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Credit Mistakes That Could Ruin Your Nest Egg

Credit Mistakes That Could Ruin Your Nest Egg | Financial News | 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:

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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Lynette Ball's curator insight, September 29, 2013 3:43 PM

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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Is A Reverse Mortgage Better Than Keeping A Traditional Amortizing Mortgage In Retirement?

Is A Reverse Mortgage Better Than Keeping A Traditional Amortizing Mortgage In Retirement? | Financial News | Scoop.it
While the current low-yield environment has presented significant challenges to retirees trying to generate retirement income, the upside is that low yields have also driven down borrowing costs to record lows.

Via AdvisoryQuest
Lynette Ball's insight:

An 8% average growth rate is not in my experience how the typical New Zealander would invest. As a nation we are extremely conservative with a large percentage of investments held in bank and bond investments.  Currently the return of investment are much lower than the mortgage rate of interest.  Thus if you are thinking of taking a lump sum in cash you need to think about how you are going to invest it.

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Rise in people planning to sell property to fund retirement - ifaonline mobile

Rise in people planning to sell property to fund retirement - ifaonline mobile | Financial News | Scoop.it
Rise in people planning to sell property to fund retirement http://t.co/DNNz5p8Rv2
Lynette Ball's insight:

With property being such a large part of our assets and with us living longer it is no wonder that people need to sell this to support retirement.  In my experience it has been the rental properties and beach homes which are being sold, however in the future if property prices increase further it may be the family home.  Alternatively people are starting to look at reverse mortgages when all other assets have been utilised  and using the family home as security.  There a number of  providers in the NZ market and we may see this side of the market explanding if retirees wish to remain in their current home.

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Optimistic About Their Financial Futures, Gen Y Saving Earlier and Planning Now for Retirement - DailyFinance

Optimistic About Their Financial Futures, Gen Y Saving Earlier and Planning Now for Retirement - DailyFinance | Financial News | Scoop.it
Optimistic About Their Financial Futures, Gen Y Saving Earlier and Planning Now for Retirement Implementing (Estate planning is no different, begin planning for your future.
Gen Y Saving Earlier and Planning Now for Retirement
Lynette Ball's insight:

With the rising prices of housing in NZ, Gen Y’s are so focussed on purchasing their first home and retirement planning is a much lower priority.  KiwiSaver has made a small change in this behaviour but unfortunately not enough.  As a nation we borrow huge amounts to purchase the dream family home and as long as house prices remain at this level or go higher this challenge will continue.

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Kiwis must be responsible for own investments | Stuff.co.nz

Kiwis must be responsible for own investments | Stuff.co.nz | Financial News | Scoop.it
New Zealanders need to be weaned off a "culture of blame and dependency" when financial investments go sour, the chief executive of the Financial Markets Authority has said.
Lynette Ball's insight:

This article highlights the importance of reviewing your investments.  As a adviser I am suprised how at times I struggle to get clients to come in and do their reviews.  Most people see the review process is where the adviser provides an updated valuation, how the investments have performed and information on how the funds are invested, but as an adviser I see the review process as being so much more than this.

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Most Dangerous Ways to Open a Wine Bottle

Most Dangerous Ways to Open a Wine Bottle | Financial News | Scoop.it
You know, just some ideas if you don't have a corkscrew handy but you do have a samurai sword (RT @thedailymeal: Most Dangerous Ways to Open a Wine Bottle: http://t.co/Pc0fQqaray)...
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Financial Literacy and Your College Student—Why It Matters ...

Financial Literacy and Your College Student—Why It Matters ... | Financial News | Scoop.it
Financial Literacy and Your College Student—Why It Matters Very soon, your high school.
Lynette Ball's insight:

Last month Waikato Times quoted Waikato's debt exceeded$1 billion dollars. Close to 58,000 student borrowers listed with Waikato addresses owe a total of $1,014.63 million - an average debt of $17,494 per borrower.Waikato is the fourth most indebted region, behind Auckland, Wellington/Manawatu and Canterbury/West Coast.  I like the idea of sharing household expenses with your teenages so they get an understanding of what things actually cost

 

http://www.stuff.co.nz/waikato-times/news/8755868/Waikatos-billion-dollar-student-loan-burden

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Retirement Savings: Are We There Yet?

Retirement Savings: Are We There Yet? | Financial News | Scoop.it
Bulletin Today | WorkOK, so maybe you won’t be buying a second home in Aspen in retirement. But a new analysis of our 401(k) plans suggests we’re inching closer to other retirement goa...
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Nest Eggs at Risk as Families Shun Discussing Financial Matters - Business Wire (press release)

Nest Eggs at Risk as Families Shun Discussing Financial Matters - Business Wire (press release) | Financial News | Scoop.it
Nest Eggs at Risk as Families Shun Discussing Financial Matters Business Wire (press release) BOSTON--(BUSINESS WIRE)--Families would rather discuss health, religion or politics than money, according to the latest results from the MFS® Investing...
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Why Retirement Planning is Important by D. Victor | Money Matters 360

Why Retirement Planning is Important by D. Victor | Money Matters 360 | Financial News | Scoop.it
Retirement planning is not an activity that is undertaken for its own sake. It is just a means to an end. It represents a way to accumulate enough retirement savings (Top 5 reasons why retirement planning is necessary - by D.
Lynette Ball's insight:

Day to day life is often enough of a challenge without having to worry about the future.  But don’t leave it too late as you don’t want your future lifestyle to be comprised because you haven’t provided enough.  It is once again about that perfect balance!

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Jeff Matthews - $50 a week - is it worth saving? - Grownups New Zealand

Jeff Matthews - $50 a week - is it worth saving? - Grownups New Zealand | Financial News | Scoop.it
Getting into debt can be dangerously easy.
Lynette Ball's insight:

Although this article was written a while ago when interest rates were higher it is apparent that the fundamentals of creating financial freedom don't change.  If you wish to be financially free getting rid of your debt is step one.  Even as small as $50 makes a difference.

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Planning for a generation that will live past 100

Planning for a generation that will live past 100 | Financial News | Scoop.it
BOSTON (Reuters) - More than half of the babies born today may expect to live past the age of 100, according to the U.S.
Lynette Ball's insight:

Living to 100 and being a women that sounds awful to me.  This week I was reminded to accept who I am and the fact I am getting older.  Hopefully I won't be living to 100, but with the social pressures of looking good and also the requirement of funding for your future, what pressure. My best part of this article is to try and put a little aside each week as I feel thats within my control.

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For a better retirement, act more like your wife

For a better retirement, act more like your wife | Financial News | Scoop.it
Men and women differ in several important aspects relating to retirement planning, yet each can benefit by adopting the best traits of the other.
Lynette Ball's insight:

The importance of couples jointly planning their retirement can never be underestimated.   We all think differently and having two minds working to solve an issue will always result in a better outcome. I agree with some of these points in the article but in my experience the issue of how to invest or planning isn’t gender related but is driven by who looks after the finances in the household, as this person is more confident seeking less advice.

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It's Time to Turn Retirement Planning Upside Down

It's Time to Turn Retirement Planning Upside Down | Financial News | Scoop.it
When it comes to retirement, most busy professionals go right to the bottom line and want to know how much they will need to live “comfortably,” so they can move on to the next task on ("What if every day was Saturday?
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Does gold price collapse signal a vote in economic confidence? - The Guardian

Does gold price collapse signal a vote in economic confidence? - The Guardian | Financial News | Scoop.it
The Guardian
Does gold price collapse signal a vote in economic confidence?
The Guardian
In principle, holding gold is a form of insurance against war, financial Armageddon and wholesale currency debasement.
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Pension planning: Chart retirement course early, experts say

Pension planning: Chart retirement course early, experts say | Financial News | Scoop.it
To hear financial advisers tell it, you should start planning your retirement the second you start to receive lunch money.
Lynette Ball's insight:

The world population is aging  and this article highlights that NZ is  no different to Canada.  By 2051, 25% of the population will be over 65 in NZ.  The question is can you really count on NZ Super to fund portion of your retirement if you are under 50.

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7 wines for the barbecue: The affordable picks will do you proud - Los Angeles Times

7 wines for the barbecue: The affordable picks will do you proud - Los Angeles Times | Financial News | Scoop.it
7 wines for the barbecue: The affordable picks will do you proud Los Angeles Times With all the running around before the Fourth of July -- shopping, cleaning the grill, making sure the barbecue is working and laying in hardwood charcoal or...
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NZ Super sees value in small, growing firms - Radio New Zealand

NZ Super sees value in small, growing firms
Radio New Zealand
The New Zealand Superannuation Fund will invest up to $40 million into a $150 million fund aimed at expanding local companies.
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