Expert Financial Advice For 2011

Access to expert financial advice and amending your retirement plans accordingly

can help you save more money in your retirement savings accounts and get better yields from your investment portfolio. The financial advice you receive depends on your personal and financial situation, as well as your retirement goals. Also, the information you will use to update your financial strategies also has to be updated according to the times; it is not likely that you will protect and create wealth with a retirement plan you have not changed since it has been established, especially as some experts say that the national and global economy is still several years away from recovery. Aside from picking good dividend-paying stocks or ETFs and building an emergency fund with a Roth IRA, here are other recommendations you should heed for 2011:

You can eliminate debt and have access to more funds if you cut down on credit card use. You can also shift to cards from credit unions, as these are typically much less costly when compared to ordinary credit cards from the usual providers. This difference in related expenses is because credit unions will not raise interest rates beyond eighteen percent, compared to the thirty percent or so that major providers and banks exact. In addition to the lower interest rates, many credit unions do not charge fees for balance transfers. These are just a few benefits of getting a card from a credit union; benefits that can add up to a lot of savings.

As many otherwise stable nest eggs have been used up or depleted significantly because of rising educational costs, many investors and experts have found that families who owe money on private student loans can use term-life insurance to pay what they have borrowed. For example, if you have co-signed such a loan (or are thinking about it), advisors recommend purchasing this type of coverage that insures your child for the loan amount. Assume that you purchase a policy valued at $100,000. This policy may cost you somewhere in the neighborhood of $5 per month, compared to a student loan of the same amount that could cost you $1000 every month for the next two decades if something untoward happens to your child.

Solid financial planning for retirement should use up-to-date and accurate information to be useful to your nest-egg building efforts. Aside from finding basic tips on planning on the Internet, you can hire an experienced financial advisor or investment planner to help you do better with expert financial advice in 2011.

by: Katherine Smith

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