One Favored Life

living a life of travel, money and fun

Planning For Your Retirement (So You Can Travel More!)

Money
Financial security in retirement doesn’t just happen. It takes planning and commitment and, yes, money. And if you want to be able to do lot of travel in your retirement, then the planning starts now!

Every time the word retirement pops up, everyone instantly thinks of finances. Yes, financial security is everything for anyone thinking retirement or headed there. Most people nowadays do not wait till they reach the age limit for retirement, the number of those taking early retirement is constantly increasing. As a result it is very important to note what you need to take into consideration when planning for your retirement. Below are some facts about retirement:

• More than half of people do not plan for their retirement in advance
• Most Americans spend twenty years in retirement on average

1. Start saving, keep saving, and stick to your goals
Saving is very rewarding so whether you are doing it to secure your retirement years financially or it is simply for investments, never stop saving. You can always start with small amounts and then keep increasing with time. If you begin saving early enough, you will be able to accumulate more money. As you make plans for your savings always have retirement as a priority. Make plans and abide by those plans to the latter.

2. Know your retirement needs
Retirement can be quite expensive contrary to what most people think to what most people think. The way to a financially secure retirement is to plan ahead otherwise, you will face financial challenges that will force you to lower your living standards. A retirement calculator can help you plan.

3. Contribute to your employer’s retirement savings plan
Sign up to retirement plans provided by your employer, contribute as much as you can towards it. Since deductions are automated, you will always be forced to contribute without failing.

4. Learn about your employer’s pension plan
Confirm whether an existing pension plan provided by your employer covers you. You can request for an individual benefit statement to check whether the benefits are worth. You also consider what happens to your pension savings when you switch jobs. Also check whether you are part of your spouse’s benefits.

5. Consider basic investment principles
You savings style will directly determine how much you save. Be aware that economic challenges such as inflation may affect your savings. You should also note how your savings are invested and your investment options. You can invest into several different investments, this way you will be able to cut the risks and boost returns you are entitled to. Knowledge on management of funds is directly related to financial security.

6. Don’t touch your retirement savings
Never withdraw your retirement savings. This would have a considerable effect on your principal amount and you would not want that. If you have to switch from one job to another, let leave your savings in your current account.

9. Find out about your Social Security benefits
Calculate how much you are entitled to from your social security benefits. You can use the retirement estimator to calculate. In many cases it is normally about forty percent of what you were earning before your retirement.

Benefits of Hiring Vacation Home Caretaker Services

Travel
There are so many ideas that you will have regarding where to spend your holiday. Most of the very common places that people spend their holiday is the vacation homes. Here, they can spend some time away from home and enjoy the serenity of a distant environment. Thus, there is no doubt that these homes play a very important role to many people. For those who do not have, they probably have a dream of ever owning one. In this case, there is no doubt that you will need a vacation home caretaker.

This is one of the most valuable properties that many people boast of having. It is however not possible to be in these homes all the time. Thus, in most of the cases, you will find that you are away from here. When this happens, then there is no doubt that you will need to trust someone with your property. This is the reason you hire someone to take care of it, as you will be away.

There are various ways that you can select these services. The first thing that you should realize is that there should be professionalism. Through this, you will be able to relax knowing that your place is in safe hands. Some people assume that it is far much cheaper when they hire just anyone to take care of their property. However, in the end, you will realize that you are taking such a great risk.

The first thing that you should do is to seek referrals. If you know of friends who have such homes, it would be better if you asked them if they can give you any referrals. The good thing about them is that you will get people whom they already know their reputation. This way, chances of getting disappointed will be quite low.

Other than this, you can also search on the internet for companies that offer these services. However, for services that you get from this type of forum, it will be better if you are quite careful about how you select them. The first thing should be to get a list and then eliminate them using a special strategy.

One of the ways that you can use to get rid of quarks is the issue of whether the company is insured and licensed. At the end of the day, you cannot trust someone with your homes yet they have not even secured their own job. This might be risky as they may also encounter cases of burglary.

The other issue is on the number of years that they have been in business. Normally, this is what will determine the kind of services that you receive. Often, it is good if you hire companies that have been in the business for some time. At least you will be confident when you are trusting them with your own.

There is no doubt that a home will do you good in terms of fun. However, vacation home caretaker services will be quite useful. This is the only way you will protect your property.

Financial Security Requires You to Have a Proper Strategy in Place

20/365- "It does not boast, it is not proud..."
There was a time when people believed that if they had land, they were financially secure. They could farm the land, grow food on it, be landlords or find other uses for it. But poor weather, crop diseases, and economic downturns quite often left property owners unable to even pay taxes.

It was also earlier thought that if you had a good job with a large company or the government you had financial security, from the steady income that these jobs offered. But economic downturns, job cuts and competing business led to this becoming just another myth. Governments have tried to create safety nets like Social Security, that does give a modicum of financial freedom, but even these are rarely more than at a subsistence level. What then does a person need to do to have financial security?

The best strategy to achieve any form of freedom from financial worries is to minimize risk and always ensure that you have a number of income avenues. You achieve some financial security if you are able to ensure that your sources of avenue are reasonably safe and give you reasonable returns. This process can be assisted if you are constantly weighing the three important aspects that make for financial security. These are:

• Assets
• Income
• Expenditure

Assets form the base for your financial strength, and must be as far as possible without any encumbrances. A mortgaged home will not fall completely within this, though valuables and jewelry will. Money in the form of investments is also subjected to risk and does not give complete protection. The degree of risk will however vary from Certificates of Deposits, mutual funds, share and stocks, commodities or any other avenue.

Income has to be steady and something that you can rely on, if you have to have the required security. This is rarely completely under your control and there always external factors that can make a difference, like job losses, reduction in interest rates, stock market variations and a general economic downturn.

Expenditure is the one area that can always be under your control and play a vital role in ensuring financial security. Learn to live minimally and you will be far more secure than all your friends and acquaintances and probably much happier as well. Save as much as you can, and do this systematically, by taking advantage of every possible avenue, so that your future is looked after. The ultimate aim, of any financial security strategy that you follow, is to ensure that you have no worries for living comfortably, even when your career is over.

Laura’s Top Travel Tips

Travel

Nothing is better than going out into the world and exploring. If you have caught the travel bug and you want to see the world, you will want to be sure that you are adequately prepared. Traveling can be stressful. It is important that you prepare yourself to travel as smoothly as possible. In this article, we will be going over some of the top travel tips that you should utilize on your next trip around the world.

1. Patience.

The first thing that you need to do when you travel is ensure that you keep your patience. The truth is, things are going to go wrong a lot if you travel frequently. Because of this, you need to learn to not sweat the stuff that you simply cannot control. Life is literally too short to be annoyed at everything. Plus, you are not going to be friendly and pleasant to be around all the time if you do. Take a deep breath and remember that things could be a lot worse.

2. Laugh At Yourself.

A lot of people may avoid participating in new things and engaging in new experiences because they are scared to look stupid and/or they do not want to be judged. The truth is, when you are traveling, you need to really let your guard down and have fun. You may look like a fool at times, but you are going to be creating new experiences and you will have plenty of memories to share because of it. If you spend your whole time traveling scared to talk to locals, you are going to miss out on some of the best interactions that you could have in your entire life. Don’t be afraid to look like a clown at times. Be yourself and enjoy the experience.

3. Bring Cash.

The worst thing that you can do on your journey is forget to bring cash. Cash is literally King around the world. In order to be covered during an emergency, you are going to want to have cash stashed around for safe keeping. This is going to help you in case something happens, you lose your wallet, your credit cards stop working, or the ATM’s run out of money. By stashing cash in different places, you will be able to diversify yourself and protect yourself in case things go wrong.

4. Take A Lot Of Photos.

Nowadays with digital cameras and memory cards, you can never take enough photos. You should keep a camera and/or something that can take pictures on you at all times. This will help you avoid missing out on anything that you want to be remembered of. By keeping a camera on you at all times, you will be able to capture literally everything that you would ever want. Because extra photos are not going to cost you anything, do not be afraid to take as many photos as your heart desires. However, do not get lost in the photo taking process. Always try to enjoy yourself and take photos after you do so.

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