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technorati tags:best+places+to+retire
The easiest retirement plan ever
I like the title of this one so here’s a summary of this article for you:
I know it can be confusing, having first to choose from among all the retirement plans, and then having to choose the investments that go into those plans.
But relax — the Fool is here to help.
Basic retirement planning is actually pretty simple.
And I’ll show you how simple in this very article.
I promise to tell you everything you need to know to get on the right path, as long as you promise to take action and put your plan in motion.
Step 1: Accept your boss’s help If you have a retirement plan at work, sign up.
The money will go directly from your paycheck to the account before you can get your hands on it.
All contributions will lower your taxable income — in other words, they will lower your tax bill.
Plus, your employer might pay you to participate, in the form of matching your contributions; you put in $1, the employer puts in $0.50 — or whatever formula your employer uses.
How much should you contribute to the plan?
At least enough so that you can take full advantage of an employer match.
After that, you might consider moving on to the next step.
Step 2: Contribute to a Roth IRA With a Roth IRA, you’re giving up a tax deduction today (which is what you get with contributions to a traditional IRA or employer plan) in order to never have to pay taxes on the earnings or withdrawals (as long as you play by the rules).
It is — it’s one of the best deals going, actually, as long as you’re eligible.
(Single taxpayers must earn less than $110,000, and married folks must earn less than $160,000.)
You can read this article for more on why I think the Roth rules, and visit our IRA Center to learn about opening an account.
Step 3: Choose a target retirement fund Every month in my Rule Your Retirement newsletter, I have the pleasure of interviewing some of the best and brightest of the investing/financial planning world.
In a past issue, I had a conversation with Newsweek columnist Jane Bryant Quinn, author of the excellent book Smart and Simple Financial Strategies for Busy People.
“I think that they are the first really important product for individuals to come along since index funds.
The reason I like them is they are basically one-decision funds.
If you go to professional advisors, what will they tell you?
They will tell you to allocate your assets, and they are going to give you more stocks when you are younger.
As you reach middle age, they are going to modify that a little, and when you retire, you will have a more moderate portfolio.
And then when you are 80, it will be mostly an income fund.
They [advisors] will charge a hefty fee to do this for you.
The target retirement fund does it for you automatically.
It is a wonderful, professional product that gives you appropriate asset allocation for your age, and it rebalances, which folks never do with their own investments.
Even if they understand it, they never do it because it is hard.”
I’ll second all those sentiments, and I’ll also emphasize the “allocate your assets” and “rebalances” parts.
Unless you’re a master stock picker, you need a broadly diversified portfolio, and you need to rebalance regularly — selling what has done well, buying what might be ready for its turn.
Don’t you wish you’d rebalanced in 1999?
Target retirement funds do it all for you.
Now, many people — myself included — will argue that doing the allocation yourself can lead to better returns.
But generally, these investments are a great place to start.
Nowadays, they’re offered in many employer plans and by most of the low-cost mutual fund companies, including Vanguard, T. Rowe Price (Nasdaq: TROW), and Fidelity.
Step 4: Learn more Once you have implemented this plan, take the time to learn more.
Even learn about tools that can help you calculate whether your retirement plan is on track.
(My Rule Your Retirement service can help you do all of those things — take a 30-day free trial and see for yourself.)
But don’t wait until you know everything to do something.
Start saving now — and if you’re already saving, find ways to save more.
There’s no better recipe for a solid retirement plan.
| The Easiest Retirement Plan Ever MSNBC - Basic retirement planning is actually pretty simple. And I’ll show you how simple in this very article. I promise to tell you everything you need to know to … |
technorati tags:retirement+plan, retirement+planning
Yahoo is banking that Internet users want online tools to manage their budgets, retirement, college plans, taxes, debts, investments and more personal finance matters.
Internet giant Yahoo has offered information and services aimed at investors for years, but now the taken the wraps off its new Yahoo Personal Finance Web site, aiming to provide everyday users with online financial tools and information to help them better manage many aspects of their money and investments.
Rather than attempting to offer an online ledger application, in which users would directly monitor accounts and transactions, Yahoo Personal Finance aims to provide a wealth of information, advice, guides, calculators, and other tools designed to help users get a hand on their money without getting into risky privacy territory.
“The goal of Yahoo Finance has always been to help our users make informed financial decisions, and now we’re able to do that across every aspect of their financial lives,” said Peggy White, Yahoo Finance’s general manager, in a statement.
“Not all of our users manage an investment portfolio, but we all manage a checkbook.
This presents a huge opportunity for Yahoo Finance to expand beyond our core investing-focused offerings.”
Features in Yahoo Personal Finance include more than five dozen calculators designed to help users get a handle on common scenarios like retirement planning and loan payments, as well as advice and guides covering topics from college planning, having children, tax planning, insurance, real estate, and more.
Yahoo Personal Finance has partnered with twenty-five content providers (including CNNMoney.com, Consumer Reports, The Motley Fool, Smart Money, and The Wall Street Journal) to provide top-notch material, and will also carry exclusive advice columns from thirteen financial exports, including a career advice column The Brazen Careerist by Penelope Trunk.
Of course, Yahoo wouldn’t be Yahoo if it didn’t tout the online advertising opportunities afforded by a personal finance site.
Their message to advertisers: if you want to reach consumers as they’re making important life decisions, buy an ad on Yahoo Personal Finance!
Yahoo Launches Personal Finance Site (DesignTechnica)
Yahoo is banking that Internet users want online tools to manage their budgets, retirement, college plans, taxes, debts, investments and more personal finance matters.
technorati tags:yahoo+personal+finance+site, yahoo+retirement+calculators, yahoo+college+planning
The following countries are considered as among the top tourist destinations and the most loved retirement havens by expatriates—Italy, Morocco, Greece, Japan, Mexico, France and Austria.These are the undeniably the best places to retire, as proven by the high number of tourists and retirees who frequent them, regardless of the cost of living and its distance from United States and other factors. Their natural beauty, rich culture and the warmth of their people are enough to invite foreigners to settle here for good and tocall it their home.
In Latin America, Mexico tops the list of the best places to retire. It is a land of many contrasting qualities and features such as its deserts, lush forests, snow-capped mountains and tropical lowlands. While many towns and cities in Mexico enjoy the amenities of highly developed countries, some still lack traces of modernity. Mexicans themselves are product of Christian and Indian traditions. But it is this sharp contrasting attributes of Mexico that makes it unique and inviting to a lot of tourists and retirees who want the best places to retire.
The largest country in Western Europe, France, also belongs to the list of the best places to retire. France is undoubtedly beautiful and very romantic—with its various world-known landmarks including the Eiffel Tower in Paris. Away from the city, you can enjoy the natural sceneries. The valley at the foot of Mount Blanc, the highest mountain in Western Europe, is one of the most favorite places to visit in France. It offers a majestic view of the Alps and the lush forests and fields near the mountain.
Last but not the least of the best places to retire is Austria. This place is famous for its “Christmas” atmosphere for it has comfortably cold climate. Tourists from places with warm climate would definitely enjoy the weather here and consider living here for good. But aside from this, Austria is endowed with natural beauty that is quite enticing and thus, many tourists come to visit and live in this country.
technorati tags:best+places+to+retire+cheaply, best+places+to+live+cheaply
