Making Good Use of Your Time After Retirement

retirement (Photo credit: 401(K) 2013)

For some, retirement means the end of waking up early, clock-punching, tolerating crappy bosses, and losing blood, sweat, and tears in order to make ends meet. For a weathered old soul, retirement might come as a refreshing change and a gearing down of a life’s pace. More hours on the rocking chair, a trip to Vegas now and then, and all manner of recreational activities should be on the schedule of a retiree… if they bother keeping a schedule at all.

There are, however, individuals who are creatures of habit, and cannot seem make the transition from actively working person to that of a more relaxed fellow that is spending the precious remainder of their years. This can bring about a lot of restlessness and frustration, not only for the retiree, but to the people around him or her.

I had a personal experience of that sort with my father. Upon hitting his mid-sixties, he was advised by his physician to let go of the reins of his business. Not wanting to preempt his life because of stress, he acquiesced and tried his best to take it slow.

It wasn’t easy. He was still in “hungry entrepreneur” mode, and it caused no end of arguments and heated tempers with mom and my brothers, making visits to the old homestead stressful. I wasn’t about to leave things in that sorry state, and I decided to go ask around and gather up advice on how retirees can get over their “professional hangover.”

Hobbies and Crafts

All that time and nothing to do? Watching too much TV or sleeping may not be the best cure for that, as it will just make you grow a larger belly and do quite a number on your back. Assist your retiree friend or family member in finding something enjoyable to occupy their time with. Do make certain that what they are interested in doing isn’t going to cause undue risk or harm to them (good luck with extreme sports enthusiasts, though).

My dad was in the construction industry, but when he was younger, he had a thing for cars. I suggested that he take up the hobby of restoring and maintaining vintage automobiles, starting with the old Chevrolet Impala he had that was literally just rotting in our warehouse/garage.

Hang Out

Even introverted individuals need human exposure now and then, and the same goes for retirees that have hung up their guns/coat/tool belt/etc. and retired to a more quiet existence. Often, life passes like a blur before someone’s eyes, and it takes an event like retirement for one to look back and reflect on the experiences they have gone through. This is further enhanced by reaching out to the people that are still alive and sharing insights, apologies, and warm sentiments with each other.

Up until recently, relations were frosty between my dad and his siblings, and I encouraged him to reach out to the ones that were still around and make amends. Family is family, no matter what disagreements and differences of opinion you have or had. It would also help him put to rest any ill feelings between them, and that should make him sleep all the more soundly at night.

Use Your Skills for Philanthropy

You need not entirely leave or forget what you did for a living. If the skills and expertise are still relevant in today’s world (in most cases, they are), a retiree could make use of that to help society in general. This would leave a good, humanistic legacy behind, and it will inspire younger people into giving back to society when it is their turn to do so.

As I mentioned, my father was in the construction business. I shot this idea at him, and he took to it rather well. Reliving his years when he was actually behind the wheels and levers of heavy equipment, he went ahead and spent a little money on second-hand heavy equipment (he bought some surplus units off Rock&Dirt) and offered to help the local community in improving the flood-control earthworks, as flooding is a very real concern to many people in his hometown.

Have a happy and productive retirement!

About the Author

Stacey Thompson is a professional writer, marketer, entrepreneur, and a lover of weird little animals. She is based in San Diego, California, and runs a blog with her closest gal pals, Word Baristas.

The Internet’s Role in Forex Trading

The investment market has been expanding its client base steadily for many years now. Individuals from any and every occupation and background can participate in a range of trades including stock exchange, real estate, currency trade etc. Out of these the last one i.e. the currency trade or foreign exchange is the investment market which has garnered the most popularity in recent times. This new found popularity is not unfounded as foreign exchange can lead to high pay outs and is accessible to all participants via the Internet at any time. The massive participation of this market has resulted in a daily transaction of about 4 trillion USD. 

The most important factor which can help a trader to transact successfully with considerable profits in this market, is the Internet. It is this online world which has skyrocketed the market’s popularity by throwing it open to everyone, everywhere. Apart from this factor, there are also a number of forex market related benefits that are available to us, because of the Internet.

Following are listed a few such benefits:

• Research – Foreign exchange is a currency trade involving pairs of currencies from various nations e.g. currency pairs USD/GBP, USD/JPYen, USD/Euro, GBP/Euro etc. (most popular being the USD/EUR). Therefore, it is imperative that we know the major economical trends of the nations whose currencies we deal with. Here the importance of research cannot be stressed enough. It is through effective and optimum research that we can analyze all those national and international indicators that affect the currencies we trade. Thus, proper research will lead to sound analysis and accurate decision making, thereby enabling us to maximize our profit while limiting our losses. And since the Internet makes news from the remotest parts of the world available to us at the click of a finger, it is the most potent source for such research.
• Leveling the field – As mentioned above, foreign exchange as an investment market is available to one and all. There is no particular body governing or regulating the trade, hence direct participation without any middleman or forex broker is possible. Also, due to the sheer amount of money and number of players involved, it is not possible for any person or business entity to monopolize the entire market. The Internet further makes the process obstacle free and levels the field for all traders as it makes all the required information including research materials, training programs, rules and procedures available to one and all.
• Practice makes perfect – This involves one of the best forex related services provided via Internet i.e. demo account. A demo account is a virtual currency trading account through which you can invest virtual cash till you’re confident in yourself and have narrowed down on a particular trading strategy. These accounts are offered by many websites like teletrade (they offer it for free). All you have to do is to fill out the necessary details and download the relevant software (in the case of teletrade it is Meta Trade 4 or 5), and you’re ready for practice.

As mentioned earlier, the information stock of the Internet is inexhaustible, hence for further information on the subject you can look up the other available websites specializing in this field.

Author’s Bio – Alisa Martin is an investment advisor. She also regularly writes for teletrade and other popular forex and investment related websites.

Bank Checks vs. Personal Checks - Which is the Better Option?

Whenever you buy something different payment methods may be required. Some of them may ask you to pay with a bank check while in other cases a personal check may be more suitable. If you’re new to banking or just given the opportunity to handle your finances for the first time, it’s essential that you understand the difference between the two, because while they are both checks, they’re not the same thing. 

Before you can decide which one to use, it’s important that you understand the difference between them to avoid mistakes. 

Understanding Bank Checks

Bank checks are known by many names such as bank draft, cashier’s check, teller’s check or an official check. They all refer to the same thing so there’s no need to be confused. A bank check is usually considered as cash because it is withdrawn from an account and the money is immediately withdrawn. It’s the reason why these types of checks are known as guaranteed checks.

The only instance when a cashier’s check isn’t guaranteed is if it’s discovered to be fraudulent. If that happens, the bank is given a couple of weeks to revoke the money from the check. If you want to use a bank check, you have to ask for it from your bank. When you do, the funds will be withdrawn and you can sign the check. The cashier will also sign the check. This procedure is standard almost everywhere. 

Understanding Personal Checks

A personal check is payment that is drawn from your account. However it isn’t guaranteed until it’s cleared and presented by your bank. In short, there’s a bit of risk involved here compared with a bank check. 

Before you can use CheapChecksPlus you need to know a personal check’s individual components. These include the account number, routing number, signature line, the amount you are issuing, the payee, the check number, date and contact information.

 

Which One to Use? 

Now that you know the difference between the two, you’ll be in a better position to determine which one to use. Generally speaking, bank checks are more suitable for formal and legal transactions while a personal check is more appropriate for everyday dealings.

 
A personal check for instance, may be used for to pay for your utility bills, tickets to shows, your groceries, clothes and more. A personal check in short, can be used to pay for many items you usually pay for with a credit or debit card.

But there are some instances when a personal check isn’t acceptable and only a bank check will do. This usually takes place if you’re putting cash down for a property or rental pay. In addition, landlords will demand a security deposit and the rent for the first and last month to be a cashier’s money order check. In other words, a property seller or landlord wants guaranteed funds, so a personal check won’t do.

Most auto dealers accept a personal check, but for the last pay off they’ll usually ask for a bank check. Also, if your tax obligations or insurance premiums are late, you will be asked to send a bank check instead of a personal one. 

As you can see, personal and bank checks each have their own respective uses, so you need to look at the circumstances to see which one is applicable. Bank checks are essential for a lot of business tasks, but for most everything else, a personal check will be fine. But do keep in mind that the use of a personal check has been waning somewhat as more people prefer to use a credit card.

Author Bio: Gerda D. Dorsey is a freelance writer who has authored hundreds of articles related to banking, personal checks and finance. Aside from writing, Gerda also works as a consultant for several financial firms. She lives in Houston, Texas. She also recommends CheapChecksPlus Personal Checks.

The Easiest And Fastest Way to Collect Medical Debts

Are you at the point where your accounts receivables have taken over your business? Using a medical collection company may be the answer. While you are attending your clients and bringing in more business, let a collection company step in to handle collecting unpaid bills. It is a fact of business that you will encounter patients who never pay their bills, or who are late paying their bills. It can become a cumbersome business to maintain awareness of your overdue accounts. 

That’s where a medical collection company can intervene and help. First, they can focus on your accounts receivables only. That is their business, and it does not interfere with the daily routine of running your company. Second, they understand it is important they maintain your reputation and your relationship with your patients while recovering your unpaid accounts. Third, having a company deal with your outstanding accounts sends a message to your clients and patients that you are serious about your unpaid balances. It sets a precedent for future balances owed.

When attempting to collect unpaid accounts, time and resources are spent focusing on collection of outstanding balances. Hiring a collection company to recover these unpaid medical bills frees you up to generate more income and divert resources to another part of your business. A collection company can give you a guide on how and when to collect on unpaid balances. This means there is a set time to collect, which will take the guesswork out of when to go after your outstanding bills.

There are also a variety of other collection services available to you, such as commercial collections, consumer collections and judgment collections. Commercial collection services offer businesses outside the medical industry solutions to their aging account receivables problems. These services can work alongside your in-house collections department or can be used as an outsourced solution. Consumer collections are services through which unpaid accounts can be managed by an outside agency to collect unpaid balances from individual consumers. Judgment collection services assist to enforce judgment collections. While judicial judgments are assumed automatically collected, it is not always true.

When you have reached a point in your business growth where a large percentage of it is spent chasing after clients who have not paid their balances, a collection company may be the solution you need. Their services will save you time, resources and manpower and allow you to make additional revenue and promote growth for your business. Let a medical collection company assist you so you can start focusing your attention where it is needed – on your business!

Author Bio:Debbie Trandell blogs about the debt recovery industry and the prevalence of debts going unpaid in the medical world. Through research and personal experiences, Debbie highly recommends the services of the Summit Account Resolution collection agency that can be found at www.summitcollects.com/medical-collections. 

Tips on Finding the Right International Tax Accountant

It is critical to find the correct international tax accountant who will meet your tax obligations properly, provide great tax planning and avoid tax audits. This article, written by an international tax accountant in Toronto, provides useful guidelines on finding knowledgeable and experienced international tax expert.

1. Examine Your Needs

In order to find the right tax accountant, it is important to know which country’s tax laws will need to be complied with and what kind of services you require. Do you need to hire an international tax accountant in Toronto, Canada or in a different part of the world? Do you need an accountant to simply prepare your tax returns or do you need someone that is specialized in a specific area such as self-employed individuals, small businesses, and real estate? Given that different tax accountants have expertise in different tax fields, it is crucial that you select a tax accountant who will be best suitable for you. When you are aware of the services that you require, embark on your hunt. Get hold of reliable recommendations and create a list of prospective accountants. 

2. Enquire About Their Tax Field of Expertise

When considering potential accountants, you should inquire questions in-depth. It is crucial that you spend enough time and effort in selecting a tax accountant. Find out whether the services provided by the accountant fulfill your needs and whether they have the qualifications and experience necessary to accomplish the task effectively. It is important that you hire someone who is specialized in the area you need help with and has a lot of experience working with your kind of business or individuals in similar tax situations as you

3. Verify References

In order to ensure you obtain the right professional, you should always contact the references provided by the potential accountant. Speaking with a few of the candidate’s references, such as current clients, will generally able you to determine aptness of the candidate with a high degree of precision. The time and effort put into verifying the references will be rewarding in the long run.

4. Personal Relationship with the Accountant

When taking a tax accountant into service, think about whether you are comfortable with and trust this individual as they will be working with important financial data. As well, confirm if the candidate communicates well with you and completely answers all your questions. Easy and transparent communication is a must between the accountant and client!

5. Accounting Fees

Obtain an approximate fee for the services to be provided from the remaining candidates. Compare the different quotes and choose the accountant who has the qualifications and experience to accomplish the job effectively within your set budget!

Please visit madanca.com/Services/US-Canada-Tax-Accountant-Toronto to read more articles about international tax written by an accountant in Toronto.

About the Author

Allan Madan, CPA, CA, is an international tax accountant located in Toronto, Canada. Allan helps his clients with tax compliance, foreign reporting, withholding tax and inbound and outbound tax planning.

Buying a House? Before the Down Payment, Here’s the Lowdown

If you’re in the market for a new house, you've obviously gotten wind of the upturn in the American real estate market. What just a couple of years ago might have taken an inconceivable amount of risk is now finally not only for the daredevils: with the housing bubble now firmly in our rearview mirror, becoming a homeowner is a definite possibility... if you’re ready, that is.

Pre-Purchase Step 1: Know Your Facts

The Internet is full of tips-and-tricks articles about what to look out for when buying a home and more articles emerge daily that can shed light on the subject of financing your goal of a dream home. In a market still prone to out-of-the-blue sea changes, be sure to read up on the status of mortgage rates, home price hikes, and so on. 

Then, narrow your focus and hone in on the trends in evidence throughout the actual neighborhood you’re trying to buy into: find out how much houses have been going for in the past few months, so as to lower your bid against the asking price accordingly. Also, consider the quality of the schools in the vicinity of your desired school, as these kinds of details will drive your property price up in case you ever want to sell.

Pre-Purchase Step 2: If You Intend to Flip It...

… think again. Since the real estate market crashed, the Fed has been helping it rebound and we are now seeing the first signs of progress. It was slow to reach this stage, but, as it’s now being reported, the demand for houses is inching itself up to not only healthier levels, but as close to a full recovery as one can expect at this stage. As things are looking up and a so-called seller’s market is even gaining ground, the prices for real estate are nevertheless significantly lower than they were in 2007. It might actually be the right time to consider shelling out the pretty penny required for a new home - that doesn't mean that you’re guaranteed to get a return on your investment should you decide to sell in even a few month’s time...

Pre-Purchase Step 3: Enlist the Help of a Professional Lender

With some outlets tentatively putting the word of a new bubble in the making, you’re probably in a bit of a hurry to get a bid in. It’s not, however, advisable that you go through this list at full pelt and gallop toward your dream-home finish line. Skipping steps or rushing through the procedure won’t save you time - to the contrary, it can only cause you more hassle in the long run. 

A professional agent is uniquely placed to treat you fairly and take the time to explain all that’s needed for you to make an informed choice. A lender’s role is also of paramount importance: seek one out for pre-approval as soon as possible. Given the right lender, you will be counseled on how to go about the buying process, you will be informed of the price range you can actually afford (commonly 2 ½ times your yearly salary) and you will get an appraisal of both your financial history and the house you’re planning on buying.

All of this is to say, simply put, caveat emptor! For most prospective homeowners out there, this will probably be the most important purchase of their lives. The thing to remember, though, is that it needn't also be the most taxing one, on your finances or your state of mind.