Search results “Saving options for retirement”
How to Retire Early: The Shockingly Simple Math
Enroll in our Personal Finance Masterclass for just $10: https://www.videoschoolonline.com/YTFinance How to retire early - let's break down the steps to early retirement. Take a premium course at http://www.videoschoolonline.com/course-library/ This video shows you how to retire early with shockingly simple math. I've been a personal finance nerd for a while, and the idea of early retirement is really interesting. I'm a huge fan of Mr. Money Mustache who wrote a great article on the shockingly simple math behind early retirement. Since I make videos, I wanted to take his theories and break them down into a digestible video. I hope you enjoy! And like I say in the video, please like and share this video, then leave a comment. What do you think? Is this amazing or crazy? What is your savings rate? What other personal finance questions do you have? I credit a lot of this work/theory to Mr Money Mustache. Read his full article about it here (http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/). Also, check out this cool early retirement calculator (https://networthify.com/calculator/earlyretirement?income=50000&initialBalance=0&expenses=17000&annualPct=5&withdrawalRate=4) Script: Hi, my name is Phil. I’m a video creator and online instructor. I’m also a personal finance nerd. Because of that, I want to create a series of videos that breaks down some of the most mystifying topics that plague our society. In a world where people’s finances are typically locked away and not-talked about, I believe opening up the gates of financial conversation will help everyone live a better and smarter life. In this first video, I want to explain the shockingly simple math behind early retirement - thanks to one of my biggest heroes, Mr Money Mustache. While the ability to retire may seem like a distant and unreachable goal for many, the premise comes down to one thing. You need to invest money so that it earns more money. This could be investing in stocks or bonds, real estate, or any other of investment vehicles. As soon as your investments earn enough money for you to live on each year, you are able to retire. Let’s break it down further to know when you can retire. The most important concept is knowing your savings rate, basically how much you make minus your expenses. If you spend 100% of your income, you will never retire… because you will never be able to invest any money that earns money for retirement. If you spend 0% of your income, you can retire right now… because somehow you are living without needing to make any more money. Between 0% and 100% are a number of savings rates that correlate with the years it will take to retire. For this, let’s assume your annual investment return is 5% (which is conservatively low) and your withdrawal rate is 4%… meaning you spend 4% of your net worth each year. For example, if you have a $1,000,000 net worth, and you live on $40,000. If your savings rate is 10%, you will be able to safely retire after 51.4 years. Safely, meaning you will never run out of money. If your savings rate is 25%, you can retire in 31.9 years. 50%, you can retire in 16.6 years. And if you can somehow save 75% of your income, you can retire in 7.1 years. Now getting to that savings rate might not be easy in our world of societal pressures, keeping up with the Joneses, and bad habits. But you can get closer by making smart decisions, avoiding debt, and living simply. The key take away is… Cutting your spending rate is way more powerful than increasing your income because no matter how much money you make, decreasing your spending will speed up the process. A note, The math behind early retirement works if you are working a minimum wage job or a 7-figure CEO salary. It’s all about the savings rate. So if you want to retire in 10 years, the math tells us that you need to save 66% of your income. Now there is a lot that I didn’t talk about - like how to invest, and how to cut expenses to get to a high savings rate. Those will come in a future video. For now, get excited about the honest truth about retirement (and early retirement at that!)! Let me know what you think in the comments below? Is this exciting or bogus? Until next time… start being money smart. Please subscribe to the channel and leave a comment below! Video School Online: http://www.videoschoolonline.com Courses: http://www.videoschoolonline.com/course-library/ Twitter: http://www.twitter.com/philebiner Facebook: http://www.facebook.com/videoschoolonline
Views: 897211 Video School Online
401(k) and IRA 101 (Investing Basics 3/3, Retirement Basics 1/2)
In this video, you'll learn everything you need to know about retirement accounts such as 401(k)s, 403(b)s, and IRAs! We cover the difference between Roth and Traditional retirement accounts, when to choose an IRA over a 401(k), what happens to your 401(k) when you leave your company, and much more! Investment account recommendations: https://www.moneycoach.io/recommendations/roboadvisors Next video: https://www.moneycoach.io/videos/retirement/2 More of a text based learner? See the transcript and citations here: Investing: http://bit.ly/2fs5Kma Please leave us any feedback here: https://goo.gl/REmdfD
Views: 24655 MoneyCoach
Retirement Plans: Last Week Tonight with John Oliver (HBO)
Saving for retirement means navigating a potential minefield of high fees and bad advice. Billy Eichner and Kristin Chenoweth share some tips. Connect with Last Week Tonight online... Subscribe to the Last Week Tonight YouTube channel for more almost news as it almost happens: www.youtube.com/user/LastWeekTonight Find Last Week Tonight on Facebook like your mom would: http://Facebook.com/LastWeekTonight Follow us on Twitter for news about jokes and jokes about news: http://Twitter.com/LastWeekTonight Visit our official site for all that other stuff at once: http://www.hbo.com/lastweektonight
Views: 9874193 LastWeekTonight
Best Retirement Plans for the Self-Employed
For all the self-employed people out there, I'm with you. How can you save, plan for retirement and invest when you don't have the traditional corporate business structure? Here's my best plan of attack for making the best use of every dime.
Views: 2743 Jeff Rose
4 Types of Retirement Accounts
It’s never too early to start planning for retirement. There are various types of retirement accounts that allow you to start saving for the future your way - so when you retire, you can hopefully keep living the lifestyle you’re used to. Questions or Comments? Have a question or topic you’d like to learn more about? Let us know: Twitter: @ZionsDirectTV Facebook: www.facebook.com/zionsdirect Or leave a comment on one of our videos. Open an Account: Begin investing today by opening a brokerage account or IRA at www.zionsdirect.com Bid in our Auctions: Participate in our fixed-income security auctions with no commissions or mark-ups charged by Zions Direct at www.auctions.zionsdirect.com
Views: 13832 Zions TV
How To Plan For Retirement
"How to Plan for Retirement". A simple guide to help you retire with peace of mind. PST: Hello, its me, Professor KnowItAll... and yes, I'll be giving you the very best tips so you can retire with peace of mind... EXP: Hello Professor, are you now an expert on that topic? PST: Of course... EXP: Oh, OK, so you're all ready for retirement? PST: Of course! I'm ready! EXP: So then, you have money saved? PST: Well, not exactly but I have a plan... I will live with my kids... EXP: Living with your family during retirement can be very gratifying, but surely you don't want to be a burden on them...Did you know that people in the United States, on average, live 20 years after they retire? In general, people need almost 80% of what they earn in order to live comfortably after retiring That's a lot of money, so you'll definitely need a good plan in order to get there. OK, don't panic yet. It's never too late to start or even too early. Let me tell you what you should do so that the next time, you can give people good advice. PST: Sounds good. EXP: Professor, according to the Consumer Action Handbook, the first thing is recognizing the importance of saving for retirement. The three most common options are: One: Pension benefits, offered by some places of employment. Two: Savings and investments, started by you. Three: Social Security, which is the Federal Governments retirement plan. Now, if you're still working, find out if your place of employment offers a pension plan and how it works. Some companies also offer a 401k plan. PST: Four 01 what? I've never heard of that truck, but mine is newer... EXP: I'm not talking about vehicles here, I'm talking about retirement plans in which, if you save, your company will match a percentage of the contributions you make. PST: Oh, that's like free money. EXP: Exactly. Sometimes you impress me, Professor! In order to plan well for retirement, you must consider what types of expenses you'll have, whether you'll work or not, if you'll have additional medical insurance, or if you'll have costly hobbies, like traveling. There are many things to consider, so you may want to consult a financial expert for help. PST: Yikes, I'm feeling dizzy... EXP: Professor, you can also ask for help and get tips from the following organizations: AARP, American Savings Education Council, Department of Labor Securities and Exchange Commission, Social Security Administration PST: Ufff...I'm feeling a little better now. EXP: Professor, this is all about saving not spending... Better yet, let me remind you to visit USA.gov or in Spanish at GobiernoUSA.gov where you can learn more about all of this and other interesting topics for consumers. And remember, you can also order your free "Consumer Action Handbook "...
Views: 44252 USAgov/archive
Retirement Planning For The Self-Employed !
Recent studies show that most self-employed Americans are saving little, if anything, for retirement. Why? Excuses include a lack of steady income, paying off major debt, healthcare, education, and business expenses. But when the future depends on you, making an investment in yourself is worth it. The retirement saving options most preferred by self-employed workers are solo 401(k)s, SEP IRAs and SIMPLE IRAs. The solo or individual 401(k) is like a traditional 401(k), but it’s for sole business proprietors with no employees other than a spouse who works for the business. It permits contributions as both the employee and employer, which means higher limits than many savings plans. In 2014, the employer could save $17,500; or $23,000 if over 50 years old, plus an additional 25% of net income up to a maximum of $52,000; or $57,500 if over 50. A simplified employee pension, or SEP IRA, suits individuals and businesses with employees. A SEP IRA can be opened at just about any bank or brokerage. The business owner can contribute up to 25% of each employee’s income, up to $52,000. When making a contribution, the owner must contribute for every employee. Since employees do not make contributions, the plan is most popular with one-person businesses. Savings incentive match plan for employees, or SIMPLE IRAs, are like SEP IRAs, but the employees can make contributions. The employer must contribute dollar-for-dollar up to 3% of each eligible employee’s contribution, and 2% for those who don’t contribute. In 2014, contribution limits of $12,000 -- $14,500 if over 50 -- and the matching requirement made SIMPLEs best for those with no employees and incomes of less than $45,000. Read more: Retirement Planning For The Self-Employed - Video | Investopedia http://www.investopedia.com/video/play/retirement-planning-selfemployed/#ixzz3tNDhtOTG Follow us: Investopedia on Facebook
Views: 6199 Investopedia
4 Techniques for Increasing Your Retirement Savings
By the time we reach our 60s, most of us have discovered the truth about money. While it certainly can’t buy you happiness, it can buy you options. And, at this point in our lives, freedom is more important than ever. So, today, I want to share 4 tips for saving more money in the years before (and during) retirement. I hope that you find them useful! Come join us for a cup of tea (or coffee) and a chat. And, if you enjoy the show, please tell one friend about us today. Your support means so much to me! Here are today's community questions. What steps have you taken to improve your financial situation recently? What advice would you give to your Sixty and Me sisters who are trying to boost their retirement savings? Please join the conversation and tell one other woman about Sixty and Me today. The more the merrier! Here is the link to the article that I mentioned on today's show. http://sixtyandme.com/4-powerful-ways-to-boost-your-retirement-savings-in-your-60s/
Views: 8443 Sixty and Me
How much you should have saved for retirement by 30.
In an article by NerdWallet they cited a Fidelity study that said at the age of 30 your should have your annual salary saved up for retirement. T. Rowe Price said that you should have half of your salary saved up for retirement by the time you reach 30 years old. Today we will show those retirement plans and break down the total investment contributions by month and year to see if you are on track with your retirement plan. We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments while teaching you all about your money. ---Ready to subscribe--- https://www.youtube.com/jazzwealth?sub_confirmation=1 For more information visit: www.JazzWealth.com --- Instagram @jazzWealth --- Facebook https://www.facebook.com/JazzWealth/ --- Twitter @jazzWealth Business Affairs 📧[email protected]
Views: 11790 Jazz Wealth Managers
How to Set Up a Retirement Savings Account
Watch more How to Manage Your Money videos: http://www.howcast.com/videos/169336-How-to-Set-Up-a-Retirement-Savings-Account It's never too early — or too late — to start saving for your retirement. Step 1: Know your rights Realize that even if you are already contributing to your company's 401(k) plan, you are free to establish an individual retirement account, or IRA, as well. Step 2: Think about a Roth IRA Weigh the advantages of a Roth IRA. Taxes are taken at the get-go so you can withdraw money tax-free in your golden years. You may remove money, penalty-free, before age 59.5 for certain reasons, like buying a home, you may keep your money in it as long as you like, and you may continue paying into it past age 70.5 if you have earned income. Step 3: Consider an IRA Consider a traditional IRA, which lets you defer paying taxes on the money you invest until you start withdrawing it at retirement. You can't contribute to an IRA past your 70th birthday, and you must begin taking distributions six months after that. Tip To qualify for a Roth IRA, your modified adjusted gross income can't exceed a certain amount. Check the Internal Revenue Service website (at "irs.gov":http://irs.gov) for current limits. Step 4: Investigate providers Find an IRA provider to set up your account. Options include banks, brokerage houses, mutual fund companies, credit unions, and insurance companies. Banks and credit unions put money in CDs, insurance companies park your IRA dollars in annuities, and brokerage and mutual fund companies let you pick stocks, bonds, and funds. Step 5: Ask about fees Before picking an IRA provider, ask about fees and commissions. Step 6: Diversify your investments Diversify your investments so that you're mixing stocks (both U.S. and foreign), bonds, real estate, and commodities. Check out the index funds offered at brokerage houses; they offer low-cost diversification. Step 7: Learn about self-directed IRAs If you're financially savvy and want to be a real estate speculator or help finance a new business, consider opening a self-directed IRA, which allows you to grow your retirement fund in nontraditional ways. To open one, search online for "self-directed IRA custodians." Step 8: Make investing automatic Make contributions to your IRA automatic by having them withdrawn from your bank account or paycheck. Step 9: Put in the maximum Put in the maximum allowed every year. You'll thank us later. Did You Know? Thirty-nine percent of Americans have an individual retirement account, according to the American Association for Retired Persons.
Views: 18741 Howcast
It's a Money Thing // Saving for Retirement
Saving for Retirement GRANDMA: Yoo–hoo! Jennifer! JEN: Grandma? GRANDMA: How do you like my new wheels? JEN: Ah, they look… GRANDMA: Dope? JEN: They look expensive. Grandma, I don't know how to say this, but… GRANDMA: What? Out with it! JEN: It's just that you're retired, shouldn't you be not spending a lot of money at this point in your life? GRANDMA: Oh, I see what's going on. You don't think I can afford this! Little do you know, I started saving for retirement when I was your age, and a little savings know-how can go a long way. The most popular options include IRAs, both Traditional and Roth, and then there's 401(k)s. They're basically containers for investments, OK? They grow your money tax-free for your retirement days. Now they all have different limits on your yearly contributions. This one's set up where you work, these at financial institutions. Some have taxes on withdrawals, some have tax-free distributions, and there's pros and cons for each. There is no obvious solution, but let's say you have limited funds. Here's a strategy, a map, a guide, a rule of thumb: crush any credit card debt, build an emergency fund. Then get ahead of the game by getting started while you're young. Step One: JEN: What's so funny? GRANDMA: If you have company match, it's basically free money. So Step One: put in enough to meet your match. Then move on to Step Two with the rest of your cash. I mean your Roth IRA: its withdrawals are tax-free, so you'll wanna top it up before you move to Step Three! If you have money left over, max out your Roth IRA. Then switch back to contributions to your 401(k). JEN: Okay, I get it… But we are talking about my retirement here, and Grandma, that's like decades away. And, as for contributions to my Roth IRA or my 401(k), I've got bills to pay, my student loan and other stuff that's more important today. Can't I just do it later? GRANDMA: Oh, you silly millennial, did you want to still be working when you reach your centennial? JEN: Nope! GRANDMA: Then you gotta attack it, financially back it, and track it. In fact, it affects your tax bracket. The accounts that you use will give you freedom to choose when you want to "Peace out, homies!" on a tropical cruise instead of singing the blues when you're seventy-two and still stuck in a rut and working, paying your dues—but if instead you'd rather be like me, you better take my advice because I'm the "OG." That stands for "Original Granny," sweetheart! Grandma out!
Views: 136 Kalsee Credit Union
WHERE To Invest Money For Retirement & WHY
Where to Invest Your Money [Fool.com: Retirement Center] www.fool.com/retirement/retirement02.htm Repeat after us: "Retirement savings are for retirement." Again. "Retirement savings are for retirement." Why this mantra? Simple: The best place to put your ... How should I invest the money? - Ultimate Guide to Retirement money.cnn.com/retirement/guide/basics...moneymag/index3.htm To build a nest egg large enough to see you through retirement, which may last 30 years or more, you'll need the growth that stocks provide. The stock market ... Planning for Retirement - Money 101, Lesson 13 - Money Magazine money.cnn.com/magazines/moneymag/money101/.../index.htm Money's guide to planning for retirement: Here are the top 10 things you need to ... How should I invest? ... How can I get the most out of my money in retirement? First steps for retirement ... - Virtues of the 401(k) - IRA investment advantages Best Retirement Investments - Money Over 55 - About.com moneyover55.about.com › ... › How to Invest › Retirement Investments If you're searching for information on retirement investments you're probably looking for an investment that will provide income for you. If so, you've come to the ... HowStuffWorks "How to Invest Your Money After Retirement" money.howstuffworks.com/.../retirement.../where-should-you-keep-... How should you invest your money after retirement? Learn how to invest your money after retirement at HowStuffWorks. How to Invest Wisely for Retirement | Nolo.com www.nolo.com › ... › Retirement Planning and Investing 401(k) plans, 403(b) plans, Keoghs, IRAs, and SEP-IRAs allow you to defer income tax on money you put aside for retirement. In addition to investing money that ... Retirement Planning - SmartMoney.com www.smartmoney.com/retirement/planning/ Retirement planning help and advise from the personal finance experts at ... To get a clearer picture of your money, consolidating old workplace accounts to an .... these funds—often billed as the only retirement investment you need—may . How to Invest for Retirement - SmartMoney.com www.smartmoney.com/invest/.../how-to-invest-for-retirement-... May 18, 2011 -- Investing for retirement is more complicated than opening an IRA or maxing out your 401(k). Catch Up on Retirement Savings - Money Into Investments ... - AARP www.aarp.org › Money › Saving & Investing Nov 19, 2012 -- When it comes to saving for retirement, many folks have a lot of catching up to do. But building your next egg isn't a lost cause. Retirement savings, investing and contributions - MSN Money articles.moneycentral.msn.com/RetirementandWills/InvestForRetirem... Saving for retirement. Advice on 401(k)s and other retirement investing choices ... (34 messages). Join the conversation on the Your Money message board ... where to invest money for retirement
Views: 45792 Michael Bayer
Standard Retirement and Savings Investment Strategy
The basis fundamentals when investing for savings and retirement.
Views: 396 TheFinancialInsider
Alberta Primetime   Behind on saving for retirement?
Jim gives his two cents for people who may be late in their retirement planning. What are your options if you are late to the retirement savings game?
Views: 168 Retire Happy
$5500 per year to tax-free Millionaire: Why you need a Roth IRA
This is one of those things I wished I would’ve learned and had done when I was younger - open up a Roth IRA retirement account. And because it saves you from paying taxes on your earnings and profits later on, I’m all about it. So this is what a Roth IRA is and this is why it’s so important to have one! Click “SHOW MORE” to read my full thoughts. Also feel free to add me on Snapchat / Instagram: GPStephan So here’s what it is - and because this confused me when I was younger, I’ll break it down as simple as possible. A Roth IRA is a type of investment account that you can set up where you invest your money today - up to $5500 per year with no immediate tax deductions - and can pull out your profits and earnings tax free when you’re 59.5. That means you pay NO TAX on YEARS of compounded interest and earnings. Your tax free profits just makes you MORE tax free profits. And it snowballs into a LOT of money. This is best done when you’re young for a few reasons…the money you invest in a Roth IRA is done post tax, which means taxes are already taken out of the money that you earn at the time you invest it. So if you make $20,000 from a job, you might be left with only $17,000 after paying taxes…so this $17,000 is now “post tax” money. The reason is best when you’re young is that chances are, you’re not earning a ton of money compared to what you WILL be earning. When you’re earning a lot of money, it’s about reducing what you owe in taxes because the more money you make, the more money you’re generally taxed. When you’re not earning a lot of money, you’re already in a lower tax bracket, so it’s advantageous to take advantage of that and pay the taxes now to invest - because in the future, you’ll hopefully earn a lot more money. Especially if you’re 18-30 and not earning a lot of money, this is PERFECT for you. When you start earning more money, there are other accounts that might make more sense for your situation. So here’s what I would do: If you’re under the age of 18 and have a job that you’re making money with, you can ask your parents to open a Roth IRA account for you. From there, you contribute money you’re making from your job - keep in mind you cannot contribute more than you earn, so if you earn $1000 that year, you can only contribute $1000. If you’re over the age of 18, right after this video is done, just go online and sign up for a Roth IRA. I use Vanguard and they’re awesome, many people use Charles Schwab or Fidelity - just make sure the account has low fees. You can contribute up to $5500 of earned income every year - if you make too much money, you can look into doing a backdoor Roth IRA contribution. I recommend putting in as much as you can afford and forgetting about it. The advantage is that since there’s compounded interest, the sooner you put your money in, on average, the more you’ll have by the time you retire. Is this a boring investment strategy? Yes. But it’s effective. I recommend just doing this on the side with what you can afford, while continuing to invest elsewhere or investing in yourself. Just to give you some ideas, if you invest $1000 per year at 18 and retire at 60, you’ll have $264,000…of that, you only contributed $43,000 over 42 years, meaning you just made $221,000 of tax free money. If you invest $2000 per year at 18, same situation as above, you’ll have invested $86,000 and made $444,000 of tax free money. If you invest the maximum right now of $5500 per year at 18 years old, you’ll have invested $231,000 and made over $1,200,000 in tax free money. If you just do $5500 per year at 18 years old, you can retire a millionaire without doing anything else. This average figure includes inflation, by the way. I hope this video helps and that this sets you up for future financial independence. Add me on Snapchat: GPStephan Add me on Instagram: GPstephan For business inquiries, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 416709 Graham Stephan
Saving for retirement in your 40s with Wilmot George and Rob Carrick
Wilmot George and Rob Carrick discuss retirement saving options in your 40s: • Should you switch from RRSPs to TFSAs? • Will withdrawing from TFSAs in retirement affect your OAS eligibility?
Views: 1077 GetSmarterAboutMoney
Retirement Savings II: How to Grow and Protect Your Nest Egg
***NOTE: Please ignore the chart after 38:34. There was an error in the calculation*** The second part of Moneylife Foundation's event on retirement planning focused on how use a mix of assets to generate retirement corpus and the options available for savers. Often savers make a mistake of investing in wrong products and end up poorer. Watch this video to learn how you can avoid these mistakes and protect your savings. The first part can be accessed here: http://youtu.be/N-9tTfjeOZw
Views: 19227 Moneylife
What's the Best Savings Accounts for Retirement?
Jack Dugan, a Certified Financial Planner™ for Pure Financial Advisors, Inc. in San Diego and Orange County, explains strategic options on how to choose the best savings accounts for retirement. If you live in southern California and would like to schedule a free assessment with one of our CFP® professionals, click here: https://purefinancial.com/lp/free-ass... http://purefinancial.com IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
When should you change your retirement savings plan?
10/18/2017 Webcast: Retirement Planning While it’s important to have a sound retirement savings strategy in place and stick to that plan, there are times when you need to tweak your plan. Here’s why. Important information For more information about Vanguard funds, visit https://vgi.vg/2iZ2m2G to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing. All investing is subject to risk, including the possible loss of money you invest. Be aware that fluctuations in the financial markets and other factors may cause declines in the value of your account. There is no guarantee that any particular asset allocation or mix of funds will meet your investment objectives or provide you with a given level of income. Diversification does not ensure a profit or protect against a loss. This webcast is for educational purposes only. We recommend that you consult a tax or financial advisor about your individual situation. Advice services are provided by Vanguard Advisers, Inc., a registered investment advisor. © 2017 The Vanguard Group, Inc. All rights reserved.
Views: 2395 Vanguard
How to build savings even without an employer retirement plan
While median household income grew more than five percent last year, many Americans still aren't saving enough for their future. Fifty-four percent of workers reported in a recent survey they had less than $25,000 in savings and investments. Only 45 percent said they contributed to the retirement savings plan offered by their employer. CBS News business analyst Jill Schlesinger joins "CBS This Morning" to discuss alternative options like the government's myRA.
Views: 1342 CBS This Morning
401(k): The LIES Behind 401(k) Plan And Saving For Retirement!
401(k): The LIES Behind 401(k) And Saving For Retirement! As you all know, there are thousands of options for anyone who is willing to invest their money. However, today, we're going to talk about 401(k). Is 401(k) a good option? Is it a viable option for those who are seeking a good investment? In what situations should you opt for a 401(k) investment? Watch this video and find out! If you have a question, email me at [email protected] If you liked this video, share, like and, of course, subscribe! Subscribe To My YouTube Channel: http://bit.ly/1zPTNLT Visit Simple Programmer Website: http://simpleprogrammer.com/ Connect with me on social media: Facebook: https://www.facebook.com/SimpleProgrammer Twitter: https://twitter.com/jsonmez Other Links: Sign up for the Simple Programmer Newsletter: http://simpleprogrammer.com/email Simple Programmer blog: http://simpleprogrammer.com/blog Learn how to learn anything quickly: http://10stepstolearn.com Boost your career now: http://devcareerboost.com
Views: 3426 Bulldog Mindset
7 Tax Saving Tips you may not know | How to Save Tax | Lesser Known Tax Saving Options by Yadnya
7 Tax Saving Tips - For most of the people ‘tax savings’ means life insurance, PPF, EPF, Bank FDs and equity-linked savings scheme, among others, that qualify for tax deduction under Section 80C of the Income-Tax Act OR Home Loan Tax saving ways. However, there are many lesser known avenues that offer additional tax breaks to individuals. They are not widely discussed as they involve special situations in life such as having a special dependant, paying rent to parents, Senior citizen parents etc. In this video we will discuss 7 of such hidden and not so popular options which you should consider before filing your tax returns. Find us on Social Media and stay connected: Facebook Page - https://www.facebook.com/YadnyaAcademy Facebook Group - https://goo.gl/y57Qcr Twitter - https://www.twitter.com/InvestYadnya
Retirement saving options
Retirement savings options
Leaving a job can leave you facing difficult decisions about your retirement savings plan. 22News is working for you with what options you have to be financially ready for your future.
Views: 73 WWLP-22News
TSP After Retirement - Thrift Savings Plan After Retirement
What are tsp strategies after retirement – What is a tsp after retirement? 1-800-566-1002 http://www.RetireSharp.com . What are the best types of tsp after retirement and learn how you can avoid the most common mistakes that individuals have made when looking to leverage their tsp after retirement. Considering All Resources When Planning for Retirement When you are busy living your life, you have little time to think about retirement. Your family and personal goals are foremost on your mind. Yet if you do not make time to plan for your retirement, the time to retire can come before you have set plans in place to provide for yourself and your family during your golden years. You may not be able to maintain the kind of lifestyle you would like to have during your retirement if plans are not put in place now. Instead of waiting, follow these simple steps to plan for your retirement now so your retirement years will be a reward for all those years during which you worked so hard. Discover the Plans Your Employer Offers Many employers offer pension plans, 401k, or other retirement plans as part of their employees' benefit packages. If you are unaware about what they offer, ask. If you are currently in the military or have served in the past, you may have a Thrift Savings Plan (TSP) or a military pension that you can access after you retire. Discover Other Retirement Income You May Have If you have money invested in mutual funds or stocks, you may want to derive some of your retirement income from these sources. Your spouse may also furnish part of your retirement income if she or he is still working or will have his or her own retirement income. Learn how you can access these sources of income long before you retire so you have a solid plan in place. Discover What You May Earn from Social Security Benefits To estimate the amount of money you may earn from your Social Security retirement benefits, you can use the calculator on the Social Security Administration website. At the bottom of the webpage, there will be a button. Click the button and follow the directions. After you finish the process, you will receive an estimate. While you are online, you may also fill out a form to request a copy of your Social Security statement, which you may access as many times as you wish. You should, however, check it at least on a yearly basis to make sure that they have an accurate record of your earnings. If they have missed any of your income, act immediately to notify their office of the error. To procrastinate on such an important matter can cause more trouble down the road, particularly if records of the missing income are unavailable after many years. Discover Your Total Estimated Retirement Income Now that you have identified each source of retirement income, calculate the amount of money you should receive from each of those sources. Doing so will help you to estimate whether you will have enough to provide you with the lifestyle you want after retirement. Discover What Level of Income You Will Need To make an accurate estimate of your retirement plan's adequacy, you will need to calculate how much money you will probably need to maintain the retirement lifestyle you want. When you calculate this estimate, you must also factor in the increase in the cost of living that usually occurs over time. Your current expenses, such as housing, transportation, utilities, and food will likely remain the same, with the exception of what you would spend on transportation to and from work. Add in a generous amount for recreation as well. With more time on your hands, you may want to travel more, attend more concerts, or pursue hobbies or charity work. If your projected income will not provide enough money to fund your desired lifestyle, you may want to consider creating another source of retirement income, such as another investment account or another job after you retire. Feel free to subscribe to our YouTube channel and receive instant access on different retirement related topics. Thanks for watching! Related Search terms: tsp after retirement annuities tsp after retirement income tsp after retirement explained tsp after retirement reviews tsp after retirement review What is the best fixed indexed tsp after retirement vs the top immediate income tsp after retirement https://www.youtube.com/watch?v=NfDbKQUfrDs
Views: 8510 retiresharp
Retirement Savings: The Difference Between 401(k) and Roth IRA | Making Cents | NowThis
Here’s how to know which retirement savings plan is right for you. » Subscribe to NowThis: http://go.nowth.is/News_Subscribe When you start a new job, your employer will usually give you two options to save for retirement — a traditional 401(k) and a Roth IRA. The traditional 401(k) takes money out of your paycheck before tax, instead you get taxed when you withdraw money from your retirement account later on. With a traditional 401(k) you risk getting taxed a lot more later down the road when you go to withdraw money vs. paying a lower tax as you make contributions. A Roth IRA works on a post-tax, which means you get taxed as you put money into the account. The upside is that, as your money grows in value over time, it grows tax-free. So, when you go to withdraw money, you don’t pay an additional tax. The downside is that you pay taxes upfront and there is a cap on how much you can contribute in a year. People under the age of 50 can contribute up to $5,500 in 2017 and 2018. No matter what, it’s always a good idea to check with your employer and find out what retirement options they offer, because some companies do offer a default retirement plan. We all should be saving for our retirement, so make sure you do your research and pick the plan that will be more beneficial for you. Connect with NowThis » Like us on Facebook: http://go.nowth.is/News_Facebook » Tweet us on Twitter: http://go.nowth.is/News_Twitter » Follow us on Instagram: http://go.nowth.is/News_Instagram » Find us on Snapchat Discover: http://go.nowth.is/News_Snapchat NowThis is your premier news outlet providing you with all the videos you need to stay up to date on all the latest in trending news. From entertainment to politics, to viral videos and breaking news stories, we’re delivering all you need to know straight to your social feeds. We live where you live. http://www.youtube.com/nowthisnews @nowthisnews
Views: 926 NowThis News
How To Use HSA As A 'LoopHole' To Save For Retirement - HSA As A Retirement Strategy
How To Use HSA As A 'LoopHole' To Save For Retirement - HSA As A Retirement Strategy About this video: I discuss the use of your HSA account as loophole to save for retirement. I discuss the steps to converting your health insurance account to a retirement saving plan. 1. Self fund current medical expenses 2. Max out your HSA contribution 3. Invest for long-term 👉Support me on Patreon https://goo.gl/ey6XWw 👉Tell People what you are doing to Debt. Order Your T-shirt Today - https://goo.gl/NK16P9 👉Download Budget Template - https://goo.gl/6vDnkj 📍I'm an Influencer with Amazon https://goo.gl/xrKki1 📍Join the Plenteouz Community here http://www.yt.vu/+plenteouz ✔ Products and services I love and recommend: 📍Get Free $20 with Personal Capital 🖱 https://goo.gl/XVaeNV 📍 Get up to $200 Free with CapitalOne 360 https://goo.gl/djUoFx 📍 Get $5 with StockPile Investment App: https://goo.gl/QSEkMo 📍Get $20+ with Robinhood Investment App: https://goo.gl/Rs9uUA 📍Side Hustle with Uber: https://goo.gl/JpXRsK 📍Host your blog with HostGator: https://goo.gl/tZxAXK 📍I use Tubebuddy to improve my channel: https://goo.gl/ZTFUad 📍Create your website or logo on Fiverr: https://goo.gl/4h3WJW ✔ 3 MUST READ 📘 FOR BEGINNERS 📕 The Total Money Makeover http://amzn.to/2yfrni4 📙 Smart Couples Finish Rich http://amzn.to/2gaPPuO 📒 You're Broke Because You Want To be http://amzn.to/2gtY4Pc 📗 How To Keep The Creditors From Coming To Your Home - Randy Morrison 🖱 http://amzn.to/2zeMmA7 📍QUESTIONS Have a question about being debt free, Personal Finance, Career, reinventing yourself, or Anything Else? Post in the comments section of this video! 📍 Where To Follow And Listen To Mr. V: Instagram: @mrv_senior Twitter: @mrv_senior Facebook: https://www.facebook.com/plenteouz Website: https://www.plenteouz.com/ Based in Minneapolis #twincities Mr. V ------------DISCLAIMER------------ This video and description contain affiliate links, which means that if you click on one of the product links, We'll receive a little commission. This helps support the channel and allows us to continue to make videos like this. We appreciate your support!
Views: 7112 Plenteouz of Money
Best Retirement Plans for Small Business Owners (GoodFinancialCents.com)
http://www.goodfinancialcents.com/best-retirement-plan-for-small-businesses/ Are you a business owner that is finally starting to see some profits? You have been slugging away for several years and now you are finally in the black and you want to start thinking about retirement. You know that you need to save, but as a business owner you have a plethora of different retirement plan options that as an individual you didn't. If you are confused and bewildered and not sure what direction to go, I completely understand. I was in the exact same situation as you. I was a W2 employee, and then when I became a small business owner I now had many different options that I could choose from and initially it was overwhelming. It was easier doing it for the client, but now that I was actually on the business owner's side of things, the 1099 independent contractor side of things, I now wanted to make sure that I was doing the best retirement plan for me. If you are looking to see what retirement plan is best for you, here are a few options to consider: 1. A traditional or Roth IRA. Now I am sure you are probably wondering, "Well Jeff, I could do that when I was an individual. What is the benefit for me doing it as a business owner?" Well here's the thing; the beauty of doing a traditional or Roth IRA, if you are not putting money in those plans at all, and maybe you are profitable but you are not as profitable as you would like to be, under the age of 50 and under you can still put in $5,000 on either the traditional or Roth IRA. At least that is a good starting point. Now, if you can put in more than that 5,000 then we'll start looking at the other options coming up. 2. A simple IRA. The name is a little bit misleading because to me it is not quite that simple. Here is the general gist: You're able to put in up to $11,500 per year into the simple IRA. Over the age of 50 is allowed a $2,500 catch up. But if you have employees, here is where it gets a little bit trickier. To make it simple, just know that you're going to have to put in about 3% of your employees' wages as an employer contribution. That is how much, as a business owner, you're going to be out for each employee. There are certain rules that say you can dip below that 3% over a 2-out-of-the-5-year period, but I don't want to muddy the waters too much. Just know that for the most part you're going to have to put in about 3% of your employees' salary to be able to contribute the 3% for yourself as well. Now that might sound a little bit confusing and it kind of is, but if you go to the blog and do a Google search for "simple IRA rules", you'll find out more about the simple IRA and see if that applies to you.
Views: 5827 Jeff Rose
Steps to doubling your retirement savings
IRAHelp.com founder Ed Slott on the steps to boosting your retirement savings. Watch Gerri Willis talk about Income Tax, Retirement, Retirement Planning, Tax Reform, and Taxes on Willis Report.
Views: 3219 Fox Business
🔴 What to Do If  You Have Not  Saved For Retirement  and You Are Now 50 Years Old
What to Do If You Have Not Saved For Retirement and You Are Now 50 Years Old. Acceleration Mode You will need to Accelerate your efforts. It is time to start massive action to build your retirement portfolio. The Good News - You still have time, so there is no need to panic. Use your experience in life to make the next 50 years your best. Don't Worry - If you put a plan together, you can still have a healthy and prosperous retirement. Don't Punish Yourself Full of Guilt - Many things happen in life and we can all get off track. In fact, a recent GOBankingrates.com survey found that 28% of people over age 55 have no retirement savings at all, while 26% report that they have under $50,000 saved for retirement. But with retirement fast approaching, there are still some moves you can make to get closer to achieving financial independence. Apr 4, 2017 Start a Plan Start an Exercise Program - You want to be healthy and wise as you get close to retirement. Social Security Administration - Check on your benefits you have earned. A good rule of thumb, don't rely on Social Security. Review Your Expenses - Look for ways to reduce your expenses on items or services you absolutely do not need. Develop a thrifty mentality. Plan to Work to an Older Age - Instead of thinking about retiring early, plan on working to reach your full Retirement Social Security Age. For most that will be around the age of 67. Begin to Increase Your Savings Accelerate your savings rates from 15% to 20% or more. Save the maximum amount your 401K allows. Work an extra job and put all of that income in your savings. Review Your Investment Program or Get Started. Invest your money in Mutual Funds or other equity investments. GOAL to Achieve $300,000 to $500,000 is a good number to shoot for. Ideally, you should have 6X your salary. Examples of How to Do it. Age: 50 Income: $60,000 Save: 15% of Salary $750.00 / Month Time: 17 years Earnings: 7% Accumulation in 17 years: $295,000 Increase Saving Rate to 20%: $393,000 Age: 50 Income: $100,000 Save: 15% of Salary or $1,250.00 / Month Time: 17 years Earnings: 7% Accumulation in 17 years: $491,000 Increase Saving Rate to 20%: $653,000 Age: 50 Income: $40,000 Save: 5% of Salary or $250 / Month Time: 17 years Earnings: 7% Accumulation in 17 years: $100,000 Relocate to A Less Expensive Area. Sell Your Home. Move to a Different State or Out of the Country.
Views: 71266 Wisdom Investor
What is a 401(k) | by Wall Street Survivor
What is a 401(k)? Win $500 for your 401(k) and join our Fall Trading Contest today! https://www.wallstreetsurvivor.com/register?utm_source=Youtube&utm_medium=VideoLink&utm_campaign=FallContest A 401k is a workplace savings plan that allows you to build wealth by investing a portion of your pay check in assets such as stocks, mutual funds, or real estate investment trusts (REITs). It is also the primary way employers help their employees prepare for retirement, and has the added benefit of allowing an employee to invest part of their salary before taxes are taken out. While all 401k plans offer tax breaks to retirement savers, many other features of these retirement accounts differ, sometimes significantly, by employer. 401k plans are an effective way to shelter money from taxes because your contributions are deducted from your taxable income. So if you made $50,000 last year and invested $10,000 in your 401k, you’d only have to pay taxes on the remaining $40,000. This can be a great tactic, especially for people who live well within their means and can afford to save a big chunk of their salary. Learn more about 401(k) plans with Wall Street Survivor's Building Your Nest Egg course: http://courses.wallstreetsurvivor.com/is/20-building-your-nest-egg/
Views: 206386 Wall Street Survivor
Tax saving and retirement planning
Your Money tells you everything about the newly launched 7.75% saving (taxable) bonds, ELSS and does your retirement planning by helping you choose between NPS and PPF.
Views: 2781 CNBC Awaaz
How Do I Save for Retirement Without a 401(k)?
34% of Americans don't have access to an employer-sponsored retirement account. But that doesn't mean you're out of options. Read the full article here: https://grow.acorns.com/how-to-save-for-retirement-without-a-401k/
Views: 810 Acorns
Warren Buffett on Investing in the TSP!
Warren Buffett on the TSP Article: http://www.fedretirementplanning.com/warren-buffett-investing-tsp/ ► Subscribe to My Channel Here: https://www.youtube.com/channel/UC8bWrSS2BdaQGtc1mq45Z6g?sub_confirmation=1 -- Cooper Mitchell helps federal employees better understand their benefits and helps them retire on their terms. Using financial planning and investment management, Cooper is able to tackle the issues that are unique to federal employees. Cooper is also a public speaker who is available for various federal conferences and events. Find Cooper here: Website: http://fedretirementplanning.com Work with Cooper: http://http://www.fedretirementplanning.com/work-with-cooper/ Facebook: https://www.facebook.com/fedretirementplanning/ Email: [email protected] -- As always, enjoy and please subscribe! -- © Copyright Fed Retirement Planning 2017, All Rights Reserved
No Retirement Savings At 60 - Reverse Mortgage Options
"More than fifty percent of all Americans over 55 have no retirement cost savings whatsoever." baseding on the June 7, 2015, short article in the Guardian. Either all of us remain in rejection or it is impossible to except for retired life. If either is true, where will Americans get money for a safe area to live and the needs of life when they quit working? Simply put, a reverse mortgage will permit you to take advantage of some of the equity of your home without the problem of a month-to-month mortgage payment. All you have to do is pay the taxes, insurance policy, and keep the home livable, as you would have to do with any kind of mortgage or perhaps if you really did not have a mortgage. The drawback is that the lending lowers your home's equity as you use it. The passion for the money you have utilized from the loan is merely contributed to the loan monthly. That's why you do not have a monthly repayment. The matching advantage is that you will be assured to have a home for the remainder of your life and using the cash from the reverse mortgage. I created this video with the YouTube Video Editor (https://www.youtube.com/editor)
Views: 123 LoveThisVideo
Pay Taxes Now or Later: Retirement Strategies Beyond a 401(k)
You've been told to save early and as much as you can for retirement. And you are probably contributing to your 401(k). But are there other options? We’re not talking about the mix of investments you choose, but the other investment vehicles available to you. Taxes can take a big bite out of your savings, so where you put your money is just as important as how much you’re saving. No one knows with certainty what the tax landscape will look like in the next 10, 20, or 30 years. In our changing world, you need to set yourself up to successfully meet your goals. Flexibility will give you the best chance at maximizing your dollars and giving you the retirement of your dreams – which is why you need to be strategic in your savings approach now. Watch this webcast to learn: • Actions to take today to maximize your income later. • Your retirement saving options. • Ways to minimize taxes in retirement.
Views: 18777 NorthwesternMutual
Where Should You Be Saving Your Money For Retirement
Where Should you be saving money for retirement? Is your 401k the best place to save? Maybe a Roth IRA? Here is my advice on where to prioritize your retirement savings. For more financial planning tips and strategies, be sure to check out our blog at http://MoneyEvolution.com Check out our Free Guides… Money Evolution Guide To What Every Investor Should Know About Planning And Saving For Retirement http://moneyevolution.com/free-guide Money Evolution Guide To Understanding Your Social Security Benefits http://moneyevolution.com/social-security-guide Money Evolution Guide to Understanding and Managing Your Debt http://moneyevolution.com/understanding-your-debt Money Evolution Guide To Buying and Financing Your Home http://moneyevolution.com/financing-your-home Money Evolution Guide to Understanding Real Estate As An Investment http://moneyevolution.com/real-estate-investment Money Evolution Guide To Understanding Your Taxes http://moneyevolution.com/understanding-your-taxes Money Evolution Guide To Understanding the Total Cost of Car Ownership http://moneyevolution.com/understanding-cost-car-ownership Follow Us On Facebook - https://www.facebook.com/moneyevolutionhome/ Twitter - https://twitter.com/billlethemon Linked In - https://www.linkedin.com/in/bill-lethemon If you have any questions about this, or any of my other videos, feel free to contact me at any time. Email Me at [email protected] Or Call My Office at 248-731-7829
Views: 3613 Money Evolution
7 Key Benefits to a Health Savings Account
Start saving money by investing in your own health care and harnessing the power of a Health Savings Accounts before it's too late.
Views: 17678 Entrepreneur
The Shocking Retirement Savings Mistake You're Making
It's important to save for retirement, and 401(k) plans can be a smart place to put your retirement savings. But it's important to use the investment options that 401(k)s provide correctly in order to avoid big mistakes. In the following video, Dan Caplinger, The Motley Fool's director of investment planning, looks at a key mistake that retirement investors are making with target-date funds in their 401(k)s. Dan discusses a survey from Aon Hewitt and Financial Engines that found that more than half don't use target-date funds as one-stop investment choices, instead combining them with other investment options in a way that often leaves them mismatched. As a result, the survey found that investors earn two percentage points less in annual returns than they would with only a target-date fund. Dan concludes that it's important to use your 401(k) properly, understanding the role that target-date funds play and the diversification they offer. Investing made simple: The Motley Fool's essential guide to investing is now available to the public, free of cost, at http://bit.ly/1atRpHZ. This resource was designed to cover everything that new investors need to know to get started today. For your free copy, just click the link above. Visit us on the web at http://www.fool.com, home to the world's greatest investing community! ------------------------------------------------------------------------ Subscribe to The Motley Fool's YouTube Channel: http://www.youtube.com/TheMotleyFool Or, follow our Google+ page: https://plus.google.com/+MotleyFool/posts Inside The Motley Fool: Check out our Culture Blog! http://culture.fool.com Join our Facebook community: https://www.facebook.com/themotleyfool Follow The Motley Fool on Twitter: https://twitter.com/themotleyfool
Views: 428 The Motley Fool
What are the TSP Withdrawal Options?
Do you know your options for withdrawal from the Thrift Savings Plan? You may be surprised to hear, but you are allowed only one partial and one full withdrawal. Link to TSP Article Discussed: https://www.tsp.gov/planparticipation/withdrawals/withdrawingAccount.shtml -- ► Subscribe to My Channel Here: https://www.youtube.com/channel/UC8bWrSS2BdaQGtc1mq45Z6g?sub_confirmation=1 -- Cooper Mitchell helps federal employees better understand their benefits and helps them retire on their terms. Using financial planning and investment management through Cooper is able to tackle the issues that are unique to federal employees. Cooper is also a public speaker who is available for various federal conferences and events. Find Cooper here: Website: http://fedretirementplanning.com Work with Cooper: http://http://www.fedretirementplanning.com/work-with-cooper/ Facebook: https://www.facebook.com/fedretirementplanning/ Email: [email protected] -- As always, enjoy, and please subscribe! -- © Copyright Fed Retirement Planning 2016, All Rights Reserved
Making your savings last in retirement
Retirees must often balance the need for income with the goal of making their retirement savings last. Maria Bruno of Vanguard Investment Strategy Group suggests retirees take a total return approach with their investments. Please remember that all investments involve some risk. Be aware that fluctuations in the financial markets and other factors may cause declines in the value of your account. There is no guarantee that any particular asset allocation or mix of funds will meet your investment objectives or provide your with a given level of income. **For more information about Vanguard funds, including at-cost services, visit vanguard.com or call 877-662-7447 to obtain a prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing.** All investing is subject to risk, including possible loss of principal.
Views: 1353 Vanguard
कैसे करे पैसों का निवेश | How to Invest Money in Hindi
money investment tips in hindi This video show you where to invest money for good returns in india which is the best investment plan in india for middle class also show you best investment options in india for short term कम पैसे मे 7 अच्छे बिजनेस 7 यहाँ देखे 👇 https://youtu.be/q6IQFFqx4g0 सरकार दे रही है सोलर एजेंसी शुरू करने का मौका यहाँ देखे 👇 https://youtu.be/VI0Yu-MTyZA रेस्टोरेंट कैसे खोलें पूरी जानकारी यहाँ देखे 👇 https://youtu.be/inHQIS7e3S0 LED Light Ka Business Kaise Suru Kare यहाँ देखे 👇 https://youtu.be/HcBMzKDyRCU हमारे बाक़ी के वीडियो यहाँ देखे👇 https://www.youtube.com/playlist?list=PLAhPg4LZ3lKYQDVbcROWVQTYOL5HwMsB- बिना बिजली के चलने वाला एसी यहाँ देखे 👇 https://youtu.be/5pkGR4JDwbU सरकार की स्कीम, 70 हजार में 25 साल तक फ्री में बिजली यहाँ देखे 👇 https://youtu.be/gFIK5b3ssWA
New retirement savings option:  Roth 401k conversion
Pay taxes now to draw on retirement funds, tax free, in the future.
SSS Personal Equity and Savings Option (PESO) Fund
Guest: Atty. Marichelle Reyes, OIC - Voluntary Provident Fund Department of Social Security System Date Aired: May 12, 2015 Visit http://www.untvweb.com/programs/good-morning-kuya
Views: 7451 UNTV News and Rescue
Should I invest in NPS? | Should you invest an extra ₹ 50,000 in NPS to save tax?
NPS has evolved as a good financial product for retirement planning. The government is trying to make it more attractive by giving extra tax benefits to the investors. The NPS is drawing attention because of its tax benefit under section CCD (1b). It also forces you to save regularly, save on taxes and build a retirement corpus. If withdrawal is made after 60 years of age, at least 40 per cent of the accumulated funds must be used to buy an annuity. The rest of the money can be withdrawn in a lump sum. If you are looking for a tailor-made government sponsored scheme to invest for your retirement, you can consider investing in NPS. But you should opt for it only if you are prepared to hold on to your investments till your retirement at 60 years. If you can take care of your long-term investments on your own, you can go ahead with your investments in Equity Linked Savings Schemes (ELSSs) or diversified equity funds. Find us on Social Media and stay connected: Facebook Page - https://www.facebook.com/yadnyaacademy/?fref=ts Facebook Group - https://goo.gl/y57Qcr Twitter - https://mobile.twitter.com/investyadnya
How to make more money from your pension ? | Money Saving Tips At Old Age | Financial TIps
Title - How to make more money from your pension ? Hi. In this video, I’m going to look at how you could make extra money from your pension pot. And it applies to anyone who's been saving money through their working lives into a pension pot and is now 55 or over, and you're now ready to start withdrawing money out from your pension. So, the technique we're going to look at today is called ‘pension recycling’. And the basic idea of pension recycling is that you take money out of your pension, and then you pay it back in. On paying it back in, the tax man gives you an extra boost with a tax break so your money grows, and then you can withdraw it again and the circle keeps going around. Every time you pay it back in, you get a boost from the tax man. Now pension recycling has been around for a long time. It's not a new thing, but the opportunities for it, I think, are growing now because of George Osborne's big pension revolution that he started to implement in April 2014, and there's going to be more changes coming through in April 2015. And with all these new changes, pension recycling, I think, will become a more attractive opportunity for many people. So, just as a quick refresher on these pension changes going forward, there's really going to be three main ways for withdrawing money from your pension pot. You'll be able to buy an annuity – a good, old-fashioned annuity, which most people buy now – and you buy an income for the rest of your life. Or you could do something called ‘flexi drawdown’ – very similar to something called ‘flexible drawdown’, which has been around for a while. That’s where you leave your pension pot invested, but you withdraw varied amounts each year. And then there's a new way to withdraw money from your pension – it's called the UFPLS. That stands for ‘uncrystallised fund pension lump sum’. Now, in many ways the UFPLS isn't that different from flexi drawdown, but it's better if you want to do this game of pension recycling. So, you might want to ask, how are we going to do this? How is it going to work? How are we going to make money? Well, here's an example. Let's imagine you've got £8,000 and you decide to pay it into your pension. You pay £8,000 into your pension pot and the tax man, assuming you're a basic rate tax payer paying 20% income tax, the tax man boosts your pension pot up to £10,000. So, you've got a nice £2,000 profit. Now you want to get the money out from your pension pot so you can spend it. Well, you will have to pay some income tax, but with any withdrawal from your pension pot, there's always been the 25% tax-free lump sum. So, traditionally, when you started withdrawing money from your pension pot, say you have a £100,000 pot, you could take out £25,000 and not pay any tax. The beauty of the UFPLS is that instead of taking all of that tax-free lump sum upfront, you can take a bit of it every time you withdraw money from the pension pot. So, let's say you decide to withdraw £10,000 from the pension pot. Remember, we had £8,000 and the taxman kindly boosted it to £10,000 for us. Now, we take £10,000 out as a UFPLS. £2,500 is tax free. The other £7,500 we've got to pay income tax on, 20% of £7,500 is £1,500, so we end up paying £1,500 income tax – £10,000 minus £1,500 income tax and we've got £8,500. So, we've turned the £8,000 into £8,500 – we've made a £500 profit simply by paying money into the pension pot and taking it out immediately. And you could carry on doing this year after year and making a nice little profit each year thanks to the taxman's little tax break. Now, you might be thinking, “Wow, that's brilliant! I'm going to recycle hundreds of thousands of pounds through my pension each year and make loads of money.” Well, sadly, George Osborne is wise to this and he said that once you start withdrawing money from your pension via a flexi drawdown or a UFPLS, you can only pay £10,000 back into your pension each year. So, the potential profits are significant, but they are a bit limited. But that doesn't mean you shouldn't do it. £500 is £500. No one is going to turn their noses up at that. And actually, if you go for an annuity, you'll still be able to pay in £40,000 each year. And the point about annuities is we're going to see new rules for annuities making them more flexible, meaning that you can get more variation in your annuity and income each year.
What options do you have to save for retirement at an older age?
In the video we go over a scenario in which a person of 55 years of age has not saved up enough to live comfortably through their retirement. We talk with Dirk Cotton from the retirement cafe on what options do you have in order to meet your financial goals. Should you invest in the stock market? Should you get a reverse mortgage? We also discuss easy steps you can take today that will help increase your monthly revenue and allow you to put more money towards your retirement savings. You can view this video on our website by visiting www.boomerincomeideas.com You can also visit our Facebook page by visiting https://www.facebook.com/boomerincomeideas/
The Bottom Line: Retirement Savings Options
'The Bottom Line' is an ongoing campaign airing on AFN, providing overseas US service members and their families with important command information and useful military resources.
Type of Savings Account to Use for Child's Education
Robert McCullock, CFP® was asked what type of savings account is best to use to save for your child's education, a Roth IRA or 529 Plan? In this video clip, Robert explains the rules for a 529 plan, college savings plan and then further explains the pros of saving money in a Roth IRA account, a tax-free retirement savings account. http://purefinancial.com IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
5 Best Investment Ideas to Get Regular Monthly Income
Best investment ideas. 5 Best Investment to Get Regular Monthly Income. http://bornforentrepreneurs.com Here is ideas to get monthly income by investing. The best 5 investment ideas are Fixed Deposit in Bank, Dividend from Mutual funds, Dividend from stock market, Buy a Insurance and Invest in Post office. Best investment ideas, best investment firms, best investment plans in india, best investment company, best investment for 2016, best investment in India, best investment in the Philippines, best investment ideas in india. best investment options in India. best return on investment. best investment plans. best investment plans in India 2016. the best investment.
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