If you want more control over your 401(K) retirement savings, think about rolling it over into a self-directed IRA. Open a self-directed IRA for your retirement at any financial institution and have them do an electronic transfer so you don't "touch" the money. Then you will have to decide on where to invest your retirement savings - index funds or bond funds. Vanguard has a great low-cost S & P 500 Index Fund for your retirement savings.
Deciding how much to invest for retirement can be tough but www.money.com has a calculator that can help with your financial planning. If you want to talk to someone about financial planning for retirement, you can call 888-FEE-ONLY for a help. If you contribute regularly to a 401(K) or IRA and are thinking about changing your contributions because of the down market, you should continue your current investment strategy. And if you usually put your contributions in a Fidelity Magellan Fund or Janus Fund, these investment fund offer an excellent return over time.
If you have a small business, a Simple IRA might be the right choice for a retirement plan for your employees. You can set up a Simple IRA on your own. First check with a financial institution to see if they offer Simple IRAs. They will offer lots of investment opportunities for your employees.
If you're thinking about buying life insurance, there are several policies to consider including a universal life insurance policy or cash value policy and term life insurance. With a universal life insurance policy, you pay over time and part of the premium goes into a savings plan with little value unless you stick with it for the long run. With term life insurance, you pay a smaller yearly premium for a certain length of time. Because term life insurance costs less, it offers more of an opportunity to save on your own.
In retirement, people tend to no longer stay in one geographic area. If you're doing a job search in the field of geriatrics and aging, states that are becoming magnets for retirement centers include Florida, Nevada, Arizona, New Mexico and Washington state. But you should also be able to find employment working in a retirement center in every major metro area.
If interest rates drop after you've started refinancing proceedings, what are you options? If your lender hasn't dropped your rate, you should shop around for a better deal. Then talk with your refinancing lender and let him know you won't sign unless he can offer a better rate. And be sure to have your interest rate numbers straight before you talk.
To set up a Roth IRA, you open an account with an investment company or bank. The minimum investment depends on where you open your account - it could range from $250 to $1,000. Then since a Roth is just a type of retirement account, you have to invest your money in stocks, bonds or index funds. Or you can keep your Roth in cash.
Today on the Ilyce Glink Show, Ilyce talked about the last rough week in the financial world. New unemployment claims reached the highest level of the past 27 years, while the GDP dropped to the lowest level in 25 years. At the same time the stock market dropped 4.11 percent this week, and all eyes will be turned to see what the market does in the next week. In the Great Depression, the market fell 90 percent. Where will we see the stock market bottom out? Ilyce talks about all this and more as she takes questions from callers on today's Ilyce Glink Show. She also talked about the FREE book deal, available at www.thinkglinkstore.com.
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You can pay off mortgage quickly by arranging bi-weekly payments. This allows you to prepay your mortgage and pay it off sooner. Prepaying your home loan not only allows you to pay off your mortgage more quickly, it allows you to save money.
Is an index fund the best way to invest in a Roth IRA for a teenager? Ilyce says index funds are easy investments to maintain within a Roth IRA. But in order for a teenager to have a Roth IRA, he must have a job so he can invest his earnings, because the retirement account takes after-tax dollars.
