Latest news with #FPA
The Citizen
6 days ago
- General
- The Citizen
Gatsrant FPA urges fire safety ahead of winter veld fire season
As the winter fire season begins, the Gatsrant Fire Protection Association (FPA) is preparing to prevent and combat veld fires in the greater Carletonville area. The FPA will hold its Annual General Meeting on June 19 at 17:00 at the Carletonville Fire Department, and all local landowners are encouraged to attend. Aletta du Preez from the West Rand FPA warns that many people remain unaware of the legal consequences of negligent fire practices. In terms of the National Veld and Forest Fire Act (Act 101 of 1998), several actions are considered criminal offences, including: Leaving open fires unattended. Causing fires that damage property or harm people. Discarding burning materials carelessly. Lighting fires in prohibited areas. Failing to create firebreaks or assist with fire-fighting when asked. Negligence alone can lead to prosecution, and offences are classified in categories — with Category 1 offences carrying the harshest penalties. To avoid legal trouble and protect the environment, residents and landowners should ensure they understand and comply with the Act. For more information, contact Tom Visser, Gatsrant FPA Chairperson, at 082 808 2035. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
7 days ago
- General
- The Citizen
No burning without permit, Witbank FPA warns
The fire season is upon us, and a number of people, including landowners, may consider burning for various reasons, but the one key thing we should always prioritise is our safety and that of our surroundings. Piet Wassenaar of the Witbank Fire Protection Association (FPA) said as of June 1, no burning is allowed without a valid permit. To get a permit, landowners can reach out to their local fire brigade and you do not have to apply for it each time you want to start a fire, but you are allowed to get one that will last the entire month. Wassenaar said landowners are bound to adhere to specific legal requirements when conducting controlled burns such as firebreaks, block burns, or even when using flammable equipment, as failure to do so can result in a fine or imprisonment. According to Wassenaar, when you want to make a firebreak: – Obtain the necessary permits. – Inform neighbours and authorities (fire brigade) by posting it on the FPA WhatsApp group and community groups to prevent panic and unnecessary phone calls when smoke is observed. – Check the Fire Danger Index (FDI) which is a measure of the fire risk based on weather conditions and ensure that you don't burn when the FDI is above 59 (orange or red). – Adequate equipment and personnel must be present during the burn to control and extinguish the fire. – The burn area must be patrolled until all risks or re-ignition are eliminated. 'The grass is long after all the rain we had in the area, don't take chances and be safe,' Wassenaar said. To apply for a permit, landowners in the eMalahleni area can contact Dennis Ground at 082 3301 359, alternatively, those who are in the Ogies or Phola area can contact Laureta Skosana at 072 8249 274. Breaking news at your fingertips … Follow WITBANK NEWS on our website, Facebook, Twitter, Instagram or TikTok Chat to us: info@ At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
Yahoo
30-05-2025
- Business
- Yahoo
FERC ALJ order threatens competitive transmission cost caps: CAISO
This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. An order by a Federal Energy Regulatory Commission administrative law judge threatens cost caps included in competitive transmission solicitations across the United States, according to the California Independent System Operator. A May 22 ruling by FERC ALJ Joel deJesus could also upend FERC's framework for providing refunds to electricity customers when the agency finds a company has been overcollecting revenue, CAISO said in a filing with the commission on Tuesday. The California grid operator urged FERC to overturn deJesus' findings, saying they 'will harm ratepayers, undercut the consumer protections afforded by the Federal Power Act …, and cast doubt on the CAISO's and customers' ability to rely on voluntary, binding cost caps proposed and agreed to by project sponsors in competitive transmission planning processes.' The issue centers on a dispute over a proposal by a Lotus Infrastructure Partners affiliate to recover more than double a cost cap for the 500-kV Ten West Link transmission project between California and Arizona. CAISO selected the DCR Transmission project in 2014 following a solicitation that grew out of its transmission planning process. The transmission line started operating a year ago. DCR in June 2023 asked FERC to approve a transmission tariff based on a $553.3 million estimated project cost compared to a $259 million binding cost cap. Three months later, FERC accepted DCR's proposal, subject to refund, but ordered hearings and settlement procedures, according to CAISO. The proceeding was moving under the Federal Power Act's section 205, according to CAISO. However, deJesus said FERC's initial order was 'ambiguous' as to what FPA section the case should advance under. He contends FERC should have determined that the DCR rate filing was an 'initial rate filing' to be handled under section 206 of the FPA and that FERC should have established a refund date under that part of the law. In his order, deJesus noted that in section 205 filings, the burden of proof for the justness of a rate falls on the applicant — while in section 206 cases, the burden is on the entity challenging a utility's rate. DeJesus plans to move forward with the case under the FPA's section 206, unless FERC acts on appeals to his decision by June 6. Parties appealing the ALJ's order include CAISO, FERC staff, the Electricity Transmission Competition Coalition and a group that includes the California Public Utilities Commission. Recommended Reading CAISO asks FERC to reject Starwood affilate's request to blow past transmission cost cap Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
14-05-2025
- Business
- Miami Herald
Workers struggle with one big problem when they retire
Many Americans may feel financially prepared for retirement, but the emotional transition and rising health care costs remain significant hurdles, according to a recent survey. The 2025 Trends in Retirement Planning survey report, released by the Financial Planning Association (FPA) and the Journal of Financial Planning with support from Finance of America, gathered feedback from 167 financial planners to offer insights into evolving retirement challenges. And here's what they found. Image source: Koslov for Unsplash There's a striking disconnect between financial and emotional preparedness. While over half of planners feel their clients are financially ready for retirement, only 11% believe those same clients are emotionally prepared. The survey found that nearly 60% of planners indicate clients are only moderately emotionally prepared, and 5% believe clients are not prepared at all. According to the report, clients often grapple with fears about: Adapting to no longer workingLosing their sense of identityPotentially becoming a burden to loved ones Don't miss the move: SIGN UP for TheStreet's FREE daily newsletter "Studies show that while health and wealth are vital for a successful retirement, being mentally and emotionally prepared is more critical," said Mitchell Kraus, a certified financial planner with Capital Intelligence Associates. "No matter how financially ready an American is to retire, their retirement can lead to a shorter and less fulfilling final chapter if they are not emotionally prepared." Jim DeGaetano, a certified financial planner and author of "The Fruitful Retirement," draws this parallel: "The emotionality involved in leaving one's life work cannot be understated. In fact, as I discuss the four stages of retirement in my book, there is a similarity to the phases of grief and loss. Wealth advisers must understand how critically important it is for their clients." As a result, financial planners are increasingly going beyond managing money to help clients address these significant emotional and lifestyle adjustments. "Being emotionally prepared is almost as important as being financially prepared," said Kris Etter, a certified financial planner with Beacon Financial Planners. "Life does not stop happening just because you retire." Financial advisers across the country are developing innovative approaches to address the emotional aspects of retirement. Their strategies offer valuable insights for those planning this major life transition. Related: Medicare recipients face a growing problem David Demming, a certified financial planner with Demming Financial Services, believes in gradual transitions, recommending "phasing down rather than abruptly retiring to adapt emotionally as well as financially." Rather than a complete stop to working life, he strongly advocates for "partial employment" with a refreshing philosophy of "work for play, not pay." Building on this approach, Catherine Valega, a certified financial planner with Green Bee Advisory, emphasizes that having sufficient finances isn't the complete picture: "Even those with enough money – that is not enough to maintain health both emotional and physical during the possibly several decades spent in retirement." To address this gap, she's developing a practical solution to help people "test-run their retirement lives" before fully committing. Rob Schultz, a certified financial planner with NWF Advisory Group, reinforces this approach: "Scaling back work tends to be successful because it gives you a trial run at what it would be like and you can see if you like being retired without fully committing to it. Once you are out of the workforce, it can be tough to re-engage." While some advisers focus on transition strategies, others like Ed Snyder, a certified financial planner with Oaktree Financial Advisors, takes a proactive approach from the very beginning by asking "prospective clients in their first meeting what their retirement lifestyle looks like for them." This early visualization helps clients prepare mentally as he guides them to "imagine what kinds of things they will want to be doing" and consistently encourages them to "stay active and involved." Patti Black, a certified financial planner with Savant Wealth Management, frames this proactive approach by "encouraging clients to know what they are retiring to, not just what they are retiring from. What is their purpose in retirement, their reason to get up and get going every day?" She's even working to shift the perspective "from 'becoming a burden' to 'becoming a blessing.'" Taking this comprehensive approach even further, Juliette Williams, a certified financial planner with Wealthspire Advisors, thoroughly goes "beyond the numbers" with her clients. She facilitates deeper conversations through targeted questions including: "What does it feel like to spend your days and nights together, as opposed to only your evenings while you are working?""What does a regular day/week look like in retirement? How do you plan to spend your time?""How do you think you will feel about no longer being known as whatever it is they do for a living?" Marcos Segrera, a certified financial planner with Evensky & Katz/Foldes Wealth Management, takes an innovative linguistic approach by "intentionally reframing 'retirement' as 'repurposing'" to encourage clients "to view this significant life stage not as a passive cessation but as an active, deliberate redirection of their accumulated energy, wisdom, skills, experience, and passions towards new or redefined goals." Related: These are the most tax-friendly states if you work in retirement Williams summarizes the philosophy that connects all these approaches: "I often tell my clients that the numbers will work out because they've been working toward the numbers all of their lives. I want to ensure that the life part works out as well as the numbers." Edward Thomas, a certified financial planner with Savant Wealth Management, puts it even more succinctly: "It is more behavioral coaching than financial." Prepare emotionally and financially. Retirement is a significant life change that requires reflection on what life will look like beyond work. Consider hobbies, social connections, and how you'll structure your time. "Retirement readiness goes far beyond numbers," said Nathan Sebesta, a certified financial planner with Access Wealth Strategies. "Emotional preparedness and clarity on how you'll spend your time are just as vital." Laura Mattia, a certified financial planner with Wealth Enhancement Group, stresses the importance of personalized planning: "Decisions regarding retirement are not just about the number of years worked or the age they aim for. There is no formula or one-size-fits-all answer." She recommends a six-step approach that begins with exploring "plans in retirement to pursue a new or continued passion, utilize skills, stay social, build relationships, and maintain health." DeGaetano offers a helpful framework through his "A Happy Retirement Is Freedom" acronym, which covers five essential factors: Activities: How you'll spend your dayHealth: Staying active and healthyRelationships: Nurturing connections that bring joyIntention: Both spiritual and personalFinancial security: The foundation for freedom Kraus recommends starting early: "Start talking about retirement early. Ask clients from our first meeting what they would do if they didn't have to work anymore." He also suggests "trying out the activities they plan on doing at retirement" before fully committing to them. Acknowledge and address emotional adjustments. If the transition proves challenging, seek resources or support to navigate the emotional aspects, such as adjusting to new routines or finding purpose outside of work. Etter reminds retirees that understanding your financial tools and when to use them can help manage stress. Glenn Downing, a certified financial planner with CameronDowning, poses a crucial question to new retirees: "What are you going to do with yourself all day?" He notes that the response "tells me volumes. If I get a blank look back, I know that the retiree has only thought about the negative (i.e., not having to go to work) and not the positive (i.e., the opportunity to completely reinvest oneself)." "Ultimately, a successful retirement blends financial stability with purpose and proactive health and lifestyle planning," says Sebesta. Resources that can help would-be retirees become emotionally ready include the blog "The Retirement Manifesto" and the book "The Keys to A Successful Retirement" by Fritz Gilbert. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
13-05-2025
- Business
- Yahoo
How to plan ahead for diminished capacity and prevent elder abuse
The possibility of dementia or other forms of diminished capacity among older clients begs the need for technical estate planning and thoughtful coordination with their families. That was the key takeaway from a presentation at the Financial Planning Association Retreat in Oak Brook, Illinois, last month, by Michael Haubrich, a certified senior advisor who is the founder of Mount Pleasant, Wisconsin-based Financial Service Group. Customer demand for stewardship during the aging process, available professional development through training and certification, and estate documents for those suffering diminished capacity give advisors "a great opportunity for us to add value to our client relationships," Haubrich said. Advisors also carry the power to identify and prevent the all-too-common abuse of vulnerable older adults that could amount to several tens, or even hundreds, of billions of dollars each year. "All elder abuse is built on the foundation of isolation," Haubrich said. "That's where we as financial planners can play a pivotal role in making sure that isolation doesn't become part of the foundation that our clients find themselves with, in the form of some type of elder abuse." READ MORE: Rising scam risk calls for coordinated prevention strategy, study says Fortunately, Haubrich shared a lot of resources that advisors can use in the struggle to stop abusive or fraudulent behavior and plan ahead with their clients. For starters, the sheer expense of aging mounts quickly in an environment in which 10,000 baby boomers will turn 65 every day until 2030 and 7 out of 10 people will require long-term care at some point, according to insurance and caregiving firm Genworth Financial. The company assists planners, older adults and their families with planning for the cost through an annual report on the cost of care and a database enabling them to track the level of expenses based on ZIP code and timelines. The staggering numbers show why planners can be so beneficial to clients: In 2023, the national median costs per month started at $2,058 for adult day health care or $5,350 for an assisted living facility, with still higher expenses of around $6,000 in home-based services and about $9,000 to $10,000 for rooms in nursing homes. And the chances of Alzheimer's disease, diminished capacity or mild cognitive impairment (MCI) rise with age, according to a 2022 article in FPA's Journal of Financial Planning by Chris Heye, the founder of Whealthcare Planning and Whealthcare Solutions. "Roughly 10% of adults aged 65 have dementia or MCI," Heye wrote. "This percentage increases as we get older, accelerating rapidly as adults reach their mid-70s. By age 82, there is a greater than 50% chance that a person has either dementia or MCI. By the time a person reaches age 90, there is more than an 80% chance they have dementia or MCI." READ MORE: The disturbing size of elder financial abuse in America In terms of general resources, Haubrich recommended that planners consult the Family Caregiver Alliance and Kasem Cares, an elder abuse awareness and prevention nonprofit launched by Kerri Kasem, the daughter of the late radio personality Casey Kasem. The circumstances of his 2014 passing and his children's wrongful death and elder abuse case against Kasem's widow formed the subject of a 2022 podcast series called "Bitter Blood." Other high-profile elder abuse cases include those of Mickey Rooney, Stan Lee and Brooke Astor. More specifically, Haubrich called out the writing and eldercare services, education and coaching provided by Annalee Kruger and Bob Mauterstock of Plan For Life Now. Kruger and Mauterstock worked with FPA to launch an "elder planning specialist" program for planners, and Haubrich is one of the professionals from many fields who have obtained the certified senior advisor designation through the Society of Certified Senior Advisors. Whether they have the designation or not, advisors should start a healthy dialogue between clients and their families to ensure that they have arrived at a plan for the future, Haubrich said. His firm facilitates virtual or in-person meetings it refers to as a "caring hearts conversation." The goal of the discussion isn't to "project our attitudes, values and beliefs around long-term care, but understand what the clients and their families, attitudes, values and beliefs are around long-term care," Haubrich said. And that simple step will "really profoundly impact your practice and protect your clients and their families from elder abuse," he noted. "We get everyone together, and we want to have that opportunity for them to express what role they want to play as a family member," Haubrich said. "It's focused on care planning, but it goes beyond that. We want to find out what each individual member of the family wants to have as their opportunity to participate in the care of mom and dad, or if it's just love." READ MORE: The vital role of financial advisors in stopping fraud and elder abuse At the same time, that discussion and future meetings will enable the families to talk through any concerns about their estate plan and confirm that they have taken steps such as appointing a trustee and complete important documents like an "incapacity agreement" and, of course, a healthcare power of attorney form, he noted. The latter represents such an important area that it often takes up most of the time. It leads to often-contentious topics like when the older clients can no longer live alone, whether they can continue to drive and which relative is in the best position to be the ultimate decision-maker in many healthcare issues someday. Haubrich has referred clients to a physical therapist who can evaluate people's ability to drive, and he knows of a "fee-for-service healthcare advocate" who can be present in collaboration with family members who live too far away to be there frequently. "Just because somebody goes into assisted living, the game is not over. The game is just starting," Haubrich said. "The healthcare power of attorney's most important role is healthcare advocacy, and, any time a loved one is in a facility, you have to have eyes on them, at least every other day, preferably every day." The other "really powerful tool" for advisors and clients comes from the incapacity agreement, which "is like fire insurance on your house," he said. The document gives planners legal protection in the event that they erroneously raise the alarm of potential abuse while securing clients' written agreement that an advisor can check with a designated family member or another trusted contact before proceeding with any suspicious transactions. Haubrich shared two stories about his use of the document, including in an intervention against "one of the most sophisticated scams I've ever seen" just a few weeks earlier. In the first instance, the niece of an older client who sought to give a neighbor $50,000 successfully vetoed the full transfer of those assets. And, in the second, more recent example, identity thieves posing as FBI and Treasury Department agents contacted an older couple to tell them they were under investigation for money laundering and cocaine trafficking and needed to pay a large sum of money that would later be reimbursed in order to catch the cartel. The clients' kids blocked massive fraud losses after their parents asked the firm to set up the necessary outlays toward buying a condo in Mexico for $900,000 in less than four days. "We didn't hear any more from the bad guys, and, more importantly, my clients were saved," Haubrich said. "But it was that incapacity agreement that allowed me to be in position to be able to hit them up with, 'Hey, this isn't going to happen.'" Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
