(Use the excellent calculators at the end of this page.)
Start planning and
In a recent Gallup poll, 60% of those surveyed said they worried about their financial
There are a few simple steps you can take to help reduce your worries.
Put aside some amount
regularly in savings or other investments. The compounding of earnings can be
substantial. The longer your investment period, the greater the beneficial effect of
Invest in what you
know. The better informed you are, the better your investment decisions will be.
If you don't want to learn about investments, consider hiring a money manager and paying
him or her to do your investing for you.
investments. Have some of your money in an investment that is easily converted to
cash in case of emergencies. The old adage "don't put all your eggs in one
basket" is good advice when it comes to your investments.
Prepare an annual
balance sheet, a list of all your assets minus all your debts. A comparison of
your annual balance sheets will reveal your success at growing your retirement funds.
Plan where you want
to be financially by retirement age. The calculators listed below will help you
determine your savings requirements. Once you know how much you need to save, put your
plan into action. Over 90% of Americans must rely on the government or others for
assistance during retirement. With proper planning and diligence, you may be among those
who can retire in comfort.
Don't use credit to
purchase consumption items. Wait until you can pay cash for things which decrease
in value. Borrowing money to purchase a home is usually a sound idea. Using credit to
purchase household furnishings is not.
investments to maximize your after-tax return. Use the calculator below to
compare the long-term results of different interest rates. The differences can be
|Have your insurance agent do at least an annual
review of your insurance needs to determine that you are neither under- nor
The Magic of Compounding!
If you could have one of the following as your pay for thirty days' work, which would you
choose? (A) $10,000 or (B) a penny the first day, two cents the second day, four cents the
third day, eight cents the fourth day, and so on, with each day doubling on out to 30
The $10,000 sounds very attractive, but the fact is that the penny doubled each day for
30 days adds up to over five million dollars. Of course, that is 100% interest compounded
daily, a rate not available to most working folk. Nevertheless, you see the power of
compounding your earnings.
Here are some easy-to-use calculators.
Do you know how much you need to set aside to fund a college education for your child?
How much must you save each month for your retirement?
What will your Individual Retirement Account (IRA) be worth when you get ready to start
drawing on it?
You can get rough answers to these and other questions very quickly by using the
following calculators and a few estimates on your part. If we can be of help or answer
questions for you, please call us.
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