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Business Record Lift IOWA Weekly | February 17, 2020
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Retirement is a luxury – and a right, older Iowa women say
By Kathie Obradovich | Iowa Capital Dispatch
Two-thirds of Iowa women age 50 and over say retirement is a "luxury," according to a poll conducted for AARP.
However, 90% of Iowa women in this age group say they have earned the right to retire — and 65% would retire now if they could.
I wrote last week about AARP’s poll and the importance this large voting bloc was placing on health care costs as an issue in the 2020 elections. But there’s a lot more to delve into here. Since I’m a 50-plus Iowa woman who’s trying to save for retirement, this data was of particular interest to me.
Since women age 50-plus also say they expect to turn out in large numbers in the Iowa Democratic caucuses and 2020 elections, elected officials and candidates also might want to pay attention to this group’s attitudes toward work and concerns for the future.
For
example:
- Seventy-eight percent say they would like to retire — and a majority agree regardless of their party affiliation, income level or employment status.
- Sixty-five percent say they would retire now if
they could.
- Ninety percent say they have earned the right to retire.
- But 66% say retirement today is a luxury.
- Only 20% of Iowa women in this age group say they are "very confident" they will have enough money to retire comfortably. And while a majority are at least somewhat confident of their retirement savings, 43% say they are "not very confident" or "not at all confident" they will have enough money. Thirty-eight percent of the women who took the poll were retired already, so they speak from experience.
Those who aren’t confident are most likely (63%) to say Social Security is not enough to make ends meet. Forty-four percent said they never made enough money to save for retirement —
that’s a common issue for women who may have taken time out of work to care for children or elderly parents. And 42% said their health care costs were very expensive.
A majority (62%) gave their elected officials a D or F grade for their work in making it easier to save for retirement. Only 10% gave these efforts an A or B grade.
Fifty-plus women had a suggestion: "We should strengthen Social Security so every American has a chance to retire." That statement had 90% agreement, with a majority in every political affiliation saying they strongly agree.
Read the full story at Iowa Capital Dispatch
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Guest opinion: What I’ve learned each year in business
By Nora Crosthwaite | Realtor, Re/Max Concepts
On a cold Wednesday morning this month, I was meeting with an entrepreneur friend who is starting her recruiting practice for cybersecurity professionals. As we sipped our Mahalo’s lattes, she asked me a fabulous question: "What have you learned each year in your business? What has changed each year?"
Until she asked, I
hadn’t realized how much things had changed in my business and how much they continue to change.
I entered the real estate realm in November 2015 with no sales experience and no professional real estate experience (I’d personally lost money in the downturn, like many). So, the year ending in December 2016 I will call the "Year of Selling."
During my "Year of Selling," I told everyone what I did, whether they needed a real estate agent or not. I recognize these entrepreneurs and side hustlers on social media now every day; they are the ones constantly explaining why their product or service will change your life. This was the year many entrepreneurs and small businesses talked about themselves, and I was no exception. During the "Year of Selling,"
I did not understand, as most newer entrepreneurs do not, the full value of all I was bringing to the table. I took every client, at any time, at any price.
My second full year was 2017, the "Year of Anxiety." As I started growing, I found my business was sporadic. One month I’d be working with three clients simultaneously, and the next month I’d be hearing crickets.
If you’ve ever known an entrepreneur well, you’ll recognize the mood swings that come with this phase. We are flying on cloud nine one moment, down in the dumps an hour later, and convinced we have everything under control later that day. Thus, there’s another characteristic of the "Year of Anxiety": insomnia. Whenever business is coming in, you worry that it’s just a fluke
and will disappear. Whenever business is quiet, you worry that you’ll never make it. I get it; I’ve been there. During this year, I learned to start listening to others talk about their needs instead of shouting about my business from the rooftops. Sometimes, what people need is not quite what I provide; however, I can usually point them in the right direction. This year changed my focus to adding value, which was a game changer.
Toward the end of year two, the anxiety eased slightly and I began the "Year of Systems." While business was still somewhat sporadic, I was becoming consistently busier. While I was now able to sleep regularly, I was too busy to do so. Obviously, the time was right to start building out my systems and investing into the future.
I hired a former client as my assistant. Jeannie quickly became the glue behind the business. Still, this was a leap into the unknown. Having an employee who must get paid each month really forced me to use her skills efficiently and effectively and become more consistent in my business habits. As a necessity, we worked together to create processes and checklists for our real estate transactions; it was no longer enough for me to have everything in my head. These systems are now the backbone of the business.
With our systems in place, 2019 became the "Year of Growth." Creating a clear value proposition and documented checklists, I added an agent to the team, Tawnia. Tawnia and I are complementary in our experiences and interests, enabling us to grow beyond my
established client base. We also still have Jeannie standing behind us and making sure we’re on track. At this point, the business still comes in waves (as real estate business can do), but the anxiety has virtually disappeared. We were prepared for meaningful growth from 2018 to 2019 without adding hours or significant stress and are looking to continue the trends in 2020.
So what is year five? In 2020, we expect to continue to diversify by taking on different types of clients and transactions and challenging ourselves. Real estate is a profession that teaches you something new every day; the trials and transformations of each of the last four years have prepared me to tackle future years with aplomb.
The four-year timeline to stability and growth
is fairly typical with real estate agents as well — most real estate agents leave the business within their first three years. Surviving and thriving this long shows me that we have a foundation to structure our work with clients and adjust to ever-changing market conditions. This gives us the bandwidth to focus on what we love: adding value.
If you’re a business owner or entrepreneur, consider: Was this your trajectory, too?
Nora
Crosthwaite is a Realtor at Re/Max Concepts. She and her team do business under Home Sweet Des Moines, and specialize in educating clients, adding value, and inspiring action. Nora is also launching an online staging service at Stagerie.com in April 2020.
Outside of business, Nora volunteers regularly with Habitat for Humanity, Pi515, and is a former FemCity Des Moines board member. She enjoys spending time with her husband and daughter, and is a self-professed geek who catches all the Star Wars and superhero movies. Connect with her via email.
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Ivy Women In Business award winners announced
By Lift IOWA staff The Ivy College of Business at Iowa State University last week announced the winners of the 2020 Ivy Women in Business Awards. The awards — which include the Champion Award, Inspiration Award and Outstanding Young Alumna Award — honor women in business and those who work to inspire and advance the careers of women.
The Champion Award honors individuals, businesses or organizations serving as champions to inspire, lead and encourage women. This year’s winner was Renee Schaaf, president of retirement income solutions at Principal Financial Group.
The Inspiration Award recognizes women who have made a significant impact in their career. Through their work, they have inspired other women in business to become leaders and reach their full potential. The 2020 recipient is Berta Aldrich, managing director, chief marketing officer and chief human resources officer at the Private Advisor Group.
The Outstanding Young Alumna Award honors alumnae,
age 35 younger, who have distinguished themselves early in their career for their remarkable achievements. The 2020 recipient is Anna Florzak, product line manager for WNBA Uniforms at Nike Inc.
The winners will be honored during the Ivy Women in Business Awards ceremony on March 25 at the ISU Alumni Center. The event is free and open to the public; RSVPs are requested and may be made here.
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BRIEF LIFTS
Gibbs named to CRE Hall of Fame: Linda Gibbs (pictured), a senior vice president of CBRE | Hubbell Commercial, has been named to the Midwest Real Estate News' 2019 Hall of Fame. Gibbs has been in commercial real estate for more than 33 years. For the past 17 years, she has been involved exclusively in investment property sales including multifamily, retail, office and industrial. She has been involved in disposition and debt equity investment property transactions exceeding $1 billion.
Ecuadorian immigrant honored for improving lives of other immigrants: Three days before giving birth to her son,
Maria B. Alcívar-Zúñiga found out she won a prestigious award recognizing her leadership, academic accomplishments and community work empowering Latinx youth and families in Iowa. Six weeks later, Alcívar-Zúñiga, a doctoral candidate in human development and family studies at Iowa State University, headed to Washington, D.C., to accept the K. Patricia Cross Future Leaders Award.
Finkenauer tackles child care shortage: U.S. Rep. Abby Finkenauer, chair of the House Small Business
Subcommittee on Rural Development, Agriculture, Trade and Entrepreneurship, gathered small-business owners and an education expert recently to examine the impact that child care has on small business and regional economies. When parents can’t find affordable child care, the effects are felt across our economy, Finkenauer told those in attendance.
CEO wins entrepreneurial award: Sue Tyrrell, CEO and owner of Hands Up Communications, is the 2020 Deb Dalziel Woman Entrepreneur Achievement Award winner. The Deb Dalziel Woman Entrepreneur of the Year Award honors an Iowa woman entrepreneur who has significantly changed or improved her life and the lives of others. The award is presented by America’s Small Business Development Center Iowa.
Valley Junction business owner sells business: Valley Junction business owner Kelly Sharp sold anchor gift shop Heart of Iowa Market Place to her daughter-in-law Abby Sharp, the business announced. Abby Sharp took control of the store on Feb. 1. She had been been operations manager under Kelly’s ownership for the past three years.
Lucas to retire from WHO Radio morning show: WHO Radio reports longtime morning radio host Bonnie Lucas plans to retire. The co-host of "Van and Bonnie in the Morning" announced her retirement last Thursday. WHO says Van Harden and Lucas have been doing the morning show for more than 25 years. They were inducted into the Iowa Broadcasters Association Hall of Fame in 2019. Read more
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NEWLY ANNOUNCED EVENTS Feb. 17: Managing Risk in a More Uncertain World
About: Allison Schrager will present "Managing Risk in a More Uncertain World: What We Can Learn From Surfers, Studs, and Sex Workers." Schrager studies how people manage risk in
their lives and careers, and will discuss five principles for dealing with risk shared by some of the world’s most interesting risk-takers. The event is free to attend.
Where: ISU Memorial Union Sun Room, Ames. 7 p.m.
Learn more
Feb. 20: 6 Degrees
About: Six Degrees of Separation is the theory that everyone and everything is six or fewer steps away, by way of introduction, from any other person in the world. The Downtown Des Moines Chamber is focused on making those connections that count through this casual after-hours networking event.
Where: Staybridge Suites Downtown, Des Moines. 4:30-6 p.m.
Learn more
March 4: Iowa Women's Conference
About: The Iowa Women's Conference (WOCO) is a first-of-its-kind event in Des Moines focused on educational, inspirational and motivational sessions that touch all aspects of women's lives. Keynote speakers are Randi Zuckerberg and Bethenny Frankel, and there will be at least 17 breakout sessions to choose from with topics like body confidence, the power of choice in leadership, the mental load of the working mom, entrepreneurship, harnessing
your creativity, and health and wellness. A portion of proceeds will benefit Dorothy's House.
Where: Iowa Events Center, Des Moines. 8 a.m. to 6 p.m.
Learn more
View our full calendar
to see the latest curated business and community events, or suggest an event.
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IN CASE YOU MISSED IT
IOWA
A popular downtown Cedar Rapids gathering place will be closing its doors next month as owner and self-styled "top chickadee" Brooke Fitzgerald flies off in search of new horizons.
Sara Gotch, the founder of Gnarly Pepper, has learned many lessons on her entrepreneurial journey, but one of the most important was also among the simplest: Don't be afraid to ask for help.
Erica Cole, founder of No Limbits, opened a new office in Iowa City. See photos from her open house.
After nearly nine years of business in the Ames community, Random Goods is closing its doors on Main Street for good. According to the vintage consignment and costuming store’s owner, Cheryl Gleason, it’s ending on a very happy note.
NATION
For the 20th anniversary of their foundation, Bill and Melinda Gates announced that gender equity will officially be a prominent issue in the organization's work going forward.
On Feb. 6, after 328 days in space, astronaut Christina Koch returned to Earth after completing the longest single spaceflight by a woman.
The U.S. men’s soccer team players association, in the midst of negotiations with the U.S. Soccer Federation over a new collective-bargaining agreement, on Wednesday called on the federation to pay the U.S. women’s team "significantly more" than the men were paid under their recently expired deal.
For the first time, the top 16 law review journals are helmed by only women.
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The high cost of having a baby in America
The Atlantic: For women in many developed countries, having the baby — not paying for it — is the hard part. Giving birth in Finland, for example, will set you back a little less than $60. But in the U.S., the average new mother with insurance will pay more than $4,500 for her labor and delivery, a new study in Health Affairs found. It wasn’t that the procedures or technologies involved in childbirth became that much more expensive over time. The reason for the increase, according to the study authors, has to do with your health insurance.
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The busier you are, the more you need quiet time
Harvard Business Review: In a recent interview with Vox’s Ezra Klein, journalist and author Ta-Nehisi Coates argued that serious thinkers and writers should get off Twitter. It wasn’t a critique of the medium or even the quality of the social media discourse in the age of fake news. It was a call to get beyond the noise. For Coates, generating good ideas and quality work products requires something all too rare in modern life: quiet. He’s in good company. Author JK Rowling, biographer Walter Isaacson and psychiatrist Carl Jung have all had disciplined practices for managing the information flow and cultivating periods of deep silence. Ray Dalio, Bill George, California
Gov. Jerry Brown and Ohio Congressman Tim Ryan have also described structured periods of silence as important factors in their success.
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Tina Smith Fritz (pictured)
Bankers Trust
Promoted to executive vice president
Des Moines
Stacie Eastman
His Hands Free Clinic
Joined as director of development and communications
Cedar Rapids
Nancy Humbles
Retired
Appointed president of the African American Museum of Iowa board of directors
Cedar Rapids
Abena S. Imhotep
Sankofa Literary & Empowerment Group
Appointed to the African American Museum of Iowa board of directors
Cedar Rapids
SUBMIT AN ON THE RISE: Know an Iowa woman who recently started a new management or executive-level job? Send her name, position and company, along with a photo, to liftiowa@bpcdm.com.
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