Early Investments Help You Financially after Retirements

In the past workers were enjoying the security of the pension plan, however today they are not that fortunate. These days it’s up to each and every worker to make preparations for their own retirement, meaning that they have to do some serious planning. Each one of us can enjoy a happy and a much financially secure retirement, however it is very essential to start preparing for it as early as possible.

Take Advantage of the Tax-Deferred Savings

“If you have an access to the 401k plan at your place of work, consider investing in it as much as you can really afford.

• A 401k plan normally provides an opportune way of saving for your retirement and also reduces the current income taxes. 
• That normally means that if you usually get refunds, investing in 401k boosts the size of that particular refund. 
• If you owe money, the 401k reduces what you owe and to some extent tips the scales back to the refund.
• In addition to the upfront tax savings, the cash that you invest in 401k accumulates on a tax deferred basis, denoting that the amounts are only taxed when you receive it once you retire.”

Ramp-up The Contributions

“If the 401k plan has an automatic escalation feature, make use of that benefit.

• An automatic escalation feature normally increases the percentage of your contribution each year until the maximum that has been set by the plan. 
• That makes investment for your retirement automatic and painless, eliminating the biggest impediment to investing in 401k plan in your firm. 
• Avoid the inactivity when it comes to the 401k plans, signifying that you never adjust the contributions to account for the raises and a change in financial situation.
• Placing your savings on an automatic escalation feature helps you to save more therefore accumulating a much larger retirement portfolio.”

Invest steadily

“Invest in dependable and steady stocks, and then leave your investments alone.

• Some blue chip companies like AT&T or even Ford, had been in occupation for decades, and they have consistent and steady growth every financial year, making them a great opportunity for investing. 
• Leaving your invested stocks alone ensures that you are giving them enough time that they require to perform to the fullest.”

Mutual Fund

“Make sure that you contribute more frequently or even annually to a mutual fund.

• A mutual fund is one of the safest long term investment opportunities that you will ever have, with yields above 10% common.
• In many cases, you can withdraw your mutual funds without penalty as well as contributing to it as often as you may like.”

Agency Bonds or Treasury bonds

“Buy either the U.S. Agency Bonds or Treasury bonds.

• Treasury bonds are normally guaranteed, but with lower interest rates. 
• Agency bonds issued by the government agency rather than the Treasury are never guaranteed, but have much higher interest rates.”

Set Up Goals

“Set up a step by step plan.

• Financial experts recommend that you set up your goals based on where you actually want to be 9, 6 and 3 years before getting to the retirement age. 
• This gives you enough time to plan as well as execute your ideas and would let you modify your plan if it becomes hard to meet these goals.
• Step up the speed of your plans as you approach the retirement age. 
• Increase the frequency and the amounts of your contributions, and keep investing in additional stocks.” 

Pay Off Your Debts

“Come up with a good plan of paying off all the debts that you owe long enough before you retire.

• This should be your objective of going into retirement without outstanding credit card debt; however you should also finish paying for your mortgage prior to retirement.”

Decide how much wealth you require to live comfortably

“Think about your day to day expenses, but make sure that you add things that you will want to do in the future that you aren’t doing now, such as pursuing a hobby or even traveling.

• Take into consideration the price changes and inflation, and do not forget to plan for the unforeseen circumstances.”

Opt For Financial Planner

“Consider looking for some help from a financial planner who will help you to set up a good savings plan and investment.

• This is very significant if you have little or no knowledge about the finances or if you’re looking to invest in large capital quantities and need the assistance of a professional.”

Crunch The Numbers

“The Internet has very useful tools available that can help you to figure out exactly how much you should be saving.

• These tools are very simple to use. You just input what you want to be saving every month, and they calculate the estimated worth.”

Level Of Risk

"Make sure that you know your actual level of risk.

• If you are conservative with your money you will need to set up smaller goals. 
• People who are willing to risk can make loftier goals however they need to be much aware of their chances. 
• Knowing your exact comfort level is the key to determining the plans and goals that you have once you retire. 
• Assess your financial situation and commitments that you currently have will help you to determine the amount of money you need to put towards your retirement.”

Avoid Market Timing

“Even major experts in this industry have some troubles calling bear and bull markets, so your chances of getting everything right every time is very small.

• People who try to time the markets usually end up getting in and out of it at the wrong time, and that can eat their profits in a long term. 
• It’s always good to use the dollar cost averaging approach meaning that you invest a similar amount of money every month, despite how the stock markets are doing. 
• This will allow you to accrue more shares when the stock market is down and profit when it recovers.

See your accountant, financial planner or call axa insurance contact number for more objective opinions on how you can save your money for retirement. You may not see some areas of your normal budget to cut more retirement money; however these professionals will convince you otherwise and can give you a much clearer picture of all the options that you have.”

How to Stay Organized After Retirement

In many cases, retirement means moving to a smaller living space. Even if you're not moving, it is still a good time to think about getting organized. Taking on a task this daunting does not have to be overwhelming. Here are five tips to make the process a little easier. 

Hobbies

Finally you have the time for the hobbies you always wanted to pursue. Whether it be sewing, woodworking, or some other craft, you will need an organized workspace. There are many creative ways to store your materials. Take advantage of inexpensive pegboard, or use a tension rod with shower curtain hooks for hanging supplies. Tackle or jewelry boxes are great for small items. An organized space will make you feel more inspired as you work on your new hobbies.

Grandkids

Your children will probably drop your grandkids off from time to time. Keep a couple of easy access bins with art materials, games, and books for them to enjoy while visiting you. Perhaps bring out a couple of toys from their parents' childhood. They'll love seeing what their moms and dads played with as children.

Memorabilia

No doubt you have kept toys, school papers, and artwork from when your children were growing up. Grown children are often reluctant to store their childhood memorabilia. Try inviting them over and going through the boxes together. You can sort out the things that really mean something to them, and perhaps create a couple of scrapbooks they will want to bring to their own homes.

Creative Storage

You will have to use the space in your home effectively as you get more time in it. Buy under the bed storage bins for seasonal clothes. Space bags are great for blankets and holiday linens. Take advantage of wicker shelf baskets and ottomans with storage inside. Try finding new ways to keep everything you need organized and at hand.

Storage Units

You may find that your new space is just not large enough to accommodate some of the things that you are not ready to let go of yet. Storage units are abundant, inexpensive and climate-controlled. San Diego self storage units are also a great option for recreational items like fishing or camping supplies, or any extra antique furniture that are taking up too much space.

Once you have your home organized and clear of clutter, you will be ready to fully enjoy your retirement. Having your life in order will give you the sense of calmness and freedom that you have waited for.

Family Secrets: Ways to Make Your Family History Research Possible

Looking into the past can bring your entire family closer together and give all of you a better understanding of where you come from. With websites like CensusRecords.com and other easily accessible genealogy resources, doing in-depth family research has never been easier or more rewarding. Just a few clicks of your mouse can lead you to a wealth of family secrets and stories that that can in turn, help you discover who you truly are.

Outline What You Want to Find Out

Focus on basic information first. Before you look into the background of individual family members, write down their full names and any other relevant details you can find. The more you know about your ancestors, the easier it will be to get accurate information about them online. In addition to recording names, come up with dates or approximate timelines for life events that are the most likely to have corresponding documents.

Find Documents You Have

Take a closer look at family records and pictures that are stored in your home. Family scrapbooks and photo albums can be full of valuable details you can use to find new information on the Internet. Don't overlook any documents you may have as well from marriage and birth certificates to newspaper clippings.

Do Some Digging

Use dates to find leads. Because you can search documents and photographs online with dates and keywords, looking up annual records can be an easy way to find leads when you are short on other information. For example, you can look at the US 1940 census if you have an idea of where one of your relatives was married in the early 1940s. Once you find that information, it can in turn lead you to private addresses, pictures of official documents, and other important details.

Get Organized

Remember to come up with a way to document and organize your findings as you make new discoveries about the past. Family stories can take many surprising turns, so you want to be ready to keep track of any interesting details you find as you continue to move back in time. Putting together a family tree on paper or online is a good place to start, but you might also want to get a separate album that you can use for collecting new stories, photographs and documents. If you run into a dead end, take some time off to look through your personal records and contact other family members. You never know when you might stumble on a hint that can send your search in a whole new direction.

When you are looking into your own past, it can be a great way to stay connected to family both those who are gone and some closer to home. Use the resources you have to make your own family tree.

How To Save Money On Technology For Your Home

Technology purchases can be expensive, but they don't have to break your budget. With some common-sense techniques, you can get the technology you want without overspending. Let's look at a few ways to save money on technology purchases for your home.

Do Your Research

The most effective way to save money on any technology purchase is to shop around before you buy. Prices can differ greatly among electronics stores, and brick-and-mortar stores don't always have the best deals. Be sure to check online retailers as well; they often have competitive prices and free shipping. When shopping for cell-phone plans and cable packages, it's equally important to check out multiple providers and compare prices.

Be Patient

If you can manage to postpone your purchase for a while, you can often save money by waiting for the item to go on sale. The best deals on electronics can be found on Black Friday for in-store purchases, and Cyber Monday for online shopping. While you'll get the biggest savings on big-ticket items like TVs and computers, even smaller purchases like cordless phones can be had at a discount during sale periods.

Only Buy the Features You Want

It's easy to get sucked into expensive cell phone and cable packages that have more features than you really need. For example, you might feel that getting all the sports channels from Bell is a must, but the premium movie channels are less important to you. If you don't text often, the unlimited texting plan isn't going to be worth the cost. Be sure to carefully review the features of any product or plan before making a commitment.

Buy Used Models

With more and more people upgrading their electronics items after only owning them a short time, it's become easier than ever to score a deal on a used item in excellent condition. Refurbished items are also a great way to save money and still get a high-quality item. Even though it can be hard to avoid the temptation of upgrading to the latest model, the cost savings of buying used or refurbished electronics makes the minor sacrifice worthwhile.

As you can see, it's unwise to rush into a technology purchase for your home; a little time, research, and flexibility go a long way. Armed with these tips and some self-discipline, it should be easy to get the most bang for your buck the next time you shop for electronics or technology!

Aussie Startups in Need of More Government Support for Success

The coming federal elections in Australia seems to have amplified just about every issue on the political agenda, while also making advocates of various causes all the more vocal and outspoken. Australia’s startups, for one thing, are expressing their intention of becoming a more central pawn, on the country’s economic chess board. This view is not without just reason, as Australia’s economy is a worthy topic for debate, especially in the face of an approaching election poll, set to happen in under three weeks, as of the date this article was written. Factor in all the recent talk about Australia becoming a major digital economy at a global level, by 2020, as well as the figures, which say some 60 per cent of the country’s workforce is employed by a company with 5 staff members or less. If there was ever a time for small, emerging companies to get their voice heard down under, then now seems to be it, by all accounts.

This view was also substantiated by a report published earlier in 2013, following research conducted by one of the world’s leading financial analysts. The report, paid for by the Australian branch of search engine giant Google, attested to the startup sector’s immense potential for growth. According to the research, in two decades, Aussie tech and IT startups might be able to rake in $109 billion for the country’s economy. That’s about 4 per cent of Australia’s gross domestic product, a sizeable ratio further improved by the 540,000 new jobs tech startups stand to create by 2033. Optimistic as these stats might look, they are still dreams scribbled onto a piece of paper, without some serious effort from the educational sector, major corporations, the federal government, as well as the entrepreneurs themselves – the same report concluded.

Australia is known worldwide as fertile grounds for startups. Its Internet access rate is good, as is the tech literacy standard of its population. What’s more, local small businesses also have access to facilities that stand to lower their overheads. Several companies, for instance, now choose to rent out serviced office space in Sydney, in order to avoid paying long-term rent for no good reason. They only employ a small number of workers, outsource most tasks and only need a business location for meetings and conferences. The digital communication sector has also been awarding facilities for companies just starting out. All is well, it seems; so, then, why aren’t Australia’s startups doing better?

For some, that reason is to be found in current government policies. The serving Prime Minister, Kevin Rudd, also spoke recently on this topic. Rudd explained that Australia needs to be ‘smarter’ about the facilities it puts at the disposal of entrepreneurs. The model does seem to work, if one were to judge by the example of a digital publishing startup which made headlines in recent weeks. The company managed to raise a massive amount of money for initial capital purposes, and the bulk of that partially crowd-funded amount came through as a government grant. The business, which bases most of its activity in the cloud and aims to serve as a quick publishing service for desktop and mobile devices, raised no less than $785,000.

Of course, the company’s managers are wiser than to place all their eggs in a single basket. News of receiving the government grant came in right after they had return from a Berlin accelerator program for startups. The rest of the money came from investors, with over 50 per cent of the remainder donated by a syndicate of Brisbane-based angel investors. The entrepreneurs say most of the money will go into scalability improvements, as they aim to have the company go global as soon as possible.

How Are You Going to Pay for Your New Car?

When it comes to being over 50 and wanting to maintain the same lifestyle as you did in your 30s, budgeting and smart planning are your most important tools in this endeavor. Sure saving some weekly cash is a good alternative when you want to purchase something more substantial, but is that really going to get things done?

Are you interested in buying a car? If you have already chosen the desired model, all you have to think about is finding the most advantageous method of payment. Funding opportunities are own resources, bank loan or finance lease.

Since a car is a perishable good, irrespective of the acquisition, the cost should be minimal, while the ratio between quality and cost should be balanced. Thus, given the fact that “own resources” requires no further explanation, let’s go straight to the other two versions and ask the million dollar question: what is the difference between credit and leasing? Both options involve purchasing property in monthly installments. 

The difference between loan and lease

Unlike a financial lease, in the case of a bank loan, the owner of is the client (user) and the loan is paid in monthly installments (comprising a share of the purchase value of the property - including VAT, interest rate and borrowing fees).

In the case of lease, the owner is the leasing company that transfers the right to use to you, through a rental system, at the end of which, if you paid every installment on time, you will also become the owner of the car.

How’s the car loan market?

According to credit bureau Experian, nearly 85% of new-car buyers in the second quarter signed up for a loan or lease to fund their purchase. And car dealers had a lot to do with this impressive number (the highest since 2006) since they are offering incentives such as low-interest financing. But experts tell us to pay attention since on paper things might not be the same as verbally agreed to, especially with all the unscrupulous dealers out there who would say anything to make a sale.

Furthermore, the guys at Motive Auto Finance warn us about the “unholy” practices of certain auto dealers. They act like a middleman for car lenders. In order to make even more money, some dealers will offer you a higher interest rate than what they are actually paying to the lender. Known as the “dealer markup”, this “bonus” can add an additional 3% in interest, thus increasing the cost of your car. And it is perfectly legal to do so, with only a few states having specific regulations in order to limit how much a car dealer can markup rates.

Pushing for add-on services is no surprise. Dealers will try to sell extended warranties or supplemental insurance, causing your monthly payments to increase. Remember that these products are optional and if you don’t want them you shouldn’t be persuaded in purchasing them. A good idea is to contact your insurance company for further information.

Another thing you should consider is that certain banks are now offering loans at below the RBI-mandated base rate. They have taken advantage of a “grey area”, using special schemes to offer luxury car customers auto loans at 9-9.15%, which is below its base rate of 10%. How do they do it? It seems that banks get around the RBI's base rate stipulation by using two methods: booking the loan at the base rate on their books and booking dealer payouts separately as promotional or brokerage cost.