Posts Tagged ‘financial planning’
If nothing else, the economy of recent months should have taught us that no one’s financial future is secure today. In past years we were always told to focus on our 401k investments associated with our jobs and for many of us, this simply was simply done automatcally and forgotten. Although many financial advisors have changed direction in recent months, the vast majority simply wanted to sink their clients investments in the stock market. In reality, those 401k investments depended too much upon the health of the stock market but most of us were hesitant to look for alternatives. Today, there is no doubt that we as individuals should take action and personal responsibility for financial planning our retirement.
There are many ways that you can go about personal financial planning for retirement. You may consider an IRA with a local bank as one option. Be sure to check if your bank has FDIC insurance to cover your investments. Though that insurance will not protect you if you take losses, it will protect your money if your bank were to fail. Recent history has shown us that the financial health of our bank is not always what we might think it to be. A bank representative will be happy to discuss financial planning for retirement with you in detail but always remember their information might not be the most objective view you can obtain.
There is no doubt that a simple savings account kept in a bank protected by the FDIC is always going to be the safest means of saving for the future. But be sure to note what current law states is the maximum amount per account is covered under the FDIC insurance. Most people feel this should be a substantial part of any retirement plan. Be sure to check interest rates but in today’s market, individual banks should vary only slightly if at all.
Money market accounts are safe when financial planning for retirement. But again double check their security since they may not always be covered by the FDIC. Money market accounts should yield a bit higher interest rate then regular savings accounts but the investments can be used for riskier investments by the bank. They also usually have a minimum amount required for opening the account.
There is a huge amount of financial planning information available today on the web. The important thing is to take action and start doing some research on your own so you can feel more secure in making decisions about your retirement.
Now that I’m getting older, I’ve decided that I really need to start saving some money for retirement. I’m still in my mid-thirties, but I don’t even have as much as a single IRA in my name, so I’m definitely behind in the game. I have consider working part time in insurance or bank but not sure of the require financial advisor certification that I need to start.
I’ve been reading news articles about how Social Security isn’t likely going to be around when I retire, so I know I can’t count on the government to take care of me when I am old and helpless. Plus, the cost of living just continues to skyrocket, which means that financial planning is even more important now than ever before.
While I never was in the hurry to do financial planning, I think it is better late than never. I do not have any trusted personal advisor over my financial, so I’ve been doing a little research on the Internet to try to find out how other people are saving up for retirement. I was quite lost with the amount of financial planning information out there, so it’s definitely going to take me some time to go through it all.
From many of the websites I’ve reviewed thus far, I’ve learned that the most important financial planning decision I have to make is what kind of investment vehicles to put my money into. There are plenty to choose from, of course, so I really need to be aware of the return rate I’d be getting before I part with my money. Or I could start some online business or data entry work such as those job from legitimate paid surveys
For example, simply keeping my money in a savings account that yields 3 percent annually isn’t the smartest financial planning move I can make. That rate of return doesn’t justify tying up my money, so I’d be better off putting it in stocks or bonds that can yield two to three times the interest.
Another thing that I learned from the various financial planning online website I visited was that it might be helpful to sit down with a professional planner to go over my current situation. Together, we can work out the goals, and at the same time calculate how much money I think I’ll need for retirement, and work out a viable investment plan to help me reach my goals before age 65.
This is a great idea, so I’m currently looking for someone near me who is qualified to help me with my financial planning needs.
I am happy that I have finally decided to do something for my retirement. I do hope that with proper financial planning, I can have something comfortable to live on when I am old! And maybe I should consider opening setting up a coffee shop business
Most of us fantasize at some point about sudden wealth. What if we were fortunate enough to win the lottery, or a big-money contest, or inherited untold riches? Well, it does happen; what if it happens to you?
If you win the lotto your life is never going to be the same again. Not only your life, but the lives of friends and relatives will also change, and the change may not always be good. Life-changing things have happened to people who have overnight attained the status of being a lotto winner.
Whether you drew the winning lotto numbers yourself or used the windows lotto pro software, the fact is that you will be richer by tens of millions of pounds or euros, and things will start to change almost immediately.
Winning a record prize of £ 11 million, Mark Gardiner thought that all his problems were a thing of the past. However, though his current problems vanished, he got into new ones that he was not capable of or trained to handling. With his business partner, friend Paul Maddison, Mark won the jackpot. Together the two of them won a record £ 22 million; Mark’s share was £ 11 million. Paul shunned the limelight; he retreated into the background while Mark decided to have some fun.
Before he could understand it, Mark blew half of his winnings. Even as Mark bought expensive cars and houses, gave to friends and relatives, married and then divorced, his problems never seemed to end. His family disowned him as if he had committed a crime. Finally, now wiser, he regained his bearings and remarried his first wife, a childhood sweetheart, whom he had divorced when he was penniless.
Fortunately, not all stories are as heart breaking as the one mentioned above. There have been innumerable people who have made good on their fortune and remained grounded. Ianthe Fullagar, just a student, won an astonishing £ 7,055,142. After screaming in disbelief she settled down and called her boyfriend and family and shared the news with them. Ianthe intends to share her new found wealth with her near ones and continues to pursue her law school studies. A new car was the only new thing she planned to purchase.
One anonymous winner donated all his $3 million winnings to his church without batting an eye. The church has taken a decision to expand to accommodate their growing congregation and to also donate some of the money to charities.
The point is, as a lotto winner you are suddenly in a fortunate position to do a lot of good for yourself and for those around you. Your community will benefit as well — if you maintain a cool head and spend the money wisely. It’s a good idea to think ahead — just in case.
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