5 Ways To Make Sure That You Retire In Style!

You might remember the TV series the Golden Girls. Four previously married, older ladies, living together and enjoying themselves in their retirement. They show us all that our golden years really can be golden! Our time to kick back and relax, enjoy some cocktails and take life at a slower pace. However, if we are to enjoy those golden years then we need to make sure that we are prepared financially and mentally.  Here is what we need to be thinking about NOW before we make the most of those golden years. This isn’t us being morbid, it’s just us getting ourselves into the right place financially and mentally.. We work hard for the majority of our life, so we want to make sure that we can enjoy our retirement in style! It really is never too early to be thinking about our retirement, it could be argued that we should even be thinking about our retirement in our twenties, yes, really! What should we be doing now so that we can have a retirement of riches?


Make A Bucket List

We need to focus now so that we have no regrets later in life! We should make a bucket list for all of the places we want to see before it’s too late. On your list you could have something something relatively simple like watching the sunset, through to climbing Mount Everest. If it’s your dream to do it then it needs to be on there. You need to start ticking everything off that bucket list NOW!


Start Saving

You want to be living your retirement out in style so you really need to start saving now. Make a spreadsheet and work out how much you can afford to save on a yearly basis.


Work Out NOW

Exercise on a daily basis. If you take care of yourself now, then you will be in a better place physically when you hit retirement. You really want to be in peak condition when you hit your retirement. Some scientists also believes that if you exercise regularly it will help your brain regenerate and keep you mentally sharp.  We want to be in peak condition if our dream is to travel the world during our retirement. You could even get planning for that round the world trip now. You can get fantastic round the world cruises which would allow you to see the world in style. Get saving and exercising now.


Write Your Will

You might feel young, fit and healthy and death might be the last thing on your mind, but you really need to start thinking about your will. If you have any assets then you need to make sure that you name your beneficiaries. You need a last will and testament. This will document what happens to your property, pets and children after you die. It will also state how you want your other assets to be divided. You should consult your lawyer who will be able to go to through this process with you. You could also use an online site like LegalZoom. Whatever you decide you will need to make sure that your will is legally binding and that means that you need to make sure that you have witnesses to sign the document. You also need to think about a living will. A living will states how you want healthcare-related issues dealing with when you’re still alive. You can find lots of websites with useful information on how to create a living will, and many of them will have a template that will help you create a living will. Topics that you might want to cover on your living will are pain relief, resuscitation and organ donation etc.


Stay Happy

Research has shown that staying happy really is good for our health. Apparently happiness can help protect our heart. Happiness can help keep our heart rate and blood pressure lower. Happiness can also be good for our immune system and it can help combat stress. Finally, studies have shown that happiness really can help lengthen our life. A famous study into the life expectancy of Catholic nuns found that the nuns who were happier and more content were more likely to live an extra 7 to 10 years longer than the least happy nuns. Perhaps that saying “an apple a day keeps the doctor away” should be replaced with “a smile a day keeps the doctor away”.

Start planning now and you could be living the retirement of your dreams!

Top Tips For Novice Investors

Investing can be a great way to boost your income, especially if you’re looking to clear debts or save for your retirement. Thanks to the internet, it’s becoming easier and easier for people to get into investment, even those with no real financial knowledge. If you’re thinking about investing, but have no clue on where to begin, these top tips could help you discover the benefits of investing and help give you the best start possible.

Have a go at fake investing

Investing can be a gamble, especially if you’ve never done it before. Launching yourself straight into high-risk, costly investments without knowing what you’re doing could spell disaster. One way you can learn whether or not you’d be a good investor is to try out some virtual trading apps that serve as training wheels for the stock market – giving you fake cash to play with and real market results to see how you would fare.  It’s a good way to inspire confidence, or it could help you scratch that itch of wanting to invest and help you realize that it’s not for you after all.

Try spare change investing

Spare change investment is quickly becoming the investment tool of choice for millennials. There are pros and cons of spare change investment, but if used correctly it could help you make some investments without having to spend a lot of money. They work by rounding up the purchases made on your credit or debit card, that would otherwise be ‘spare change’ if you’d paid in cash, using the money accumulated to invest into different stock and shares. While unlikely to offer significant gains, the percentage returned could actually be worthwhile for the sake of investing a few extra pennies from your everyday spending. Make sure you set up some limits if you pay by card often to stop you investing more than you’re comfortable with.

Invest in what you know

Investing in something that you know and understand is more likely to pay off than if you were to invest in something that is completely unfamiliar to you. Some people like to invest in companies that are well-known, and they are familiar with like Apple or Facebook, while others might choose a company that is related to the field they work in or have studied. If you work in healthcare or insurance, for example, investing in a company like Health Insurance Innovations would be a good fit for you. Having a clear understanding of a certain industry could help you make better decisions about when to buy and sell and stop you falling into the trap of buying into the best-looking offer.
Investing for the first time is a challenge, but there are some great resources out there to help you learn the ropes. Taking a look at the best areas to invest in can help you see the range of investments out there and find the best option for you. Keep reading up on top investment tips to help you become a more confident and successful investor.

Personal Finance Mistakes You’ll Live To Regret

You might think you only need to watch your finances carefully if you’re struggling to make ends meet, or if you have a business. Well, my misinformed friend, you’d be wrong. The fact is, no matter how much money you earn and how you’re making it, you need to take care of your personal finance.

If you fail to keep a close eye on this, then you might very well end up struggling, or much worse, in the future. It’s fun and games until you can’t afford medical care and you have bailiffs knocking at your door. To help you out, here are the personal finance mistakes you’ll live to regret:


1. Not Having A Plan For Your Money

It doesn’t matter how much money you make, you need to have a plan for your money. It’s all well and good spending as much as you want on what you want, but eventually, this will catch up with you. Make sure you keep enough in your account for your bills. Set some aside for a rainy day. Decide how much you can put into investments – this is the only real way to build wealth! Then you can set yourself a satisfactory number to play with and buy what you like. This is the only sensible way to use your money!

Having goals for your money is a good idea too. Do you want to be able to buy your own house in 5 years? Perhaps you want to have invested in a number of properties? Think about it carefully and set them for yourself.


2. Getting Into Too Much Debt

Some debt is necessary. After all, you want a great credit score. This means getting into debt you can handle and paying it off on time, with things like credit cards. However, getting into too much debt is a no go. If you find yourself doing this, you’ll need to be honest with yourself as to why you’re spending more than you can afford. If you fail to do this, eventually, you’ll be meeting with bankruptcy attorneys to help you get out of the mess you’re in. If you’d like to stay stress free, it’s a good idea to only get into debt you can afford.  


3.Being A Non-Stop Consumer

We’re programmed to believe that the next thing we buy will make us happy. That’s why we’re never done buying ‘stuff’! We’ve all felt excited by a new purchase and then noticed when the novelty has worn off and it’s just another thing we own. Aim to be more minimal with your spending.


4. Failing To Think About Purchases

If you’re thinking of making a big purchase, think about it properly first. Don’t consider it for a day and then go right out and buy it. Think about it for a few weeks, at least. If you find that you stop thinking about the product in this time, you probably didn’t really want or need it.


5. Not Discussing Goals With A Partner

If you have a partner, and even a family, having regular meetings to stay on top of goals and make sure you’re on the right page is a must!

Don’t live to regret these personal finance mistakes!