(This is the second blog for retirement, it focuses on those who have just begun to save for retirement.)
A neighbor might tell you to save more, a Good Neighbor helps you develop a plan.
Thought Starters if you are already saving
What kind of retirement am I hoping to have?
What do I want to do?
Where do I want to live?
How do I get there?
Am I on track?
What are my best choices for saving for my future?
You’re already saving regularly for your future and are on your way to achieving your retirement goals. Here are some tips to help you stay on track:
Continue Saving for Retirement
Invest in an IRA
If you haven’t already, now is the time to start.
State Farm offers you both traditional and Roth IRA account options. Talk with your State Farm agent about opening an account today.
With an IRA, your money grows tax-deferred, so your earnings are exempt from federal income tax until you begin withdrawing money for retirement.1
You can contribute up to $5,000 a year to your IRA(s), even if you already participate in a retirement program at work.
Visit the IRA Learning Center.
Use Your Employer-Sponsored Retirement Plans
Are you taking advantage of them? Use payroll deductions to invest in your 401(k) or other similar employer-sponsored retirement plans, especially if your employer matches your contributions.
Learn more about Retirement Plans for Businesses.
Periodically Re-Calculate your Retirement Goals
You’ve probably been promoted, earning more money than when you started your retirement savings plan. Changing your standard of living can change your retirement income goals.
Re-calculate how much you’ll need for retirement every few years.
As a general rule, a retirement income of 70 to 80 percent of the amount you are living on in the months before you retire can help maintain your standard of living during retirement.
Check to see if you are on track with your retirement savings by visiting www.calculatemyretirement.com.
Simplify Your Life
As you change jobs — or even careers — what should you do with the retirement accounts from your previous employer(s)? One option is to directly roll over assets from your 401(k) and other employer-sponsored plans into a traditional IRA. A direct rollover allows you to:
Avoid paying federal income taxes and penalty taxes1
Continue to grow your savings tax-deferred
Reallocate your funds, as your goals may have changed since you began saving in your previous company’s retirement account.
To begin a direct rollover from your qualifying employer-sponsored plan to a traditional IRA, see your plan administrator from your previous job for the appropriate paperwork.
Other Things to Consider
Safe Guard Your Income
Protect yourself against costly medical expenses and the sudden loss of your income due to an illness, injury, or permanent disability.
Health insurance is important if you or a family member gets sick or injured. This coverage will help protect you from any financial hardships due to expensive medical bills.
Disability insurance helps cover financial responsibilities if you can’t work because of an illness or injury.
If your employer doesn’t offer health or disability insurance, or if you’re self-employed, talk with your State Farm agent about health and disability insurance.
Protect Your Family's Future
Having the proper amount of life insurance can help provide for your family when you’re no longer here to help.
Your State Farm agent can help you determine the amount of coverage that’s right for you and your family.
It’s also important to have a will. In your will you can make proper provisions for your children’s education.
Also, make sure you’ve properly designated your beneficiaries for insurance policies and retirement accounts.
The federal and state governments have created tax-favored accounts so saving for education can reduce your taxes, making saving for college an even easier decision. The availability of such tax or other benefits may be conditioned on meeting certain requirements.
We offer several options for college education savings plans:
College Savings Plan Sponsored by the State of Nebraska Coverdell Education Savings Account
Uniform Gift to Minors Act/Uniform Transfer to Minors Act
Establish a Budget
Do you know where your money is going? Budgeting is the first step toward financial freedom. Use our budget calculator to learn about your spending habits.
Reduce your Debt
Taking on some debt, like a mortgage, is often necessary and may even be a good thing. Carrying consumer debt, however, means that the money you could be investing and growing for your future is being used to finance your debt instead. Working to reduce personal debt by limiting your purchases or refinancing your loans at a lower rate is a good first step for any household to consider.
Establish an Emergency Fund
Many people set aside an amount of money equal to three to six months of their net income (take-home pay) or expenses. Store this money in a separate interest-bearing savings, checking, or money market account to make sure the money is easy to access should you need it.
We are glad to help you create a personal retirement plan that works best for you. For more information visit www.bobbyromander.com
Thursday, July 31, 2008
Wednesday, July 30, 2008
Retirement Made Easy # 1
(This is the first blog of a series for retirement. This first one is for those who are just beginning and then the next blogs will continue through for those who have already started and then to those who are close to retirement.)
A neighbor might tell you to start saving for retirement, a Good Neighbor shows you how.
Thought Starters
Why should I start saving for retirement now?
How do I get started saving for retirement?
How much money will I need to retire?
What are my choices for retirement savings?
Start Simple
The sooner you start saving for your retirement, the more time your money has the potential to grow. Here are some tips to get started:
Pay Yourself First, Regularly, Automatically
Decide how much you can save every month - after paying your monthly bills -- then write the first check to yourself . This little trick ensures you’ve made saving for your future a high priority.
If you can automatically withdraw money from your paycheck or checking account, do it! This way you will never miss the money.
Assess Your Progress
After a few months, if you’re easily meeting your monthly savings goal, try to boost what you’re paying yourself each month.
If you’re struggling to pay your monthly bills, you may want to consider eliminating wasteful spending like eating out or opting for the premium cable or satellite package.
Remember, contributing regularly is the key to saving for retirement!
Determine How Much You Will Need
To maintain your standard of living during retirement, you may need an income of 70 to 80 percent of the amount you’re living on in the months before you retire.
Your retirement income may come from several sources, such as:
401(k)s
Other company retirement plans
Traditional IRA(s)
Roth IRA(s)
Social Security
Other savings and investments
Start Now
Start saving for retirement as early as possible, and try to set aside 10 percent of your income every year for this purpose.
Because you’ve got a long savings horizon, you may be able to ride out market fluctuations so consider higher-risk investments that may provide greater earnings.
To see if you are on track with your retirement savings, visit Calculate My Retirement.
Take Advantage of Your Employer's Retirement Plans
Use Payroll Deductions to Invest in Your 401(k) or other similar employer-sponsored retirement plans, especially if your employer matches your contributions. This helps make regular investing a habit.
No Employer Retirement Plan or Match?
If your employer doesn’t offer a retirement plan or any matching contributions, consider opening an IRA for yourself.
Not Yet Eligible?
Until you’re eligible for an employer match, consider contributing to a Roth IRA. Once you’re eligible, contribute enough to get the maximum employer matching contribution into your 401(k). If you can, continue contributing to your Roth IRA while maxing out your 401(k).
Contribute to an IRA.
With a traditional or Roth IRA your money grows tax-deferred. Your earnings are exempt from federal income tax until you begin withdrawing money for retirement.* You can contribute up to $5,000 a year into your IRA(s) even if you already participate in a retirement program at work although contributions may not be tax deductible.
* Withdrawals made prior to 59½ may be subject to federal income tax and a 10% penalty tax.
Other Things to Consider
Establish a Budget
Do you know where your money is going? Budgeting is the first step towards financial freedom. Use our budget calculator to determine your spending habits.
Establish an Emergency FundSet aside an amount of money equal to three to six months of your net income (take-home pay) or expenses. Store this money in a separate interest-bearing savings, checking, or money market account to make sure the money is easy to access should you need it quickly.
An agent will be glad to help you create a personal retirement plan that works best for you. Find an agent in your area, visit www.bobbyromander.com
A neighbor might tell you to start saving for retirement, a Good Neighbor shows you how.
Thought Starters
Why should I start saving for retirement now?
How do I get started saving for retirement?
How much money will I need to retire?
What are my choices for retirement savings?
Start Simple
The sooner you start saving for your retirement, the more time your money has the potential to grow. Here are some tips to get started:
Pay Yourself First, Regularly, Automatically
Decide how much you can save every month - after paying your monthly bills -- then write the first check to yourself . This little trick ensures you’ve made saving for your future a high priority.
If you can automatically withdraw money from your paycheck or checking account, do it! This way you will never miss the money.
Assess Your Progress
After a few months, if you’re easily meeting your monthly savings goal, try to boost what you’re paying yourself each month.
If you’re struggling to pay your monthly bills, you may want to consider eliminating wasteful spending like eating out or opting for the premium cable or satellite package.
Remember, contributing regularly is the key to saving for retirement!
Determine How Much You Will Need
To maintain your standard of living during retirement, you may need an income of 70 to 80 percent of the amount you’re living on in the months before you retire.
Your retirement income may come from several sources, such as:
401(k)s
Other company retirement plans
Traditional IRA(s)
Roth IRA(s)
Social Security
Other savings and investments
Start Now
Start saving for retirement as early as possible, and try to set aside 10 percent of your income every year for this purpose.
Because you’ve got a long savings horizon, you may be able to ride out market fluctuations so consider higher-risk investments that may provide greater earnings.
To see if you are on track with your retirement savings, visit Calculate My Retirement.
Take Advantage of Your Employer's Retirement Plans
Use Payroll Deductions to Invest in Your 401(k) or other similar employer-sponsored retirement plans, especially if your employer matches your contributions. This helps make regular investing a habit.
No Employer Retirement Plan or Match?
If your employer doesn’t offer a retirement plan or any matching contributions, consider opening an IRA for yourself.
Not Yet Eligible?
Until you’re eligible for an employer match, consider contributing to a Roth IRA. Once you’re eligible, contribute enough to get the maximum employer matching contribution into your 401(k). If you can, continue contributing to your Roth IRA while maxing out your 401(k).
Contribute to an IRA.
With a traditional or Roth IRA your money grows tax-deferred. Your earnings are exempt from federal income tax until you begin withdrawing money for retirement.* You can contribute up to $5,000 a year into your IRA(s) even if you already participate in a retirement program at work although contributions may not be tax deductible.
* Withdrawals made prior to 59½ may be subject to federal income tax and a 10% penalty tax.
Other Things to Consider
Establish a Budget
Do you know where your money is going? Budgeting is the first step towards financial freedom. Use our budget calculator to determine your spending habits.
Establish an Emergency FundSet aside an amount of money equal to three to six months of your net income (take-home pay) or expenses. Store this money in a separate interest-bearing savings, checking, or money market account to make sure the money is easy to access should you need it quickly.
An agent will be glad to help you create a personal retirement plan that works best for you. Find an agent in your area, visit www.bobbyromander.com
Tuesday, July 29, 2008
Health Insurance
Protecting Your Family
Health insurance is important in the event that you, or any member of your family is ever sick or injured.
Having this coverage will protect you from financial hardships. There are many various types of health insurance, so that you can choose the product that best suits your personal situation.
Choose the plan that best fits your individual needs.
Individual Medical Coverage
This is primary medical insurance coverage that is designed for people who don't have this type of coverage through their employer or another group.
Learn More
Prescription Drug (Part D) Plans
Medicare Part D is prescription drug coverage available to those enrolled/eligible for Medicare Part A and/or Part B.
Learn More
Medicare Part C (Medicare Advantage) Coverage
Medicare Part C (otherwise known as Medicare Advantage) is a Medicare health plan available to those enrolled/eligible for Medicare Parts A and B.
Learn More
Medicare Supplement Insurance
This is designed for the senior citizen who participates in Medicare, yet desires additional coverage to help with many of the expenses that Medicare does not pay.
Learn More
Supplemental Medical Insurance*
This is Ideal for supplementing your primary health insurance coverage. It provides you with a pre-determined benefit amount for those extra, unbudgeted expenses that arise.
Unless you tell us otherwise or benefits are assigned according to state law, the benefit is paid directly to you.
You decide how the money is spent.
Benefits may be paid for necessary:
Hospitalization
Accidental Injury
Outpatient Surgery
Extended Care
Intensive Care
For more information see www.bobbyromander.com
Health insurance is important in the event that you, or any member of your family is ever sick or injured.
Having this coverage will protect you from financial hardships. There are many various types of health insurance, so that you can choose the product that best suits your personal situation.
Choose the plan that best fits your individual needs.
Individual Medical Coverage
This is primary medical insurance coverage that is designed for people who don't have this type of coverage through their employer or another group.
Learn More
Prescription Drug (Part D) Plans
Medicare Part D is prescription drug coverage available to those enrolled/eligible for Medicare Part A and/or Part B.
Learn More
Medicare Part C (Medicare Advantage) Coverage
Medicare Part C (otherwise known as Medicare Advantage) is a Medicare health plan available to those enrolled/eligible for Medicare Parts A and B.
Learn More
Medicare Supplement Insurance
This is designed for the senior citizen who participates in Medicare, yet desires additional coverage to help with many of the expenses that Medicare does not pay.
Learn More
Supplemental Medical Insurance*
This is Ideal for supplementing your primary health insurance coverage. It provides you with a pre-determined benefit amount for those extra, unbudgeted expenses that arise.
Unless you tell us otherwise or benefits are assigned according to state law, the benefit is paid directly to you.
You decide how the money is spent.
Benefits may be paid for necessary:
Hospitalization
Accidental Injury
Outpatient Surgery
Extended Care
Intensive Care
For more information see www.bobbyromander.com
Monday, July 28, 2008
How much Car Insurance do I need?
Consider the following three questions with the help of your agent:
1) How high should my liability coverage limits be?
No one can predict exactly how much you would have to pay if you were to cause an accident.
Ask yourself how you would pay for any damages exceeding your coverage limits.
The higher your liability coverage limits are, the more likely your policy will be able to pay all of the damages.
2) How high or low should my collision and comprehensive deductibles be?
Higher deductibles lower your premium but increase the amount you must pay out of your own pocket if a loss occurs.
Ask yourself how much you would be willing and able to pay on short notice in order to save on your premium.
3) Should I carry collision and comprehensive coverage?
You may be required to carry collision or comprehensive coverage if your vehicle is leased or financed.
Once you have paid off your car, and its value decreases, you might consider dropping these coverages to save money on premiums.
Consider, though, whether the savings would be enough to offset the risk of having to pay the entire cost of repairing or replacing the vehicle.
For more information see www.bobbyromander.com
1) How high should my liability coverage limits be?
No one can predict exactly how much you would have to pay if you were to cause an accident.
Ask yourself how you would pay for any damages exceeding your coverage limits.
The higher your liability coverage limits are, the more likely your policy will be able to pay all of the damages.
2) How high or low should my collision and comprehensive deductibles be?
Higher deductibles lower your premium but increase the amount you must pay out of your own pocket if a loss occurs.
Ask yourself how much you would be willing and able to pay on short notice in order to save on your premium.
3) Should I carry collision and comprehensive coverage?
You may be required to carry collision or comprehensive coverage if your vehicle is leased or financed.
Once you have paid off your car, and its value decreases, you might consider dropping these coverages to save money on premiums.
Consider, though, whether the savings would be enough to offset the risk of having to pay the entire cost of repairing or replacing the vehicle.
For more information see www.bobbyromander.com
Friday, July 25, 2008
Most Frequently Stolen Cars in USA
Most Frequently Stolen Cars
According to the National Insurance Crime Bureau (NICB®), in 2006, 1,192,809 motor vehicles were reported stolen which is 42,417 fewer than in 2005. NICB® VINCheckSM
The NICB has compiled a list of the 10 vehicles most frequently reported stolen in the U.S. in 2006.
1.
1995 Honda Civic
2.
1991 Honda Accord
3.
1989 Toyota Camry
4.
1997 Ford F150 Series
5.
2005 Dodge Ram Pickup
6.
1994 Chevrolet Full Size C/K 1500 Pickup
7.
1994 Nissan Sentra
8.
1994 Dodge Caravan
9.
1994 Saturn SL
10.
1990 Acura Integra
What Are the Most Stolen Vehicles in Your State?
Click on link below to search your state.
http://www.statefarm.com/insurance/auto_insurance/grndthft.asp
According to the National Insurance Crime Bureau (NICB®), in 2006, 1,192,809 motor vehicles were reported stolen which is 42,417 fewer than in 2005. NICB® VINCheckSM
The NICB has compiled a list of the 10 vehicles most frequently reported stolen in the U.S. in 2006.
1.
1995 Honda Civic
2.
1991 Honda Accord
3.
1989 Toyota Camry
4.
1997 Ford F150 Series
5.
2005 Dodge Ram Pickup
6.
1994 Chevrolet Full Size C/K 1500 Pickup
7.
1994 Nissan Sentra
8.
1994 Dodge Caravan
9.
1994 Saturn SL
10.
1990 Acura Integra
What Are the Most Stolen Vehicles in Your State?
Click on link below to search your state.
http://www.statefarm.com/insurance/auto_insurance/grndthft.asp
Thursday, July 24, 2008
How To Build Credit
What is a credit report?
A Consumer Credit Report is a report of information maintained by a credit bureau. The report will have information such as your name, address, social security number, and credit payment history. Credit grantors, such as banks, may report positive or negative credit payment information to the credit bureau. Utilities, such as the telephone and power companies, may also report your payment history. Credit grantors may review this information any time you apply for a loan, including a credit card, to use in determining whether they will lend you money.
Why is building a good credit history important?
Establishing a positive credit history makes it possible for you to obtain loans for items such as a car or a home in the future. Your credit record also may impact the interest rate you pay and the amount of money a lender is willing to offer you. It may also be reviewed when you rent an apartment. So it is important to pay your bills on time and keep the amount of debt you incur at a manageable amount.
How do I choose a credit card?
Choosing a credit card is a big decision. It is important to know the terms and conditions associated with the credit card. You should understand a credit card's features such as annual fees, Annual Percentage Rates (APR), and repayment requirements to make an informed decision about the card best suited for your needs. If you have any questions about the features of the Student Visa Credit Card, just call 1-877-SF4-BANK / 1-877-734-2265 to speak with a Customer Service Representative.
How can I establish good credit to prepare for the future?
To establish good credit, you should first pay your bills on time. Second, it is important to not have too much outstanding credit and to only borrow what you can afford to repay. If your credit history isn't established or you have very little credit history established, you should consider building one.
You can start by applying for a Student Visa Credit Card. If you're having difficulty opening a credit card account, ask a family member or guardian to cosign your application.
A Consumer Credit Report is a report of information maintained by a credit bureau. The report will have information such as your name, address, social security number, and credit payment history. Credit grantors, such as banks, may report positive or negative credit payment information to the credit bureau. Utilities, such as the telephone and power companies, may also report your payment history. Credit grantors may review this information any time you apply for a loan, including a credit card, to use in determining whether they will lend you money.
Why is building a good credit history important?
Establishing a positive credit history makes it possible for you to obtain loans for items such as a car or a home in the future. Your credit record also may impact the interest rate you pay and the amount of money a lender is willing to offer you. It may also be reviewed when you rent an apartment. So it is important to pay your bills on time and keep the amount of debt you incur at a manageable amount.
How do I choose a credit card?
Choosing a credit card is a big decision. It is important to know the terms and conditions associated with the credit card. You should understand a credit card's features such as annual fees, Annual Percentage Rates (APR), and repayment requirements to make an informed decision about the card best suited for your needs. If you have any questions about the features of the Student Visa Credit Card, just call 1-877-SF4-BANK / 1-877-734-2265 to speak with a Customer Service Representative.
How can I establish good credit to prepare for the future?
To establish good credit, you should first pay your bills on time. Second, it is important to not have too much outstanding credit and to only borrow what you can afford to repay. If your credit history isn't established or you have very little credit history established, you should consider building one.
You can start by applying for a Student Visa Credit Card. If you're having difficulty opening a credit card account, ask a family member or guardian to cosign your application.
Wednesday, July 23, 2008
Free Financial Calculators and other financial tools
Below you will find over 60 free financial calculators and other tools to help you make smart purchases and better financial desicions.
Auto Purchase
Car Loan Calculator
Irregular Payment Calculator
Should I lease or purchase a vehicle? Should I lease or purchase a vehicle?
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Should I finance or pay cash? Should I finance or pay cash?
-->
How much will my vehicle payments be? How much will my vehicle payments be?
-->
Which vehicle loan is better? Which vehicle loan is better?
-->
What term of loan should I choose? What term of loan should I choose?
-->
Should I use a home equity loan instead of an auto loan? Should I use a home equity loan instead of an auto loan?
-->
Which is better: a rebate or special dealer financing? Which is better: a rebate or special dealer financing?
-->
How long should I keep a car? How long should I keep a car?
-->
What car can I afford? What car can I afford?
-->
Budgeting
How much am I spending How much am I spending
-->
Should I pay off debt or invest in savings? Should I pay off debt or invest in savings?
-->
What will it take to pay off my balance? What will it take to pay off my balance?
-->
How much should I set aside for emergencies? How much should I set aside for emergencies?
-->
How much will it cost to raise a child? How much will it cost to raise a child?
-->
What's it worth to reduce my spending? What's it worth to reduce my spending?
-->
Should my spouse work too? Should my spouse work too?
-->
Insurance
Life Insurance Needs Calculator
Retirement
Calculate My Retirement
Traditional vs. Roth IRA Calculator
IRA Conversion
How much will Social Security provide? How much will Social Security provide?
-->
Required Minimum Distributions Calculator
Retirement calculator - compare retirement plans
Tax-sheltered annuity maximum annual contribution
How long will my retirement savings last?
Mortgage
Calculators
Savings
Calculate and Compare Savings Plans
CD Laddering Strategy
What will my CD be worth?
HSA Contribution Calculator 2008
How much will my savings be worth? How much will my savings be worth?
-->
What will it take to save for a vehicle, home, etc.? What will it take to save for a vehicle, home, etc.?
-->
How much of a difference will the rate make? How much of a difference will the rate make?
-->
How much - at what rate, when? How much - at what rate, when?
-->
Which is better: cash or payments? Which is better: cash or payments?
-->
How will taxes and inflation affect my savings? How will taxes and inflation affect my savings?
-->
Estate Planning
Estate Tax Calculator
2008 Archer MSA Maximum Contribution Calculator
2007 Archer MSA Maximum Contribution Calculator
Cash Needs Calculator
Paying for College
Price of a college degree
What will it take to save for a college education? What will it take to save for a college education?
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UGMA and UTMA Accounts
Student Loans
Qualifying for student aid
Education Tax Credits
Education Savings Bonds
Other IRAs and 401(k) Plans
Your Benefits
Using your retirement plan
Benefits of compounding
Using a cafeteria plan
Types of retirement plans
Dependent care benefits
Education benefits
Employee assistance plans
Stock options plans
Health insurance benefits
Maintaining your benefits
Life & disability insurance
Your Paycheck
How does my 401(k) affect my take-home pay?
How much is my take home pay as a salaried employee?
How much is my take home pay as an hourly employee?
How much of my bonus do I keep after income taxes?
How much are my employee stock options worth today?
What is my take-home pay if I also earn tip income?
Auto Purchase
Car Loan Calculator
Irregular Payment Calculator
Should I lease or purchase a vehicle? Should I lease or purchase a vehicle?
-->
Should I finance or pay cash? Should I finance or pay cash?
-->
How much will my vehicle payments be? How much will my vehicle payments be?
-->
Which vehicle loan is better? Which vehicle loan is better?
-->
What term of loan should I choose? What term of loan should I choose?
-->
Should I use a home equity loan instead of an auto loan? Should I use a home equity loan instead of an auto loan?
-->
Which is better: a rebate or special dealer financing? Which is better: a rebate or special dealer financing?
-->
How long should I keep a car? How long should I keep a car?
-->
What car can I afford? What car can I afford?
-->
Budgeting
How much am I spending How much am I spending
-->
Should I pay off debt or invest in savings? Should I pay off debt or invest in savings?
-->
What will it take to pay off my balance? What will it take to pay off my balance?
-->
How much should I set aside for emergencies? How much should I set aside for emergencies?
-->
How much will it cost to raise a child? How much will it cost to raise a child?
-->
What's it worth to reduce my spending? What's it worth to reduce my spending?
-->
Should my spouse work too? Should my spouse work too?
-->
Insurance
Life Insurance Needs Calculator
Retirement
Calculate My Retirement
Traditional vs. Roth IRA Calculator
IRA Conversion
How much will Social Security provide? How much will Social Security provide?
-->
Required Minimum Distributions Calculator
Retirement calculator - compare retirement plans
Tax-sheltered annuity maximum annual contribution
How long will my retirement savings last?
Mortgage
Calculators
Savings
Calculate and Compare Savings Plans
CD Laddering Strategy
What will my CD be worth?
HSA Contribution Calculator 2008
How much will my savings be worth? How much will my savings be worth?
-->
What will it take to save for a vehicle, home, etc.? What will it take to save for a vehicle, home, etc.?
-->
How much of a difference will the rate make? How much of a difference will the rate make?
-->
How much - at what rate, when? How much - at what rate, when?
-->
Which is better: cash or payments? Which is better: cash or payments?
-->
How will taxes and inflation affect my savings? How will taxes and inflation affect my savings?
-->
Estate Planning
Estate Tax Calculator
2008 Archer MSA Maximum Contribution Calculator
2007 Archer MSA Maximum Contribution Calculator
Cash Needs Calculator
Paying for College
Price of a college degree
What will it take to save for a college education? What will it take to save for a college education?
-->
UGMA and UTMA Accounts
Student Loans
Qualifying for student aid
Education Tax Credits
Education Savings Bonds
Other IRAs and 401(k) Plans
Your Benefits
Using your retirement plan
Benefits of compounding
Using a cafeteria plan
Types of retirement plans
Dependent care benefits
Education benefits
Employee assistance plans
Stock options plans
Health insurance benefits
Maintaining your benefits
Life & disability insurance
Your Paycheck
How does my 401(k) affect my take-home pay?
How much is my take home pay as a salaried employee?
How much is my take home pay as an hourly employee?
How much of my bonus do I keep after income taxes?
How much are my employee stock options worth today?
What is my take-home pay if I also earn tip income?
Tuesday, July 22, 2008
Life Insurance
It's never too late or too early to think about protecting your family's financial future.
Life insurance is protection against financial loss resulting from death. It is an insurance company's promise to pay your beneficiary a specific amount of money when you die in exchange for timely payment of premiums.
Why do I need life insurance?
Although you may not think about it, your ability to earn income is a significant asset and life insurance helps replace lost income in the event of your premature death. Here are some reasons people buy life insurance.
The death benefit may be used:
To replace income the family would need to maintain their standard of living after the death of a wage earner.
To pay off a mortgage loan and other personal and business debts or to create a rent fund.
To create a fund for children's education.
To pay final expenses, such as funeral costs and taxes.
To create a family emergency fund or a fund for a family member with special needs.
How much life insurance do I need?
This free Life Insurance Needs Calculator provides a quick way to get an estimate of the cash needs you may have at death. Cash needs that exceed your available assets can be covered by life insurance.
Life insurance is protection against financial loss resulting from death. It is an insurance company's promise to pay your beneficiary a specific amount of money when you die in exchange for timely payment of premiums.
Why do I need life insurance?
Although you may not think about it, your ability to earn income is a significant asset and life insurance helps replace lost income in the event of your premature death. Here are some reasons people buy life insurance.
The death benefit may be used:
To replace income the family would need to maintain their standard of living after the death of a wage earner.
To pay off a mortgage loan and other personal and business debts or to create a rent fund.
To create a fund for children's education.
To pay final expenses, such as funeral costs and taxes.
To create a family emergency fund or a fund for a family member with special needs.
How much life insurance do I need?
This free Life Insurance Needs Calculator provides a quick way to get an estimate of the cash needs you may have at death. Cash needs that exceed your available assets can be covered by life insurance.
Monday, July 21, 2008
Home Buying Tips
Don't go into your home purchase unprepared; to do so can be both disastrous and expensive. Spend some time here and get the tools you need.
Do a little homework
You're already on the right track by reading this. Keep it up by gathering information about recent home sales prices, market trends, houses on the market and neighborhood statistics. Much of this is available on the Internet.
Make a list
Use our house hunting checklist to start a wish list of those features you need vs. those you want in your family's new home. Use our home comparison chart to eliminate the frustration of forgetting why you liked or disliked a home.
Evaluate a real estate agent
You can search for a house on your own, but there are many advantages to using a real estate agent. Find one that will work with you to find that perfect house.
Get pre-qualified for a mortgage
Rather than guessing or estimating how much you can afford to spend, ask for an assessment and a letter stating how much you're qualified to borrow. By getting your financial house in order, you will save time, aggravation and heartache.
Side-by-side comparison
A scorecard to compare homes is a great tool to use after you have looked at several houses.
Relax
Maintain your perspective and your cool. You may find the house of your dreams on the first day or the 30th. Remember your goal is to find the right home for your family.
Do a little homework
You're already on the right track by reading this. Keep it up by gathering information about recent home sales prices, market trends, houses on the market and neighborhood statistics. Much of this is available on the Internet.
Make a list
Use our house hunting checklist to start a wish list of those features you need vs. those you want in your family's new home. Use our home comparison chart to eliminate the frustration of forgetting why you liked or disliked a home.
Evaluate a real estate agent
You can search for a house on your own, but there are many advantages to using a real estate agent. Find one that will work with you to find that perfect house.
Get pre-qualified for a mortgage
Rather than guessing or estimating how much you can afford to spend, ask for an assessment and a letter stating how much you're qualified to borrow. By getting your financial house in order, you will save time, aggravation and heartache.
Side-by-side comparison
A scorecard to compare homes is a great tool to use after you have looked at several houses.
Relax
Maintain your perspective and your cool. You may find the house of your dreams on the first day or the 30th. Remember your goal is to find the right home for your family.
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