Last week, I wrote about the importance of listening.

Interestingly, the Scripture lesson for Sunday's service was James 1, verse 19, which states, "Wherefore, my beloved brethren, let every man be swift to hear, slow to speak, slow to wrath."

Perhaps the No. 1 attribute to being a good listener is to pay attention to what is being said, without regard to formulating an answer. Also, becoming an effective listener means slowing down how much we talk; let others speak.

Of course, the electronic world we live in doesn't make this easy. Many teens and millennials, as well as some parents, won't put down their cell phones or tablets long enough to have face-to-face conversations.

Jim, my husband, and I were in a restaurant recently, and we saw a family of four having dinner — no one was talking with each other; they were all busy on their phones. This isn't family time at its best. 

In some restaurants, servers are so busy on their phones, they ignore their customers. This isn't customer service.

Teaching, in this age of electronic devices, also has increasingly become a challenge. One of my nieces told me that in one college class it was an automatic "fail" for the day if the professor caught anyone with a cell phone or tablet out.

This seems appropriate, given the lack of attention many students pay while looking at their phones; and apparently cheating during tests has become rampant with these devices.

Why don't we turn off electronic devices and enjoy the company of our families, friends and neighbors? This week, pick a day and unplug yourself from the electronic leash.

Enjoy the sunshine and rejoice in all the blessings the Lord has bestowed upon you and your family.

Janice Lynn Crose lives in Crestview with her husband, Jim; her two rescue collies, Shane and Jasmine; and two cats, Kathryn and Prince Valiant.

This article originally appeared on Crestview News Bulletin: CROSE: Pick a day to unplug from life's distractions

As you’re well aware, we’re living in difficult economic times.

Consequently, you may be forced to make some financial moves you wouldn’t normally undertake.

One such move you might be considering is taking out a loan from your 401(k) plan — but is this a good idea?

Of course, if you really need the money, and you have no alternatives, you may need to consider a 401(k) loan.

Some employers allow 401(k) loans only in cases of financial hardship, although the definition of “hardship” can be flexible.

Many employers allow these loans for just about any purpose. To learn the borrowing requirements for your particular plan, you’ll need to contact your plan administrator.

Generally, you can borrow up to $50,000, or one-half of your vested plan benefits, whichever is less. You’ve got up to five years to repay your loan, although the repayment period can be longer if you use the funds to buy a primary residence.

And you pay yourself back with interest. However, even though it’s easy to access your 401(k) through a loan, there are some valid reasons for avoiding this move, if at all possible.

Here are a few to consider:

• You might reduce your retirement savings. A 401(k) is designed to be a retirement savings vehicle. Your earnings potentially grow on a tax-deferred basis, so your money can accumulate faster than if it were placed in an investment on which you paid taxes every year.

But if you take out a 401(k) loan, you’re removing valuable resources from your account — and even though you’re paying yourself back, you can never regain the time when your money could have been growing.

• You might reduce your contributions. Once you start making loan payments, you might feel enough of a financial pinch that you feel forced to reduce the amount you contribute to your 401(k).

• You may create a taxable situation. Failure to pay back loans according to the specified terms can create a taxable distribution and possibly subject the distribution to a 10 percent penalty.

• You may have to repay the loan quickly. As long as you continue working for the same employer, your repayment terms likely will not change.

But if you leave your employment, either voluntarily or not, you’ll probably have to repay the loan in full within 60 days — and if you don’t, the remaining balance will be taxable.

Plus, if you’re under age 59½, you’ll also have to pay a 10 percent penalty tax.

Considering these drawbacks to taking out a 401(k) loan, you may want to look elsewhere for money when you need it.

But the best time to put away this money is well before you need it. Try to build an emergency fund containing at least six to 12 months’ worth of living expenses, and keep the money in a liquid vehicle.

With this money, you’re primarily interested in protecting your principal, not in earning a high return.

A 401(k) is a great retirement savings vehicle. But a 401(k) loan? Not always a good idea.

Do what you can to avoid it.

This article was written by Edward Jones for use by your local Edward Jones financial advisor.

This article originally appeared on Crestview News Bulletin: SHANKLIN: 401(k) loans — the last resort?

Next week, we observe Labor Day, which honors all the hard-working men and women in the United States.

As an investor, you’d like to think all your investments are working hard, too — including the ones producing income. But can your income-oriented investments be productive when short-term interest rates are at historic lows? Or can you find other investment possibilities that could potentially boost your cash flow?

The answer to both these questions is yes — but you may have to take a closer look at where you stand on the risk-reward spectrum.

For example, you might need to consider longer-term income producers, which typically pay higher yields than shorter-term equivalents. Longer-term fixed-rate securities, such as bonds, must pay these higher rates to reward investors, who face interest-rate risk — possibility that interest rates will rise, causing the existing bonds' value to fall — and inflation risk, the threat of losing purchasing power by the time long-term bonds have matured. Still, you may be willing to accept these risks in exchange for higher yields.

However, you may be looking for income producers that can work hard for you without having to hold them for a long period to maturity. This is because the “yield curve” — the line that plots the relationship between yield and maturity — is fairly steep right now, which, in English, means you can gain noticeably higher yields by modestly increasing your investments' maturity.

Your financial adviser can suggest some short-term and intermediate-term vehicles that may be appropriate for your needs. While these rates will still not be as high as those offered by longer-term vehicles, they do offer flexibility — along with less interest-rate risk and inflation risk.

You can also help protect yourself from these risks by building a “ladder” of short-, intermediate- and longer-term bonds and certificates of deposit. Your ladder can help you weather changing interest-rate environments. When market rates are low, you’ll still have your longer-term bonds and CDs earning higher interest rates. And when market rates rise, you’ll be able to reinvest your maturing short-term investments at the higher levels. If you need the cash, you can liquidate the maturing bonds and CDs.

Thus far, we’ve only looked at fixed-rate investments — but you may also be able to boost your income by owning dividend-paying stocks. Some companies have paid — and even increased — their stock dividends for many years in a row. If you’re not in need of the cash, you can reinvest the dividends and boost your ownership stake, which is a key to increasing your wealth. But if you do need the money, you can take the dividends as cash.

Keep in mind that income producers are not a “sure thing” because companies can decide to reduce, or even discontinue, their dividends at any time. In addition, history tells us that you may experience more price volatility from stocks, and they can be worth more or less than the original investment when sold.

As you can see, you can find ways to keep income-producing investments working hard for you, despite prevailing low interest rates. So consider your options, weigh the risks — and then work with your financial advisor to make choices right for you.

This article was written by Edward Jones for use by your local Edward Jones financial advisor.

This article originally appeared on Crestview News Bulletin: Keep income producers working hard — even when rates are low