Thursday, September 15, 2016

Are You Investing Enough for Retirement?

George Bernard Shaw probably said it best: “Youth is wasted on the young.” When you’re fresh out of college and starting your first job, setting aside money for your golden years is the farthest thing from your mind. That lack of interest in planning for your future doesn’t negate the proven fact that now is the time to start your retirement savings.


If you do a bit of research on ways to plan for your future retirement, one strategy stands out. It is included in just about every strategic plan that the experts advise: start saving now, keep saving throughout your working years, and stick to whatever goals you set. Invest your savings to see it grow into that next egg you want for your later years.
What’s the plan?
You must have a plan; there’s no getting around that. When you’re working on your investment planning for retirement, the first thing you need to nail down is how much savings you’ll need to fulfill your retirement dreams. Envision what your retirement will look like, then ask yourself – and your financial adviser – how much that dream is going to cost. Take a look at all the different options open to you, then decide which investments will fit best in your individual retirement plan.
Social Security, et al

If your retirement plan has Social Security as its cornerstone, you may want to rethink your retirement planning strategy. The future of Social Security is heavily tied on the political climate of the country, so depending solely or mostly on it could prove risky. Getting an estimate of the amount of funds you may receive from this source can give you a starting point in your retirement plan, however. Also take into account any defined benefit pension benefits to which you may be entitled upon retirement. This can also impact the total amount that you need to be saving now.


Of course, the earlier you retire, the larger a retirement nest egg you’ll need. If you retire later in life, you’ll likely be retired for a shorter time and can get by with a bit less.


The bottom line: how much?


The burning question is, “how much is enough?” The simple answer to that would be, “as much as possible.” A general rule of thumb is to strive for savings of between 10% to 20% of your annual income throughout your working years. That’s every year, not just a few here and there.

In the early days of your career, this may seem like a big chunk of your paycheck. If you can’t muster the full percentage amount recommended, try to at least contribute an amount equal to your employer’s matching contribution.

Check on your nest egg from time to time to see how you’re doing. Most financial planners consider a withdrawal rate of four percent per year to be an acceptable rate of yearly expenditure from your retirement fund.

Do the math, tighten up the belt, and get your retirement savings on the right track. Start saving for retirement while you’re wasting your youth on being young.



Thursday, June 23, 2016

Personal Lending Grou's Tips For Getting Approved For a Personal Loan

Could a personal loan be right for you?

Personal loans may be utilized for a variety of needs, from paying off credit cards and debt settlement, to your dream vacation, or wedding expenses. They are also useful for building credit and establishing a solid repayment history in order to purchase big-ticket items in your future like a car or a house. Generally, a personal loan is a loan not with no collateral and so your assets can’t be repossessed for non-payment, making them even more appealing.

Personal Lending Group recommends applying for a personal loan online; you’ll find the convenience and flexibility that you can’t get at regular banks. Though the concept is similar – lending money and charging interest based on risk assessment – personal unsecured loans faster and easier than any other bank, private lender, broker, or consultants in the market today. The process is simple and your funds could be delivered in days. With this in mind, to make the process as easy and efficient as possible Personal Lending Group has some tips to be fully prepared when sitting down to apply:

Debts: A summary of other loans and regular debt obligations you have, including the amount of outstanding credit card debt. Your payment history may also be investigated. The greater your debt, the higher the risk so pay down credit cards and other installment loans as much as possible before you move on with the application.

Credit Score: Your credit score plays a huge role in the approval process. Before you apply for a loan, it’s a good idea to check your credit score and do everything you can to improve it. You can request a free annual report from each of the major credit reporting agencies so you can review for accuracy and correct any errors that may drag down your score.

Loan Amount: How much money are you asking to borrow? Typical amounts for online personal loans range from $1,000 to as much as $50,000. Know what you need and what you are comfortable with paying back regarding interest. At Personal Lending Group you can acquire greater amounts than traditional unsecured loans – up to $80,000.

Create a Checklist: Gather all the documentation you need for the loan application like id’s and proper contact information. You may need to work with creditors, your employer and other financial resources to gather everything that you need, so you’ll want to give yourself some time. Current address, e-mail address, and phone numbers are required. Proof of address is also required, such as a utility bill in your name or a copy of a lease. Proof of income such as W-2 forms or tax returns, pay stubs, or bank statements may be required. Proper documentation and information can mean the difference in securing the loan or being denied. They money is worth putting your best efforts forward.

Once you have taken these important steps towards applying for your personal loan, you may find that Personal Lending Group is a great option for your loan needs. Personal Lending Group is here to help you get finances for what you need but also get you on the right path to financial freedom.

Thursday, April 02, 2015

Discount Dining Etiquette

Daily deal sites such as Groupon have become very popular over the last few years – they allow you, as the client, get to take advantage of some really great deals. On Groupon Coupons, Nordstrom has over 30 coupons available, which will lead to some real savings. In other cases, restaurants deals can be particularly enticing, often allowing you to get a free entrĂ©e, drinks, etc.

Of course, these deals and how you use them raise some interesting etiquette issues, especially when it comes to dining out with friends. Is it okay to use your voucher when eating out with friends and, if so, do you use it to pay for only your portion or do you set it off against the whole bill? What is the correct etiquette in these situations?

Who is it that you are going with?

Any time that a bill needs to be split; there is an opportunity for problems to arise. Why not chat to your friends and see what they think? Technically, since you paid for the voucher, you are still paying your share but your friends may not see it that way.

If you are going with friends that you know well, the chances are that they won’t object. If you are going out with acquaintances, or people that you don’t really know all that well, it is better to keep the voucher for a different day.

What is the occasion?

Is it a get-together where you will be running separate bills anyway? Then go ahead and use your voucher.

If it is a special occasion – maybe a friend’s engagement, for example, then you should apply the discount against the whole bill, not just your portion, or not use it at all.

What about the tip?

Remember that you should still contribute the full value of your meal when it comes to the tip, no matter what discount was applied. Not doing so is just going to make you look mean. The server still delivered the same service they would have had you paid full price and they are losing out if you pay less.

The best answer to what can be a sticky question is undoubtedly, if you are in doubt, ask the people you are going with what they think upfront or keep the voucher for another time.

What about the cost of the actual voucher?

Another sticky issue can arise when the voucher is being applied to the whole bill – do you get credit for the cost of the voucher in the first place? Say, for example, you had to pay $10 to get $30 off the cost of the meal. To make things easier, let’s assume each of you had the same meal – if the bill is split evenly, you’ll have paid $10 more than everyone else, because of the voucher cost.

In the simplified example, we are talking about $10, not a lot of money, but the principle is the same for $10 and $100.

Now whether or not the cost of the deal is counted or not can depend on who invited who. Generally speaking, it is assumed that if you invited the others, you are going to pay the cost of the voucher yourself.

If this doesn’t sit right with you, it is a good idea to communicate this before you and your friends go out – then your friends do have some say in the matter as well. It is too late to assume that everyone is on the same page when the check is on its way.

All in all, the issue of whether or not to use your voucher when dining socially can be a little tricky – if you and your friends communicate properly, however, there is no room for misunderstandings.