Daily Coupon USA

My Wordpress Blog

Daily Coupon USA - My Wordpress Blog


Saving is no longer as simple as keeping all your coinage in a jar on the mantelpiece or storing cash in the mattress. The world has become a technologically and economically complex place. Whilst the earliest forms of insurance, relating to business risk and retirement, date as far back as the Chinese in the 3rd century BCE, the methods of payment and options available were limited. A once off payment was all that was needed and you could get up to double your money back.
Digital technology and our diverse economic systems and policies have increased our options both for investment and for risk protection. This is an arena that is constantly changing, growing rapidly and needs to be monitored regularly – which is one reason for having your own financial planner!
Regardless of how your portfolio looks, there are some standard principles to employ when saving for the future:

Step 1. Having a budget

The first step in saving money is to ensure that you know where you are spending your money. Draft a budget. This can be a simple document that shows your inflows on the one side and all your outflows on the other side. Now your goal is to reduce your debt payments, by paying off your most expensive (highest interest rate) debt first. Budgeting is crucial to creating a sustainable investment plan and to ensure that you are saving enough for the future. If you need help with this, go to my contact page and let’s hook up!

Step 2. Choosing your investment options

Now that you have some disposable income and less debt, you need to investigate all the options that are available. Meeting with me will help you find the products that are best suited to your needs. These products vary in length, access to funds, return on your investment and the fees that are involved. If your your saving goal is less than 12 months, then look to your bank and make use of their products. The longer you want to invest for opens up opportunities to make use of Exchange Traded Funds, Unit Trusts as well as Property, Endowments and Retirement Annuities.

Step 3. Protect yourself.

I know! It’s strange to mention insurance in an article about savings but it is really important. If you are not able to earn your income, you are unable to maintain your saving goals and the investments that you have put in place. It’s a good idea to speak to me review your entire portfolio every year, to ensure that you are getting the best cover for your money.
And that’s it in a nutshell! Remember, the more we talk, the higher your chance of making wise choices around the future of your earnings to provide for yourself and your family!
source: http://www.richideas.co.za/p/saving-is-no-longer-as-simple-as.html

Late bloomers don’t worry! Retirement planning for you

late bloomers

One of the biggest concerns is the right amount of money to save for retirement. This is where a lot of people go wrong. They don’t really know how much they should keep aside. The market is getting bigger day by day and so are the rates of commodities.

Saving money for retirement as early as possible is the most important step we all need to take at some point in time. However, there are some people who are not able to stick to a particular retirement plan and end up starting late. Chetan is one such guy who has had a casual attitude towards everything all his life. He didn’t really save anything for his future and consequently faced a lot of troubles while planning for the retirement. If he had invested his money somewhere, then probably he would be getting profitable returns now. One small mistake proved to be life changing for him, but he still managed to do well with his retirement as he got the right advice from experts. One of the biggest concerns is the right amount of money to save for retirement. This is where a lot of people go wrong. They don’t really know how much they should keep aside. The market is getting bigger day by day and so are the rates of commodities. Hence, the bottom line is that you should save as much as you can if you want to live a relaxed life after retirement. Everyone gets a second chance and so even if you are a late bloomer you could do well with your retirement planning. Know the Right Time to Start and Invest Heavily You might probably be a little bit late on getting started with your savings but it is essential to begin quickly. Whenever you have a big sum to invest, you should get started with your retirement planning and saving. When you grow older, you won’t be able to invest as much as you can now as your liabilities and responsibilities increase. So make a move and try to contribute a huge chunk of your savings in one of the premium pension or retirement plans in the market. When you have determined the amount of money you are looking to save, you should try and push back your retirement so that you can get some extra time to arrange more funds. Some examples of popular pension plans in which you can invest your money are discussed below. ICICI Pru Easy Retirement Plan Minimum/Maximum Premium Amount Rs 48, 000/Unlimited Methods of Premium Payment Monthly, Half-Yearly or Annually Minimum/Maximum Age of Entry 35 years/70 years PPT (Premium Payment Term) 5, 10 years or Policy Term Term of Policy 10, 15, 20, 25, 30 years HDFC Life Personal Pension Plus Plan Term of Policy 10 years to 40 years PPT (Premium Payment Term) Same as policy term Entry Age 18 years to 65 years Vesting Age 55 years to 75 years Birla Sun Life Insurance Empower Pension Plan Age of Entry 25 years to 70 years Period of Accumulation 5 years to 30 years and a maximum vesting age of 80 years Policy Pay Term Regular Pay Get Rid of All Your Needless Insurance Policies When you start cutting down your expenses, your savings automatically tend to go up. So, you should start getting rid of all your needless insurance plans which cost a lot of money. If you wish to follow a healthy savings route, you must eliminate all the unnecessary expenses from your daily life and start focusing on saving for your retirement. Avoid buying any luxury vehicle or holiday package when you have already started saving for the future. You should even pay off all your remaining debts, if any, so that you don’t have any financial burdens. In case you had taken a home loan some time ago, then you should first repay it and then proceed towards your retirement planning. Relocate to a less expensive locality or city There are innumerable ways of saving money and one of them is to relocate to a less expensive city or locality. It’s a tried and tested method of racking up funds for future. You could also shift to your hometown where everything is cheaply available rather than living in a costly metropolitan city. The property rates, rents and commodity prices in metropolitan areas are extremely high, which would have an adverse impact on your savings. Have all your monetary instruments well structured Over the course of time, we tend to invest our money in various money making instruments such as fixed deposits, mutual funds and real estate properties. When you have finally made up your mind to go for retirement planning, you should get all your instruments well structured. If there are any kinds of deposits which are not yielding you good profits, you need to close them down. When you have made all the arrangements, you can sit back and relax. Retirement planning in itself is a huge task which takes years to accomplish and hence, requires proper planning and structuring.

Source: http://www.moneycontrol.com/news/retirement/late-bloomers-dont-worry-retirement-planning-for-you_1048686.html