Entries Tagged as 'retirement'

Why No Credit Check Payday Loans Are Popular

One of the best features about payday loans is that they are no credit check payday loans.  This opens up borrowing cash to just about anyone, regardless of past credit history.  It is a good option for those who have had previous credit problems or who have a poor credit history.  It is necessary for most people who want to get payday loans to have an active bank account, show proof of regular income, and be an adult. 

The payday loan industry is not regulated by the government in the same manner as regular financial institutions like banks or credit unions.  They can charge extremely high interest rates, virtually whatever they want to charge.  This does not matter to someone who needs money fast for an emergency medical bill or car repair.  On a typical loan until a next payday, the interest fee runs between 15% and 25% on average for a cash advance payday loan. Looked at on an annual basis, this could be in the hundreds to thousands of percent for the loan. 

There is no credit check, but the payday loan industry does have their industry check system.  If you have previously defaulted on a payday loan, you most likely will be denied another.  At some lenders, if you had to make a payment plan to settle out and pay off a previous payday loan, they keep records and will not extend you another loan.  This makes sense because the types of loans they make are high-risk loans that are taken out by people who have a history of not making payments.  For the higher risk they take, payday loan businesses charge very high interest rates. 

This industry is obviously thriving and popular; there are payday loan stores everywhere around the country.  Millions of no credit check payday loans are made each day, 24/7, including over the Internet.  Many who use payday loans find that they must continue to use payday loans every month.  A poor money manager, someone who is experiencing a work shortage, or those who cannot budget or pay bills in a timely manner continue the bad habit of taking out repeat loans again and again.  This can be a difficult trap to get out of, and for this reason the government has placed some limitations on the number of concurrent payday loans people may take out in some states. 

No credit check payday loans do serve a welcome purpose to many borrowers.  It is a money maker that is backed by some of the same financial institutions who are unable to charge high interest fees for the loans they make in their regular banks or credit unions.  Those who use this service enjoy having it available, especially in an emergency.  There are positives and negatives to no credit check payday loans; the borrower must decide if the fees are worth the expense.  The other option for those borrowers is to either locate additional income to pay their bills, learn to manage their money better, or to find loans at a better rate. 

Fast Personal Loan

 

Millions of people every day are getting a fast personal loan. Local payday lender stores and online cash advance websites offer this type of loan at reasonable prices. Most begin at $100 and loans are as high as $1500. A fast personal loan is also known as a payday loan, a cash advance loan, quick cash loan, no fax loan, overnight loan, bad credit loans, and several other terms.

 

All refer to a small, short-term loan for a small amount of cash. The borrower has a short time until repayment is due, usually at their next pay date. 
Banks, credit unions, and other larger financial institutions do not, or cannot, make small loans under about $500, because they are unable to turn a profit. The government restricts the amount of interest they can charge to around 36%. The payday and cash advance lenders have no restrictions. A common beginning interest rate for these lenders is around 456% and can go over 2000%. While this sounds sky-high, the actual fee is just $15 to $25 for every $100 that is borrowed. On a small $100 loan, this is much less than a fee a bank would charge for an overdrawn check. If you are in danger of a check bouncing, getting a small payday loan can save you some money. 

 

Many short-term lenders will begin with a small fast personal loan limit, such as $100 to $300, based on the borrower’s income level. Monthly income requirements are around $1000 per month, varying with each lender. Active members of the military are prohibited from taking out payday loans. Having a job with adequate income, or some other source of regular income is mandatory. 

 

The lenders use the banking system for their backup. At a land-based store, you will be asked to write out a check for your loan amount plus fee, and leave it with them. When you return to pay your loan in cash, they return your check. If you want them to shred the check, just ask. If you decide to use an online payday lender for your fast personal loan, you will approve an ACH withdrawal, which means they will automatically take the repayment amount directly out of your bank account on the due date. 

These loans are true loans, with no collateral. There is no need to fax information to the online lenders in most situations. No credit history is required, there is no reporting of your activity to credit bureaus, and no one checks your credit. Your loan is backed by your check, or the ACH withdrawal approval. If you default on your loan, it will be treated just like a bad check. This will also probably prevent you from getting any future loans. 

The fast personal loan is a financial convenience, and you can use the money for anything you wish. Some online loans are processed and delivered within one hour. At a loan store, you walk out with cash immediately. No questions are asked about why you need money, or what you will do with the loan. The loan process is short and fast, and approvals come in minutes.
Online lenders direct deposit the loan money in an hour, to same or next day. Usually, the states limit you to having just two of these loans active at any one time. The short-term loan is great for emergencies, unexpected bills, repair work, travel, or just for fun. A fast personal loan is not, however, meant to become a lifestyle or source of income. 

Padding Your Retirement Account with Freelance Work

Padding Your Retirement Account with Freelance Work

What is Freelancing?

The freelance market, also known as the “gig economy,” is vastly different than the job market than the one with which most seniors grew up. Instead of interviewing and accepting a position within a company, you approach clients directly for work. Most freelancers are hired as independent contractors and paid on a project-by-project basis. This gives you the flexibility to set your own hours and take time off whenever necessary.

While freelancing is a great way to make money while working from home, there are a couple of things that seniors should keep in mind. Freelancers usually receive no benefits, which means no medical coverage. Contractors are also responsible for their own taxes.

The Benefits of Freelancing

One of the biggest benefits of online freelancing for many seniors is the lack of a commute. This means that job openings and gigs aren’t just limited to adults with a car or a bus pass. Those who are legally blind, mobility impaired, or who can’t find transportation for whatever other reason can still conduct a freelance business from the comfort and convenience of their living room. You can also set your own hours and work as your own boss.

Freelancing Opportunities for Seniors

It’s not hard to find online gigs if you know where to look. Skilled freelancers can find postings on community sites such as Craigslist, or they can go to a specific hiring website. There are several sites designed to connect freelancers to jobs both in and outside of their area, including:

  • Upwork
  • Guru
  • Fiverr
  • Freelancer
  • iFreelance

With the advent of the Internet, it’s become easier than ever to earn money from home. No matter what your field, you can find exciting freelance gigs online that can help you to pad your retirement account. What’s more, you have the freedom to be your own boss and run your business your way.

Jenny Holt  jennyholtwriter@gmail.com


Top Ways To Boost Your Finances After Buying A Home

Top Ways To Boost Your Finances After Buying A Home

Top Ways To Boost Your Finances After Buying A Home

Owning a home is the dream scenario for millions of people around the world. However, with the average American property costing $241,700, it can be hard enough scraping together a sizeable deposit, let alone ensuring you’ve got enough put by to truly put your stamp on your new abode. So, when you’re preparing for a house move, be sure to take into consideration these top tips to enable you to boost your finances and your bank balance.

Take your time & plan

It goes without saying that you’ll be excited at the prospect of moving into your own property and will want to make changes as soon as possible so that it truly feels like it’s all yours. It is tempting to splash out on items before you’ve made a definitive plan, though, as you’ll likely end up throwing away money. Once you’re settled in your new place, take the time to sit down and decide what work needs doing and what changes you would like to make. This will give you a good starting point to work from and from here you can determine an order of priority.

Bills & expenses

When you move into a new home, it’s easy to forget to contact businesses such as your energy supplier and water provider to give them your details. It’s essential you make contact with them as soon as possible though to avoid falling into debt. This also gives you the perfect opportunity to ask for any special deals plans or discounts which will help keep your bank balance looking healthy. Now is also the time to seriously review your outgoings. Some top ways to cut your expenses is to opt for a cheaper cell phone contract, ditch the takeout coffees and walk instead of using public transport.

Make cash from your home

Your new property could be the perfect way to help boost your finances and build your personal wealth. If you’ve got a spare room, you could rent it out to a lodger or, for those conveniently located near to cities, towns and local businesses, renting out your driveway to commuters is a great way to bring in some additional cash. Another option is to rent out your home to TV and movie directors looking to film in lived in properties rather than fake sets.

Buying a home is a costly expense

Therefore, buyers should ensure they find ways to enhance their income and keep their finances healthy. It’s important to plan and budget for any projects before proceeding with them, take time to review all bills and expenses and consider using your new residency to make some cash.

Jenny Holt <jennyholtwriter@gmail.com>

How to Reduce Funeral Costs

How to Reduce Funeral Costs

How to Reduce Funeral Costs

The sudden death of a person affects all family members. At such difficult times, they are also burdened with the need to make funeral arrangements for the deceased person. They have to make important decisions on where to bury their loved one and which funeral service to opt for. A funeral is an expensive event and any wrong decisions financially burden the family. It is quite easy to make costly mistakes when you’re going through the emotional turmoil. Here are some effective tips that will help you reduce funeral costs.

How to Reduce Funeral Costs: Compare Many Options

Look out for different funeral homes to conduct the final ceremony of your deceased family member. Go through the price list of multiple funeral homes to choose the right service. You do not necessarily need to choose the cheapest service for a funeral. Thorough research helps you get a good value for your money.

Also, you do not need to purchase the entire funeral package of a funeral home. Just choose the items and services you need in order to cut down on funeral costs.

It is recommended to get funeral insurance in your life so as to save your family from any financial problems. Check different funeral insurance plans and select the most suitable option. It will ensure that your family won’t have to worry about funeral arrangements.

Stick to Your Budget

If any of your close family members die, you may want to get the best products for their funeral. However, it isn’t a good idea to show off your love for the deceased one by purchasing expensive products. Set your budget and stick to it. Refrain from spending a large sum of money on funeral service, since it will only cause more stress for you.

Know Your Rights

Carry out some research to know about the laws regarding funeral and burial in your state. Many people spend hundreds of dollars on embalming the body, thinking it is legally required. However, there are no such laws and regulations. Moreover, the body of the deceased person won’t get damaged without embalming, if you intend to bury them soon after their death.

Get Less Expensive Merchandise

You’ll need many items to get done with a funeral ceremony, such as casket, grave liner, and burial vault. Choose less expensive items to keep funeral costs low. The casket is the most expensive item required for the burial. Funeral directors may try to manipulate you into buying an expensive casket. However, you can get a good quality product within a few thousand dollars. If you want to cremate the body, there is no need to purchase a casket.

Choose a Home Funeral

Many states in Australia allow you to conduct the entire funeral ceremony of a person at home. If you want to do it on your own instead of hiring professional services, you should get in touch with local authorities to know more about the legalities. Conducting the ceremony at home allows you to save costs and say a final goodbye to your close family member.

 

Financial Stress Coping Guide for Seniors

Financial Stress Coping Guide for Seniors

Financial Stress Coping Guide for Seniors

Last year in August, I wrote an article titled The Retirement Savings Crisis: What Will Fix It?  Jenny Holt read that article and let me know about her eBook:

“Recently, I came across movermike.com while researching a piece inspired by my own family.  A combination of my father being downsized in his 60s and my mother falling ill have combined to seriously affect their financial planning for retirement and has exacerbated their health problems. They have inspired me to write a guide for seniors and their families about the most common causes of financial stress, how it affects the person, and provide some coping strategies. You can read it here:

Financial Stress Coping Guide for Seniors

I thought you might be interested in it after reading your blog post”

The Retirement Savings Crisis: What Will Fix It?

The Retirement Savings Crisis: What Will Fix It?

The Retirement Savings Crisis: What Will Fix It?

The numbers are staggering. An astounding $14 trillion retirement crisis is looming for millions of Americans. Nearly a third of the workforce does not own a single retirement account – not a 401(k), not an individual retirement account (IRA). Of those who do own a retirement account, the median account balance is a mere $3,000. Rising costs, longer lives and the very human tendency to not worry about it because it’ll all turn out OK in the end is driving the numbers. There are ways to fix the retirement savings crisis before it’s too late. Here’s how.

No Retirement Plan? Get One

If you think your Social Security check will be enough to live on during retirement, think again. The Social Security board of trustees anticipates that by the year 2035, all excess cash reserves will be gone. Benefits could be cut as well. Even if neither of these events occur, Social Security benefits will barely touch your living expenses. You need more.

If you don’t participate in an employer-sponsored IRA or 401(k)plan, sign up if your company offers one. You have to start somewhere and automatic contributions are a great way to do just that.

Consult a Professional Retirement Planner – Now

One 401(k) or IRA is not enough to live a comfortable retirement. Investment portfolio management, retirement savings management and strategy development are all services a professional provides to help you achieve your financial goals. A professional looks at where you are now, what you have to do to live a comfortable retirement and develops a plan to get you there. Professionals recommend the investments that work best for you, no matter what your age or financial picture. A retirement manager creates a customized solution that may include mutual funds, ETFs, annuities and other types of investments. If you’re older and starting to save late in the game, you may be reluctant to seek the help of a professional. You may feel embarrassed or ashamed, but there’s no need. Retirement planners are there to help and many have successfully helped clients in your situation – or, at least the financial planner you work with should be experienced in helping others in your situation. In fact, if you’re starting late, you need the expert advice a professional retirement planner brings to the table.

Living Longer Means Working Longer

One of the biggest reasons for the retirement savings crisis is the longer and overall healthier lives of today’s population. The amount of savings needed now far outpaces what used to be the norm. What’s a great way to improve your own retirement outlook? By working longer. There are potential problems with working harder, however. Economist David Neumark’s research indicates that employers tend to discriminate against older workers. And, there’s the problem of health issues as people age. Still, if at all possible, working longer ensures a more comfortable retirement when the time comes.

Don’t Wait

It’s much easier to do nothing and hope it all comes together in the end. But, the longer you put off, the less you’ll have later on. If you take steps now to increase your savings and reduce spending, you can avoid becoming part of the retirement savings crisis.

Gabby Revel, Founder, writer, editor & administrator at Fertile Content, is a freelance writer who specializes in lifestyle topics, as well as science and technology, investing, and personal finance. She also has a passion for adorable dogs of all kinds. She currently lives in the San Francisco Bay Area.

There is A Place for Precious Metals

Rosland Capital, a premier precious metals asset firm, is your go-to gold, silver, platinum and palladium resource. Founded on honesty, high-quality customer service and public education, Rosland Capital exists to educate you on the benefits of strengthening your assets and diversifying your portfolio.

Whether you are looking to safeguard your retirement savings, hedge against inflation or against potential stock market volatility, Rosland Capital offers precious metals in physical form, precious metal-backed IRAs, and the knowledge base you need to realize the benefits of precious metals.

The graphic below is an additional resource developed to help guide those who are seeking insight on the various savings and investment options for retirement.”

rosland_capital_avenuetoretire_v05

Top 5 Senior Friendly Cities in USA

Senior Friendly Cities

Senior Friendly Cities

Retirement is an inevitable phase of life; one that requires decisions to be made in advance. Senior citizens look forward to spending this time in an enjoyable yet affordable location. Senior friendly cities should not only provide citizens with high quality of life but should also not put a strain on the budget. Here is a list of top 5 senior friendly cities to live in

1.Minneapolis – Minnesota

This city is ideal for citizens that are looking for health care facilities and safe environment. The city offers an excellent transportation system with low crime rates and a stable economy that offers ample job opportunities for senior citizens.

With a wide range of music and historic entertainment forums, this city provides an extremely gratifying social life to the citizens. Moreover, it offers several spiritual places that allow citizens to offer their religious prayers in sacred places.

2.Pittsburgh, Pennsylvania

With highly efficient transportation system and low crime rates, this city is suitable for citizens that are looking for security and good housing faculties. The economy of the city is also stable and study reveals that it enjoys extremely low levels of unemployment rates and offers high quality health care facilities.

The city is also known as the hub of entertainment and therefore is suitable for citizens who are looking forward at spending an enjoyable yet affordable time in the old age.

3.Boston-Cambridge-Quincy, MA-NH

Senior citizens who are looking forward to re-training or gaining further education would find this city full of opportunities as it offers more than hundred education institutes. Moreover, the city has a rich cultural heritage that allows senior citizens to visit music and historic venues and theatres that provide high quality entertainment.

The healthcare facilities within the city are of extremely high quality whereas the transportation system is also quite efficient. The city has an extremely alluring social life for citizens who want to engage with peers and friends and to visit various locations across the city. The crime rate within the city is also considerably low.

4.Provo-Orem, Utah

The city offers a healthy lifestyle to the citizens who want to age comfortably. The city offers high levels of security and safety while also provides the citizens with the ability to embark on new careers or start a business.

5.San Francisco, California

This city is ranked considerably high in the health and longevity continuum whereas the environment of the city is ranked as the best across the country and thus is ideal for citizens who want to enjoy extremely pleasant weather conditions around the year.

Apart from these factors, the city has one of the best transportation systems across the world and offers an extremely pleasing social life.  Moreover, the crime rate within the city is also not very high.

Author Bio
Andy is a keen and passionate blogger and he’s been doing it for almost five years now. His favorite topics include senior issues and healthcare. If Andy is not writing, his time is being consumed by distributing Patient Handling items and other merchandises regarding mobility.

I Wanted the Freedom

Mike Landfair freelance writer

Retirement

I started working at 15 years old, because my parents couldn’t afford the clothes I wanted to wear and I wanted the freedom my own money would bring. I started working  as a stock boy at Thom McAn shoes and then graduated to selling shoes. One summer while in college I sold shoes at Thom McAn, JC Penny and Nordstrom’s. I don’t recall saving any money for college, although my parents said I did. I spent all my money, as the song goes, on booze and women. The rest I just wasted.

The best thing I did was get a college education, Back then a private school cost about $5,000 a year including room and board, tuition and books. Public University was about $100 to $ 300 a term, if memory serves. I gave no thought to retirement what so ever.

I got married, got a job as a stock broker, bought a house and had kids. That was all the motivation I needed to be successful. If you were 30 and earned your age, you were doing well. This was the early 1970s. As I recall, to be in debt was the American way. We knew we would earn more money the next year than we did the past year.

There didn’t seem to be any worry about retirement. Companies had retirement plans. They offered were defined benefit plans with vesting and profit-sharing plans. There were no IRAs. There were Keogh plans for the self-employed like CPAs, doctors and dentists. Most of us continued to pile up debt, buying bigger houses and more expensive cars and toys and vacations. I don’t recall hearing about home equity loans. Only when I got a divorce after 17 years of marriage, did debt become a problem. I was still earning good money, but the cost of two households and child care was a giant burden.

Sometime in the 1980s, I learned about compound interest. Einstein called compound interest the ninth wonder of the world.

Here’s an illustration of how compound interest works. Suppose at 19 years old you invested $2,000 each year for seven years into an IRA. You put in $14,000 and then never invested in that IRA again. Then suppose your best friend waited until he was 26 and started putting $2,000 every year until he was 65. That would be 40 years and $80,000. Each received a 10% compounded return (meaning that each year you get interest on last year’s interest).

In the year when they were 65 they sat down and compared nest eggs. The friend who invested $2,000 a year until 65, had a nice retirement nest egg of $893,704. The smart kid who stated at 19, invested for seven years and quit, had a retirement nest egg of $930,641.

Here’s what I wished I had done with my money.

I wish had utilized compound interest to get rich in real estate. Suppose you buy a house for $300,000 and put down $30,000. At 7% the house doubles to $600,000. Assuming you didn’t take out a bunch of home equity loans to buy toys, your equity in your home would be $330,000, an eleven-fold increase not counting any reduction in your mortgage.

If it was a rental, and I’d used the income to pay down the mortgage, I could have paid down the mortgage rapidly and bought another rental and so on. I could have retired with rentals throwing off income. Hopefully the property would have appreciated.

One thing I don’t do is look back and say, “If only I’d a. If only I’d a bought Microsoft at $50 in the IPO. The decisions I made got me here to San Miguel de Allende as an expat, retired, writing as a freelance writer, loving a foreign country, happily married for 23 years, wonderful girls and two wonderful grand kids. I could be wealthier, but I could be poorer, too. One thing I’ve learned is to be grateful for whatever I have and value my health. Do things in moderation and don’t put poisons in your body; that includes your mind, too.

Personal Capital has a free net worth tool that can bring all of your accounts together in one place so you can monitor your income, spending, and investments on a single, easy-to-read screen. Once you have linked all your accounts, you can use their tools to manage every aspect of your finances.

The Next Currency Crisis Has Begun

According to Graham Summers of Phoenix Capital Research The Next Currency Crisis Has Begun. 

Stocks have been boring for months now. They’ve gone almost nowhere since the start of the year.
The REAL action is in the currency markets.
The biggest news is the breakdown of the Japanese Yen. Normally it’s a big deal if a currency breaks a trendline that is over five years long.
The Yen just broke a 30 year trendline.

Image

The significance of this cannot be overstated… one of the major world currencies has broken support dating back to the mid-80s. This sets the stage for a collapse to 60 if not 40 in the coming months.
The Yen collapse represents a 33%-50% currency collapse. It is nothing short of a hyperinflationary event.
The impact will be felt around the globe, most notably in Asia where other currencies will be in absolute chaos.
However, the Yen also is a major currency partner with the US Dollar and the Euro… and a Japanese currency collapse will be felt in those regions as well. Stocks will be the last asset class to “get it.”

Copyright © 2007 Mover Mike. Design by Anthony Baggett.


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