Investing for Retirement

Retirement may be a long way off for you – or it might be right around the corner. No matter how near or far it is, you've absolutely got to start saving for it now. However, saving for retirement isn't what it used to be with the increase in cost of living and the instability of social security. You have to invest for your retirement, as opposed to saving for it!

Let’s start by taking a look at the retirement plan offered by your company. Once upon a time, these plans were quite sound. However, after the Enron upset and all that followed, people aren't as secure in their company retirement plans anymore. If you choose not to invest in your company’s retirement plan, you do have other options.

First, you can invest in stocks, bonds, mutual funds, certificates of deposit, and money market accounts. You do not have to state to anybody that the returns on these investments are to be used for retirement. Just simply let your money grow overtime, and when certain investments reach their maturity, reinvest them and continue to let your money grow.

You can also open an Individual Retirement Account (IRA). IRA’s are quite popular because the money is not taxed until you withdraw the funds. You may also be able to deduct your IRA contributions from the taxes that you owe. An IRA can be opened at most banks. A ROTH IRA is a newer type of retirement account. With a Roth, you pay taxes on the money that you are investing in your account, but when you cash out, no federal taxes are owed. Roth IRA’s can also be opened at a financial institution.

Another popular type of retirement account is the 401(k). 401(k’s) are typically offered through employers, but you may be able to open a 401(k) on your own. You should speak with a financial planner or accountant to help you with this. The Keogh plan is another type of IRA that is suitable for self employed people. Self-employed small business owners may also be interested in Simplified Employee Pension Plans (SEP). This is another type of Keogh plan that people typically find easier to administer than a regular Keogh plan.

The best for last; investing in real estate would be wise the value of housing or property will not drop. It’s on the rise every year you can reap all the financial benefits leaving inheritance for your children and children’s children.

Whichever retirement investment you choose, just make sure you choose one! Again, do not depend on social security, company retirement plans, or even an inheritance that may or may not come through! Take care of your financial future by investing in it today.

Importance Of Saving: Saving The Best For Last

The value of money cannot be underestimated. In a recent national survey, more than 96%  people agreed that early monetary savings would help one achieve a fruitful and stable life.

Saving is a way of insulating oneself from the many symptoms of health and natural adversity. While an average youth of yester years thinks more about short-term financial goals such as purchasing a new pair of signature shoes, owning a new jet ski or a brand new car, statistics show that more and more are starting to realize the importance of keeping a personal savings.

Long terms goals are described as goals that have a lasting effect should a person’s present actions be religiously maintained.

The following statements are outlined to provide information and tips on how you can start up your money-saving gimmicks and ensure a happy and financially stable future and list the reasons as to why saving money should occupy a greater place in our list of priorities in life.

Reasons for Saving:

1. Saving for your Future and Present Needs – Saving today will provide you with flexible financial resources in the future.
2. Keeping at least 20% of your monthly earnings while using the other for your household, personal and unexpected expenses will surely play a big part in your pursuit for a stable future.
3. Saving for an Investment Need – Savings can also be a source of your future capital for engaging in business enterprises.
4. It will provide you more opportunity for venturing on your unexplored talents and earn you a huge potential in increasing your money exponentially.
5. Saving for your Retirement – More than 23% of today’s elderly were shown to have failed in one instance in their lives, to save and strategically used their money for preparing their way to retirement. As a result, these folks extend their entire retirement career working on an equally satisfying job that pays them enough to cover their basic expenses.

Keys to Fulfilling your Saving Goals:

No matter how good our intentions and objectives for saving are, we should also take note that goals can fall and touched the following baselines or characteristics.

• Attainability – Goals should be something attainable and one which can be achieved without you doing something extraordinary or illegal. A little amount of patience and hard work are key.
• Consistency – Changing your goals from time to time due to incidents that may arise in the near future are sure ways to deterring your intention to save.

While we need to focus on the present incidents, we also need to take hold of our original intention and continue until you have gained enough leads to get it.

Similar Articles:

Importance of saving money

Understand the importance of Saving Money

How to Avoiding Impulse Spending

 Answer these questions truthfully:

1.)        Does your spouse or partner complain that you spend too much money?

2.)        Are you surprised each month when your credit card bill arrives at how much more you charged than you thought you had?

3.)        Do you have more shoes and clothes in your closet than you could ever possibly wear?

4.)        Do you own every new gadget before it has time to collect dust on a retailer’s shelf?

5.)        Do you buy things you didn't know you wanted until you saw them on display in a store?

If you answered yes to any two of the above questions, you are an impulse spender and indulge yourself in retail therapy.

This is not a good thing. It will prevent you from saving for the important things like a house, a new car, a vacation or retirement. You must set some financial goals and resist spending money on items that really don’t matter in the long run.

Impulse spending will not only put a strain on your finances but your relationships, as well. To overcome the problem, the first thing to do is learn to separate your needs from your wants.

Advertisers blitz us hawking their products at us 24/7. The trick is to give yourself a cooling-off period before you buy anything that you have not planned for.

When you go shopping, make a list and take only enough cash to pay for what you have planned to buy. Leave your credit cards at home.

If you see something you think you really need, give yourself two weeks to decide if it is really something you need or something you can easily do without. By following this simple solution, you will mend your financial fences and your relationships.  

God bless

Working at home online jobs

Intrigued by working at home my question is whether it’s possible for one to earn a living working at home on an online job. Who is going to give a job to someone they have not meet? How will worker get compensated? By which standard will your work be evaluated and can you work without supervision?

Who is going to give a job to someone they have not meet?

The deal is not as to whether they have not met this person it is whether they can do the duties assigned satisfactory in the time lines given. Trusting this person with important company information would be risky, therefore precautions and choice of right people is necessary.

Putting that aside there are jobs online that need nothing but know how and simple training that can earn good money for example marketing products for commission using affiliate marketing programs, article writing, data entry and market research to mention but a few.

How will worker get compensated?

If you do duties and are not compensated this is very de-motivating, know beforehand how you paid would help in deciding whether to take up the job. Perhaps negotiating for half payment before hand and the half after completion would work in one's favor.

Having a paypal account or signing up to online payment methods would make it easy for your employer to pay you.

By which standard will your work be evaluated and can you work without supervision?

My guess is that if you are paid and asked to do another job this is evaluation in itself of your skill you are good or have potential.

Who can succeed working at home?

The main key is be motivated and have some skills. It will take a lot of hard work, strong will, organization and determination to be real successful.

Setting some goals on how much you want to earn and time you want to devote to this online job be it full-time or part-time will keep you focused.

Requirements for you to work successful at home

·         A separate work space free from distraction

·         Internet connected computer with desk and chair

·         Ability and desire to work un supervised.

·         Basic use of internet and search engines

·         Accountability of your time.

The good and bad of working at home

The good

1.       You will be your own boss; basically you will decide what to do when to it success is your decision.

2.       There will be no communing to work this will cut your transport expenses.

3.       You will be in control your future

4.       Perhaps you want to raise a family or spend quality time with family and friends this online job will give you a chance to do this.

The bad

1.       No guaranteed salary at end of every month like you are used to

2.       You may have a small steady income no paid medical or dental benefits

3.       Distractions while you’re working that may hinder finished work

In conclusion

Working at home online pays because there will be a balance between work and family time you gain the benefit of both.

Working at home online: Research resources

Work from home data entry jobs:
http://makemoneyathome-intel1.blogspot.com/:            
http://goo.gl/6u0g8
                                                         

Customer service group:  www.customerservicegroup.com/pdf/42415_At_home_FAQs.pdf

Manage Your Debt Today

Submitted by ppiclaims49
Sat, 22 Sep 2012

Today, most of us have taken at last one loan and some more than one. Taking a loan is easy; its repaying them which is hard and needs proper planning and this is where we come in. our experts are ready with debt management plans to assist you with the management of your debt as is best for you. Our debt management plans are individually tailored based on what you can be afford to pay on a monthly basis. To achieve an accurate figure, an income and expenditure test will establish what monies are coming into the household and what is being paid out. Income and expenditure includes everything, such as rent/mortgage, secured loans, utility bills, and essential living expenses (food & TV license etc.). Once the income and expenditure is completed, the leftover amount is considered to be your disposable income which is divided amongst your creditors.
First step towards managing your debt is ti understand the services available to be free from debt. These include:
• Debt Management through Consolidated Loans- All the loans you have taken are consolidated and instead of paying off several loans you have to repay one larger debt off.Paying interest on one loan only saves your money. Many people owe their financial survival to the debt consolidation loans that helped them counter bankruptcy and other debt related problems. Loan provide helps in the settlement of loans.
• Debt consolidation through Debt settlement- under this type, a debt settlement company settles all your debt while you have to repay the company monthly installments to the company.
• Debt Management Education Programs- Many companies are now offering programs on how to control your debt, how to select a loan and how to budget. It helps o keep you from getting caught in debt trap again.
• Debt Consolidated Mortgage- it is a second mortgage that includes some of the debts taken for the previous mortgage. The benefit is that borrower gets to repay at the rate of mortgage.
If your self repayment plan has failed, then it is time to hire a specialized firm to help you out. Never forget to check their license. Profile, their client's testimonials etc. You can go to Attorney General or Better Business Bureau to find out about the company's client services. It would be better to go through their information-privacy policy as well.
Points you should keep in mind while adopting a DMP include:
• Agree on a plan which suits you or else the problem might mount up.
• Inform your creditors and get their approval or it will not work at all.
• Make regular payments on your DMP as not doing so will reduce your credit rating.
• Go for written agreements instead of verbal.
• Maintain a record of your payments to avoid any hassles that may arise in future.
• Get a written agreement from the company to keep your personal information confidential.

Aim of a debt management plan should not be only to reduce the debt and make its payment easier but also to make the borrower aware so that he remains debt free forever.

Pay Yourself

Paying yourself is when  you take a portion of money earned just for your enjoyment, say buy something for you.
Paying yourself is very important for reasons we are going to see below;
Recently I was talking to personal finance expert after being frustrated for not enjoying my job
This is what I realised;

1. If you don’t pay yourself you will get the impression that you are working for nothing. All the income that comes in is paying for this and that, nothing left for you.
2. If I don’t love myself enough to give myself what I need I won’t be able to help or make someone else happy or satisfy anyone I am to serve.  Be generous to yourself, pay yourself an amount equivalent to what you would have earned when fully employed.
3. Your motivation will be as result of the things you do for you after you get that pay cheque. You are really working for something.

Those whose salary comes with all loans already deducted a small portion to pay you would do you good for your motivation purposes.
The lesson in this was self love to motive you.
“Love others as you love yourself “ comes to mind.
Be blessed.

Annual Budget For Better Personal Finances

Hello
I know there are all these complicated budgets, just want to make it simple.
You can make:

• An annual budget
• Monthly budget
• Weekly budget
• Daily budget

This depends on the circumstances, for example a restaurant budget should not be expected to be the same as a personal or family budget. A restaurant would be required to make a daily budget well as person or family can make annual,monthly or weekly budget.

Annual budget
This budget covers the whole year on monthly basis.
It will include expenses which are not in the norm of your expenses which will be expected to incur  for example study or tuition fees which is paid after every three months.
This really helps in planning your money in advance so that you are not caught unaware.

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Income

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

Total

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

Expenses

Rent/mortgage

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

Tuition fees

xxx

xxx

xxx

xxx

Postal rental

xxx

Water

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

Electricity

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

Others

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

Total

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

INCOME minus EXPENSE

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

xxx

The monthly budget we already covered is also similar to the weekly and daily budget,
The other budget you can look at is a household budget.
When making this budget every member of the house is budgeted for according to their particular needs in that month.

Household budget

You spouse  child Dependant Help Grand Total shoes xxx             xxx xxxx fees xxx xxxx clothes xxx xxxx pay xxx Total to include in others on monthly basis xxxx xxxx xxxx xxxx xxxx xxxx

Making a Budget

A budget is money plan

First we look at the importance of a budget:

•     A budget allows you to understand where your money goes.
•     A budget helps you not to spend more than you earn.
•     Budget helps to keep track of personal cash flows.
•      A budget teaches you difference between necessity and luxury.

I do this every month before my earnings come in so this really  works

Requirements for making a budget

You need

       A note book to start keeping records of what you are spending your money on,

 shopping with this note book would not be a bad idea. You could use your diary

The budget should be made before you spend.

•  List your total income for example salary, wage, child support any kind of   moneykind of money coming in.
• List all your likely spending

·         If you can afford you can buy software to help with making budget

Check here http://goo.gl/hY487

This is another link you check out http://christianpf.com/how-to-make-a-budget/

BUDGET FOR MONTH OF	FEB ETC
Income	Amount
Salary after tax	xxx
Extra Income	xxx
Total  Income after tax	xxx
Expense
Tithe (for Christian folk out there)	xxx
Rent	xxx
Electricity	xxx
Water	xxx
Food Stuff	xxx
Yourself	xxx
Others	xxx
Total	xxx
Income minus Expense	xxx

    

This is how I make my monthly budget there several other budgets we shall learn about next time

Solving personal finance dilemma

Hello

Hope all is well

Solving personal finance dilemma

Don’t  hide from your creditors negotiate with them
        How;

•            Be honest with them about your financial position, tell them the truth and come up with solution     together with them.  For example reducing the monthly payments. If you don't this only makes then angry.
•             Explain your commitment to pay that debt, hiding only makes things worse
•              Call them before they call you

Consolidate your debt

Borrowing from official lending agency at low rates for longer period will help clear short term debts.

      Discipline yourself

·         For instance change in lifestyle by focusing on what needs to be done than what you would like to do.

·         A what to do list or a budget every month or for all finances coming in would help you be check

Next time we look at how to make a budget

More signs of adverse personal financial situation.

Hello
Hope all is well

Today am writing about more signs of adverse personal financial situation.
Much as I would like to write about the solutions. It's important to know the symptoms

• If you pay minimum amounts for your bills 

Paying minimum for your bill is better than not paying at all, but its an indicator that your personal finances should be checked. You are running low on cash yet payment of your bills should be priority.

• If you issue post dated cheques with hope that there will be money on that date

The question is what if there is no money on account on that date then your credibility will suffer.

It's important that your creditors trust that you can pay what you owe them. Putting yourself in their shoes you would like the people who owe you to pay.

• If you cannot seem to develop a workable budget

A budget should be part of your personal finance management without one you are going to over spend.

A budget is a plan for all your money which should be done for all your finances 

Next time we well be looking at  more solutions after which how to make workable budget

God bless

Danger signs of adverse personal financial situation

Its been a while

Hope all is well with you and if it's not I pray God  intervenes in your  particular situation.

If you find yourself in the following situations perhaps its time to think about how to solve your personal financial situation.

• Borrowing from friends to meet basic expenses 

Your friends of course are concerned about you and love you, but if this is persistent it could make them weary. It's time to find ways to solve this personal financial situation.

• Creditors and debt collectors calling about overdue  bills which worries you.

Perhaps the land lord  is watching your door like hawk which makes  you uneasy.

• If you don't know how much you owe and you don't want to find out.

Please don't be taken by surprise  keeping records is crucial so that you will not be taken advantage of .

For instance if you keep records you can straighten things out if you are over charged.  

To solve personal financial situation may have to get extra jobs or employment to get that extra income to pay  your debts.
I did come across this great opportunity. 

I hope it is helpful the way it has is for me try this link  http://goo.gl/6g8Bs

God bless

Some solutions to personal financial issues

Today we will be discussing solutions to previous personal financial problem indicators

• A change in behavior may be required to bring personal finances in order like refusing to take new credit offers that come up.
• Always checking your credit card report will always help you monitor your personal finances.
•  Making a monthly budget and sticking with it will help monitor your cash flows
• Stashing some cash away for emergency (saving) would keep one at ease not worrying  about financial situation.

Personal finance

By Cathy

At what point do you realize that your personal finances are in trouble?

I could come up with at least ten indicators but today we look at these:

When you buy things on credit that you used to buy with cash

Credit card allows you to buy items even though you may not have money to pay for them right then if not checked may lead you way deep into personal financial trouble.

Spending more than you earn indicates something is wrong

For instance taking money coming in as payment for work done less money you are spending for basic needs say bills, food, accommodation and this gives you  no balance but instead you need more money to fit your expenses. (Income minus expenses = deficit) then in personal financial trouble.

You borrow from one source to pay off another debt

At one point I had some personal financial trouble I could borrow from one source to pay a long outstanding debt this was a temporary solution since one debt was paid but was increasing my debt. To be honest this was some kind of cycle I knew I was in  deep personal financial trouble so what was I going to do about it.

You know when all this is going on you have no peace you will always be worried about how you will make ends meet. There are so many what if's at this point. What if the bank takes my car, house!! What if am taken to jail?

Don't panic there solutions to all these we shall look at these next time.