Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: Table './themoney_2011new/watchdog' is marked as crashed and last (automatic?) repair failed query: INSERT INTO watchdog (uid, type, message, variables, severity, link, location, referer, hostname, timestamp) VALUES (0, 'php', '%message in %file on line %line.', 'a:4:{s:6:\"%error\";s:14:\"strict warning\";s:8:\"%message\";s:62:\"Non-static method view::load() should not be called statically\";s:5:\"%file\";s:63:\"/home/themoney/public_html/sites/all/modules/views/views.module\";s:5:\"%line\";i:906;}', 3, '', 'http://themoneytimes.com/taxonomy/term/37/all/feed', '', '54.146.194.42', 1454710050) in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: Table './themoney_2011new/watchdog' is marked as crashed and last (automatic?) repair failed query: INSERT INTO watchdog (uid, type, message, variables, severity, link, location, referer, hostname, timestamp) VALUES (0, 'php', '%message in %file on line %line.', 'a:4:{s:6:\"%error\";s:14:\"strict warning\";s:8:\"%message\";s:109:\"Declaration of views_handler_argument::init() should be compatible with views_handler::init(&$view, $options)\";s:5:\"%file\";s:86:\"/home/themoney/public_html/sites/all/modules/views/handlers/views_handler_argument.inc\";s:5:\"%line\";i:744;}', 3, '', 'http://themoneytimes.com/taxonomy/term/37/all/feed', '', '54.146.194.42', 1454710050) in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: Table './themoney_2011new/watchdog' is marked as crashed and last (automatic?) repair failed query: INSERT INTO watchdog (uid, type, message, variables, severity, link, location, referer, hostname, timestamp) VALUES (0, 'php', '%message in %file on line %line.', 'a:4:{s:6:\"%error\";s:14:\"strict warning\";s:8:\"%message\";s:134:\"Declaration of views_handler_filter::options_validate() should be compatible with views_handler::options_validate($form, &$form_state)\";s:5:\"%file\";s:84:\"/home/themoney/public_html/sites/all/modules/views/handlers/views_handler_filter.inc\";s:5:\"%line\";i:607;}', 3, '', 'http://themoneytimes.com/taxonomy/term/37/all/feed', '', '54.146.194.42', 1454710050) in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: Table './themoney_2011new/watchdog' is marked as crashed and last (automatic?) repair failed query: INSERT INTO watchdog (uid, type, message, variables, severity, link, location, referer, hostname, timestamp) VALUES (0, 'php', '%message in %file on line %line.', 'a:4:{s:6:\"%error\";s:14:\"strict warning\";s:8:\"%message\";s:130:\"Declaration of views_handler_filter::options_submit() should be compatible with views_handler::options_submit($form, &$form_state)\";s:5:\"%file\";s:84:\"/home/themoney/public_html/sites/all/modules/views/handlers/views_handler_filter.inc\";s:5:\"%line\";i:607;}', 3, '', 'http://themoneytimes.com/taxonomy/term/37/all/feed', '', '54.146.194.42', 1454710050) in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: Table './themoney_2011new/watchdog' is marked as crashed and last (automatic?) repair failed query: INSERT INTO watchdog (uid, type, message, variables, severity, link, location, referer, hostname, timestamp) VALUES (0, 'php', '%message in %file on line %line.', 'a:4:{s:6:\"%error\";s:14:\"strict warning\";s:8:\"%message\";s:148:\"Declaration of views_handler_filter_node_status::operator_form() should be compatible with views_handler_filter::operator_form(&$form, &$form_state)\";s:5:\"%file\";s:100:\"/home/themoney/public_html/sites/all/modules/views/modules/node/views_handler_filter_node_status.inc\";s:5:\"%line\";i:13;}', 3, '', 'http://themoneytimes.com/taxonomy/term/37/all/feed', '', '54.146.194.42', 1454710050) in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: Table './themoney_2011new/watchdog' is marked as crashed and last (automatic?) repair failed query: INSERT INTO watchdog (uid, type, message, variables, severity, link, location, referer, hostname, timestamp) VALUES (0, 'php', '%message in %file on line %line.', 'a:4:{s:6:\"%error\";s:14:\"strict warning\";s:8:\"%message\";s:62:\"Non-static method view::load() should not be called statically\";s:5:\"%file\";s:63:\"/home/themoney/public_html/sites/all/modules/views/views.module\";s:5:\"%line\";i:906;}', 3, '', 'http://themoneytimes.com/taxonomy/term/37/all/feed', '', '54.146.194.42', 1454710050) in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: Table './themoney_2011new/watchdog' is marked as crashed and last (automatic?) repair failed query: INSERT INTO watchdog (uid, type, message, variables, severity, link, location, referer, hostname, timestamp) VALUES (0, 'php', '%message in %file on line %line.', 'a:4:{s:6:\"%error\";s:14:\"strict warning\";s:8:\"%message\";s:130:\"Declaration of views_plugin_row::options_validate() should be compatible with views_plugin::options_validate(&$form, &$form_state)\";s:5:\"%file\";s:79:\"/home/themoney/public_html/sites/all/modules/views/plugins/views_plugin_row.inc\";s:5:\"%line\";i:134;}', 3, '', 'http://themoneytimes.com/taxonomy/term/37/all/feed', '', '54.146.194.42', 1454710050) in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: Table './themoney_2011new/watchdog' is marked as crashed and last (automatic?) repair failed query: INSERT INTO watchdog (uid, type, message, variables, severity, link, location, referer, hostname, timestamp) VALUES (0, 'php', '%message in %file on line %line.', 'a:4:{s:6:\"%error\";s:14:\"strict warning\";s:8:\"%message\";s:126:\"Declaration of views_plugin_row::options_submit() should be compatible with views_plugin::options_submit(&$form, &$form_state)\";s:5:\"%file\";s:79:\"/home/themoney/public_html/sites/all/modules/views/plugins/views_plugin_row.inc\";s:5:\"%line\";i:134;}', 3, '', 'http://themoneytimes.com/taxonomy/term/37/all/feed', '', '54.146.194.42', 1454710050) in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: Table './themoney_2011new/watchdog' is marked as crashed and last (automatic?) repair failed query: INSERT INTO watchdog (uid, type, message, variables, severity, link, location, referer, hostname, timestamp) VALUES (0, 'php', '%message in %file on line %line.', 'a:4:{s:6:\"%error\";s:7:\"warning\";s:8:\"%message\";s:137:\"Cannot modify header information - headers already sent by (output started at /home/themoney/public_html/includes/database.mysql.inc:135)\";s:5:\"%file\";s:46:\"/home/themoney/public_html/includes/common.inc\";s:5:\"%line\";i:153;}', 3, '', 'http://themoneytimes.com/taxonomy/term/37/all/feed', '', '54.146.194.42', 1454710051) in /home/themoney/public_html/includes/database.mysql.inc on line 135
Retirement http://themoneytimes.com/taxonomy/term/37/all/feed en 7 Reasons to Push Back Retirement http://themoneytimes.com/featured/20140222/7-reasons-push-back-retirement.html <div class="field field-type-text field-field-teaser"> <div class="field-items"> <div class="field-item odd"> <p>Nearing the traditional retirement age? Perhaps you think you have plenty saved up to spend in the next two decades and enjoy a leisure-filled retirement.</p> </div> </div> </div> <div class="field field-type-text field-field-lead"> <div class="field-label">lead:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>Capability, and not age, should decide your retirement. Delaying it has its benefits. Read on to know.</p> </div> </div> </div> <p>You might have adequate finances as of today, but it is always wise to save till age allows to protect against unpleasant surprises in future.</p> <p>Here are seven reasons to push back retirement.</p> <p><strong>1. Bigger Savings</strong><br /> The longer you work, the more you can save for the golden years ahead.</p> <p>Delaying retirement by just a few years can make all the difference, as the years preceding it is the best time to boost savings. The reason is that by this age your children are financially independent. Also at that age, you tend to earn the highest, having wealth of expertise and experience behind you.</p> <p>Then, you have more time to fund your retirement investment through saving accounts like 401(k) or IRA.</p> <p><strong>2. Fewer Retirement Years to Sustain</strong><br /> Many healthy Americans can expect to live at least 20 years post retirement. </p> <p>A study recently done by the Employee Benefit Research Institute claims that most Americans, including those in the higher-income category, are likely to fall short of money 10 or 20 years after retirement.</p> <p>Considering this, delaying retirement will lead to fewer years without regular income from work, meaning baby boomers can comfortably draw down on their saving without the fear of outliving their portfolio.</p> <p><strong>3. More Time to Pay Off Debts</strong><br /> If you are saddled with debts like mortgage default, etc., delaying retirement will give you more years to clear debts so that there are no liabilities once you are ready for the "holiday of a lifetime." </p> <p><strong>4. Defer Taxes</strong><br /> Postponing retirement will not only help you save more but also delay taxes.</p> <p>With 401(k), a retirement saving account, you can delay paying taxes on savings until they are withdrawn during retirement, when the income tax is likely to be less.</p> <p><strong>5. More Social Security Benefits</strong><br /> Did you know that with every month you delay retirement, the Social Security benefits increase by a certain percentage?</p> <p>“A worker can choose to retire as early as age 62, but doing so may result in a reduction of as much as 30 percent,” claims the government''s Web site on Social Security.</p> <p>Though these benefits do not apply after 70, you can reap in maximum by delaying retirement between ages 62 to 70.</p> <p>To known more on how retirement age affects Social Security, check <a href= "http://www.ssa.gov/oact/quickcalc/early_late.html">Social Security Benefits: Early or Late Retirement?</a></p> <p><strong>6. Health Insurance Benefits</strong><br /> Following early retirement, finding affordable health insurance coverage to cover doctor bills and other medical costs can be extremely difficult. Also, you cannot sign up for Medicare before age 65. Enjoy insurance benefits form <a href="http://www.canadainsurancecoverage.ca/super-visa-insurance.php" target="_blank">super visa insurance</a></p> <p>In such a scenario, sticking to the job or moving to part-time work at least till age 65 is the most effective way to cover medical bills through insurance provided by the employer. </p> <p><strong>7. Happier and Healthier Life</strong><br /> Though many believe that retirement is the time to live unfulfilled dreams of their youth, hitting retirement is not as rosy.</p> <p>In fact, a study done by University of Maryland on 12,000 workers, ages 51 to 61, found that people who downshifted from full-time to part-time job were happier and healthier and reported less problems like heart disease and depression than those who completely left work. People can opt for the new <a target="_blank" href="http://www.canadainsurancecoverage.ca/funeral-insurance.php/">funeral insurance in Toronto</a> and other cities in Canada and USA.</p> <p>This story was originally published on 20/08/2011.</p> <div class="field field-type-filefield field-field-image"> <div class="field-items"> <div class="field-item odd"> <img src="http://themoneytimes.com/files/imagecache/picturethumb/retirement-2.jpg" alt="" title="" class="imagecache imagecache-picturethumb imagecache-default imagecache-picturethumb_default" width="180" height="156" /> </div> </div> </div> <div class="field field-type-text field-field-imagecaption"> <div class="field-label">imagecaption:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>A study done by University of Maryland on 12,000 workers, ages 51 to 61, found that people who downshifted from full-time to part-time job were happier and healthier and reported less problems like heart disease and depression than those who completely left work.</p> </div> </div> </div> 401(k) adequate finances default on mortgage payment IRA pay off debts Personal Finance Retirement retirement investment Social Security benefits The Money Times newsletter Top Story United States Sat, 22 Feb 2014 08:01:47 +0000 Jaspreet Virk 1701711035 at http://themoneytimes.com 5 Retirement Tips for Women http://themoneytimes.com/featured/20090805/5-retirement-tips-women-id-1079004.html <div class="field field-type-text field-field-teaser"> <div class="field-items"> <div class="field-item odd"> <p>A study states that the average woman works for 12 years fewer than the average man, makes $300,000 less than the average man in a lifetime and lives six years longer than the average man. All combined, it means that women have to plan for a longer retirement with less money. </p> </div> </div> </div> <div class="field field-type-text field-field-lead"> <div class="field-label">lead:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>Womenfolk worried about their post retirement life might find these pointers handy.</p> </div> </div> </div> <p>And, it gets worse.</p> <p>Another study conducted by the Transamerica Center for Retirement Studies shockingly revealed that American women are not at all prepared for retirement. They are not saving enough to ensure a comfortable stress-free after work life.</p> <p>Now that we’ve got your attention, here are a few handy hints for you to stay in control even at the fag end of your life: </p> <p><strong>1. Start Saving Early</strong><br /> It is very important to start saving early. If you haven’t started yet, start now. If the company you work in offers a retirement plan, take advantage of it. The Employee Benefit Research Institute (EBRI) study showed that 52 percent of workers over the age of 55 currently have less than $50,000 in retirement savings. For workers between the ages of 25 and 35, the figure was a whopping 88 percent.</p> <p><strong>2. Educate Yourself</strong><br /> 80 percent of the women and 67 percent of the men interviewed in a study by ‘Transamerica Center for Retirement Studies’ said they didn't know enough to feel comfortable about retirement planning. If you get the same feeling, don’t be lazy. Educate yourself by various simple measures like reading up on retirement tips, reviewing the retirement and investing guides provided by your employer-sponsored plan and so on. </p> <p>Understanding these retirement plans may also provide benefits to your spouse, so make sure you read and understand any waiver or consent forms that require your signature as part of your spouse's retirement plan distributions.</p> <p><strong>3. Diversify Your Retirement Savings</strong><br /> Putting all your eggs in one basket, is a risky business. Diversification of funds is most critical in retirement planning. You don’t want your IRAs and your TSP invested in high-risk funds. Though they generate higher income, if these funds do a U-turn on you, you'll be left a pauper.</p> <p>The solution is to invest some of your assets in stocks, some in bonds, and some in cash savings account. Try to increase your contributions to your retirement plan progressively as you move closer to retirement. This will allow your plan to grow over a period of time.</p> <p><strong>4. Thou Shall Not Touch Thy Savings</strong><br /> Temporary pleasures such as vacations home improvement etc might tempt you to pluck your budding savings. No matter how much pleasure you derive from that money now, it will cost you dearly. Withdrawing money from your IRA means you’ll pay income tax and also 10% penalty if you are under the age of 59½. Taking money out of your retirement savings, also decreases the amount of your investment that's allowed to grow tax-deferred. So it is in your best interest to leave that money untouched till maturity of the scheme.</p> <p><strong>5. Postpone Your Retirement</strong><br /> If, after various calculations and efforts, you still find yourself not where you expected, and you think that you might have to compromise on your lifestyle after retirement, then revise your goals, or better , work longer. A few extra years on the job, will help you generate more savings.</p> <p>With these simple retirement tips, you should experience a comfortable retirement without worry.</p> <p>This story was originally published on 2009-08-05.</p> <div class="field field-type-filefield field-field-image"> <div class="field-items"> <div class="field-item odd"> <img src="http://themoneytimes.com/files/imagecache/picturethumb/SunnyDeol.jpg" alt="" title="" class="imagecache imagecache-picturethumb imagecache-default imagecache-picturethumb_default" width="180" height="120" /> </div> </div> </div> <div class="field field-type-text field-field-box"> <div class="field-items"> <div class="field-item odd"> <p><strong>Why women need focus on retirement planning more than men?</strong></p> <p>According to the Women’s Institute for a Secure Retirement (WISER), in Washington, D.C.:</p> <p>1. Three out of four working women earn less than $40,000 per year.<br /> 2. Half of all women work in jobs without pensions.<br /> 3. Women's earnings average $.77 for every $1 earned by men.</p> </div> </div> </div> http://themoneytimes.com/featured/20090805/5-retirement-tips-women-id-1079004.html#comments Business investments Retirement retirement savings Top Story United States Women's Corner Wed, 29 Jan 2014 13:19:02 +0000 Raghav Markanda 79004 at http://themoneytimes.com Planning retirement? Here is the secret of retiring gracefully! http://themoneytimes.com/featured/20140121/planning-retirement-here-secret-retiring-gracefully.html <div class="field field-type-text field-field-teaser"> <div class="field-items"> <div class="field-item odd"> <p>Retirement plans need not start in the twilight years of your life. They should be planned well in advance so that you can enjoy the rewards of your hard work and savings!! Here are three steps you need to take in order to retire gracefully. </p> </div> </div> </div> <div class="field field-type-text field-field-lead"> <div class="field-label">lead:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>"When a man retires and time is no longer a matter of urgent importance, his colleagues generally present him with a watch."-- R.C. Sherriff</p> </div> </div> </div> <p><strong>Define the age at which you want to retire</strong><br /> There is no well-defined age for retirement, it may mean a specific number to you, but an entirely different one for someone else. You may want to retire at 60, while your best friend thinks of it at age 45. </p> <p>Well, it is entirely up to you! Consider the following factors while settling on a number: </p> <p>1. What you plan to do after retirement: Whether you indulge in a hobby, social service or any other activity that will give you enough income for sustenance. </p> <p>2. Long term plans: Nursing any long cherished dream like traveling to an exotic place, owning a Ferrari or anything like that? If yes, you will need to have a fat pocket as and when you wish to retire. </p> <p><strong>Evaluate your income needs when you hang up your boots</strong><br /> Retirement means different things to different people. While some may choose to stop working altogether, others want to start serving the community or pursue hobbies like painting that are not likely to fetch any substantial amount of money.</p> <p>Keep this point in perspective while chalking out a plan for your retirement. Depending on your choice, have enough funds in your kitty as and when you decide to retire from active life. </p> <p><strong>Create an investment plan to achieve goals</strong><br /> Now you have a set plan and have calculated the amount you will need during your retired life. Start researching ways and means in which you can save the money required to address your financial needs when you call it a day. </p> <p>Take into account your current income, probable increments in near and distant future, expenses, debts and any extra income that you have while planning. If needed, seek professional help before you take the final plunge. </p> <p>This story was originally published on 12/10/2012.</p> <div class="field field-type-filefield field-field-image"> <div class="field-items"> <div class="field-item odd"> <img src="http://themoneytimes.com/files/imagecache/picturethumb/retire.png" alt="" title="" class="imagecache imagecache-picturethumb imagecache-default imagecache-picturethumb_default" width="180" height="180" /> </div> </div> </div> <div class="field field-type-text field-field-box"> <div class="field-items"> <div class="field-item odd"> <p>Few steps to take for retiring gracefully</p> <p>1. Decide at what age you want to retire and whether you have any long cherished dream to fulfill. Have enough funds in your kitty to take care of that. </p> <p>2. Take a call on whether you are going to have any income source after you retire or you want to pursue a hobby or social service which will fetch little income.</p> <p>3.Consider availing professional advice well before you choose to hang up your boots. </p> </div> </div> </div> <div class="field field-type-text field-field-imagecaption"> <div class="field-label">imagecaption:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>There is no well-defined age for retirement, it may mean a specific number to you, but an entirely different one someone else.</p> </div> </div> </div> entire retirement savings Financial planning investment Money matters Personal Finance retire early Retirement retirement Top Story Tue, 21 Jan 2014 06:38:44 +0000 Rishabh Verma 1701712193 at http://themoneytimes.com Immensely useful tips for graceful post retirement life http://themoneytimes.com/featured/20140118/immensely-useful-tips-graceful-post-retirement-life.html <div class="field field-type-text field-field-teaser"> <div class="field-items"> <div class="field-item odd"> <p>Luxurious and convenient post retirement life is a thing of the past. We are living in an age when the inflation is at its peak and social security benefits are being curtailed. Keeping these points in view, here are few immensely useful tips to for graceful post retirement life.</p> </div> </div> </div> <div class="field field-type-text field-field-lead"> <div class="field-label">lead:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>Retirement: It's nice to get out of the rat race, but you have to learn to get along with less cheese. Gene Perret</p> </div> </div> </div> <p><strong>Start by paying off debt</strong><br /> Every single penny of it, we would say. Yes, you need to settle all your debts – credit card debts, housing and automobile loan – each one of them before you take the plunge. As and when you do that, you will have plenty of cash in hand to spend on yourself post retirement. </p> <p><strong>Being frugal helps</strong><br /> Chances are that you might have limited savings and few state benefits in kitty when you hang up your boots. That means no more splurging in goods of your liking. Frugal living is the call of the day. </p> <p>Look for the best prices available around. Keep an eye on discount coupons, a number of which flood most newspapers on Sundays. Invest some time and effort to collect as many of them as possible and utilize them to enjoy discounts whenever you step out in the market. </p> <p><strong>Let go expensive hobbies</strong><br /> Some hobbies can be really expensive. Take for instance golf, playing which can prove to be quite a drag on your pocket. Let go such hobbies, if any and look for alternatives that are in sync with your pocket and overall financial health. Volunteering and free entertainment opportunities would prove to be a better choice. </p> <p><strong>Enjoy Tax Breaks </strong><br /> Certain states offer juicy tax breaks to senior citizens. Check out which ones fit into your scheme of things and choose the best out of the lot. Local officials and senior citizen help centers can provide a great deal of information, do check them out to get useful information. </p> <p>Following above mentioned tips will definitely work to your advantage. So get set and start preparing for your glorious post retirement life.</p> <p>Originally published on 18/11/2012 </p> <div class="field field-type-filefield field-field-image"> <div class="field-items"> <div class="field-item odd"> <img src="http://themoneytimes.com/files/imagecache/picturethumb/Graceful%20post%20retirement%20life%20tips.jpg" alt="Immensely useful tips to for graceful post retirement life" title="Immensely useful tips to for graceful post retirement life" class="imagecache imagecache-picturethumb imagecache-default imagecache-picturethumb_default" width="180" height="180" /> </div> </div> </div> <div class="field field-type-text field-field-box"> <div class="field-items"> <div class="field-item odd"> <p>For having a graceful post retirement life:</p> <p>1. Pay off all your debt much before you hang up boots.</p> <p>2. Be prepared for frugal living. Discount coupons and daily deals will help you out. </p> <p>3. Do away with expensive hobbies and opt for the ones which are cheap or help you in earning additional income.</p> <p>4. Check where can you get sizable tax break </p> </div> </div> </div> <div class="field field-type-text field-field-imagecaption"> <div class="field-label">imagecaption:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>Immensely useful tips to for graceful post retirement life</p> </div> </div> </div> early retirement planning Investments retire Retirement retirement retirement benefits retirement information retirement services retirement tips Top Story United States Sat, 18 Jan 2014 10:47:09 +0000 Rishabh Verma 1701712442 at http://themoneytimes.com Many Americans Choose to Spend Tax Returns Rather than Save http://themoneytimes.com/featured/20130312/many-americans-choose-spend-tax-returns-rather-save.html <div class="field field-type-text field-field-teaser"> <div class="field-items"> <div class="field-item odd"> <p>It’s that time of year again; if you’re lucky, you could be one of the fortunate people who are in for a lump sum tax return.</p> </div> </div> </div> <p>However, while some may be planning the sensible option of stashing that cash away in a high interest savings account, many people won’t be thinking along these lines; a new survey by <a href="http://phx.corporate-ir.net/phoenix.zhtml?c=70667&amp;p=irol-newsArticle">Capital One</a> has found that more than one in three Americans plan to spend their cash.</p> <p>Around 85 percent of American citizens will be due some form of tax return this year, and the Internal Revenue Service has calculated that the average amount a person could expect to receive would be $2,803. During times of numerous austerity measures, the rising cost of living and stagnant wages, this lump sum is surely a lifeline for cash strapped families. </p> <p>It’s hardly surprising then that 30 percent of those planning to spend their tax returns will be allocating them towards paying for day-to-day necessities. Almost one in four (23 percent) of respondents plan to put their tax returns towards a vacation, while one in five said that the money would be going towards new electronics or clothes.</p> <p><strong>Paying off debts</strong></p> <p>Since the onset of the financial crisis almost five years ago, debt has been a growing problem and a harsh reality for many American citizens. Just last week, it was revealed that household debt was rising at its fastest rate since 2008; during quarter four of 2012, it rose at an annual equivalent rate of 2.5 percent. </p> <p>The impact of rising debt is reflected in the tax return survey; almost one in four (22 percent) stated that they are planning to put their tax returns towards paying off some of their debt. Although almost two thirds of respondents said that they would be saving their tax returns, it is clear that many people realize the importance of paying off debts before starting to save money. </p> <p>Many people have wisely <a href="http://www.money.co.uk/article/1004005-should-I-pay-off-my-debts-with-savings.htm">used their savings</a> to pay off debts; due to the country’s historically low base rate, savers have seen interest rates on their accounts plummet. Meanwhile, as banks have tightened their lending policies, those without a squeaky clean credit rating have had no choice but to borrow money from lenders with higher interest rates on their loans.</p> <p>Borrowing money has become more expensive for many people, so paying off debts with spare funds as quickly as possible is crucial. </p> <p><strong>Like a bonus</strong></p> <p>The research found that many people consider their tax returns to be like bonuses, which encourages them to spend. "People tend to think of their tax refund as free money or an annual bonus, which makes it very tempting to spend it right away,” said the managing vice president for retail banking at Capital Bank, Mickey Konson. “But remember, that refund is your own money, without added interest.”</p> <p><strong>Falling salaries, increasing worry</strong></p> <p>The research findings are perhaps a reflection of the fact that the average wage in America is declining. While the cost of living increases, salaries are already stretched, but figures from the tax department show that take home pay is actually less than it was for the previous year. </p> <p>Peoples’ desire to spend their tax returns is an indication that, for many, saving is a luxury that they can no longer afford. </p> <p>In fact, many people could actually be relying on their tax returns to pay for the cost of everyday living. The survey also found that tax return season brings feelings of worry and dread to a lot of people; 19 percent said that they worry about owing more tax than they have paid, and 18 percent are concerned that they might not get as much money as they were expecting. </p> <p>Konson says that, although tax return time can cause worry for some, it should be treated as a time to re-evaluate financial circumstances; he encourages people to save all – or at least some – of their returns if they are able to. </p> <p>"At a time when people are seeing smaller paychecks, now more than ever they should take a step back, evaluate their financial goals and consider saving their tax refund," he said. “Tax season is a great time to plan ahead, with an eye toward your financial goals."</p> <div class="field field-type-filefield field-field-image"> <div class="field-items"> <div class="field-item odd"> <img src="http://themoneytimes.com/files/imagecache/picturethumb/US%20Saving%20Money.jpg" alt="" title="" class="imagecache imagecache-picturethumb imagecache-default imagecache-picturethumb_default" width="180" height="180" /> </div> </div> </div> <div class="field field-type-text field-field-box"> <div class="field-items"> <div class="field-item odd"> <p>Many Americans find themselves perennially short of cash.</p> <p>It is a common practice among most salaried individuals to spend tax returns for myriad purposes</p> <p>Shrinking incomes, rising expenses make managing finances extremely difficult, hence meager tax returns seem to be tempting to spend.</p> </div> </div> </div> household debt Retirement retirement information retirement savings retirement services retirement tips save money Top Story United States Tue, 12 Mar 2013 05:52:00 +0000 Dinesh Dhiman 1701713004 at http://themoneytimes.com Are Shorts Watching This Number at Hercules Offshore? http://themoneytimes.com/featured/20101112/are-shorts-watching-number-hercules-offshore-id-10141404.html <div class="field field-type-text field-field-teaser"> <div class="field-items"> <div class="field-item odd"> <p>&nbsp;There's no foolproof way to know the future for&nbsp;<strong style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: inherit; font-size: 14px; font-style: inherit; font-weight: bold; ">Hercules Offshore</strong>&nbsp;<span class="ticker" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: inherit; font-size: 14px; font-style: inherit; font-weight: inherit; ">(Nasdaq:&nbsp;HERO)</span>&nbsp;or any other company. However, certain clues may help you see potential stumbles before they happen -- and before your stock craters as a result. Rest assured: Even if you're not monitoring these metrics, short-sellers are.</p> <div style="font-size: 14px; color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; line-height: 22px; ">&nbsp;</div> </div> </div> </div> <p>&nbsp;<strong style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; bo</p> </strong></p><div class="field field-type-filefield field-field-image"> <div class="field-items"> <div class="field-item odd"> <img src="http://themoneytimes.com/files/imagecache/picturethumb/Hercules%20Offshore_1.jpg" alt="" title="" class="imagecache imagecache-picturethumb imagecache-default imagecache-picturethumb_default" width="180" height="180" /> </div> </div> </div> <p><a href="http://themoneytimes.com/featured/20101112/are-shorts-watching-number-hercules-offshore-id-10141404.html" target="_blank">read more</a></p> Business Business Economy Equities Hercules Offshore Investing investing investment Investors Markets Markets News Retirement return Revenue short term United States watching stocks Fri, 12 Nov 2010 16:38:55 +0000 Seth Jayson 141404 at http://themoneytimes.com Social Security Program: Ways to Maximizing Retirement Benefits http://themoneytimes.com/featured/20101024/social-security-program-ways-maximizing-retirement-benefits-id-10131178.html <div class="field field-type-text field-field-teaser"> <div class="field-items"> <div class="field-item odd"> <p>The government's social security program, has definitely made it is easy for the baby boomers to plan retirement.</p> </div> </div> </div> <div class="field field-type-text field-field-lead"> <div class="field-label">lead:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>Nearing retirement, and wondering when to apply for security benefits? Well, more years of work could mean a better life post retirement. </p> </div> </div> </div> <p>Also termed as the Old Age, Survivors, and Disability Insurance (OASDI), this is one of the largest insurance program in the nation that is funded from payroll taxes.</p> <p>As per this program, a fixed percentage of a worker’s earning is transferred directly into the social security funds. Consequently, these funds aid the current recipients of social security benefits. And the cycle goes on.</p> <p>Though the program assures returns, the benefits can be increased or decreased depending on certain conditions.</p> <div class="field field-type-filefield field-field-image"> <div class="field-items"> <div class="field-item odd"> <img src="http://themoneytimes.com/files/imagecache/picturethumb/retirement_000.jpg" alt="" title="" class="imagecache imagecache-picturethumb imagecache-default imagecache-picturethumb_default" width="180" height="124" /> </div> </div> </div> <div class="field field-type-text field-field-imagecaption"> <div class="field-label">imagecaption:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>In short, more years of work leads to increased income that further results in more retirement benefits.</p> </div> </div> </div> <p><a href="http://themoneytimes.com/featured/20101024/social-security-program-ways-maximizing-retirement-benefits-id-10131178.html" target="_blank">read more</a></p> http://themoneytimes.com/featured/20101024/social-security-program-ways-maximizing-retirement-benefits-id-10131178.html#comments retirement Retirement retirement benefits Social security program spousal benefit survivors benefit Top Story United States Sun, 24 Oct 2010 07:00:37 +0000 Anupreet Kaur 131178 at http://themoneytimes.com Retirement Planning: Making Savings Last a Lifetime http://themoneytimes.com/featured/20100909/retirement-planning-making-savings-last-lifetime-id-10127562.html <div class="field field-type-text field-field-teaser"> <div class="field-items"> <div class="field-item odd"> <p>Retirement comes with a range of positive and negative possibilities. You have the power to ensure that your golden years remain golden.</p> </div> </div> </div> <div class="field field-type-text field-field-lead"> <div class="field-label">lead:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>Wondering how to make your retirement savings last? It's all about managing money smartly.</p> </div> </div> </div> <p>George Foreman rightly said, “The question isn't at what age I want to retire, it's at what income.”</p> <p>Things may not necessarily happen as we anticipate them, thus planning is an effort to prepare for any possibility. </p> <p>Whether your retirement is a few decades or a few months away, planning for the same is very important. A well planned retirement minimizes retirement risks.</p> <p><strong>1. Minimize Taxes</strong></p> <div class="field field-type-filefield field-field-image"> <div class="field-items"> <div class="field-item odd"> <img src="http://themoneytimes.com/files/imagecache/picturethumb/retirement-calcualtor-couple1.jpg" alt="" title="" class="imagecache imagecache-picturethumb imagecache-default imagecache-picturethumb_default" width="180" height="120" /> </div> </div> </div> <div class="field field-type-text field-field-imagecaption"> <div class="field-label">imagecaption:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>The key to stretching retirement savings is setting priorities and living within finances.</p> </div> </div> </div> <p><a href="http://themoneytimes.com/featured/20100909/retirement-planning-making-savings-last-lifetime-id-10127562.html" target="_blank">read more</a></p> http://themoneytimes.com/featured/20100909/retirement-planning-making-savings-last-lifetime-id-10127562.html#comments annuity expenses financail planning imcome investment Money retirement Retirement retirement benefits retirement needs retirement risks savings taxes Top Story United States withdrawals Thu, 09 Sep 2010 06:46:12 +0000 Amanjot Kaur 127562 at http://themoneytimes.com 5 Tips on Last Minute Retirement Planning http://themoneytimes.com/featured/20100805/5-tips-last-minute-retirement-planning-id-10123359.html <div class="field field-type-text field-field-teaser"> <div class="field-items"> <div class="field-item odd"> <p>Road to retirement is not a smooth ride. Even if one starts early, issues like job loss, marriage, divorce, illness, mortgage payment, etc., take precedence, thus making retirement planning an arduous task.</p> </div> </div> </div> <div class="field field-type-text field-field-lead"> <div class="field-label">lead:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>In your fifties, and still unprepared for retirement? If so, it's time to jolt from the slumber and take quick actions.</p> </div> </div> </div> <p>According to the '2010 Retirement Confidence Survey' by the Employee Benefit Research Institute, though 69 percent American workers have saved for retirement, only 16 percent are very confident that they have enough money for a comfortable retirement.</p> <p>If you're among the 84 percent, and approaching retirement, don't repent for what has gone undone; instead, gear up to get retirement planning back on track. Here are a few tips:</p> <p><strong>1. Downsize Lifestyle</strong></p> <div class="field field-type-filefield field-field-image"> <div class="field-items"> <div class="field-item odd"> <img src="http://themoneytimes.com/files/imagecache/picturethumb/2_retirement_plans.jpg" alt="" title="" class="imagecache imagecache-picturethumb imagecache-default imagecache-picturethumb_default" width="180" height="120" /> </div> </div> </div> <div class="field field-type-text field-field-imagecaption"> <div class="field-label">imagecaption:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>Plan retirement to enjoy life and everything it has to offer after you bid bye to workplace.</p> </div> </div> </div> <p><a href="http://themoneytimes.com/featured/20100805/5-tips-last-minute-retirement-planning-id-10123359.html" target="_blank">read more</a></p> http://themoneytimes.com/featured/20100805/5-tips-last-minute-retirement-planning-id-10123359.html#comments assets bonds Budget care insurance employee expenses Health Insurance investment portfolio Lifestyle Medicare Money part-time jobs payments program retiree Retirement retirement savings shares survey Top Story trading United States working Thu, 05 Aug 2010 07:27:21 +0000 Kimberly Reid 123359 at http://themoneytimes.com Your Best Chance to Profit in 2009 http://themoneytimes.com/featured/20091108/your-best-chance-profit-2009-id-1090198.html <div class="field field-type-text field-field-teaser"> <div class="field-items"> <div class="field-item odd"> <p>If, after 2008, you still expect the stock market to fund<br /> your retirement, most people probably consider you a few<br /> Congressmen short of a bailout. (Zing!) Yes, it was tough<br /> being openly optimistic after a year in which every bull<br /> became a steer.</p> </div> </div> </div> <p>But there are a few perks -- like profiting from buying stocks at what could be some of the best prices you'll ever see.</p> <p> <strong>A brief history of 2008</strong><br /> <br />Last year was a<br /> fantastic demonstration of what happens when, in a highly leveraged<br /> world, everyone needs liquidity at the same time.</p> <div class="field field-type-filefield field-field-image"> <div class="field-items"> <div class="field-item odd"> <img src="http://themoneytimes.com/files/imagecache/picturethumb/Morgan%20Stanley_0.jpg" alt="" title="" class="imagecache imagecache-picturethumb imagecache-default imagecache-picturethumb_default" width="180" height="138" /> </div> </div> </div> <p><a href="http://themoneytimes.com/featured/20091108/your-best-chance-profit-2009-id-1090198.html" target="_blank">read more</a></p> http://themoneytimes.com/featured/20091108/your-best-chance-profit-2009-id-1090198.html#comments funds Investing Investing Markets Markets optimistic Profit Retirement stock market Top Story United States Sun, 08 Nov 2009 05:05:45 +0000 Richard Gibbons 90198 at http://themoneytimes.com Should You Go With Stocks or Bonds for Income? http://themoneytimes.com/featured/20091029/should-you-go-stocks-or-bonds-income-id-1089096.html <div class="field field-type-text field-field-teaser"> <div class="field-items"> <div class="field-item odd"> <p>The conventional wisdom is clear: Bonds are best for<br /> people in or near retirement. They provide the desired income<br /> and can be much more reliable than stocks. Well... yes and<br /> no, if you ask me.</p> </div> </div> </div> <p>Bonds do have some advantages. Those issued by the U.S. government<br /> offer income that's rather dependable. Even corporate bonds can be<br /> fairly reliable. That's a big deal, but beyond that, I'm having trouble<br /> coming up with other advantages. Oh, here's one more -- bonds can offer<br /> some diversification to your portfolio, as they don't always move in<br /> step with the stock market.</p> <p>Stocks, though, have many advantages:</p> <div class="field field-type-filefield field-field-image"> <div class="field-items"> <div class="field-item odd"> <img src="http://themoneytimes.com/files/imagecache/picturethumb/nyse%20market_8.jpg" alt="" title="" class="imagecache imagecache-picturethumb imagecache-default imagecache-picturethumb_default" width="180" height="135" /> </div> </div> </div> <p><a href="http://themoneytimes.com/featured/20091029/should-you-go-stocks-or-bonds-income-id-1089096.html" target="_blank">read more</a></p> http://themoneytimes.com/featured/20091029/should-you-go-stocks-or-bonds-income-id-1089096.html#comments Bonds dividends income Markets Retirement Shareholder stocks Top Story United States Thu, 29 Oct 2009 06:02:46 +0000 Selena Maranjian 89096 at http://themoneytimes.com 5 Pointers on Planning your Retirement http://themoneytimes.com/featured/20090623/5-pointers-planning-your-retirement-id-1073718.html <div class="field field-type-text field-field-teaser"> <div class="field-items"> <div class="field-item odd"> <p>For some, the ideal retirement may be sitting near the door steps of their house and watching the grandchildren play, for others it might be traveling around the world. Or it may be somewhere between these two extremes.</p> </div> </div> </div> <div class="field field-type-text field-field-lead"> <div class="field-label">lead:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>It makes good sense to plan your retirement early on in life. Like NOW. </p> </div> </div> </div> <p>Regardless of your idea of an ideal retirement, you need finance to retire. The following pointers will come in handy while planning retirement, vis-à-vis finances:</p> <p><strong>1. Review your Finances</strong><br /> Consider your income and expenditure. Since the economy is undergoing a downward spiral, it becomes imperative to factor in market fluctuations, job losses and falling incomes. </p> <div class="field field-type-filefield field-field-image"> <div class="field-items"> <div class="field-item odd"> <img src="http://themoneytimes.com/files/imagecache/picturethumb/158_Retired-couple.jpg" alt="" title="" class="imagecache imagecache-picturethumb imagecache-default imagecache-picturethumb_default" width="180" height="143" /> </div> </div> </div> <div class="field field-type-text field-field-imagecaption"> <div class="field-label">imagecaption:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>Social security benefits vary according to your earnings and the age you retire in. Higher the earnings and the later you retire, more are the benefits</p> </div> </div> </div> <p><a href="http://themoneytimes.com/featured/20090623/5-pointers-planning-your-retirement-id-1073718.html" target="_blank">read more</a></p> http://themoneytimes.com/featured/20090623/5-pointers-planning-your-retirement-id-1073718.html#comments Retirement retirement Top Story United States Women's Corner Tue, 23 Jun 2009 14:06:47 +0000 Jaspreet Virk 73718 at http://themoneytimes.com Give Your IRA a 20% Boost http://themoneytimes.com/articles/20090127/give_your_ira_a_20_boost-id-1048570.html <div class="flexinode-body flexinode-3"></div> <p><a href="http://themoneytimes.com/articles/20090127/give_your_ira_a_20_boost-id-1048570.html" target="_blank">read more</a></p> http://themoneytimes.com/articles/20090127/give_your_ira_a_20_boost-id-1048570.html#comments Investing Retirement Tue, 27 Jan 2009 06:58:25 +0000 Motley Fool 48570 at http://themoneytimes.com Stiff the IRS for the Next 100 Years http://themoneytimes.com/articles/20090124/stiff_the_irs_for_the_next_100_years-id-1048360.html <div class="flexinode-body flexinode-3"></div> <p><a href="http://themoneytimes.com/articles/20090124/stiff_the_irs_for_the_next_100_years-id-1048360.html" target="_blank">read more</a></p> http://themoneytimes.com/articles/20090124/stiff_the_irs_for_the_next_100_years-id-1048360.html#comments Investing Retirement Sat, 24 Jan 2009 09:53:23 +0000 Motley Fool 48360 at http://themoneytimes.com Prepare for a Gruesome Retirement http://themoneytimes.com/articles/20081201/prepare_for_a_gruesome_retirement-id-1043115.html <div class="flexinode-body flexinode-3"></div> <p><a href="http://themoneytimes.com/articles/20081201/prepare_for_a_gruesome_retirement-id-1043115.html" target="_blank">read more</a></p> http://themoneytimes.com/articles/20081201/prepare_for_a_gruesome_retirement-id-1043115.html#comments Retirement Mon, 01 Dec 2008 06:49:49 +0000 Selena Maranjian 43115 at http://themoneytimes.com
Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: Table './themoney_2011new/watchdog' is marked as crashed and last (automatic?) repair failed query: INSERT INTO watchdog (uid, type, message, variables, severity, link, location, referer, hostname, timestamp) VALUES (0, 'php', '%message in %file on line %line.', 'a:4:{s:6:\"%error\";s:12:\"user warning\";s:8:\"%message\";s:317:\"Table &#039;themoney_2011new.accesslog&#039; doesn&#039;t exist\nquery: INSERT INTO accesslog (title, path, url, hostname, uid, sid, timer, timestamp) values(&#039;&#039;, &#039;taxonomy/term/37/all/feed&#039;, &#039;&#039;, &#039;54.146.194.42&#039;, 0, &#039;ea22cd6d77878a673d7d5e4f24da19b8&#039;, 1344, 1454710051)\";s:5:\"%file\";s:63:\"/home/themoney/public_html/modules/statistics/statistics.module\";s:5:\"%line\";i:63;}', 3, '', 'http://themoneytimes.com/taxonomy/term/37/all/feed', '& in /home/themoney/public_html/includes/database.mysql.inc on line 135