As with so many aspects in our busy lives, it's easy to put things off for another day. This is the case with many people when it comes to financial planning.
But each day you let pass by means that your future financial security is at risk.
So if you haven't done any financial planning yet, where should you start? It's easier than you might think.
Read on to find out more…
How to... ››› more
You know what they say: the sooner you start saving for retirement, the better off you will be in your golden years.
What happens when you feel like you are running out of time when it comes to saving for retirement?
When time is not on your side, you have to take immediate action.
You may need to rethink your entire retirement planning. For instance, if you had planned on retiring at ag... ››› more
Most people know that they should be saving for unexpected events, such as a job loss, sickness, or home repairs, but they lack the discipline and never actually get to the saving part.
Starting an emergency fund should be a priority, not an option. Since you can't predict the future and unplanned events happen all the time, having a certain amount in savings is both smart and necessary.
If ... ››› more
Saving doesn't come easy for most of us. When you're not making enough to live comfortably, you probably think that you can't afford to save. People who earn less have more trouble saving than others, although they could be saving each month, even if it's only a small amount.
How can you teach yourself to save more money each month? Here are five ways to get started.
1. Change your attitude t... ››› more
How do you know if you're saving enough for retirement? That's a tough question to answer. Because no one can tell you how much you need to save - it largerly depends on your lifestyle, current income, and on your future plans for retirement.
One thing is for sure: most people postpone saving for retirement, thinking they will have plenty of time to save later, and instead focus on living well ... ››› more
Choosing the right annuity is essential for soon-to-be retirees who don't have enough money in savings in order to live comfortably during retirement.
There are different types of annuities out there and you must make sure you understand what each of them entails before making a decision.
Annuities are especially beneficial for people nearing retirement age and for those who wish to protect ... ››› more
When we're young, we're sometimes oblivious to the fact that we should save for retirement. But the fact of the matter is, the earlier you start the better.
Not all of us are fortunate enough to have an employer that contributes to a pension fund. And, a savings account just won't give us proper returns over the long term…
Some of us want to start investing, but with so many investment cho... ››› more
We can discuss retirement planning for hours, yet we still fail when it comes to taking action. The problem isn't that we don't know how to plan for retirement - but that we don't take the required action.
In tough economic times, retirement planning can become even more of a challenge. You need to be even more vigilant and come up with a solid strategy in order to increase your retirement savi... ››› more
Are you considering consolidating your retirement accounts but don't know why you should do it?
You can consolidate retirement accounts and transfer the money from several accounts into a single account in order to save time, energy, and stay organized and on top of your finances.
Here are a few reasons why you should consolidate your retirement accounts.
You pay less in fees
It’... ››› more
Retirement planning is a process that should be started as early as possible. Hiring or consulting a financial planner is often a good idea, because a professional can help you avoid certain costly mistakes.
Since you have decades to plan for retirement, you have enough time to prevent certain mistakes that may cost you dearly down the road.
Here are some of the most common retirement mistak... ››› more
When you've only got a few years to go until retirement, every rand counts. Your main priority should be to increase those retirement savings.
What is unfortunate is that most retirees run out of money ahead of time, especially if they keep their preretirement lifestyles.
The best way to survive retirement without running out of money is learning how to stretch out your savings and how to m... ››› more
If you're in your thirties, chances are that retirement planning is not one of your priorities. If that is the case, it's time to change your perspective a bit.
Why? Because it's never too early to start saving for retirement. Actually, the sooner you start, the better.
How do you get started?
First of all, it’s completely understandable if you’re still uncertain when it comes to your... ››› more
When you turn 60, retirement seems just around the corner. Although that may be true, it's never too late to prepare for retirement, not even in your 60s.
There are plenty of things to consider once you've reached 60, including how much money you still need to save.
The main question on everyone’s mind once they’ve turned 60 is: do I have enough saved up for retirement?
In order to ... ››› more
Planning for retirement can become quite frustrating at times, especially if you start saving late or can't afford to save enough each month.
However, you can always play catch up on your savings and you can make sure you don't make the following five mistakes that could ruin your retirement plan.
Retirement mistake #1: Withdrawing money from your retirement account
If you’re in despe... ››› more
When it comes to retirement planning, women should be extremely careful. Since they generally work for fewer years and earn less than men do, they need to plan ahead and budget their money even more carefully.
Women can prepare for retirement by doing the following.
Retirement planning tip #1: Understand your retirement needs
Before you start saving for retirement, you need to understand... ››› more
Everyone wants to retire comfortably, but many people get stuck somewhere along the way.
Saving enough for retirement takes time, discipline, and sacrifice.
Once you've managed to save enough to live comfortably during retirement, another problem emerges: being able to stretch out your retirement savings so you don't run out of money.
Many retirees are faced with a dilemma: how much of t... ››› more
When it comes to saving for retirement, women often feel less prepared than men. Retirement planning is especially difficult for women, since they must work harder to secure the same pension and benefits as men.
How can women better prepare for retirement in order to live comfortably and be financially secure during their golden years?
Here are four retirement strategies that women should con... ››› more
If you're looking to invest money into the bond market, then government retail bonds could be the perfect option for you.
They have a number of advantages to you as a private investor.
Let's take a closer look at these benefits…
Five reasons to buy government retail bonds
Advantage #1: Government retail bonds are a low cost way to buy bonds
Unlike investing in many other ty... ››› more
Many people are clueless when it comes to their retirement savings. They don't know how much money they should save and they keep postponing retirement savings for the future, without considering the consequences.
How can you figure out how much money you need to save for retirement?
Start by determining your current monthly expenses and your net worth. You need to know how much money you’r... ››› more
Planning for retirement should start when you're young. The quality of your retirement largely depends on the amount of time and energy you put into its planning.
The more responsible you are regarding your retirement planning, the more you can accomplish when you actually retire. Think of everything you dream of doing in your golden years and motivate yourself to save more each month.
Finan... ››› more
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