The first thing you need to determine is how much you are earning at the moment and how much to put aside for your retirement fund. The calculation of your monthly contribution towards your retirement savings goal could be done in many ways by many methods. The most simple of these calculation methods take your current earning, age and any savings you have already made to calculate the percentage to be put in to your retirement fund from your monthly income. Calculators of this sort are easily found online and can be used effectively to plot the first step towards your retirement savings goal.

Once you are aware of how much you are able to save each month you can go through the many retirement accounts or investment opportunities available. Experts have estimated that you will be able to live a comfortable life after retirement with 75% – 80% of your current income. If you own a home and expect to finish the mortgage payments before you reach retirement age, your expenses are likely to be even lower. But it is also necessary to keep in mind about how inflation rates and the fluctuation of annual expenses can affect the achievement of your retirement savings goal.

Exercising control over impulsive spending could help you to keep yourself focused on your retirement savings goal and not abandon it halfway through to make room for large unnecessary expenses you are bound to regret later. Arranging payments for your investments to be made automatically from your paycheck could make sure that you always stay on your course towards your retirement savings goal.

Having a somewhat clear picture of your life after retirement such as where you are going to live and whether you are going to be doing a part time job as well as the age you wish to retire could help you when determining your monthly contributions and maintaining their consistency. Keeping regularly updated on your health to find out about any progressive illnesses that could create heavy expenses in the future is also helpful. Whether you are planning to travel the world, live a quiet life or settle down somewhere you have always dreamed of, anything can be achieved by setting a retirement savings goal and sticking to it without sacrificing the enjoyment of your young life.

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Retirement is a time for relaxing, pampering, having fun, and in short spending the eve of your life in total contentment. This can be done only by careful planning through one’s active years of life, unless you have inherited a comfortable fortune or unless you are comfortably rich.

If you are to carefully plan your retirement the first point to consider is “How much retirement savings should I have?” In order to calculate “how much retirement savings should I have?” it is important to think of what sort of retirement life you would like to have.

As each person’s likes and dislikes are different, retirement planning varies from person to person. Some of you might like to travel the world quite often while some of you might like to add an overseas trip occasionally. Another one of you might prefer to just relax at an elder’s home with first class treatment or you may chose to live in your own home, with maids at your beck and call.

Some of you might like to spend your retirement with your children and grandchildren pampering them on special occassions, but not being a burden on them.

You should also be careful to set a side some retirement savings for illnesses as well as unplanned issues as this type of problems increase with age. This maybe best sorted with an insurance policy which will cover your health benefits and guarantee the best treatment at times of discomfort. “How much retirement savings should I have?”, will be the question that pops up again. For some people it is quite a daunting task to decide how much savings need to be set aside for unplanned and unforeseen issues? Your insurance agent will help you to decide on what policies are best for you.

If you are a single person you have to plan only for yourself. But if you have some one dependent on you like your spouse or a sick child the questions “how much retirement savings should I have?” should be thought about again. When you are planning you have to consider what stake should be set aside for your dependent.

When deciding and calculating how much retirement savings should I have? it is important to consider the number of years you can save for on a monthly or weekly basis. It is also important to find few ways to invest your retirement savings in order to gain the best return possible which will make your retirement years rosier.

If how much retirement savings should I have is not thought about carefully you might be in for total disappointment during your retirement years. After deciding on how much retirement savings should I have?, the thought should be put in to action so that your retirement years will be the most pleasurable years in your life.

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A retirement planning tool is a financial planning method which will use your current monthly income, age and other factors to calculate retirement savings and determine what you need to do to accomplish your retirement goals. The determinant factors to calculate retirement savings are usually age, current monthly income, expected age of retirement and gross retirement income which are based on your profession and your expectations. But it must be noted that certain external factors such as a recession, inflation rates and interest rates could also affect when you set out to calculate retirement savings to ensure your future.

Starting to calculate retirement savings and expected post-retirement income should begin by adding up the guaranteed income sources such as social security, pension payments and annuities. Once you know the amount you are sure to receive, it is then time to proceed to calculate your monthly input in to the equation. A retirement calculator will tell you exactly how much you need to save each month to build up your retirement fund as well as the expected annual return from your savings. You need to make sure that the expected returns will cover all of your expenses such as bills and all of your envisioned activities such as travelling.

Using several retirement calculators would be a good idea as each calculator takes different factors in to account to calculate retirement savings for you. Some retirement calculators take factors such as life expectancy based on family history, whether you are diagnosed with a progressive illness which will lead to large medical expenses and your ideas on post-retirement employments in to consideration as they set out to calculate retirement savings.

Having a dream or a clear vision on your ideal post-retirement life will be an added aid for you to calculate retirement savings as your ideas on where you are going to live, what sort of activities you expect to take on and even your ideal age of retirement will directly affect to the monthly contribution you are expected to make. Being careful and exercising restraint on impulsive spending and avoiding unnecessary expenses will keep you on the right track to achieve your retirement goals as well as other financial goals and expectations.

Setting out to plan and calculate retirement savings wisely and early in your life will lead to an enjoyable and comfortable post-retirement lifestyle while allowing more than enough room to make adjustments whenever the need arises.

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2. I will not buy an old HDB flat and be stuck there for more than 5 years. Too many horror stories about weird neighbours, loanshark problems, and other stuff.

3. If after getting your place, your fengshui master tells you that the house is not suitable for you, then you are stuck for the minimum 5 years.

4. If you want your kid to get into a good school, it means you can’t move house to be near the 1km. If your kid can’t get into the school beside your place, it means being stuck there for another few years before you can move, and that means additional money on transport, and getting people to take your child to school.

5. If you have to take on a job at the opposite end of Singapore, it means you can’t sell your place and move there to save on travelling. You try telling those people who are out of work. They would rather go without a job than take public transport to wash toilets and see their meager salary be spent on transport and more expensive food in town.

6. Buying an HDB flat either resale or new come with so many restrictions. That includes not being able to buy property overseas. That means you will never be able to ride a property boom.

7. To upgrade to private property means forking out 30% cash and CPF, which means it’s probably at least $300k. Who has so much cash flow if you had already depleted your CPF account trying to pay for your flat?

8. If you want to avoid getting only a 70% loan, it means you will have to sell your house, buy your private property, and then rent and wait a few years before TOP. That means that buying a place at preview prices is out. That also means you can’t take your pick and choose your favourite unit.

9. If you are applying for a new HDB flat, you would have to wait a longer time before you can consider selling your place. It will also mean you don’t have your own place to live in after getting married. If you happen to break off the marriage agreement, tough luck, happy waiting again.

10. It all goes back to the point, why should we be penalized for wanting to buy a new place?

11. If you sell your private property and want to wait to be eligible for hdb concession loans, it is a good long wait. Where are you going to live?

12. That also means if you were retrenched, you can’t afford your private housing, you will face a lot of problem getting help.

13. If after having children, and you really need to get your parents-in-law or parents to live with you, or you move over to live with them, and your 5 year occupation is not up, then you cannot rent it out. That means paying additional money to your parents, and paying for your housing loan, without having any rental income to offset the cost of bringing up children.

14. If you made less than $3000, and qualified for a 3-room flat, and then later on have so many children or your relatives need to live with you, you are stuck with a small place and cannot upgrade to a bigger place.

15. If you are thinking about divorce, then you would be stuck if you don’t want to lose a roof over your head.

16. They tell us to live within our means, but if we want to make sure that we have enough space, that means forking out more money, which would be extremely taxing on our pockets.

17. If you get an overseas posting, you would need to pay rent over there. However, you can’t rent out your place, which means the place is empty, which becomes a liability.

18. Now that people can’t buy another HDB flat or can’t afford another private apartment to spend their extra money, they will start doing stupid investments that they are unfamiliar with, and then get burnt. So I foresee hearing more stories of people being duped by unscrupulous people.

19. If after buying a private property, you realize that there are so many problems with the place, such as extremely poor workmanship and other defects, you would be penalized for selling it too quickly.

20. Those with enough money to buy a HDB flat for investment may turn to mass market private property for investment, which will still put those who can’t qualify for public housing in a position where they can’t afford a single thing as they would push up the prices.

21. I still have lots more grouses but SM Goh says don’t complain so much.

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Each and every year, many of us go on vacations. Vacations are a great way to relax, and get away from the everyday pressure of life. Over half of all American families take their vacation between April and September, meaning that they spend a lot of money on travel. Whether it’s international or domestic travel, you can spend a fortune before you actually realize it.

As we all know, traveling with cash or checks isn’t always a wise decision. Renting cars, flying in airplanes, or checking into hotels is a much easier task if you have a credit card. Even though you may decide to use your credit cards for big purchases only, you’ll find that the traveling experience will be a much smoother process.

Unlike cash or checks, credit cards make handling your documents and receipts much easier. If you purchase something, records from that purchase will be made with your credit card manufacturer, which you can always fall back on if something happens. Things can go wrong without notice, so you’ll always want a backup plan or something to have as proof in the event of a disaster. With a credit card, all you need to do is look back at your statement and you’ll find everything that you purchased in one easy to find location.

Credit cards are also much easier to handle and keep track of than cash. If you decide to go to a theme park or a resort, you’ll find that cash can be a bit bulky to handle. Carrying a large amount of cash can be hard to keep track of, even though it isn’t recommended. Credit cards use up less space, and you can keep them in your pocket. When you need to pay for something, you don’t need to count through your cash, simply hand over your credit card and sign your receipt.

if you don’t have any credit cards, you can always get them for vacation purposes only. There are many benefits to having credit cards, besides the fact of them being easier to keep track of. There are many different credit cards out there to choose from, including those that will give you cash back or rewards when you make a purchase. Cash back is normally a small percentage of what you spend, and is given to you at the end of the month.

Some of the Credit cards will give you reward points for every dollar you spend, which can be redeemed with several merchants offering a variety of products. Although cash back is always a great thing, many people find reward cards to be just as good. You can enjoy your vacation, buy just about anything you want, and know that the money you spend will help you to buy other things that you may need when your vacation is over. Actually, can you think of this as having your cake and eating it to.

All in all,Credit cards can make your vacation easier than ever before. You can earn rewards and cash back with purchases you make using your card. Although you may think cash is the preferred way to go, there are several merchants who actually prefer credit cards. They are more professional, and easier for you to handle than cash or checks.

They are easy to obtain as well, providing you have good credit. If you don’t have a credit card, you should look into getting one before you take your next vacation. All you need to do is look for your favorite company online and apply through their website – you’ll normally receive a response in a matter of minutes.

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If you need to entertain your guests or travel frequently, the amount you spend may differ from one month to another. Without spending limits, charge cards will be suitable for those who need to spend large amounts on entertaining their clients. They offer short term loans without penalties if you pay off in full every month. American Express and Diners Cards are such travel and entertainment cards. American Express has other payments options available for you to make your payments over a longer period of time. Due to the different schemes available, some people may use the terms interchangeably, but these two are basically different.

The second type of major cards is the credit card we are familiar with. Visa and Master Card work with banks to issue credit cards to the consumer. The banks will determine the spending limit on your cards based on your income level. Different cards have different terms and conditions. If you only pay the minimum amount for your credit card payment, be prepared to fork out hefty sums that stemmed from your interest payments and new purchases. Due to the nature of unsecured loans, interest rates are considerably higher and over time, they may add up to a lot.

Business Credit Cards are the next type of cards. These cards are meant for those with small businesses, although some banks give them to their customers holding personal credit cards. These cards tend to have lower interest rates and higher spending limits. Cash flow issues can be easily resolved for small business with business credit cards as you can pay the bills over an extended period.

Last but not least, various major companies offer retail store cards. Some are linked to shopping malls or other retail stores or we have fleet cards, for various fuel purchases as well. Due to the numerous retail store cards, the terms and conditions are not alike. Only certain countries accept such cards.

Since various types of credit cards offer different conditions and payment options, you need to decide what cards such as charge cards, credit cards, business credit cards and retail store cards suit you best.

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The last time I went to the tour, I booked a great trip to the various onsens or hot springs in Japan. This time round, I’m looking for great deals for my honeymoon at the end of the year. My friend went to Greece, and some suggested New Zealand. Any suggestions?

Before you decide on the tour package, check for the hidden charges such as fuel surcharges, taxes, and add-on day tours. I went with my friend on a very cheap tour to Chiang Mai before, and we had to pay 500 baht per person to go to each location, such as going to the borders between three countries, and a visit to the Karen hill tribes. So the best deal may not be that great.

In addition, my trip to Korea was filled with lots of visits to shops and stores where the tour guide could earn commission. The photographer with us tried to take photos of us, which he would charge $8 per photo. One family had to pay more than $300 for the photos because they did not know about this.

At the same time, some tours may fail to materialise because not enough customers book them. If you happen to be on such a tour, you may have to change your plans. Check whether there would be any refunds if this happens.

You may also decide whether you want to see a lot of different places, or you want to enjoy each place at your own pace. Do check with the agencies what languages the tour guides would be speaking in. On my last trip to Japan, the local tour guide could barely speak English and Mandarin. It so happened that most of the tourists on my coach came from English-speaking backgrounds, so when the man tried to lapse into Cantonese, he lost almost all of us.

Enjoy your trip! 

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I went to Harvey Norman last week and I saw that they had a promotion at their photo centre. 4R photos only cost 19 cents and I probably have more than 100 photos to develop, that will only cost me $19. The first time I used an online printing digital service, it cost me about $46 for less than 100 photos.

Think the promotion is going to end soon just before National Day. So dig out your travel photos, and your fun photos. You don’t want to tell your kid you lost all his childhood photos when the computer died.

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Apart from these, getting travel insurance is quite useful. Depending on how often you travel and the activities you take part in, you can decide on a per trip plan or an annual plan.

Some credit card companies offer accidental insurance depending on how much you spend. I doubt that these plans are the most affordable around, so if you consider getting that, do take a look at the fine print first.

Car insurance is also something that many people have. Depending on the type of insurance, and how many years of accident free record, the payments differ. However, the cheapest may not be the best because of the difficulty in getting the type of repair you want. If you own a van, there are different types of insurance. One is the normal van insurance, while the other is known as Courier Insurance. That is for people who transport goods around. However, the goods on the van are not insured, though there is a separate option available.

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However, with the car loan, I was given the freedom to travel to wherever I want in the comfort of my own personal space. So far, monthly deductions will be made from my account. As the monthly deductions are fixed, this cost is easier to anticipate. 

Some people prefer to get bigger cars, and their loans correspondingly become larger. If they have arrears in their payments, then the cars may be towed away by the repossession companies tasked to do so by the banks. I’m so tempted to buy a sports car, but I know my finances will be badly dented. This may lead to bankruptcy, so one has to live within his or her means.

If such a threat looms, then you may want to think about getting an IVA online if you are living in UK. This will help you resolve any issues you may have about paying off the debts. This would certainly reduce the worries one may have regarding bankruptcy. As you know, there are many limitations for bankrupts. They can’t travel easily, can’t buy cars and many others. To prevent the problems, look for solutions to avoid bankruptcy right away.

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