When it comes to the worth of the retirement fund, it all depends upon the tax. You will be left with the fund after the tax for spending. Thus, the amount of money which would go as tax is very essential. According to statistics, most of the people underestimate the power of the taxes. Retirement does not give the leverage of not paying taxes.
Most of the retirees think that the mortgage, leisure and health care are the top most expenses in the retirement fund. However, what they do not realize is that the taxes stand at the top in the expenses. 23% of the retirees do not even consider the taxes in the calculation.Read more
Though the economy is a big downturn, people have not stopped borrowing money. This means that most of us are in a debt that we cannot repay. On an average, each Australian household is in a debt of a little more than six thousand dollars as of April, 2014. As per statistics, 277 individuals are declaring insolvency, every day. That means, one person is becoming bankrupted, every five minutes and 12 seconds. Here are a few tips to make sure that you are not in that list.Read more
Just like the other businesses, you can also avail tax deductions for your work from home job. Basically, you can avail all the deductions that an SME can avail. The tax deductions can be classified into two major categories.Read more
As more and more, older people start worrying about their retirement plans, the year 2013 had something very surprising to show. It has been found that the traditional retirement plans still continue to be very much in demand.
After the crisis of 2008, the performance of traditional retirement plans has been phenomenal and that’s the reason that they are still not done away with. However, while this is good news, the big corporate houses may take a cue from them and stop offering them altogether.Read more
Money saved is money earned. This is an age old proverb which still continues to be as relevant as it was some thousands of years ago. However, saving is something which has to be inculcated as a habit and does not come easy. It is something that has to be started, when one is young. Once a person starts to make it as a habit, then it would be difficult to come out of it. On the other hand, once you decide not to make saving a habit, falling in line at a different point in time would be extremely difficult, to say the least.Read more
All the banks around you are announcing a lot of offers and customer retention programs to keep you in their business. This shows how profitable the banks find your account. This is mainly due to the bank fees incurred by the customers, every year.
Most of the people with or without knowledge are spending a lot of money as bank fee. The Bank introduces fees for a lot of different reasons from maintenance to the transaction process. Though the fee looks small in the beginning, they add up to a big figure. Small or big, it is once again your money that you can save. Here are a few fees that can be avoided.Read more
The first fear of retiring is the financial insecurity. Your incomes would drastically decrease and your spending might be higher than usual. According to a survey, about 50% of the people have not planned enough money for their retirement and about 20% of them have not started their retirement planning. Here are a few tips to help you plan your retirement perfectly.Read more