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Retirement Tips – www.midfin.com – Identifying and avoiding traps will affect your retirement so its important to learn about how to properly plan for and receive your retirement income. Midlands Financial Benefits helps you get in control of your retirement and take the steps necessary to avoid common retirement traps. Don’t wait until you retire, take part in the ongoing planning process sooner rather than later. http
This is Jeff Rose, goodfinancialcents.com. I just want to take a quick minute to address an occurrence that has actually happened more often over the past few weeks. I have some clients that are approaching retirement. They are getting ready to flip that switch where they no longer have that paycheck they have been so accustomed to their entire life, to now they’re paycheck is going to become their retirement account. Their IRAs will now be depositing directly into their bank accounts and that’s going to be their paycheck, so that is what they have to live off of. The mistake that I am seeing a lot of them want to do is they want to pay off all their debt. They think they still need the exact same amount they were getting as they were working, so they want to keep drawing the same amount of paycheck. The one thing I have to go over with them again is this: 1) Okay, I agree, paying off debt is a very good thing. I want people to do it, but not from the stand point of having to pay extra tax by doing so. What I mean is these clients are wanting to take distributions from their IRAs or pensions and pay the appropriate 20, in some cases we’re talking 25%, taxes to pay off the debt. If the debt is a car note, which often time it is to where their note interest rate is anywhere from 4-6%, I just don’t see the point of paying 25% income tax to pay off a note that is only having to yield you 6% interest. One thing I would just have you consider is when you do retire and you want …
The following News Release or Speech was posted on the Finance Canada Site May 25, 2009
There are 3 steps you can take today that will increase your chances of being able to successfully retire.
If you are wondering what’s going on … effective April 1, 2009 we will be combining all “And You Will” series of blogs (the subdomains of http://AndYouWill.com) into this main blog for all time and existence!
Hi. I’m on vacation now, at the cottage .. on a wireless EVDO connection with my Laptop computer, sitting in the shade at my … well .. something I am practicing for when I do retire – My New Home Office!
Many people view retirement and financial planning as two different animals but the reality is they are both part of the same financial beast. In either case, if they are not treated properly by the time retirement age comes around, many folks will have to keep working just to make ends meet or be eaten alive by debt. Many older Americans, unfortunately did not start early enough saving for retirement, if at all and instead of looking at retirement and financial planning they were counting on retirement benefits from their job and Social Security benefits to see them through.
Doesn’t it just figure? You finally get to retirement, having earned that peaceful respite after a long life of working. However, you start to develop sleep issues which hinder your ability to get a good night’s rest. If you have a problem getting to sleep or staying that way, chances are that you are not getting the rest you need to feel rejuvenated. There are some things you can try however, to re-capture that time with the Sandman:
Everyone deals with pain at some point or another. It could be the pain of childbirth or the pain you get when you get a cavity in a tooth. Breaking a leg, suffering from cancer, having a headache … all are forms of pain. And of course, pain also clouds many other areas of your life such as creating sleeping difficulties, fatigue, depression, irritability, work problems and loss of physical and social pleasure.
Retirement planning is the thought and commitment that you put into providing for income and a comfortable lifestyle for the years after you leave the workforce, and it is one of the most important times in anyone’s life. Waiting until retirement actually approaches in your life is going to be too late to get yourself prepared and ready, and so the earlier you can start the better, even if it is as early as your teenage years, although some consider that to be silly.
When you sit down with a financial advisor, you will first be given a retirement planning questionnaire. This retirement planning questionnaire will determine how good you are at putting money away. It will examine your spending habits, what your spend your money on and it will determine how much you have to put aside each month. Once you get done with the financial planning questionnaire, your financial advisor will then be prepared to design a plan for you so that you can finally plan for retirement. This plan will ensure you have money put away to enjoy yourself once you actually do retire, which is the main point of visiting a financial advisor in the first place.
People in the military usually have a much different retirement plan than ordinary civilians so they should use a special military retirement calculator when planning for an ideal retirement. Military retirement calculators should provide information that will help each person make important decisions. Usually military people are eligible for retirement earlier than civilians. This means that they might have to save more money faster to have a great retirement or plan to find another job after their retirement from the military. People in the military should consider these factors when working with a military retirement calculator to make their plans for the future.
You cannot reverse the signs of aging but you can certainly make the process more comfortable. When you know what to expect, you can take steps in advance in preparation of it. Growing old is more than just wrinkles and gray hair. There are a few more aches and pains to go along with them!
Nobody wants to work forever. Most people plan to retire at some point in their lives, usually around fifty or so. Planning for retirement is something that should be done way ahead of that point, however, and there’s no better time to start than the present. If you don’t know how to plan for this time, there is help available. You can go visit a financial planner, you can talk to your employer about your 401K if it’s available, and you can even go out and buy some financial planning software if you want to go it alone. Planning for retirement can be fun, and it should be. After all, this is the time you are supposed to lay back and relax after years of hard work and looking forward to that time can be the motivation most of us need to get started with our planning.