Monthly Archives: August 2013

Details about retirement plans

retirement plansIf you about to retire recently from your job, then it is high time that you should start thinking about retirement plans. Now you must be wondering what a retirement plan is? It is nothing but a finance plan to secure your life post retirement. Investing in a retirement plan ensures a constant source of money for the retired persons when there is no steady source of income for them. Many finance companies offer retirements with assurance of good returns. You should do a well research before you invest in any such plan. However you can also invest several other ways to ensure good returns post retirement. That will also act a sort of retirement plan for you.

You can invest in some mutual funds when you are already working so that you can get good returns in the future and your life post retirement period is secured. You should know the details of the mutual fund while investing. You can also invest in real estate because many people consider investing in real estate the wisest option. The main reason behind this is the exponentially growing demand for real estate. If you buy a property, then you can expect good returns from it by renting it out. This will ensure a steady source of money for you.

You can also keep your money in some savings scheme or recurring deposit scheme with some banks. These things also ensure that your life post retirement is completely secured financially. You can also invest in share markets as this is a good option too. But then you have to keep a constant eye on the movement of the share market. Investing in some retirement plans of companies is also considered a wise decision provided that you have done enough research on it.

How to choose the right financial advisor?

financial advisorAn effective finance management is the key to a secure financial future and a better worry free life. But a proper finance management is a perplex affair requiring meticulous organization and hours of planning which is little complicated for a layman. Thus, it’s best to leave it with the professionals who will do the entire planning on your behalf leaving you with clear blueprint to follow on. Are you on the lookout of a financial advisor? Well, the post below has come up with some essential tips that would come handy while you are in quest of a good financial advisor.

Renowned name

You have to settle with a renowned financial advisor since he would be dealing with your money. Thus, it’s best if you can proceed with referrals from your friends and family who are in touch with financial advisor. If you have no such help available you have to search yourself. Pick out 5-6 potential names and ask them to provide you with their client contacts so that you can understand the clients’ experiences with the advisor.

Check credentials and experience

Your chosen financial advisor should be armed with the necessary diploma & other related credentials required for being a financial advisor such as CFP, PFS, CPA or ChFP. Experience plays a huge part when you are managing finances and hence make sure your chosen advisor is a seasoned one. It’s because different families have their own specific financial situation and one single management approach won’t fit all. A seasoned financial advisor has the experience of handing finances for various families and hence knows which management strategy works in which situation.

Quality attention

Your financial advisor should be ready to attend you properly where you will get enough space and time to state you entire financial situation and how you would prefer to manage it – staying in sync with your aspirations and needs.