August 31, 2009 | Posted by headman
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.
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.
Categories: Investments, Mid-Life Retirement, Retirement, Retirement Income | 
Tags: Investing For Retirement, Investments, IRA, Retirement Funds | 
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August 31, 2009 | Posted by headman
When searching and sifting through copious amounts of confusing and conflicting information concerning financial retirement savings and plans it is quite likely that you have come across the term 401(k). You may have wondered if that was the newest robot in the Star Wars saga but the truth of the matter is that it is a type of retirement savings plans that is designed so that employees and employers alike can contribute to a fund that is set aside for your future retirement.
Many people invest pretax earnings into their 401(k) funds, which they then have the option to invest in mutual funds of many options. You will find these mutual funds in a wide array of choices from money market accounts to very aggressive and risky stock portfolios. If you work for one of the many companies across the country that offers the option of a 401(k) plan you would be literally robbing your future self not to take advantage of this offering.
There are 3 general types of contributions to 401(k) plans: matching contributions, elective contributions, and non-elective contributions.
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Categories: Investments, Mid-Life Retirement, Retirement, Retirement Income, management | Tags: 401(k) | No Comments »
August 24, 2009 | Posted by headman
Don’t let retirement be forced on you or think you have to continue in a job you dislike because the Pensions Industry has messed up. Active retirement might be the answer when all you actually want to do is stop what you’ve been doing but not “hang up your boots” altogether.
This may be a good choice for you – especially if you are keen to maintain intellectual stimulation; you like a challenge AND you have expert knowledge in some subject or another.
For most people contemplating retirement, or early retirement, the main concern is money; however, far from thinking of putting your feet up, there are other and better ways to supplement your investments or pension.
Here’s What Active Retirement Can Be Like…
Like many of us, you would probably be keen to supplement your personal pension income. If you enjoy mental stimulation or need to have a sense of purpose you’ll be less concerned that without a job you lose a large part of your identity.
You can read the rets of this article at Active Retirement May Be Your Answer
Categories: Mid-Life Retirement, Retirement, Retirement Income, Third Age Activities | Tags: Retirement activity, Retirement Funds, Retirement Income, Save Money | No Comments »
August 17, 2009 | Posted by headman
Many of you will consider downsizing when you retire. You’re now empty nesters and you no longer need the large home you raised your family in, so you’re thinking about buying a smaller home, a condo, or another option. If the real estate market is right, this can be a money-saving option. If the market hasn’t recovered yet, think about downsizing right where you are.
Downsizing doesn’t have to mean moving. It can mean living in fewer rooms in your current home, or it can mean cleaning out some of the clutter that has accumulated over the years. In fact, cleaning out the clutter can help you live in fewer rooms. Look, really look, around your basement, attic, and closets with a fresh eye. How much sporting equipment is still taking up space when the last time you used it was 10 years ago? A kayak, a canoe, water skis, snow skis and poles? Bowling balls and shoes? You probably loved those sports at one time, but if you no longer use those items, consider them a source of income. You can list sporting goods and exercise equipment on Craigslist or in classified ads and get good money for them. What a deal–clean out your closets and make money too!
It doesn’t have to be just big items that help you downsize. Do you still have some of your professional wardrobe? How often do you wear those clothes now? If they are still stylish, consider sending them to a consignment shop. They must be clean and in good condition, but when the item sells, you get a percentage of the profits. There are also stores that take jewelry on consignment, or if you have jewelry of gold or sterling silver, you can sell that for the precious metal content. Of course, you won’t get nearly as much as selling it intact, but it’s better than gathering dust in your drawers, especially if it’s broken or mismatched.
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Categories: Retirement, Retirement Income, Third Age Activities | Tags: Investments, Retirement Funds, Retirement Income, Save Money | No Comments »
January 8, 2008 | Posted by headman
Thinking about retirement but can’t afford it yet?
You can make money online with ANY legitimate business IF you have the right tools and IF you know how to use those tools!
If you have a skill or specialist knowledge to offer, the drive to do something with it, the time to invest and the health to support your ambition, then you have the basis of a business that can bring real retirement benefits, allow you to make the most of your investment income, and above all continuing career satisfaction.
You probably haven’t given it much thought but you could build an online business based upon what you know. You’ve amassed a great deal of knowledge from your work experience, your hobbies, passions, or past-times. Think about the website you’re looking at now; this all comes from my specialist knowledge and a set of tools called Site Build It that removes any need for technical knowledge – you could do it too, and if you let me I’ll show you.
Needless to say I’m only recommending something that I know works; I had no web-site building skills yet I’ve been able to put this together in a very short space of time – you could do it too!
I’m going to give you a few ideas that show you exactly what is possible if you know your subject matter. And if you’re really motivated you can build a solid business with interest and intellectual stimulation that provides information to others who can benefit from your knowledge, whilst creating extra income for you and your family. You never have to sell a product or service; you can build upon this foundation of information. It’s your choice, depending on your skills, inclination, and time availability.
But if you do like the idea of selling a service; perhaps using your knowledge as a Consultant, you could offer a service related to your particular niche. Since every service revolves around a theme you could build a client base, whether clients are local (e.g. business consulting, or organizing children’s birthday parties) or global (e.g. assessing the value of antiquarian books or travel services). Or you could start a completely new service business — what do you know or do, that is of value to others?
This is how you can start to build an ever-growing client base until you can say… “I’m sorry… I’m not taking new clients”. And with it additional income.
Just like me, before getting too involved you’d probably want to see what other people like you and I have done, and perhaps get some good ideas for yourself take a look at
these results of real people, hundreds of them.
You’ve also probably got lots of questions and want answers? Just try this for phone/chat/e-mail to ask a question.
Categories: Mid-Life Retirement, New Careers, Retirement Income, Third Age Activities, leadership, management | Tags: Retirement activity, Retirement Income, Save Money | No Comments »
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