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Time to make New Years financial resolutions
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Once again, it’s time to make some New Year’s resolutions. This year, in addition to hitting the gym, learning that second language and getting better organized, why not also consider a few financial resolutions?
What types of resolutions might you consider? Here are a few suggestions:
• Contribute more to your retirement accounts. The new year means that you are one year closer to retirement. To help yourself build resources for the lifestyle you’ve envisioned as a retiree, try to boost your contributions to your 401(k) or other employer-sponsored retirement plan. You can do this if you get a salary increase and devote at least part of it to your 401(k). At the same time, try to “max out” on your Individual Retirement Account (IRA). For 2012, you can contribute up to $5,000 to an IRA, or $6,000 if you’re 50 or older.
• Reduce your debts. Look for ways to cut down or consolidate your debts. It may not be easy, but it’s worth the effort because the lower your debt load, the more money you’ll have available to invest for the future.
• Build an emergency fund. If you don’t already have an emergency fund containing between six and 12 months’ worth of living expenses, start building one soon. Keep the money in a liquid vehicle — one that’s separate from your everyday checking and savings accounts. Without such an emergency fund, you may be forced to dip into your long-term investments to pay for unexpected costs, such as a major car repair, a new furnace or a large medical bill.
• Don’t overreact to volatility. In 2011, the financial markets have been volatile, with big gains followed by big drops followed by big gains — a true roller-coaster pattern. Try not to let large, short-term price movements influence your investment decisions. Many of the factors that cause jumps or declines are not that relevant to long-term results — and as an investor, you want to focus on the long term. Concentrate on building a portfolio that’s suitable for your individual goals and risk tolerance.
• Be aware of different types of risk. For many investors, “investment risk” strictly means the possibility of losing principal when the value of an investment drops. Consequently, to cut back on their risk in the face of a volatile market, they may sell off stocks and load up on certificates of deposit (CDs), bonds and other so-called “safer” investments. But each investment actually carries its own type of risk. For example, if you own CDs that pay a 2 percent return, and the inflation rate is 3 percent, you will lose purchasing power over time. And if you wanted to sell your bonds before they had matured, you’d have to sell them at a discount if the market interest rate had risen above the “coupon” rate of your bond because no one would pay you full price for them. Just be aware that no investment is “risk-free,” and try to build a diversified portfolio that can lessen the impact of one specific type of risk.
By following these suggestions, you can go a long way toward making 2012 a good year in which to make progress toward your important financial goals. So plan ahead — and make the right moves.

Cardella is a consultant for Edward Jones in Hinesville.

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GPA grows trade, market share
Intermodal volume up 20 percent
port photo
Rubber tired gantry cranes handle cargo at the Chatham Intermodal Container Transfer Facility at the Port of Savannah. The Georgia Ports Authority's Mason Mega Rail project will double rail lift capacity to 1 million containers per year by 2020 - photo by Provided

The Georgia Ports Authority achieved 14 percent growth in March container volumes, moving 355,208 20-foot equivalent unit (TEU) containers.

From July 2017 to March, TEU container trade grew by 9 percent, or 255,786 additional units for a total of 3.08 million, a new record for Savannah.

"Savannah's continued strength is a reflection of our customers' commitment, Georgia's leadership, and the many dedicated service providers, GPA employees and ILA members who come together every day to achieve great things," said GPA Executive Director Griff Lynch. "March marked our 17th consecutive month of business expansion thanks, in part, to a strong economy and growing market share."

Intermodal rail volumes jumped by 20 percent in March and 15.4 percent for the fiscal year to date, for a total of 318,454 containers handled over nine months – another record for the GPA.

"As the numbers show, our rail cargo is growing at a faster pace than our overall trade," GPA Chairman Jimmy Allgood said. "This is important because rail is playing a key role in our responsible growth strategy. We anticipate our rail infrastructure investments to take 250,000 trucks off the road each year by 2020."

The GPA recently broke ground on its Mason Mega Rail Terminal, on which the Port of Savannah will build 10,000-foot unit trains within its own footprint. From the expanded rail infrastructure at Garden City Terminal, Class I rail providers CSX and Norfolk Southern will provide direct rail service to major Southeast and Midwestern markets from Memphis to St. Louis, Chicago to Cincinnati.

An added benefit is that the Mason Mega Rail project will move all rail switching on terminal – improving vehicle traffic flow around the port.

In August, the GPA will open its Appalachian Regional Port in Murray County. Located in an industrial belt, including the production and export of carpet and flooring, automobiles and tires, the ARP will provide an alternative to all-truck transit to Northwest Georgia.

Each round-trip container moved via the Appalachian Regional Port will offset 710 truck miles on Georgia highways.

March was also a strong month for roll-on/roll-off auto and machinery units at the Port of Brunswick and Ocean Terminal in Savannah. Colonel's Island Terminal in Brunswick handled 66,144 cars, trucks and tractors, while Ocean Terminal added 4,050, for a total 70,194, a 17.2 percent increase.

"The global economy is thriving and our volumes are following suit," Lynch said. "As existing accounts grow their footprint in the expanding auto facility in Brunswick, Georgia's competitive logistical advantages are drawing additional business across all of our docks."

Lynch noted that for the fiscal year to date, Mayor's Point breakbulk terminal in Brunswick grew by 44 percent (34,515 tons) to reach 112,728 tons of forest products. At East River Terminal, bulk cargo expanded by 34 percent July-March (189,918 tons) for a total of 750,384 tons.

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