Do you have kids? Do you have plans for your kids to go to college one day? Have you looked at how much college is going to cost you for just one kid? College is a big investment, but it is a good one. If you begin planning for this huge expense when your kids are young, you won't take much of a hit when the day comes that your teen packs his or her bags and heads off to start a new life at school. This blog will provide you with several ideas and tips that can help you find ways to plan for your kids' college tuition.
If you're approaching retirement, then you need to think about your finances. You will most likely need to supplement your social security payment. If you have money in risky stock investments, or in a bank collecting interest, then it would be wise to consider re-appropriating some, or all of it, to investments that are more suited for a retired person.
Here are some investments that are suited to a person getting ready to retire.
Dividend Paying Stocks
When you retire, you are going to want income of some sort. The only type of stocks you should consider are those that pay a dividend. Otherwise, you will have to sell the stocks in order to generate money. You get to keep the stocks and withdraw the dividend as cash.
Try to only get stocks that are blue chips. These are large corporations that are not extremely susceptible to volatile swings in the marketplace, as opposed to small-cap companies.
Municipal Bonds
Another safe, income-generating investment are municipal bonds. These bonds are tied to the government, specifically local governments. For instance, you can purchase bonds from the state of New York, Nevada, California, or you can get a mix.
These bonds will pay a fixed rate for a period of time. They are less risky than stocks, so they don't pay out as much as many high paying stocks. If you are concerned about owning stocks, then this would be a good play.
A Managed Income Fund
If you don't want to spend time looking into particular bonds and stocks, then you can always choose a managed income fund. These are sold by many large investment houses. These funds will contain a mix of municipal bonds, treasury notes, corporate bonds, and stocks. They are chosen and managed by financial professionals. You can purchase one of these and not have to worry about buying and selling individual bonds and stocks when the market changes.
Annuities
If you are the type of person who doesn't want to deal with any risk, then an annuity is the way to go. These are financial devices that will guarantee you a fixed amount of money for the rest of your life. The exact amount of the monthly payment will be determined by calculating your age and the amount of money you put into the annuity. These are the most stress-free method of securing retirement income. You never have to worry about the stock market or the bond market. Your annuity income is guaranteed.
Share13 October 2015
