Before you apply for a loan you will want to make sure that you can comfortably cover payment, this is your opportunity to get your credit back on track - don't turn this into a situation where your credit will end up worse than it was. It is important that you pull out your pay stubs and review all your living expenses such as rent, car (gas, maintenance, insurance, etc), food, utilities, clothing and all other living expenses and make sure that you are not going to over-extend yourself. It's too easy to put yourself on road to financial ruin, always remember to be responsible with your debt load and that banks will lend you money to point where you will be dependant on loans of rest of your life - after all that's banks business is to make money from loans. I personally have never taken out a loan to maximum of what a bank will lend as it is almost always too much because they usually calculate your loan on before tax dollars and fact is you need to live off of after tax dollars. To find more about loans or credit cards you can visit http://www.loans-source.info and http://www.only-the-best-credit-cards-online.com.

However, saving for retirement still makes sense. It saves you taxes now and later. Furthermore, an aging population living longer means Social Security benefits may be reduced when you become eligible. So, start saving now by starting any one of following methods.

**Individual Retirement Account: You may contribute up to $3,000 in 2004, $4,000 in 2005-2007, and $5,000 in 2008 and beyond. When you reach age 50, "catch-up" provisions allow you to contribute an additional $500 in 2004-2005 and $1000 in 2006 and beyond. This means your IRA contribution in 2006 may be up to $6,000. **If your Internet web site incorporated, you may have an employer sponsored plan. The Savings Incentive Match Plan for Employees (SIMPLE plan) "SIMPLE plan contribution for 2004 amounts to $9,000. This increases incrementally to an "adjusted" $10,000 in 2006. **A SAR/SEP and 401(k) let you contribute up to $13,000 for 2004 (the maximum in 2006 is up to $15,000) Employer sponsored plans also allow "catch up" provisions for workers over age 50. For example, an employee over age 50 may contribute a "catch up" contribution of $3,000 for 2004 (the maximum "catch up" contribution is $5,000 in 2006).

IRA accounts and employer accounts may be opened at banks and brokerage firms. Check with your tax adviser and financial consultant first.

Social Security provides for basic needs during retirement. Make sure your resources permit lifestyle you want by saving for your retirement now.

Ray Randall is a registered investment advisor with Ethos Advisory Services, Essex, Massachusetts http://www.ethosadvisory.com. He writes a weekly newsletter for Ethos Advisory Services, and is webmaster for Echievements . You may write to him or call (877-895-3756).