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While many Americans are primarily concerned with their current financial situation, it is important to think about the future no matter what your household budget looks like. In 2004, the U.S. Department of Labor outlined 5 easy steps to preparing yourself for comfortable retirement living. Know your retirement needs. Retirement can be expensive, so you will need to know and understand what it will take to successfully save for the future. Experts say you will need at least 70% of your pre-retirement income in order to keep up your current standard of living once you are no longer working. Find out about your Social Security benefits. The average retiree currently receives roughly 40% of their pre-retirement income through Social Security. Visit www.socialsecurity.gov to learn more about the benefits of Social Security. Contribute to a tax-sheltered savings plan. If your employer offers a program such as a 401 (k) it is wise to sign up and contribute as much money as possible. Contrib

With the long-depended-upon pension fading into history, many consumers are apprehensive regarding retirement savings. Most simply don't know what to do to get where they need to be. With so many options and advice, what is the right path to take? Studies show that Americans are more insecure about their retirement options than ever before. With less than 20% of workers facing a possible pension, that option isn't something you should depend upon. It is more important than ever to take every opportunity you have to build up your retirement savings. This includes your IRAs, 401(k)s and taxable investments. It doesn't take a complete knowledge of investing to be able to retire well. All it takes is a few simple ideas. Remember, the younger you start, the easier it is to retire well. If you are getting a late start, it is still possible to enjoy a comfortable retirement. Just don't let anymore time slip away, you will need every cent possible. It's just like credit car

There are more and more people reaching retirement without any savings. There are even more people up to their eyebrows in credit card debt. Foreclosures are on the rise and it seems as if everyone is driving a new car. What can be done? Can you really reach retirement and not depend on social security? Can you eliminate your credit card debt? Can you have the money to buy what you want when you want it? Yes. All you have to do is not make bad financial decisions. We all make wrong decisions, but we all don't have to make bad decisions. Bad decisions include excessive debt, various loan types, over-spending and not saving your money. The worst decision of all is becoming overpowered by debt. You can't save your money if you are sending it to a creditor. When you have no debt, your savings have a chance to really flourish. What is your financial goal? Overall, it is probably to become rich. If you are sending the banks your interest money, you aren't going to make that happe

Many people are periodically faced with the financial question, “Should I take this extra money and pay down my debts?” A financial planner will likely reply, “Yes, because it will improve your net worth and financial stability. Debt is a fire that destroys your income and financial future”. A financial analyst will likely reply, “It depends because you have to compare the rate you would earn by investing to the rate you are paying on your debt. All of these calculations are based on after-tax amounts”. Although those are fine answers, my best advice is “Almost never”. First the ‘almost’ part – similar to the financial analyst, if the rate on your debt is a lot higher than the rate on your potential investments, then I think that you should use the extra money to pay down on that expensive debt. But for the ‘never’ part – if you have reasonably low-cost interest rates on your debt, I recommend that you do not pay them down, directly. Here is how a banker explains personal finances, “A

Personal loans with bad credit are easier to come by than most people would think. These days many people fall victim to their own overspending, and this becomes apparent on their credit report. Thus, lenders have made a business out of personal loans with bad credit so that these people have another means of borrowing. The Internet is the best source for a personal loan with bad credit, but it can also be the biggest trap. Borrowers need to learn all that they can about personal loans with bad credit so they can avoid scams. You can apply for personal loans with bad credit both online and directly with a lender. Most people appreciate the convenience of applying online. This can be great if you use caution. Don't apply with just any online lender for a personal loan with bad credit. Take the time to make sure the lender is federally insured and nationally known. Look for contact information about the lender such as an address, phone number and an "About Us" link. If the