World Of Financing» Retirement WOF – Bad Credit Unsecured Loans

Terry Savage’s – The Savage Number

Wofadmin — Thu, 10 May 2007 11:27:56 +0000

First Woman Trader On The Floor of The Chicago Board Options Exchange, Terry Savage, lays out “The Savage Number”. She discusses retirement planning for the baby boom generation.

“It pays to plan while you can.”

Early Retirement On One Million Bucks

Wofadmin — Thu, 03 May 2007 19:45:44 +0000

Interesting article over at PF Blog on retiring early. There has been a few good posts on this subject over there, and here is the short outline on his personal retirement scenario.

“…………….

We probably need $110k (adjusted annually for inflation) to maintain the household if I bid farewell to the corporate life.
The earning power of our household business is becoming more reliable (and strong) now. To be very conservative, we can probably count on at least $50k after tax per year from these entities for the long run — that’s only half of our revenue run rate right now.
I might be looking for some part-time consulting or training jobs in the future, and these jobs should be able to net a quick $15k after tax per year.
From my million-dollar portfolio, an ultra-conservative allocation should return 5-6% a year, so it is another $55k.

So without any fancy math, it appears that a million dollars is all I need for my financial independence. In fact, since I’m so conservative in counting my income streams and really liberal on the expense side, I will most likely be able to pay all my bills and contribute more savings to our retirement fund to defeat the inflation. So once again, $1,000,000 is enough.”

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Retirement – Trustee Directed 401K Retirement Plans

Wofadmin — Wed, 25 Oct 2006 11:36:54 +0000

A trustee directed 401K plan is one in which a trustee is appointed to oversee all of the fund. These trustee directed plans are not popular and are becoming rare at this point.

Retirement – Participant Directed 401K Retirement Plans

Wofadmin — Tue, 24 Oct 2006 09:16:32 +0000

Participant directed 401K retirement plans are plans in which the employee can direct a portion of their invested money goes, whether it be in bonds, money market funds, mutual funds, or stocks. The participant directed retirement funds are preferred because of the ability to control your financial future. See also Trustee Directed 401K plans.

Retirement – Problems You Can Have With Your 401K

Wofadmin — Mon, 23 Oct 2006 06:56:10 +0000

A 401K Retirement plan can have problems that you should be aware of. It used to be that a 401K retirement plan offered through an employer did not allow any kind of control for the employee. Employees were held at bay while their money was squandered or invested back in the same company they work for. This is not allowed any more as of new regulations, but employees have still don’t allot of control with their 401K retirement plans. An IRA or a Roth IRA can give more flexibility. On the flip side though – you may be lucky and have excellent fund managers handling your 401K, so you are making good money. In that case just let it ride.

Retirement – The Big Retirement Mistake

Wofadmin — Sun, 22 Oct 2006 04:35:48 +0000

The biggest mistake Americans make in this topsy-turvy world is cashing in their IRA or retirement savings bonds when they move from one employer to another. This sounds like it’s hard to believe (I know) but many people cash in their retirement funds when they are laid off by their employers. They’ll actually cash it in and take the massive tax penalty on the chin…….then they blow it. Whatever you do, just roll your retirement instruments into the next company plan, or invest it in another safe retirement plan. Just pretend that money is not there. Don’t even think about having access to it before you roll it in the next saving and investment plan.

Retirement – When To Start Planning For Retirement

Wofadmin — Sat, 21 Oct 2006 02:15:26 +0000

When you should plan for retirement is a great question, and it has any easy answer – NOW. Regardless of your present age, you should get going and start putting together a plan for retirement. There are statistics that suggest you should be planning for retirement by the age of 55 for men and women alike. Some research data suggests that the age could up to 10 years earlier and up to 5 years later. The answer, in our opinion, is immediately. The sooner you start planning out your retirement years, the better chance you will have of living a quality lifestyle when you are older.

Retirement – Great Web Site For Retirement Planning

Wofadmin — Thu, 19 Oct 2006 23:55:03 +0000

We at the World Of Financing would like to recommend a web site for planning your retirement with. The site is http://www.choosetosave.org/ and they have a fantastic resource for finding the information you need to plan your retirement wisely. Here is a small quote from their site, and it briefly explains what they provide. Financial security is one of the most important issues for most Americans. Whether it’s putting kids through college, saving for an emergency, buying a house, or saving for retirement – having enough money for life’s demands is among our biggest concerns. And yet, many Americans have not taken even the first steps toward a secure financial future.

Retirement – Some Retirement Data For Americans

Wofadmin — Wed, 18 Oct 2006 21:34:41 +0000

There is now some enlightening data and statistics on American retirement planning (or lack of planning) Interesting Retirement Statistic #1 – Most Americans spend 19 years in retirement. I believe that number is growing rapidly with modern medicine and consumer education. Interesting Retirement Statistic #2 – Sadly only 70% of the employed in the United States who have 401K plans actually use the benefit. Interesting Retirement Statistic #3 – Under 65% of United States citizens have actually figured out home much they need for retirement. This is startling, as this information is critical for people to know if they want to enjoy a lifestyle even close to the one they presently have while employed.

Retirement – Stick To Your Retirement Plan

Wofadmin — Tue, 17 Oct 2006 19:14:19 +0000

Never touch your retirement savings money no matter what. Try to think of your retirement funds and accounts as lost money. Pretend that all the money you have invested is simply not there. Try to lock your money up in your IRA, or mutual fund, so that you cannot easily access those funds. At the very least, try to set up the funds difficult to access quickly. If you have a cool down period, you will likely decide to be smart, and leave your retirement monies where they belong – in a bank, bond, fund, home, or safe investment.