All Retirees Are Authorities

How To Turn Your Blog Into Money

admin — Fri, 21 Dec 2007 00:39:52 +0000

I'm evaluating a multi-media course on blogging from the folks at Simpleology. For a while, they're letting you snag it for free if you post about it on your blog.

It covers:

The best blogging techniques.
How to get traffic to your blog.
How to turn your blog into money.

I'll let you know what I think once I've had a chance to check it out. Meanwhile, go grab yours while it's still free.

Tags: retirement, early retirement, retirement option, retirement option, retire young, retirement money, planning for retirement, where to retire, retirement jobs, retirement advice

Retirement Planning Means Careful Financial Planning

admin — Tue, 25 Sep 2007 18:43:56 +0000

Planning can be a boring activity especially if you are planning for retirement. Many people realize how advantageous financial planning for retirement can be while others find it mysterious. As a matter of fact, most experts say that for people who are only making enough money to make payments due in each month, then it means that they should start contemplating how they can still make money even if they are already retired.

Surveys show that almost 75% of the American population is earning enough money to pay their monthly bills. This means that they don't have any extra money to put in a bank or in any financial institution that could provide them enough profit after their retirement. What's more Social Security is not enough guaranteed income for retired people to live on. Actually, it is still a big question if one's Social Security will still exist when the retirement day comes.

It is extremely important to generate some methods that will provide an individual a reasonable amount of money in the future. This should be done regardless of how much an individual earns, the important thing is to start saving today. One effective way is to start your own business on the Internet and many seniors are doing so every day.

Steps In Your Retirement Planning

1. Visualize and calculate: It is important for a person to visualize his or her own situation after retirement. Then, you can calculate how much money is needed to live on after retirement. Furthermore, people need earnings that compensate 75% of the present amount that he or she is expected to take home.

2. Use Competent Financial Planners: It is important to seek the help of a financial planner or any person competent in financial planning. By asking for advice from the experts, you will be able to gain more knowledge know how to proceed for you situation. These people are proficient and knowledgeable in all kinds of financial planning and they can provide the most feasible and workable approach for your individual needs.

3. Dump Debt: Get rid of loans, debts, and other financial obligations in as little time as possible. By simply paying off all debts, loans, and other financial obligations in a shorter period of time, you can realize a substantial amount to invest for that retirement. A good financial planner will know exactly how to direct you so you can meet your retirement goals.

Tags: retirement jobs, retirement option, retirement income, retire, retirement, retirement business, early retirement, retirement money, retirement financial planning, retirement advice

Don't Forget Your Retirement Safety Net

admin — Sat, 15 Sep 2007 21:49:47 +0000

The last thing you want to do is save religiously for retirement only to have your efforts undermined by unexpected medical bills, an injury that keeps you off the job or any of the other surprises life can throw your way. To protect yourself and your family, you need to have three things in hand: life insurance, disability insurance and a savings account equal to three months of living expenses. That way you (or your heirs) won't have to tap retirement accounts for an emergency.

A term life policy gives you the largest death benefit r the smallest premium. Generally speaking, you should get coverage equal to five to 10 times your salary As for disability insurance, look for a policy that will pay 60% of your salary. Before you shop, though, see if you already have coverage (or the option to get it) through your job.

Tags: retirement income, retire, retire young, retirement option, retirement option, planning for retirement, early retirement, retirement financial planning, retirement, retirement business

How Can Retirees Turn Their Hobby Into An Income Producing Business?

admin — Wed, 12 Sep 2007 18:26:46 +0000

Many retired people have spent years on thier hobbies. Now you can share your hobby with others and earn a handsome income telling others about something you love. Watch this retirees video for just one example.

Learn more about how easy it is to build a web site about your hobby and earn a nice income while you do it take a quick tour of
Quick Tour of Site Build It = Click Here

Tags: retirement, retirement jobs, early retirement, retirement option, retire young, retire, where to retire, retirement financial planning, retirement option, planning for retirement

Senior Retirees Are Targets Of Fraud

admin — Tue, 11 Sep 2007 19:04:31 +0000

Investment seminar pitches bristle in areas with large populations of retirees, and regulators are warning seniors to be leery. A probe of the meetings has uncovered high-pressure sales pitches for undesirable products, misleading claims and even outright fraud, federal, state and securities-industry regulators said recently at a "seniors summit" on investment fraud. The Securities and Exchange Commission found abusive sales practices with the North American Securities Administrators Association, which represents state securities regulators. This is a report from AARP, the advocacy group for seniors and the Financial Industry Regulatory Authority, the securities industry's self-policing organization.

The investigation conducted by the SEC, state regulators and the Financial Industry Regulatory Authority found the use of scare tactics to get seniors to question their current investments. This is often accompanied by claims of fantastic returns with no risk, and "shills" in the audience who would stand up and offer testimonials of how much they had earned.

By law, the sales pitches made at the seminars and the materials provided to participants must be approved by a brokerage or investment company's supervisors and submitted for review by the Financial Industry Regulatory Authority. The investigation, which ran from April 2006 to June 2007, was conducted in seven states with large numbers of retirees including Alabama, Arizona, California, Florida, North Carolina, South Carolina and Texas. And nearly 60 percent of the 110 investment firms and branch offices examined showed evidence of weak supervision of the employees running the seminars, according to the investigation's report.

Fraud against seniors also can occur in the sale of oil and gas partnerships or phony promissory notes. People 60 and older make up 15 percent of the country's population but account for an estimated 30 percent of fraud victims. Among other things, the regulatory authority is examining whether brokers are using so-called "professional" designations to mislead and defraud senior investors.

Tags: retirement jobs, retirement option, retire young, retirement income, early retirement, where to retire, retirement advice, retirement financial planning, retirement option, retirement money

Have You Planned Ahead For Retiement? It's Not Too Late!

admin — Sat, 08 Sep 2007 22:29:14 +0000

There are a number of tax incentive retirement plan options for taxpayers who wish to put aside money for their retirement years. Many employers provide qualified plans, such as 401(k) plans and the equivalent 403(b) plans, for employees of public schools and tax-exempt organizations. Generally, the contribution limits to these plans are the same, and the maximum is $15,500 ($20,500 age 50 and over) for 2007. These plans are generally perceived as tax-sheltered, which means the contribution is not currently included in income, earnings are tax-deferred, and the distributions from the accounts at retirement will be fully taxable. But did you know that it might be possible to designate those contributions to be Roth-type contributions that are not
currently tax-sheltered and will provide tax-free income at retirement? Not all employers offer the Roth version of 401(k) and 403(b) plans, so you will need to check with your employer. Which type of plan is best suited for you depends upon whether you can afford to pay the tax on the contribution now and what your tax rate will be when you ultimately retire.

If your employer does not provide a retirement plan (or you wish to supplement the existing one), it is up to you to establish your own. The current maximum contribution for traditional and Roth IRAs is $4,000 ($5,000 if age 50 or older). However, unlike the employer plans, the tax code imposes income caps that may limit or prevent deductions to deductible traditional IRAs and Roth IRAs. If the taxpayer also participates in an employer plan, then the deductibility of contributions to traditional IRA5 is phased out when income is between $83,000 and $103,000 for joint filers, $52,000 and $62,000 for unmarried taxpayers and $0 to $10,000 for married individuals filing separately. However, a nondeductible contribution can be made without phase-out limits. To make the contribution, a taxpayer must have earned income That is at least equivalent to the contribution.

There are three frequently over looked exceptions to the earned income rule, allow contributions to be made based on:

(1) Alamony
(2) non-taxable military combat pay,
(3) a spousal IRA based on the earned income of the other spouse.

(If the spouse income participates in an employer plan, the deductibility phase-out for the spousal IRA is $156,000 to $166,000.) Roth IRA contributions also require earned income at least equal to the contribution, and the contribution limit phases out between $156,000 and $166,000 for joint filers, $99,000 and $114,000 for single and married separate taxpayers and $0 to $10,000 a taxpayer who lives with his or her spouse, using the married separate filing status.

Beginning in 2010, the income limit ($100,000) for traditional IRA to Roth IRA rollovers will be eliminated. Let’s say that when 2010 rolls around you have money in a nondeductible IRA. This would allow you to roll the nondeductible portion of the IRA into the Roth IRA tax-free. That means you can make nondeductible contributions for 2007, 2008 and 2009 and then roll them over into a Roth IRA in 2010. You would only pay tax on the earnings from those lRAs. This will allow you to accumulate more than $14,000 ($17,000 if age 50 or over) by 2010 and then convert it into a Roth IRA.

There are also plans for self-employed individuals that allow contributions of almost 20% of net income from self-employment, but not exceeding $45,000. When combined with 401(k) plans, the contribution can be as much as 100% of net profits. In some cases, if you are both an employee of someone else and also self-employed, you can have a combination of employee plans, IRAs and self-employed plans.

Tags: retirement advice, retirement money, retirement business, retire young, retire, where to retire, retirement option, early retirement, retirement jobs, retirement financial planning

Keep Track Of Your Retirement Planning Progress

admin — Thu, 30 Aug 2007 21:23:54 +0000

You can't simply save and forget. At least once a year, especially when you're within 15 years of your hoped-for retirement date. You need to find out where you stand. That way you can make necessary course corrections before it's too late. This can include cranking up your savings or delaying your planned retirement date. Good planning can give you a rough idea of the milestones that must be hit at various ages if you wish to retire with 80% of your pre-retirement salary (minus what you save now). For a personalized look at your progress, visit the Retirement Planner in the Calculators section of CNNMoney.com. There you'll get a nuanced projection of how large a portfolio you need and your odds of reaching it.

As powerful as a 401(k) is, it isn't always enough, especially if you started late. So don't be surprised if the retirement calculators tell you to save outside your company plan as well. Those non-401(k) savings may also qualify for tax breaks. Miss out on them and you're passing up a powerful way to build wealth quickly. So once you fund your 401(k), see if you qualify for a traditional or Roth IRA. More often than not you can set aside up to $4,000 this year and $5,000 in 2008. If you're 50 or older, you can throw in an additional thousand dollars.

Tags: retirement jobs, retirement financial planning, planning for retirement, where to retire, retirement advice, retirement money, retirement business, retirement option, retire young, retire

Investments: Make Them Work For You

admin — Sun, 26 Aug 2007 20:13:47 +0000

To maximize your ROI (Return on Investment) and minimize risk, think carefully about the amount of stocks, bonds, and cash you have. You need to have a well-diversified portfolio typically has assets in stocks and bonds, as well as international markets. You may want to base you investments on a balanced fund. These types of funds seek to build a level of steadiness into their returns year in and year out by investing in a blend of stocks and bonds, aiming to provide stability as well as some prospect for growth.

To fully optimize you investments you must understand your situation. Before making investment decisions at any age, you need to consider your risk tolerance, present savings, future earning power, and other personal matters. Every retirement is different, and so should be every retirement plan. A tax and financial advisor can help if you are lost in the mix of available investment options.

Remember you need to take the long view. According to the most recent available data from the National Center for Health Statistics, a 50-year-old can expect to live, on average, another 30.5 years. If you are 50, and trying to rebuild from an investment loss, remember that you a couple of decades to recoup your losses.

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Tags: early retirement, retirement money, retirement financial planning, retire young, retirement income, retirement business, planning for retirement, retirement option, retire, retirement jobs

Seniors Working Much Longer As Times Are Changing!

admin — Mon, 20 Aug 2007 00:01:45 +0000

There are a growing number of people for whom retirement age has lost its meaning. They're staying on the job longer some for personal satisfaction, others out of necessity. Some are even working into their 90s. About 6.4 percent of Americans 75 or older, or slightly more than 1 million, were working last year. That's up from 4.7 percent a decade before, according to the U.S. Department of Labor. About 3.4 percent of Americans 80 or older were in the work force last year, up from 2.7 percent from the previous decade. Melanie Holmes, vice president of corporate affairs for Manpower Inc., an employment services company recently said that "For the first time in history, four generations are working together".

With the first wave of baby boomers reaching the traditional retirement age, Manpower has urged companies to start thinking about ways to retain and recruit older workers, through flexible scheduling. This will help them fill positions as the labor pool shrinks. Older workers often bring experience and a strong work ethic, but they may have a different style of work due to the advanced technology and they may be better at face-to-face contact than electronic communications. It is also more likely that they may adhere more strictly to company rules.

Still some companies are reluctant to hire older workers. A survey last year by Manpower found that 24 percent of employers viewed expectations for higher salary or stature as one of the top roadblocks to hiring older workers, while 21 percent cited health care costs. Nevertheless, after decades of decline, the number of workers 55 and older began to rise about a decade ago and that trend has accelerated since 2000, labor officials said. Experts cite several factors for the growth, including people living longer and the Senior Citizens Freedom to Work Act in 2000, which allowed workers 65 through 69 to earn as much money as they want without losing any Social Security benefits. Other reasons include the gradual increase in when they start receiving Social Security benefits from 65 to 67 and a decline in traditional pensions and retiree health benefits.

Many are choosing to start their own Internet business, both for income and to keep active. One of the easy ways to do this, if you are reading this, is as close as the crazy banner button on the uppler right side of this page that says "It Ain't Rocket Science" or Click Here

Tags: retire young, retirement option, retirement business, retirement money, retirement option, planning for retirement, where to retire, retirement income, retire, retirement advice

Coping With Financial Crises In Retirement

admin — Wed, 15 Aug 2007 20:13:47 +0000

Life has a way of throwing unexpected financial roadblocks, detours and potholes in our path and they sure don't stop with our retirement. These might be large medical bills for retirees, car or home repairs, a death in the family, loss of a job, or expensive legal problems. Such financial emergencies can derail your efforts to save for retirement and living the retired lifestyle you have envisioned. Here are some strategies for managing financial crises.

Establish an emergency fund. This can lessen the need to dip into retirement savings for a financial emergency. Building an emergency fund is tough if income is tight, but every few dollars help. Fund it with pay from extra working hours or a temporary job, a tax refund, or a raise. Put the money into a low-risk, accessible account such as a savings account or money market fund.

Insure yourself. Insurance protects your financial assets, such as your retirement funds, by helping to take care of the really big financial disasters. Here’s a list of insurance coverage you should consider buying:
HEALTH. If you and your family aren’t covered under an employer’s policy, at least try to buy catastrophic medical coverage on your own.

DISABILITY. Did you know you are more likely before age 65 to miss at least 3 months of work because of a disability than you are to die? Social Security Disability Insurance can pay you and your family benefits if you are severely disabled and are expected to be so for at least 12 months. (Worker’s compensation only helps if the disability is work-related.) In addition, your employer may offer some disability coverage, but you may need to supplement it with private coverage.

RENTERS. Homeowners usually are insured against hazards such as fire, theft, and liability, but the majority of renters aren’t. Renter’s insurance is inexpensive.

AUTOMOBILE. Don’t drive “bare.” It’s usually against the law to drive without auto coverage, to say nothing of being costly if you are in an accident.

UMBRELLA. This provides additional liability coverage, usually through your home or auto insurance policies, in the event you face a lawsuit.

LIFE. Having life insurance can help you or your spouse continue to save if either one of you dies before retirement. Social Security may be able to pay benefits to your spouse and/or minor children. On the other hand, you may not need life insurance if no one depends financially on you. There are many types of life insurance, with a variety of fees and commissions attached.

LONG-TERM CARE. This insurance can help pay for costly long-term health care either at home or in a health-care facility or nursing home. It protects you from draining savings and assets you otherwise could use for retirement.

Tags: retirement option, retirement jobs, early retirement, where to retire, retirement financial planning, retire young, retirement advice, retirement income, retire, retirement business