects of growing a small business. “Whether you want to improve your web traffic, hone your public speaking—and pitching—skills, or learn how to franchise your company, the Expo has something for small-business leaders who are in any phase of their career and business development,” she says. “I especially appreciate that there will be sessions on regulatory, legal and fundraising issues. These are often topics that don’t get discussed as much as they should in entrepreneurial forums.”

Ways to Tackle This Year’s Small Business Expo

In order to get the most out of the Small Business Expo, you may be able to optimize your time there by trying the following:

  • Take advantage of networking events. “Remember that networking is not about ‘getting’ something from someone or mining someone’s brain for a job, a lead or a sale,” says Levine. “Networking is about crafting win-win partnerships that provide value to both parties in myriad ways over time.”
  • Be an early (and friendly) bird. “Arrive early to talks and sit down near someone you don’t know,” advises Levine. “This is a great opportunity to network, especially for introverts, because there is a reason to speak with the other person. After you sit, introduce yourself, then reference the speaker and his or her subject as a way to get the conversation started. When the speaker begins, whisper, ‘It was great to meet you. May I have your business card?’ ”
  • Leverage the exhibit hall. Rather than wandering around aimlessly, consider using the exhibit hall experience as a time to learn and make connections. Ahead of time, examine the list of exhibitors and prioritize the ones you want to visit.
  • Don’t eat alone. Instead of spending your lunch hour reading email, you may want to “take advantage of the networking gold all around you,” suggests Levine. “If you see someone eating alone, ask if you can join the person. Chances are you’ll be invited to sit, and the fact that you’re both attending the Expo gives you something to talk about.”
  • Use social media before, during and even after the conference. “Many last-minute changes to conferences programs (as well as supplementary events and activities) are promoted only via the conference app or on social media, in particular Twitter,” says Levine. “You’ll get useful insight that may not be shared anywhere else and will discover who the trendsetters and leaders in the community are. Retweet these individuals’ tweets to help establish and amplify your brand, and use social media to contact your newfound colleagues after the conference.”

For more insights on getting the most out of networking opportunities, access the exclusive guide, Networking That Works: Connect Your Way to Business Growth.

Read more articles on networking.

Photo: iStock

Feed the Birds in Your Summer Garden

Wild backyard birds live demanding lives. During the warm months of the year, they perform a variety of tasks critical to their survival, all while recovering from the fatigue and stress of their long migration north.

“Birds are constantly on the move,” says Elaine Cole, president and owner of Cole’s Wild Bird Products Co. “ A lot of energy is spent defending a territory, selecting a mate, and then hatching and raising the chicks before it’s time to migrate again. Just like for people, convenient food can be a life saver for birds. Less energy spent hunting means more energy for raising healthy babies.”

Bluebird (Cole’s Wild Bird Products)

What and how you feed the birds in your garden will determine if they stay to dine and thrive. But before your feathered friends show up in your yard, make sure your “accommodations are inviting,” says Cole. “Check that all baths and birdhouses are clean and in good repair. A quick rinsing with a mild bleach and warm water mixture or detergent gets rid of dirt, grime and mold.”

(Cole’s Wild Bird Products)

Also pay special attention to the menu in your yard. “By serving wild birds their favorite foods throughout the summer, you boost and build their stamina and reserves for the long winter ahead,” says Cole, who offers these feeding tips.

What to Feed Wild Birds

“Serve birds quick, easy food with the most nutrient/energy impact, such as suet kibbles, dried mealworms, raw peanuts, sunflower meats and fruit.”

Traditionally used for winter feeding, suet has come a long way and is not just for winter anymore, says Cole. “No-melt suet formulas make it the perfect protein for warm weather feeding, which is ideal for adult birds that bring their babies this nutritious food source as an easy, high energy meal.”

Mealworms are another nutritious bird food. “High in protein, fat and potassium, mealworms help birds maintain energy,” says Cole. “They’re favorites for species like bluebirds, flickers, woodpeckers, nuthatches, siskins and chickadees, and are a perfect food source for newborn nestlings. Handling live mealworms is probably not a welcome bird feeding experience, even for the most committed bird enthusiasts, which makes freeze-dried mealworms ideal. They have all of the nutritional benefits of fresh ones and are much easier to store and serve.”

(Cole’s Wild Bird Products)

For seed-loving birds, serve up a blend that contains nuts, sunflower meats and dried fruits like apple, blueberry and cherry.

Combine suet, mealworms and fruit, nuts and seeds, and you’ll have a complete mix that attracts a wide variety of seed-eating and non-seed eating birds like warblers, bluebirds, kinglets, flickers and robins, which are all birds you don’t typically see at a feeder, says Cole.

Kalos Photography (Cole’s Wild Bird Products)

Further ensure that the birds dine at your house by growing plants that attract them. Good choices include honeysuckle, sunflower, Virginia creeper, oak and dogwood trees, cardinal flower and Echinacea.

Consider Your Bird Feeder Location

If you aren’t getting a lot of birds to your backyard and are serving up quality food, the bird feeder location is most likely the culprit, says Cole. “If a bird doesn’t feel safe eating at your feeder, then it simply won’t eat there. Don’t put feeders in wide open spaces. Birds prefer feeders to be near a bush or tree line so they have a quick escape if a hawk or another predator swoops in.”

Attaching a tray to the bottom of your tubular feeder also increases the variety of birds that can come to your feeder by providing a spot for larger birds (cardinal, robins, etc.) to perch and eat. The perches on standard tubular feeders are not big enough to allow the larger birds to feed.

Once you’ve set your birds up, “have fun and enjoy the view,” says Cole. “Watching birds lowers your blood pressure and helps keep all of life’s pressures in perspective.”

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as Organic Gardening, The American Gardener, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower Gardening, Fairy GardeningThe Strawberry Story Series, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

SHOULD YOUR COMPANY CONSIDER ALTERNATIVE DOMAIN EXTENSIONS?

An increasing number of small-business owners are trying new domain extensions like .art. Learn how your company may benefit from additional URLs.

Writer/Author/Publisher/Speaker, Garden Guides Press
JUNE 02, 2016It used to be that there were only seven options when it came to top level domain names (TLD), or that part of the domain located to the right of the dot. (.com, .org, .net and .edu are the best known of the original TLDs.) But alternative domain extensions are quickly gaining in popularity.

Businesses can now select from many other options, with extensions such as .live, .reviews and .video, according to Bill Glenn, vice president of marketing for Rightside, a domain name registry. “New domain extensions are steadily increasing, and brands and marketers will soon see that these domains are a part of our online ecosystem.”

Companies such as Apple, Google and Dow Jones have embraced the use of new domain extensions. “The belief is that more descriptive and targeted URL extensions offer diverse benefits, such as better calls to action and enhanced branding,” says Glenn. “One of the newest domains is .family, which [was] announced just last month and has already been embraced by companies worldwide, including Amazon.”

Digital Identity Can Become More Multi-faceted

Ten years ago, a brand could rely on a single website to promote a product or message. “To carry their brand’s messages, today’s small businesses typically need a website, as well as profiles on third-party social platforms,” says Glenn. “The old approach of a single domain carrying your brand forward simply isn’t enough, especially given that these third-party platforms understandably put their brands first, like www.facebook.com/yourbrand. Brands that want a thoughtful, curated experience for their customers and audience need to take a creative approach and register complementary domains like www.yourbrand.live.”

Such complementary domains may help give businesses the ability to maintain more control over their brands and create a better experience for their customers. “Complementary domains simply means differentiating the URL through the TLD, while keeping the domain name itself static,” says Glenn. “The Los Angeles Times’ web properties are a good example of this strategy. They’ve split various pages into LATimes.video, LATimes.social and LATimes.news.”

Adopting New Domain Extensions Can Pay Off

With competition becoming stiffer when it comes to organic and even Pay Per Click (PPC) search results, it may pay to experiment with alternative domain extensions, believes Glenn. “Some of the most expensive Google keyword phrases are related to legal services. In March 2015, attorney Eric Block decided to forgo the PPC-heavy approach of his competitors and moved from EricBlockLaw.com to his current Jacksonville.Attorney domain. Within months, Eric saw huge gains in traffic and search rankings. Today, the site ranks as high as the first overall search result for keywords like ‘Jacksonville attorney.’ This is an example of how new domain extensions are a boon to search engine marketing efforts.”

Get a niche-specific domain name, and you can track specific branding campaigns. It’s also a good idea to buy new domain extensions with your company name, even if you don’t use them, because domain jacking is a serious issue.

—V. Michael Santoro, co-founder, Vaetas

There are a variety of reasons to buy new domain extensions such as .attorney or .accountant, believes V. Michael Santoro, co-founder with John S. Rizzo of InVidz, LLC and Vaetas, an online video marketing syndication network that helps users brand their businesses as an authority while generating organic leads from search engines.

“Get a niche-specific domain name, and you can track specific branding campaigns,” says Santoro. “It’s also a good idea to buy new domain extensions with your company name, even if you don’t use them, because domain jacking is a serious issue. A competitor can buy the available domain names using your business name and try to steal your traffic and leads by ranking the site for your business name in the search engines.”

For some companies, the push towards alternative domain extensions is purely economic, adds Jay York, senior digital marketing strategist for EMSI Public Relations. “Either the .com domain a company is interested in is in use or being ‘squatted,’ which could potentially cost thousands of dollars or more to retrieve. For other companies, the end extension is aesthetic,” says York. “Domains such as .co and .io are being used by developers, branders and designers to differentiate themselves from the standard .com extension and elevate their domain name.”

Other benefits of adopting domain extensions may include:

  • The ability to create shorter and easy-to-remember internet addresses
  • The opportunity to amplify brand awareness and make it easier for customers to access information about your company and its services
  • Creating second-level domains for peripheral services and products
  • Increased security against trademark abuse
  • Offers new possibilities for online marketing campaigns

A Tip to Help Benefit from Domain Extensions

In order to help get the most benefit from adopting domain extensions, Glenn advises ensuring that the domains are complementary and not complicated. “The proliferation of new TLDs gives businesses a novel way to strengthen their brand while streamlining the audience’s path to reach them,” says Glenn. “Complementary domains simply mean differentiating the URL through the TLD, while keeping the domain name itself static. This doesn’t mean you need to create a new microsite for every new domain, but you always want to re-direct the TLD to your website, which doesn’t penalize your SEO.”

Read more articles on websites.

Photo: iStock

Grow Echinacea in Your Spring Garden

When it comes to growing butterfly magnet wildflowers, the cream of the crop, so to speak, is the coneflower. Botanically known as Echinacea, this easy-to-grow perennial lights up the garden from late spring into early fall, all the while attracting a wide assortment of delicate winged beauties.

Purple coneflower (Echinacea purpurea) is one of the most common, although you’ll also find pink and even yellow coneflowers. The plants have daisy-like flower petals that surround a prickly cone-shaped seed head that butterflies and bees use as a landing pad when foraging. The plant is a perennial that goes dormant in the cold months and comes back in the spring.

This attractive wildflower grows up to 4 feet tall and 2 feet wide. It is heat and drought tolerant, making it the perfect choice for just about any garden situation.

(Scascha/FreeImages.com)

Coneflower Medicinal Uses

Originally discovered by the Northern Native Americans, Echinacea has been used for centuries as a medicinal plant that is said to boost the immune system and relieve cold and flu symptoms. Alternative health products using Echinacea are common. You’ll find Echinacea in a variety of forms, including pills, ointments, tinctures and extracts.

To have luck growing coneflower in your spring garden, keep the following cultivation tips in mind.

Locate in a full- to part-sun location with good air circulation. The sunnier the planting area, the more flowers the plant will produce and the more butterfly visitors you’ll have in your garden. (Butterflies require warm conditions in order to fly.)

Plant in well-draining soil. Though coneflowers are easy to grow and will survive in a wide variety of soils, they are wildflowers and do best in a well-draining soil. If the planting area contains clay soil, amend with compost and perlite or pumice prior to planting.

(Julie Bawden-Davis)

Water regularly. Echinacea grows best when given consistent moisture, but they will tolerate drought, as they have deep taproots that allow them to store water when things are dry. Water when the top inch of soil has dried out.

Feed occasionally. Like many wildflowers, Echinacea aren’t heavy feeders. Fertilize once in the spring when the plant comes out of dormancy and again midsummer with an all-purpose, organic fertilizer, such as a 10-15-15.

Cut and enjoy flowers. Coneflowers make a striking addition to any floral arrangement. They last a long time in water, or you can preserve them indefinitely by drying. Hang the flowers upside down by the stem in a cool, dry location until they are completely moisture-free.

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as Organic Gardening, The American Gardener, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower Gardening, Fairy GardeningThe Strawberry Story Series, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

Grow Blackeyed Susan in Your Spring Garden

The aptly named blackeyed Susan is an easy-to-grow perennial that lights up the garden for months at a time. The daisy-like flowers feature dark purple or black centers that make a striking contrast with the bright yellow petals. Blackeyed Susan is a member of the sunflower family, which it also resembles.

Botanically known as Rudbeckia hirta, these carefree plants are versatile, growing in borders, fields and even in containers. They make long-lasting cut flowers and attract a wide variety of wildlife, including butterflies, bees and hummingbirds. Their blooming period is long, generally lasting from late May through October.

Now is the perfect time to plant blackeyed Susan. Keep the following growing tips in mind.

Plant in full sun. Blackeyed Susan grows best in a full sun location, although it will flower in partial sun. The plant does best in a rich, well-draining soil but can tolerate less than ideal soil conditions. The richer the soil the more likely the plant will re-seed and produce new plants.

(Freeimages.com/Gillian Townsend)

Provide sufficient growing space. When determining the ideal spacing for blackeyed Susan, consider that the plant grows 1 to 3 feet tall or more and spreads 12 to 18 inches.

Water regularly. Blackeyed Susan can tolerate some dry conditions but does best if you keep the soil moist, but not soggy. Water when the top two inches of soil has dried out.

Prune often. Deadhead faded flowers, which will initiate re-blooming. This also prevents the plant from reseeding, if this is something you want to discourage.

(Freeimages.com/Mike Thorn)

Divide periodically. Every three to four years, invigorate the planting bed by digging up and dividing the plants in the early spring. Cut each plant into two or three sections and replant.

Fertilize occasionally. Blackeyed Susans aren’t heavy feeders. Apply an organic, well-balanced fertilizer once in late spring and again in midsummer.

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as Organic Gardening, The American Gardener, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower Gardening, Fairy GardeningThe Strawberry Story Series, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

HOW TO HELP DETERMINE A FAIR EMPLOYEE WAGE

Finding the sweet spot of paying employees fairly while also meeting your bottom line can be tricky.

Writer/Author/Publisher/Speaker, Garden Guides Press
MAY 20, 2016Money may not necessarily make for happy employees, but as campaigns across the nation to raise the minimum wage may have indicated, the size of employee paychecks can be a major predictor of job satisfaction. Offering a salary that employees find competitive may allow you to attract and retain the best talent.

It makes sense that employees expect to be paid what they consider is fair. It’s often a challenge as a small-business owner to determine a fair wage so your employees feel well compensated, advises Jessie Seaman, a licensed tax professional and attorney at Tax Defense Network. “Determining competitive pay requires that you develop and follow a strategy,” she says.

Check Out the Competition

Start salary determination by doing comparisons of similar jobs in your geographic area, advises Tom Panaggio, author of The Risk Advantage: Embracing the Entrepreneur’s Unexpected Edge and co-founder of two direct marketing companies.

Give performance raises, and pay salespeople as much money as they can possibly earn, even if it means they make more than top-line managers. I had a couple of salespeople who made more than me, the CEO.—Tom Panaggio, marketing consultant and entrepreneur

“It doesn’t have to be a scientific study or involve a great deal of research,” he says. “Survey temporary services, employment agencies and want ads to get a sense of what others in your local marketplace are paying. You can then offer lower level employees the same pay rate, and for higher level employees, use market comparisons as a starting point for salary negotiations.”

Such research is something employees may do themselves during a job search, so having your facts straight can help. Ideally, you want to avoid being asked during an interview why you’re offering less than the going rate.

Make It Incremental

The hiring and training process can be lengthy and costly for a company, with much expense on the front end and very little revenue generation from new employees, Seaman notes. “Considering the cost of hiring, it can be best to focus on retention. One effective way to keep new employees invested in your company is to start them off at the low-end of the pay scale, but give increases after 90 days, six months and nine months.”

Offering raises over time helps you determine how much an employee is worth to your company. “The incremental increases in pay during the first year will drive employees to ‘prove’ themselves and give their best effort all year long,” Seaman says. “In this environment, employees will want to show you that they are an asset to your company, and you in turn increase their wages based on their proven value.”

Reward Productivity

Panaggio advises focusing on what employees produce when determining wages rather than seniority. “Don’t give raises just because someone has worked for you a long time,” he says. “Instead, give performance raises, and pay salespeople as much money as they can possibly earn, even if it means they make more than top-line managers. I had a couple of salespeople who made more than me, the CEO. And don’t ever cut commissions because salespeople are making too much.”

While many employees tend to focus on fair pay across the board, Panaggio finds it helps to explain to employees that some positions in your company have wage ceilings, and the only way to earn more is take on more responsibility and progress within the company.

Watch Your Bottom Line

“Balancing wage levels with the financial health of your company is a delicate balancing act,” says Panaggio. “It can become a ‘chicken or the egg’ predicament. If the financial health of your company is suspect, then it may require you to pay more than market for better employees with the idea that maybe your financial problems are the result of poor execution by less than capable employees. And you have less than capable employees because you didn’t attract better ones due to your wage scale.”

Whatever you decide to pay your employees, keep in mind that you may not want to compensate them more than the job is worth to you. Salaries are business expenses, after all. They’re investments that should offer you good returns. Before offering someone employment and a salary or offering an existing employee a raise, it might pay to determine your absolute salary ceiling by analyzing the potential value that person can bring to your company.

Think Beyond Salary

The work environment often plays a big factor in employee contentment, Panaggio believes.

“Wages are certainly a component to a happy workforce, but not the only factor,” he says. “Create a positive work environment with employees who are informed by management about the state of the company, and they will be much more accommodating and accepting when wages have to be reduced during tough times. When times are good, give back to employees in the form of bonuses and incentives.”

Also remember that being a small business can be an advantage. “You will likely attract potential employees looking for something beyond the corporate structure,” Seaman says. “Offering something as simple as a special title can go a long way toward making a would-be or current staff member happy.”

Read more articles about hiring & HR.

This article was originally published on May 21, 2015.

Photo: iStock

Grow ‘Meatball’ Eggplant in Your Spring Garden

Last summer, I had the opportunity to attend Burpee Fest 2015. While the fun and educational event featured touring Burpee’s historic Fordhook Farm and meeting other garden communicators, one of the absolute highlights of the trip was sampling a dish made with their all new ‘Meatball’ eggplant.

It turns out that ‘Meatball’ isn’t just an enticing name, but actually lives up to its reputation. The unique eggplant allows you to make vegetarian dishes that really do taste like real meat.

“ ‘Meatball’ is so named, because it’s a medium, globe- or ball-shaped fruit that possesses quintessentially ‘meaty’ flesh,” says George Ball, who heads Pennsylvania-based W. Atlee Burpee Company. “You can use this eggplant to prepare any dish that involves meat, as well as actual meatballs. It makes the best hamburger in the world. Not a day goes by that I don’t dream about my first eggplant ‘Meatball’ hamburger, which we have affectionately named The Burpee Burger.”

To Ball, the flavor of ‘Meatball’ is superior to real meat. “I don’t have fat filling my mouth, and there is nothing ‘dead’ about it,” he says. “In the hands of merely a good cook (nothing fancy needed) ‘Meatball’ can produce a veritable steak house platter.”

‘Meatball’ Eggplant (Burpee)

All New Eggplant

‘Meatball’ overcomes three common complaints about eggplant, which are seeds with a bitter aftertaste, excess water in the fruit and flesh that browns quickly when exposed to air. Burpee has searched for an eggplant variety without these attributes that could serve as a viable meat substitute for 20 years.

“The qualities that raise ‘Meatball’ to the highest level I have ever known of eggplants are the extraordinary succulence and creaminess of its flesh, resulting in a heavy, meaty fruit, and its sweetness, which is due to its relative seedless-ness,” says Ball, who has tested every eggplant imaginable.

‘Meatball’ was discovered in one of Burpee’s partner’s fields. “We tested it at Fordhook Farm for the past three years,” says Ball. “It’s so unlike a normal Turkish eggplant that one of our gardeners tried eating it raw and found that it has a faintly sweet taste. This is entirely different from a normal eggplant, which is not appetizing at all uncooked.”

In addition to its meaty flavor, Ball was thrilled to finally find an eggplant that would appeal to gardeners. “We’ve been trying to increase the gardening of eggplants by American vegetable gardeners for many years,” he says. “Personally, I launched ‘Purple Blush,’ as well as ‘Purple Rain’ back in the early 90s. I made a ceviche with ‘Purple Blush’ that stumped Martha Stewart. She never figured out what it was she was eating when I prepared it during her first visit to my farm. However, 25 years later, people still have a hard time preparing as well as eating eggplants in general, that the market for eggplant seeds and plants has been very small, until ‘Meatball.’”

Since its introduction this season, ‘Meatball’ has become quite popular. Burpee offers seeds for the eggplant, as well as plants. For short-season climates and first-time eggplant growers, plants are your best bet this year. You’ll have fully ripe ‘Meatball’ eggplants two months after planting transplants.

‘Meatball’ Meatballs (Burpee)

Eggplant Planting Advice

Eggplants are among the easiest of veggie plants to grow. Once you receive your plants, wait three to four days for them to acclimate to outdoor conditions. Then transplant in the ground, a raised bed or a container in a full-sun, warm location. If growing more than one eggplant, space them 24 to 36 inches apart. Provide support and encourage airflow by staking or caging the plant.

Keep eggplant watered with 1 to 2 inches of water during the growing season. Avoid overwatering. Feed with a well-balanced, organic fertilizer when flowers first appear and again when fruiting occurs.

When cooking with ‘Meatball’ eggplant, use spices, including garlic salt, and sautéed onions, advises Ball. “This variety has none of the problems of normal eggplant, so it’s not necessary to soak the flesh or extract water with salting,” he says. “This is a completely new eggplant.”

Here is Burpee’s recipe for the ‘Meatball’ burger. The website has additional recipes for using your eggplant harvest.

The Burpee Burger

Ingredients

2 large eggs

1 cup unseasoned breadcrumbs

1/2 cup loosely packed Italian parsley

1 clove garlic

2 tablespoons extra-virgin olive oil

2 medium-sized Burpee ‘Meatball’ eggplants

Salt and pepper to taste

Directions

  1. Mix first two ingredients in a bowl; set aside.
  2. Mince parsley leaves and garlic clove. Add the olive oil and combine with egg and breadcrumb mixture.
  3. Peel ‘Meatball’ eggplants and grate them with the largest holes of a hand grater on a paper towel to absorb excess moisture. Add the eggplant to the mixture. Last, season with salt and pepper. You will have a soft mixture. If it is too watery, add a tablespoon of all-purpose flour.
  4. Form the mixture into patties and cook in a heavy pan in a small amount of cooking oil. (Due to the soft texture of the mixture, you will not be able to cook this veggie burger on a grill.)
  5. Cook some thick slices of white onion at the same time, in the same pan.
  6. Serve with cooked sliced onion, fresh-sliced tomato and freshly-picked lettuce leaves.

Serves 4-5.

‘Meatball’ Burger (Burpee)

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as Organic Gardening, The American Gardener, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower Gardening, Fairy GardeningThe Strawberry Story Series, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

WHY IT’S IMPORTANT TO AVOID COMMON WORKPLACE INJURIES

A recent study found that small businesses are among the most likely to experience common workplace injuries. Learn how to help reduce your company’s risk.

Writer/Author/Publisher/Speaker, Garden Guides Press
MAY 19, 2016When you analyze what could threaten the bottom line of your small business, you may want to factor in common workplace injuries. A recently released study by Travelers Risk Control, which analyzed 1.5 million workers’ compensation claims over a five-year period, found that small- and mid-sized businesses represent 60 percent of total claims.

Workplace injuries can be a serious threat to small businesses, both financially and in terms of morale, believes Woody Dwyer, second vice president of workers’ compensation for Travelers Risk Control. “Roughly three million workers are injured per year in U.S. private businesses, and the rate of injuries and illnesses remains highest among small and mid-sized establishments.”

According to the study, the most common injuries at small businesses are strains/sprains and cuts/punctures, with materials handling being the single most common accident. “The average cost per claim for strains/sprains is $17,000 and $8,200 for cuts/punctures,” says Dwyer, who notes that small businesses suffer the highest percentage of accidents involving tools. “The costliest injury is dislocation at $97,100.”

Common Workplace Injuries Threaten the Bottom Line

The costs of common workplace injuries to a small business are three-pronged. There are the medical costs associated with the injuries, as well as workers’ compensation claims and potentially having to pay higher premiums as a result. Beyond that are the often significant costs associated with loss of manpower.

“For small-business owners, one severe injury can have a detrimental effect on what is most likely a small employee pool,” says Dwyer. “If a key employee is unable to work, it may be difficult, if not impossible, to find a replacement. The average days lost to a strain or sprain is 57. Almost two months is a long time to have a key employee out of commission.”

When it comes to spine injuries, the costs can be steep for a small business, notes Kamshad Raiszadeh, orthopedic surgeon and co-founder of SpineZone Medical Fitness, Inc. “With simple sprain/strain injuries costing approximately $17,000, and more serious injuries to the spine costing hundreds of thousands of dollars, spine injuries can significantly impact a small business,” says Raiszadeh. “Such injuries are also a major cause of lost workdays. For small businesses that don’t have a lot of redundancy, this can significantly impact their workflow and finances.”

Injuries can also put other employees at risk, believes Dwyer. “When you are short an employee, it will inevitably affect other workers. For instance, if you have two electricians on staff and one is injured, the other employee will have to pick up the slack by working longer days and weeks, which puts that employee at risk. People sometimes underestimate fatigue, which can lead to dangerous situations for some employees.”

For small-business owners, one severe injury can have a detrimental effect on what is most likely a small employee pool. If a key employee is unable to work, it may be difficult, if not impossible, to find a replacement.

—Woody Dwyer, second vice president of workers’ compensation, Travelers Risk Control

Raiszadeh agrees. “Spine injuries also have a strong psychological component,” he says. “When a co-worker sustains a spinal injury, it can affect morale by striking fear in other employees regarding the potential of them also being injured.”

Preventing Common Workplace Injuries

One of the reasons that small businesses have a higher proportion of injuries may be related to the fact that they often don’t have an environmental health and safety professional on staff, according to Dwyer. “Because the business owner has a small staff, injuries may not be top of the mind, but they really should be.”

Brian Greenberg, co-owner of TouchFreeConcepts.com, agrees that it’s impossible to predict whether you’ll have illnesses or injuries at your company. “If you are a food service company, for instance, you aren’t immune to bacterium-borne illness affecting your products at any time, especially if appropriate precautions are not in place to vastly mitigate the risk. In today’s rapid fire Internet culture where even one slight mishap or moment of carelessness can go global in minutes, coupled with the litigious nature of modern society in general, doing your utmost to ensure the health and well-being of any person visiting or working at your business site is not discretionary—it’s mission critical.”

Safeguarding your employees and your business with a predetermined protocol aimed at preventing injuries and illness may be beneficial to reducing the risk of common workplace injuries at your company.

Know your exposures. You may want to look at the most common workplace injuries—and even less common ones—to analyze your risks. “If you have a meat grinder, considering that cuts are at the top of the list when it comes to employee injuries, examine your risks and the practices you have in place regarding employee safety,” says Dwyer. “Ensure that all of the safety protocol is followed without exceptions.”

Along the same lines, you may want to look for exposure in material handling that occurs within your place of business. The handling of material is the single most common accident cause among all small business claims, according to the Travelers study. “It’s important to recognize that moving materials within a business causes a significant amount of injuries,” says Dwyer. “This allows you to develop training programs to prevent such injuries.”

Train to reduce risk. A tailored training program for your business that addresses potential risks may be a good way to prevent injuries. Such a program could include very clear protocol for how to deal with safety practices in situations particular to your company.

When training new employees, keep in mind that 28 percent of injuries occur in the first year of employment, adds Dwyer. “Keep in mind that training is different than orientation,” he says. “Orientation is pointing out where the bathrooms and emergency exits are, while safety training is more in-depth. It refers to how to do a job properly and requires that you have trained staff demonstrate.”

Provide continuing education. You may want to consider keeping all employees up-to-date with the latest safety measures, advises Raiszadeh. “With an investment of time and education regarding spinal injuries and prevention strategies, for instance, a small-business owner can significantly minimize risk. Small-business owners can provide education regarding proper sitting techniques, including periodic breaks to stand and stretch and proper lifting techniques.”

Strive for positive employee morale. “Take steps to create a more relaxed work environment and you’ll have fewer injuries,” says Greenberg. “Calm and content employees are more likely to follow protocol, such as hygiene and cleaning procedures. Avoid the ‘tough it out’ mentality that encourages employees to come to work sick or push through fatigue, which only decreases productivity and puts other employees and customers at risk.”

Occupational safety goes much deeper than training and rule enforcement, believes Laura Putnam, author of Workplace Wellness That Works and CEO and founder of Motion Infusion, a well-being provider. “An organization we worked with experienced five safety-related fatalities in one year. All five workers were seasoned technicians who ‘knew better’ and yet had disregarded safety precautions at their own peril.”

Rather than blaming the employees, Putnam suggests looking at the overall culture of the work environment and the health and well-being of the employees, ensuring that they are truly “present” while at work. “A key factor is ‘perceived organizational support,’ or the extent to which employees feel that their employer authentically cares about them,” says Putnam. “When employees feel that their employer values them, this can have an enormous impact on issues like engagement, being present and safety.”

Dwyer agrees. “An engaged workforce is less likely to become injured. A Gallup study found that an engaged workforce has 48 percent fewer safety incidences.”

Read more articles on hiring & HR.

Photo: iStock

Grow Pretty Phlox in Your Spring Garden

If you want an eye-catching flowering plant in your garden that blooms for months at a time, plant phlox. This perky, long-lived perennial reliably lights up the summer garden. The plant’s flowers come in a wide range of colors, including white, red, pink, purple and coral. Many phlox are also fragrant, with the scent being strongest at night.

Phlox grows 2 to 4 feet tall and doesn’t require staking. The flowers attract butterflies and hummingbirds. When soil and location conditions are ideal, phlox will re-seed. To have luck growing phlox in your garden, keep the following growing tips in mind.

(Palmer W. Cook/Freeimages.com)

Provide full sun to part shade. Phlox do best with at least a half day of sun—with morning sun being best. Position them in a part of the garden where they receive bright light and good air circulation.

Plant in fertile soil. Phlox requires a rich soil that retains moisture yet drains well. Prior to planting, amend with homemade or bagged compost, including vermicompost. This will feed the soil and create airspace, which all plants require for healthy growth.

(Paul Kempin/Freeimages.com)

Water regularly. Keep phlox plants moist but not soggy. Water every two or three days in the absence of rainfall. Avoid splashing water on foliage, as this can lead to fungal problems. If you will be doing overhead watering, do so early in the day so the leaves have a chance to dry off.

Fertilize often. Phlox do well when given regular doses of organic fertilizer designed for flowering plants, such as a 10-20-20. Feed the plants monthly during the growing season. When planting, use a starter fertilizer for flowering plants.

(Drouu/Freeimages.com)

Trim periodically. After flowering, cut the phlox back by one-third, which will promote quicker re-flowering. If the plants are looking bedraggled in late winter, cut them back at that time as well.

Propagate. Phlox can be divided in autumn or early spring. Dig the plants from the soil, making sure to preserve the roots. Use a sharp knife to cut through the center of each plant and through the roots. Replant each half. Repeat this process every two to three years, which will lead to healthier plants.

Julie Bawden-Davis is a garden writer and master gardener, who since 1985 has written for publications such as Organic Gardening, The American Gardener, Wildflower, Better Homes and Gardens and The Los Angeles Times. She is the author of seven books, including Reader’s Digest Flower Gardening, Fairy GardeningThe Strawberry Story Series, and Indoor Gardening the Organic Way, and is the founder of HealthyHouseplants.com.

TECHCRUNCH DISRUPT: 4 LESSONS TO HELP YOU STAY AHEAD OF THE TRENDS

TechCrunch Disrupt—an annual conference where game-changing technologies are introduced—has a lot to teach small-business owners.

Writer/Author/Publisher/Speaker, Garden Guides Press

 

MAY 11, 2016

TechCrunch Disrupt is an annual event that introduces revolutionary technologies. Launched in 2011, this year’s conference took place in New York City from May 9 to May 11. At the conference, small-business owners get a bird’s eye view of up-and-coming technological products and services that have the potential for changing the marketplace.

“TechCrunch Disrupt gives small-business owners the opportunity to see firsthand the latest in tech and the future of technology,” says Blair Linville, CEO of Tectonic. “The event consists of an audience of influencers with whom you can share new business and technology ideas while observing trends that may go mainstream.”

Chris Furlong, co-founder and chief product officer of Ultra Mobile and Primo Connect, attended this year and exhibited Primo Connect at the event’s Startup Alley, where early-stage companies can display their wares and talent to attendees and press. “We’re looking forward to the additional exposure and having the chance to get direct feedback as we demonstrate our product,” he says. “As a small business, you can become internally focused on running the company, so it’s great to have events like this to check in with the latest developments, trends and emerging companies. What was current six months ago when we researched the market is already out of date, so we find such events invaluable and inspirational.”

Here are some insights from this year’s TechCrunch Disrupt that may help you stay ahead of the trends and improve your business.

Learn About Today’s Consumer

TechCrunch Disrupt can be relevant to targeting the needs of today’s consumer, notes Stacy Haitsuka, CTO and co-founder of TuneGO, a multi-platform music discovery network that connects independent artists with the music industry.

In a world of smartphones, smart cars and even smart houses, the Internet is no longer limited to your desktop computer. Your online profile follows you wherever you go.
—Stacy Haitsuka, CTO of TuneGO

“Disrupt’s gathering of the best and brightest entrepreneurs, investors, thought leaders and the introduction of the latest game-changing technologies provides small-business owners valuable insights into understanding the ever changing dynamics of their target market,” she says. “Millennials are the people your business has to keep up with and understand to be successful. This is where conferences like TechCrunch Disrupt become vital. Networking with entrepreneurs coming out with the newest technologies helps you understand the people who are going to buy your product.”

Understand the Role of Big Data

Data is among the most innovative and vital technology coming out of the conference, believes Linville. “New tools in data analytics that help companies gather [customer insights] to drive interaction to build their core audiences is what will have the most impact for small businesses,” says Linville, who has followed the conference’s live stream. “Data has been a major focus over the past five years and will continue to be an asset small businesses can analyze in order to understand trends. Every small business CEO and marketer should be excited to see what new data-driven technologies are introduced this year.”

Big data may be useful and here to stay, but it’s vital to balance its use with consumer privacy, believes Gary Miliefsky, CEO of SnoopWall, Inc., a breach prevention security company. At the conference, this issue was addressed when Nate Cardozo of Electronic Frontier Foundation and Marten Mickos of HackerOne presented “Needs of the Many: Finding a Balance Between Security and Privacy Through Technology.”

“There will always be a challenge in weighing ‘big data’ and cloud-based data collection against privacy needs—even though you’re attempting to make purchasing decisions easier for your customers,” says Miliefsky, who advises considering security protection a top priority.

Balance Online Advertising With Privacy

The issue of privacy can also be at odds with online advertising, notes Haitsuka. “In a world of smartphones, smart cars and even smart houses, the Internet is no longer limited to your desktop computer. Your online profile follows you wherever you go. As long as consumers are ‘connected,’ there are companies and various government agencies using Online Behavioral Advertising (OBA) to collect data to learn habits, trends and buying patterns. While OBA can be a powerful and useful tool that is proven to reach targeted customers and even market new products to existing customers, it presents privacy concerns. The key is transparency and permission and protection.”

Take Advantage of Live Streaming

As a means of marketing events and experiences, live streaming is becoming increasingly more popular. This TechCrunch Disrupt is the first major media conference to stream on Facebook Live.
“Serving a generation raised on internet-connected laptops, tablets, cellphones and other devices creates new challenges, as well as huge opportunities for small-business owners,” says Haitsuka. “In our industry, this is clearly evidenced as U.S. streaming music sales have surpassed the once dominant industry of CD sales. Music industry revenues grew this year for the first time since 1995, and live streaming is clearly taking off, so pay close attention to anything music and anything streaming.”
Read more articles on digital tools.
Photo: iStock

Talk of The Towne 5 Years at The Market

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When Megan Penn and other Orange residents gathered in May 2009 and hatched a plan to offer the community access to fresh food, this resulted in the Orange Home Grown Farmers & Artisans Market that opened two years later.

In addition to their goal of providing residents with locally grown and produced healthy foods, the founders of the farmer’s market also made it their mission to “cultivate community and inspire change through activities that foster education, awareness, advocacy and create benefits for the greater good,” says Penn, Executive Director of Orange Homegrown.

Today Orange Home Grown supports a variety of initiatives that fulfill their mission, including the all new seed lending library, which opened recently and gave away 350 seed packets in its first two weeks, an annual chicken coop tour, an upcoming education farm and scholarships.

Chicken Coop Tour

This event starts at the farmer’s market with a talk on raising chickens, followed by a self-guided tour to chicken coops in Orange.

Kristine Rohm is Director of Immanuel Lutheran Preschool and Kindergarten and began raising chickens at the school after taking the first tour in 2013. “My teacher and I were so inspired when we saw other coops that we felt confident we could raise chickens and they would benefit the students,” she says. “Being able to talk one-on-one with real chicken owners was the key to our success. Two years later, we were on the tour.”

Rohm enjoys having chickens at the school, because they teach young children about the natural world. “We have four chickens—Aurora, Buttercup, Cuddles and Dot,” she says. “The children can go into the chicken run daily to check for eggs, feed them or even pick one up if they can. Friday is Free Range Friday; the chickens get to roam freely in our play space, which is a treat for our preschoolers and the chickens.”

Rohm reports that she’s continually impressed by the work being done by Orange Home Grown. “The Farmers & Artisans Market is not just a top notch market—it also provides a wealth of education and resources for children and adults with talks, children’s programs and special events. The passion found at the market for local and healthy food brings awareness to our community of what used to be a normal way of life.”

Scholarships

To further their mission of spreading the word about sustainable living, Orange Home Grown also sponsors scholarships for aspiring college students planning on getting degrees in areas that focus on agriculture or helping the earth.

Anayeli Sarabia is a student and scholarship recipient, who also works at the farmers market selling produce from her aunt’s farm. “Being a recipient of the Orange Home Grown Scholarship was a great help with paying for my classes and buying books,” she says. “I am so grateful that there are people like the Orange Home Grown founders who think about others. When I received the scholarship, I was attending Riverside Community College. In the fall, I’ll be starting at Cal Poly Pomona for Agri-business and Food Industries Management.”

Dean Kim is owner and executive baker for OC Baking Company and an Orange resident. He is a vendor at the farmers market and comments on Orange Home Grown’s outreach. “Orange Home Grown is all about advancing Orange,” he says. “It’s a privilege to be affiliated with the organization.”

• The Orange Home Grown Chicken Coop Tour is Saturday June 25th from noon to 3 pm.

Orange Farmers and Artisans Market
304 North Cypress Street, Orange CA 92866 / 714-397-4699

Published in the May/Jun 2016 edition of the Old Towne Orange Plaza Review

Written by Julie Bawden-Davis, Photographs provided by Immanuel Lutheran Pre-School

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What You Need To Know About An IRA Investment

[vc_row][vc_column][vc_column_text]Saving for retirement helps ensure that your golden years are indeed golden. One of the best ways to stash cash for retirement is opening and funding an individual retirement account. Commonly known as an IRA, this savings vehicle offers you a relatively safe place to invest your nest egg.

What Is An IRA?

An IRA is a retirement account into which you deposit stocks, bonds, mutual funds and other assets. These assets are then allowed to grow on a tax deferred or tax free basis. Ideally, the investments in your IRA will grow in value over time accruing a substantial amount of money for your retirement years. You can open an IRA in addition to other types of retirement accounts, such as employer-sponsored 401(k)s.

Several types of IRA accounts exist, including traditional IRAs, Roth IRAs, SEP IRAs and SIMPLE IRAs. Traditional and Roth IRAs are personal retirement accounts that offer different tax advantages. The money deposited into a traditional IRA is not taxed at the time of deposit, but is taxed when you remove the money. Roth IRA deposits are taxed when you make the deposit, but you pay no taxes when you withdraw the money. SEP IRAs are for self-employed individuals and SIMPLE IRAs are designed for small employers to offer their employees.

How IRAs Work

You are eligible to open and contribute to a personal IRA if you or your spouse (if you filed jointly) received taxable income during the year, and you were not age 70 ½ by the end of the year. Allowable income for contribution purposes includes wages and salaries, commissions, self-employment income, alimony and nontaxable combat pay.

A variety of financial institutions offer IRAs, including banks, savings and loans institutions, credit unions, brokerage firms and mutual fund companies. When you open an IRA, you deposit a specified amount of money and choose from various investments. Most IRA providers offer a variety of investment opportunities, including stocks and bonds, mutual funds, money market funds and CDs. This allows you to take advantage of a diversified mix of investments, which is a safe practice with your retirement money.

Deposits and Withdrawals

You can currently deposit up to $5,000 per year if you are 50 and under and $6,000 per year from 50 until the age of 70 ½. There are income limits that determine how much you can contribute to a Roth IRA, but none exist for a traditional IRA. Single filers who make in excess of $125,000 per year and joint filers earning more than $183,000 per year may not contribute to a Roth IRA in 2012.

You can withdraw money from your traditional IRA at any time, but you will have to pay a 10 percent penalty on the money you withdraw if you are younger than 59 ½. You will also have pay income tax on the money you withdraw. After 59 ½, you can withdraw funds without paying a penalty, but you will still have to pay income tax on the amount withdrawn. You must start withdrawing minimum distributions from an IRA each year when you turn 70 ½.

You can withdraw money from a Roth IRA before the age of 59 ½ without penalty providing that you only withdraw from the deposits that you put into the account, not any earnings.  There are no minimum distribution requirements for Roth IRAs.

A few exceptions exist to the 10 percent penalty rule. You can withdraw money from an IRA without being penalized in order to pay for college expenses, medical expenses greater than 7.5 percent of your adjusted gross income, up to $10,000 for a first-time home purchase and costs arising because of a sudden disability. You can also avoid penalties if you withdraw the money to roll over into another type of retirement account, such as from a traditional IRA to a Roth IRA.

The Benefits Of An IRA

An IRA’s biggest benefit is that your investments in the account grow on a tax deferred or tax free basis. This allows your money to grow faster than if you had to pay taxes on it each year.

Additionally, the 10 percent penalty for early withdrawals also reduces your incentive to pull money out of your account. This helps to ensure that you will have sufficient funds on which to live when you retire.

It’s Not Free To Open And Maintain An IRA

Banks and other financial institutions have varying fee structures for IRAs so it’s a good idea to shop around. Some companies charge an annual account maintenance fee of $25 to $30, while others do not. There are also commission fees, which can range from as little as $7 to over $40.

Tax Planning

You can open an IRA at any time of the year, but the money must be filed by the tax filing due date. If you deposit money into an IRA after the due date, it will be considered a contribution for the following year’s taxes.

Now that you understand the benefits and basics of opening an IRA, you can make informed choices that are likely to help you enjoy full, vibrant retirement years.

Sources

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Should You Buy A Certificate Of Deposit From Your Bank?

[vc_row][vc_column][vc_column_text]A certificate of deposit (CD) is a low-risk savings product that requires investing a fixed amount of money for a predetermined time period. In return for locking your money into the account for a set term — from a few months to several years — the bank pays you a higher interest rate than you would earn from a standard savings account. Interest is added to the account on a periodic basis throughout the CD’s term.

What Is A CD?

When you purchase a CD, you invest a fixed amount of money for a specified period of time. The most common duration is between three months and five years. Generally, the longer the CD’s term, the higher the interest rate you receive on your money. While you can withdraw the money before the set term finishes, you pay a substantial early withdrawal penalty if you do so. When the CD matures, you receive the original amount you deposited plus accrued interest. At maturity, you can cash the CD in, let it automatically renew into the same length of term or roll it over into another term.

There are generally no fees to open a CD account. Minimum deposit requirements do exist and vary between financial institutions. Five-hundred dollars is often the lowest minimum you’ll find. Accounts requiring higher minimums often pay better interest rates.

Types of CDs

Fixed Rate: Often referred to as a traditional CD, this account offers you an interest rate that stays constant throughout the term.

Variable Rate: Interest rates vary with this type of account, rising and falling according to variable rate indices.

Bump Up: If interest rates rise during the term of your CD, you can inform the bank that you want to “bump up” to the higher interest rate for the remainder of the term. Generally, the bump-up feature is only allowed once a term and bump up CDs usually start at a lower interest rate than fixed rate CDs.

Liquid: With this account, you can withdraw part of your deposit without paying a penalty. The trade-off for being able to pull out money is that the interest rate is usually lower than a traditional CD.

Investment Benefits

CDs are one of the safest investments you can make. At the end of the term with a fixed rate CD, you get back what you deposited plus a guaranteed amount of interest. Your investment is also protected if the bank where your CD is held fails because CDs are insured by the FDIC for up to $250,000 per account.

Fixed rate CDs also offer you a stable interest rate for a specified period of time. If interest rates fall during the term of your fixed rate CD, you continue to enjoy the higher interest rate locked in when you opened the account.

Investment Risks

Any financial investment involves some risk. With fixed rate CDs, there are potential opportunity costs. You risk the interest rates rising above the fixed rate and losing out on the earnings you could have received if you had invested your money elsewhere. Variable rate CDs also pose a risk, as you have no control over the prevailing interest rate.

Investment Strategy

Determining the length of time to open a CD depends on how long you want your money tied up and whether the interest rates are likely to go up or down. Fixed rate short-term CDs are often best when rates are on the rise, as they can be renewed at a higher rate. When interest rates look like they will be falling, it’s best to purchase a long-term fixed rate CD, as an account with a locked-in rate will earn a higher return over the long run.

Timing is especially important for success with bump-up CDs. Since these accounts start at a lower interest rate than standard CDs, it’s important that interest rates rise and make a bump-up possible.

Take advantage of timing by laddering, which involves staggering CD investments so that you open accounts with varied maturity dates and term lengths. For instance, instead of opening one 5-year CD for $20,000, which ties up all of your money for a long period, invest in four CDs of $5,000 with terms of 6 months, 1 year, 3 years and 5 years. This guarantees you steady access to your cash and enables you to take advantage of interest fluctuations. When one of your CDs matures, you can cash it in or reinvest it to keep the ladder going.

Additional Considerations

Knowing a CD’s APR and APY helps you understand the potential for financial return. APR refers to the annual percentage rate paid on the CD. APY refers to the annual percentage yield, which indicates what is earned during the CD term as the money compounds. For example, a three-year CD with an initial investment of $1,000 and a 5 percent APR will yield $50 the first year, and then the second year the new account total of $1,050 will earn a compound interest of $52.50, and so forth.

Cautions

Beware of CD interest rates substantially higher than other lending institutions. Such accounts may not be backed by a legitimate lender or be federally insured. Also consider avoiding CDs with call features, which refer to the bank’s right to terminate the CD after a set period of time if interest rates fall.

CDs offer a safe way to invest money over a specified period of time and receive more interest than you would in a regular savings account. Take a look at the wide variety of options available in CDs, and you’re sure to find an account that fits your financial needs.

Sources

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Differences Between Roth And Traditional IRAs

[vc_row][vc_column][vc_column_text]Individual retirement accounts (IRAs) provide a relatively safe way to grow your money for retirement and they offer significant tax advantages.

There are two types of personal retirement accounts you can open: Roth and traditional IRAs. Understanding each account and their differences helps you determine which IRA is best for your financial situation and retirement plans.

Traditional IRA Basics

A traditional IRA is a personal retirement savings account held at a bank or a brokerage firm that can be funded with investments such as stocks, bonds and mutual funds offered through the financial institution where your account is held. Traditional IRAs provide tax savings, including tax-free growth of earned interest, dividends and capital gains while the money is in the account. You also usually claim a tax deduction each year that you make a contribution to a traditional IRA. While your contributions to a traditional IRA are not taxed, you pay have to pay taxes when you remove the funds from the account at retirement.

Roth IRA Basics

A Roth IRA is a personal retirement savings account also held at a bank or brokerage firm that can be funded with a wide variety of investments, including stocks, bonds and mutual funds. Roth IRAs also offer tax savings, including tax-free growth of earned interest, dividends and capital gains while the money is in the account. Contributions made to a Roth IRA are taxed before they reach the account, but you are not taxed when you withdraw the money. Withdrawals of contributions are tax free after the Roth IRA has been open five years, and you can withdraw investment earnings tax free after you reach the age of 59 ½.

Traditional Vs. Roth IRAs

When it comes to investments, traditional and Roth IRAs work the same way. You fund the IRA and then move the money into various investments. With both types of accounts, the interest, dividends and capital gains grow tax free. If you are employed and earning an income, you can currently contribute to both types of accounts up to $5,000 per year until the age of 49 and $6,000 per year if you are 50 or older. Contributions to either type of IRA must come from taxable income earned from working. However, there are several important differences between traditional and Roth IRAs.

Consider the following differences when making a decision regarding which type of IRA is right for your financial situation.

Tax Deferral

Traditional: Contributions are taxed at the prevailing tax rate when money is taken from the account at retirement. Your contributions are not taxed when you initially deposit them into your account.

Roth: Because your contributions are taxed before they land in your account, you money is not taxed when it is removed from the account.

Age Limits

Traditional: No contributions are allowed once you reach age 70 ½.

Roth: No age limits exist on contributions.

Income Caps

Traditional: Anyone with a taxable income can contribute to a traditional IRA, no matter how much they earn.

Roth: There are income limits for contributing. In 2011, single individuals with a modified adjusted gross income of $125,000 and higher could not contribute to a Roth IRA.

Tax Deductibility

Traditional: Contributions may be tax deductible. Eligibility is dependent on a variety of factors including whether you are currently participating in an employer-sponsored retirement plan such as a 401(k), SEP IRA or SIMPLE IRA. Enrollment in one of these pans can limit or preclude tax deductibility.

Income also dictates if and how much a person can deduct. In 2011, for instance, an individual filing single or as head of household with no active participation in an employer-sponsored retirement plan who earned $56,000 or less in modified adjusted gross income could fully deduct all contributions to a traditional IRA. Individuals earning from $56,000 to $66,000 got a partial deduction, and those earning more than $66,000 had no deduction.

Roth: No contributions are tax deductible.

Required Minimum Distribution (RMD)

Traditional: Account owners must begin receiving minimum distributions of money in the account on April 1 of the year following their turning 70 ½-years-old.

Roth: No RMD.

Early Disbursement

Traditional: If you pull money out of the account before the age of 59 ½, you will be subject to an early distribution penalty. Exceptions to the early disbursement penalty rule include withdrawing money in order to pay for college expenses, medical costs greater than 7.5% of your adjusted gross income and expenses due to sudden disability. You can also withdraw up to $10,000 penalty free for a first-time home purchase. Finally, there are no penalties if you transfer the money into another type of retirement account.

Roth: After the account has been open five years, you can withdraw any money you deposited into the account without incurring a penalty. You will, however, usually pay a penalty if you withdraw investment earnings before the age of 59 ½.

Deciding Which Account Is Best for You

If you do not meet the income requirements for a Roth IRA, a traditional IRA is your only choice. Otherwise, you need to take a few factors into consideration when making your decision.

If you want to take advantage of the tax deductibility of your IRA contributions, you might consider choosing a traditional IRA. Opting for a traditional IRA also makes sense if you expect to be in a lower tax bracket when you retire, because you will pay less taxes at that time than you would now.

However, the flexible benefits of a Roth IRA may make it a more appealing choice. You might benefit from your ability to withdraw contributions without penalties. You might also prefer to have no minimum distribution requirements.  Finally, if you expect to be in a higher tax bracket when you retire, choosing a Roth will allow you to get your contributions taxed at a lower rate now, and you won’t have to worry about taxes later.

Splitting Your Contributions

If you are eligible for a Roth and traditional IRA, you may find it advantageous to split your maximum contribution between the two by depositing the tax deductible amount of your income into your traditional IRA and the remainder into a Roth. When considering doing this, factor in potential additional costs such as fees associated with funding both accounts. Your total contributions to both IRAs can’t be more than your limit for the year.

Now that you’re armed with the facts when it comes to Roth and traditional IRAs, you can use them to your advantage when planning for your retirement years.

Sources

IRS

IRS

IRS

IRS

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