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Thursday, 09 October 2008 21:32 |
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Question: I’ve been hearing a lot of talk of late about the safety of money market accounts, so I’m wondering if the money I have in a money market account with my bank is secure. Is it? —M.S., Atlanta, Georgia
Answer: I think your worries may stem from the possibility that that you’re confusing two types [...] |
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Read more... [Sizing up ’safe harbor’ money markets]
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Thursday, 09 October 2008 21:32 |
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Question: My 401(k) is invested entirely in stocks and has dropped 30% over the last two months. Should I move my account out of stocks now, or should I wait for my account balance to go back up and then move it into bonds until the market stabilizes? I’m afraid I’m going to lose even [...] |
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Read more... [Surviving a 401(k) freak out]
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Written by Jerry Nolte
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Tuesday, 26 August 2008 21:22 |
| Pension Plan Concepts 101 - Your Pension Plan Adviser |
Are You Gambling With Your Pension Plan Choice I’m sure that you already know that saving for your retirement is one of the most important financial plans you can make. You can choose to save in a pension scheme and/or a savings plan, but whatever you decide, you’ll want your funds to grow and be worth as much as possible in the long-term.Types of pension scheme:There are a number of different kinds of such schemes:Pension issued by State: It is important to know that such kind of pensions are determined by the amount of the qualifying years you have had, they are based on the National Insurance charges you have paid. If you are 65 for men and 60 for women you can receive your state pension. Pension issued by company:Such kind of pensions is created by the employers to submit payments for their employees on pension.Private pension:This type of pensions is issued by banks, life insurance companies and building societies. There are some possibilities to start receiving your pension already at by the age of 50.
Keep in mind that if you keep your money in a bank or building society account, your means should grow enough to resist the pressure and the risks of inflation. On the other hand, if you want your funds to grow quicker, you should better invest them. Bear in mind that most investments carry a risk your funds can rise or fall in value.NOTE!!! Participating in a pension plan is an important financial step and should be done in consultation with
a financial planner. |
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Last Updated on Thursday, 09 October 2008 21:29 |
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