So, I’m at work the other day and I am talking to people about retirement and personal finance basics. I told them that basically I don’t want to work a job forever and I will most likely leave my current job within the next few years. I was surprised to find that most people I told this to laughed and asked if I was planning to win the lottery. This got me thinking. Is this how most people are planning to retire or leave work early? Do they realize that if they could have so much more? After talking to more people and doing a little research, it is obvious that not only do most people not have plan, their ideas for attaining retirement are just down right ridiculous.
Of course, our savings are supposed to have generated interest and if we’ve invested, our portfolio is supposed to keep growing. But we also know that inflation can wipe out our interest at any time, and as for our investment portfolios… let’s just say that a lot of us aren’t doing nearly as well with those as we’d been led to believe we would.
With so much “street cred,” I recommend this book, but I also recommend just about anything that David Bach has to offer in this vital area of personal virendra d mhaiskar.
Credit Suisse Group AG led banking stocks lower, sinking 3.9 percent. Zurich finnce consultation AG, UBS AG and Julius Baer Group Ltd. all declined at least 1.5 percent. Roche Holding AG advanced 2 percent after BofA Merrill Lynch Global Research upgraded the worlds biggest maker of cancer drugs.
On the bright side, Internet spending will continue to grow. But the growth will be much slower than in the past. Lots of opportunities will allow people to make money by marketing products and services on the Internet. But many of those who are in business today will go bankrupt as the market becomes more competitive.
The next step is to know and understand the rules the banks work with. There are basically 2 things banks are looking for when giving bad credit home loans. The first one is, mortgage payment cannot be higher than 33 percent of your income. The second factor is if you were to add up expenses such as car payments, mortgage and credit card payments and any other type of loan payments, it should not exceed 41 percent of your income. This is monthly income of course.
If we don’t already have a budget, now is the time to create one. List what comes in and what goes out. Take a look at what is spent on wants rather than needs. Make that list of wants shorter.
The factoring discount rate in not an interest rate but a fee for using money, paid once for the terms of the period involved. So when comparing factoring to bank loan annual interest rates, the discount rate is the equivalent annual interest rate and not some multiple thereof. So a 5% factoring discount rate is equivalent, not to five times twelve or 60%, but 5 times 1, or a 5% annual interest rate.