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Americans are retiring younger and leading more active lifestyles after than ever before. The Baby Boom Generation Rewards credit cards has already begus taking early retirement.
In another 30 years, Generatoin X will have nearly completed the retirement transition. Both groups are changing what it means to be retired.A Wall Street Journal/NBC of bank america gold points visa News poll earlier bank of america gold points visa this decade provided the first strong evidence of the changing bank of america gold points visa idea about retirement in the U.S. Among the poll's findings, fewer than 10% of future retirees intend to live in a nursing home. Previous generations filling 20,000 nursing facilities with over 1 million retirees during the 1990's in the last decade are not going to be Rewards credit cards imitated. The new retirees aren't planning to let life pass them by.Nearly 70% of future retirees plan to work after they retire, an enormous increase over the number of current working retirees. American Express Retirement Services reports that about 24% of today's retiree income comes from part time employment.More than 2/3 of the respondents in the WSJ poll indicated they plan to volunteer with community organizations or do some other pulblic service. Almost 30% of non-retired adults fear boredom and/or alienation after retirement, and they plan to be involved in their communities to combat this fear.What about Social Security? Today's retirees rely on it, and tomorrow's retirees will need it, although less than today if they have planned carefully. Nearly 10% of current retirees cited financial worries as a significant disappointment in retirement. 30% of non-retired Americans admit to being scared about the financial implications of retirement. About 60% of those polled for the WSJ study indicated that Social Security was highly important to them (ranking 7 or higher on a scale of 1 to 10). 31% indicated that Social Security will make up all or most of their retirement income. This, even with the enormous popularity of 401(k) and other retirement programs over the past several years enabling a growing number of future retirees to rely less on Social Security than their predecessors.This reliance on Social Security contrasts with the view held by a majority of Generation Xers. Many would rather opt out of Social points america gold bank of visa Security and take retirement into their own hands than trust the government to keep its promises. A full 36% of Gen Xers in the WSJ poll don't expect Social Security to be around when they retire. 46% of them will retire before age 60, compared to less than 20% of Americans who retire pre-60 today.
The face of retirement is changing, but the heart of each generation's plans is financial security. The sooner you shore up your retirement savings, the sooner you can join the Boomers and the Xers who work a little, volunteer a little, and enjoy living the good life after retirement.2
DID YOU KNOW?
There are important factors for the wise investor to take into consideration before investing in silver bullion. The following questions should serve as a general guideline when investing in silver and other precious metals.
I’ve noticed that when I buy silver online I can take delivery or buy silver from a general pool. How does buying silver from a general pool work?
An investor will give a company who controls a large stock, or pool of silver a sum of money for a number of ounces of the white metal. The company then tracks the amount of silver that the individual purchased and deducts the number of ounces from the total ounces of the pool. The investor does not, and generally cannot, take delivery of the purchased silver. The upside to this method of investing is that a large amount (i.e. thousands of ounces) does not need to be stored by the individual and is kept under constant security, possibly in an offshore location. The downside is the investor does not know if the company is selling more silver than it has and the investor does not physically possess his or her investment.
How can I determine which method of silver purchase is right for me?
First, determine the size of the forthcoming investment. If a limited quantity is desired (i.e. a few thousand ounces or less) then locate a secure means of storage – a safe deposit box will do fine. If the quantity to be invested in is more than the secure storage will store, or secure storage cannot be found (a wise investor will shy away from burying an investment in the backyard), then buying silver from a general silver pool may be the best option. A wise investor may choose to diversify his or her investment by taking delivery and owning from a general pool.
There are several different forms of silver. What type is best to own?
Silver bullion can be found in either bars or rounds. Typically silver bullion bars come in 1 oz, 10 oz, 100 oz, and 1,000 oz weights. Usually the 1,000 oz bars aren’t exactly 1,000 oz – these bars are individually weighed and their actual weight is then stamped on the top and side.
Generally, owning 1 oz round coins are more preferable to owning 1 oz bars because when trading silver for goods, rounds are more recognized as a coin and are easier to transport. Rounds will likely be sold in plastic tubes that hold a count of 20 and can be stored vertically or horizontally. 1 oz bars are frequently stored in plastic sheets that can be stacked on top of one another like sheets of paper.
The wise investor keeps in mind that 1,000 oz bars must be redeemed in entirety, so when dealing with a few thousand ounces or less, a combination of 1, 10, and 100 oz bars are probably best. Only when storing a large amount of wealth should 1,000 oz bars be considered.
How do I know that the round I am buying is 1 oz of pure silver?
Silver rounds are 1 oz and are referred to as 1 oz silver rounds. Silver rounds will have the purity and content stamped on the front of the coin. Look for “.999 fine silver” and “1 Troy ounce”. The weight will also be stamped in grams and will vary depending on the mint. A smaller mint may appeal to investors by increasing the coin content from 31.1 grams to 31.2 grams or higher. Content and purity should be stamped on all silver that is sold which includes bars and rounds.
Should I purchase generic, semi-generic, well-known minted, or nationally minted rounds?
It never hurts to own a little bit of each, but generally speaking the wise investor wants the most silver for the money. Generic bullion is the least expensive, but can also be the least recognizable when reselling to a private purchaser. Most coin dealers will purchase generic bullion without any questions being asked. A familiar semi-generic mint is A-mark, and two well-known mints are the Sunshine Mint and Northwest Territorial Mint. Nationally minted bullion coins (i.e. American Silver Eagle, Canadian Silver Maple Leaf, etc.) are more expensive to purchase and do not yield a higher rate of return upon resale. Another type of silver an investor can purchase is pre-1965 U.S. coin bags. These bags have a $1,000 face value and yield approximately 715 ounces of silver. Before circulation the same silver coins contained about 723 ounces but decreased due to wear and tear. It is up to each investor to assess individual needs and make silver purchases accordingly.
How much can I expect to pay for the different types of bullion?
Always be sure to call multiple dealers and suppliers (found online or in the yellow pages under Gold and Silver) to find the best price. Some wholesalers will only sell in bulk (i.e. 500 ounces) and will offer a discounted fee per ounce. Large purchases can be made from a particular mint and spot price can be secured over the phone. When buying several to a few hundred 1 oz rounds, a dealer will typically charge $0.50 over spot per ounce of generic silver bullion. Some deals can be found and anything over $0.50 is probably too much.
When buying semi-generic, widely known, and nationally minted silver bullion the dealer will charge a higher fee as the recognition factor of the mint increases respectively. When deciding which is best to purchase, it is wise to consider future re-sale. It is always safe to own a little of each, but usually the type of mint pertains to private re-sale as most precious metals dealers will accept any minted silver without question.
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There are many rewards to reducing credit card debt. To begin with,
eliminating needless debts will save you money, lessen stress, and boost
your credit rating. Obviously, achieving a life free of debt is easier
said than done. Nonetheless, there are practical tips that can help
consumers eliminate debts and raise their credit score.
Stop Using Credit Cards
Before you can reduce and alleviate debts, you must stop using credit
cards. Understandably, emergencies arise that justify using credit. For
example, a large car repair, home improvement, etc. On the other hand,
if the bulk of your credit card expenses revolve around shopping
sprees, vacations, or entertainment, a radical lifestyle change is needed.
To avoid using credit unnecessarily, remove all credit cards from your
wallet. Do not cancel credit cards. By doing so, you will decrease your
credit score and rating. Instead, exercise self-control and make all
purchases using cash.
Take Advantage of Options Available to Homeowners
Owning a home puts you at a huge advantage. Many homeowners have become
debt free by obtaining a home equity loan or refinancing. As your home
increases in value, you build equity. Equity is the difference in what
you owe the mortgage company and your home’s market value. By obtaining
a home equity loan or refinance, homeowners have access to their home’s
equity. The funds may be used to consolidate debts. Paying off high
interest credit will decrease monthly debt payments and save you
Using Debt Management Agencies
Before filing bankruptcy, individuals with excessive debts should
contact a debt management agency. These agencies are extremely useful and
have helped millions of people become debt free in as little as five
years. Representatives will evaluate your current debt and credit
situation, and determine the best plan of action.
To lower monthly payments, the agency will consolidate debts and
contact your existing creditors to negotiate a lower rate, waived fees, etc.
A low interest rate makes it possible to pay back creditors faster.
While working with a debt management agency, you will no longer forward
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agency will collect payments and allocate the funds to pay off credit card
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