Retirement is a process. Although we live in a world with unlimited opportunities to learn, work and achieve our goals, many of us put off the establishment of a sound retirement program. Since the mid 1970’s, the Federal Government has enabled most Americans the opportunity to participate in one of many “qualified” retirement programs.
Through your employer, you may have had the opportunity to contribute to a 401(k), 403(b) or Simple IRA program. These plans have been established through Congressional legislation and the IRS tax code. There are many regulations associated with these programs, but they do encourage personal participation in a routine tax-deferred savings strategy. Although most consumers only save 3 to 5% of their annual earnings, participation in a consistent savings process is a practical method for creating wealth in the future.
retirement means that one has saved enough during their working years to effectively replace their current income with other income streams. It is better to start early when saving money for the future. Too many consumers have delayed the implementation of their savings program and have lost valuable time. In an attempt to grow a “nest egg’ more quickly, some have taken too many risks with their investments – often resulting in greater losses. Yet, even for those who have not saved quite enough, there are strategies available to correct or improve one’s retirement income stream – safely!
There are many factors involved in creating a stable retirement:
- Becoming debt Free
- Accumulating Enough Retirement Savings to Replace Current Income
- Establishing Specific Accumulation Processes (so to avoid running out money)
- Establishing Safe Tax-Advantaged Distribution Systems
- Understanding the Value and Costs of Money – (knowing efficient money strategies).
Retirement Concerns:
- When should I start to save for retirement?
- How much should I save every year?
- Which Retirement savings program is best?
- Should I invest in the Stock Market?
- Can I lose My Retirement Savings in the Stock Market?
- Are there safe ways to grow my retirement savings?
- How Much will I need during Retirement?
- How Much Life Insurance will I need during Retirement?
- How can I avoid Running out of money in Retirement?
- Are their any Guaranteed Retirement Income programs available?
Saving for retirement is not a complicated process. There are many simple strategies available to answer these questions and prepare one for a successful retirement experience. For more details about establishing an effective retirement program Contact Us at your earliest convenience!
Loans: sale of the growing fifth alliance financial network
More and more Italians are resorting to the assignment of a fifth of their salary due to the need for liquidity.
The average loan requested is 20 thousand euros. The average age is 44, but one in six applicants is actually already retired
This is the interesting and at the same time worrying survey made by the Prestiti.it website. The analysis was made by taking into consideration over 20,000 loan applications submitted in the last three months.
Requests for the assignment of a fifth of the salary or pension represent about 16% of the total loans requested. Lenders prefer this tool during this time when they tend to lend with the dropper, as they estimate a low risk of default.
Applicant profile:
15% are permanent workers or retirees.
49% of the total, on the other hand, is a private employee.
32% a public or state employee.
Geographical distribution of requests:
Geographically, the percentage of request for the sale of the fifth increases in the regions of Southern Italy such as Calabria, Puglia, Sicily and Campania.
This survey is an index of the current scenario of the Italian economic situation, there are families who are no longer able to cope with their “shopping cart”. The increase in the prices of goods and services, salaries that do not follow the growth trend, inflation and increased taxes have generated a need for liquidity in families who are forced to resort to one of the few tools that banks grant with relative tranquility, the assignment of the fifth of the salary.
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Mortgage rates: situation in May 2012 alliance financial network
Mortgage rates proposed by banks: monitoring of the situation in May 2012.
Only a few solutions are proposed, among the most advantageous. The goal is to provide a general view on the credit market trend, accompanied by a final assessment.
Each offer indicated must however be evaluated personally, because it could be subject to any clauses or promotions not always valid. Investigation or appraisal costs are not taken into account: the analysis is performed exclusively on the rate.
The simulation is made for a first home purchase, 150 thousand euros of mortgage.
The proposed rate is valid as of 02/05/12.
Floating Rate - 20 years
Intesa Sanpaolo: 3.20% (1M Euribor + 2.80%)
Cariparma: 3.40% (Euribor 3M + 2.70%)
ING Direct: 3.81% (Euribor 3M + 3.10)
Floating Rate - 30 years
Intesa Sanpaolo: 3.50% (1M Euribor + 3.10%)
Cariparma: 3.70% (Euribor 3M + 3.00%)
ING Direct: 3.81% (3M Euribor + 3.10%)
Fixed Rate - 20 years
Intesa Sanpaolo - 5.50% (Finished rate)
Cariparma - 6.05% (IRS 20A + 3.40%)
Barclays - 6.19% (IRS 20A + 3.50%)
Fixed Rate - 30 years
Intesa Sanpaolo - 5.60% (Finished rate)
Barclays - 6.08% (IRS 30A + 3.50%)
Cariparma - 6.09% (IRS 30A + 3.55%)
As already announced (see article), the Euribor rate continues to hover around the minimum values for many months now. This makes variable rate mortgages very attractive, especially for those who intend to take out a short-term mortgage.
For those who, on the other hand, will take out a medium-long term mortgage (15 years or more), we point out that, with these rates, the current variable rate will be convenient compared to the fixed rate, up to an increase in the Euribor of one additional 2.30-2.50%.
If you believe that, for a long time to come, the Euribor will not appreciate this amount, then you can choose a variable rate.
If, on the other hand, you think that the Euribor, within a few years, will rise above this threshold and will remain there for a long time, then it is better to choose a fixed rate right away.
Clearly, having no crystal ball, no one can make such long-term predictions, so everyone's choice must be based more on their present and future earnings expectations.
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Framework Agreement alliance financial network
The Framework Agreement is an operational programming tool that allows you to invest in planned in specific areas of intervention. It is an agreement concluded between one or more contracting stations and one or more economic operators whose purpose is to establish the clauses relating to the contracts to be awarded during a given period, in particular with regard to the prices and quantities envisaged.
With this tool we intend to simplify the award of serial and repetitive contracts. Compared to the previous ones
supply experiences of contracting entities, including the use of Consip1 agreements, the framework agreement is distinguished by the possibility of being concluded with several economic operators.
The contracting entities that sign framework agreements are Regions, Autonomous Provinces, the Ministry of Economy and Finance and Central Administrations that have the competence for specific areas of intervention envisaged.
The framework agreement is governed by Article 59 of the Procurement Code.
Here are just a few points of interest:
Framework agreements concluded with several economic operators
- When a framework agreement is concluded with several economic operators, the number of these must be at least equal to three, provided that there is a sufficient number of economic operators that meet the selection criteria, or of acceptable offers corresponding to the award criteria.
- Contracts based on framework agreements concluded with several economic operators can be awarded by applying the conditions established in the framework agreement without new competition.
- Contracts based on framework agreements concluded with several economic operators, if the framework agreement does not set all the conditions, can be awarded only after relaunching the competitive confrontation between the parties under the same conditions
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