Sunday, July 08, 2018

Estate Planning Myths and Misconceptions

Now is the time of year when extended families get together at the beach, lake, mountains or national parks. While the focus is on meals, family bonding and R&R, it’s also a good time to get the ball moving about those sensitive estate planning issues.

According to my friend Valentino Sabuco, founder of The Financial Awareness Foundation, half of the U.S. adult population has NO financial, estate or gift plan. As most of you know, estate planning is not just for the wealthy or elderly. It’s essential for anyone who wants to make their own decisions about their assets and their heirs—rather than the government making it for them.

I don’t have to remind you that estate planning is not only a touchy subject; it’s complex and often misunderstood. In response, several of our clients have been speaking to the national media recently about estate planning myths and misconceptions that frequently trip successful families up.
With the significant increase in the lifetime exemption under the 2017 tax act ($11.2 million per spouse in 2018), our client, Blake Christian, CPA said even many affluent taxpayers do not believe estate planning is truly necessary. “Nothing could be further from the truth,” said Christian, a partner of HCVT in Long Beach, CA. “Even for the 99 percent who will never pay estate tax, estate planning is very necessary for numerous reasons, including:

1) Avoiding the probate process.
2) Asset protection.
3) Simplifying mixed-family complexities associated with divorce, blended families and common-law marriage situations.
4) Titling assets properly can also make the difference between getting a full or partial step-up in an asset's tax basis for the heirs.
5) Making sure your assets are distributed correctly to provide your heirs with sufficient after-tax income after you are gone,” added Christian. 

According to our client, Mark A. Rioboli, CFP®, CFS, director of wealth management at Wayne, PA-based Independence Advisors, “The misconception is that if you have a will, it controls everything. In reality, it only controls the assets in your own name.” 

*** NOTE: HB clients Anthony Glosmki, Molly Grubb and I will be speaking about advanced planning topics at the Accounting & Finance Show in NYC this week at the Javits Center. More than 2,000 attendees and 200 speakers are expected.
Stop by if you are in the Big Apple.
Our client, James Nevers, an advisor at Soundmark Wealth near Seattle, WA agreed. He said it’s a common mistake to believe that if you have a Will, you don’t need to worry about your beneficiary designations on retirement accounts. “I manage several 401(k) plans for medical groups. When I provide participant education to their staffs, I tell them the same story every time we meet – ‘If your primary beneficiary designation on your retirement accounts says your ex-spouse, then all your hard-earned savings in your 401(k) is coming to your ex-spouse, regardless of what your Will states.’”

According to Nevers, you should also check to see if a minor child is listed as a beneficiary. “I don’t know many 8 year-olds who can responsibly manage $100,000. Nor do I know anyone who wants their ex-spouse to get one more penny than they’ve already received,” added Nevers. “Beneficiary designations supersede your will – simple as that.  I advise everyone to consult with their estate attorney about who they should designate, whether it is their spouse, a trust, or another individual.”

As Benjamin Franklin famously said, "Failing to plan is planning to fail." Don’t let that happen to you and your clients. Hope to see you at the
Accounting & Finance Show on July 11th and 12th.

TAGS:  Mark Rioboli, Independence Advisors, Blake Christian, HCVT, James Nevers, Soundmark Wealth, NYC Accounting & Finance Show, Valentino Sabuco, The Financial Awareness Foundation

Monday, June 25, 2018

Don’t Get Anchored to Your Emotions

As the old saying goes: “Markets don’t create losses, people do.” To that end, our client Brian Thomas, chief investment officer of LA-based AG Asset Advisory, told CNBC last week that many retirees confuse price with value.

According to Thomas, a fallen stock price looks like a bargain and makes it easier to amass a lot of shares, but it doesn't mean you're getting a steal. "This is a classic fallacy.” It's tied to what he called the "anchoring bias" of incorrectly viewing the low price — relative to the higher price the stock used to trade at — as an indication of a value stock opportunity. "A $50 stock that went to $5 lost half its value three times while falling and can do it again," Thomas added.

Where a stock has been isn’t as important as where it is going based on the company's products and services, management quality, regulatory environment. Don’t be fooled he said, just because it’s at a new low.
Our client Matt Topley, chief investment officer of Fortis Wealth in Valley Forge, PA agreed. “In one sense, anchoring is about having a mental stake in the ground to give you a framework for making decisions,” said Topley. “For instance, the Shiller CAPE ratio is above 30 so I’m going to sell. Or, if Buffet’s Market Cap-to-GDP Indicator is above a certain number, I’m going to sell. Sure, the market is more expensive today than it has been historically, but those aforementioned ratios don’t tell you when to buy and they don’t tell you when to sell.”

Anchors away!

So we can anchor into these numbers—for example news about new market highs is blaring every day. And people are saying to themselves: “New highs! New highs! It must be time to sell.” But think about it. New highs are usually a positive sign for the market. We get anchored into these numbers and they screw up our thought process.

For more great examples of tricks that our emotions play on the rational side of our brain, check out Topley’s new white paper: Investing is a Psychology Game, Not and IQ Game.

“We have personal anchors and we have professional anchors,” observed Topley. “The personal anchors are psychosomatic things going on in our lives that affect our daily work decisions. Professional anchors are the numbers and ratios I just talked about that keep getting stuck in our head.


What’s Topley’s advice for riding out the summer doldrums that inevitably pull us into complacency? Investors should plan a great vacation and spend zero time worrying about valuations and volatility over a this month period. “This is a prime example of opening yourself up to an emotional decision that damages long-term portfolio. Successful investing is 40 percent risk control and 60 percent self-control,” Topley added.

*** Take our Insta-Poll and see how you stack up to your peers.

TAGS:  Matt Topley, Fortis Wealth, Brian Thomas AG Asset Advisory, CNBC

Saturday, June 09, 2018

Can You and Your Clients Count on Social Security?

“Today more people believe in UFOs than believe that Social Security will take care of their retirement.” -- Scott Cook, billionaire cofounder of Intuit.

“Before Social Security existed, about half of America's senior citizens lived in poverty.”Senator, Bernie Sanders

Depending on your point of view, Social Security is either one of the Big Government’s greatest social achievements, or it’s just another heavy-handing tax on the first $128K of your income and a well-intended social safety net that’s poised to collapse on itself.

A Gallup poll found that half of working Americans don't think they'll receive any benefits when they retire. In fact, a new report this week from the trustees of Social Security said the program's costs are expected to exceed its income this year for the first time since 1982. That shortfall will force the U.S. government to dip into the retirement system's trust fund to pay benefits to participants. How serious a problem is that?

Well, if the program’s reserves are depleted as expected by 2034, the system won’t be able to pay all the benefits retired workers are entitled to. Experts say the program could still honor three-fourths of benefit claims if its reserves are depleted post-2034. But even at 100-percent, payouts won’t be enough to meet the needs of most retired Americans.

This much is clear. Over 10,000 Boomers a day are filing for Social Security benefits for the first time. Confusion over the program’s future is causing many retirees and near-retirees to make ill-advised filing decisions.

To help separate Social Security fact from fiction, a number of our clients have been fielding media inquiries lately about some of the biggest myths about the program. Here are some excerpts:

Spousal Benefits

According to Blake Christian, CPA, a partner of Long Beach, California-based HCVT, “Many taxpayers are confused about how Social Security benefits vests with respect to surviving spouses of a decedent or a former spouse.  Generally a spouse, or former spouse (‘requesting spouse’), who was married for at least 10 years is entitled to receive up to 50 percent of the Social Security benefits of their spouse or former spouse. In order to claim spousal benefits, the spouse requesting benefits must meet the following three tests:
a) The requesting spouse must generally be 62 years or older, and
b) The related spouse must have reached Social Security eligibility and
c) Have filed to receive their benefits.
Christian added that if the spouse has deferred claiming Social Security benefits in order to increase future pay-outs, the requesting spouse must also wait for their share. “Divorced spouses who have not re-married, are likewise eligible to claim up to 50 percent of their former spouse's Social Security benefits once the requesting spouse and ex-spouse reach 62; however, the requesting spouse is not required to wait until their ex-spouse files for benefits. If newly divorced, there is also a two-year waiting period before benefits are available to the requesting ex-spouse. It is worth noting that these spousal benefits do not reduce amounts payable to the ex-spouse or the new spouse (if the ex re-married),” added Christian.

More solvent than you think

Matt Topley
, chief investment officer of Fortis Wealth in Valley Forge, PA thinks that predictions of Social Security’s demise are greatly exaggerated. “If we increased the retirement age by two years and slightly increased contributions for high wage earners, Social Security would be solvent for another 100 years.  Since the death of pensions in the U.S., Social Security has become vital for retirement--not just for the working class, but middle class as well.” According to Topley, the meager balances in the average American’s 401(k) account “tell a dismal story on the economic future for retirees,” added Topley.

Taxability of Social Security benefits

HCVT’s Christian said many retirees to continue part-time work into their 60s and 70s. Understanding how part-time work impacts the taxability of their Social Security benefits is critically important. “Knowing these rules will allow retirees to better time their Social Security elections as well as other income and expense items,” noted Christian.
Even though most taxpayers never received any tax benefit when they paid into the Social Security system, Congress still subjects up to 85-percent of the related Social Security benefits to potential taxation in retirement years. “This taxability concept runs counter to most tax rules and is seldom discussed,” said Christian. “From a state tax perspective, the rules get even more complex. 36 states either have no state income tax or exclude Social Security benefits from taxation. However, at least four states, including: Minnesota, North Dakota, Vermont and West Virginia follow federal rules and tax up to 85-percent of Social Security benefits. Colorado, Connecticut, Kansas, Missouri, Montana, Nebraska, New Mexico and Utah also tax all or a portion of such benefits, depending on specific demographics of the recipients.  While state taxation may not dictate where to retire, it should be factored into retirement planning,” Christian added.
From a federal standpoint, it gets fairly complicated, too. Just know the following thresholds, said Christian:

Single Filers: with 2017 MAGI between $25,000 to $34,000 retirees were required to include 50% of their Social Security Benefits in taxable income on page 1. Taxpayers with MAGI in excess of $34,000 must include 85 percent of Social Security benefit in taxable income.

Joint Filers:
with MAGI between $32,000 and $44,000 in 2017 were required to include 85% of their Social Security benefits in taxable income. MAGI over $44,000 would have triggered an 85% inclusion.”


Just as you need a well-diversified portfolio of investments during your wealth accumulation years, you need a well-diversified portfolio of income streams during your retirement (i.e. wealth drawdown) years. Our friends at Independence Advisors in Wayne, PA have more great resources about Social Security planning.

Best, HB

*** Take our Insta-Poll and see how you stack up to your peers.

TAGS:  Matt Topley, Fortis Wealth, Blake Christian, HCVT, social security insolvent, social security myths

Wednesday, May 30, 2018

HB Featured in ’25 Financial Advisor Marketing Ideas’ (Fit Small Business)

As many of you know, we’ve long advocated “Taking the High Road” when it comes to providing clients, prospects and followers with concise, highly relevant content. Thanks to the folks at Fit Small (FSB), we’re not the only ones who agree. FSB was kind enough to list us as #9 in their 2018 listing of 25 Financial Advisor Marketing Ideas & Strategies

Too swamped to produce regular original blog posts, but you don’t want to send out canned, aggregated content?

Try this approach

Every few days, share with your clients/prospects a link to an article or broadcast clip from the mainstream financial media (e.g., “New Tax Rules Allow 529 Plans Withdrawals for K-12”). But instead of just giving your audience another link and FYI, add some of your own color commentary about the topic. Explain why the New 529 rules are so beneficial to your readers and how the journalist/reporters could have done a better job of explaining the nuances of the new rules for college and prep school savers. If space permits, remind readers about the dangers of taking all the financial advice they consume in the mainstream media can be misleading—even if provided by ethical, hard-working journalists.

At a time when we’re all inundated with too much news, information and noise, you’ll position yourself as a true thought leader if you can be not only an aggregator and curator of valuable information for your clients and followers—but a value added “complexity filter” as well.

If you have time, there are 24 other good tips in the Fit Small Business article (it’s a very quick read)

Best, HB

*** Take our Insta-Poll and see how you stack up to your peers.

TAGS: Hank Berkowitz, HB Publishing & Marketing, Fit Small Business, Taking the High Road

Wednesday, May 16, 2018

10 Reasons Why Tech Tools Won’t Make You a Better Writer

Apps, smart devices and AI tools are taking over every part of our lives. So, it’s tempting to use tech crutch when you have to dash out a blog post, short article or another chapter of your long-delayed book.
While technology can be a great backstop for the mundane aspects of writing, it’s no substitute for creativity and shaping your true voice. Plus, tech tools take everything literally. They can be counterproductive when you’re trying to be literary or literate.
As Lucy Miller noted in Ragan’s PR Daily recently, “Proofreading software and grammar checkers—those blessed gifts from above that highlight embarrassing errors and silly mistakes—are wonderful aids, but they are far from comprehensive.”  Amen, Lucy.
If you rely on your proofreading software too much, Miller offers five good reasons to reconsider:
1. Grammar checkers go strictly by the book.
Grammar checkers or proofreaders are software programs that understand the binary code version of whichever grammar rulebook was consulted in the development process.
“Writing is not math,” noted Miller. “Language is flexible and subject to change—as are the rulebooks that we adhere to. 
2. Grammar checkers are outdated.
Merriam-Webster’s dictionary added more than 1,000 words last year. “What a term means today might be radically different from what it meant 20 years ago. Plus, new words and slang are created just about every day,” explained Miller.
3. What you wrote is not what you meant.
According to Miller, most proofreading programs are unable to distinguish between similar terms such as effect and affect, or every day and everyday—and forget about correcting misplaced commas. “Most also have a tough time catching nitpicky grammatical issues. Word’s spell checker is blissfully unaware of the following glaring errors:
  • Piece be with you.
  • She shows such love and infection.”

4. Too much tech can make you lazy.
According to Miller, over-reliance on proofreading software can stunt your growth as an author and lull you into sloppy habits and a false sense of security.
Working without a net forces you to read and edit more carefully, noted Miller. “If you rely on technology to catch grammatical errors, why bother to learn the rules yourself? Tech reliance can cause your writing and editing muscles to atrophy.” 
5. Editing programs often replace the human touch.
The human eye has more proofing power than any software available today—especially if someone hasn’t reviewed the content before. “It’s amazing what technology can do, but human intuition, nuance, humor, context and experience can improve any piece,” observed Miller. “Proofreading programs certainly are useful, but software shouldn’t be used at the expense of human review.”
Here are some of our own favorites:

6. Read your work out loud or better yet, dictate it into your smartphone voice recorder and play it back. You may not like what you sound like, but this technique will prevent from straying too far from your point and from falling into the run-on-sentence rabbit hole.

We work with a number of advisors who can get up in front of 5,000 people and give a flawless presentation with little or no rehearsal--but they freeze up like alligators in the Arctic when they have to sit down at the keyboard. We don’t have them write anything for us at first. We just “interview” them with topic-specific questions related to their planned blog posts, articles, even books. Once they see a draft of our “interview” write-up, then guess who suddenly become eagle-eyed editors?

7. Walk away for at least an hour. What looked so brilliant before you took your break suddenly stinks looks a garbage dump on a hot summer day. Don’t despair, that’s what first drafts are supposed to do anyway (see #9 below).

8. Start with the end in mind. Write the conclusion first, then three or four summary bullet points (i.e. Key Takeaways). What do you really want readers to take away from your article or post? Then play around with the headline (or the cover of your book). You have no choice but to be concise and on point.

9. Write quickly.  Just let it flow. Don’t worry about grammar, sentence structure and punctuation. Let it rip! Don’t be a writer—be a story teller—then revise, revise and revise. Blogger Hannah Heath explains why you should let your first draft suck and Vaibhav Vardhan explains why your first draft is supposed to suck.

10. Give it the relevance check. We all have a mental picture of our core audience when we write. We know who are biggest fans (and critics) are. Imagine them looking over your shoulder before you hit the post, send or publish button. What would their reaction be? If it stings, give your piece another tune-up. There’s no charge for parts, just for the labor.


E.B. White
said, “writing is hard work and bad for the health.” Perhaps it is, but it’s an essential part of communicating with your followers and being a thought leader. Don’t let perfection be the tyranny of progress. Set a deadline. Go with your best effort, and then revise, revise and revise even after it’s been published. That’s one thing that’s great about publishing in today’s electronic age. It’s never been easier to update.

*** Take our Insta-Poll and see how you stack up to your peers.

TAGS: Proofreading, grammar software, Lucy Miller, Vaibhav Vardhan, EB White, becoming a better writer

Tuesday, May 08, 2018

Be Entrepreneurial (even if you never start a business)

With graduation season upon us, the latest crop of smart, ambitious and hopeful young adults will officially enter the world of adulthood. For most, that will mean entering the workforce immediately or perhaps after one last overseas trip.

Today’s kids have more pressure on them than any previous generation to show ROI on their monstrous tuition bills and/or student loans. These young people aren’t stupid (or lazy). Sure, they want to put their hard-earned knowledge to good use, but they know they’ll be changing jobs every year or two for the early part of their careers. They know they’ll have to jump ship often in order to get a significant increase in pay and responsibility. They know they’ll have to reinvent themselves continuously so they don’t get “disrupted.” There’s no ladder for this generation to climb except the one that they build for themselves. They’ll have to go out and find their own mentors, too.

Many universities and most business schools offer courses like “Principles of Innovation and Entrepreneurship.” It’s debatable whether or not you can really teach entrepreneurship, but you can certainly make natural entrepreneurs better at their craft. It’s also helpful for all of tomorrow’s future leaders to learn how to become more entrepreneurial.

Our client Anthony Glomski, founder of LA-based AG Asset Advisory told me recently that “Entrepreneurs figure things out. Problems are puzzles they solve. This requires actually ‘doing’ and lots of self-study like podcasts, reading, TED Talks, etc.  This is the stuff that matters,” added Glomski, author of the new book: Liquidity & You: A Personal Guide for Tech and Business Entrepreneurs Approaching an Exit.

Our Take: You don’t have to be in a California garage working on the next billion dollar startup to benefit from Glomski’s advice.

Another of our clients, Blake Christian, CPA of Long Beach, CA-based HCVT, said that regardless of your major and career, “always keep your eyes open for other business and investment opportunities that you may be able to handle in your off hours.  Most passions can be turned into profitable business ventures,” added Christian, author of the new book, The Benefits of Becoming a CPA-Preneur .

Our client Kyle Walters, founder of Dallas-based Atlas Wealth Advisors and a partner of L&H CPAs told me, “Most people think success is about being right and not failing. With entrepreneurship, you need to be ready to fail a lot because it’s the only way you are going to grow. I’m not talking about catastrophic failures in which your business shuts down. You need to be ready for things NOT to work and you need to keep going. It’s going to happen a lot, added Walters, author of the forthcoming book The Personal CFO.

Can entrepreneurship be taught?

According to Glomski, “Some people are born with entrepreneurial DNA, but I believe it is a learnable skill set. In writing my book and in my existing capacity I'm fortunate to be around some incredibly successful entrepreneurs. There are some commonalities amongst all of them—most are voracious readers and lifelong learners. More than half seem to have read Think and Grow Rich by Napoleon Hill.”

Glomski said he began his career on typical Big Four corporate path at age 22 and was miserable by age 22-1/2. “One day I was assigned to go review the financials of the Stone Foundation. I assumed they sold rocks or something. It turned out to be about a completely self-made guy who had amassed an enormous net worth and founded a Fortune 500 Company. I went to our administrative assistant and asked her, ‘how did he do this?’  She replied: ‘He wrote a book about it...Take a copy.’

I read the book and it forever altered my life and who I work for (entrepreneurs). The book was Success Through A Positive Mental Attitude. It was authored by W Clement Stone and Napoleon Hill. Thirty days later I quit the firm and never looked back. So if I could offer one piece of advice, read Napoleon Hill’s Think & Grow Rich.

According to Christian, today’s students graduate with a more entrepreneurial outlook than prior generations because they know their first job will be a short layover on their career flight—not their ultimate destination. “Having more open-mindedness and flexibility to risk job changes is healthy overall, but must be balanced with dedication to the job you are currently doing,” said Christian. “Geographic flexibility, including foreign assignments, also allows for a stronger resume and life experiences,” he added.

Are younger people more reluctant to fail?

“I don’t know if it’s one generation versus another,” noted Walters, “but there’s definitely more pressure than ever on people entering professional careers NOT to make mistakes--not having a dreaded ‘ding’ on your record. That’s completely the opposite of entrepreneurship where you are figuring things out all on your own. Mistakes are all part of the learning curve. If you have family and peers who have all built a narrative around you based on success, then the self-imposed pressure to be perfect can be higher.”

Many of the experts we consulted for this post stressed the importance of reading and lifelong learning. HCVT’s Christian said writing skills and math skills “continue to be deficient” in the young people he comes across.  “I strongly suggest that every college student take bookkeeping (QuickBooks) class and a business writing course in order to be more ready for the real world.” 
According to Walters, very little of being an entrepreneur is about success or being perfect. “The person who can fail forward over and over and over again is the one who’s going to win. You need to be ready to ‘fail successfully’ and not let it discourage you and realize it’s all part of the process to growth, observed Walters.


Most of you on this distribution list have been entrepreneurs at one point or another in life. Michelle Galligan, Managing Director of Columbus, Ohio-based accounting and consulting company,
ViaVero, said that being an entrepreneur is an integration of work and life. “When you really love what you do every day, it makes it so much easier to put in all the time and effort that it takes to run a business. I don’t dread Mondays and I don’t count the days and minutes until the weekend.”
Our Take: If you can make a living with Galligan’s outlook on work and life, you are well on your way to success.

*** Take our Insta-Poll and see how you stack up to your peers.

TAGS: Anthony Glomski, Liquidity & You, Blake Christian, The Benefits of Becoming a CPA Preneur, Kyle Walters, The Personal CFO, Michelle Galligan, ViaVero

Friday, April 20, 2018

How About Some Good News for a Change

“If it bleeds it leads!”

That was the motto in the newsroom of the ABC-TV affiliate in Harrisburg, PA where I started my career. Fresh out of college, I remember those bleary eyed mornings, 5:30 am, just developing a taste for very bad office coffee. My job was to call every hospital emergency room, police precinct and ambulance dispatcher in central Pennsylvania to find out if there was any overnight carnage in the area.

How about something from sports or scientific breakthroughs I once suggested to our chain-smoking, managing editor. “That ain’t want the audience wants” he growled between hacking coughs. Research confirms he was right. According to author and entrepreneur, Rolf Dobelli, News is bad for you – and giving up reading it will make you happier.  Entrepreneur emeritus Peter Diamandis said it’s all about understanding ourNegativity Bias.”

With a revolving door White House, Facebook privacy breaches, FBI leaks, mass shootings at schools, and tensions flaring from the Middle East to the Korean peninsula, we’re up to our eyeballs in negativity from the conventional media and social media.

However, every once in a while some positive news tops the headlines. This week it happened not once, but twice. In both cases, female heroes were cited for doing their jobs extremely well under supremely difficult circumstances—and we’re not talking about coming forward to report workplace harassment.

On Monday, lightly regarded 34 year-old distance runner, Desiree Linden, become the first American woman to win the Boston Marathon in 33 years. Linden overcome bone-chilling Nor’ Easter weather conditions and an unplanned sportsmanship break 45 minutes into the race, while waiting for Shalane Flanagan, a teammate and pre-race favorite, to take an emergency bathroom break. Together they chased down the lead pack and Linden, somehow found an extra gear in the final slippery miles, cruising uncontested to break the finishing tape.

"It's supposed to be hard," Linden told reporters after her victory, shivering with a laurel wreath atop her head. "It's good to get it done."

On Tuesday, Southwest Airlines pilot, Tammie Jo Shults, calmly made an emergency landing in Philadelphia after the engine on Shults’s New York-to-Dallas bound plane exploded shortly after takeoff, spraying shrapnel into the aircraft. If that wasn’t bad enough, the explosion caused a window to be blown out and left a female passenger dead after she was partially sucked out of broken plane window for several minutes and hit by the flying debris.
The plane plummeted from 31,000 to 10,000 feet in just five minutes as panicked passengers texted their final goodbyes to loved ones while struggling to bring the ejected woman back into the plane. Despite the havoc in the passenger area, Shults kept her calm in the cockpit. She found an alternative landing strip, made a smooth emergency landing in Philly and got everyone safely to the tarmac with only one fatality and a few injuries.

Several of you shared comments with me in the aftermath. “The coordination and calm is astounding!” remarked Donna Vislocky, head of Dunedin, Florida-based DV Media and a former award-winning network news producer. “It’s just incredible what all these people
do!” Stuart Sessions, who runs an environmental consulting firm near Washington, DC said “Wow! How great to hear everyone doing their jobs wonderfully when it counts the most.”  Recollecting the movie about Sully, Sessions said, “I hope she gets the credit she deserves without the second guessing.”

In a joint statement made with First Officer Darren Ellisor Wednesday, Schults said:  "As Captain and First Officer of the Crew of five who worked to serve our Customers aboard Flight 1380 yesterday, we all feel we were simply doing our jobs."

Trust us, Stuart, she won’t be second-guessed. Listen to the actual control tower transcript.


Do yourself a favor. Turn off the news every so often and just take a look at the world around you. Everyday people are doing remarkable things each and every day. Their acts generally don’t grab the headlines or boost the ratings, but they make the world a much better place than the pundits, news media and tweeting heads of state would like you to believe.

TAGS: Tammi Jo Schults, Desiree Linden, Peter Diamandis, Rolf Dobelli, female heroes