10 Habits you’ll need to become rich

Financial Planning For A Better Tomorrow

People who strive hard will certainly receive rewards. Without a doubt, everyone can reach their goals if they are determined, responsible, and intelligent. If you really want to reach your goal to achieve success, then you should know how to deal with the challenges in life.

The Necessity For A Financial Planner In Financial Planning

In this day and age, it is important that men and women all over the world should know how to manage their finances. We cannot afford to spend all the time especially with the current state of the economy. Sadly, not everyone is well equipped with the skills and knowledge to manage their finances on their own. Luckily, you can hire a financial planner to assist your with your financial needs.

Will Your Partner Live in the Street When You Die?

Have you ever thought about how your partner will live after you leave this world? With a “second-to-die” pension, a pension fund does not have to last for only as long as you live. Keep an eye not only on your future, but also on the future of the person you love.

The Rules Of Personal Finance

Personal finance refers to the financial decisions which an individual or a family unit is required to make to obtain, budget, save, and spend monetary resources over time, taking into account various financial risks and future life events. It involves the study of such areas as income generation, expenditure pattern, savings, financial planning, budgeting, investment, personal motivation, etc. In this article, we shall examine in summary the fundamental rules of Personal Finance so that they can become like sign posts to us as we embark on our journey to financial freedom.

Trimming Your Expenses After Divorce

Divorce is a life altering event. One of the significant ways your life may be altered is a significant decrease in income. If you are facing a drop in income you must make changes in your lifestyle. Things that were previously considered necessities will need to be eliminated from your budget. Failing to do so will only increase the pain you feel from your divorce and may affect your standard of living for years to come.

When Do You Need or Not Need Life Insurance?

The whole idea behind life insurance is to have obligations covered off in the event of your death. The old adage about death and taxes is the reason life insurance is considered by many people. When death and taxes come together, life insurance is one potential cure for the combined effects. What is the premise behind life insurance? What the insurance company hopes to do is to take the money you give them as a premium, invest it over a long period of time, and then repay some of it back to you on death, while keeping a portion of it as a return. The easier it is for them to do this, the cheaper your premium will be.

Do You Know How to Play the Numbers Game?

When you look at the figures, how much do you really understand them? Do the numbers really tell the whole story? Try to find out the full story before you come to any conclusions.

Best Ways to Make a Long Term Investment Online

Seeing your investments vanish in the air will probably be the most painful thing you’ll experience in running a business. When you believe that putting your money into something will give you back a tenfold, you will of course hope for the best. A good research about what you’re getting into is the best way to avoid such an unfortunate incident.

How to “Understand” 401k Contribution Limits (and AVOID Losing What You Invested)

401k Contribution limits are something that confuses and baffles many. While the 401k’s purpose is to establish retirement funds, there are certain limits that the government imposes on how much can be contributed each year. These limits are the same for every citizen, no matter what income is made in a year.

Is Living in Your House Eating You Alive?

How much money should you be spending on living in your home? Is your current income enough to support it? You may think that you know the right answers to these questions, but if you step back a bit and think a little more deeply you may find that the true picture of your situation is somewhat different.

How Does My Defined Benefit Pension Plan Work?

The Defined Benefit Plan used to be the standard for pension plans. Over the last 10 years, many companies have been phasing out these plans in favour of Defined Contribution Plans. Some companies may give you the option of switching between them as well, or converting from one type to another. This article is focused on the Defined Benefit Plan. A defined benefit plan is a pension plan where the future payout in retirement is defined by a set formula when you join the company. It is a calculation that usually includes your highest average salary, time working in the company, and how much money was contributed by you and the employer. A defined contribution plan is where the money you pay into the plan is defined: the amount contributed either by you or on your behalf by the company. It is a set dollar amount based on your salary in the year that you are working. You can think of it as the company (and sometimes you and the company) contributing to your pension account.

The Impending Retirement Crisis in America

What used to be viewed as a natural right of passage, retirement can no longer be regarded as a sure thing and, in fact, retirement has become elusive for many people approaching retirement age due to circumstances both within and out their control. This article discusses the new retirement reality.

Why Choose a Financial Planner?

Establishing a solid financial plan now will help you map out your future, account for unexpected events, and make educated financial decisions as situations arise. Whether you are planning for college, a wedding, the purchase of property, the addition of a new family member or retirement, a plan will help guide you along the path. A plan will help you navigate the twists and turns in the road, and overcome any obstacles encountered along the way. We can’t predict the future, but we can do our best to be prepared for whatever the future may hold.

A Financial Advisor Can Secure Your Dreams

Ever since kindergarten, we have already been taught to dream big. We would take out our crayons and draw our future houses with a family, a car, and a pet dog named Rosie. Sometimes, we would even play dress up in the international costume of the places we want to visit in the future.

What Can I Do With My Defined Contribution Pension Plan?

A defined contribution plan is where the money you pay into the plan is defined: the amount contributed either by you or on your behalf by the company. It is a set dollar amount based on your salary in the year that you are working. You can think of it as the company (and sometimes you and the company) contributing to your pension account. This is similar to a Registered Retirement Savings Plan (RRSP) account, except that it is locked in. Locked in means that the money is in your name, you are entitled to the money, but cannot withdraw it unless there is a very exceptional circumstance. (i.e. this is the only money I have and I need to pay my bills).

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