How to Manage Your Personal Finances – Retirement Capital Requirements

Many articles have been written about the subject of retirement planning and there are many books published by experts on this very important issue. I have just recently joined the fold of the retired group and I have been through the mill (so to speak) of planning and implementing my retirement plan in it's initial phase. It is this, the initial phase, which I would like to concentrate on in this article.

So, how do I plan my retirement date?

Most companies have contractual dates for retirement. For example, retirement ages could range from 55 years old for early retirement to 60 years old for Directors to 65 years old for operational staff. These dates are generally a guideline since companies do exercise some flexibility when applying these parameters. However, each individual should be using these parameters as a benchmark and then build a projected financial model to see if they are adequately provided for in retirement. Note: The use of a financial advisor is highly recommended in this planning process.

Since the above guidelines, your retirement date is in fact flexible provided that you can satisfy the golden formula which is expressed as: "Accrued income plus passive income must exceed your current cost of living plus an adjustment (up or down) for lifestyle choice in retirement plus inflation projections and sufficient liquid cash for emergencies ".

Let's face it, the thought of early retirement is in the minds of all of us but if you can not afford it, you are heading for suicide.

Let me expand the golden formula as follows:

  • Accrued income is the monthly pension or income that you can derive from your pension accumulation through your working life. This figure will be provided to you by your pension fund or your investment institution.
  • Passive income is income from investments that you made through your working life. Here you consider regular income from property investments, equity investments, dividends, savings interest, business partnerships and any other form of reliable income which you will derive on a monthly basis.
  • Current cost of living is the full annual cost of your current lifestyle. Be extravagant in estimating this figure and be sure to include everything that you incur as a cost.
  • Adjust your retirement requirements up or down depending on your circumstances and your intended lifestyle in retirement.
  • Make adequate provision for injury during your retirement years. Your financial advisor should project your retirement capital adequacy over your expected lifespan.
  • Ensure that you have a 'nestegg "of cash available for emergencies such as buying a new car, unexpected medical bills, renovating your house, helping your kids, taking some holidays and anything else which is relevant to your situation.

I spend many hours pondering the above elements and I suppose it is only natural to be very conservative about whether you can actually go ahead and retire. Assuming that the criteria for the golden formula are met and in order to make the decision a little easier, the following points are highly recommended:

  • You should have no heavy debt burdens. Your mortgage should be paid off, your car hire purchase agreements should be settled and you should have no major debt commitments. In fact, you should be able to live from cash out of your wallet.
  • Your "wish list" for your activities in retirement must be catered for in your planned expenditure.
  • You must not have any plans that requires you to erode your capital base.
  • You need to be sure that your monthly income is pretty secure and you need to have alternative plans if for some reason, your monthly income drops.
  • You need to be able to save some of your retirement income monthly just to prove that you are coping.

In this planning exercise, you need to budget for everything that you want in retirement. Once you have taken the step, there is no turning back if you are serious about retiring. You also do not want to find out that you can not afford some of the things which you had in your vision.

In conclusion, the most important factor in planning your retirement is to ensure that your life partner (if appropriate) is fully informed and on board with the plan and that you create a mutual acceptance and arbitration about your future in retirement.

The above article is created to stimulate thought on your own unique circumstances and you need to tailor your plan accordingly.

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Run Cooler Motorcycles

A motorcycle's suspension is a thankless job as it attempts to isolate riders from the irregularity of the road. With every fork compression and expansion your motorcycle's fork oil gets hotter and ever loses viscosity. As the oil loses viscosity your forks compress easier and easier, and since there is no more added rebound your suspension wallows and the bumps in the road become bumps in your handlebars and seat. Keep your forks still, strong and cool by spending a half hour and $ 15 installing some fresh fork oil. You will need a liter of fork oil ($ 10), a Ratio Rite ($ 4) to measure the proper amount of oil, a car jack, a funnel ($ 1) and some basic hand tools.

Look in your motorcycle's workshop manual to figure out the amount and viscosity of the oil currently in your forks. If you would like a stiffer suspension purchase thicker weight fork oil and purchase thinner oil if you prefer a softer suspension. Raise the front of your motorcycle off the ground using a car jack under the engine block. Remove the front wheel and front fender to allow you access to the triple trees. Measure the amount your fork stanchions stick out above your triple trees and loosen the caps on the left and right fork stanchions. Loosening the upper and lower triple trees and remove both fork stanchions. Unscrew the fork caps but be careful as the caps have a tendency to fly off as a spring is pushing against them. With the caps off, turn the stanchions upside down, remove the fork spring and let the oil drain out. Pay attention to see if the oil is dark, thick or filled with bits of fiber or metal. Pump the suspension up and down to fully evict all of the used oil.

Once the old oil has been removed we can start filling the fresh oil. Since the amount of oil affects how the forks will compress, think about if you liked the handling of your suspension or would prefer a stiffer or softer set up. If you liked the old set up, fill the Ratio Rite with the amount of oil specified in your workshop manual and fill a fork leg. Pump the fork stanchion up and down to eliminate all of the air in the system. This typically involves pumping the fork for two minutes. Once you are done move on to the other leg and repeat the process. When you are finished compress both forks and measure how far the oil is from the top of the forks. The number should be the same for both forks. If not keep pumping or add some oil to the fork with the lower level of oil. Insert the fork springs, compress the fork, install and tighten the fork cap. Insert the fork stanchions through the triple trees up to their previous height above the top triple tree. Reassemble all of the parts, making sure to torque the axle, axle pinch bolts, fork caps, upper and lower triple trees to factory recommended settings. Say thanks to your suspension and your suspension will thank you by running cooler and better absorbing every bump you hit.

Steps in Obtaining a Birth Certificate Copy Online

The Internet is a vast and truly wide repository of updated information, records, as well as archives of past data. In doing a search for public records online, experts note that the first crucial step towards quickly locating information about people, companies or personal data begins with gaining a thorough understanding of what defines a public record as well as private information. After gaining a clear overview of the limitations and scope of a public record search, you’ll find out how important this search mechanism is, especially in searching for information such as a birth certificate copy, among other sensitive and vital information.

In essence, personal or confidential data is considered as private and restricted information. Items such as date of birth, an individual’s Social Security number, insurance, medical, financial, as well as birth records are private by definition; however, online researchers note that confidential private data sometimes becomes public, which means that you may be able to locate or retrieve these types of records ethically and legally. This includes searching for a birth certificate copy.

The first step to do in finding birth certificate copies online is to type the name of the city/town where the person you’re looking for was born, along with the name of the county in the search engine. After this, locate the specific county register, by typing for example ‘county register/clerk recorder’. Once you get in the county registrar’s Web site, begin searching for the birth certificate. Once you’ve found the specific record, print out a copy of the certificate’s request form, fill the forms and read the instructions. Once you get the copy of the form, have it notarized and send it to the indicated address along with the required check or money order payment for the fees.

In obtaining birth certificate copies online, you should know that some US counties are so small that they may not have the required information posted on their web site. Should this be the case, and then call the phone number posted on their site for proper instructions. Online search records experts say that some counties will allow you to order a copy of you birth certificate online, and all you need to present is a valid credit card, as well as to fax the notarized request form to the county registrar. These days however, with concerns about identity fraud or theft, not all individuals are allowed to obtain certified birth record copies. The persons or individuals who are only allowed to obtain an authorized certified copy are the registrant himself or his/her parent and legal guardian. The individual or entity may also be allowed to obtain certified birth record copies online whenever this is mandated by a court order, or from a lawyer or a registered adoption agency that wants to obtain the person’s birth record copies in compliance with certain sections of the US Family Code. Law enforcement officials and representatives of a governmental agency are also allowed to access birth records, provided that they are conducting official business. Lastly, a child, sibling, spouse or grandchild of the individual may also be allowed to obtain copies of his/her birth records, as long as these persons have been properly authorized to do so.

Risk Management News

Risk management is the act or practice of controlling risk. Most businesses re very interested in understanding the ways to control risk. This has created a secondary industry focused on mitigating risk and providing management information that allows business to gain from the knowledge of others who are successful in mitigating risk. As a result there are many trade journals dedicated to risk management information and news. In a constantly changing business environment such news is critical to many companies in taking action to prevent future losses.

This process includes identifying and tracking risk areas, developing risk mitigation plans, monitoring risks and performing risk assessments to determine how risks have changed. Depending on the types of risk involved, it can be further split up into operational, credit and market risk management.

Fierce competition and the widening of consumer bases have encouraged companies to take a greater risk. The concept of ‘no risk no gain’ has taken on a new meaning with the introduction of risk management. Modern companies have the confidence to deal with risks head on and are keener on mitigating rather than avoiding risks.

Businesses have learned to involve more business-focused managers than IT security professionals into their risk management goals. Employees, who understand the complexities of business, are capable of contributing a lot towards risk management. Increasing regulatory pressures has forced companies to expand their risk management teams.

Companies are turning to IT and software to better understand, evaluate and manage these various types of risks. According to a recent survey from Forrester Research, 62 percent of CIOs indicated they already had a company-wide initiative focused on enterprise risk and compliance management.

Most risk management software packages are equipped with tools to help manage product design and manufacturing operations. These help in cutting costs and building quality. They provide standard database functions to add and delete risks, as well as specialized functions for prioritizing and retiring project risks. Each risk can have a user-defined risk management plan and a log of historical events. The tools derive cost, schedule, labor and materials estimates by assessing the interaction and impact of product, organizational and even operational variables.

Many companies are turning to a detailed study of latest trends and tools in the market to prepare themselves for sharper risk management in their businesses.