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You are here: Home / Archives for General

General

Must have calls for online bingo

Must have calls for online bingo

There’s a lot of showmanship involved in running your own virtual bingo game—it can be a lot more rigorous than you might expect! But that’s not to say it isn’t fun, and when it comes to bingo, one of the best things you can do to add variety to the game is to use the… #Read More

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Is It True A Flower Could Change Your Health

Is It True A Flower Could Change Your Health

There are religions, cultures, and traditions that all base their health and medicinal practices on natural ingredients, plants and flowers, and any herbs they can forage and have done so successfully for centuries. Why then do the generation of today turn their noses up at such thoughts, thinking that a humble plant could solve their… #Read More

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The Ultimate Guide to a Heat Pump Thermostat

The Ultimate Guide to a Heat Pump Thermostat

The thermostat is an important device to have in your home. It helps regulate the temperature so that you can be comfortable when it’s cold outside or warm inside. There are many thermostats available on the market, and they vary from basic models for a single room to advanced thermostats with multi-zone control for entire… #Read More

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VR Camera Creates Immersive Experience

VR Camera Creates Immersive Experience

Have you ever thought about what it might be like to relive the best moments of your life, and be able to share them with others? Maybe it’s the dance floor at your wedding. Or the birth of your child or his or her first birthday. Maybe it’s that touchdown that led your team to… #Read More

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Three Ways Millennials Can Start Saving More Money

Three Ways Millennials Can Start Saving More Money

For too long, Millennials have gotten a bad rap about money and their ability to save for a rainy day or retirement. However, a new “Relationship With Money” survey by financial services firm Edward Jones found that not only do more Americans born between 1981 and 1996 consider themselves “savers” than those in their parents’… #Read More

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Here Are The Two Key Reasons America Has Improved Its Retirement Score

Credit increased savings is something that doesn’t get talked about enough for American investors who want to be better prepared financially for retirement. In fact, according to Fidelity Investments’ latest biennial Retirement Savings Assessment, the typical American household is on track to have 83 percent of the income they’ll need over the course of their expected retirement years – with about half in even better shape than that. To put this into perspective, fifteen years ago, when the assessment was first conducted, the projected figure was a bleaker 62 percent. “It’s a testament to the hard work many families have made in taking control of their finances,” says Melissa Ridolfi, vice president of retirement and college leadership at Fidelity. The study is based on a comprehensive national survey of 3,234 people identified as saving for retirement, age 25 to 74 in households earning at least $20,000 annually, and looked at assets such as retirement accounts, home equity, inheritances, and current or expected pensions and Social Security benefits. The one disheartening finding: Twenty-eight percent of respondents might just as well be walking around with bright red warning signs if they don’t take significant steps to make up their current shortfall. Fidelity actually used color-coded indicators to give a fuller picture of households’ ability to cover their estimated expenses in a down market during those later years: • Dark Green (“On Target”). Thirty-seven percent were on track to handle more than 95 percent of their expected expenses (up 5 percentage points from 2018). • Green (“Good”). Seventeen percent were on track for 81 to 95 percent – the essentials, but not discretionary items such as travel and entertainment (down 1 percentage point from 2018). • Yellow (“Fair”). Eighteen percent came in at 65 to 80 percent, hence face “modest adjustments” to their lifestyles (down 3 percentage points from 2018). • Red (“Needs Attention”). Twenty-eight percent were completely off-track at less than 65 percent of expenses (down 1 percentage point from 2018). The two factors driving the shift into the green? First, the median savings rate has steadily increased over the years – it’s now at 10 percent, as opposed to 8.8 percent two years ago – with Baby Boomers socking away the most (11.7 percent of their salaries). Even Millennials, a generation noted for its crushing student loan debt, managed a rate of 9.7 percent. And second – and here’s what’s often overlooked – improved asset allocation. “Sixty percent of respondents are allocating their assets in a manner Fidelity considers age-appropriate,” Ridolfi says, “compared to 48 percent in 2006.” One reason is that many workplace retirement plans began defaulting employees into target date funds and managed accounts over the past decade. For those curious about their own retirement readiness, Fidelity’s free Retirement Score tool allows anyone to get their score and shows the percentage they’re anticipated to have saved versus their projected needed income. Better yet, you can also test out potential tweaks that would allow for a cushier retirement lifestyle. And if cushy is what you crave, never forget three of the greatest “accelerants” for improving your preparedness. Specifically, by upping your savings rate to the recommended minimum 15 percent (including any employer 401(k) contributions), ensuring an age-appropriate asset mix, and deferring Social Security benefits until at least age 66 or 67, you could dramatically boost your total score to more than 100. “Any one accelerator is clearly helpful,” says Ridolfi, “but all three combined could help bring you from a ‘good’ to a ‘great.’”

Credit increased savings is something that doesn’t get talked about enough for American investors who want to be better prepared financially for retirement. In fact, according to Fidelity Investments’ latest biennial Retirement Savings Assessment, the typical American household is on track to have 83 percent of the income they’ll need over the course of their… #Read More

Zeshan S. Ghumman General 0 Leave a Comment

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