7 Shortcuts for a Simple Retirement Plan in Record Time

Smart professionals often do two things very well:
First, they identify investment opportunities that can get them quick and fruitful results, early in their careers.
Second, they carefully invest in a lucrative and risk-free pension plans to ensure a happy and stress-free post-retirement life.
But that’s just part of the story…
Retirement planning is a complex process and picking the best pension plans from the lot can easily daunt even the most seasoned souls.
Save for Retirement
I’m sure you’re probably wondering:
“Complication isn’t my thing. How do I easily plan a successful retirement and zero in on the best pension plans available in the market?”
Well today I’m going to make it easy for you.
Brace yourself for I’m going to pull the curtains and reveal 7 stupid simple shortcuts for a simple retirement plan in a record time.
So let’s get started! Shall we?
Shortcut #1:

Sketch a Rough Outline of Your Post-Retirement Life

The first step for planning a successful, healthy and happy post retirement life is to figure out how you wish to lead your post-retirement life.
Are you planning to travel across the globe after retirement? Do you wish to stay at your home and enjoy your post-retirement life with your family and loved ones? Or are you planning to pursue a hobby after retirement?
Here’s the deal:
Determining how you plan to spend your days after retirement will help you get a better understanding of how much your retirement will cost you.
Simply stated:
Having a rough outline and iron-clad planning of your post-retirement life will go a long way in ensuring adequate budgeting.
Shortcut #2:

Figure Out When Do You Actually Want to Retirement

Now that you figured out how you plan to spend your post-retirement life, it’s time to determine the time when you will actually retire.
Here’s why:
Determining and calculating the number of years you have in hand before you actually retire will help you get a better understanding of the amount you need to save each year for your post-retirement life.
This will also give you a fair understanding how much your existing savings will continue to grow.
In short:
You’ll not be able to estimate the volume of retirement corpus you need build until you determine when you plan to retire.
Shortcut #3:

Do the Math to Find Out How Much It Will Cost

Now that you have an idea of how you will live your post-retirement life and the age when you’ll retire, it’s time to calculate the savings you’ll need to build your desired retirement corpus.
Start by comparing the best pension plans available in the market to get an idea of the premium you’ll need to pay until you actually retire.
And don’t just stop there:
Take into account your monthly expenses. Include everything right from your expenses on travel and entertainment to your monthly tax liability. Be generous with your estimates and don’t forget to take the inflation rate into account.
You may argue:
Estimates and assumptions will not be accurate. But, they will certainly help you get started with your retirement planning.
Let’s take an example:
Suppose your monthly household expenses are 300,000. You spend almost 80,000 for entertainment and travel each year. Your health care expenses are 60,000 and you end up paying 60,000 in taxes each year.
So you’ll need at least 500,000 every year after your retirement to meet your monthly expenses.
Now, let’s say you’re 40 years old and you plan to retire at an age of 60. This means you have 20 years to retire. Now, add an assumed annual inflation rate to your average monthly expenses. Let’s take the annual inflation rate as 6%.
Your average monthly expenses in next 20 years will be around 1Cr. This means you’ll need to build a retirement corpus of 1 cr.
Shortcut #4:

Start Saving For Your Post-Retirement Life

I’m sure you’ve heard this…
…but let me reiterate.
A penny saved is a penny earned.
Now that you know how much your retirement will cost you, it’s time to start saving and building a retirement corpus.
Take the shortfall estimate from shortcut number 4 and subtract your current savings and pension plan balances to determine your current savings shortfall.
Divide current savings shortfall by the number of years until your expected retirement. Retirement savings shortfall can be made up by saving more or figuring out how to live happily on less– they’re mathematically equivalent.
Shortcut #5:

Be Smart to Keep Growing Your Savings

Well, next step is to mull over investment ideas to grow your savings manifolds.
If only it was that easy…
If you’re serious about ensuring a healthy, happy and financially sound post-retirement life, you’ll need to carefully look for investment avenues to keep growing your savings.
Investing in ULIPs could be your best bet. ULIPs are less prone to market risks and offer comparatively higher returns on investment quickly. Don’t forget to carefully analyse the NAV (Net Asset Value) of the ULIP you intend to invest your savings in.
Yet another reasonable type of investment instruments to look for are ELSS Funds (Equity Linked Saving Schemes). ELSS allows you to earn sizeable profits through investment in equities, while providing you tax benefits at the same time.
These are just two reasonable and easily available investment options to consider if you plan to grow your savings manifolds without having to run from pillar to post and burn the midnight oil.
And that’s not all:
Keep increasing your investments as your income grows.
Shortcut #6:

Keep in Mind Diversification of Investments is The Key to Success

Okay, now you know that ULIPs and ELSS could be your best bet; but don’t just stick to these options like superglue.
Instead, try diversifying your investment portfolio.
Let me explain:
ULIPs and ELSScan help you attain a financially secure post-retirement life, but so can PPF, gold assets and bonds.
Don’t hold on to the thought that investing your savings in ULIPs and ELSS will solve all your problems. Instead, hedge your bets by diversifying your investment portfolio.
You’ll need a better and more efficient investment portfolio that includes everything right from ULIPs to gold assets and bonds.
But before you jump the gun:
Be careful to ensure a balanced investment portfolio. Only a balanced investment portfolio can help you realize your post-retirement dreams.
Shortcut #7:

Start As Early As You Can

Early bird catches worm.
This is nowhere truer than in the case of retirement planning.
Wondering why?
This is because the earlier you start saving for your retirement, the more time you’ll get to build a decent retirement corpus.
You get to harness the immense power of compounding when you start saving early.
How early should I start?
The Answer:
Start right from the time, you get your first pay cheque. Simply set aside at least a 10% of the amount for your retirement. And as your income increases, increase the percentage of your retirement fund savings.

Now it’s Your Turn!

So there you have it – 7 stupid simple shortcuts for planning your retirement in record time. Now go ahead, put this learning into practice and ensure a happy, healthy and stress-free post-retirement life.
Best of luck!

Have One Less Thing to Worry These School Holidays and Keep Your Frequent Flyer Points in Check

If you have a lot of flyer points but you don’t know how to use them, you have come to the right place. Some of the most seasoned business owners and travelers collect points on their credit card just so they can use it later.
School holidays are generally the hardest time to grab a seat for yourself. However, all you need to do is save the points and do some careful planning, in order to get free seats for your family. This article will talk about using rewards points during school holidays, so let’s have a look at some of the top tips:

Book the Airline Tickets As Soon As Possible

The first thing that you need to do is seat the family down and see their schedule. If the family can commit to being free on some of the dates, your next step should be to plan the itinerary for yourself. It is important you know that most of the airlines open their flights for frequent flyer points a year in advance, so that is a lot of time to prepare.

You Can Use the Points for Part of a Journey

If you are travelling bigger distances, such as USA to Australia, it may be a good idea to pay for a short haul flight to Dubai, and then use the points for that stopover for the rest of the trip. One of the reasons why this is recommended is that the availability of the points’ seats is better this way. A lot of airlines offer stop over deals, which are of good value.

Use the Points for Other Services

Sometimes, it is not easy to find a seat during the peak holiday season. If that is the case with you, you can use your points for car hire as well as hotel room bookings. Another thing that you can do is convert the program points in cash and use that during your holiday.

Tips for Using Frequent Flyer Points

Here are some more tips about frequent flyer points that will help you out:

  • Book well in advance to get the most out of your frequent flyer points.
  • Sometimes, booking very late can also do the trick.
  • Use the points for international points.
  • Use the points for free seats and not just upgrades.
  • Try to split the itinerary. Each parent can travel with some of the children if there are not enough award seats in the same itinerary.
  • Make use of schedule changes to optimize the flights.
  • Look at fixed value programs.
  • Make sure there are no fuel surcharges on the free seats.

In conclusion, this is how you can use your frequent flyer points during school holidays.

How to Switch Your Gas and Power Tariffs in the US

Switching your gas and electricity tariff can be an alien concept for people all over the world, especially if you have been used to having just one energy company in your area until recently. This is especially true in the United States, where up until recently all states across the nation had been regulated by just one local energy company. Well, that has now changed in 32 states.

In these states, in varying degrees, you can choose from a number of different tariffs, companies and supplies, all ranging greatly in price, giving you much more control of your bills. In this article you can find out exactly how to switch your deal.

Gas and Power Tariffs

Which states can switch? 

Below is list of all the states in which you can switch your energy to some degree. If you don’t see your state yet on the switching list, don’t worry, it’s likely that deregulation is on its way soon.

Can’t switch Power only Natural gas only Power and natural gas
South Dakota
North Dakota
North Carolina
South Carolina
New Hampshire
West Virginia
New Mexico
New York
District of Columbia (DC)
New Jersey
Rhode Island

How to switch tariff 

Switching your tariff is extremely easy and has been built on various case studies across the world, primarily within Europe, the United Kingdom especially. Companies like Selectra  have been operating for years, providing customers with unbiased, full market comparisons so that you can choose the cheapest tariff to switch to. As such, there has been websites pop up across the US such as ‘Choose Energy’ and ‘Power 2 Switch’.
Your part ends fairly early: all you need to do is provide a few personal details, such as your name, address and bank details. Once you have indicated which tariff you would like to switch to, the switching company will take care of the rest. In addition, don’t worry about cancelling the contract that you’re currently on, because the switching company will take care of that too! Everything within this process really is simple for the customer.

What type of tariff should I get? 

There are a few types of tariffs that you should be aware of. This will determine the way that you pay for your energy, what you receive and how long you need to be tied down to that deal.
Here’s your options:
Standard variable – the most flexible of tariffs, a standard variable means that you don’t have any contract length: you can switch and swap as you wish. The downside is that your unit rate, the amount that you pay per unit of energy, can rise and fall with the wholesale prices worldwide. The idea of it decreasing might sound nice, but this won’t happen to very many, believe us!
Fixed – The most popular tariff type, a fixed tariff will generally result in being cheaper than a variable, but will tie you down to a contract for a predetermined amount of time, usually in years. This could be seen as a good and a bad thing. On the one hand, it protects you from any price increases in the coming years. On the other hand, if you wish to cancel your contract, you will have to pay an exit fee, which can be pretty hefty.
Green – Applicable to the two tariff types above, the renewable deal is comprised of 100% renewable energy. More and more companies are offering this type of tariff in a bid to reduce the amount of fossil fuels that we used in the generation process and switch our attention to clean, sustainable energies. These can sometimes be a little more expensive, but it is more than worth it for the environmental benefits.

Will my supply change? 

No, your physical supply will not change. The reality behind it is that all you are really changing is the price, your customer service number and the name on the top of your bill. Each of these companies will buy energy and pump it into the grid same as the one that you are on now. The wire and pipeline network will remain intact just as it is now, meaning there will be no changeover or downtime in your connection while the switch is being made.

Tools to Help You Secure Your Financial Future

The most important thing you can do in your life is to secure your financial future. If you don’t have to worry about money, you are guaranteed to live a more fulfilling life. You won’t be trouble-free but you’ll be more able to withstand the stresses and find solutions to your problems. Here is a list of tools to make you day productive.
Securing your financial future might sound like a complicated project. It sure isn’t going to be easy but you have many tools around you to help make it more straightforward and pleasant. You don’t need to spend hours solving financial mysteries if you just know what tools to harness.
how to get your finances in order
So, as you begin securing your financial future and ensuring you don’t have to worry about money on a daily basis, these are the tools to use on your journey.

Tools that help you save more

Saving more of what you make is often the first step to securing your financial freedom. If you are spending everything you earn, you aren’t going to leave anything for the rainy day – it really is as simple as that.
Saving without a clear plan and structure can be difficult. To help you get started, a program such as the 52 Week Money Challenge is worth exploring. This particular saving challenge even has its own mobile app that allows you to track how well you are doing.
If you are struggling to hold on to your money long enough to place it on a savings account, you might want to consider opting for Digit. This app will monitor your income and spending, taking small amounts of money every now and then to your savings account. It doesn’t cost anything and you don’t have to worry about transferring the money – you won’t even notice you are saving.
Furthermore, you should also find ways to save money with essential spending. This is easy with websites like uSwitch and OZCodes. The latter will help you find saving codes from online stores ranging from technology to groceries, whereas the former can ensure you compare prices for providers of energy, insurance and the like.

Tools that help you manage your money better

Of course, you won’t ever have anything to save if you don’t learn how to manage your money. It’s one of the most important lessons to learn in life – you need to know how much you are making and how much you are spending and ensuring you never spend more than you make.
Both the App Store and Google Play are full of budgeting apps. You definitely want to try Mint. It’s a popular money-managing app monitoring financial accounts and helping you create a budget. It’s also perfect for checking your credit score and receiving reminders on bills. If you need more tips, Mint also gives them based on your spending habits.
Another good app to keep in mind is Daily Budget. It examines your day-to-day cash flow and gives you a clear spending profile to study. It makes it easy to see where and when you spend; helping you to perhaps change those negative money habits for the better.
If you are struggling with debt, MoneyWiz is a money-managing app worth trying. It handles all your accounts, budgets and bills proving you with suggestions on how to clear your debt quicker. The in-depth reports will help you understand how you are spending money, especially in terms of your earnings.

Tools that help you earn more

Naturally, securing your financial future isn’t just about knowing how to use what you are currently earning and saving some of it for the rainy day. It’s much easier to save and create a strong balance when you are making more in the first place.
The good news is that there are tools that can help you earn more money without you paying any attention to it. Acorns is an investing app that doesn’t require you to have a million on your bank account. In fact, the app rounds your purchases to the nearest dollar and invests that money in a diversified stock portfolio. Once these investments earn you $5, the money will be transferred to a savings account.
If you are new to investing, you should also consider checking out SigFig. The investment tool tracks, manages and optimises your current portfolios but you can also manage new investments with the app. You can also take a questionnaire to find out your risk profile, create a personalised investment plan and even get tips on how you should be investing.
Finally, if you shouldn’t overlook the power of knowledge when it comes to earning more money. Whether it is about running your business or investing your money, you need to know what is happening in the world around you. So, make sure to read newspapers and financial blogs to stay on top of world events. Bloomberg, the Washington Post and the New York Times are among good newspapers to read.
With the above tools, you can secure your financial future. You’ll be making more, saving more and spending your existing money much better.

Kick Off Your Retirement Savings As Soon As Possible

Whenever you work hard, your paycheck reflects all your accomplishments and achievements. But at the same time, when you have enough money at your disposal, there are also wide array of new things to spend on.
You might be saving dollars for your first home or you may have just signed the agreement for a hefty mortgage loan. You may have one or more babies to provide food and your dog must have been demanding more food.
So , even though your paycheck reflects a hefty amount, there are different areas where you also have to spend money.
There is no doubt about the fact that establishing a family and buying a home is expensive and it is also easy to think that retirement goals is an impossible feat, especially when you’re in your mid-30s.
Hey, breathe easy! You won’t require achieving all your goals at once. But retirement needs to be a top priority. Here are few ways in which you can ramp up your retirement savings account.
Save for Retirement

Accumulate funds in your 401(k) savings account

In an ideal situation, you would definitely want to make maximum yearly contribution to the workplace-sponsored fund, 401(k).
As you keep moving up the ladder of your career, put each of the raise amounts in your retirement savings account and make it a point that you don’t spend them.
In case you think that you can’t afford to rack up all the pay-lifts to your retirement fund, make sure you gradually increase contributions with time.
Don’t hesitate to take an employer match as that is free money which should be given its utmost value.

Maintain a dynamic asset allocation

No, it’s not always enough to save money as you also have to keep a watchful eye on the current retirement assets to make sure you’re not blowing off opportunities for growth.
Invest wisely and strategically, take care of risk by distributing your investment in to various categories like Stocks, Bonds, ETFs, etc.
If you’re in your 30s, you need to invest assertively, thereby saving up to 80% or even 90% of assets to diverse a wide array of stocks.
You have to be diligent enough to save money and invest your dollars in the right things that have a power for growth.

Don’t allow a job change to derail your plan for retirement

In case you’ve been changing jobs for a better opportunity, don’t let it hit your retirement plan. It is seen that often some kind of rich opportunity has the impact of unsettling the savings which you’ve accumulated till date.
Most often, this occurs when people make the wrong decision of cashing out a 401(k) instead of letting it intact.
As per Hewitt, 50% of the workers in their mid-30s cash out their 401(k) accounts when they take a decision to leave jobs. Another retirement trap to steer clear from is bad timing.

Prepare yourself for your kid’s college expenses

Once you’re done with focusing on your retirement accounts, it’s time for you to focus on few other vital expenses as well.
If you have small babies at home, it’s time you start thinking about their college expenses.
You might thing that this is too early to plan for their college but the truth is that the earlier, the better.
If you’re determined to assist your kid with his education so that he never faces any kind of financial issue, you should start saving for his high school and college.
There are several tax-advantaged programs which have been designed for such purposes.
Therefore, if you’re thinking of how you can start saving for your retirement while you’re in your mid-30s, you can take into account the above mentioned tips and advices.
This was a guest post from SB @ onecentatatime.com! SB is an informed husband and father with dexterity for investing and passion for finance. His blog has over an impressive repertoire for those interested in making money, savings, investing, and family.

Financial Tips for Young People

As adults, it’s not always easy to make great financial decisions. Some of this comes from unforeseen circumstances we might face, some of it from unwise decisions or investments, and some of it stems from lack of experience. How many times have you thought about how differently you would have handled your finances if you had only known then what you know now?
These lessons that we learn over the course of our lives regarding our finances are ones that we can pass on to our children. Sure, we can’t expect that every bit of advice we give young people will be received with the utmost attention but, as all parents know, many of the lessons we teach will eventually stick. We can play a big part in shaping the base of knowledge and habits of our children. The more we can incorporate financial considerations into the lessons we give, the better equipped our children will be to handle their assets wisely.
Financial Tips for Young People

Create a Habit of Saving Money

Consider how much money you would have tucked away if you had starting saving just a small amount of money when you were a kid. This is a habit that is tough for many Americans, but the earlier you can become disciplined at saving just a small portion of your earnings every week, the easier it will become.

Find Ways to Reduce Bills

Whether you’re turning off lights when they’re not being used to save on the power bill or you’re making sure you eat food in your refrigerator before it goes bad, you can trim your expenses by looking for the little ways to save that accumulate into bigger savings. Make it a game that you play with your kids to look for ways to reduce the electric, gas, water and food bills.

Retirement Saving Begins with Employment

As soon as the young person in your life starts their first job, they should also start thinking about saving for retirement. This isn’t the easiest lesson to teach a person who has their whole life in front of them, but it’s one that will pay off in a big way once they reach retirement age. Make sure your child knows about 401(k)’s and IRA plans. Knowing about retirement plans at an early age can mean not having to work well into your golden years.

Smart Shopping

Cultivate the instinct in your child to look for savings when shopping for clothes, food or any household products. Pay attention not only to the cost of the goods you’re buying, but also the ways in which you can incorporate sales and coupons into your shopping routine. Just like lowering monthly bills, this can be made into a game – one in which everyone wins.

Avoid Buying on Credit

Steering away from debt is a necessary and frequently over looked habit in all stages in life. When we are young, we can easily dig ourselves into a hole that we spend the rest of our lives getting out of. While some forms of debt, such as student loans or mortgages, will be an inevitable part of life for many of us, we can certainly decrease our reliance on credit cards when we make purchases. Teach your children that buying any luxury product should be done only with existing financial resources. Credit card debt can create a number of challenges for the young consumer, but it can be avoided by establishing the principle of buying only what you can already afford.
Teaching your kids about finances is very much about creating a mindset, a paradigm that will dictate spending and investment habits over the course of an entire lifetime. Arm your children with the instinct of looking for value and saving whenever possible. The earlier these habits can be established, the better off a person will be later on in life. Create rewards for children to make the learning process more incentive-based as opposed to penalty-based. Eventually, they’ll come to realize that the reward is actually the money they’re saving by being a more astute, budget-conscious consumer.

How to Apply for the Public Service Loan Forgiveness Program?

It is quite natural for the students to get curious about the whole program of Public Service Loan Forgiveness (PSLF). The program has been specially designed for the student loan holders to get out of their debt easily.
Your dream of working in the public service might actually get obstructed by your unpaid student loans. In this critical situation PSLF is the one and only program, which has the capacity of rescuing the students from student debt.
The Public Service Loan Forgiveness (PSLF) Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer. You can read more here at Federal Student Aid.
So, try to learn all the details about PSLF and then follow this simple and easy ways to applying for the above mentioned program.
Public Service Loan Forgiveness Program

What is Public Service Loan Forgiveness Program?

The whole PSLF program has specially been arranged for the students to deal with their student debts at the same time of pursuing their career in public service. In the year of 2007, public service loan forgiveness program came into existence for forgiving the remaining student debt of a particular student.
There are certain rules to follow before applying for the program. The eligibility condition of going for PSLF is, you have to pay at least 120 monthly payments on the loan you have taken.

Is it the Right Option for you?

This is one of the most important things for you to consider, that whether you need to go for the public service loan forgiveness program or not. After making 10 years of repayment, you really need to think about the necessity of applying for the program.
PSLF is appropriate for those people who are earning a livelihood quite less than their expectations. Thus, the responsibility of repaying the huge load of student load might provide them some sleepless nights. On the other hand, if you are earning a lot of money, then the chances of qualifying for the program is quite low.

Which loans are eligible for getting the forgiveness?

Parent PLUS loans along with the Federal Stafford and PLUS loans are exclusively come under the Public Service Loan Forgiveness. Although, defaulters in repaying the previous 120 payments will not be taken as an eligible candidate to apply for the loan forgiveness program.
There are a certain rules, which must be fulfilled by the students before applying for PSLF.

  • Make sure you pay the student debt, according to your income.
  • You can only go for this program, if you are working under an eligible employer.
  • The program can only start working, if you have been repaying your loans constantly.

What are the types of employment qualified for public service loan forgiveness?

Applying for PSLF is not that easy without knowing all the details of the program. The employees, who are considered desirable for this program includes –

  • The people who are working for Local, State or Federal Government organizations.
  • Employee of a non-profit organization.
  • School teachers.
  • Social worker in a private or government sector.
  • Full time faculty of a tribal college or university.

There is no need for you to get worried about your job role as long as your employer falls into any one of the above mentioned categories. But, introducing yourself as a full time worker of a particular organization is very much essential. As full time employees are only considered eligible for picking this opportunity.

How do I apply for the Forgiveness?

The first step to apply for the public service loan forgiveness program is to meet all the necessary criteria of becoming an eligible person applying for the loan forgiveness program.
To maximize forgiveness, borrowers should also use an Income Driven Repayment (IDBR) option, such as Income Based Repayment, ICR, and Pay As You Earn plans.
Here are the steps to apply for Public Service Loan Forgiveness:
The second step is, one has to submit all the important papers to the department of education to apply for the above mentioned program.
Complete the Employment Certification for Public Service Loan Forgiveness form annually or whenever you change jobs. You must ask your employer to fill in the employer portion.
It is up to you that whether you would like to submit all the paper-works annually or after repaying 120 payments of your student debt. But, according to the experts, you must send all the necessary papers annually. You can manage all these works by yourself or you can also think about taking the help of a third party. An experienced person might actually help you by checking whether your repayment plan is correct or not.
The employment certification will closely be verified by the officials of PSLF for considering you as a suitable applicant for the whole program. If you want to know more about this loan forgiving program, then there are a few websites where you can have all the details.
The PSLF Employment Certification form is available here.
But, don’t forget to make at least 120 payments before you think about applying for the Public Service Loan Forgiveness. Make sure you keep all the copies of the payment you have made in the last 10 years. This is essential as all these copies might actually be needed by the officials of PSLF at the time of verifying your paper works.

Tricks Involved While Buying Foreign Currency

Are you headed for a trip abroad? Well!! Before you actually plan for your tour it is important that you consider carrying enough money; on buying some smart currencies you can save your day in a foreign land. In fact the currency you buy should essentially be that of the country where you will be paying a visit. Carrying immediate cash is important especially when you are travelling abroad; otherwise you can imagine the problem you might have to face paying for a taxi ride from airport to the hotel where you are supposed to check in.

You must be thinking if it’s really possible to buy foreign currencies online? Of course it is!! These days you almost get anything and everything online. With one power click your wallet gets filled with foreign currencies.

Buying Foreign Currency

These days buying foreign currency has become commonplace. You can purchase them over the internet from the website of the bank you are familiar with. However, there are also provisions for you to make a manual approach; yes, just make a call and they will get back to you in m minutes, but online transactions are said to be instant; the transactions are immediately attended to by professionals.

Following are the essential steps that should be considered while you make a buy online (currencies):

  • Find out the accurate value of the foreign money you are about to buy. The web world is the perfect place to acquire such knowledge.
  • Order your money online, way before you are actually embarking on the voyage. An order is delivered almost weeks after it has been placed.
  • Watch out for currency conversion rates. These rates may fluctuate too often; so, you can wait for your money to yield some good amount of foreign cash.
  • Make sure that you call up the bank professionals to know about the process of ordering a foreign currency.
  • It is also important that you understand how the bank responds to your order and the processing involved. You can either pick the money from a regional branch or can have it shipped to your address.
  • Visit your bank’s website on a regular basis to know more about the processing status of your order.
  • Buy a certain amount of foreign currency that is needful for your trip.
  • After reaching your destination you can use your ATM card while abroad.

Finding Perfect Financial Picture

My good friend Dewitt Jones, who was instrumental in helping me set the course for my book, You Should Only Have to Get Rich Once, just recently spoke at an event in Chicago. If you have not seen Dewitt speak, it is something I highly recommend. As a former photographer for National Geographic for over 30 years, he always has something interesting to say.

In the hundreds of events he has spoken at, one question, one frustrating question keeps coming up over and over again: “How many good pictures do you get out of one roll of film?”

He would quickly respond that they were asking the wrong question (if only life were so simple). Instead, he would ask them, how many rolls of film would you use, how early would you get up, how long would you sit in the rain, what are you willing to commit to get that one picture? The perfect image rarely happens on cue and it is never easy. He was an exceptional photographer because he was not afraid to take thousands of pictures. He was searching for the perfect image and just kept taking pictures until it appeared in the viewfinder. Because, in the end, the only question that matters is “Did you get it”?

Finding Perfect Financial Picture

Financial planning can take a lesson from the pursuit of the perfect photograph. If you wait for the perfect situation and perfect ending, you will fail. Trial and error is a necessary component for success. You cannot script good things to happen. You can only create the right process, right thinking and a willingness to keep trying. Every failure is an opportunity.

It is my belief and one that success often involves failure. Fail often and you will find success. Just make sure that each failure is measurable because if you over commit to one situation and fail, you don’t get to fail again which means you won’t succeed. Life seldom works out as we plan and financial planning is no exception. Markets and investments have ups and downs and successful weathering those ebbs and flows requires the ability to continually learn from failure and be willing to keep trying.

As you set out to create your ideal financial picture, remember that the amount success you achieve is often directly proportional to how much you are willing to put into achieving your goals.The average National Geographic article has about 30 pictures. Dewitt would take 40,000 pictures to find those right answers. After all, a roll of film is cheap relative to the reward.

10 Tips to Lower Your Car Insurance Cost with Complete Risk Coverage

Car Insurance coverage is legally an unavoidable plight for most car owners and drivers. In the USA, all road-going vehicles are required to have auto insurance to ensure safeguard against accidents or other financial exposures. However, it comes at a cost not everyone can afford.

Many drivers avoid buying car insurance or filing minor or even major claims after an accident. The scenario can be broadly explained as – due to high insurance cost, 1 out of 8 motorists choose to drive uninsured, and many even consider canceling their car insurance in order to afford other expenses. With fluctuating economic conditions, people are trying to keep their costs as low as possible. However, in the absence of such auto insurance in Rochester NY, consumers are more exposed to risks and accidents.

There are several alternative options for low-income drivers and owners who are just trying to make ends meet. InsuranceTrak offers the widest selection of auto insurance programs at greatly discounted prices to help people from hitting the road uninsured. We have many useful suggestions consumers can use to make their insurance premium more affordable.

Tips to Lower Your Car Insurance Cost

Listed below are some of the things you can do to lower your auto insurance cost in Rochester, NY.

Tip 1- Check the market value of your car against the amount you are insured for – Ask your insurer to adjust the premium cost in accordance with the market value of the car to account for depreciation.

Tip 2- Choose a higher Deductible – Being willing to pay a higher deductible reduces your monthly premium. But, keep in mind the repair cost of an accident or any physical damage can be very high and costly.

Tip 3- Installing safety equipment – Get your car a new tracking device or alarm system. This will improve your car’s security, and may get you a discount on your policy. Once the tracking device is installed, inform your insurer and request a revised quote.

Tip 4- Have a good driving record – Driving records count for a policyholder. Drivers who are younger and have less driving experience will be charged insurance fees. Get a certified driving training course to build your driving record.

Tip 5- Do not make claims too often – Auto insurance claims, if made too often, will result in higher premiums. Claiming minor damage on your policy will drive up your premiums.

Tip 6- Keep your details updated – If you have moved to a different location in the same state, update your personal details within 24 hours. This may assist you in dropping your insurance premiums.

Tip 7- Choose your car wisely – In general, buying a high-performance car means greater risk to the driver and the car. So, high-performance cars call for higher premiums and more coverage. Just like anywhere else in the country, this applied to your auto insurance in Rochester NY.

Tip 8- Compare Insurance Quotes– Car insurance premium costs vary from company to company, so it pays to shop around. You can call InsuranceTrak to receive a comparison report by major insurers. Pick a company from the list that is financially stable with good ratings. Ask your friends and relatives for their recommendations.

Tip 9- It’s better to combine your household and car insurance together – A joint insurance policy of your home and car insurance can offer many benefits. You may have lower monthly premiums and maximum insurance coverage. Buy your homeowners and car insurance from the same insurer.

Tip 10- Maintain continuous car insurance history – Too much disruption in your car insurance history might increase your premiums. Maintaining continuous auto insurance coverage may help lower your costs over time.

The key to saving money is now in your hands!