Posts Tagged ‘how much money’

How Do I Plan For Retirement

Sunday, March 15th, 2009

Every working man and woman is entitled to a retirement that is secure and comfortable. Saving and planning for retirement is not necessarily an easy process however because we are living longer and healthier lives in general, which means we need more money to survive retirement than ever before. If you want to learn how to plan for a healthy, comfortable and secure retirement then you need to begin planning wisely using a blueprint similar to the one outlined below:

What do you plan to do in your retirement?

– Save early and often. –

The sooner that you begin to save money, the longer the amount of time you will have for those funds to grow. By putting compounding to use, you can make gains every year that will add on to the gains of the prior year, and so on and so forth. This can really add up, fueling the growth of your retirement fund.

– Set realistic and attainable goals. –

Do not use rules of thumb to project your retirement expenses, because they are based upon your needs and not the needs of others before you. What type of lifestyle do you want to live when you retire? Figure out the expenses accordingly and use these expenses to formulate how much money is needed to supplement social security and other income sources during retirement.

– Save using a 401(k). –

This is one of the best and one of the easiest ways that you can save money. Making contributions towards a 401(k) plan can provide you with immediate tax deductions, matched contributions from your employer, and even a tax deferment on the growth that your retirement savings accrues. This is absolutely excellent advice for anyone who ever wondered how to plan for retirement.

– Utilize IRAs for retirement savings with tax advantages. –

IRAs provide you with large tax breaks much in the same way that 401(k)s can. They offer two different types of tax breaks, one which provides growth that is tax deferred, and one that provides tax free growth but doesn’t allow for deductible contributions the way that traditional IRAs can. Roth IRAs do not allow deductible contributions, which mean withdrawals do not require you to owe any taxes in the way that traditional IRAs do.

– Make wise asset allocation moves. –

This means that your portfolio should be divided between stocks and bonds in a wise manner so that you can make a strong and powerful impact on any of the long term investment returns that you have. Stocks are the best option for stable and long term methods of growth, while bonds work well both in the short term and long term. Still, you should not rely too heavily on bonds when planning for retirement. If you want to stretch your nest egg’s life out to the best of its capabilities, you absolutely must make tax efficient withdrawals.

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Originally posted 2020-11-14 05:57:29. Republished by Old Post Promoter

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How Much Money Do You Really Spend?

Sunday, February 8th, 2009

Overspending is an enormous problem for Americans right now and the sad truth is, many of us do not even know we are doing it. If you are finding it hard to make ends meet at the end of the month, or you are desperately waiting for that next paycheck to arrive, you may need to take a hard look at your financial situation, your budget and how much you spend every month.

Track how much money you spend on small things.

We typically consider our rent or mortgage payments, car loans and utilities as the only items that need to be budgeted, but there are many small items that can crop up and eat away at your bank balance. These are typically unnecessary expenses, and over time, enough of them can quickly add up. Let’s take a look at how to determine how much you spend and how you can get your expenditures in line with what you make.

It’s a great idea to keep a little log book and write down everything you buy for the period of one month. Everything, no matter how small, should be noted down in your log. At the end of the month, total everything up and see just how much money you have going out the door. This is probably the easiest way to figure out what needs to be cut, since you’ll have everything right in front of you. Here are some of the most common culprits.

1. Eating Out.

Americans spend thousands, if not tens of thousands, eating out and these expenses can quickly add up. You can save quite a lot of money simply by cutting out one meal out a week, and even more if you really get serious about cutting back. Once you’ve logged how much you spend on food, you may be surprised at how much of your paycheck is missing.

2. Recurring Subscriptions.

This is a problem for many online. You sign up for something, forget to ask for a refund before the trial is over, and before you know it, you’ve got several “memberships” or recurring fees that you don’t even know about, all being taken right out of your account every month. These will add up fast, and can do a lot of damage if they are not caught in time.

3. Superfluous Items.

Even though these items are typically small, they take up a big chunk of your budget. All too often we don’t think about the little, “it’s only a dollar,” items that we see at the store. While each one may be inexpensive, when you add them all up, it can be shocking to see just how much you are spending. The log book of your monthly expenses really comes in handy to see which of these items can be cut from your budget.

By taking the time to see how much money you actually do spend, you can stop overspending before it gets out of control and starts to eat away at your paycheck.

Photo Credits: 1

Originally posted 2020-10-10 05:16:41. Republished by Old Post Promoter

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Are Your Gadgets Sucking Your Wallet Dry?

Friday, February 6th, 2009

Your appliances are adding to your energy bill.

We live in a digital age and the vast majority of us rely heavily on numerous technological devices to get us through our days. What we may not realize however is just how much these gadgets cost to run. Companies throughout the United States are finding out that they are wasting millions if not billions of dollars overnight in their companies and consumers face the same problem, even if the cost isn’t quite that high.

The energy drain caused by our gadgets is quite significant and can greatly affect a monthly power bill. Here are some tips to help you reduce your power bills, and keep your gadgets from sucking the life out of your wallet.

1. Turn off your computer at night.

Even though it is convenient to let the computer go into sleep mode, it is still using power, even if it doesn’t look like it. Simply turning off your computer can result in big energy savings, since it is one of the biggest culprits when it comes to energy drain.

2. Turn off your monitor.

In addition to shutting down your computer, it is also very important to turn off your monitor. Once again, we’re dealing with a sleeping issue, but in reality, that monitor is pulling quite a bit of juice throughout the night. Many consider monitors, especially CRT’s to be one of the biggest energy drainers in existence and they can greatly impact how much you spend on your power bill every month.

3. Unplug unnecessary items.

Just because a gadget is off doesn’t mean that it is not using power. It is best to unplug any unnecessary items throughout the night, especially if you have several throughout the house. Take a quick inventory of your home and see just how many different things you have plugged in. The amount may surprise you. Try unplugging a few at first and see just how much money you can save. Chances are you’ll be inspired to unplug the rest.

4. Consider rechargeable batteries.

They may not be on your power bill each month, but many of our devices rely on batteries and it doesn’t take long for the costs to mount up. You may want to consider purchasing a battery recharger to help you lower your reliance on new batteries. The initial cost can easily be paid off in a short time with the money you save on your batteries. For Wii owners, the rechargeable remote stations are a big money saver!

5. Less is more.

If you have a copier, fax machine and printer all plugged in, you’re increasing the amount of energy you’re using without doing a thing. Consider getting an all in one machine that will be more efficient. In addition to saving money on your power bill, you’ll also be able to save some space.

We need our gadgets, and as a result, there is a price to pay. How high that price is will depend on how well you implement energy saving techniques throughout your home.

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Originally posted 2020-10-08 05:10:03. Republished by Old Post Promoter

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Free Investment Research Can Make Your Money Profitable

Friday, December 19th, 2008

Research Investments.

Do you still recall learning how to conduct research in high school and college? If you are tired of researching subjects for school, it may be difficult for you to come up with a good reason to continue conducting research as an adult, but it is unfortunately a little necessary, especially when it comes to investing and turning a profit from your money. Learning how to conduct research in high school and college may not have seemed important back then, but it really does apply to every day life, especially when it comes to conducting free investment research for the sake of turning your money into even more profits. Learning how to conduct free investment research online and through other means can be extremely helpful and can be a great skill for you to have. In other words, the research you learned how to conduct in school will benefit you for when you start doing investment research as an adult in order to grow your money and make it work for you.

Whether they would like to admit it or not, many people are lazy when it comes to conducting research of any kind, even free investment research. This is what leads many people to cheat, trying to bypass the research and simply rely on guesswork to decide which way to go when it comes to investing. Just like cheating on tests was a bad way to go while you were in school, cheating when it comes to obtaining free investment research is not a wise way to go. Instead, you need to be willing to put some serious time and effort into obtaining the proper free investment research if you really want to get the most out of your investments.

The greatest thing about free investment research is that there is such a wide variety of different professionals out there that are available to help you conduct the research that you need. They can help you no matter how much money you want to invest, as long as you like stocks and want to make smart, educated and informed decisions about your investments. If you are serious about getting the most out of your investment portfolio, you need to have a powerful support team and you need to be willing to conduct some free investment research in order to figure out which stocks and other investments will best suit you and which are worth skipping all together. There are plenty of professionals out there that will help you conduct the free investment research that you need in order to make smart decisions about your investing. The more educated your decisions are, the more successful you will be at getting the most out of your money.

Free investment research is vital as a part of your investment process, so do not make any guesswork based decisions, but rather research your investment options and act based on solid information.

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