The post office is something that has been part of the American landscape for quite some time now. In the past, the post office was bustling with people and there were often no parking spaces, which could be annoying, but at least people where out spending money on mailing packages and letters. The Internet has taken quite a bit of the mailing away now that you can pay your bills online and send emails to friends and family for free. (more…)
The housing market still remains a mess as people still need payday loans to even pay their rent and as the inventory of empty homes is still higher than it has ever been before. When the market is like this and these empty home sit on the bank’s balance sheet, it is hard to see the full recovery happening anytime soon. The goal is to get rid of these homes however they can to clear their books. (more…)
The government is always looking for ways to cut spending now that it is completely out of control. While most people blame the president, it is not only his fault. He has pumped a lot of money into the economy to save jobs and prevent Americans from having to use cash advances to pay their bills, but that was out of necessity as the economy has been slow to recover. (more…)
Win the lottery. Just kidding! We all want to retire without having to worry about running out of money. With social security unreliable at best and inflation running rampant, many of us don’t even know how much to save in order to retire well. In this post you’ll find some ways to make sure you have enough money as you enter your golden years.
Three-Steps to Better Retirement Savings Program
Saving money in a retirement savings program, whether you are getting it through work or have opened it yourself, is a great thing to do. You do not want to have to keep working after retirement just because you don’t have enough money to cover your expenses. You’ll want to be aware of what type you plan is and how your retirement plan works. Here are three steps to make sure you are getting the most from your plan.
1. Set a goal. This is a hard step when you are planning for your retirement because of the many factors you have to think about; you can, however, go online and use one of the many retirement calculators that are available to get a general estimate of what you will need.
2. Decide how much you need to save. You can break this up by how much to save per year, and then down to the month or even as far down as how much per week. Figure that into your monthly budget and treat it like a bill so that you have to save it and not use it for something else.
3. Choose your investments. This is an important and complicated step. You will need to do research and maybe even get some advice from a financial adviser. Once these three steps are complete you can sit back and know that you will be prepared for your retirement future.
Why You Need a Roth IRA — Now!
A Roth IRA is a great way to save for retirement. This account, if you follow the rules and put your money away properly, is totally tax-free. As of 2008 you are allowed to dump $5,000 annually into a Roth IRA account. As long as you wait until retirement to take the money out of the account then you will have not have to give the IRS one cent of this money.
There are a few rules associated with Roth IRA accounts. The first is that you must earn the income you contribute to it. This money cannot be a gift or left over money from another loan. It must be something you received through employment and you cannot save more then you made. Additionally, you also must stop contributing if you make more then $95,000 is you are single or $150,000 if you are married. As long as you remain under that limit you can put away up to $5,000 per year.
Think about it, if you start contributing to your Roth IRA at the age of twenty-five, while you’re still making below the income cap, then you can continue adding money and end up with nice chunk of change by the time you retire!
Understanding 403b Retirement Plans
One type of retirement plan to look at is the 403b retirement plan. Not all people are eligible for this plan, only those of certain professions including doctors, teachers, researchers, librarians, school administrators, nurses, professors, school personnel and ministers.
These are all individuals who are employees of tax-free organizations and if you are an employee of a tax free organization, it is imperative to looker deeper into this plan if you have not already. This retirement plan is a tax postponed plan and is a government-encouraged program. This means there are usually conditions to enroll contrary to most retirement plans, so you will need to speak with your employer for more information.
To have a savings plan like this you must agree to invest at least two hundred dollars a year. This really isn’t that much, especially if you are looking to actually gain savings for retirement. The maximum amount you can save per year is 20% of your total income. You will not be eligible for a plan like this if you are a student, in another tax deferred savings plan or are working less than twenty hours a week.
It is imperative that you follow all of the rules of this plan. If you do not, your entire company could be held responsible for your actions. Once enrolled you will set aside money on a pre-tax foundation that is deducted from your pay by your employer. The money is then put into a financial institution that your employer chooses. The 403b plan is similar to the 401(k) in that the money accumulates tax-deferred until you retire, but if you choose to withdraw it will be taxed like regular income.
This can be an extremely beneficial plan if you use it wisely and understand what you need to do to maximize your savings for retirement, contact your financial advisor or employer for more information
The many faces of the automobile retail industry represent the many different tastes of the buying public. There are high-end brands such as Maserati and Mercedes Benz that make smaller numbers of vehicles that sell for high amounts of money. The people who can afford such vehicles certainly never need payday loans are very few and have the extra money they need to buy such fancy vehicles. (more…)
As most of its citizens are aware, the United States is in serious debt and there is a possibility that we will hit the debt ceiling and cause ourselves to go into bankruptcy. Lawmakers are working on a solution, but Democrats and Republicans are always on different pages when it comes to these things. The general public and overseas investors are concerned that the credit rating of the country will be lowered, causing many to worry about the money that is owed to them already and whether they should extend more credit to us. The companies in the United States are doing well, so it is hard to understand why the government is in such bad shape. The spending is out of control and the money that Obama has been pumping into the economy is not really helping like he had hoped. We continue to struggle and look for ways to get by in the free market. Consumers are still not spending money because there has been little increase in current salaries and many are saving rather than spending which is good for them but not the economy. It needs spending to survive. The spending creates jobs and keeps people employed, which is very important for many reasons. (more…)
How does one go about choosing which investments may work for them? There are several options you can choose to invest your hard earned money in. There are stock options through online stock organizations and some employers also offer stock options. According to CNN Money, stocks serve as one of the ways to save money for the long term. There are many stocks to choose from. The stock you invest in depends greatly on how much money you wish to spend and what type of company you wish to invest in. When looking to invest in stocks, always look for the one that is best for you.
Another type of investment is to purchase bonds. Bonds can vary from quick maturity or to maturing over a matter of several years. Purchasing bonds can help with saving for future goals such as college tuition. Bonds tend to go up as interest rates go down. Most of the bonds that are bought are considered Treasury Bonds. These bonds tend to be more secure and will mature as time goes on.
These are just two types of investments you can make with your newly acquired cash advance. The type of investment is up to you. In any way you choose to make your investment is important to you. Having a list of items in front of you to choose and knowing how much of your money you wish to invest will help this process move smoothly.
Convertible Bonds — A Good Investment
A convertible bond is one that can be converted into a prearranged amount of the company’s equity at certain periods during its life; generally at the bondholder’s discretion. Convertible bonds are also referred to as “CVs”.
Most companies choose to make their bonds convertible to avoid any negative attention. When an active company chooses to start publicly selling their stock investors may see it as a drop in the value of the company. If a company offers convertible bonds to their investors and to the public, anyone who purchases their convertible bonds can turn the bonds into a share in the company’s equity at designated times during the life of the company. This option is a very compelling argument for investors to buy stock in a particular company, whether they are a full-time investor or just a casual investor who trades from home.
Most investors choose to purchase stocks and bonds based on the risk that it possesses. A convertible bond is a safe way to buy equity in a company, especially one that is just starting up. Convertible bonds are a great way to save for the future.
Anyone who has been in financial straits has thought about the obvious solution: taking a second job. Other than decreasing your expenses, increasing your income is a sure way to help balance your budget. However, you have to take into account that a second job can come with hidden costs and may not be as profitable as you initially think.
Second jobs are wonderful ways to increase savings or pay off debts. Every dime you make is going to add to your bottom-line during the year. At the end of the year, the additional income may be sufficient to place you in a new tax bracket. If you did not withhold enough money or miscalculated the amount of taxes you would owe with a second job, the amount of taxes you owe may come as a complete surprise. Take the tax repercussions of adding a second job into your decision to increase your income. The new tax bracket won’t just affect your second job; it will affect your first job’s income as well.
Second jobs that require additional travel time and daycare costs will also increase your expenses. Uncle Sam won’t count your travel time or gas costs as a deduction for your job so you may end up adding expenses along with fitting yourself into a new tax bracket. Be very careful what jobs you take when you are thinking of adding a second job and what all the expenses are that are associated with that new job. The key here is to make money, not owe it.
Turn a Hobby Into a Second Job
Keep your daytime job, but let your passion guide you when you are trying to extend your moneymaking ability. The best place to find your passion is to look at your hobbies to see if they can make money for you. You should be able to bring in some extra money but exactly how much depends on your connections and quality of your work. Keep the other sources of credit handy in case it takes time to build up a client list.
The real estate market has been struggling, but the amount of empty homes has been lowered due to bank fire sales that have occurred. They are looking to get these liabilities off of their books and are often very motivated to sell the homes at a real discount. While there are many that are able to afford these reduced-priced homes, that is not always the case, especially those whose current salaries remain unchanged over the past couple of years and many still do sit vacant. This has not been a positive thing for many involved as those who have had to leave because of failure to pay have been bitter and now have had their credit destroyed in the process. Not all foreclosures are the fault of the bank; many had decided to buy homes they simply could not afford, hoping that the value of that home would skyrocket. Unfortunately for them, the opposite happened and they could no longer afford their payments as they may have had adjustable rate mortgages, which are not good for anyone. When your payment is $900 a month, sure, it’s not so bad, but when it shoots up to $2700, that could be a huge problem. This was the case for many and the end result was foreclosure. (more…)
The amount of unemployment in this country is very high considering the fact that we are out of recession and are on our way to recovery. There are many signs that have pointed to the fact that things are getting better, but the fact remains that the unemployment numbers are not moving in the right direction. With current salaries holding steady, they should be getting less on a steady basis every month, but they seem to be hovering around a certain amount and there is no sign of that changing anytime in the near future. Every month when these numbers do get released we hold our breaths and hope for the best, but the numbers just stay the same, with barely any movement. The numbers are currently hovering around the 410,000 to 430,000 mark, which little fluctuation overall.. Hopefully, this trend will subside and we will be back on track in no time, with unemployment claims dropping every month, consistently. This month they increased, but by a small amount from 408,000 to 418,000. That is no sign of a recovery and the numbers seem very large and increasingly high for the year, which is simply not a positive thing and we must find ways to add more jobs to combat these numbers. (more…)