Three decades of disappearing pensions, stagnant middle-class incomes, restrained ability to initiate and maintain personal savings and the flop 401(k) experiment lay the bedrock for a retirement crisis that threatened millions of American seniors and their families. The American seniors have been repeatedly told to bear the expense of the fiscal failures that have already left them facing a questionable and depleted retirement. The latest Congressional budget deal in Washington aims the senior retirees with $12 billion in pension changes, including trimming down pensions for military people who give up their jobs in 2015 and requiring the new government workers to donate more to their retirement accounts. As per the New School for Social Research, 75% of Americans who are on the verge of retirement have less than $30,000 in their retirement accounts. The NIRS or the National Institute for Retirement Security reports that 4 out of 5 working households have retirement funds less than one times their annual income and 45% of the senior population don’t have any retirement assets at all.
Friday, 7 February 2014
Wednesday, 5 February 2014
According to reports by a senior Treasury Official on Wednesday, the 22nd of January, 2014, the opposition of the Republican Party to a new law (FATCA), meant to combat offshore tax dodging by the Americans will not hinder or obstruct the efforts of the Obama administration to implement it worldwide. With the huge outrage over the political spectrum of the nation over the controversial new addition to the US tax regime called the FATCA or the Foreign Account Tax Compliance Act, the RNC (Republican National Committee) voted largely to adopt and implement a resolution calling for a re-appeal. This strongly worded GOP measure has already generated immense support among the middle-class Americans who stay abroad and this, according to the analysts, represents simply the beginning of the aggravating campaign to stop FATCA and this reaction is being deemed to be one of the devastating consequences.
Recently, the Asset Owners Disclosure Project (AODP) asked the thousand largest asset owners of the world to share what steps they were taking to guard themselves against the possible risks of investment? What if their investments in fossil fuels and other assets turned out to be worthless in the near future? In fact, the investors are asking themselves whether they’re done with all the excitement of 2013 stock market rally and whether it has distracted them from the looming risks. As per reports by the Acertus Market Sentiment Index, a monthly measurement of the attitudes of the investors towards taking on risk, reported a 45% hike in risk tolerance by the end of 2013. This statistic has put the current market in the 86th percentile relative to all the historical measures of risk tolerance.
Tuesday, 28 January 2014
When you have a home equity loan in your home, refinancing your current mortgage loan is often a tricky endeavor. Usually, a home equity line of credit won’t be repaid through refinancing. According to the liens on the property, that establishes who has right to more money in case the homeowner defaults on the mortgage and declares bankruptcy, they are reported chronologically. The home equity loan would be considered as the first lien, and the mortgage would become the second lien. This often becomes a deal-breaker for obtaining a mortgage refinancing. One needs to petition the bank that holds the home equity loan for subordination to second lien, which is necessary to refinance your mortgage during such a situation. Here are some steps that you can take in order to refinance when you already have a home equity loan on your property.
Thursday, 23 January 2014
Gloomy market returns couldn’t exactly create a tailwind for IRAs and 401(k) portfolios since the last decade but something that is equally pernicious is the problems that the brains of the seniors are messing with their retirement plans. According to a survey that included some retirees, it has been said that the retirees are all ready to face financial defeat as their emotional juice is what gets most attention. When the mind oscillates between investing $5000 in an IRA for securing your retirement and spending $5000 for a vacation to Mauritius, the mind will always choose the later option. But what is more important is the need for a retiree to understand the value of retirement planning and the ways in which they should carry forward it.
Friday, 17 January 2014
According to the bullish predictions by property professionals and expert economists, the home prices in the UK are all set to rise by 8% in 2014, banking on the large amount of surprise gains that were made in 2013. After the result of 7 surveys by banks, real estate agents, surveyors, there are forecasts of widespread growth with gains in all parts of the nation, not just south-east and London. The initiatives of the UK government to encourage lending mortgage loans have yet again restored confidence to the real estate property marked and driven the excessive demand of the consumers. This trend is set to continue throughout 2014 and may also mean tougher affordability tests on mortgage loans.
So, if you’ve someone who has found your dream development project, the next thing that is perhaps coming into your mind is how to get the money to buy it! In the current market conditions, it’s not easy to raise financing for your property development needs, but if there are definite profit margins, you will definitely find lenders in the market. Are you someone who is into property development business and is desperately looking for ways in which you can opt for lending? Read on the concerns of this article to know more on property development financing.
Saturday, 11 January 2014
Nothing can be a financially devastating incident than a personal injury lawsuit. If you injure someone while driving on road and you’re sued, you will be found liable for all their medical bills and damages. Given the rise of health care costs, bearing the medical bills of another party who is not entangled with you through any blood relation, is pretty tough. You may soon find your wallet empty while making payments for the party who has sued for personal injury. In order to avoid burning a hole in your wallet, you should be aware of the different ways in which you can avoid a personal injury lawsuit. Here are some ways to take into account.
Friday, 10 January 2014
Yes, it is true that it can take years to receive a final decision on your application for Social Security disability benefits. Although there are ways in which you can reduce the time by taking steps like completing all the paperwork accurately, responding quickly to any Social Security requests for information and assembling your medical records together, yet there is often need for professional help. There are disability attorneys who can assist you during times of need and make sure you receive your Social Security benefits. Read on to know how a disability attorney can speed up the process of getting a decision on your claim sooner.
Saturday, 28 December 2013
As we prepare to step into 2014, every consumer is concerned about his personal financial condition. What about the position of the global economy in 2014? This is a perennial question among the analysts, the investment bankers and the industry experts. Reports and studies suggest that the world economic scene is yet again evolving with stronger potential of growth in the US, UK and China as they emerge as strong market forces. On the whole, different countries will see positive growth and a few others might not be subject to extreme positive growth. Read on the concerns of this article to know what the New Year holds for some of the economic superpowers throughout the globe.