The 2021 Recession: How To Prepare For The Next Market Crash

Who’s Too Young For Money Management?

Throughout our early adult years, we learn the concept of money management, but many of us learn the hard way. By the time the high school graduate goes off to college, chances are that they have had absolutely no training or education in managing their finances. This is why I believe that monetary training should begin at the earliest age possible.

Three Things You Need to Know In Order to Understand Bonds

When you start considering various financial strategies, you may consider buying bonds. But in order to understand the different types of bonds out there, there are three very important points that you should think about before you make your decision.

Are You Making These Critical Errors in Your Personal Finance Planning?

If you want to succeed in your personal finance planning, there are a few key errors you have to avoid. After many years of experience in building wealth, managing personal finances and in coaching others, I’ve found that there are a few…

Five Ingredients That Make or Break Your Personal Finance Planning

The success of your personal finance planning will depend upon a few key things, which we’ll cover briefly in this article. I’ve gathered these tips from real life experiences while working with clients who had a goal to achieve financial freedom by managing money better. Once you get these…

Rainy Day Fund

Saving for retirement, like dieting is one of those things easily put off and easily derailed. You finally got your stuff together and signed up for your 401k at work or you opened an IRA (individual retirement account) and just started to make contributions, feeling good about yourself when your cars transmission goes out. Now you have to go to the trouble of stopping or suspending the 401k or IRA contributions to have the money to make the necessary car repairs.

PPI Offers Many Benefits

There has been much debate over Payment Protection Insurance (PPI) after it was found that the product was missold to hundreds of thousands of people in the UK. Whilst the product can be a great financial protector for those buying it in the right way, missold PPI cases have caused a huge amount of negativity.

Thinking of Living Abroad? Here Are Some Things to Consider

We all dream of living abroad at some point in our lives, and it’s possible to achieve it as long as you plan carefully and consider what you need to do to make sure you and your family are secure. Matters such as life assurance and pensions need to be planned for and arranged, so it might help to get some expert help.

Personal Finance Planning and the Power of Accountability

Personal finance planning success requires a lot of hard work, and there’s no reason why you should do it alone. When you think about it, even if you can accomplish some great things on your own, how much more could you accomplish if…

What Is an RRSP and 5 Things You Need to Understand About Them

What is an RRSP and 5 things you need to understand to fully take advantage of this Canadian Savings Vehicle. RRSP’s have come a long way since their introduction in 1957, and they have increasingly become more and more popular among Canadians. Usually in the months of January and February of each year, the airwaves are jammed full of RRSP ads and commercials.

Offshore Savings – Banking for the Rich?

A great myth exists that offshore banking is in some way illegal or unethical and the preserve of the uber-rich. This is simply not the case. But how is it done? Where is the risk? What’s the return?

How Are You Preparing For The Coming Inflation?

In 2006, Robert Wiedemer, his brother David, and co-author Cindy Spitzer, wrote a book titled “America’s Bubble Economy” in which they predicted a series of “bubbles” and “busts” that would negatively affect the economy of the United States. In particular they addressed the Real Estate and Stock Market bubbles. Their predictions proved to be accurate.

Pension Annuity Underwriting

Should we have streamlined pension annuity underwriting? Recent data from the ABI shows that about 19% of pension annuity contracts sold in 2011 were enhanced annuities, which is up from around 13.6% in 2010 and about 9.3% in 2009. Industry estimates of the proportion of individuals that could actually qualify for enhanced annuities range from 40% to about 70%. Even looking at the most conservative of these percentages, the current proportion of annuitants having enhanced annuities is falling short.

Enhanced Annuity – Higher Annuity Income

An important option if you’ve to retire through ill health is an enhanced annuity. An enhanced annuity could pay you up to 40% more retirement income, but you’ll have to shop around to get the best deal, according to Partnership. The firm is supporting a recent report published by the Pension Policy Institute (PPI) on retirement income and assets, looking at the implications of the government changing the state pension age.

Delays Hit Best Annuity Rates

Pension delays are hurting the chances of people benefitting from the best annuity rates. For those people coming up to their retirement, the delays in sorting out pension fund transfers to new annuity providers when better annuity rates are available can cause an expensive problem. Most pension savers convert their pension fund into a regular income by buying an annuity, and annuity rates change regularly. Indeed, between July and November 2011 they varied by as much as 8%, cutting the retirement income from a 100,000 pound pension fund from about 6,000 pounds a year to just around 5,500 pounds.

Many Could Get Higher Pension Annuity Rates

According to experts, millions of people in the UK could benefit from higher annuity rates with an enhanced annuity. They could get significantly higher retirement incomes, if only they knew. These people are missing out on enhanced ­annuity rates which could mean the difference between a financially comfortable retirement or one teetering on poverty. Recent data shows that around 70% of those approaching their retirement would be entitled to higher incomes but last year only 2% actually applied for them. More minor medical conditions or lifestyle issues such as smoking are sufficient for annuity providers to pay out more.

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