Re-designing your Home on a Budget

For many individuals, the years of retirement are a welcome time to begin exploring hobbies and accomplishing goals that have long been put-off. It is also a time of great change in life and habits, often manifested in the desire to re-design all or part of a home’s interior. However, a retiree’s available budget may present difficulties.

Many older people believe they must be limited to fresh paint or new furniture pieces or window treatments, rather than the larger-scale decorating they would like to do. 

By following a few tips, keeping an eye open for deals and discounts, and embracing budget-friendly design styles; a home can be attractively and practically re-designed with minimal expenditure.

Money-saving re-design tips

One of the best money-saving tips for any home re-design is to plan carefully the changes that will be made. Start with an ideas board; professional designers always have a book that they present to prospective clients featuring ideas and designs for a variety of rooms. 

Search out images in magazines, online and through image pinning sites, pulling designs suitable for the room or rooms being refurbished.

When it comes to renovating the basics of a room, namely the floors and walls, the cost of carpeting and paint can be substantial. Carpet remnants are a good way to go, particularly if more than one room needs to be carpeted. 



Many carpet remnants are quite large and the purchase will not break the bank. As for paint, one of the best ways to keep costs low is to take advantage of mixing errors at local paint stores. 

Mis-tints, as they are known, are slight variations from a standard mixed color. Purchasing mis-tints in similar colors to those desired and blending them to create a unique paint color can cut the cost of painting multiple rooms by as much as 80 percent.

When it comes to purchasing other types of flooring, such as tiles, parquet or wood planking, taking advantage of clearances and purchasing in volume are the way to go. 

Clearance items may be limited but they will definitely be cheap, and a little flexibility in design may make it easy to blend several different woods or tiles together seamlessly. 

Many flooring stores and discount outlets will offer deals to anyone purchasing flooring by volume, so keep that in mind as well when selecting flooring.

Energy-efficient updates

Saving money on a redesign is not just about the look of a room, although that is certainly the biggest part of it. Redesign should also be about improving a room or rooms overall, and that means making them more energy-efficient. 

This may be obvious in kitchens or bathrooms, where energy-efficient appliances and water-saving units take center-stage. However, windows are a major location where energy-efficiency is decreased, usually due to poor insulation. 

Any draft gaps should be sealed and consideration should be given to fitting some form of double-glazing. Updating window treatments can take many forms, including new draperies or curtains, but a money-saving update growing in popularity is the addition of interior or exterior shutters.

Stylish shutters are available for both the exterior and interior of the home in a variety of styles. Exterior shutters offer the greatest amount of insulating protection, keeping the weather away from windows when closed and preventing thermal shock. They also add an additional level of security.

Solid shutters offer the best protection from heat loss in the winter and heat gain in the summer, but they do not allow for ventilation the way that louvered shutters do. 

However, if the shutters are combined with other insulating window treatments such as draperies, than louvered shutters are an attractive and flexible way to go. They can either cover the entire window area or only the lower half, as does the café-style shutter.

How to be Ready for the Unexpected When it Comes to Saving Money?

When it comes to saving money, most of us have some sort of budget that we will use in order to guide our spending and help ensure we put away as much as we need on a regular basis to fund our future plans. Often these budgets will consist of complex and in-depth spread sheets with detailed break-downs of precisely what we're going to spend money on and exactly how much we're going to save over a set period of time.

The problem though is that budgets are consistent and inflexible and they don't tend to have much room for error. When unexpected expenses crop up then that you didn't anticipate – and they will – your saving can end up going on hold and you can end up running out of cash.

Sometimes it will be because the boiler broke, sometimes it will be because your energy bill is obscenely high for unknown reasons, sometimes it will be because you get invited on some amazing night out/trip abroad that you just can't say no to. Whatever the reason though, you will find that budgeting and saving rarely goes unhindered and that there's almost always something that will surprisingly cost you money.

If you have the right attitude however, these costs can be managed and dealt with. Read on and we'll take a look at some of the best ways you can prepare for those unexpected expenses.

Save When Times Are Good – Don't Rely on the Future

You know when you buy yourself an extravagant gift one month because your finances are going strong and because you promise yourself that you're going to pay it back later? Well unfortunately that just doesn't work. You promise yourself to save more money next month, but then something unexpected comes up and you end up losing more cash – thus the panic starts. You can justify things all you like, but ultimately buying on a whim will always be a mistake as far as your savings are concerned. Don't rely on having more money later – save now. 

Of course you should be able to treat yourself to things from time to time, but when you do this it should be as a reward for having already saved a certain amount. Set yourself targets and buy yourself rewards when you reach them – that's a much healthier and safer way to occasionally get what you want.

Expect the Worst

It goes hand in hand with the above point, but more generally you should just make sure that you plan for the unexpected. Not specifically, but overall – by putting aside a little extra in savings so that you can dip into those when you need to, by making conservative estimates of how much you can save. It's better to expect the worst and be pleasantly surprised with extra cash than it is to hope for the best then be shocked because you have much less.

Have Contingency Plans

But it's not enough to just acknowledge that you'll sometimes be spending extra money – you also need to plan for that eventuality and know what you're going to do about it. That means having a contingency plan for those emergencies – perhaps that involves dipping into a savings fund, maybe it means asking your parents for a loan, or maybe it means doing a little extra work on the side to get by. Whatever you do though, make sure that you don't end up getting desperate and taking out expensive pay day loans.

What's also useful is to take out insurance which can help to prevent some of those dire situations. Insurance won't protect you against every outcome, but it can help to prevent situations where you're working out for a new phone or paying for new furnishings in your home and lots of repair work.

Live Cheaply

Life will generally be easier financially if you find ways to live within your means. Don't spend as much as you can while still saving – rather find ways to make do with less and treat yourself occasionally when you can. By requiring less money day-to-day you'll be less caught out by those one off expenses and better able to save under any conditions.

Author Bio:

Miley Brooke, the author of this post, works for Donnelly's, providers of life insurance in Australia. She likes to write and is keen to learn new languages. You can connect to her team on Google+ and have a look at their profile on LinkedIn.

How To Make A Smooth Transition From Working To Retirement

retirement (Photo credit: 401(K) 2013)

The climb towards the top of the corporate ladder was long and winding. You have spent many years of your life working and gaining the respect of the people you work with. You have enjoyed the challenges and the rigors of your work and you have come to define your life in terms of the work that you do. Before you know it, time has flown too quickly and you are now on the cusp of starting your retirement years.

While there are many who welcome and embrace a more relaxed way of living, there are some who might feel apprehensive about starting retirement. If you are one of those who are anxious about leaving their finance jobs and other careers behind to begin another chapter in your life, there are several ways in which you can make a smooth transition from being a busy workhorse to a becoming a relaxed yet productive retired person.

Why do you need to make a smooth transition?

The question that many men and women have in their heads when they begin retirement is "Who am I now?" For the past years they have built their lives around their work, they have done the same routine, and they have built their sense of accomplishment around the feats that they have achieved in their jobs. Men and women who enter the stage of retirement should be careful about the possibility of going into depression.

Retired persons who suddenly find themselves with so much free time in their hands sometimes begin to question their purpose in life. While there are those who strive in a slower, more relaxed pace of living, you may find it quite challenging to deal with this change. You may find that you and your wife or your husband now have too much time together and you begin to irritate each other. You may begin to feel empty and powerless because of your new situation.

How do you deal with the negative aspects of entering retirement?

Slowing down from work does not mean that you have to become idle. The key is to keep on moving and to keep yourself busy with new hobbies. Have you always enjoyed cooking and baking but you never had the time to do it before because of your job? Now is the time to pick up that spatula and start whipping out a delicious dessert for the family. Have you always wanted to get into sports like running or cycling? It is never too late to pick up a new hobby or sport. There are many adult men and women out there who start living a healthier lifestyle when they reached retirement and it has done wonders for their health.

You may now realize that you have way too much time in your hands. You are not used to living without a certain structure and the change can be quite overwhelming. Now is the time for you to reach out to old friends and colleagues who you have probably ignored for the past few years because of your busy work schedule. Plan a trip with your old high school buddies. It could be a weekend of fishing down in the lake or it could be a cross-country adventure. Reconnecting with old friends is a great way for you to feel rejuvenated and to give you a renewed zest for life.

You may also want to start volunteering and becoming more active in your church or local communities. Many people who enter retirement start to have that urge to want to give something back. The best way for you to find a new sense of purpose in your life is to engage in community building activities. This is a great way for you to feel productive again, to meet new people and to be in the company of the young ones.

Yes, it is true that retiring from work can come with a lot of challenges. Embrace the journey and revel in everything positive that this new chapter in your life brings you.

Author Bio
Joshua Turner is a writer who creates informative articles in relation to business. In this article, he describes the transition from employment to retirement and aims to encourage further study with a business administration bachelor degree.

Investment Opportunities In Civil Engineering

Abu Dhabi by SPOT Satellite (Photo credit: Wikipedia)

The world of finance takes investors to some intriguing areas of opportunity. Some of the most exciting opportunities for investing come in the form of civil engineering projects. The need to upgrade infrastructure or initiate new projects is ongoing in society, creating favorable circumstances for investments in those efforts. Five areas in particular currently present interesting ventures to finance. 

High Speed Rail 

Interest is growing in private investments in high speed rail. Routes that are expected to handle a lot of traffic will be lucrative, drawing the interesting of investors. New York and California, for instance, both offer potential investment opportunities. California in particular has a clear vision for private investment opportunities in high speed rail. The U.S. has fallen behind other countries in private investment in high speed rail, but recent successes and growing plans could change that. A planned rail between Dallas and Houston combines with the success of a new route between Boston and Washington to create a positive outlook. 

Alternative Energy 

Offshore wind offers an intriguing opportunity for investing. The U.S. Department of Energy and Department of Interior believe there is enough wind potential in close range of shore to equal the amount of energy in the country's electrical system as it is now. There are high initial costs to finance offshore wind, but the potential to harness even more energy from further offshore could mean significant returns on investments. Timing and a keen eye on prices can help an investor to make a choice at the opportune moment. 

Solar Energy 

Investments in solar power continue to represent a great deal of potential. These solar projects culminate in physical products as well as energy production, which make them an investment that finance professionals can envision bringing in high returns. Solar energy also offers any number of models for investment, creating versatility and choices in surveying opportunities. 

Solar projects are expected to continue growth, larger projects in particular presenting the best chances for returns, as they tend to be more viable economically. Additionally, municipalities, state and federal projects offer some incentives for investment in solar projects. The increasing diversity of choices and the growing interest in clean energy make solar energy attractive to investors. 

Inland Waterways 

Underinvestment from public funds has created opportunities for private investment in inland waterways. Global investments present a variety of options for those ready to finance a project that promises returns. Projects planned in India, for instance, are open to private investment. Projects in the U.S. also offer promise, given the successes seen in public-private joint funding. Partnerships between public interests and private investments are likely to be explored in the U.S. in the wake of public budget obstacles and a complicated political atmosphere. 

UAE Investing 

The United Arab Emirates is experiencing continued growth and urban development, Dubai in particular attracting a great deal of interest. Dubai tops many lists of the best places in which to invest, and the large number of opportunities give investors a number of options. Likewise, Abu Dhabi represents opportunities for investors to explore. The leadership in alternative energy in the region provides additional investment options to consider and makes the area even more enticing when contemplating choices. 

Choosing a project to finance as an investment can be a difficult undertaking. There are no certainties in the world of investing, and many factors must be weighed. The first thing to do is study the investment products under consideration. It is also crucial to understand the risks of options being considered. A careful review of the various options from which to choose can also help investors decide what suits them best. Only the investor planning to finance a project can determine what to do once all of the information is analyzed. 

Author Bio 

William Stevens is a writer who creates informative articles in relation to technology. In this article, he describes investment opportunities in civil engineering and aims to encourage further study with an online masters degree in civil engineering.

Is It Time To Go Back To School?

Harkness Tower, situated in the Memorial Quadrangle at Yale (Photo credit: Wikipedia)

There is a Chinese proverb that says, "The best time to plant a tree was 20 years ago; the second best time is now." This applies to most other endeavors that have been postponed for one reason or another as we made our way through life. Many of us wish that we could have finished that masters degree, completed that doctorate, or maybe even taken a different course altogether. Being 50 years old and above doesn't mean that these dreams are now out of reach. In fact, it may be the perfect time to go back to school and learn new things in preparation for retirement. 

The Rise of Online Courses 

A lot of older people would love to return to their university but several things get in the way. Their work schedules may not permit them to attend regular sessions unless night or weekend classes are available. Even then the load may prove too much for their health and well-being. Some may be fit enough to work and study at the same time but are not that comfortable with the thought of being the oldest person in class. It's a good thing that technology has evolved to the extent that courses may be offered online and taken at the student's leisure. 

Take a Dip in MOOCs 

Those who crave for knowledge but are not ready to commit to full degree can ease into it via Massive Open Online Courses or MOOCs. These have only been in existence for a few short years but they have already attracted millions of students across the globe. They are typically short courses that last from 4 to 12 weeks dealing with various subjects ranging from arts to engineering. The professors are some of the most brilliant minds at well-known institutions such as Stanford, Yale, Duke and Harvard. Hundreds are available to the public for free. 

Taking these subjects will not result in a formal degree though a few may be accepted for credits at select universities. A lot of them offer certificates of completion as an acknowledgement of the student's efforts. There are several sites to choose from and each has its own methods. Usually, short video lectures are uploaded on a weekly basis and people view or download them from the site. There may be weekly quizzes and assignments. A few only have a final exam at the end of the course. Professors set the weight of each requirement as well as standard for passing the course. Students can interactive on the class forum or on social media. 

Plunge Head On with Online Degrees 

Should the MOOC experience prove successful and the student feels ready to take on a greater challenge, a variety of online degrees can be acquired through universities that have embraced this mode of instruction. The subjects are generally harder and more comprehensive than those found in MOOCs. There is a higher level of expectations when it comes to involvement in discussions and the quality of the academic work. After all, these lead to the conferment of a proper bachelors or masters degree. The time commitment is also more intense but still flexible. Some may be conducted entirely online while others require face time with the professor every now and then. 

In many ways, the age of 50 is the perfect time to return to school. The career is already stable, the finance is in order, and the children are old enough to take care of themselves. Celebrate this milestone by embarking on an endeavor that could lead to fantastic opportunities down the road. It could be the start of an exciting new life. 

Author Bio 

Ryan Ayers is a writer who creates informative articles in relation to education. In this article, he explains a few benefits of online degrees and aims to encourage further study with an online master of education degree.

Playing Catch-Up on a Retirement Plan Over 50

retirement (Photo credit: 401(K) 2013)

People ask me all the time what is the best way to catch up on a retirement fund after a couple of decades of procrastination. Should start by paying off all debt, start putting all you can muster into a 401k, start heavily playing the lottery with crossed fingers? The answer is a combination of paying off debt and investing in low cost bond funds.

Paying off debt can be better than saving money.

Well, it can actually save you more money because of the obvious interest charges you are paying. You need at least 10 percent of your gross income saved, and a good way to do that is to pay down any debt with a high interest rate (that isn’t tax deductible). Paying off credit cards or car loans with annual percentage rate of 15 percent will give you a 15 percent return on every dollar you pay off. This is definitely the first thing you need to do when playing catch up.

It’s important to note that you MUST make it a point to live within your means, and perhaps a bit below them if you want to really save for the future. This calculator from NewRetirement is a good starting point that brings the future into the harsh light of day. It might be a good idea to downsize your living space; get a smaller house or a car that doesn’t require a monthly payment. Ask yourself if you really are okay with running out of money before you reach 75? 

Low cost bond funds

Once you have settled any high-interest, non-tax deductible debt (or if you miraculously didn’t have any) you need to catch up with a 401(k) plan. It would be ideal if your employer match at least some of your contributions, but even if they don’t this is a great way to save because of the tax-free savings aspect of the retirement fund.

Take a day or two out of your schedule and figure out which fund options your employer offers, and which are best for you to invest in. It’s best to choose the lowest cost bond funds and you can do so by comparing fund expense ratios, and choosing those with a ratio less than one percent. These investment firms will pass on the most return to investors by keeping costs down, and will make a difference in twenty years by the time you retire.

You may have lost sweet time for investments to compound and grow to their fullest potential in your procrastination, but that doesn’t mean it’s too late. An investment will take 15 years to double at a five percent rate, and 18 years at a four percent rate. If you get going now, with the goal of contributing to the 401(k) the maximum amount you are allowed to add, you can have a nice chunk of money waiting for you when you retire.

Figure out your social security plan.

Full retirement age for those born between 1943 and 1954 is considered 66, and will replace some of your salary, but you will most likely need more income. The rate for the average wage earner is 42 percent, but it adjusts based on your specific income and whether your spouse should be expected to contribute as well (estimate your social security benefits here). You can maximize your monthly benefit by waiting to retire until you reach 70, which gives you a 32 percent higher benefit than “normal”.

You might be over 50, and you might be behind on your retirement plan for whatever reason. Hey, it’s going to be okay - life happens. You can start now and really improve your position in the next 15 to 20 years. Retire the way you want to, not the way you have to.

Louis Mack is a seasoned financial planner in San Francisco who specializes in retirement planning. He is a writer for NewRetirement.com and lover of the great outdoors.