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Credit Mistakes That Could Ruin Your Nest Egg

Credit Mistakes That Could Ruin Your Nest Egg | finance | Scoop.it
Yes, just like clockwork it happened again this year: I got older. As of this week, the Beatles song, "When I'm Sixty-Four," went from being a hypothetical to a reality for me. This means that next year, I will officially become a senior citizen.
Lynette Ball's insight:

Use your credit card as a debit card, think twice before increasing your debt, avoid co-signing loans for loved ones and most importantly seek advice when you aren't sure....

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Lynette Ball's curator insight, February 17, 2014 2:18 PM

I know people say you need to make your own mistakes to learn.  But at what cost.  If you are in your 40's look at some mistakes that the next genration have made which have altered their lives and try avoid it, so that you can have a the life you want.

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Pensioner crisis as care costs hit £30,000 a year | Retirement | News | Daily Express

Pensioner crisis as care costs hit £30,000 a year  | Retirement | News | Daily Express | finance | Scoop.it
PENSIONERS face a bill of almost £30,000 a year if they need to go into residential care, a shock survey reveals today.
Lynette Ball's insight:

Cost of rest home care is certainly on the rise where a colleague of mine advised that his dad’s care in a rest home on the North Shore had gone up 8% from the previous year.  The daily rate of $125.17 or $45,561 per annum is certainly not something to sneeze about and this is at the cheaper end of rest home care costs.  It highlights to me that we can’t have the mentality to “spend up large in early retirement as in our 80’s we won’t do as much travel”.

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Southeast Asia: 4 Options for Enjoying the Most Affordable Retirement on Earth

Southeast Asia: 4 Options for Enjoying the Most Affordable Retirement on Earth | finance | Scoop.it
English is widely spoken in the region, the culture is exotic and the people are delightfully welcoming.
Lynette Ball's insight:

I have met a number of immigrants who came to NZ to retire, but will we see an increasing trend of New Zealanders moving to another country (excl Australia) to retire?  My ex boss moved decided to retire in Thailand as he said the climate suited him better and the Thai people were so friendly.  For more information regarding what affect this will have on your NZ Superannuation see http://www.workandincome.govt.nz/individuals/how-we-can-help-you/travelling-or-migrating/pension-going-overseas/residing-overseas.html

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How to Start Saving for Retirement Now: 5 Tips for 20-Somethings - DailyFinance

How to Start Saving for Retirement Now: 5 Tips for 20-Somethings - DailyFinance | finance | Scoop.it
How to Start Saving for Retirement Now: 5 Tips for 20-Somethings
DailyFinance
A young man anayzing his money or his finances (shallow DOF with focus on eyes Getty Images If you're in your 20s, retirement can feel like it's a lifetime away.
Lynette Ball's insight:

This article highlights how consistently investing over 40 years period reaps rewards.  For NZ Investors you could use KiwiSaver as here your employer will contribute 3% to match your 3% plus the $521 tax credits.  This is all bonus dollars that you didn't need to save yourself.

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The kids aren’t buying homes

The kids aren’t buying homes | finance | Scoop.it
Millions of young Americans are unemployed or underemployed, living with roommates or at home with Mom and Dad — instead of buying homes of their own, a new study found.
Lynette Ball's insight:

If you are a parent and hoping that your kids will leave home soon after graduating, this isn't happening as generation Y are choosing to live with Mum and Dad  for longer.  Why? In NZ housing is so expensive that it makes if often unaffordable and in America they don’t see housing as good as an investment as it was 30 years ago.

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Retirement planning doesn't require a windfall - CBS News

Retirement planning doesn't require a windfall - CBS News | finance | Scoop.it
Retirement planning doesn't require a windfall
CBS News
Both families have planned for retirement. One is financially secure.
Lynette Ball's insight:

We all dream about winning lotto as we believe this will be a solution to solving all our financial problems.  But this article highlights an important point, a lot of people live the lifestyle based on their pay cheque instead of focussing on keeping more.  Here are some great tips on ways to creating financial freedom.

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One in 8 workers will never retire - CNN - Canada

One in 8 workers will never retire - CNN - Canada | finance | Scoop.it
IBTimes.co.uk One in 8 workers will never retire CNN - Canada "Generating an adequate income in retirement remains a major challenge for most people, given the financial conditions created by the global economic downturn," HSBC head of wealth...
Lynette Ball's insight:

Gosh - I don't want to work forever and who does?  I certainly want financial freedom to do as I please and as the golden ticket didn't pay out for me last night,  I will need to maintain my current plan of

squirreling a little savings away each month.

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Bernard Hickey sees a 'vortex of decline' for provincial New Zealand ...

Bernard Hickey sees a 'vortex of decline' for provincial New Zealand ... | finance | Scoop.it
New Zealand's most popular independent financial site, interest.co.nz Helping you make financial decisions. ... LATEST NEWS: What your bank manager should ask ....
Lynette Ball's insight:

An interesting article explaining why house prices in big cities are increasing versus small towns that are declining. 

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What To Do With Cash: Pay Off Debt Or Invest? | Equifax Finance Blog

What To Do With Cash: Pay Off Debt Or Invest? | Equifax Finance Blog | finance | Scoop.it
What To Do With Cash: Pay Off Debt Or Invest? (Most of life’s emergencies can be taken care of with less than $1,000. Are you prepared?
Lynette Ball's insight:

Have you received a Bonus?  I came across this article that provides ideas on what you can do with your extra cash, to ensure that it works as hard for you as you worked for it.

 

 

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How Much You Should Save for Retirement, Based on 139 Years of ...

How Much You Should Save for Retirement, Based on 139 Years of ... | finance | Scoop.it
With the stock market constantly rising and falling, it's hard to predict what kind of luck you'll have when you retire and how much you should be saving so you don't run out of money. One financial expert, however, has found ...
Lynette Ball's insight:

My thoughts are the most important thing is to start planning now.  Even if you can't afford to save at this rate something is better than nothing.  Look at what you spend and see what you can afford to save.  Ask yourself the hard question , "Do you really need this?" But don't make your life miserable.

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Retirement of Baby Boomers at Risk

Retirement of Baby Boomers at Risk | finance | Scoop.it
Little savings, low yields mean the baby boomer generation's biggest challenge lies ahead.
Lynette Ball's insight:

Baby boomers retiring in NZ are faced with the same challenges as American’s.  The retirement funds over the last 10 years haven’t performed well resulting in  their projected amount being  well below the actual value they realising now.  Further when rebalancing the portfolio to provide for less volatility and an income, bond yields and cash rates are so low creating further financial pressures on these retirees.

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