How Can Retirees Manage Their Finances and Prep for the Future?

Living a comfortable retirement means something different to every person. Regardless of your chosen lifestyle, any retirement requires financial management both before and during your golden years. It's time to take a hard look at your finances so that you can manage and prepare for the retirement road ahead.

Pay Off as Many Debts as Possible

During retirement, you only want to pay for the bare essentials. Carrying a lot of debt will only force you to pull more out from your retirement accounts. 

Prepare for the future by trying to pay off most of your debts, such as the mortgage, student loans and other liabilities. It may take some careful planning, but maintaining a small budget in retirement leaves room for more vacations and fun-spending habits.

Take Advantage of 401(k) Matching

Managing your finances can be incredibly simple when you know if an employer matches the funds added to your 401(k) account. 

Before retirement, add as much money to the 401(k) that can be matched. This perk is often a benefit of a long-term employment situation. Don't take out any funds until your official retirement age. You don't want to pay exorbitant taxes on money that you worked so hard to earn.

Manage Cash Advances with Professional Ease

It's understandable that funds might reach a low point during a life emergency. Consider a cash advance, like those available from American Cash Advance and Title Loan, until your check or direct deposit comes in. 

Use that money to keep up with another commitment while you pay it off in record time. When you pay back the advance, very little interest may be charged to your account. Don't put off any paybacks because the interest will accrue, and it must be paid along with the balance.

Look Out for Scams

Retirees are often the targets of scams because they have their life savings within reach. If you see or hear about any financial opportunities, thoroughly research them before moving forward. 

Scams can look incredibly real, such as offers from banks and official entities. Be proactive about visiting the business's office or calling the facility. Scams can be pinpointed when the perpetrator is only available as they call you and not when you call them.

Create a budget and stick to it. This simple strategy is how you can stay on track with your finances. 

Outlandish spending sprees and other wasteful activities will only drain your accounts when you need them the most. Be responsible with the funds so that you can enjoy life without financial stress.

A Secure Investment: 4 Ways you should be Protecting Your Home

Your home is likely your biggest investment. That is why you should do everything that you can to protect it. There are several ways that you can keep your home secure.

Get a Security System

You will not only be protecting your home by installing a security system, but you will also feel safer when you are at home. 

Studies have shown that homes without security systems are 300 percent more likely to be broken into. If a break-in occurs, then the police will immediately be notified. 

A security system not only protects your home from break-ins, but you can also get one with fire monitoring.

Eliminate Hiding Spots

If you have bushes and shrubbery around your home, then these areas can easily be a hiding spot for burglars. That is why you will need to trim bushes and shrubbery. 

You will also need to need to put lights around your home. Even though most break-ins occur during the day when people are at work, you will still need to secure your house at night.

Secure the Front Door

The front door is the main entry point that burglars use to get into your home. In fact, it is estimated that 33 percent of burglars break in through the front door. 

That is why you will need to secure your front door. If your door does not have a deadbolt or peephole, then you will need to install them. 

Additionally, if your door has a mail slot, then you will need to make sure that no one can reach through it and unlock the door.

Get Homeowners Insurance

Many mortgage companies require that people get homeowners insurance through a business like Northeast Insurance Agency or a similar agency. 

However, even if homeowners insurance is not required by your lender, you will definitely need to consider getting it. Homeowners insurance will cover your home if it is damaged by a storm or fire. 

It can also cover your home if someone breaks into it. Additionally, homeowners insurance includes liability coverage. If someone is hurt at your home, then they can sue you. However, you can be protected from a lawsuit if you have homeowners insurance.

Being a homeowner comes with a lot of responsibility. Protecting it is one of the biggest responsibilities that you have. Y

ou can protect it by installing a security system, eliminating hiding spots in your yard and securing the front door. Furthermore, it is important to get homeowners insurance.

How to Invent a Product in Your 50’s

There are certain stages of life that lend themselves to certain behaviors and trends. For example, most people aren’t thinking about creating an invention or product in their 50’s. 

It does happen occasionally, like in the case of the toothbrush, which was created by a man nearly 50 years old. In most cases though, it is something done in your 20’s or 30’s. 

This article is to let you know that it’s not weird, you can do it, and the only thing holding you back is you. The fact that you have extensive life experience can help you identify certain opportunities that a younger person might overlook. 

Invent a Product

The easiest way to come up with a product idea is to solve a problem that you currently have or one that you see is common in the world. 

I’m not talking about solving world peace here, but if you take note of daily struggles that you face, you’re already halfway to the prize. When you have a frustration with a product that you use all the time, think about if there might be a better way to do that thing.

Once you have a product idea, or an improvement to an existing product, it’s time to test the market. The best way to do this is by either setting up a focus group with strangers or just doing it virtually through crowdfunding sites like Indiegogo or Kickstarter. 

These mammoth opportunities raised more than a billion dollars last year alone. This illustrates the power that can be potentially harnessed with these sites. If you go down this road, don’t skimp. 

Promote the Invention

Produce the highest quality description and videos that you possibly can. Create a quality, but simple presentation about how your product works and how it will solve the problem you once had. Not only will this force you to think critically about your product, but it will tell you in no uncertain terms whether or not people will buy it. 

Salesmanship is a must, especially with the competition for eyeballs on these types of platforms. Fill out your profile completely, and create buzz about your invention, even if it’s not the newest tech gadget. People want practical as well, not just exciting and colorful.

Build a Prototype

If your product is validated, it’s time for a working prototype. Remember: a prototype doesn’t have to be the final work of art that you’re planning; it simply needs to showcase the appearance and in some cases, functionality of said product. 

You can create this yourself with existing materials or hire an outside consulting company to take care of this for you. If you have the capital on hand, this may be the way to go. 

You’ll get professional critiques and a functioning product that is ready for market. As you are going through this process, keep in mind that the relationships you build right now could be fostered and used for future projects as well.

If you follow these suggestions, you’ll be able to come up with a great idea, solve a problem, validate your idea, and make people’s lives easier, all while making money from it.

5 Outdoor Improvements To Increase Your Property Value

If you’ve considered selling your property in the future, now is the time to invest in your home to capitalize on its value. Homeowners from all around are investing in the back of their properties highly motivated by the home-improvement boom that started just this decade. 

Many studies confirmed that consumers value a landscaped patio 11.3 percent higher than the one without good landscaping. Along with that, it will increase your house’s value by a staggering 12.4 percent. This might be the right time to consider improving your outdoor living area because it offers an excellent return of investments. 

More trees and backyard sanctuaries are important aspects to adding value to your current real-estate. But how to decide what is the most efficient and economic way to add value to your own backyard? Here are some of our examples:

Gardening and landscaping

If you’re not sure where to start, gardening and landscaping is the way to go. These kind of spaces are very popular, though they can be high-maintenance. 

To avoid that happening, you can do a little research on native plants or drought-tolerant plants that thrive in your area, which are all less expensive and not too complicated to care of. 

If you, however decide for something more demanding, you might need to get some help in the form of an irrigation system. Keeping your backyard clean and well hydrated is very important, so make sure to update your sprinklers, and replace hose connectors and fittings. 

Besides plants, shade trees or tall shrubs are the best solution to lowering your energy bills over the summer, as they can provide shade and block the sun's rays from overheating your home.

Boost curb appeal

First impression is the most important when it comes to making or breaking a deal. Don’t put off caring about your curb appeal until it’s time to sell your home. 

These kind of improvements are cheap, simple and long-lasting. You can do things such as repaint your home, fence, front and garage door, update your door knobs, patch or repave your driveway or simply clean up the grass. 

Installing a new steel door can increase both security and energy-efficiency. A clean, uncluttered front yard can instantly alter someone's perception for the better.

Add a pergola

If you have a pool, a pergola can easily accentuate the pool area and increase your outdoor living space as well. 

It creates more shade and opportunities for more greenery and lighting, and if you choose breezy curtains, even a shelter from bugs. Installment costs between 1000-3000$, depending on the size, but luckily, the additions such as vines, flowers, strings of light and other are fairly inexpensive. 

Most importantly, a pergola will increase the value of your home more than the actual cost of building it.

Build a deck/patio

Decks provide a very high return of investment, but they can be a bit pricey. You can save a lot of money if you decide to build it by yourself, however, the cost of someone else doing it comes to about 3500$. 

Patios, terraces and decks are generally high on the wish list for buyers, so carefully calculate if you’re ready for this kind of investment. All aside, a patio makes for an amazing outdoor area where you can make further improvements in the future.

Outdoor kitchen

If you’re not limited by your budget, you can add a fabulous outdoor kitchen that can provide you with both practicality and fun outdoors. 

It can be installed with hot and cold running water, grill, and even a refrigerator. Every buyer is looking to use their backyard as an extension of their house, so they can cook and dine there, or even watch TV.

Final thoughts

Many homeowners can enlist the help of a trusted real estate professional to consult on what changes to make. 

You can use that to your advantage, and stay informed on the changes in the marketplace. The most important thing when it comes to improving your backyard is to not go overboard. 

Create a detailed plan and according to your financial capabilities, adjust your plans so that you can finish what you’ve started. The key here is patience, and a little effort to making your living space more comfortable and enjoyable.

Consolidation Is A Great Solution For Many Too Loans

There are many uninformed expenses like roof leakage and medical bills which disturbs a person’s so called budget. In emergency cases the high interest loans are easily available. People finds you deadly in the need of money and thus you have no choice but to agree to take such loans. 

If you are unable to pay that loan installment on time, interest rate carries you so far away that the situation becomes out of your control. Such pay day loans are vicious easy to obtain but impossible to overcome.

Loan consolidation

There is a process called loan consolidation which all debts into one and now you owe only one debtor. Consolidation counsellors minimize your rate of interest and free you from additional charges. 

It allows you to pay your debts at a lower monthly amount for a certain span of time. You can get a secured loan at low interest rates or an unsecured loan at a higher interest rate. Choices and options varies according to the circumstances of the indebted. 

You can handle your loans by yourself but if finances becomes out of control, consolidation is the only option. Consolidation experts take the responsibility to communicate with your debtors so that you can live start to live life stress free.

A Path to a Debt Free Life

Consolidation does not mean you are debt free, it just means that you have an affordable process to pay your debts. Consolidation does not work by itself, it works with your sacrifices and determination to pay off your debt. 

Before hiring any such agency you must check their record on the website of the BBB. You are not going to purchase anything from the consolidation firm, they are just offering you services with a minimal charge. 

These finance counsellors advise you how working to pay off debt is better than bankruptcy. They settle your doubts and help you get on with life.

Find a Good Consolidation Loan Company

Before getting into any agreement consider all other possibilities. Mostly all consolidation agencies offer you the same interest rate, whether it’s a personal loan or student loan. 

A kind of consolidation loans can offer you cash back if you complete your agreement within the grace period. Always read the small print carefully before signing any agreement. 

They can offer you additional discounts in the first few months as an incentive to sign you up. Read all documentation carefully in order to avoid any fraudulent act. Always check whether the company is truthful and get everything in writing. 

It's good to check out the experiences others are having with the service. You can read reviews online .

Pay Off Your Consolidation Loan and Budget Your Money

Now that you are set up with a consolidation loan be sure to pay it off with all haste. Focus on it to pay it off early. 

After getting your agreement with the consolidation agency for consolidation loans, you have to manage your monthly bills and loan installment together. From now on you cannot avoid organizing your monthly expenses nor can you skip your monthly payment. 

So after acquiring consolidation help try to earn more money and spend less. The consolidation counsellor helps you get back on your feet but obviously you must spend smartly.

Money and Property after a Divorce: What Happens

Dividing the property of the family during the divorce is an incredibly difficult task. There are always certain aspects and assets like houses, retirement and pension plans, stock options, accounts and much more. 

Even in the friendliest of situations, deciding who gets what can be quite a challenge.

There are different types of property, as viewed by the law, and although various countries, states, and even regions differ in different legal aspects and legal details, there are some general guidelines to follow when it comes to such a hard issue.

Valuing the property

The first step in this unpleasant process is deciding on the property value for the settlement. If a couple in question can’t agree upon the value, the court calls for a joint report from various experts and estate surveyors in order to get the accurate assessment. 

The value of the property may be updated if the sudden rise or fall in the market occurs, but usually, such events are planned ahead in the original report. Setting a definite value on the property is necessary for the finalization of the legal process.

Getting a financial agreement

In the case where the couple manages to work out money and property issues, the entire process can avoid court hearings. There are lots of experts that can help with this issue like East Coast Family Lawyers that can provide legal services to the couple, making legally binding financial agreements and speeding up the entire process. 

This differs from one legal system to another, but usually, if ex-partners agree in front of a solicitor to split all the belongings 50-50, and reach a financial agreement – this can help get on their feet during the divorce as soon as possible and also avoid a lot of unpleasant court time.

What property gets divided

Basically, there are two types of property: marital property and separate property. The marital property includes all the property either spouse bought during the marriage, and the property both partners bought in this time period. 

Separate property is the property that one of the spouses owned before the marriage and it can’t be divided.

Marital property gets divided regardless of whose name it’s entitled to, and even things like personal gifts from one spouse to another represent marital property that will be divided in the process of divorce. 

Pension and retirement plans, tax and debts and basically anything made during the marriage goes under the marital property, so these factors may be divided amongst spouses.

Separate property includes any property that was owned by any of the spouses prior to the marriage, an inheritance received before or after the marriage, gifts received from third parties and payments received for pain and suffering. 

However, if you choose to mix the properties, for example, add your partner’s name as a co-owner of a property you owned before the marriage, it will most likely be observed as a marital property during the divorce.

What if agreement can’t be reached

The biggest nightmare for most of the people going through this difficult process is – what if the agreement can’t be reached? 

Again, depending on the legal system of the country, state or region you’re at, laws differ significantly, but generally, courts have the power to provide all the necessary help and mediation between the spouses.

In certain cases, when there was proof of domestic violence or if there was an involvement of social services the mediation won’t be needed as the courts usually help the victim. 

Certain cases like deciding on the custody of the children, however, will call for detailed hearings and multiple social services meetings.

Moving on

Usually, most of the parties involved in divorce just want to sell the property and simply move on, but in today’s market, this may prove to be quite a challenging task. 

Even with the divorce fully finalized, there are real estate agencies that need both of the owners, or their legal representatives, to be present at the same time. 

The value you get for the property also drops, so probably the best advice for recently divorced people is – don’t have very high expectations, and consider renting for some time.

Conclusion

Any type of divorce is hard, and it’s even harder when you think of all the details that need to be completed before the end of the process. 

Getting a professional help, and finding a right solicitor that will address all of your questions in such situations is crucial. Keep your chin up, and don’t be afraid to ask for help, in order to understand your rights fully.

Leila Dorari is a marketing consultant and a freelance writer from Sydney. She has been working with different companies for 5 years now. When taking a break from making new marketing slogans, she is either window shopping or exploring new ways to make her life more meaningful.