Be Careful with the Debt Don’t Let Debt Drag You Down

9.Be Careful with the Debt Don’t Let Debt Drag You Down

DebtYou want to be the first to use a new product, newest technology , have you ever consider the overall cost? rethink once before buying because not planning for retirement or retiring with a debt can be a major setback to your happiness later in life. Debt is one of the biggest setbacks to ones retirement, and it is very common to Americans. You have got to figure out a way of breaking off that debt incurring attitude and start saving.

Debt is turning into a growing problem in retirement. Everything else in life, is less of an issue if you have got an idea.  According to the patron of financial Protection Bureau the percentage of house owners that are sixty five years and older with mortgage debt raised from twenty second minute in 2001 to half-hour in 2011. Among those age seventy five and older, the speed over doubled, from 8.4% to 21.2%.

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Divorce May Bring You Down So Be Careful

8. Divorce May Bring You Down So Be Careful

DivorceIt is not very easy to get divorced; women are the worst hit by the effect of divorce because they are often granted the custody of the children. Even when properties are shared equally they can never meet up with the demands from hope. It is beneficial for you to depend only on your self. Although, it is a great privilege to have children and care for them but at times,

While caring for children is certainly a privilege, the cost can be a heavy burden. Lesson: The only person you should depend on for your financial security is yourself, even if you are married.  Some things to consider to plan against the possibly detrimental effects of divorce:

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Consider the Childcare cost

7. Consider the Childcare cost

Child_CareCaring for a child is not an easy task , from the time you became pregnant you have to visit the hospital to see your obstetrician till the day of delivery all cost money. Children are gifts from god and we have been commission to take care of them and if we don’t plan well, when we retire we may have nothing to fall back on.

When the child is born, looking after their needs also involves money, they need items like clothing, diapers, food, good health care  and a good nursery.  The top most problems is the cost of raising a child. Now a days women are mostly the bread winner or joint bread winner at home, while a large part of them are single mothers. This has greatly affected the cost of child caring and it is going to be a source of worry in the future. The bottom line is that it is very expensive to raise children.

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Don’t Buy Into Market Mayhem

6. Don’t Buy Into Market Mayhem

By market, we are not referring to the store where you go to buy household items. A market in this context refers to the stock market. As an intending retiree you may decide to watch how the market process is carried out. Monitor the bull and bear speculations. Do not be caught in this mayhem as it may lead to regret later in life.

In 2008, we witnessed lots of investor who saw their business going down the drain because of bad market. Unfortunately, many investors out of fear pulled out their stock, this sudden reaction make things bad for them.   Because the S&P 500 Index backfire in 2009 and returned over 26 percent!

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Keep an Eye On Your Career

4.Keep an Eye On Your Career

career

Fortunes doesn’t generally come into place yet individuals will say, how fortunate you are when you settle for a decent choice, however fortunes is  like the flip of a coin, an irregular occasion. There can be occasion where you have the chance to change the way you accomplish something. It might be a little change or something greater like evolving occupations, a decision of two offers, a career change or moving house and so on. Here, your retirement comes in to play. You have to watch your career, where it is leading you and what you need to do to build a solid career that will bring you peace of mind when you finally retire.

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Deal with Dependency

5. Deal with Dependency

Deal With DependencyHaving a lot of dependency can largely affect how you prepare your retirement. With the increasing number of people from nuclear, extended and even the neighbors around your locality, if you don’t know how to say no you may not be able to save for your retirement.

 According to the Pew Research Center, In every  8 Americans more than one of them  between the ages of  40 to 60 has a child and a parent they are supporting so, they are being caught in a situation you can call being in between two hard rocks.  A lot of things can be done to ensure that you don’t fall into this ugly situation that will make you to sacrifice your retirement just to support others.

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Make saving a habit

 3.Make saving a habit

saving_moneyThere is no better way to this, don’t regard me as being blunt. No short cut to savings you have to continue to save as if tomorrow will never come. If you earns $1 and you finds it to save a penny out of it when you eventually have a breakthrough and you are making a thousand dollars or more monthly you will find it very hard to save.

I know I may sound like a broken record, however more than half of all laborers and retirees say they have not exactly $25,000 in reserve funds, as per a 2011 study by the Employee Benefit Research Institute. Keeping in mind we all may have a thousand and one reasons why we can’t save, actually saving something, anything, is still superior to anything saving nothing. saving cash doesn’t need to be hard in the event that we make it a need and as programmed as could be allowed. Begin with the smallest sum you can secure every week, and attempt to expand it month to month, or quarterly, as you construct a greater and greater investment account. (more…)

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Consider Inflation

2 . Consider Inflation

Consider InflationIt’s inevitable: the more time passes, the more expensive things get. So, when planning for the future, make sure not to overlook inflation and it impacts on the value of your money in the future.  For example: to have what feels like $1 million today in 30 years, you need to have saved nearly $2.5 million! While that sounds downright depressing–trust me, I sympathize–the bigger point here is to make sure you don’t forget that pesky 3% annual cost of living increase (on average) when you’re calculating your retirement needs.

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There are 9 Ways to Guarantee Your Retirement

  There are 9 Ways to Guarantee Your Retirement

 1. It’s you’r decision

retirementThere was a time when people had an old and boring idea regarding the retirement. It was  the era where one gets nothing to do after the age of 65 while the pension and related services are there to help you out.

Now the time has changed, Now the people needs  security once they get retired, and no doubt it’s the right step. Things are changing rapidly when we talk about the social security and other related financial programs that were provided some time ago. The pension programs are decreasing at a faster fate than  before. The policy of funding which usually worth 4oo thousands is also being changed and the old people now do feel some insecurity. So it’s better to get ourselves prepared before the time finishes because according to a survey these social security services can run out in probably 25 coming year.

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