​by Kristi Hawthorne

Mike Napoli grew up in an Italian family in Los Angeles. One of his earliest memories is standing on a soda box at the age of five running the cash register at the family business, Tony’s Market and Laundry Mat. 

Today he and his wife Cheryl are the proud owners of their own family business, Port of Subs, since 2003. And while it may be a franchise, the Oceanside restaurant is just one of two in San Diego County. 

In our last episode I introduced you to the seven retirement killers: Taxes, inflation, market losses, major medical illness, a late start to saving, college for your kids, and the death of a breadwinner.  In this issue, I’m going to focus on taxes.  
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If your retirement money is taxable, you can’t possibly know how much money you will have in retirement.  That’s because you have no idea how high taxes will be when you retire.  Which means, you don’t know how much of your money the government is going to let you keep.

by Marva Bledsoe, Business and Community Political Action Committee

At a recent meeting of the Oceanside Chamber of Commerce’s Emerging Issues Committee, Ray Major, an Economic Analyst for the San Diego Association of Governments (SANDAG) provided a status report from the San Diego Forward Regional Plan, including a review of TransNet projects.
What do we want our region to look like in 2050? Where will we live? How will we get around? How can we grow in a way that fuels our economy and preserves our environment, takes everyone’s needs into account, and still maintains our quality of life? San Diego Forward: The Regional Plan tackles these questions and provides a blueprint for a sustainable future for the San Diego region.  TransNet is the voter-approved half-cent sales tax administered by SANDAG.  To date, $3.3 billion in TransNet funds have been leveraged with more than $10 billion from federal, state, and local funding sources to deliver more than 650 projects throughout the San Diego region.

The number one financial concern for all Americans, is having enough money for retirement.
Unfortunately, the vast majority of Americans will run out of money in retirement, if they live long enough, and here are the seven reasons why.  I call them the seven retirement killers, because any one of them can kill your retirement plan.  If you have any combination of them, you will very likely run out of money in retirement.

Tracey Bohlen, City of Oceanside Economic Development Manager
 
Two years ago, the five cities located along the Highway 78 corridor - Oceanside, Carlsbad, Escondido, San Marcos, and Vista - launched Innovate78.  Innovate 78 is an economic initiative designed to increase prosperity through collaboration. Under Innovate 78, the five cities pledged to work together to attract and retain business and to not undermine each other’s economic interests.
 
Innovate 78 grew from the realization that the five cities along the 78 Corridor have much in common and can benefit by collaborating to promote common business interests, whereas competing against each other could drive businesses, jobs and investment dollars away. 

A quick overview of what was covered in the Oceanside Chamber’s March 2016 Emerging Issues Committee Meeting.

By Amber Ter-Vrugt

Jennings – US Chamber – priorities for 2016!
The Transpacific Partnership, a free trade agreement with 11 other nations along the Pacific Rim, is the #1 priority for the US chamber! This will open up trade markets for the US that never existed before.
Other priorities include regulatory reform, tax reform, and combatting harmful legislation.
Regulatory Onslaught…63 federal agencies have 3,305 regulations at various stages of implementation
Two major regulatory rules that are coming down the pike…

1. The Overtime Rule increases the minimum salary threshold for exempt employees from $23,660 to $50,440… so basically a 113% increase, or you have to make those employees hourly employees. California is a little different; our baseline is a little higher than the Federal average, but this rule would still have a huge impact on businesses with full-time employees that make less than $50K!!
2. The Fiduciary Rule which will come on line in spring 2016 was intended to help keep the “bad-actors” out of the financial planning business, but it basically makes it tougher for investment advisors to do their job and opens up more opportunities for litigation which helps no one.