Retirement Planning - Your Financial Future Is In Your Hands

Written by Kelly Gillis

Retirement planning is for some something they don't think about until they're past time to makerepparttar most ofrepparttar 150200 opportunities available when they were younger. Retirement planners agree that in order to enjoyrepparttar 150201 same lifestyle in retirement that you do now you will need 70-90% of your pre-retirement income. The best part is that it's really never too late to start, or, asrepparttar 150202 old saying goes, "better late than never". Here are some ideas to help you with successful retirement planning at any age.

Most retirement planning specialists will tell you that one ofrepparttar 150203 first keys to successful retirement planning is starting early. It's simple,repparttar 150204 earlier you start saving for your retirementrepparttar 150205 more money you will have due to compounding of dividends and interest. The difference can be startling. If you started saving atrepparttar 150206 age of 40, you'd have to save over three timesrepparttar 150207 amount of money that you would have if you had started atrepparttar 150208 age of 25 to haverepparttar 150209 same amount of money at age 55.

Experts agree that you will need three main sources of retirement income, your Social Security, your pension, and your personal savings, (profit sharing, IRA's, or 403 (b) plans). Max out your employer sponsored retirement plans. These are a great way to save for retirement. Along withrepparttar 150210 immediate tax savings these offer, many employers offer incentives such as matching a percentage of contributions. IRA's (individual retirement accounts) are also excellent ways to save for your retirement. This money is put away pre-tax. When you withdraw this money at retirement time you are in a lower tax bracket. The downside of IRA's is that you cannot use this money before a certain age without significant tax penalties.

Thinking Of Co-Signing For A Loan? Read This First

Written by Roy Thomsitt

It is quite common for someone, who is having trouble getting credit, to approach a friend or relative to act as a guarantor or co-signatory for a loan. They've seen that new car they would dearly love, but have one problem. For one reason or another they are a credit risk, and cannot get a car loan on their own. It may seem simple when they say that all you have to do is sign. That's it! The trouble is, that is onlyrepparttar beginning; at least, if things go wrong, signing forrepparttar 150184 loan is not "all you have to do."

The Reality Of Co-Signing A Loan - What You Should Know

Before you finally co-sign that loan application, there are a few things you ought to know. In reality, it is not just a matter of signingrepparttar 150185 loan application. You will be entering a serious loan transaction, in which you will have responsibilities, just as if you were applying forrepparttar 150186 loan yourself. If your friend does not keep uprepparttar 150187 repayments on that car, or other, loan,repparttar 150188 lender will seekrepparttar 150189 best way to getrepparttar 150190 money. Their first port of call? You!

If you are asked to co-sign a loan application, here are a few points for you to take into account. Stop and think about them. Ignoring them could lead you to lose a lot of money yourself, and possibly fall out with your friend.

1. Your Friend Is Probably A High Credit Risk

If someone is asking you to co-sign a loan, that means thatrepparttar 150191 lender is unwilling to take a risk on them on their own. This means that their past credit performance has been so bad thatrepparttar 150192 lender doesn’t believe your friend will pay backrepparttar 150193 loan. Do you want to berepparttar 150194 fall guy;repparttar 150195 one who carriesrepparttar 150196 risk? You are not a professional lender, and your judgement may be impaired because this is a friend.

2. Impact On Your Credit Report

You have probably worked hard and responsibly to keep your credit report clean. Your friend would benefit from that if you co-signrepparttar 150197 loan, but did you know that if your friend becomes delinquent with his payments, it could affect your credit report? All your good work downrepparttar 150198 drain because of your trying to help a friend.

Cont'd on page 2 ==> © 2005
Terms of Use