There are things you can do to save more for your retirement. Consider four basic strategies: Rearrange Your Priorities Pay yourself first. You may feel that you're not doing the right thing or it may be selfish to put yourself before saving for your children's college education, among other things. However, it is critical that you save for retirement first. Take advantage of all company retirement plans and other tax-free or tax-deferred retirement accounts.
If you are five years or less away from retirement, you're close enough to calculate approximate income and expenses. Your goal is to have enough money to live on comfortably and not outlive your assets. You need to match your expected lifestyle expenditures with your projected cash flow and provide for contingencies, such as extended illness, rapid inflation, and losses in your investments. Cash flow planning is an important part of retirement planning.
When deciding to take out a Home Equity Line of Credit, one of the first things someone will research is the rate they will pay. As they research rates offered by various lenders, they often learn that more and more banks offer what is called risk-based pricing, which then prompts the question, “What exactly is risk-based pricing?”
How Company Retirement Plans Protect Your Savings Generally, your retirement benefits are protected in such a way that no one other than you will be allowed an interest in your benefit. There are certain exceptions to this rule, such as a divorce settlement where a qualified domestic relations order is in effect.
Retirement is knocking at your door. It is countdown time. You know that the choices you make today will ultimately affect your lifestyle in the future. Now is the time to do some careful double-checking of all your plans and preparations.
For those approaching retirement, outliving their savings is one of their biggest concerns. The good news is that you don’t have to cross your fingers and hope for the best. There are several proactive steps you can take to ensure your retirement savings will last. Here we discuss three things you can do to help you keep your retirement savings intact.
If you’re looking to borrow a Home Equity Loan or Line of Credit, the term debt-to-income ratio is likely to come up. This is a major consideration when a lender is evaluating a credit application. You'll want to be sure to know what it means.