Retirement Abroad: Affordable Retirement Living
Affordable Retirement Living
Have you thought about retirement? If not, why not?
Perhaps you’ve already retired or are approaching/planning retirement? Either the way, everybody thinks about it sooner or later. There is no such thing as ‘too soon’ when it comes to funding retirement and saving money. The key is to know how much you have to spend and find a location that’s affordable within your budget.
Seeing the World on a Budget
One goal many retirees entertain is to see the world after they retire. But often they don’t consider how affordable it really is to move/retire abroad and truly experience life as a resident rather than a tourist. The aim is to have all your debts and/or mortgages cleared and enough money to move to the place of their choice where they find comfort and relaxation. This kind of decision is not an easy one and entails many problems/obstacles. But once you consider the idea you may realize that it is more do-able than you previously thought.
The Major Obstacle- Family
For example many couples the major consideration is family. Of course as a family member you want to see your newly retired parents/grandparents retire comfortably and enjoy the later stages of their lives. Yet naturally the decision to split the family up can be a big one for both parties. Moving away from your family is a sizable decision that’s dealt with in varying ways from family to family. But often it is possible to move from a higher cost country to a lower cost and drastically improve your standard of retirement. And who doesn’t want their parents to have a more comfortable retirement.
Today it is quite possible to fund a comfortable affordable retirement in many places in the world where your Pension or Social Security will easily cover your expenses, including Ecuador, Thailand, and Mexico plus many more for less than $1500/month or about what Social Security pays for one retiree. If both members of the couple are receiving Social Security they can live well indeed and even save enough to make frequent visits back to the states to visit the grandkids. (Or fund trips to visit you).
Financial Considerations of Retirement Living
However there are other factors in retiring abroad, Continue reading
Making Smart Decisions When You Need Extra Money
Need Extra Money?
When you’re facing financial troubles, there are basically two solutions open to you.
1) You can find a way to reduce expenses
or
2) You can find a way to make more money.
There are plenty of tips for lowering costs every month, but bringing in extra money can be a little harder.
Here are the best places to get some extra cash, as well as a few ideas that aren’t nearly as attractive.
How To Save Money On Your Home Owners Insurance
By Stefan Mustieles
Many of us are looking for ways to shave off a few vital pounds (or dollars) from our monthly bills, without sacrificing on quality. This is particularly the case with recurring expenses such as buildings insurance and contents cover.
Buildings insurance covers the fabric of your home. If, for example, a tree fell and crashed through your roof, you would claim on this policy to pay for repairs.
Contents insurance, as the name suggests, covers you against damage or theft of items within your home, such as furniture, white goods, electronic devices, clothes. It can also cover things outside of the home, in the garden or shed, or even items that you might have with you when away from your property.
Save on Automobile Insurance
Whenever you go shopping, you probably look for the best deal. The same can be true for automobile insurance. Research and careful decision making, can pay off in finding the best deal especially when it comes to searching for automobile auto insurance quotes.
Using an insurance agent (either independent, or with a company) is the traditional way for getting an insurance quote. You can call them, or sometimes an independent agent will visit your home. In either case you are guided through the process of buying automobile insurance. The agent may look at your credit score, review your driving record, and ask what kind of vehicle(s) you are driving. The next step is to decide on the coverages that you need for your vehicle. You will also choose the deductible. This is the portion of a claim that is not covered by the insurance provider. It is the amount you pay out of pocket before the insurance company will cover any expenses.
The deductible amount is your choice. You can choose a high or low deductible. Coverages and deductible amount are the two most important elements that decide the price of your auto insurance quote. The more coverage you choose, the higher the auto insurance premium will be. Conversely, a high deductible will lower the quoted premium.
There is another way to get Continue reading
Online Calculators Can Help Increase Your Savings
By Alex Summers
We’re all interested in saving as much money as possible. While the best online banks will help you plan properly for retirement or future college tuition expenses through their own services, several other online references will help you find better ways to save your money. A few of those are online calculators including:
Credit Card Repayment Calculator
Many of us a have a few credit cards, and if you are just starting out in your young adult life, there is a good chance that you may have racked up some credit card debt. While we all need a credit card or two to build and maintain our credit, it is very easy for our credit card charges to get out of hand if remained unchecked.
While paying off your balance each month is ideal, if you have a bit of credit card debt and are unable to pay off your balances immediately, figure out the best repayment plan possible so that you minimize the amount of interest that you will pay in the end. If you are already behind… picking a plan that will help you pay off your debt as quickly as possible will help you save a great deal of money over
Why You Should Discuss Finances Before Saying I Do
Getting married is a time of joy for any couple. The thought of living the rest of your life with your best friend is normally consuming during the wedding planning time, and any other additional thoughts are placed on the wedding planning itself. There are reservations to be booked, dresses to be bought, and table settings to be picked. However, during this planning time, very few couples take the time to discuss the future of their finances.
In this day and age it is likely the couple has made joint purchases and financial investments prior to marriage. Even before marriage, the couple should have a firm financial plan in place so that the metaphorical flight does not crash before it even takes off.
To take that point further, even these types of combined finances need to be discussed further when actually taking marriage into consideration. Whether you have already arranged for your living quarters, shared certain finances or not; post marriage financial adjustments are different and can place strain on a relationship if not planned for and discussed. In order to promote the healthiest relationship possible, remember that a firm financial plan can prevent a diversion from what should be the happiest time in the young couples’ life.
Nearly half of all marriages end in divorce, and a majority of couples that go through a divorce blame finances as a predominate reason for any irreconcilable differences they may have had. If you want your marriage and your bank statements to be healthy, discuss your finances prior to the wedding day. Continue reading
The Frugal Guide to Building Wealth
So you want to build up some savings and family wealth? There’s nothing wrong with that. It’s only the love of money that’s the root of all evil. The often misquoted verse is located in 1 Timothy 6:10.
For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows. 1 Tim 6:10
The Contemporary English Version puts it this way:
The love of money causes all kinds of trouble. Some people want money so much that they have given up their faith and caused themselves a lot of pain.
This is actually the theme of many modern movies. As the star chases wealth it results in his own destruction.
But the Bible also admonishes us to provide for our own families and take care of them and God blesses those who use their money wisely.
In this short guide you will get tips for gradually increasing your wealth while living up to your convictions. This is not a get-rich-quick guide, but a method of using wisdom and dedication to create the savings you need to provide for your family.
What’s Your Goal?
First of all, you need a plan for what you will do with the money. Perhaps you are saving to get your first home. Some people save for weddings, college funds for the kids, a retirement account or even a long-postponed family trip. It doesn’t really matter why you want to save, but it’s helpful to have goals in mind as you follow these steps. Continue reading
How To Develop Winning Money Management Skills
by Benard Solomon
Is it true that once you have a certain level of money your future income is guaranteed? Unfortunately, it is not certain. The life stories and habits of the wealthy doesn’t support the popular belief that the more you earn, the rosier your life will become. If a certain level of money were to create life fortunes, lottery winners would remain rich years after hitting the big bucks.
What about great boxers whose fortunes has suddenly nose-dived? Some Hollywood celebrities of yesteryear are currently living in abject penury as a result of lack of money management skills.
You surely don’t wish to remain in the rat race all your life. Robert G. Allen in his book Multiple Streams of Income emphasizes the need to acquire good money management skills as the wealthy people do, so that you can become wealthy and financially free.
Your money habits will determine your financial future. Your money habit is the key factor to your character money- wise and your financial destiny. You will continue to experience long term lack and financial short comings as long as you remain unlearned in the skills of profitable money management.
According to Robert Allen… Continue reading
Bad Financial Advice Abounds
By Tim McMahon, editor
I just recently received a email that made me mad. I get extremely upset when I see bad financial advice being palmed off on an unsuspecting public.
What made me so mad?
It was an email with the subject line: “The answer to getting caught up financially is here.”
Sounds interesting right? Who doesn’t want to get “caught up financially”.
Teaching Your Kids about Money
By Maria Ranier
Money management is an important life-long skill to learn. As parents, it’s your job to teach them the skills that will benefit them as they become adults and learn to manage their own households. Although it may seem like a complicated task – I still have trouble understanding concepts like dividends, compound interest, and capital gains – there are basic skills that you can teach that will lay the foundation for all future financial decisions.
Start Early
The best thing you can do is to start teaching your children early. As soon as they are able to understand the concept of money – as young as toddlerhood – they are able to start learning basic concepts. Of course, lessons should be age appropriate. Simple role-playing games like shopping in a grocery store can be useful enough for very young children. As they grow older, Continue reading
