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CD vs Fixed Annuity For Safe Retirements

admin — Mon, 11 Jan 2010 13:22:40 +0000

Bank CD or Fixed Annuity for Safe Money Retirement Savings?

With all of the stock market fluctuations, it may be prudent to put part of our retirement savings in a safer investment or savings product. Storing cash under our mattress may not be very prudent, so the two investment vehicles that we learn about are bank certificates of deposit (CDs) and fixed annuities. So we need to compare – Bank CD vs Fixed Annuities.

Most people understand bank CDs, but annuities are more complex. You may also want to read more about Retirement Annuities – Safe Money Solutions. You can also review this page to explain annuities.

Advantages and disadvantages of bank CDs

Bank CDs are federally insured up to FDIC limits, so we are assured that our savings are backed by the US goverment. Interest rates are posted, and in most cases they are valid for the life of the contract. There are some exceptions to this, but they will be clearly documented before you purchase.

So the advantage of a bank CD is that you will earn a guaranteed reeturn on your money that is probably backed by the strength of the US federal governmet’s savings insurance program (FDIC). The actual contract terms are of varying lengths. In general, the longer the term and the more money you have to save, the better interest rate you will get. However, banks are very competitive with rates, so it pays to shop around for the best rates.

Another advantage is that you can choose from a variety of term lengths. So you can stagger CDs so you will have access to chunks of your money periodically. For example, you may choose to buy multiple products, one with a length of 6 months, one with 18 months, and one with 3 years. That way, you can make a decision about the use of some of your money every six months without paying a penalty.

The disadvantage of bank CDs are as follows. You will lock your money up for the contract term, or you must pay a penalty. Right now, CD interest rates are pretty low, so with inflation, your money may actually lose purchasing power even though it grows by a percentage point or two.

Advantages and Disadvantages of Fixed Annuities

Fixed retirement annuities are also considered safe even if they are not backed by the FDIC. They are backed by the power of the strictly regulated insurance industry. During the recent financial crisis, we may have heard about stock holders losing money in insurance companies. But it is important to note that we did not hear of policy or contract holders losing money.

You also specify a term length for your contract, but these terms are probably much longer. Think about years instead of months. So you must be willing to lock up your money for years or risk paying a surrender charge. In general, fixed annuities are for long term planning. There are some exceptions to the penalties, like serious illness, so you have to look at the specific contract for more information about this.

The return rates may be higher than bank CDs, so that is the trade off for locking up your money longer. Another type of fixed annuity is actually tied to a market index like the S&P 500. That means that during good years it will return rates that are tied to the stock market, so your money should do better than bank savings. During down years, there should be a guarantee of earning at least 2 – 3 percent, so you will still probably be doing as well as you would with a bank CD.

Are Cds or Annuities Better?

The choice, of course, must be made by considering your own individual situation. If you are very worried about risk, and if you want to access your funds every few months, you may choose a CD. If you are sure you can wait to touch your capital, and you want better returns with a guarantee, consider an annuity.

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Fixed Annuities for Retirement Income

admin — Wed, 23 Sep 2009 18:34:05 +0000

What are Fixed Annuities?

Many people have asked me to explain fixed annuities. They want to understand how these products, with features of both investments and insurance, will help them plan for their retirement. First all all, they are actually sold by life insurance companies, but not for the same reason that term or whole life products are sold.

Are They Insurance?

A life insurance contract is purchased to protect heirs in case of a death. An annuity product, on the other hand, is purchased to actually protect the owner’s income while they are alive (though there may be death benefits in the contract). People use these as tools to save for a longer term goal, or to provide income for the future.

Immediate Vs. Deferred

If a lump sum is used to purchase the contract, and it begins to make payouts right away, that is called immediate. If, instead, the contract is purchased over a period of years or some years in advance, that is called deferred. A retiree with a large sum of cash may purchase an immediate contract so he or she can begin getting income. People planning for retirement in the future, may either contribute a sum of cash, or make periodic payments, in order get payouts some time in the future.

Why Choose Annuities for Retirement Planning?

These products can have several advantages, which include tax deferred growth, higher returns than savings accounts, and guaranteed minimum returns. That is what makes them attractive. You would have to explore various options to find the product that will work the best for you.

What to be Careful of when Buying Annuities

Only put aside money that you can spare. Many contracts will have penalties for early cashouts, unless it is for a reason (i.e. nursing home confinement) that is already spelled out in the contract.

Find the Right Product For You!

The world of retirement planning does not have to be confusing. You can use our simple online forms to provide you with free online annuity quotes that are based upon your own assets and goals.

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Financial Literacy: The Key to Greater Wealth

ClintJhonson — Fri, 28 Aug 2009 22:14:02 +0000

When it comes to financial skills and knowledge, most people can be considered as functionally illiterate. This is the startling and worrisome discovery of policy makers, educators, and financial experts in several studies conducted to assess the capacity of consumers in managing their personal finances. That is why there is a growing interest among people to improve their financial literacy or the ability to understand financial matters. So if you want to become wealthy and financially secured, you need to grasp the essentials of personal finance management, wealth building, and entrepreneurship.

Improving ones financial literacy however can not be attained if you will not invest time and money in the effort. Although there are public programs that provide free education on business and finance, you will still have to buy expensive modules and materials for your studies. If you are already in a difficult financial situation, spending precious dollars on your advanced education is not an option. But what if you can learn a simple but proven strategy that you can use to establish your own business no matter what your income level is. What if this resource can help you to become wealthy without spending too much on advanced education? These are the gist of the revolutionary book Wealth Path.

Wealth Path is authored by the maverick and self-made financial expert Jeff Church. This is a 64-page book that outlines the two step process of becoming wealthy through financial literacy, entrepreneurship, and managing personal finance. Jeff Church calls himself a broke-a-holic. But after much studying and applying into concrete practice the essential elements of financial management and entrepreneurship, he was able to crack open the two-path secrets to building personal wealth. Church is now in full recovery stages of being a broke-a-holic and is enjoying the fruits of his new found knowledge. He was able to build over $1 million worth of real estate which he controls and now conducts his own businesses from the comforts of his house in sunny Hawaii.

The book Wealth Path is truly an important resource to improve ones financial literacy. It is a very simple book with no fluff and BS. It approaches the issues of finance management, investing, small scale entrepreneurship, and sustaining a business in a very practical manner. In fact, the two step approach that the book recommends can be easily applied by anyone who is serious in getting wealthy and enjoying the good life. Most importantly, the book eliminates the need to understand the complicated concepts, theories, and principles of business and finance. It provides you with a down to earth view of achieving financial success through the eyes of a guy who experienced financial difficulties but eventually cracked open the ultimate Wealth Path building.

So if you want to weather any financial crisis, improve your status in life, and gain financial independence, then the book Wealth Path is a must read resource for you. It is probably the simplest but the most comprehensive resource on financial literacy, entrepreneurship, and personal finance management.

Are you interested in getting wealthy to gain financial independence? Then grab a copy of Wealth Path today so you can grasp the essence of financial literacy, wealth building, and entrepreneurship.

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Understanding U.S. Bank CD Rates

RichardCooper — Tue, 25 Aug 2009 10:27:33 +0000

A certificate of deposit or CD is a financial instrument with a yield that is fixed in advance used by banks to take deposits from their customers. Before investing in the CDs, it is very important that one understands the U.S. bank CD rates in order to see how one can get the best returns on investment. Investing a particular amount of money in a bank deposit gives you a particular rate of interest that is fixed in advance for a particular period or term. There are different US bank CD rates to choose from depending on how long you can afford to have your money locked in.

The US bank CD rates essentially depend on the position of the economy in the Unites States and are indicative of its well-being. From time to time the US Federal Reserve fixes a limit on the PLR or prime lending rate for banks in the United States to lend money to people for business or personal use. The PLR keeps changing as per the status of the US economy. As a result, the U.S. bank CD rates keep changing time and again.

The banks in the United States have to follow the guidelines of the US Federal Reserve as well as the PLR cap. They make profits by collecting higher APY or annualized per year interest rates on loans as compared to the US bank CD rates that they offer their customers. This comparison is made taking into account the same time period both starting on the same day for loans as well as deposits. The U.S. bank CD rates vary for different terms and you have the 12 month CD rates and 3 month CD rates besides others.

Banks actually fix the APY ate of interest that they amass on loans on the PLR cap which is fixed by the US Federal Reserve. They are allowed a certain amount of freedom in loan rates which is dependent on the cap and hence you will find that interest rates on loans might vary slightly from one bank to another for the same period. The banks also revise the U.S. bank CD rates whenever the US Federal Reserve periodically revises the PLR rates. So you should keep checking for new and better US bank CD rates before deciding to invest in the certificates of deposit.

Some of the US bank CD rates might be slightly higher than others; the reason for this is to draw more customers. As a result, they can collect more money so that they are able to give out more loans to businesses. Subsequently their profit margins go up. The U.S. bank CD rates are higher for longer periods but this also depends on the cap that exists for tenures of five years and more.

So what are you waiting for? Check out the US bank CD rates here and now! These U.S. bank CD rates are available for different tenures so you can be sure there will be one to suit your requirement.

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Is It Favorable to Have an HSA?

AliceBrooks — Mon, 24 Aug 2009 12:26:41 +0000

The simplest definition of Health Savings Accounts is that these are consumer-driven savings designed for medical expenses. An HSA can also help reduce your income tax that is why it is becoming more attractive to a lot of employees. The HSA law was enacted in 2003 and was primarily designed to give the consumers more control over health care costs and health care options. The overall aim of the HSA is to give you cheaper options while not sacrificing the quality of health care. This is a good health plan and can be a valuable part of your retirement plan.

Basically, health savings accounts are geared towards employees and their families. These are savings funds that can be used for current medical needs and future health care. In the HSA plan, the employees as well as their employers can contribute to the fund. The contributions are considered tax free savings but there are limitations on how much you can contribute per year. The annual allowable contribution of individuals is $2,900 while the allowable contribution of families is $5,800 per year. Although there is a catch in this health plan because the health savings account must only be used together with a high deductible health plan. A HDHP typically has higher co-pays and deductibles compared to other HMO plans.

There are several favorable benefits that can be enjoyed by employees from health savings accounts. For example, the HSA works along the concept of a medical savings account. You can withdraw from the fund at any time as long as it is used for legitimate medical purposes. Aside from this, you will also be allowed to top up your contributions by $800 annually if you reach the age of 55. So this is a good provision which allows you to save money free from Federal taxes. The account can be considered as your medical savings for your future retirement because it can pay for your health care when you grow old.

All contributions to the health savings accounts are not subject to taxation. They are actually made on a pre-tax basis which is a favorable option for employees and their families. You can also withdraw from the HSA and the money will also be spared from taxation as long as it is used for medical and health care. However, you have to take note that early withdrawal from the health fund will be subject to taxation if you use the money on non-health related purposes. Aside from the taxation that can be levied by the Federal government, you will also have to pay an early-withdrawal penalty. So before using your savings in the HSA, make sure that it is for legitimate medical purposes only so you can avoid paying penalty charges and taxation.

Getting an HSA is highly favorable for employees and their families. The fund will be very useful for your current or future medical expenses. In fact, this type of health plan is a good retirement option because when you reach the age of 65, your HSA will be converted to a retirement fund which you can use for other purposes as well.

Do you want to know how you can benefit from the HAS http://www.debtkid.com/hsa ? Visit our website today to find out how you can open health savings accounts http://www.debtkid.com/hsa with several trusted financial institutions.

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What you should know about Ally Bank CD Rates

RichardCooper — Sun, 23 Aug 2009 16:53:12 +0000

If you have been taking a look at certificates of deposits, you will almost certainly be aware why a longer maturity rate on them will get you more cash. But you might have often wondered what it is that goes into the best CD rates; whether it is Ally bank CD rates or CD rates of any other bank for that matter. You will want to know this from Ally bank formerly know as GMAC bank and other banks too so that you get the maximum returns on your investment no matter what your method might be.

But then getting the best of just about anything needs a substantial amount of effort to be put in and it is not any different when it comes to Ally bank CD rates. You will have to take a look at all the possible CDs available before you go on to decide which ones in Ally bank will get you the highest rates. This information you might get by going online or visiting the banks or through word of mouth from friends and family who have already invested in them.

If you will be working on your investment single handed, you will probably want to keep two things in mind; the length of the period of maturity so you might want to look for those Ally bank CD rates that will last in the long term rather than those that will bring you less money in the short term. Besides, you have to bear in mind what the investment rates are like at the time you are purchasing. This will hold good whether you are investing in CDs at Ally bank, Chase bank, Bank of America, Citibank, Wachovia, Wells Fargo, U.S. bank or any other bank for that matter.

You might ask why it is better to invest in the longer maturity Ally bank CD rates. In the end it comes down to how much you invest in this. There is no doubt that you are taking on extra risks through this kind of CD rates of Ally bank and consent to keeping your money there for a long period of time, but then it is sure to pay off even better if you invest successfully.

Besides, there are other benefits of investing in these longer maturity Ally bank CD rates. The Ally bank as well as other banks normally give first preference to these choices and pay them the best in turn. Some banks require a minimum amount to be invested; in such cases you might want to take into consideration bulk purchase for your rates. You need not stick to just one bank but check out what’s going on at the other banks as well so you get a fair idea of what deals are offered by which banks.

So if you have money to invest, check out the Ally bank CD rates right here; Ally bank which was formerly called GMAC bank has a lot to offer indeed!

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Forex Signal System

EricStan — Sat, 25 Jul 2009 00:05:39 +0000

What is Forex Signal System?

Forex Signal System is group of analyses which Foreign Exchange traders use to determine whether to buy or sell a currency pair at any given time. The Forex signals could base on technical analysis charting tools from a Forex platform or current events.

The usual trading system of a trader consists of a group of signals that work together to create a buy or sell decision. Forex Signals can be subscribed through the internet for free or for a fee from reputable and well known traders or brokers. They would send you daily trading signals that you could use in your Forex trading each day.

Importance of Forex Signal System

In Forex trading, it is really important to have a signal system. A lot of traders base their trading careers on Forex trading signals. One cannot underrate the value of having a Forex signal system when trading currencies because it could make trading easier and more profitable. It could also lessen the risks and mistakes involved in currency trading. Mastering the Forex signals could mean more success in your Forex trading career.

To survive in the trading world, traders could base their Forex trading career by seeking professional help from a successful trader that could advise them some signals. From these signals, you are equipped with tools to make it easier for you to come up with intelligent decisions especially in this risky world of the Forex Market. Also, it is better if you could establish a relationship with a professional trader so that you could ask advice or help anytime regarding Forex signals.

Manual VS Automated

Forex signal systems can be either manual or automated. In a manual signal system, the trader looks for signals in the internet and interprets what they mean. These signals could mean whether to buy or sell a currency. In this kind of Forex signal, the decisions made by the trader are all based on his interpretation and this could take time. However, in an automated signal system, the trader just commands the software to search what signals to look for and the software will automatically interpret them.

There are a lot of software programs on the market today that promises to provide fast and accurate forex trading signals. But the downside of an automated signal system using this software programs is that it removes the psychological element of the system that can be harmful to a lot of traders especially in decision making.

Visit Forextradersystem.com to learn more about Forex systems and automated Forex robots. Read also the Fap Turbo robot review, one of the best automated Forex robots on the market!

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Hedging – What Is It, And It’s Uses In Risk Management

dstrocen — Thu, 16 Jul 2009 18:07:20 +0000

Second of a two part article

Before discussing the use of hedging to off-set risk, we need to understand the role and the purpose of hedging. The history of modern futures trading began in Chicago in the early 1800’s. Chicago is located at the base of the Great Lakes, close to the farmlands and cattle country of the U.S. Midwest making it a natural center for transportation, distribution and trading of agricultural produce. Gluts and shortages of these products caused chaotic fluctuations in price. This led to the development of a market enabling grain merchants, processors, and agriculture companies to trade in contracts to insulate them from the risk of adverse price change and enable them to hedge.

The first commodity exchange was the creation of the Chicago Board of Trade, CBOT in 1848. Since then, modern derivative products have grown to include more than the agricultural industry. Products also include Stock Indices, Interest Rates, Currency, Precious Metals, Oil and Gas, Steel and a host of others. The origins of the commodity and futures exchange was created to support hedging. The role of speculators is beneficial as they add trading volume and important volatility to what would otherwise be a small and illiquid market place.

A bona-fide hedger is someone with an actual product to buy or sell. The hedger establishes an off-setting position on the futures or commodity exchange, thereby instituting a set price for his product. Someone buying a hedge is known as being “Long” or “Taking Delivery”. Someone selling a hedge is known as being “Short” or “Making Delivery”. These positions known as “Contracts” are legally binding and enforced by the exchange. You can view a complete listing of the worlds different exchanges at: World Exchanges.

Entering your trades either for speculation or hedging is done through your broker or Commodity Trading Advisor. Commodity and Futures exchanges are distinct from Stock Exchanges, although they operate using the same principals. They are regulated by different agencies such as the Commodity Futures Trading Commission who are responsible for regulation of retail brokers in the USA as well as Commodity Trading Advisors who are Portfolio Managers.

Now let’s view some real life examples of hedging or mitigation of risk by using exchange traded derivatives.

Example 1: A mutual fund manager has a portfolio valued at $10 million closely resembling the S&P 500 index. The Portfolio Manager believes the economy is worsening with deteriorating corporate returns. The next two to three weeks are reports of quarterly corporate earnings. Until the report exposes which companies have poor earnings, he is concerned of the results from a short term general market correction. Without the privilege of foresight, he is unsure of the magnitude the earnings figures will produce. He now has an exposure to Market Risk.

The manager thinks of his options. The greatest risk is to do nothing, if the market falls as expected, he risks giving up all recent gains. If he sells his portfolio early, he also risks being wrong and missing further rally’s. Selling also incurs substantial brokerage fees with additional fees to buy back again later.

Then he realizes a hedge is the best option to mitigate his short term risk. He begins by calling his CTA (Commodity Trading Advisor) and after consultation places an order to sell short the equivalent of $10 million of the S&P 500 index on the Chicago Mercantile Exchange “CME”. Now his result is when the market falls as expected, he will off-set any losses in the portfolio with gains from the Index hedge. Should the earnings report be better than expected, and his portfolio continues upward, he will continue making profits.

Two weeks later the fund manager again calls his CTA and closes the hedge by buying back the equivalent number of contracts on the CME. Regardless of the resulting market events, the mutual fund manager was protected during the period of short term volatility. There was no risk to the portfolio.

Example 2: An electronics firm ABC has recently signed an order to deliver $5 million in electronic components of next years model to an overseas retailer located in Europe. These components will be built in 6 months for delivery two months after that. ABC instantly realizes they are exposed to two risks. 1. the rising and volatile price of copper in 6 months may result in losses to the firm. 2. the fluctuation in the currency could easily add to those losses. ABC being a young firm cannot absorb these losses in view of the highly competitive market from others in the field. Losses from this order would result in lay-offs and possibly plant closures.

ABC telephones their CTA and after consultation places an order for two hedges, both for an expiry in 8 months, the date of delivery. Hedge #1 is to buy long $5 million of copper effectively locking in today’s price against further price increases. ABC has now eliminated all price risk. The risk of plant closures is greater than the lure of increased profit should copper price fall. After all, ABC is not in the business of speculating on copper prices.

Hedge #2 is to sell short the equivalent of Euro Currency vs US Dollars. Since ABC is effectively accepting EC in payment, a rising US dollar and a weak EC would be detrimental and erode profits further. The result of the hedge is no risk and no surprises to ABC in either copper or currency levels. A risk free transaction and full transparency is the result. In 8 months with the order completed and the customer accepting delivery, ABC notifies the CTA to close the hedge by selling the copper and buying back the Euro Currency contacts.

Many examples exist to demonstrate the mitigation of risk to an institution or financial portfolio. New products are constantly created and available on both over-the counter and exchange traded markets. It would be wise to consult with a qualified Commodity Trading Advisor or broker to discuss the analysis for an on-going risk management solution or a one time only hedge.

Dwayne Strocen is a registered Commodity Trading Advisor specializing in analyzing and hedging Market and Operational Risk using exchange traded and OTC derivatives. Website: http://www.genuinecta.com

View more information about Hedging and hedge fund investing.

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Personal Liability Insurance Quotes from Multiple Companies

campbel — Tue, 02 Jun 2009 13:14:17 +0000

Way of life: it’s all about breathing, adoring and amusement. But when the unforeseen catches you by surprise, how can you struggle back and reside cheerful and sheltered?

With an accurate auto, house, health or life insurance, you can enjoy life to the most. In reality, having insurance capitalize a grin on your face and cash in your pocket when you are traveling through the vicious circle of life.

Nevertheless going without it really isn’t an option, Affordable auto insurance quotes isn’t at all times the easiest issue to understand. People need Affordable auto insurance quotes for a variety of reasons. Foremost, drivers in every state must carry proof of some type of auto insurance in order to drive. Second, auto insurance protects you from financial and legal obligation when you’re involved in an accident.

Rental property insurance is the paramount way to get rental property insurance coverage for ones losses or reparation. Many landlords do not hearten tenants to get rental property insurance. Rental property insurance can truly hoard a person from paying losses from ones own pocket and can also save one from unnecessary liabilities.

Receiving Personal liability insurance has never been so easy. We have dozens of companies competing for your business and it only takes a couple of minutes. You can get personal liability insurance coverage as an individual or as a family or partner policy.

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Forex Trading Made Easy with Visual Software

admin — Sat, 23 May 2009 04:07:13 +0000

Forex Software Makes Forex Easy

Forex (Foreign Exchange) means international currency trading. In other words, a trader buys a foreign country’s currency when they believe the value of that money will increase against the value of another currency.

With the right software, like ETORO, you will be introduced to the multi-trillion dollar world of currency trading the right way.

It’s Simple! The eToro forex platform is designed to make the online forex market understandable to traders on their first trade. You only need a $50 deposit to get started.
It’s Visual! The eToro forex software displays your trades using dynamic visualizations, so you can literally watch your trades go.
It’s Educational! Hone your forex trading craft by using our eToro’s online forex tutorials, trading guides and unlimited practice mode with live forex rates.

You can learn more here: Forex Made Easy Software

But just because this software is intuitive and visual, don’t think it is only for beginners. Expert traders can enjoy many benefits which include expert tools.

It’s User-Friendly! The eToro platform has a remarkably intuitive interface that enables you to forget about fumbling with bulky forex software and focus exclusively on your trades.
It’s Professional! The eToro forex software provides you with all the forex trading tools you need: online forex charts, graphs, financial updates, trading orders and leverages ranging from 1:10 to 1:400.
It’s Reliable! eToro is operated by leading online forex brokers who make sure that your forex trades are executed with precision and offer low spreads – as low as 2 pips.
eToro is also a Community! We also think that you’ll enjoy our various community features including public and private chats, a lively online forex forum, and our weekly prize bearing forex trading challenges.

You can start right away. Practice with a free demo account that simulates the real world. Then start real trading with a deposit as low as $50! Easy Forex Systems Online.

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