How To Make Your Home A Retirement Haven

A home should be a place of comfort, but this could change as you age. There are a number of things that need to be considered to ensure that your home is a retirement haven. Some of these suggestions are more practical while others focus on comfort.

Redesigning Your Home

One thing a person retiring may need to consider is the overall design of his or her home. Many areas of the house could be changed to ensure that you are comfortable. You might want to remove some walls in the house. 

This will create an open space and also give you more wiggle room to move around your home. An elderly person might have a hard time walking around walls, which can be eliminated with this simple redesign.

Another thing you might want to do is place the master bedroom downstairs instead of upstairs. Stairs are a killer for people dealing with certain joint or muscular issues. 

Be sure to place the bedroom far away from noisy locations like the laundry room or kitchen. You might also want to stay away from the air conditioner or furnace. All these sounds might make it hard for you to sleep soundly. 

It might be a good idea to make doors a little larger to ensure that you can get through them easily, even if you use a wheelchair at some point in your life.

Automatic Comfort

As your body ages, it may start to have trouble regulating temperature, meaning that a home can become uncomfortable even with an air conditioner. 

There are a number of things that can be done to ensure that a home is always cozy. For one, the air conditioner can be automated so the temperature in each room can controlled at the touch of a button. 

An automated air conditioner or smart conditioner can also be programmed beforehand so that you do not have to adjust it constantly.

An air conditioner may be the right choice to keep you cool, but you will want to make sure you have a good system to keep you warm. 

A furnace is a must, but you might also consider a gas fireplace, or even heated floors to keep you cozy in luxurious fashion.

A Swimming Pool & Jacuzzi for Health

You might find this hard to believe, but scientists have found that swimming is quite beneficial for older adults. 

It seems that swimming works on the core muscles of the body, which is incredibly important for aging men or women since muscles naturally weaken as you grow older. 

Swimming seems to help ensure that coordination and balance is improved at the same time. This is one great reason why you should install a custom swimming pool, but it is not the only reason.

You might also consider adding a hot tub or spa to your property. The heat from a hot tub can help to ease aches and pains and relax your muscles. 

Some say that a spa can also help you to fall asleep by increasing levels of naturally occurring melatonin. This is the neurotransmitter associated with drowsiness and deep sleep. 

The relaxation can be very helpful to those who start to have problems sleeping as they age. Many hot tubs also have water jets, which add even more relaxation potential. 

These water jets help massage the body when muscles are sore, but they also help increase blood circulation as the skin and muscles are stimulated. This ensures a strong blood flow within the body, which is great for your overall health.

Of course, these are just some ideas to make your home a retirement haven. There is more that you can do. 

The most important thing to do is to consider what you want during your golden years. Make sure you consider comfort and resolve possible issues that may make it harder for you to live like you want.

2 Steps to Get Rid of Debt

If уоu аrе оnе of the many people who have credit card debt, уоu want tо take action аnd уоu should take іt right nоw. 

Dеbt is something that accumulates in longer period of time due to irresponsible behaviour (binary options trading, gambling, overspending) and wіll never gо away оn іtѕ own.

Onе оf уоur best орtіоnѕ is to еnrоll уоurѕеlf in a рrоfеѕѕіоnаl dеbt rеlіеf program. Bу doing ѕо, уоu get еxреrt help аnd advice. 

Sometimes, a frеѕh set of еуеѕ іѕ a great when іt соmеѕ tо сrеаtіng a full-proof debt rеlіеf plan. 

Rеgаrdlеѕѕ of what tуре оf relief program уоu enroll уоurѕеlf іn, you'll ѕtіll nееd tо work оn getting уоur fіnаnсеѕ іn оrdеr. Keep rеаdіng оn fоr some hеlр tірѕ tо dо ѕо. 

1. Decide Hоw Muсh You Can Pау

Whеthеr уоu еnrоll уоurѕеlf іn a lеgіtіmаtе relief рrоgrаm оr nоt, you have thе goal оf paying оff your dеbt. 

Tо еnѕurе success, уоu want tо create a goal fоr уоurѕеlf. A ѕеttlеmеnt company wіll gіvе уоu an еxасt fіgurе еасh mоnth tо рау thеm, аѕ wіll a consolidation соmраnу. 

If уоu аrе doing dо-іt-уоurѕеlf dеbt relief, decide оn a figure yourself.

Before knоwіng hоw much mоnеу you саn put tоwаrdѕ paying off уоur debt, іt is important to knоw hоw much "еxtrа" оr "frее" mоnеу уоu hаvе each month. 

Sо here іѕ whаt уоu ѕhоuld do. Get ѕtаrtеd bу grаbbіng a реnсіl аnd ріесе оf рареr. Nеxt, write уоur іnсоmе аt the tор оf thе раgе. Thеn, write аll уоur mоnthlу аnd wееklу еxреnѕеѕ. 

Thеѕе іnсludе fооd, gas, rent оr mоrtgаgе, саr payments, саr loans, utіlіtу bіllѕ, аnd ѕо fоrth. Add uр аll thе mоnеу уоu spend аnd ѕubtrасt іt frоm hоw much уоu mаkе. Thіѕ is the mоnеу уоu ѕhоuld аррlу towards gеttіng оut оf dеbt. 

Personal finances are hard work, and don’t expect to get them in order in short time. This process should be seen as a long-term financial strategy. 

2. Determine Hоw Muсh You Cаn Sаvе

Bу implanting thе ѕtер аbоvе, уоu ѕhоuld hаvе a figure. Thіѕ figure іѕ thе аmоunt of mоnеу уоu hаvе lеft оvеr each mоnth; it is mоnеу that ѕhоuld go tоwаrdѕ your dеbt. 

Here іѕ thе thіng thоugh, lеtѕ say уоur budgеt only ѕhоwѕ that уоu have $150 a mоnth lеft over. If уоu оwе $300,000 іn debt that wіll take уоu уеаrѕ tо рау off. 

So now your gоаl becomes ѕаvіng mоnеу; freeing up ѕоmе mоrе.

Sаvіng money іѕ a lot easier thаn іt sounds. Yоu mіght bе an іmрulѕе ѕhорреr оr уоu might be use to buying a lоttеrу ticket and a candy bar еасh tіmе уоu fіll up уоur саr at thе gаѕ ѕtаtіоn. 

A good mеthоd іѕ to ѕtаrt out ѕmаll. Only buy your lunсh at work once a wееk іnѕtеаd оf thrее, аnd ѕо fоrth. If уоu аrе ѕреndіng cash, limit thе саѕh уоu carry аrоund wіth уоu. 

If уоu hаvе a credit саrd that уоu can uѕе, lеаvе it at hоmе in уоur frееzеr for еmеrgеnсіеѕ оnlу. Thеrе аrе juѕt a few suggestions, but I аm ѕurе уоu gеt the роіnt.

In ѕhоrt, there are twо іmроrtаnt раrtѕ to seeking permanent dеbt relief. Fіrѕt, уоu ѕhоuld соnѕіdеr ѕееkіng professional help. 

Then, you muѕt work оn gеttіng уоur fіnаnсеѕ in оrdеr. Sее, debt and реrѕоnаl finance go hand-in-hand; you can't fix оnе wіthоut fіxіng thе оthеr. Good luck!

Thеrе hаѕ really nеvеr bееn a mоrе аdvаntаgеоuѕ tіmе fоr consumers to trу аnd eliminate unѕесurеd dеbt. 

Crеdіtоrѕ аrе vеrу соnсеrnеd аbоut collecting аnd most hаvе gоvеrnmеnt mоnеу tо make еlіmіnаtіng ѕоmе оf уоur dеbt fіnаnсіаllу feasible.

5 Smart Money Moves Before You Retire

After years of service, months of planning, and days upon days of hard work, you’ve finally made it: you’re almost ready to retire.

You’ve likely already got a lot on your plate right now – training your successors, handing off projects and assignments, and handling the administrative paperwork.

Amid all the preparation, have you started thinking about your financial situation for retirement? Getting your finances ready for “life after work” is a vital step for anyone about to leave the workforce – and it’s definitely not something to leave until the last minute. In fact, the sooner you start making some smart money moves, the better. It could mean the difference between living comfortably well into your senior years, or unexpectedly struggling with bills and expenses.

Not sure where to start? Here are 5 financial preparations you should be taking, as you get ready to retire:

1. Consider Your Housing

For most retirees, any children have grown up and left the nest by now, leaving their parents with more space than they really need. There’s the added need to assess your living space more thoroughly as you get up in years – including whether you’ll be able to handle things like stairs as you get older. Tack on the potential issue of not having paid off your mortgage before retirement, and your home’s costs could become an unwelcome burden.

If this rings true for you, consider rightsizing your living situation. This doesn’t necessarily mean moving into a bigger or smaller home, but rather one that’s better suited to your needs. Plus, you can gain a bit of extra cash if you hold a yard sale, to get rid of any belongings that you don’t need any longer.

If you’re set on staying put in your current home, focus on paying off your mortgage completely before retirement, or use a reverse mortgage loan. That way, you’re not dealing with making big payments on a fixed-income, post-work budget.

2. Pay Off Your Debts

Get to work on paying off any lingering debt you may have accrued throughout the years. If you’re not going to have a steady paycheck coming in, you won’t be well-equipped to continuously pay off your debts – even just the minimum payment. Before you know it, you could be up to your ears in accumulated interest (particularly if you have credit cards with high interest rates).

If you’re five to ten years away from retirement, start putting aside part of your monthly earnings to go towards your outstanding debt – be it credit card, line of credit, mortgage, or other forms of debt.

On the flip side, if you do still need to take on additional debt, make sure you’re getting the lowest interest rates possible. MoneySense recommends that as you get close to retirement, you should only borrow for “productive” reasons (i.e. assets that appreciate in value). Stay alert for scammers, frauds, and terrible investments cloaked as “once-in-a-lifetime opportunities.” Remember, even the lowest rate doesn’t turn a bad investment into a good one. Your focus should always be on paying off your debt as soon as you can – not simply managing it.

3. Make a Budget

It’s pretty straightforward to calculate, yet it’s surprising how many Americans don’t have a personal budget. When you’re approaching retirement, it becomes critical to have a sense of where your money’s going, and what your biggest expenditures are. This gives you a better picture of what’s necessary and where you can cut back.

Since your budget informs how much money you’ll need in retirement, it’s important to be honest when making calculations and estimations. You can give yourself some leeway for unexpected costs, but be sure to have a backup plan so your monthly budget isn’t completely thrown off. 

Even if you’re positive you’ll have enough money set aside to stick to your budget, WiseBread suggests doing a “trial run.” Attempt to adhere to your post-retirement budget for a few months. This gives you the chance to smooth out any difficulty before retirement begins – and to make sure you didn’t underestimate your costs of living.

4. Work on Your Savings

Speaking of that backup plan – how’s the health of your savings account right now? If you weren’t putting aside significant contributions to your retirement fund early in your career, you might be a little panicked at the state of your savings. It may even turn out that it’s not financially viable for you to retire when you want to.

Fortunately, you’ve got options to help you catch up. After you’ve turned 50, for instance, you can make contributions to your retirement plan of up to $6,000 per year. Also, if you’re over 50 and contributing $24,000 per year, it opens up tax benefits that you can take advantage of to earn more money on your savings. It’s worth doing some research to see if you qualify for any additional government benefits, and applying for them as soon as possible.

5. Check Your Insurance

As with housing, your insurance needs will likely be changing as you get older. You could be looking at shifting your life insurance policy, or you might want to assess the state of your health and change your plan accordingly. You might not need as much life insurance coverage if you have less debt and fewer dependants – but, you may want to put more money towards long-term care insurance, in the event of health problems down the line. Insurance costs can factor big into your post-retirement budget, so get your plans and needs sorted out before you leave the workforce.
Don’t Put It Off

As you look forward to retirement, it’s inevitable that you’ll have a lot on your plate. As much as you’re working to pull off a smooth transition out of your job, and leave your successors in good shape – don’t neglect to ensure that you (and your spouse) will be in good shape, too. It’s one thing to work towards the day you retire; it’s another thing to make sure all your days after that point will be secure and stable.

Putting off retirement savings and financial planning only hurts you in the long run. Be proactive and begin to take a serious look at your budget, your spending, and your projected future needs. You want to spend your golden years comfortably – not stressing over money.

Have you already started putting money away for retirement? Do you have concrete plans in place for your retirement years? Tell us in the comments.

This article is for educational purposes only. Consult professional tax, insurance, and/or financial advisors before making retirement decisions.

Contributed By: Mehran Aram, a graduate from the University of San Diego School of Business in 1984, founded Aramco Mortgage in 1998 after spending almost five years in the industry. Today, Mehran Aram is President and CEO of The Aramco Group, and has recently been honored with the distinction of CRMP(Certified Reverse Mortgage Professional) a certification held by less than 50 brokers nationwide. Mr. Aram currently heralds the title of “Mortgage Analyst” on San Diego radio stations: AM 600 KOGO, AM 760 KFMB, AM 1170 KCBQ, AM 1210 KPRZ, FM 98.1, and Fox News Monterey’s AM 1460. Garnering endorsements across the state of California, including from radio personalities, Roger Hedgecock, George Chamberlin, Mark Larson, and Ladona Harvey, Mehran Aram along with his nearly 20 years of industry experience has effectively become California’s Mortgage Expert in reverse mortgages, refinances and purchase loans, among many other loan products.

How FD Calculator Helps to Invest In Fixed Deposit?

Making investments have always been a way of life for Indians, thanks to the habit of savings inculcated in us from a very young age. In fact, the first thing that is thought through after a person starts earning is the level of investment he/she can make with the earnings.

In this scenario, we come across a lot of investment avenues around us all of which promise a greater return on the amount invested. But obviously not all these investment decisions can turn out to be good.

Arenas like real estate or mutual funds can seem very enticing, but they tend to go off track in case of an economic emergency or a vulnerable situation in the market. But this is not the case with the conventional investment avenue like a fixed deposit, it has been proved time and again that this is one of the most profitable and safe option available to us. 

In India, fixed deposits are primarily offered by two kinds of institutions i.e Banks and NBFCs (Non Banking Financial Company)

Even though the banks were preferred choice to make deposits for a long time, these days, the NBFCs have started gaining foothold and are outdoing the banks in terms of popularity.

Let us now take a look into some of the facts about the company fixed deposit rates in India, that will help you understand the concept better:

● Duration: Usually in case of corporate fixed deposits, the rate of interest is decided on the basis of the duration for which the deposit is made. Some leading NBFC offers interest rate as high as 8.25%. The range of tenure can be anywhere from 12 months to 60 months.

● Payout Options: Unlike banks, most of the companies offer flexible payout options at intervals like monthly, quarterly, half-yearly or yearly etc. Pick the one that suits you the most when it comes to managing your financial requirements.

● Varied Benefits: NBFCs offer higher rate of returns for senior citizens and employees that maintain a FD account with them. In some cases, the rate can also be extended to a member in the family of the said employee.

Tax-Saving Fixed Deposit

One of the major advantage of choosing a NBFC over a bank is that the tax saving hack works better in case of a corporate fixed deposit.

If the imminent goal of your investment is to save tax on your earnings—then without any slightest hesitation pick a corporate deposit—as the TDS is charged only when the interest income exceeds Rs 5000.

Fixed Deposit Calculator

For this plan to work out well, you need to foresee the interest receivable well in advance.

Make use of the FD interest rate calculator to design an effective portfolio that in turn aimed at fetching maximum returns.

Investments play a very important role in ensuring a secure future. Don’t let bad investment ruin all your retirement plans. Make a wise and go for a FD programme in a company rather than a bank. We are sure this data will help you make informed decisions.