Your Quick Guide To Going For Growth In 2018

There’s no doubt about it, this last year has been one of the strangest of all with a new President, unrest in the world and the continuing saga of the UK’s plans to leave the EU.

So now it’s time to start questioning what 2018 holds in store for us and how we can all start to make our hard-earned cash work even harder for us. A good place to start would be to look at what we can say about the way the economy will be headed in 2018, or what we may be able to predict.

The first thing to say would be that already the Federal Reserve has indicated that interest rates may be raised up to four times over the next 12 months. While it’s all but impossible to predict what this will mean in actual terms it is fairly safe to say that, for many, this will place an extra burden on their finances while also making savings rates a little more favourable.

It’s also important to look at exactly why rates may have to rise and the reasons are far from bad. In fact, it’s that the economy is on the up, unemployment’s going down and even globally there are the early stirrings of other countries’ economies coming back to life. So it all adds up to the fact that we’ll be going into 2018 on a strong economic wave.




We also know the stock market will start 2018 at near historic highs as the S&P 500 is currently running a Shiller price-to-earnings ratio of 32, which is nearly double the long-term. average. What this means is that to really maximise your returns and take full advantage of the situation, you’ll have to be extra vigilant about where you invest.

It’s also worth noting that it seems like neither pronouncements from President Trump or the risk of conflict in North Korea have had any effect on the markets over 2017, but that’s not to say that these factors won’t come into play in 2018.

So let’s take a look at some of the investments that could pay off for you over the next year. It’s in no way intended to be definite guidance but it should certainly give you plenty to think about.

Your 401(k) Plan is a great investment - especially for the over 50s

If you thought that tax shelters were only for the super-rich it might be a big surprise for you to learn that you’re sitting on one right now, whatever the level of your wealth, and it’s called the 401(k).

Now you may also have thought that the 401(k) plan is, at best, some far from impressive mutual funds which also have high fees attached to them. But, in fact, it’s a very good and tax-efficient place for your money.

For example, if you currently pay 25% tax then for every dollar you invest it’s an extra 25 cents of your investment that’s compounding, and this, over time, is of huge benefit to you. The fact that next year the IRS is going to increase the annual contribution limit on 401(k) plans to $18,500, excluding employer matching, is good news PLUS if you’re 50 or older, you can add another $6,000 per year making $24,500.

So, even if you’re nervous about where the market may be heading, you really should try to maximize your 401(k) plan, especially as there are money market and stable value funds to invest in with minimal risks.

Consider alternative investments too

While there is plenty to recommend the stock market both as a tried and trusted method of increasing wealth, at least during the good times, as well as being a way to own a stake in the US economy, it’s not necessarily always the very best place to invest.

You only have to look at the 13 years between 1968 to 1981 when the Dow Jones Industrial Average actually lost money when inflation was taken into account. But over the same period commodities and gold did far better, especially in the case of the latter whose value rocketed by 2,000% between 1971 to 1980. So the moral of this story is not just to buy gold to think about diversifying in order to not be just relying on the market.

A word of caution, though. When you’re thinking about investing in alternatives you need to be aware that it’s far less regulated than the stocks and bonds markets so a little more diligence is needed. You should also never invest in something you never fully understand. We only have to look back as far as 2008/9 to see exactly where that can lead.

The Bitcoin bubble?

One example of understanding what you’re getting into before you make the leap is the Bitcoin and other cryptocurrencies.

Throughout the year Bitcoin has been hitting the headlines as its value has gradually increased, finally hitting the symbolic $10,000 mark in November. There are also many stories about the people who got in at the earliest days and now are finding that they are multi-millionaires, on paper at least. But, even in the light of these huge gains in value, there’s also increasing disquiet amongst banks and economists that this is showing all the signs of a classic bubble, and we all know what happens when they burst.

The fact is that Bitcoin’s key strength and point of difference in the eyes of some – its independence from governments and financial institutions – is also its biggest weakness. The facts behind this expressed very succinctly by Rodney Johnson, the head of the highly respected economic forecasting firm Dent Research who has pronounced that “If a company or commodity has no assets, no returns and no backing, what’s it worth? In a word, ‘priceless.’ Some will see zero value, others infinite value”. So it very much depends on how you stand on this point which will dictate your attitude to jumping on the Bitcoin bandwagon.

When asked more precisely about his attitudes to investing in a cryptocurrency Johnson was also quoted as saying. “I wouldn’t risk any significant portion of my wealth on such a thing. But I might put a few dollars in, like buying an investment lottery ticket.”

So, in terms of gambles, you might well be better off trying your luck at any of the many online casinos that offer you the chance to take up free spins and bonuses and play without putting up a single cent of your own money, in a fiat currency, of course!

Go for value stocks

So now we’ve covered off these areas, it’s time to take a look at the sorts of stocks that could prove to be a good investment throughout 2018 and beyond.

There’s a simple reason why we’ve left this to last and that’s because your first priority should always to be making your definite savings decisions first before seeing what cash is left over for more speculative investments.

Assuming you go have a pot to invest, it could well be worth following the advice given by many market observers who have been advising that we should be looking for value rather than growth. Now this may sound counterintuitive at the end of a year in which the Russell 1000 Growth Index outgunned the Russell 1000 Value Index by showing returns of over 100% more but the tide may be beginning to turn. So talk to your financial advisor and keep a close eye on the financial pages to spot the value opportunities as and when they arise.

As to what all of our financial situations will be at this point next year, only time will tell. But what is certain is that we’ll all be a year older - but hopefully also a little wiser and richer too - and ready to take on all of the challenges that 2019 may have in store for us.

I’m a Senior Over 60 with No Life Insurance - Where Do I Start?

Before starting your search for life insurance for seniors over 60 it’s best to figure out in advance an approximate amount of coverage that you’ll need for final expenses. Include things like funeral costs and any outstanding bills. Once you’ve arrived at an amount, that number will help you choose the type of coverage you should purchase.

Start Small

Starting with smaller amounts, say anything up to $25,000 in coverage, will limit you to simplified issue policies that do not require a paramedic exam. This is the easiest way to purchase life insurance for seniors over 60. 

There are about a dozen insurance companies that offer this type of life insurance. If you can answer all the medical questions asked with a no, then the carrier will issue the policy after examining various databases that will check your medications for the accuracy of your answers. 

If everything is in order, your coverage will start immediately upon payment of the first month’s premium. 

If you have certain health conditions that prevent immediate coverage, you may qualify for a “graded benefit.” 



Policies differ on this coverage with some paying for death for medical reasons after a two-year waiting period while others pay a percentage of the death benefit during the first two or three policy years. (These policies cover accidental death on day one.)

If you are healthy, your decision of which carrier to choose can be based on the cost and quality of the company. If you have health issues, you may qualify with one carrier and not another. 

From your standpoint as a consumer, the best advice as to which insurer to use should come from an experienced independent agent. They know how the questions differ and can help you to choose the right company for your situation.

Guaranteed Issue Coverage

If you are unable to qualify medically for life insurance, you still can purchase “guaranteed issue” coverage. This policy type is available to most people as long as they can sign the application. 

Applicants must be 85 years old or younger. In a few states, 80 is the maximum age. Unlike other coverage, this policy has a two-year wait before the death benefit takes effect. 

However, if the insured dies within that two-year timeframe, all premiums paid plus interest are returned to the beneficiary.

Seniors also have the ability to buy a fully underwritten policy that requires a paramedic exam and medical records. Depending on where you live, it is possible to purchase $25,000 or more of life insurance. (Some states require a minimum face amount of $50,000.) 

Because the insurance company will have more information with which to make a decision, the cost of coverage is less, in some cases significantly. Because of this, a potential applicant who wants or needs $15,000 of “final expense” coverage may wish to compare premiums to a $25,000 policy that is fully underwritten. 

Although many seniors are not comfortable with having blood drawn, often having another family member present will alleviate that concern.

Term Insurance for Seniors

A word about term insurance for seniors. Although term coverage is available for purchase well into the ’70s for many people, there are many differences between buying term vs. permanent coverage at older ages. 

 While term is less expensive than permanent coverage at younger ages, that is not as much the case when you’re older. Also, there is the real risk of having term coverage end while you are still living. 

What’s important here is the purpose of the coverage. While most seniors purchase coverage to protect their family having to pay final expenses including funeral and other obligations, some seniors only need insurance for a short time to cover a mortgage or some other temporary need. In this case, it is reasonable to consider term insurance.

While this article is intended to acquaint you with the various options available when buying seniors life insurance over age 60, each applicant may have unique health issues which can impact the choices available to you. 

Therefore, while the information in this article will help you to understand the various types of life insurance, there is no substitute for an experienced independent life insurance agent. 

Not only can an agent help you to finalize the appropriate coverage for you, but the agent can also give advice based on your current health and compare premium prices to ensure you get the best value for your money.

For additional information on senior life insurance, visit Life Insurance Guide to Policies & Companies.

Know About 5 Challenges of Bad Credit Borrowers

No one plans to accumulate debts and invite the credit hassles. But sometimes, personal or financial emergencies cripple your life plans. Be it insufficient income source or excessive expenses, as you struggle to repay loans, missing a loan instalment would hurt your credit score. Besides, living in the state of stalemate is never good for your financial health.

Bad Credit Borrowers

Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk posed by lending money to consumers and to mitigate losses due to bad debt. 

Lenders use credit scores to determine who qualifies for a loan, at what interest rate, and what credit limits. Lenders also use credit scores to determine which customers are likely to bring in the most revenue. 

The use of credit or identity scoring prior to authorizing access or granting credit is an implementation of a trusted system.

It is better to take charge of your life as early as possible and search for viable funding options such as swift short term loans or debt consolidation loans in UK. 

The choice would entirely depend on your credit health. Factors such as required loan amount, loan purpose and your credit affordability would help you make a better decision.

Bad Credit Loans

Searching for bad credit loans would not be a cakewalk, and only persistent efforts in the direction would help your cause. 

To make things convenient you may consider using services of an experienced loan broker in the UK. You can contact an FCA authorised broker and avail hassle free access to deals according to your credit situation. 



Most brokers share tailored loan advice free of cost to borrowers and there is no upfront fee involved. You also save a lot of time and headache required for searching a deal.

Now before you contact a loan broker for bad credit loans without guarantor, it is important to understand following points about bad credit borrowing:

1. Cost of bad credit loans

With low credit score, your loan eligibility is low. Your loan application is marked risky and most lenders would cost high interest rate. 

Whether you need instant payday loans or instalment loans for bad credit, you would get expensive loan with higher processing fees. Thus you should be prepared to shell out more from your pocket with poor credit rating.

2. Do not borrow more than what you need

Contacting a loan broker you are likely to get access to available bad credit loans. However before you choose any of the deals made available to you, make sure you restrict yourself to the amount you compulsively need. 
Do not borrow more than what you need. For borrowing more than your requirement could make it difficult for you to manage your repayments later on.

3. Always check the credentials before availing a deal

Also it is important to ensure that you make a transparent deal with a reliable lender. It is recommended to deal with registered loan partners only. 

Herein you must also know that it is illegal to lend in the UK without a license. Check all the credentials and read documents carefully.

4. Have a repayment plan

While choosing the loan for your situation, make sure you pick a loan that has affordable monthly instalment. 

When you borrow according to your repayment capacity, you are more likely to succeed at the loan repayment. You could peacefully repay the loan and build good history.

5. Impact of bad credit loans on score

When you borrow despite poor rating, it certainly brings on red flag on your report. However repaying the loan on time you build good history and improve your credit score. 

In fact, with rightful planning and discipline you can use instalment loans to mend your credit score.

Should You Jeopardize Your Nest Egg to Repay Your Credit Card Debt?

The total outstanding value of US credit card debt is now over $1.02 trillion. This places a significant burden on total US household debt, and amounts to a debt burden of around $7,000 per household. It is encouraging to note that less than 50% of US households have any credit card debt whatsoever.

If we exclude these households with no debt, then the average credit card debt for indebted people amounts to $15,624. While this figure is substantial, it is also much lower than it has been in 5 years. Consider the following average credit card debt balances among debt carrying households since 2013:

• 2013 – $16,319
• 2014 – $15,876
• 2015 – $15,692
• 2016 – $15,810
• 2017 – $15,654

These numbers paint a skewed picture of the actual debt burden. Over the years, the average household debt may have declined among debt carrying households, but the overall level of debt has increased substantially. Simply put, more people are sharing the debt burden than ever before. 

This is largely due to an era of ultralow interest rates which made borrowing cost effective for so many US households. The percentage of US households carrying credit card debt has increased from 38.1% in 2013 to 45.6% in 2017, and this trend shows no indication of slowing down. 


With unemployment hovering around 4.1%, and the US economy booming, spending is on the up and up. Easy access to credit has facilitated a credit boom, even after banks and financial institutions clamped down post global crisis.

If You Are in Debt, How Should You Pay for It?

Naturally, there are concerns about how best to manage debt. Several options are available to reduce the debt burden, notably switching (transferring) debt from high interest credit cards to lower interest credit cards. 

This method is heavily promoted in the media, and by credit card companies, but it comes with a caveat: There are costs involved in transferring balances from one account to another. All the pros and cons should be weighed up against one another.

Other options include using a savings account such as a 401(k) for retirement to pay down credit cards. This is generally not advisable, since it will cause disruption to your retirement nest egg, and there are various penalties and tax consequences to contend with. 

An important consideration when it comes to credit card debt is that it is unsecured debt. This means that it can generally get discharged in a bankruptcy filing, and assets cannot be attached to its repayment.

Perhaps the most pressing question for the 50+ generation is why the debt still exists? Debt elimination, debt management, and debt consolidation options are readily available from multiple bank and non-bank entities. Sometimes, it may be a good idea to discuss the situation with a financial planner.

What’s the Worst That Can Happen with Unsecured Debt?

If there is absolutely no other way to repay credit card debt, and you risk ruining your credit profile, it is possible to use a 401(k) loan to repay credit card debt. These loans are much more cost-effective than credit cards, and the interest that you pay goes directly to your own account. 

On the plus side, there is no negative effect on your credit score. Experts do not recommend taking money from retirement to pay down credit card debts, since money in hand is more valuable than access to credit that can easily get taken away from you.

Other ways to consolidate your credit card debt include home equity loans, unsecured personal loans, and balance transfer cards. These methods should be assessed on their merits, given that there are pros and cons associated with each of them. 

It is never advisable to transfer debt from an unsecured line of credit to a secured line of credit such as a mortgage loan or a home equity loan.

You stand to risk a lot more than your credit score if you cannot make the repayment. The balance transfer card option is a viable solution provided your credit score is high. Be advised that the interest-free component will cease after 12-18 months. 

For unpaid credit card debts, you could face a loss of credit lines and a reduced credit score. You will however get to keep your existing assets, pending further litigation.

6 Secrets to Saving Big on Healthcare Expenses

If your family is like many, you might find that you spend a lot of money on healthcare. This can be easy to do, and you could be having a hard time fitting healthcare costs into your budget. However, of course, you and your family’s health is important. Luckily, it is possible to ensure that your family gets the healthcare that it needs without going over your budget. These are a few secrets that can help you save big bucks.

Take Advantage of Free or Low-Cost Services

First of all, when possible, consider taking advantage of free or low-cost services. If you’re offered healthcare screenings or other services through your job, utilize these services. You may also be able to find free or low-cost screenings, flu shots and other healthcare services for the people in your community.

Focus on Proper At-Home Preventative Care

Taking good care of yourself at home can help you reduce your current and future healthcare costs. For example, a lot of people forget that Hammond dental care can have a big impact on your overall health. Brushing, flossing and otherwise taking care of your teeth can help you prevent issues in the future. 

Additionally, eating a healthy diet, exercising and doing what you can to stay healthy can also help you reduce future healthcare costs and can help you look and feel your best right now as well.

Check for Errors

Many people don’t take the time to read the bills and invoices from their doctor’s offices. However, a simple mistake could end up costing you a lot of money. Therefore, it’s always a good idea to look over your invoices to look for any potential errors before paying a bill.

Choose the Right Facility for Your Healthcare

Some people get stuck in the rut of seeing the same doctors and heading to the same healthcare clinics over and over again. However, it is important to make sure that you are going to the right clinic.

For example, before seeing a dentist, consider calling around and asking about the cost of basic services, such as X-rays or cleanings. If you need to have major dental work done, it’s definitely worth it to call around and look for the best deal.

If you aren’t experiencing a medical emergency, avoid going to the emergency room; the emergency room can be a lot more expensive, and you could have to wait longer for care as well. Instead, consider utilizing urgent care facilities and primary care clinics for basic care, which can be much more affordable.

Ask for Cash Discounts

If you pay for a lot of your healthcare expenses out-of-pocket, you may want to consider asking for a cash discount. Many doctor’s offices, hospitals and more will offer a discount if you are paying for everything upfront. 

This is because they are saved a lot of time and money due to not having to send out bills or deal with an insurance company. You could be surprised by how much they will be willing to negotiate with you if you have the money to make the payment ahead of time.

Look for Ways to Save on Medication

If you spend a lot of money on medication, you should know that there are ways to cut costs. Ask your doctor if there is a cheaper prescription available, and consider opting for generic brands of medication. Some pharmacies offer loyalty programs that can allow you to save money on your prescription costs as well.

As you can see, there are ways that you can save money on healthcare for yourself and your family. If you follow these tips, you can shave down your costs. Then you can ensure that your family stays as healthy as possible, but you can stick within your budget.

4 Tips to Reduce Holiday Stress

The Holidays, one of the most joyful and wonderful times of the year, is also one of the most stressful times of the year. At times, it can be hard to focus on the moments and enjoying the season, instead of being stressed about finances, making sure the turkey doesn’t get dry, in laws coming into town, and making sure you don’t spoil the Santa surprise for your children. That’s a lot to stress about in just a short few months.

Healthy Coping

It’s inevitable that you’ll feel stressed during this season. Rest knowing that you and your family are creating incredible memories that will be cherished for years to come. In addition, remember that the holiday season is almost over. 

You don’t have to deal with it for very much longer, so you just have to cope with the stress for a few more weeks and then you can focus on the new year.

Amid all of this stress, make sure that you don’t let how overwhelmed you feel make you turn to unhealthy habits to cope with the stress. 

The holiday season is when the majority of relapses happen. Whether you’ve ever had issues with substance abuse or not, don’t let yourself rely on alcohol and other substances to relieve stress.

Take a Step Back and Breathe

As Thanksgiving has ended and we’re nearing Christmas, the stress is paramount. It may feel like too much, sometimes. When you start to feel overwhelmed, make a conscious effort to take a step back and to take a break. 

Everything that is stressing you out will still be there when you get back, and the house isn’t going to burn down if you need to take twenty minutes to yourself before you throw yourself back into the thick of it. 

Go into your room and lock the door, and just close your eyes. Even if you have to lock yourself in your closet, or bathroom, or office, whatever room of the house you can get a few minutes of peace to focus, take advantage of that room and give yourself a few minutes. 

You deserve it. Close your eyes, and focus on your breathing. This link has a great guide for breathing exercises. Taking just a few minutes to focus on breathing will help clear your mind and better prepare you to handle all of the issues that are waiting for you when you’re ready to tackle them. 

Don’t Eat too Many Holiday Goodies

It’s much too easy to let your nutrition go during the holiday season. Pies, cakes, puddings, halloween candy, and stocking stuffer candy is just the beginning of the tempting holiday goodies. 

There’s a reason why most people need to dedicate the first few months of the year to lose weight! The holidays are really filled with candy and goodies, and while it’s fine to indulge and let yourself enjoy everything that this holiday season has to offer, you also need to make sure you know when to stop. 

Don’t let yourself get carried away. Make sure you’re conscious of every single thing you put in your mouth. If you start eating mindlessly, soon enough you’ll find yourself with an empty pie tin and an entire bag of Reese’s Peanut Butter trees gone. 

Having a proper diet will help you deal with stressful situations better. In fact, having a proper diet affects a lot more areas of your life than you would probably realize. Eating right will help you have more purposeful sleep, improve your skin and hair, as well as improve your mood. If you’re happy, your holidays will be happier.

Focus on Experiences, Rather than Things

A lot of what makes the holidays special is all of the gift giving. Giving gifts to your loved ones is a fun experience, but it’s all too easy to get wrapped up in the pursuit of the perfect gift for the people in your life. 

It’s just too easy to forget about why we celebrate the holidays, and focus instead on just gifts and things. Try to shift your mindset from things, to experiences. Experience reading Christmas stories with your family while you all sip on hot cider. 

Experience driving around to see the most extravagant holiday lights you can find. Take time during the holidays to create new traditions that are focused on experiences, rather than gifts and things.