tag:blogger.com,1999:blog-52508989776787995422024-03-08T10:57:42.191-08:00Bankrate.comBankrate.comhttp://www.blogger.com/profile/01758212917747078550noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-5250898977678799542.post-40700546911498462922011-08-02T11:44:00.001-07:002011-08-02T13:16:02.065-07:00How to get the best mortgage<div class="MsoNormal"><b style="mso-bidi-font-weight: normal;"></b></div><div class="MsoNormal">Understanding the home loan application process can help you get the best <a href="http://knol.google.com/k/bankrate-inc/calculators-add-clarity-to-your/1yd8359a5z7rb/10#">mortgage rate</a> and lowest fees at closing.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>Follow this checklist as you shop for a home loan.</b></div><ul><li><span style="font-family: Symbol;"><span style="font: 7pt "Times New Roman";"></span></span>Check your credit reports from all three of the major credit-reporting bureaus and fix any errors or outdated information. Borrowers with good credit scores qualify for more home loans and better mortgage rates.</li>
<li><span style="font-family: Symbol;"><span style="font: 7pt "Times New Roman";"> </span></span>Get pre-approved for a mortgage by disclosing your income, savings and outstanding debt and having a lender check your credit report and credit score. It’s typically free, and if you qualify, a lender will supply a letter that states how much can be loaned.</li>
<li><span style="font-family: Symbol;"><span style="font: 7pt "Times New Roman";"></span></span>Apply for an FHA loan if you don’t meet the qualifying standards for a conventional home loan.</li>
<li><span style="font-family: Symbol;"><span style="font: 7pt "Times New Roman";"></span></span>Hunt down the lowest mortgage rate. Use a database that aggregates the best mortgage rates, and get an understanding of the cost of home loans.</li>
<li><span style="font-family: Symbol;"><span style="font: 7pt "Times New Roman";"></span></span>Factor in all of the costs of homeownership when you budget for your monthly mortgage payment. As a homeowner, you will owe property taxes, homeowners insurance premiums, utility bills, maintenance costs and perhaps HOA fees. A mortgage calculator can be of help in determining a monthly payment you can afford based on your income and other expenses.</li>
<li><span style="font-family: Symbol;"><span style="font: 7pt "Times New Roman";"></span></span>Ask the seller to pay some of the closing fees for you, or negotiate with the lender to reduce the expenses such as origination fees, settlement charges and administrative fees. </li>
<li><span style="font-family: Symbol;"><span style="font: 7pt "Times New Roman";"></span></span>Use a mortgage calculator to determine if you should pay off points to lower your rate or use that money to make a larger down payment.</li>
</ul>Bankrate.comhttp://www.blogger.com/profile/01758212917747078550noreply@blogger.com0tag:blogger.com,1999:blog-5250898977678799542.post-55510559599112578982011-07-29T11:44:00.000-07:002011-08-04T11:07:53.109-07:00Comparing online brokerages<div class="MsoNormal"><b style="mso-bidi-font-weight: normal;"></b></div><div class="MsoNormal">Online <a href="http://knol.google.com/k/bankrate-inc/fee-watch/1yd8359a5z7rb/8#">brokerage accounts</a> have made stock trading and investing accessible to more people.</div><div class="MsoNormal">When you’re ready to invest like a pro, make sure you consider the following factors so you choose the brokerage company that’s right for you.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>Fees</b></div><div class="MsoNormal">Trades may be inexpensive, but online brokerages have come under fire for having a slew of hidden, unadvertised fees.</div><div class="MsoNormal">The American Customer Satisfaction Index reports that online brokerages’ fees are most likely to irritate consumers.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>Customer satisfaction</b></div><div class="MsoNormal">Customer service and easy-to-use online interfaces can make up for the fees.</div><div class="MsoNormal">Charles Schwab topped the ACSI’s list for customer satisfaction of Internet brokerages. Fidelity Investments followed.</div><div class="MsoNormal">E-Trade performed the worst with customer satisfaction, but its rank in the annual report has improved over time.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>Insuring investments</b></div><div class="MsoNormal">See if your brokerage product has insurance protection. </div><div class="MsoNormal">Insurance protection for brokerage products protects investors against insolvency of the financial institution, but it doesn't compensate for investment losses or bad<a href="http://knol.google.com/k/bankrate-inc/security-for-brokerage-accounts/1yd8359a5z7rb/9#"> investment</a> decisions.</div><div class="MsoNormal">The Securities Investor Protection Corp., or SIPC, is the agency that reimburses investors with assets in bankrupt and financially troubled brokerage firms to a limit of $500,000 per customer, including a maximum of $250,000 for cash claims. Financial institutions may have insurance over and above the coverage it has as a member of the SIPC, but this also would only protect against insolvency.</div><div class="MsoNormal">Regardless of the brokerage company you choose, remember that you can consult with a fee-only financial adviser to ensure that you’re comfortable with what you’ve invested in and the risks you face with your investments.</div>Bankrate.comhttp://www.blogger.com/profile/01758212917747078550noreply@blogger.com0tag:blogger.com,1999:blog-5250898977678799542.post-9319602684404359562011-07-22T09:33:00.000-07:002011-08-04T11:26:25.340-07:003 shortcuts for low maintenance investing<div class="MsoNormal"><a href="http://knol.google.com/k/bankrate-inc/security-for-brokerage-accounts/1yd8359a5z7rb/9#"><b>Brokerage Accounts:</b></a><br />
<b>How to automate investing</b></div><div class="MsoNormal">Investing doesn’t have to be complicated, and the beauty of mutual funds is that they simplify investing.</div><div class="MsoNormal">Below are the pros and cons of target-date funds, index funds and lifestyle funds, popular shortcut plans that let investors earn yields without constantly tweaking their portfolios.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>1) Target-date funds</b></div><div class="MsoNormal">The target-date fund is named by its retirement year, or the year you plan to start withdrawing money from the fund. As the date nears, the fund’s asset allocation shifts to become more conservative, and adjustments happen automatically.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">These funds can charge high fees, so try to find a fund with an expense ratio of 1 percent or less. They also tend to be light on international stocks. The typical target-date fund has about 20 percent invested overseas, but aim for 30 percent or even more. There are an increasing amount of good foreign businesses, and you don’t want to limit your portfolio’s growth by not having much exposure to foreign stocks. </div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>2) Lifestyle fund</b></div><div class="MsoNormal">Also known as asset allocation funds, lifestyle funds offer a conservative, moderate, balanced or aggressive <a href="http://www.bankrate.com/finance/investing/brokerage-accounts.aspx">investing</a> approach.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">These funds let investors choose funds based on their own risk-and-return preference, and they offer broad diversification in one fund.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Investors must remember to adjust these funds, but they don’t have to tweak them too often. It may be a matter of scaling down aggressive investments every 10 or 15 years.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b> 3) Index fund</b></div><div class="MsoNormal">An index fund follows a particular market index, such as Standard & Poor’s 500.</div><div class="MsoNormal">This breed of mutual funds is typically inexpensive because investors aren’t paying for a fund manager. </div><div class="MsoNormal">Without a manger actively moving money into well-performing sectors, though, investors may not be pleased to see index funds passively following the market, both up and down.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Not all index funds are diversified, so make sure your index fund is broad enough, and don’t buy an index fund for a specific industry group. </div>Bankrate.comhttp://www.blogger.com/profile/01758212917747078550noreply@blogger.com0tag:blogger.com,1999:blog-5250898977678799542.post-79089102468595615852011-05-23T10:52:00.000-07:002011-05-23T10:52:28.623-07:00Bullets, barbells and CDARS for your CD’s<!--[if gte mso 9]><xml> <o:OfficeDocumentSettings> <o:RelyOnVML/> <o:AllowPNG/> </o:OfficeDocumentSettings> </xml><![endif]--><!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> <w:SplitPgBreakAndParaMark/> <w:DontVertAlignCellWithSp/> <w:DontBreakConstrainedForcedTables/> <w:DontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true"
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<div class="MsoNormal"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">There are many ways to manage your investments, one of the most popular being buying certificate of deposit or a <a href="http://knol.google.com/k/bankrate-inc/draining-your-principal-erasing-your/1yd8359a5z7rb/7#">CD</a>. But not all CD’s are created equal nor do you have to approach every CD purchase with the same strategy each time. </span></div><div class="MsoNormal"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">Here are some strategies you might have yet to consider.</span></div><div class="body"><br />
</div><div class="body"><span class="gsubhead"><b>Strategy bullets</b></span></div><div class="body">With a bullet strategy, you stagger purchases of CDs but make sure they all mature around the same time. By staggering the purchases you reduce the risk of buying all the CDs when rates are at their lowest…a good strategy when you're saving money for a specific goal such as college or a new future big purchase-like a car-you know you’ll need money for in four or five years.</div><div class="body"><span class="gsubhead"><b style="mso-bidi-font-weight: normal;">Strategy barbell</b></span><br />
The barbell strategy allows you to take advantage of high yields at some point on the yield curve while hedging your bet at another point. Balancing your investment you use some money to buy CD’s with longer maturities paying the best interest, and spend the rest of your money on short-term CD’s allowing some liquidity and the advantage of possible rate changes.</div><div class="body"><br />
</div><div class="body"><span class="gsubhead"><b>Strategy CDARS</b></span><br />
Normally, bank deposits are insured up to $100,000 by the Federal Deposit Insurance Corporation, or FDIC, and up to $250,000 in the case of retirement accounts. CDARS, a deposit placement service, gives you a way to invest more than $100,000 in CDs, with the full amount insured. Certificate of Deposit Account Registry Service, is run by Promontory Interfinancial Network. Banks that subscribe to CDARS can give individual CD buyers up to $10 million in FDIC coverage. </div><div class="body">There are approximately 700 banks across the country offering CDARS.</div><div class="MsoNormal"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">The bullet, barbell and CDARS are just a few ways to approach your CD investment. It’s your money, be smart when using it to make you more money.</span></div><div class="MsoNormal"><br />
</div>Bankrate.comhttp://www.blogger.com/profile/01758212917747078550noreply@blogger.com0tag:blogger.com,1999:blog-5250898977678799542.post-7899540600413900482011-04-05T11:29:00.000-07:002011-04-05T11:29:05.502-07:00How to use a mortgage calculator<div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">An online <a href="http://goarticles.com/article/More-uses-for-mortgage-calculators/4443828/">mortgage calculator</a> can quickly and easily predict both your mortgage payment and amortization schedule. All you’ll need to get an accurate account is the following information:</span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">1. Mortgage amount.</span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">If you're looking to buy a new home a mortgage calculator is a good way to estimate how much home you can afford. To get this number simply enter the amount of the house you’re considering buying, minus any down payment you may be planning on making. If you're refinancing an existing home loan, this number will be the outstanding balance on your mortgage.</span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">2. Mortgage term.</span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">This is the length of the loan you're considering. Many young or first time homeowners go with a standard 30 year loan but there are other terms readily available. There are both longer and shorter term mortgages available from various lenders. Home loans can range from as short as 5 years to some as long as 40 years or more.<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">3. Interest rate.</span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">Interest rates can vary from person to person either because of their own personal credit history or from geographic area to geographic area. You can get a projected rate by researching the mortgage rate tables for the area where you’ve been house hunting. </span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">4. Mortgage start date.</span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">If you're buying a home or refinancing soon, this should be the date you plan on closing. But if you're trying to get more information on a mortgage you already have, set the date to your original closing date.</span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">Once you’ve entered these four pieces of information into the calculator it can instantly display a hypothetical mortgage payment for the situation you’ve entered. By changing key information, such as the length of the loan or slight changes to the interest rate, you can see how small changes can effect what you ultimately pay for your home. Wondering what you'll owe on your mortgage in July 2019? Curious how much you home will ultimately cost you once all the interest has been taken into account? By clicking the “Show/Recalculate Amortization Schedule” you can find out. </span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">Because the mortgage calculator also offers the ability to enter any extra payments you may make on your loan it can also show you how much you can cut down on the amount of interest you pay or how to reduce the length of your loan. </span></div>Bankrate.comhttp://www.blogger.com/profile/01758212917747078550noreply@blogger.com2tag:blogger.com,1999:blog-5250898977678799542.post-58458903958205724462011-04-05T08:27:00.000-07:002011-04-05T08:27:18.927-07:00Hedge the risk with a CD ladder<div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">Even though CDs are a low-risk investment, you may be looking for something with even more security in a down economy. <a href="http://knol.google.com/k/bankrate-inc/locating-decent-cd-rates/1yd8359a5z7rb/4">CD rates</a> are fairly low, but building a CD ladder can hedge the risk of rate cycles by giving you the benefit of investing in both short and long-term maturities. It also gives you the advantage of liquidity, as laddering keeps your CDs consistently maturing and paying out. </span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">How it works</span></b></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">Think of the rungs on a ladder to better picture how a CD ladder works. The first rung of the ladder is the shortest period. If you have $100,000 to invest over a five-year period, you’d invest $20,000 into a one-year CD on the first rung. The second rung would be a two-year CD at another $20,000 and the third a three-year CD at $20,000. This continues up to five-years. As each CD matures the next moves up a year, allowing you to reinvest that money each year or use it for other expenses. Since CD rates are low, CD laddering gives you the opportunity to reinvest each year if yields rise. </span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Find the best CD rates</span></b></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">If you decide to build a CD ladder, it’s important to find the best rates possible. Look for deals at banks, credit unions, savings institutions and brokerage firms to compare before you begin. Some institutions are posting higher rates to attract deposits</span><a href="" name="_GoBack"></a><span style="font-family: Calibri;">. </span></div>Bankrate.comhttp://www.blogger.com/profile/01758212917747078550noreply@blogger.com0tag:blogger.com,1999:blog-5250898977678799542.post-45493124669049767612011-01-28T13:39:00.000-08:002011-01-28T13:39:45.281-08:003 situations that benefit by using a mortgage calculator<!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:DoNotShowComments/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> <w:SplitPgBreakAndParaMark/> <w:DontVertAlignCellWithSp/> <w:DontBreakConstrainedForcedTables/> <w:DontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true"
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<div class="MsoNormal"><span style="color: black;">A </span><a href="http://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx">mortgage calculator</a><span style="color: black;"> is typically used to calculate payments for a new mortgage, but it can also be used for several other common calculations. Consider these three other mortgage calculator uses. </span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b><span style="color: black;">Considering an adjustable-rate-mortgage</span></b></div><div class="MsoNormal"><span style="color: black;">An adjustable-rate-mortgage, or simply ARM, is enticing due to its lower initial interest rate, but don’t be wooed until you plug it in to a mortgage calculator. Enter the ARM interest rate into Bankrate’s mortgage calculator with a 30-year term. Compare those payments to the conventional 30-year fixed mortgage payments. You’ll either be delighted about the possible benefits of an ARM – or pleased to step away from the risky venture despite the potential advantages. </span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b><span style="color: black;">Saying “bye” to private mortgage insurance</span></b></div><div class="MsoNormal"><span style="color: black;">When you have 20 percent equity in your home, you can request that the lender waive the private mortgage insurance obligation. </span>Using the <b>mortgage calculator</b><span style="color: black;">, you can see when you’ll reach this magic number. </span></div><div class="MsoNormal"><span style="color: black;">Enter the closing date and original amount of your home mortgage and select “show/recalculate amortization schedule.” Multiply your original mortgage by 0.8 and find the closest matching number in the amortization schedule’s far-right column. This is approximately when you’ll have 20 percent equity in your home. </span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b><span style="color: black;">Paying off your mortgage early</span></b></div><div class="MsoNormal">Bankrate’s <a href="http://knol.google.com/k/bankrate-inc/the-ins-and-outs-of-a-mortgage/1yd8359a5z7rb/3#">mortgage calculator</a><span style="color: black;"> allows you to enter amounts for “extra payments,” which can shorten your term and save you money. To avoid being the typical 30-year-fixed-rate mortgage holder, whose total interest payments are usually larger than the original principal on the loan, calculate potential savings using the calculator. Enter an extra payment goal in one of the boxes and click “show/recalculate amortization schedule” to see the difference. You could knock off years of your term and save significant amounts of money. </span></div><div class="MsoNormal"><br />
</div>Bankrate.comhttp://www.blogger.com/profile/01758212917747078550noreply@blogger.com2tag:blogger.com,1999:blog-5250898977678799542.post-50303793626941796572011-01-07T14:03:00.000-08:002011-01-07T14:03:43.828-08:003 routes to better CD rates<div class="MsoNormal" style="margin: 0in 0in 0pt;">While CD rates are hovering near record lows, they can still provide a safe place to store your money while earning some additional income. All CDs are not created equal, though. As you begin your quest to lock in an interest rate, here are three tips to help make your search more successful.</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><b style="mso-bidi-font-weight: normal;">Take CD shopping seriously</b></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;">Finding the most competitive <a href="http://knol.google.com/k/bankrate-inc/6-steps-for-a-successful-cd-search/1yd8359a5z7rb/2#">CD rates</a> requires some research. First, determine how much you can afford to invest and the length of time you can part with your funds. Then, start comparing rates at a wide range of banks. Rather than simply look at credit unions and banks in your town, go online to compare the best CD rates available nationwide. While larger amounts and longer maturity periods typically mean higher yields, you can find attractive rates for short-term CDs, too. </div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><b style="mso-bidi-font-weight: normal;">Find deals that do more for your dollars</b></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;">Remember – the banking industry is competing for your money. With creative marketing departments on their sides, banks promote all kinds of programs for CDs to entice your interest. These deals may lock you into a longer maturity period, but they typically reward you with a higher yield. To determine if the deal is worth it, you can calculate your CD income before you invest.</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><b style="mso-bidi-font-weight: normal;">Look closer at your CD</b></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;">Before you make your final decision on a new CD, be sure to educate yourself on the fine print. The majority of CDs have stiff early withdrawal penalties. If you have any concern that you may need to remove your money before your account matures, make sure you find a CD with some flexibility.<span style="mso-spacerun: yes;"> </span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div>Bankrate.comhttp://www.blogger.com/profile/01758212917747078550noreply@blogger.com0tag:blogger.com,1999:blog-5250898977678799542.post-64887595235712425272010-12-20T12:36:00.000-08:002010-12-20T12:36:10.955-08:003 keys to successful retirement planning<!--[if gte mso 9]><xml> <o:OfficeDocumentSettings> <o:AllowPNG/> </o:OfficeDocumentSettings> </xml><![endif]--><!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:DoNotShowComments/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> <w:SplitPgBreakAndParaMark/> <w:DontVertAlignCellWithSp/> <w:DontBreakConstrainedForcedTables/> <w:DontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true"
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<div class="MsoNormal"><b>3 retirement planning essentials</b></div><div class="MsoNormal">For most, retirement is the light at the end of the tunnel; but if you don’t plan it right, that light could disappear. Solid <a href="http://knol.google.com/k/bankrate-inc/self-employment-retirement-planning/1yd8359a5z7rb/1#">retirement planning</a> requires you to implement a plan that leaves you with enough retirement income to last you the rest of your years. Unfortunately, it’s easy to underestimate the amount of monthly income you’ll need. A few essentials can keep you on track. </div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>Determine your needs<a href="" name="_GoBack"></a></b></div><div class="MsoNormal">According to the Department of Labor, you need to replace an estimated 70 to 90 percent of pre-retirement income for each year of retirement. The easiest way to do that is to make a target goal and meet it. When retirement planning, estimate your target goal based on your current income and how long you expect to live after retirement. Then factor in extra variables such as medical costs, vacation expenses and fixed costs like owning a home. </div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>Review your retirement planning</b></div><div class="MsoNormal">Once you have a target goal in mind and your retirement plans are in place, you should review the plan regularly to see your progress. Assess how you’re doing. Once things look good, start factoring in Social Security benefits, future salary increases and the rate of return you’re getting. Inflation and other assets that you have should be factored into your retirement plan as well. <span> </span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>Create a plan</b></div><div class="MsoNormal">It’s good to have an official plan set in place that you can follow to hit your retirement goals. Eliminate any debts that you currently have and start contributing as much as you can to your <a href="http://www.bankrate.com/finance/retirement/retirement-planning.aspx">retirement accounts</a>. Consider working past your retirement age to contribute more to your retirement and reap the benefits that Social Security offers for those that retire later. </div>Bankrate.comhttp://www.blogger.com/profile/01758212917747078550noreply@blogger.com1tag:blogger.com,1999:blog-5250898977678799542.post-76925100168744872972010-11-02T12:44:00.000-07:002010-11-02T12:44:35.052-07:00Retirement planning with stocks at age 50<div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">You may be feeling a little shaky about investing in stocks if you’re age 50 or older, but don’t let the rocky market completely scare you away from </span><span style="font-family: Calibri;">retirement planning</span><span style="font-family: Calibri;">. While many lost a large chunk of their money due to the falling market, research has shown that the market generally trends upward over long periods. If you’re age 50, there are still 15 years until retirement, meaning that you can take on some risk as long as you’re careful. </span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Balance your stocks</span></b></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">As a general rule, subtract 100 from your age to get the percentage of stocks you should have in your portfolio. So if you’re 50, then you should have 50 percent of your portfolio in stocks. However, if you have little risk and a high life-expectancy, many experts agree that the percentage should be more around 65 or 75. After you turn 60, pull the percentage down to 50. If you don’t feel comfortable with that much risk, abide by the rule of thumb for investing in stocks when </span><a href="http://knol.google.com/k/bankrate-personal-finance/retirement-planning-the-creative-way/3r5lgcnr2uwbe/6#"><span style="font-family: Calibri;">retirement planning</span></a><span style="font-family: Calibri;">.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Put retirement planning on autopilot? </span></b></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">Target-date funds take the decision making out of investment by automatically adjusting the amount of stocks, bonds and cash in the fund as you age. While they can provide an easy way to manage your retirement fund, it may be more beneficial to rebalance your portfolio on an as needed basis. You may get better returns through a proactive approach of checking your investments at least once a year. <span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Can you afford the risk?</span></b></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Calibri;">If your savings is high enough, and you only need to spend a small amount to supplement your pension, then you can afford to invest aggressively. If you have a smaller savings and have to take out a large amount per year, then you should be more invested in fixed income. </span><a href="http://www.blogger.com/" name="_GoBack"></a></div>Bankrate.comhttp://www.blogger.com/profile/01758212917747078550noreply@blogger.com0tag:blogger.com,1999:blog-5250898977678799542.post-61026996118605945752010-10-26T12:16:00.000-07:002010-10-26T12:16:47.473-07:00Pay off early with a mortgage calculator<div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Verdana, sans-serif;">A 30 year fixed rate mortgage may keep monthly payments significantly lower than a 15 year, but the interest can pile up quickly. At the end of a 30 year mortgage, the interest payments can end up being more than the original loan principal. By making extra payments, a homeowner can shorten the term and save a good deal of money. A <span style="color: purple;"><a href="http://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx">mortgage calculator</a></span> can help compute how much extra a homeowner needs to pay to save big.</span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><b><span style="font-family: Verdana, sans-serif;">How to use the mortgage calculator </span></b></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Verdana, sans-serif;">Find a calculator to fit your needs. Bankrate.com offers a calculator that has an “extra payments” feature. Input the mortgage amount, the term and the interest rate of the current mortgage. Then hit “calculate” to see your monthly payments. Underneath “extra payments,” enter either a monthly, yearly or one-time payment. Click on “show/recalculate amortization table”, and check the amortization table to figure out how much can be saved. Play around with the payments to find the best extra payment for the budget.</span></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><b><span style="font-family: Verdana, sans-serif;">Refinance instead</span></b></div><span style="line-height: 115%;"><span style="font-family: Verdana, sans-serif;">Those looking to save more can also find out how much refinancing can save them with a refinancing </span><a href="http://knol.google.com/k/bankrate-personal-finance/a-mortgage-calculator-can-save-10k/3r5lgcnr2uwbe/5#"><span style="font-family: Verdana, sans-serif;">mortgage calculator</span></a><span style="font-family: Verdana, sans-serif;">. The calculator compares the current mortgage to the new one. It also takes other fees into account and computes a new monthly payment, monthly savings and the difference in interest. It then provides the total cost and the months required to re</span><a href="http://www.blogger.com/post-edit.g?blogID=5250898977678799542&postID=6102699611860594575" name="_GoBack"></a><span style="font-family: Verdana, sans-serif;">coup it. </span></span>Bankrate.comhttp://www.blogger.com/profile/01758212917747078550noreply@blogger.com7tag:blogger.com,1999:blog-5250898977678799542.post-33054509043097855342010-09-30T14:03:00.000-07:002010-09-30T14:03:52.122-07:003 Keys to Successful Retirement Planning<div class="MsoNormal">If you thought that buying a home was hard, <b>retirement planning</b> can be just as difficult. The toughest fiscal challenge most people face, planning for the non-working years takes time and money. Those who do it well will spend their golden years living financially stress-free. Here's how to become a retirement planning ninja. </div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>Create a target goal</b></div><div class="MsoNormal">How much will you need? That's the million-dollar question, literally. Since the Department of Labor estimates that you'll need to replace 70 percent to 90 percent of your pre-retirement income for each year of retirement, you can estimate your target goal based on your current income and life expectancy. Of course, this is just a rough estimate. Factors like whether or not you'll own a home at retirement, vacationing habits and medical expenses will significantly impact how much you'll need to save. </div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b>Assess your progress</b></div><div class="MsoNormal">With a target goal in mind, you can assess how well you're doing. Here's where it gets tricky. On top of examining how much you've already stashed away in a 401(k), 403(b), 457 plan or IRA account, accurate retirement planning requires you to factor in such variables as Social Security benefits, the inflation rate, upcoming salary raises, the rate of return on your current <a href="http://knol.google.com/k/bankrate-personal-finance/retirement-planning-3-life-stages/3r5lgcnr2uwbe/4#">retirement investments</a> and the value of other assets such as pensions and life insurance. You may not know all the answers offhand, so you'll have to employ some guesstimates.</div><div class="MsoNormal"><br />
</div><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">To simplify the math, Bankrate's <a href="http://www.bankrate.com/calculators/retirement/retirement-calculator.aspx">retirement planning calculator</a> can provide a projection of how much you'll have based on your current savings rate, as well as some suggestions </span>Bankrate.comhttp://www.blogger.com/profile/01758212917747078550noreply@blogger.com0tag:blogger.com,1999:blog-5250898977678799542.post-21583118484244899102010-08-31T12:30:00.000-07:002010-08-31T12:30:17.367-07:0020-somethings! Have You Thought About Retirement Planning Yet?Of course when you are in the midst of your 20s, who really thinks about <a href="http://www.bankrate.com/finance/retirement/retirement-planning.aspx">retirement planning</a>? Think back to the good times of working all day and staying out all night just to repeat the cycle. Then you begin approaching your 30s and realize your long term goals which include retiring comfortable in your 50s. Executing investing strategies at a young age allows you to put aside a low amount of money per year while growing your savings for the long term.<br />
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<b>Begin saving today</b><br />
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Planning for retirement is not like planning for a big party; it takes long term goal setting which can be accomplished by taking the time to write your goals and research different investment options. Do you qualify for a <a href="http://www.bankrate.com/calculators/retirement/401-k-calculator.aspx">401k</a> at your job? Do you know what a Roth IRA is? You may think it is hard to start saving but in reality, putting away even $50.00 per month in your 20s will help get you on your way to saving for retirement. <a href="http://www.bankrate.com/calculators/retirement/retirement-plan-income-calculator.aspx">Calculate retirement savings</a> to find out how much you will have saved in 25 years.<br />
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<b>Where does the money go</b><br />
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Enjoying life in your 20s can be accomplished but on a budget versus spending every cent which you worked hard for. Simple tasks like getting into the habit of saving $25.00 each pay check to send to a savings account or even savings accounts which automatically pull money starts the retirement planning process without too much hassle. <br />
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<b>How much should you save </b><br />
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<a href="http://knol.google.com/k/bankrate-personal-finance/retirement-planning-even-if-you-are/3r5lgcnr2uwbe/3#">Retirement planning</a> in your 20s can be the last thing you want to think about. Depending on your job and living situation, your contribution to your retirement savings account can vary. Some employers will match your contribution and if your living expenses are minimal, consider contributing the maximum allowed. If you are unsure of where or how to invest, consider contacting an investment adviser to help you with your retirement planning.<br />
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<b>Retirement planning check list:</b><br />
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• Send at least $25.00 each paycheck toward savings<br />
• Write down your long term retirement goals<br />
• Contact an investment adviser<br />
• Contribute to employer contribution retirement accountBankrate.comhttp://www.blogger.com/profile/01758212917747078550noreply@blogger.com0