Posts Tagged ‘amount’

Calculating the Cost of Retirement

August 1st, 2011

The answer to “How much money will I need for retirement?” is not straightforward. You have to consider not only when you will retire, but also how you will live during retirement. Do you want to retire in 10 years or 20 years, and when you do retire, are you going to sell your house and live on a boat or buy a small piece of farmland and grow prize-winning strawberries.

Are you looking to save money to leave for your children or a charity, or spend the money you’ve spent your whole life accumulating.

Common wisdom suggests you’ll need 80% of your pre-retirement income once you retire, but this statistic is both confusing and inaccurate for the majority of those that are actually worried about their retirements. Sure, if you’ve got a forced pension you may find your needs (and options) taken care of, but for everyone else we are left with one of the most important decisions of our lives – when to stop working and enjoy the fruits of our labor.

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Financial Advisory Service In The News

July 5th, 2011

Managing your personal finance should not be a difficult task even if you are not financially intelligent. There are experts who specialize in every discipline of life including all areas of finance. So if you need to step up your financial game, you will need to talk to an expert in this field of endeavor.

The importance of meeting with a financial advisor cannot be overemphasized for the reason that it helps you become more knowledgeable in the area of finance and money management. Money and Financial issues are so complicated that so many people have little or no understanding of the subject which is the main reason why they are financially stranded. Most people think that having more money will solve their financial problems which is totally wrong. All they need is an advisor who will help them understand their situation and give them a plan that will eventually get them to the level of financial success.

A major issue is that a lot of people believe that only high net-worth individuals make use of the services of financial advisors which is not very true. It is true that some financial advisors would only attend to wealthy clients but most will attend to anyone who needs their services without much ado. It is usually the charges of these advisors that scare prospective clients away which should not be. Financial advisors are usually compensated in various ways which include:

Payment of fixed fee: in this case a certain amount of money is charged hourly or based on a particular project. They will meet with the client one on one to interview, asses, and advice so as to be able to forge a financial strategy that will take them from point “a” to point “b”.

» Read more: Financial Advisory Service In The News