How to Stay Financially Stable After Retirement

Few people are able to enjoy retirement when their finances are chaotic. Many people’s lives are controlled by the amount of money they spend and save. 

In most cases, if the finances are chaotic, then so is the rest of life. There are several effective ways to remain financially stable after you retire.

Choose and Follow Through with a Retirement Plan

It is not enough to plan a budget – you actually have to follow through with it. The planning part can be just as simple as the retiring if you do your research correctly.

There are different types of retirement plans available, so you cannot create any one you want. A business plan is not the same as an individual plan. A retirement plan usually comes with a bank account that restricts the ways you can withdraw and deposit funds.

As the retiree, you are allowed to customize a plan based on individual needs. Decide how often you want to make withdrawals and the average amounts. The better you plan, the more rewards you will receive after retirement. 

Invest in an Affordable Retirement Home

When some people retire, they think that they have all the money in the world. They spend too much of their money too quickly. They plan to buy clothes, cars and homes before the money appears in the account.

Before and during your retirement, you have to be diligent with your spending. Look for retirement homes available in the price ranges that you can afford and not in ranges that you want. 

It is better to invest in a home that is lower than your expectations than invest in one that you cannot handle later. However, there are so many benefits that come with spending your senior years in Antioch, or in any retirement home. If you find the right home staying somewhere like this can really help you save money. 

Create and Follow Through with a Budget

A budget plan is worthless if you never follow through with it. Only create a budget that is realistic and can be carried out effectively. Focus on the retirement plan only during the years when you are still working. Then follow through with a budget that goes into effect after you retire.

A budget is particularly important in the beginning years of retirement. During the first years, retirees tend to underestimate their benefits and spend too much in a short period of time.

Preparing for life after work is not optional. You must prepare for the positive benefits and difficult challenges that await you after retirement. Smart planning for retirement includes maintaining a budget and keeping your finances under control. With the right plan, anyone should prosper after his or her working days are over.

Increasing Your Brand's Visibility without Breaking the Bank

The competition in any line of business is fierce nowadays, no question about it. Every line of production and service seems fully covered and it is very hard to survive among so many others that are trying to do the same. 

One thing is for sure, it is being visible that separates one from the plentitude of similars. Everyone knows it and therefore it usually takes a lot of money to make it happen. Usually, but not always since there are ways to increase your brand’s visibility on the budget. Here is how.

Social networking

The number of social networks users in enormous and on the constant rise. Being present on at least the most prominent ones is something that had become obligatory for all brands that wish to increase their visibility. 

And, luckily, it still is practically free. However, it is not enough just to open your page and await success since it is not going to come that way. There are thousands of brands doing just that and more. In order to stand out, you need to be active, updated all the time and interact with your followers. 

Remember, time and effort are practically your only investments here so keep providing them.

Spread the right word

There are dozens of marketing methods available. Not all are universally applicable and different lines of business demand specific approaches for best marketing results. 

But, there is a method, the most trusted one since the dawn of time that is free but has to be earned. The power a word of mouth has is the best and the worst advertisement, depending on the effort and dedication you put in your work and customer relationship you build. 

With all this in mind, listen to what your customers are saying, address their needs and complains in a timely manner and they will promote you voluntarily and free of charge.

A toast to your success

Having a toast to success is customary in the business circles, just as it is in life in general. There are birthday toasts, anniversary toasts, business lunch toasts, you name it. 

People tend to feel more relaxed when they take a few sips, say at Cellarbrations, so a well-stocked bar at your business premises is always a good idea.

Talking about toasts, why not make them branded? Competing with renowned alcohol and beverage brands would be futile, but using fully personalized custom glasses or bottles will surely stand out and be noticed. 

Not only that, this is also a smart, wallet-friendly way to increase the scope of promotion since drinks are typical for social occasions, so a great many people will notice your brand. Cheers to that!

Partner

Cross promotion is another efficient way of both costs savings and reaching greater audience. There are dozens of positive examples where two companies who have a connecting topic or area of interest merged their promotional activities and presented themselves in a joint effort.

Find a partner that complements you and promote your activities together through various channels. You will double your audience with one move and establish new contacts at the same time.

Personalize your ads

People like to know who they are dealing with. Be personally present at you social media pages and website and participate directly. This way you will build the trust of your customers and let them know they are dealing with a dedicated person and someone who truly cares about both his or her work and the customers, as well. 

Your passion and dedication will not go unnoticed and very soon the brand itself will be mentioned in the same light.

The ‘time is money’ principle applies to marketing, but with from a different angle here. If you wish to have the best brand promotion without breaking a bank, your time will have to be the biggest investment. 

Being personally present in marketing campaigns and dedicated will make a difference and make your brand stand out, just what you aimed for in the first place.

The Top 6 Senior Scams and How to Avoid Them

The golden years are some of life’s best. With a lifetime of memories, unlimited free time during retirement, and a wiser outlook, senior citizens are living the good life. Unfortunately, there are people who prey on exactly those benefits to try to cheat senior citizens out of cash, property, or their identities.

Fear is a common emotion that scammers use to trick seniors and others into handing over their hard-earned cash. Even some of the savviest seniors have realized too late that they were swindled.

So how can seniors protect their assets and stay safe when it comes to fraudsters? Read up on some of the most common scams that target senior citizens, as well as how to avoid becoming a victim of those scams.

1. End-of-Life Expenses

Some scammers lead seniors to believe that their final expenses (i.e. funerals and burials) will be covered. Seniors with good intentions of not burdening their loved ones with these end-of-life costs may hand over thousands of dollars to individuals they believe to be legit.

When the time comes for those individuals to pay up, however, the family learns too late that the loved one got scammed. So what can seniors do to prevent this from happening to them?

- Senior Citizens Resources: Helping Protect Our Elderly With Resources On Money, Housing, Health, and More -

Before spending any money on final expenses, seniors should share their plans with other family members and even a trusted attorney.

Together, the senior and his or her loved ones should seek out a legitimate business that is a member of the Better Business Bureau and has a website and a presence on consumer review pages. All contracts should be carefully read before exchanging money.

2. Telemarketers

Most seniors are too smart to give important financial information to strangers asking for money – but what about a call from someone who appears to be the real deal? A good example is a telemarketer who calls (or emails) and asks to confirm the credit card, bank account info, or social security number of the senior on behalf of a utility company or other common bill.




These fraudsters may say all the right things to make their call sound completely believable but what they are essentially doing is setting up the senior for identity theft. In some cases, these callers or emailers may even ask for a payment for something that seems legitimate.

The best way to avoid getting fooled by these senior scams is to ask for a name badge or customer ID, phone number, and company name for the caller. Say that you will get the information gathered and call back. Any legitimate company will be completely fine with this request.

If the caller pressures the senior to hand over the info, this is a red flag. After hanging up, call the company the person claimed to be representing (using a number you find online), and ask for a customer service agent. Explain the call you just received and ask that agent to let you know if the request is a real one.

3. Mortgage Scams

Reverse mortgages are a smart way for seniors to tap one of their greatest assets: their home(s). The cash from a reverse mortgage can relieve some of the financial stress of the final years of life, but scammers have found ways to prey upon this option, too.

Usually, the senior scams include a letter that appears to be from an official assessor’s office or government agency that offers the homeowner cash or even a different house in exchange for the title to the home. The senior ends up on the losing end of the deal, of course, when they do not receive the right amount (or any amount) of cash for their nest egg.

Seniors who are interested in learning more about a reverse mortgage should contact a well-vetted company with a track record of standing up for seniors – not swindling them.

4. Bad Investments

Seniors spend a lifetime building up retirement funds so that their golden years can be comfortable ones. Scammers take advantage of this sitting cash and the fixed-income status of seniors to try to swindle them out of this money at every opportunity.

We’ve all heard of infamous Ponzi scams like the one that Bernie Madoff tried to pull off using millions of other people’s money, but these bad investments are not always so grand in scale.




Fraudsters could present seniors with fake real estate or business opportunities, and ask for a down payment to hold their spots. These con artists often present brochures and other materials that appear real, but once they have the money, they are long gone.

Seniors can avoid this scamming trap by vetting their investment opportunities with a licensed, trusted financial advisor first. That advisor can look into the legitimacy of the offerings and let the senior know if it seems like a smart move or not.

5. Fake Prescription Drugs

The combination of aging issues with rising medical costs can lead some seniors to look for ways to cut corners on their prescriptions, but this can have negative side effects both on the wallet and the body.

Since 2000, the Food and Drug Administration has investigated as many as 20 illegal internet prescription scams per year, and many of the people defrauded were senior citizens. Most drug companies have cost-reduction programs for people with low or fixed incomes.

Seniors should contact those drug providers before going online for any drugs prescribed by their physician.

6. Sweepstakes Fraud

The trick of this scam is to make seniors believe that they have truly won something, but then charge them processing or “winner’s” fee to claim the full amount. Often seniors will receive a check that appears real and will cash it.

Before the bank can reject the check (this usually takes a few days), the senior will send the requested winner’s fee to the scammers. By the time the senior is told that he or she is being scammed, the fraudsters are long gone with the money.

It’s important for seniors (and everyone for that matter) to approach any financial proposition with a cautious eye. You should never hand over personal or financial information on the phone or through email.

And discuss any large financial matters, like final expenses or a reverse mortgage for seniors, with a licensed professional who you can verify.

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 you Protect your Financial Assets During a Divorce

A divorce can be an emotionally draining time and often in more ways than just one. If you are not careful, it could be financially draining as well. It is easy to let your personal finances fall through the cracks during the events of your divorce as it is very emotionally distracting. 

There is also the possibility that you are having to split your assets to your ex-spouse or lose them altogether. 

However, there are steps that you can take to protect your assets from being taken or divided with your spouse as part of the divorce settlement. What can you do to protect yourself?

Establish Your Own Bank, Credit and Investment Accounts

If money from your own paycheck goes into your own bank account, it is easier to claim that it is a separate asset. Putting a credit card in your own name means that your spouse cannot use it to rack up debt that you may need to liquidate assets to repay. 

Having your own investment accounts enables you to claim that at least some of your portfolio is a separate asset that shouldn't be taken from you. 

Ask for a Prenuptial Agreement or Postnuptial Agreement

As long as it is done properly, a prenuptial agreement can state what happens to property before you even contemplate a divorce. 

If you own a business or have other valuables, you know ahead of time how they will be handled in the event of a divorce. A postnuptial agreement is much like a prenuptial agreement, but it is put into place after the marriage is official.

Learn the Art of Negotiation

Depending on where you live, marital property may be divided in an equitable fashion or divided 50/50. If it is divided in an equitable fashion, you may be able to get your former spouse to agree to forego a claim to a license or patent in exchange for a lump sum payment today. 

Your spouse may also agree to give up a claim in exchange for also being held harmless if you lose a judgment in the future related to misuse of that license or patent.

There is also a lot more when it comes to negotiating the aspects of your divorce that can impact your personal finances and assets. For example, are you a parent? Were you the money maker in your marriage. 

These aspects of your divorce will affect your financial situation. If children come into play, there is a possibility you may have to pay for child support. There is also the possibility that you may have to split money with your ex-spouse in order to help your child go through school or other activities they may be involved in. 

There is also a possibility that you may have to pay alimony to your ex-spouse. This can cost you a lot of money over time and it many cases it usually lasts until they re-marry. 

Therefore you want to be careful in how you negotiate these terms in order to protect your assets. This is where your lawyer will come in handy.

Hire an Attorney

Hiring someone such as Thomas A Corletta may increase your odds of protecting your assets. 

Legal counsel may be able to use state law to your advantage when it comes to dividing property in a divorce. If informal negotiations don't work, a formal trial may enable you to keep what is yours.

After a divorce, you will need your money more than ever to pay rent, pay off past debt or to provide for your child. 

Therefore, make sure that you take every step possible to protect your assets before, during and after a divorce. 

Hints on Improving Asset Management for Your Rental

A rental property is by all means an asset, no doubt about it. And, just like it is the case with the majority of different assets, its value can be increased with the help of a couple of right actions. 

In case of rentals, the more valuable an asset is the better management it requires in order to increase its overall value and the income it brings. Having this in mind, it needs continual attention and dedication. These hints will help you nurture your property and improve its management, increasing your profit along the way.

A change in mindset

The first requirement that needs to be fulfilled is the mindset change. You need to think about your rental and approach it as an asset, not a property. Rental property is basically a static thing, and its management is too, with a fixed rate that rarely changes, routine maintenance and constant value which changes beyond our influence. 

On the other hand, asset management is all about ensuring that the value of the rental becomes more valuable with time, instead of leaving it to statistics and chance.

Be on top of things

In order to properly manage an asset, you need to know everything about it at any time of day and night. Every property is unique in a way and will require personal attendance to a certain extent and that will be time consuming. 

On the other hand, data such as location, rental rates, maintenance schedule and investment plans, to name a few, can be dealt with more easily using suitable software, Combining these methods will help you save time and stay on top of things continually and efficiently.

Multiple asset management

As you are probably well aware, managing multiple assets is an activity that demands even more attention and time. What makes it such is the fact mentioned above, that is, every asset is unique in a way and the individual tenants’ expectations are always at least somewhat different. 

If you feel you are losing control over both individual expectations and general management details, it is high time you turned to an asset advisory service. The increased income will surely justify the investment.

Availability, prompt reactions and rent raise

Individual contact with your tenants and prompt addressing of their needs is the key to establishing an atmosphere where your work is highly appreciated. In return, exceptional customer service will separate you from the competition and provide a foundation for raising a rent and the overall asset value. 

Making regular visits is expected, but the best way to make this happen is to set up an online platform where the tenants can interact with you when needed. Be available, react promptly and everyone will profit.

Intensify and improve maintenance schedule

It is important to understand that the shape your property is in has a strong impact on its overall value. A well organized, scheduled and regularly performed maintenance is essential in keeping things under control and of great importance in keeping both your tenants and yourself pleased. 

Living in a perfectly functional home is what every tenant expects and it is the owner’s responsibility to provide it. Also, keep in mind that regular maintenance prevents small problems from escalating into large issues.

Managing a rental is managing an asset. If you are ever in doubt about that, just think of how many people in this world dream of owning a real estate, let alone rent one. Having this in mind at all times, give your best in making the most of what you have, any effort invested will be

Six Items That Hold Their Value Well, And When You Should Consider Selling Them

The stock market isn't the only place you can invest your money. With the volatile nature of the global economy, more people than ever are on the search for non-traditional investments that will allow them to continue building wealth. Read ahead for a look at six unique items that tend to hold their value in practically any economic climate.

Domain Names

Over the years, entrepreneurs and investors have made an incredible amount of money buying up generic domain names and then reselling them down the road. Also known as domain flipping and cybersquatting, this practice is incredibly lucrative for those who can find domain names with popular keywords and phrases.

Wine

Anyone who is interested in this type of investment should keep in mind that certain wines will hit a maximum value after just a few years. Investors must take some time to research the market and get an idea about which wines are profitable and how long they can be stored.

Rare Coins

Rare coins have been a popular investment option and hobby for many years. Unlike bullion coins which hold their value due to the metal they are made of, rare coins have a higher value because of their scarcity. Just as with wine, it is important to research the market and gain a better understanding of coins before making any purchases. Consider Rocky Mountain Coin Inc if you want to buy or sell rare coins.

Classic Cars

The vast majority of cars will lose their value over the years, but classic cars are an exception to that rule. A classic car can be any vehicle that is old enough to hold historical interest and continue increasing in value as long as it is maintained. In some cases, a single classic car restoration can result in a five-figure return on investment.

Sports Memorabilia

We have all heard stories of signed shoes and old baseball cards being sold for millions of dollars. While most sports memorabilia will never reach those prices, they can still hold their value almost indefinitely. With most memorabilia, the key to a good investment is verifying that it is an authentic item. 

Old Toys

The difference between investing in old toys and collecting old toys is the emotional attachment you have to the items. Those who have a strong connection to a certain brand or style will either need to detach themselves emotionally when it comes time to sell or consider another item to invest in.

Hopefully, these six ideas will give you a fresh take on some ways you can invest without dumping more money into the stock market.