Retirement Annuity – A Financial Means to Live Life Happily

Undeniably, there are several retirement policies to consider in the global economic market. Once you start ransacking the online search engines, you come across numerous financial policies that have been designed to keep retirees financially secured throughout their retirement period. One such monetary scheme is annuity that can be accessed only on making an agreement with an insurance company. Once the contract is successfully made, the insurance company will keep providing a regular income to the annuitant till the policy matures. There are many retirees who buy annuity schemes with the intention to give proper shape to their finances that can help them strengthen their financial abilities during the postretirement period. Well, you can do the same only after proper research work.

Types of Annuity Schemes

Now, there are different types of retirement annuity plans – Fixed and Variable.
  • Fixed – The annuity plans under this category are usually invested in conservative vehicles or the bond funds used by an insurance agency. In fact, one is not required to spend time in handling the investing after the payment of the premium. This entire task will be handled by the insurance company singlehandedly.
  • Variable – The rate of interest can never remain stable in case of a variable annuity. It all depends on the market conditions whether the interest rate for variable annuities will rise or fall.

Which is Safer – Variable or Fixed

Annuity professionals now opine that a variable annuity is the best financial policy that can let retirees obtain potential gains. However, risks are certainly involved since variable annuity holders will have to remain in anxiety whether the market conditions experience any turmoil. Once it happens, their interest rates will be lowered and consequently, their income will be reduced to a good extent. In this respect, a fixed retirement annuity is still a safer option since you will enjoy a fixed rate of interest till your annuity contract comes to an end.

Look for Good Insurance Companies

Remember, a good insurance company will allow you to set a time period of your choice. However, annuitants prefer to pay off the annuities over a time period of five, ten or maximum fifteen years. In this context, lifetime annuity is certainly a superb option since the annuitant gets an assurance that he/she can now live significantly longer than average. If the annuitant however dies before the completion of the term set in the contract, he/she will not get the extra funds hidden in the premium.

Check & Compare Retirement Annuity Rates

The annuity rates vary from one insurance company to another. The better the rates, the greater are the returns. However, there are several factors that determine how good the returns can be. The insurance company’s management overhead; the role of investments; the number of customers; the condition of the business etc are some of the prime factors that actually judge the nature of your returns. So, research accordingly and find a good insurance company to buy a retirement annuity policy.
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Calculate your Annuity Payouts with an Annuity Calculator

So, what are your postretirement plans? Are you planning to depend on pensions throughout your entire life? If it be so, are you aware of the interest rates which will determine your income at the end of every month? Now, it’s no doubt painful to knock your pension department every month to check whether your payments are ready. So, why take pains and suffer unnecessary delay in your regular income? In fact, annuities can help you make your life smoother and keep you financially stable.

An annuity payment is synonymous to a loan payment provided by an insurance company. Many annuitants however come up with questions related to payment calculations. Since these schemes are new to many retirees, proper researches should be done to know how much one can possibly draw in respect to a certain time period. So, the best thing that can only help you calculate annuity payments is an annuity calculator. Now, the question is how to correctly calculate the payments with the help of such a specialized calculator.

So, here are some instructions that can help annuitants calculate their earnings with the help of an annuity calculator:

Know your policy 

As a matter of fact, a certain portion of the money comes as a part of interest and the rest of the amount is treated as the principal. On receiving the annuity payment, the annuitant pays the tax for a certain portion, that is, the interest. Once the money is invested in annuity, one cannot access the principal since it acts as the steam of payments.

Calculate your life expectancy

For providing an annuity scheme, an insurance company follows a projected life expectancy chart designed on the basis of a massive population. Now, the insurance company is certainly unaware of the fact whether you are well or not. However, the numbers are based on the average. Women are considered to live more than men and therefore, they get the maximum annuity payments than men.

Ask for annuity rates

Although 6% of an annuity is paid in the accumulation phase, one is not required to pay the same rate of interest on liquidizing a portion of it. The insurance company takes the liberty to raise and reduce the interest rates during the accumulation period. Therefore, it’s advisable to know beforehand the rates offered by insurance agencies.

Avoid formulas to make Calculations Easier

Calculating annuity payments using formulas can be confusing. Rather, get an annuity calculator. This will help you calculate the exact amount you can possibly earn at the end of your set time period. However, if you think that you are not able to use such calculators flexibly, you can always get in touch with an annuity professional online.

So, do your researches well, choose your preferred annuity policy and order an annuity calculator online today so that you can assure financial stability for your family members.
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Profiting in Hard Times with Forex Trading

The recession has left many businesses and currencies at the brink of collapse. With experts predicting the Euro will not survive the year intact, it is hard to see how investors can succeed within the current economic climate. However, many keen traders and Forex brokers see Forex trading as a viable option for profiting in hard times as well as during periods of economic stability. Many traders are realising that they can benefit from markets suffering as they trade on the fluctuations that inevitably come with currency values.

Forex traders can trade both falling and rising markets so there are opportunities to turn a profit whether the markets go up or down. Individual traders attempt to maximise their profit on each trade by trading at the right time. Forex traders can select a currency pair that they expect to change in value and trade according to their market predictions. Should a trader choose to end their trade, the Forex broker will credit their account with a loss or gain.

In order to achieve their financial goals, both novice and experienced traders must research trades which they believe may be opportunistic. Forex traders must investigate the currency pairs and current worldwide events that may affect their stability. Learning about how financial markets can impact each other is often the best way to ensure you trade successfully whether profiting or avoiding financial loss.

The Euro remains resilient despite predictions by financial experts of an imminent collapse. By monitoring how the Euro is currently changing in value, Forex traders can trade on the market going down and profit from ending their trade at the right moment. A genuine trading method like this can give you better chance of making large gains on the Forex market despite the plummeting currency.

Forex traders must maximise their trading with the most appropriate FX trading platform for their needs. In order to avoid losses, Forex traders must look for reliable Forex trading platforms that contain accurate and timely technical analysis of the foreign exchange market. Access to high quality analysis and current financial trading news can help traders make the most profitable financial decisions.

Because Forex trades 24 hours a day, monitoring their financial position is crucial to traders looking to maximise their trading opportunities. With a close eye on the market, traders can exercise greater control over their trade by knowing when best to place and end a trade.
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Personal Finance Resolutions for 2012

Another year has passed. Unfortunately while many people had lost their homes, jobs and money in the stock market during last year, it may seem almost hopeless to make any personal finance resolutions for 2012, or is it? There is hope, and with practical steps there are ways you can begin to immediately save money, and even invest in 2012.

Ways to save money during 2012

People are frantically searching for ways to protect and save their hard earned money this year like never before. Because of all the government bank bail-outs, banks no longer inspire people to invest. On the contrary, the current financial situation in America has inspired people to save money in 2012.

Credit Cards – One of the first personal financial resolutions for 2012 should be to get the lowest possible interest rates on any loans or credit cards you may have. In this way, you can save a little or a lot of money each month, which can add up to big saving over the course of a year.

You can do this by transferring existing credit debt, if possible, to a 0% credit card, even if it is only for a few months to take advantage of the low interest rate. Once the 0% credit promotion has expired, you can then either transfer the credit to another card with 0% or if your credit is ok, apply for another card or loan that has 0% interest rate.

In this way you could possibly avoid paying interest on your loans and credit cards for six months or more, and then use the money you save to pay down your credit faster. Your ultimate financial goal for 2012 should be to pay down your debt, and ultimately eliminate it.

Tax efficient savings account -- Depending on how much savings you may have stored up, you should find out how much tax you are paying on your interest, so you don’t have to pay more than you have too. Usually a normal savings type of an account will be taxed at a regular or standard rate, while some creative savings schemes have been known to pay nothing in tax.

How to spend less in 2012

Make a list – It is amazing to discover that many people don’t have a set or fixed budget. Whether you have a budget or not, making a list of your daily expenditures is a great way to see where every penny you spend goes each day. In this way you can get an idea of what necessary and no essential things you buy daily. Once people do this, they are amazed how much money they spend each month on non-essential items and activities.

Controlling spending may seem hard at first, but your goal is to save as much money as you can, while at the same time paying down your debt each month to meet your personal finance resolutions for 2012.

Cancel auto-payments – You may want to re-evaluate any monthly or yearly auto-payments on your credit cards and PayPal account. You may be able to do without some of the monthly or yearly services and subscriptions you have. The money you save from cancelling them, along with the few dollars saved cutting back on daily miscellaneous spending can add up to a lot.

Now-a-days people are shocked to discover with regularity auto payments being taken from their PayPal accounts from services or subscriptions they assumed where cancelled months earlier. This can be a hole in the boat of any attempt at saving money.

Cut your monthly bills in 2012

If you’re looking to find some personal finance resolutions for 2012, then look no farther than your utility bills. In some regions domestic fuel prices skyrocket more than 20% last year alone! Turning off unnecessary lights whenever possible can save more than you realize.

Using lower watt bulbs, using solar lights outside your home and tinting your windows are all effective ways of whittling away at your utility bill each month. Installing a programmable thermostat for the winter and summer months when you’re sleeping or not in the house is a great way to reduce you energy bill as well.

Your auto insurance in 2012

Surprisingly, most people feel like they have good, or great insurance for their vehicles, but the truth is that most people pay too much for basic car insurance. Changing insurance could save a few hundred a year, especially if you pay yearly rather than monthly to avoid extra charges.

You can’t depend on the government or anyone else to help you save money during these difficult times. So, are you willing to make these part of your personal finance resolutions for 2012? Your financial future is up to you.

Isaac writes for a host of UK business on subjects from total reward statements to successful entrepreneurship. In his spare time Isaac cycles and studies.
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Pension Transfer Advice – Secure Your Future

If you are concerned with the future and your financial situation after you have left the world of work, this is a good thing. Too few people nowadays think about how they will fund their lifestyle when they reach retirement age and such people could find themselves without adequate income if they do not plan for the future with a pension. Some pension funds are better than others too, and subsequently for people who do have a pension, a pension transfer can be in their best interests.

The Importance of a Pension

The government and other official organisations are trying to impress on people the importance of pensions. This advice is aimed particularly at young people as there are many who do not have a pension plan at all. The sad truth is that if these people do not get themselves sorted with a pension, they will find themselves poor in old age – a time of life when people want to be comfortable and to feel secure.

It is therefore essential that people start to think about pensions as something that they do need, rather than imagine that something will come up by the time they are ready to retire. Usually this something doesn’t come up so it is wise to plan ahead.

Pension Transfers

If you already have a pension then that’s obviously good news; however, there may be a better pension out there for you. Pension products vary widely as they are intended to cater for people with differing circumstances and needs. This means that there may be a pension that is more suited to your situation. Don’t feel that you are trapped with your current pension provider as it is very possible and relatively easy to do a pension transfer, and there is a lot of pension transfer advice available.

Where to Find Pension Transfer Advice

Pension transfer advice can be found in all sorts of places, from websites such as this to with companies that specialise in pension transfers. It is wise to do your research and it pays to read-up on the different pension products currently on the market before making any decisions. Scouring the market can also help you transfer your pension without having to pay a fortune, as there are firms that will do it for a very fair price. Transferring your pension is also an investment so you should consider the potential benefits of moving providers in the future.

A Secure Retirement

If you want to have a comfortable retirement then a good pension to suit your circumstances is an absolute must. This could involve getting a pension in the first place if you do not have one now – and that is something that you should start looking into today. If you do have a pension already then a pension transfer could be prudent, to maximise the amount you will accrue and have to enjoy when it is time to leave work for the last time. With adequate funds your retirement could hold adventure, travel and fun, so start planning now.
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