Saving for Retirement

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Unsecured Finance
Are you afraid of taking a loan because of the risk involved in loosing collateral or because of the long and hectic procedures? If this is the only reason that you don't want to go for a loan then the solution lies with unsecured finance. With unsecured finances you need not put anything as collateral. As there is no collateral implicated hence no time is wasted in valuation of the collateral, as... Read personal finance article



Retirement and Disability Pay
Concurrent Retirement and Disability Pay (CRDP) is a phased-in reinstatement of the retired pay deducted from military retiree's accounts due to their receiving of department of veterans Affairs (DVA) compensation, showing on their Retiree Account Statements as the "VA waiver". The phased-in restoration started January 1, 2004 with the initial payments dated February 2, 1004.

A person i... Read personal finance article



Saving for Retirement
You need to think about your personal goals and needs, before you make any decisions regarding your retirement savings.

How do you want to spend your retirement years? Do you want to travel, buy a new home, and move into a retirement community? Do you want to spend your time with family or dabble with some long lost hobbies? Deciding how you want to live is the first and most important step before deciding how much retirement savings you will need to live comfortably.

Studies indicate that you will need 80-100% of your pre-retirement income to maintain your current lifestyle. In theory, certain expenses you have now may be eliminated or reduced, but it depends again on your personal goals for the future. You may own your home outright, but if you want to travel more expenses will be incurred. The better prepared you are the more stress free your retirement will be. Your employer or the company, in which you have invested your retirement saving with, will have calculation worksheets that will help you better understand your goals and needs.

Steps towards your retirement savings goals:

Income needed during your retirement
Social Security Income
Annual retirement income
Future retirement income
Retirement goals
Current investment portfolio
Percentage of your annual income your can afford to save for your retirement, including any employer matches.

Retirement savings goals and income needs vary depending on what stage of your life you are in when you decide to start saving. Lifestages, as they are called, are the periods during your retirement savings plan in which you need to re-evaluate your current investments to see if your needs have changed and what if any action may need to be taken.

Any retirement savings plan has a certain amount of risk associated with it, therefore you need to know what kind of investor you are going to be.

There are five categories from low to high risk investing:

Stable: You want guaranteed interest from your savings, such as money market accounts.
Conservative: You will invest in Government Bonds, Securities, and Mortgages.
Moderate: You feel comfortable investing in large Company Stocks and Real Estate.
Aggressive: Small company stocks and start-ups.
Dynamic: International companies and stocks.

There are different contribution options available that help to reduce the risk associated with any kind of investment. It is called Diversification. Diversification retirement savings options allow you to spread out your investments. If your more aggressive investment options were to lose money, the lower risk options would help minimize the loss.

You allocate retirement savings fund among different investment options. This makes your savings more diverse and you make the decision on the level of risk you are comfortable with. Again the company you are working with will have the information you need to help you make the right decision.

A quick note: Company services are a very important part of your retirement savings decision. Look for:

Rollover policies and services.
Retirement Savings Plan Statements and Reports.
Accessibility to account information.
Education Services that explain and answer all your questions and help you in time of need.

With information in hand, you will be confident enough to feel secure regarding your retirement savings plan.

Written by Tina Rideout: For more information about Retirement Planning visit Retirement Planning

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Finances in Your Marriage

My husband and I have made amazing strides in our finances since getting married two years ago. We owe a lot of our financial accomplishments to "Financial Dating TM", where we consistently get together to discuss and make decisions about our finances. This has been so wildly successful for us that I have trademarked this term and created an entire system for helping other couples create financial success.

I'd like to share some conversation tips with you that have been helpful for my husband and me during our money discussions. I think you'll find them helpful, too. You may already be familiar with some of these tips, but knowing about them and implementing them are two different things. And using them when you're upset is an even greater achievement! Pick one that you'll try to use consistently. Once you've got that one down, move on to the next one until you're using all of them regularly.

1. Listen Effectively

Be the first to listen. When you're upset or angry, what you typically want most is for your partner to listen to your side of the story. What your partner wants most is for you to listen to him. It's easy to get stuck butting heads, with each partner trying to force the other to listen. Challenge yourself to be the person who listens first. Once you've listened, your partner will feel better understood and will be more willing to hear your perspective.

Make a commitment not to interrupt. If your partner interrupts gently point it out, but don't let the conversation digress into blaming and arguing. Just uphold your own personal commitment.

Ask your partner if she is willing to listen. Often when we're upset all we want to do is vent our uncomfortable feelings as quickly as possible. Instead, ask your partner if she's willing listen to your concerns. Remember it's okay for your partner to say no. Ask if there's another time she would prefer to talk. If you are receptive to listening, you might want to ask your partner if she would like to share what's going on with her.

2. Share Thoughtfully

Give your partner a "heads up" and ask for what you need. Give your partner an idea about what you'd like to share and let him know how you would like him to respond. Don't assume that he'll know how you want him to respond. For example, "I would like you to listen without interrupting. Just be supportive, and please don't offer any advice."

Allow equal talking time. Be aware if one person is doing most of the talking and strive for balance. Let your partner know when you're finished talking.

After your partner shares, repeat what you heard your partner say. This can be very powerful and connecting. You don't have to agree with what your partner said. Just repeat what you hear, making certain that you correctly understood what your partner was saying. Remember, everyone has a valid perspective. When you are done, ask your partner if you heard him correctly. Give your partner the opportunity to respond and clarify.

Offer positive feedback. Find something positive about your partner's response and share it with her.

3. Choose Consciously

Make choices and decisions. After both of you have had the opportunity to share, work together to brainstorm creative solutions.




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Saving for Retirement
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