3 New Strategies for Retirement Income

Much like your life now is nothing like the life of your parents, the same will probably hold true of your retirement as well. It is no longer as easy as applying for your Social Security checks and sitting back and collecting your pension. You are probably a great deal more active and will work and live longer and therefore will have to rely on income that you have saved along the way. This means you need to ensure that this income you will be saving will have the potential to last you for your entire life and be able to weather inflation, health care expenses and the ups and downs of the market. 

Although this might sound a bit overwhelming, it does not need to be. There are services out there such as Dinuzzo Investment Advisors that can help you cover all the bases. With that said, below are 3 strategies to help you secure your retirement income. 

1. Fixed-income Annuities 

This type of income is you contracting with a particular insurance company which asks for an investment up-front but guarantees to pay you a specific income amount for the remainder of your life or for a specific time period. It starts either immediately or on a selected future date that you choose. This type of retirement income is straightforward and along with Social Security, your pension plan and fixed annuities can provide you with a guaranteed income that will assist you with your expenses. Your insurance company will be obligated to provide you with payments for that specific time period that you chose or again, you can go with the lifetime option and you will receive payments for as long as you live. Regardless if you choose the lifetime option or the defined period, you will get those payments no matter what happens in the financial market.
 

2. Variable annuities 

Variable Annuities, unlike fixed-income annuities, come with underlying options for investment which offer potential growth for helping to offset inflation. This type of annuity will guarantee payments for your entire life. However, depending on the particular specifics of the annuity, the payments can go up or down depending on the underlying investment performance. You are able to pay a little extra to get a deferred variable annuity which will guarantee you with a GMWB or guaranteed minimum withdrawal benefit so that your payments will not go any lower than the set amount but can rise in the event of market performance. 

3. Investment Portfolio Withdrawals 

Investment portfolios usually consist of a mix of short-term investments, bonds and stocks. They provide you with flexibility allowing you to typically access your money when needed, and they have huge growth potential. There is always a market risk however that is associated with investment portfolios and is why it is typically suggested that you use it for covering discretionary expenses that are necessary in retirement. If there is poor performance in the market, you can always compensate by holding back on some of the discretionary expenses. 

Author Bio: 
Ashley Parker has been a freelance writer for over 3 years and has experience writing in the retirement income niche.

Why a Onesie Will Help You To Relax

There’s nothing better than that feeling you get when you finish work for the day. You throw down your pen or let go of the mouse, switch the computer off and make a dash for the door as quickly as possible. 

Braving the cold and the rain, you head for the train or your car and endure mind-numbing boredom for the next half an hour whilst you battle rush hour to get home. By this point you’re probably starving and tired! Upon reaching home, you feel like you have completed some mighty quest, triumphantly returning to your castle.

 
When you get to the end of your working day, how do you unwind? Do you religiously don your sportswear and head to the gym? Is it a case of supervising the dinner, bath and bed routine for your children? Or, do you kick back with a cup of tea and watch your favourite dramas on TV? However you spend your evening, it’s important to make the most of those precious segments of leisure time we enjoy in the week. 

The question is, what do you wear around the house? Some people favour shorts and t-shirt or tracksuit bottoms in the winter. Others prefer to keep things a little more formal, donning jeans and shirts even for just chilling at home. Then there’s people who save all their old, torn, tattered, paint-stained clothes for home, this generally being the case for those with young children. 

All of these clothes come with their advantages and disadvantages. Shorts and tracksuits can tend to look a little scruffy, even though they are comfy. Jeans, chinos and shirts look smart but are hard to relax in, because the materials are not designed to stretch. Wearing old and damaged clothes is practical, but what kind of impression do you make on anyone who just happens to pop round? 

Another option of course is to wear a one piece bodysuit. Having become fashionable in late 2012, these garments are called ‘onesies’ and entirely cover the body. Cute and cosy, onesies also keep out the cold. There are loads of different types to choose from. 

Since this type of clothing became popular, my boyfriend made an idle threat that if I ever wore one around the house he would cancel our wedding. This of course spurred me on to buy several of the things, and to wear them whenever he’s not home. I just love how warm they are and how soft they feel – much nicer than wearing normal clothes for when I’m watching a film or reading a book in the evening by lamplight, my cats cuddled up around me. 

So, when the other half dons his football pads for a night of sport in the freezing rain or snow, I rush upstairs to throw on my favourite onesie. What he doesn’t know can’t hurt him, after all! 

Author Bio: 
Roberta Cassidy is a bride-to-be currently plotting how to keep her onesie collection hidden from her boyfriend until after the wedding.

How to Talk with Your Company about Subsidizing Your Education

With the frequent changes taking place in the corporate sector, employers are continuously seeking individuals with a higher education qualification, so that they can be certain to have tasks handled by knowledgeable professionals, in an up-to-date manner. This definitely gives the company an edge over competitors; it’s all about being in control of a larger market. While some individuals may be content with a high school education, it’s evident that a good job will require much more than that, unless one opts for self-employment. Thus, if you feel that your lack of a higher education is acting as a hindrance to your advancement in the workplace, it’s time to do something about it. 

Some companies subsidize advanced training.

Quite a number of companies provide education subsidies and if yours does, there is really no point in not making use of it to get your master’s degree, considering the soaring cost of higher education. Before talking to the relevant authorities, you should first have a solid reason on why you need to take a master’s program. When you make it clear in your mind beforehand, it will be easier to get it across to your company, and thus give you better chances of being successful .In addition, the motivation behind your action will ensure that your plan is clearly laid out, and this will enable you to develop an effective course of action.

You need to convince your employers that you will be more resourceful to the firm if you advance in your training. Show them that by offering a subsidy for your education, they will be making a worthy investment. It is true that when they subsidize your training, they will expect the benefits to surpass the costs otherwise it wouldn’t make sense to provide it at all. Therefore, it’s up to you to prove that it’s a worthwhile venture. 

How will your advanced training benefit the company

The kind of training you settle for should be dependent on the skills you intend to acquire. For instance, if you are dealing with IT at the workplace, it would make sense to go for a master’s program along the same lines; how you make your course selection is really important. Here are the advantages you are bound to obtain once you go through the higher education:

• It helps you obtain specialized knowledge in the field, thus enhancing your performance in the same industry. 
• It enables you acquire advanced skills in your area of interest 
• It gives you an edge over other employees hence makes you valuable to the company. 
• it’s an effective way to evade the lower paying jobs 

Remember, obtaining a master’s degree while you study can be quite a daunting task, thus you need to have a good reason for doing it; you must know how the education is going to help you once you are done. For instance, a master of management will help you deal better with business management, whether employed or otherwise. Always do a research prior to signing up so that you only go for something beneficial.

Reverse Mortgages 101- When To Use One

In America they are called reverse mortgages, in the UK they are called lifetime mortgages, and while the names may be different, what they are and how they are structured are basically the same. 

In essence a reverse mortgage is a equity release scheme allowing the homeowner to gain access to the equity in their property and use this equity as a monthly income to live on, or it can be taken in one lump sum. 

The majority of property owners that would make use of a reverse mortgage would be older, senior citizen/OAP, possibly already retired, and naturally having substantial equity in their homes. 

Basically an example would be this: 

A homeowner who meets the minimum age requirement, usually in their 50’s, and has an outstanding mortgage on their home with a small balance, or may own their home outright, wants to gain access to the equity or value they have in their property without having to sell the property and find new accommodations. 

They may want to access the equity they have either as a lump sum, or in the form of an income, receiving payments each month to supplement what income they may have, or as their sole source of income. 

They would make an application for the reverse mortgage with a mortgage lender or broker and this person would then qualify them for the loan based on a few factors. 

These factors would be the amount of equity they may have in their property, their age, interest rates that are available at the time, etc. 

The mortgage lender is only going to lend a certain percentage of the equity or value of the property. The older the person is who applies for the reverse mortgage, the higher the percentage may be that is allowed to be lent. This is due to the fact that with a reverse mortgage there are no payments to the mortgage lender, they are making payments to the borrower out of the equity in the home. The older a person is who is looking to do this type of loan, the less years they have to live, so they can receive a higher monthly payment. It is a sad fact of life, and also how payments can be determined. 

The person applying for the mortgage once approved will begin to receive the set monthly payments and are allowed to continue to live in their homes. Upon their death, the mortgage company will then take back the property and sell it to recover their costs, expenses and pay back the mortgage. 

Who are reverse mortgage for and when should they be used? 

Obviously the person will be older with sufficient equity in their home, and they may be in need of the additional cash each month to live off of. 

It also will be someone who is not looking to leaving their property to a family member upon their death. 

I have a close friend who has no children, he is single and owns his property outright. he has a few more working years left and then when he retires we have discussed him looking into a reverse mortgage as a way to gain some extra money each month so he can continue to live the lifestyle he currently has. For him the reverse mortgage is ideal. 

So just an overview of what reverse mortgages are and some ideas of who and when to make use of one. 

Author Bio: 
The author Jon Emge is the Web Content Manager and Senior Advisor for My Money LTD and also writes articles and blogs for www.lifequoes4u.co.uk. 

He has over 25 years experience in the field of personal finance in both the USA and UK, of which 17 years has been providing debt and bankruptcy advice. 

Paid Internships During Studies and How to Get Them

Taking on an internship during your studies may sound like a lot of hard work, especially if you're already studying for exams or writing essays.

However, in competitive job markets like finance, media and politics, having a good internship on your CV can give you a huge advantage when it comes time to apply for your first real job. 

There’s no doubt that some internships are more worthwhile than others, so how do you go about selecting the right one, and once you've found it, how do you make sure you get it? 

How will an internship help you’re career?

Completing an internship during your studies will help your future career in a lot of ways. Firstly, it shows that you’re serious enough about your intended profession to seek out extra work during your time off, and secondly it shows you’re hard working and dedicated. 
The next most important thing that you’ll get out of an internship is experience. Any prospective employer will tell you that you can have all the qualifications in the world, but there’s simply no substitute for real, hands-on experience. 

You’ll get to see what working in your chosen industry is really like, meet the people who are already doing it and hopefully make some great contacts for the future. All of which will give you a big leg-up on the career ladder. 

If you’re looking for a career in top financial institutions, an internship is invaluable 

How to choose an employer 

There are plenty of different companies and institutions that offer internships, and it may be tempting to take the first one that you’re offered, however the quality of the internship will have a big impact on its value and on the amount that you get out of it. If you’re looking for an internship in the financial sector, make a list of the companies that you’d really like to work for in the future. Remember, this could be a real foot in the door for you, so select wisely. 
Most financial institutions will have established internship programs, and it might be possible to contact people who have already completed it. Ask them for information on what you can expect and whether they found it beneficial in the long run. 

When to do an internship 

When you do your internship will depend on your college or University timetable and the requirements of the company you'll be working for. A lot of internships run during the summer break, but it might also be possible to do one day a week or even weekends. 

How to get an internship 

Finding an internship that you want to do and then securing it are two different things.

There’s always going to be a lot of competition for the top companies, so be prepared to work hard even before you've got an interview.Many institutions have an online application form to fill out rather than a number to call. So start by filling this in and submitting it to them. 
If you can, try to find out the name of the person at the company that is responsible for recruiting interns and send them a personal email, this will help them to remember your name and give you a better shot at getting the job. 
Doing an internship will help you to make contacts and meet influential people 

How much can you expect to get paid? 

The amount that you’ll get paid for an internship will vary widely between companies, with some only covering the cost of your travel and lunch money and others paying enough to live on and even to save.

Don’t be afraid to ask about payment in the interview or initial recruitment stages. After all, if you’re applying to a financial institution or related business, money is an important subject.

If you’re hoping to enter a career in finance or any other competitive industry, undertaking an internship during your studies will prove invaluable.

It may not seem like much fun at the time, especially when you’re friends are out enjoying the summer, but when it comes time for your first job application, you’ll be head and shoulders above the rest.

This article was brought to you by Arnold Hill the UK experts in inheritance tax planning

7 Ways to Stay on Top of Your Savings

As the economic climate continues to look bleak it is important to stay on top of your finances. As well as staying on top of your savings, you also need to cut down your outgoings and identify ways in which you could do so. From looking at your receipts to the latest apps, we look at ways you can stay on top of your finances in 2013. 

1 – Simplify Your Finances 

It is a good idea to consolidate all your debt onto one credit card and also try to shop around for the best rates you can get on your savings and current account. The less organizations you have to deal with, the easier it will seem to focus on your finances. 

2 – Use Apps 

With a huge range available on smartphones, tablets and computers, finance apps are a great way of tracking your expenses and allow you to work out budgets efficiently. Many of these apps also let you sync up different account. 

3 – Online Banking 

With online banking at your fingertips  it provides a great way for you to stay on top of your finances. It also allows you to set up direct debits that can be a great way to ensure you meet financial deadlines in the future. 

4 – Analyse Your Budget 

As many finance guest posts state - Separate your budget down into sub sections such as bills, food and luxuries. Doing so will allow you to see where you could be spending less, ultimately helping save you money for the future. 

5 – Keep Receipts 

Keep all your receipts together in manageable folders or even scan them onto your computer. In doing so, you can ensure you are not wasting money and it allows you to break down your finances further. 

6 – Direct Debits 

Setting up direct debits via online banking couldn't be much easier and it is a great way of ensuring you meet payment deadlines on time and avoid penalties. 

7 – Loans 

Look out for loans that may be suitable to your situation, whether it is payday loans, loans for bad credit or guarantor loans. It is important to ensure you shop around for the best deals to ensure you don't get ripped off. 

Author Bio: Luke writes about finance, from extreme money saving to the latest news in the industry. In his spare time he enjoys helping others, you can find him on Google +.