Retirement may be a long way off for you – or it might be right around the corner. No matter how near or far it is, you’ve absolutely got to start saving for it now. However, saving for retirement isn’t what it used to be with the increase in cost of living and the instability of social security. You have to invest for your retirement, as opposed to saving for it!
Let’s start by taking a look at the retirement plan offered by your company. Once upon a time, these plans were quite sound. However, after the Enron upset and all that followed, people aren’t as secure in their company retirement plans anymore. If you choose not to invest in your company’s retirement plan, you do have other options.
First, you can invest in stocks, bonds, mutual funds, certificates of deposit, and money market accounts. You do not have to state to anybody that the returns on these investments are to be used for retirement. Just simply let your money grow overtime, and when certain investments reach their maturity, reinvest them and continue to let your money grow.
You can also open an Individual Retirement Account (IRA). IRA’s are quite popular because the money is not taxed until you withdraw the funds. You may also be able to deduct your IRA contributions from the taxes that you owe. An IRA can be opened at most banks. A ROTH IRA is a newer type of retirement account. With a Roth, you pay taxes on the money that you are investing in your account, but when you cash out, no federal taxes are owed. Roth IRA’s can also be opened at a financial institution.
Another popular type of retirement account is the 401(k). 401(k’s) are typically offered through employers, but you may be able to open a 401(k) on your own. You should speak with a financial planner or accountant to help you with this. The Keogh plan is another type of IRA that is suitable for self employed people. Self-employed small business owners may also be interested in Simplified Employee Pension Plans (SEP). This is another type of Keogh plan that people typically find easier to administer than a regular Keogh plan.
Whichever retirement investment you choose, just make sure you choose one! Again, do not depend on social security, company retirement plans, or even an inheritance that may or may not come through! Take care of your financial future by investing in it today.
Come back next time for more tips. Tricks and techniques to assist you in Living the Champagne Life on a Beer Budget. Remember we're all in this together and I'm pulling for you.
Mahalo.
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Monday, February 21, 2011
Tuesday, February 1, 2011
Eating Well While Saving Money
Thinking of cutting down your expenses on food? Then you should read the following tips. They will surely help you on reducing your food expenses. They are by no means comprehensive but they will be very useful.
For coffee drinkers
It is a good idea to re-use the grounded coffee once. Using coffee grounds two times will not greatly affect the taste of the coffee. It is highly encouraged to do this using a filter that is permanent and avoid the paper variety. Keep the grounds refrigerated until using it the following day.
For bread lovers
Grocery stores sell bread that was made the day before at a much lower price. There is nothing wrong with eating bread that was made the day before since it still is good to eat. If you have a lot of space in your refrigerator, store a lot for bigger savings. If you will eat the bread, you can defrost it using your microwave oven. Re-heat it every 30 seconds to prevent the edges of the bread from getting too hard.
When buying from the grocery
Before going to the grocery, you should have already made a list of all the things that you really need. Prioritize basic goods and avoid buying things that you do not really need. Observe the prices indicated on the displays. Remember, branded products cost considerably more than store brands. It is also a good idea to keep the receipt of your previous trip to the grocery and make it as a basis for your purchases on your next trip. To have higher savings, buy more of the product. You can always store it in your refrigerator or in the house to minimize your trips to the grocery store.
When eating outside
If you are going to eat in a pricey restaurant, the best time for you to go there would be during lunch. Food during lunch usually costs less and this will be to your advantage. When staying at the hotel on your trips, it is a good idea to check if they also include breakfast in your total room charge. You should also find out where the locals eat. Chances are, they will eat where the food is great and the price is even better. When going around, carry with you some snacks. A chocolate bar, chips, and cookies will go a long way while strolling around.
Eating cheaply does not necessarily mean eating bad food. Look around and you will be surprised at the options you can choose from. Take time and consider your choices so that you will not only eat a lot but save some money also.
Come back next time for more tips. Tricks and techniques to assist you in Living the
Champagne Life on a Beer Budget. Remember we're all in this together and I'm pulling for
you.
Mahalo.
******************************************************************
Must Have Finance Tools and Resources
Want to save money while learning how to save money? Well Order the Budget Mega Pack and
receive two valuable bonus ebooks for your collection. Hey, you earned it, why not keep it?
For more info and to Order Today so you can save On These Valuable Resources
href="http://www.renspubhouse.netii.net/finance.html">http://www.renspubhouse.netii.net/fina
nce.html
******************************************************************
For coffee drinkers
It is a good idea to re-use the grounded coffee once. Using coffee grounds two times will not greatly affect the taste of the coffee. It is highly encouraged to do this using a filter that is permanent and avoid the paper variety. Keep the grounds refrigerated until using it the following day.
For bread lovers
Grocery stores sell bread that was made the day before at a much lower price. There is nothing wrong with eating bread that was made the day before since it still is good to eat. If you have a lot of space in your refrigerator, store a lot for bigger savings. If you will eat the bread, you can defrost it using your microwave oven. Re-heat it every 30 seconds to prevent the edges of the bread from getting too hard.
When buying from the grocery
Before going to the grocery, you should have already made a list of all the things that you really need. Prioritize basic goods and avoid buying things that you do not really need. Observe the prices indicated on the displays. Remember, branded products cost considerably more than store brands. It is also a good idea to keep the receipt of your previous trip to the grocery and make it as a basis for your purchases on your next trip. To have higher savings, buy more of the product. You can always store it in your refrigerator or in the house to minimize your trips to the grocery store.
When eating outside
If you are going to eat in a pricey restaurant, the best time for you to go there would be during lunch. Food during lunch usually costs less and this will be to your advantage. When staying at the hotel on your trips, it is a good idea to check if they also include breakfast in your total room charge. You should also find out where the locals eat. Chances are, they will eat where the food is great and the price is even better. When going around, carry with you some snacks. A chocolate bar, chips, and cookies will go a long way while strolling around.
Eating cheaply does not necessarily mean eating bad food. Look around and you will be surprised at the options you can choose from. Take time and consider your choices so that you will not only eat a lot but save some money also.
Come back next time for more tips. Tricks and techniques to assist you in Living the
Champagne Life on a Beer Budget. Remember we're all in this together and I'm pulling for
you.
Mahalo.
******************************************************************
Must Have Finance Tools and Resources
Want to save money while learning how to save money? Well Order the Budget Mega Pack and
receive two valuable bonus ebooks for your collection. Hey, you earned it, why not keep it?
For more info and to Order Today so you can save On These Valuable Resources
href="http://www.renspubhouse.netii.net/finance.html">http://www.renspubhouse.netii.net/fina
nce.html
******************************************************************
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