Post Retirement: 5 Ways to Boost Your Financial Portfolio

Retirement marks the beginning of an exciting new chapter in your life. You are no longer working to satisfy the goals and dreams of your boss. These days, you are looking to ensure that your own goals and dreams are being fulfilled. What are some things that you can do post-retirement to make sure that you have the financial resources to stay in control of your own life?

1) Never Stop Investing

It is a good idea to always be on the lookout for that next great investment opportunity. Whether you want to buy an income property, purchase gold bullion or invest in a business, you should always be looking to put your money where it will continue to grow for you.

2) Get A Part-Time Job

After retirement, you may loathe the thought of going back to work. The good news is that you have the flexibility to choose a job that interests you. Instead of working because you have to, you have the time to work as a bartender, on the golf course or at the body shop because you want to and its a great way to make money while getting out of the house.

3) Meet With A Financial Planner Regularly

Your financial planner is your best friend. He or she will show you how to responsibly manage your money in ways that will allow you to live your life without fear of going broke.

4) Maximize Social Security Benefits

Do you suffer from pain or soreness due to years of physical labor? If so, you may want to meet with Harris Federal, a federal disability attorney to see if you can start collecting social security disability checks without having to sacrifice money in the future.

5) Look For Ways To Reduce Your Tax Burden

Each dollar that you don't send to the government is a dollar that you keep in your bank account. Therefore, it is in your best interest to find ways to lower your tax burden whenever possible. An easy way to do this, if you are under age 70, is to keep your money in your retirement account to avoid paying taxes on accrued interest.

Once you retire, you won't have the large paycheck and health benefits that your employer has provided for you. This means that you have to think of ways to provide for yourself for the next 20 to 30 years.

Benefits of a Cloud Based Phone System

Cloud based phone system is a new technology that enables phone services to be delivered via the internet. The key role of the system is the ability to deliver calls through the internet, route inbound call to the right employees within a company, and offer telephony applications, such as voicemail and call recording. It provides the best features and reliable services. This system stores data in a safe server which can be access via the internet. It replaces conventional land lines. BroadConnect Telecom is an example of Companies that offer cloud based phone system services. 

Benefits of cloud based phone system

Saves costs
The system is cheaper compared to conventional land lines. The system does not need costly hardware such as servers that depreciate with time. You only have to subscribe to a program with monthly or annual fee. This offers your company financial flexibility.

Easy set-up
It does not require wire routing therefore easy to set up and operate. You don’t need dedicated manpower. This involves hiring people whose sole purpose is to administer the hardware and the system. Company owner can be able to manage the cloud phone system using a friendly web interface. This provides you more power over how your employees communicates. 

It is simple to expand or reduce communication features. You can be able to delete virtual extensions with just a click on your account. There is no need for new wiring or shifting office furniture. If you intend to open another office at a different location, you won’t buy a new system. The service is able to join different offices under one system.

Saves time
Conventional business phone systems require high maintenance and intense set up processes. With a cloud based system you skip all those procedures and save time

Advanced features
Clouds phone system provides advanced features such as the capacity to add several extensions,call forwarding, voicemail  message management, voicemail and different phone alternatives. You can be able to record voicemail messages, set up several voicemails, or read voicemails online.

How Retirees Can Save Money on their Energy Costs

Air conditioner, complete with piping, insulated with foamed rubber pipe covering (common refrigeration insulation, along with foamglass). (Photo credit: Wikipedia)

Winter can be a particularly hard time for anybody. People are more prone to illness, roads become burdened with inches of that cold powdery stuff, and our finances are strained by the increasing energy costs of keeping our homes warm. However, winter can be particularly hard on elderly retirees who are hoping to stretch their retirement budget as efficiently as possible. 

While other homeowners are able to turn off their systems to save some energy costs throughout the day, retirees don’t really have an option if they’re homebound. Especially given that around 70% of arthritic individuals suffer far worse pain due to arthritis in cold weather, it can be difficult to compromise on keeping a home heated comfortably for the sake of a budget.

However, with the right practices, retirees never have to worry about paying exorbitant energy bills to keep themselves warm. Here are a few tips that folk who find themselves retired, or anyone who spends the majority of their time inside, can benefit from in reducing their heating related expenses this coming winter:

Perform regular cleaning and maintenance

When it comes to your HVAC system, realize that many parts come with expiration dates. No air conditioner lasts forever, ducts require constant maintenance to remain sealed, and homes regularly need to be audited to make sure you aren’t wasting energy. But if you’re experiencing trouble with your system before your equipment’s typical lifespan, it’s important to ask yourself if you’re having regular maintenance and cleaning procedures performed.

It’s important to recognize how your system works if you intend on doing these procedures yourself. It’s important to recognize the sort of system your house runs on; while many homes run on centralized air conditioning systems, newer houses run on split systems. See this article for a look inside the split system A/C in your home.

Some general forms of maintenance that you should certainly consider to improve your equipment’s lifespan and energy efficiency include:

• Changing or cleaning your filter
• Cleaning coils inside and out
• Monitoring your refrigerant for leaks
• Cleaning your ducts when debris is excessive or creating a blockage

However, it’s important to recognize your limitations if you find yourself unable to accomplish these tasks. Various how-to’s exist online on these subjects for all kinds of circumstances, but doing repairs which are out of your comfort zone could result in personal injury or property damage. And remember – always turn off your system and disconnect power supply when doing any sort of in-depth maintenance.

Consider how well your home “stores” heat

Depending on the amount of insulation and how weatherized your home is, you might be losing a tremendous amount of energy in your home. With improper insulation, it can leak through your walls. With poor weatherization, you can be sending heated air directly out of gaps and crevices in your windows, doors, open frame construction, and other areas. We wouldn’t leave a door open with the heater on; it’s equally reckless to let these gaps go unmaintained if you want to optimize your heating system.

Installing insulation should be left to a professional, especially if it requires removing or working around insulation which contains asbestos. However, weatherizing your home puts you at significantly less risk. This simply requires knowing where to find leaks in your indoor environment and how to seal them using applications like caulk, polyurethane coating, weather-stripping, and other readily-available adhesives. Professional services can perform these tasks for you, though at a premium. Doing it yourself might be advantageous if your budget is too great of a concern and you are physically capable.

With these tips, you can save yourselves up to hundreds of dollars annually on your energy bills. More importantly, you can keep yourself cozy even in the harshest times of winter without worrying about spending too much.

By Jason Wall, an HVAC technician of over 23 years with Griffith Energy Services

Make Sure You Properly Value Your Residence before Getting Homeowners Insurance

Before you attempt to purchase a homeowners insurance policy for your home, it’s vital that you know how much your home is worth and the cost of replacing what you have. This will help you determine the right amount of insurance to buy and helps your insurance agent get a better feel for the policy that you need to have in place. Doing your homework before you actually meet with an agent or get an online quote makes the premium that you receive reflect more accurately the policy that you should have.

How Much Will Rebuilding Cost?

Because building materials continually rise in the marketplace, the cost of rebuilding what you now have is indeed much higher than it was at the time of construction. You’ll need to determine what this cost for rebuilding would be if your home were totally destroyed. Meeting with a local contractor will give you an excellent idea of the cost per square foot in today’s construction industry. You will have to inform your builder of the size, style, and the quality of your appointments to arrive at a reliable figure. Perhaps you can arrange for a contractor to tour your home as it stands now, review the materials used along with the types of countertops  cabinetry, and flooring, and offer you an estimate of replacement costs. You should work with a builder who constructs custom homes so that his expertise will fit the type of home that you have.

Appointments Matter in Construction

Many homes in Florida have an exceptional touch with appointments that add elegance to the styles available in this tropical locale. CNN’s Money Magazine recommends that if you want the same type of moldings, flooring, windows, cabinetry, exterior, and custom appointments to be replaced with your homeowners insurance policy, you should make sure that the builder is aware of this. He may provide you with an estimate that uses less-costly traditional materials if he doesn’t know what you want as replacement appointments. When you select your insurance agent, you should also invite him to tour your home and discuss the possibilities of replacement materials and structures with him. You should remember to include marble, granite, custom designs, and exterior products that you prefer when placing a value on your home.

Documentation is Essential

As you prepare to purchase your Florida homeowners insurance policy, you should have documentation in place that shows exactly the items that you have, how they were displayed or arranged, and the true condition of your collections. Photos as well as videos provide excellent sources of information about the condition of your home prior to your claim of damage. You can stroll through each room and narrate exactly what you are viewing for the insurance provider. Include glasswork, antiques, special collections of jewelry, art, or firearms, and the upscale items that add to your home’s décor. Store this documentation in a safety deposit box or safe so that you will have proof when the time comes of what you once had.

Doing your homework before purchasing homeowners insurance is an excellent way to get the policy that you truly need.

Early Investments Help You Financially after Retirements

In the past workers were enjoying the security of the pension plan, however today they are not that fortunate. These days it’s up to each and every worker to make preparations for their own retirement, meaning that they have to do some serious planning. Each one of us can enjoy a happy and a much financially secure retirement, however it is very essential to start preparing for it as early as possible.

Take Advantage of the Tax-Deferred Savings

“If you have an access to the 401k plan at your place of work, consider investing in it as much as you can really afford.

• A 401k plan normally provides an opportune way of saving for your retirement and also reduces the current income taxes. 
• That normally means that if you usually get refunds, investing in 401k boosts the size of that particular refund. 
• If you owe money, the 401k reduces what you owe and to some extent tips the scales back to the refund.
• In addition to the upfront tax savings, the cash that you invest in 401k accumulates on a tax deferred basis, denoting that the amounts are only taxed when you receive it once you retire.”

Ramp-up The Contributions

“If the 401k plan has an automatic escalation feature, make use of that benefit.

• An automatic escalation feature normally increases the percentage of your contribution each year until the maximum that has been set by the plan. 
• That makes investment for your retirement automatic and painless, eliminating the biggest impediment to investing in 401k plan in your firm. 
• Avoid the inactivity when it comes to the 401k plans, signifying that you never adjust the contributions to account for the raises and a change in financial situation.
• Placing your savings on an automatic escalation feature helps you to save more therefore accumulating a much larger retirement portfolio.”

Invest steadily

“Invest in dependable and steady stocks, and then leave your investments alone.

• Some blue chip companies like AT&T or even Ford, had been in occupation for decades, and they have consistent and steady growth every financial year, making them a great opportunity for investing. 
• Leaving your invested stocks alone ensures that you are giving them enough time that they require to perform to the fullest.”

Mutual Fund

“Make sure that you contribute more frequently or even annually to a mutual fund.

• A mutual fund is one of the safest long term investment opportunities that you will ever have, with yields above 10% common.
• In many cases, you can withdraw your mutual funds without penalty as well as contributing to it as often as you may like.”

Agency Bonds or Treasury bonds

“Buy either the U.S. Agency Bonds or Treasury bonds.

• Treasury bonds are normally guaranteed, but with lower interest rates. 
• Agency bonds issued by the government agency rather than the Treasury are never guaranteed, but have much higher interest rates.”

Set Up Goals

“Set up a step by step plan.

• Financial experts recommend that you set up your goals based on where you actually want to be 9, 6 and 3 years before getting to the retirement age. 
• This gives you enough time to plan as well as execute your ideas and would let you modify your plan if it becomes hard to meet these goals.
• Step up the speed of your plans as you approach the retirement age. 
• Increase the frequency and the amounts of your contributions, and keep investing in additional stocks.” 

Pay Off Your Debts

“Come up with a good plan of paying off all the debts that you owe long enough before you retire.

• This should be your objective of going into retirement without outstanding credit card debt; however you should also finish paying for your mortgage prior to retirement.”

Decide how much wealth you require to live comfortably

“Think about your day to day expenses, but make sure that you add things that you will want to do in the future that you aren’t doing now, such as pursuing a hobby or even traveling.

• Take into consideration the price changes and inflation, and do not forget to plan for the unforeseen circumstances.”

Opt For Financial Planner

“Consider looking for some help from a financial planner who will help you to set up a good savings plan and investment.

• This is very significant if you have little or no knowledge about the finances or if you’re looking to invest in large capital quantities and need the assistance of a professional.”

Crunch The Numbers

“The Internet has very useful tools available that can help you to figure out exactly how much you should be saving.

• These tools are very simple to use. You just input what you want to be saving every month, and they calculate the estimated worth.”

Level Of Risk

"Make sure that you know your actual level of risk.

• If you are conservative with your money you will need to set up smaller goals. 
• People who are willing to risk can make loftier goals however they need to be much aware of their chances. 
• Knowing your exact comfort level is the key to determining the plans and goals that you have once you retire. 
• Assess your financial situation and commitments that you currently have will help you to determine the amount of money you need to put towards your retirement.”

Avoid Market Timing

“Even major experts in this industry have some troubles calling bear and bull markets, so your chances of getting everything right every time is very small.

• People who try to time the markets usually end up getting in and out of it at the wrong time, and that can eat their profits in a long term. 
• It’s always good to use the dollar cost averaging approach meaning that you invest a similar amount of money every month, despite how the stock markets are doing. 
• This will allow you to accrue more shares when the stock market is down and profit when it recovers.

See your accountant, financial planner or call axa insurance contact number for more objective opinions on how you can save your money for retirement. You may not see some areas of your normal budget to cut more retirement money; however these professionals will convince you otherwise and can give you a much clearer picture of all the options that you have.”

How to Stay Organized After Retirement

In many cases, retirement means moving to a smaller living space. Even if you're not moving, it is still a good time to think about getting organized. Taking on a task this daunting does not have to be overwhelming. Here are five tips to make the process a little easier. 

Hobbies

Finally you have the time for the hobbies you always wanted to pursue. Whether it be sewing, woodworking, or some other craft, you will need an organized workspace. There are many creative ways to store your materials. Take advantage of inexpensive pegboard, or use a tension rod with shower curtain hooks for hanging supplies. Tackle or jewelry boxes are great for small items. An organized space will make you feel more inspired as you work on your new hobbies.

Grandkids

Your children will probably drop your grandkids off from time to time. Keep a couple of easy access bins with art materials, games, and books for them to enjoy while visiting you. Perhaps bring out a couple of toys from their parents' childhood. They'll love seeing what their moms and dads played with as children.

Memorabilia

No doubt you have kept toys, school papers, and artwork from when your children were growing up. Grown children are often reluctant to store their childhood memorabilia. Try inviting them over and going through the boxes together. You can sort out the things that really mean something to them, and perhaps create a couple of scrapbooks they will want to bring to their own homes.

Creative Storage

You will have to use the space in your home effectively as you get more time in it. Buy under the bed storage bins for seasonal clothes. Space bags are great for blankets and holiday linens. Take advantage of wicker shelf baskets and ottomans with storage inside. Try finding new ways to keep everything you need organized and at hand.

Storage Units

You may find that your new space is just not large enough to accommodate some of the things that you are not ready to let go of yet. Storage units are abundant, inexpensive and climate-controlled. San Diego self storage units are also a great option for recreational items like fishing or camping supplies, or any extra antique furniture that are taking up too much space.

Once you have your home organized and clear of clutter, you will be ready to fully enjoy your retirement. Having your life in order will give you the sense of calmness and freedom that you have waited for.