Money expert Mary Hunt returns with a new book, The Smart Women's Retirement Plan Guide, to help women thrive in the new year and beyond. While facing women, men can also benefit from Hunt's knowledge of money. After she accumulated more than $100,000 in debt in her early years, she can hone; and spent 13 years erasing.
"Do you have a retirement alert?" Hunt asked in front of the book. "I can assure you that they are getting older as they grow older."
In a 2012 survey, the Hunt website found that 92% of women of all ages did not have enough education to meet retirement savings goals.
Retirement savings require determination and effort; Hunter believes that women can succeed. "If we lack confidence, it is because we lack knowledge and desire, of course not because we lack wisdom and ability," Hunt said.
Time is better than all factors in retirement savings. The sooner you start, the better. However, Hunt emphasizes that no matter which stage of your life you have, you must start now. "If you don't start now, it's just too late. Take steps to produce long-term results.
Hunter's teaching characteristics:
Retirement savings plan from
. Hunt introduces a six-step retirement savings plan that includes:
Establish a contingency fund. Also known as the contingency fund. Save money for lifetime accidents [car repairs, home repairs, etc.]. This money needs to be mobile [can be easily obtained in two or three days], free from erosion [establishing a risk-free savings account] and able to live for at least six months. The fee is funded if there is a loss or other impaired income event.
Get rid of debt. Eliminate all unsecured debt [credit card debt, student loans, personal loans]. Hunt said they are stealing your future like cancer. Incorporate Hunter's Rapid Debt Repayment Program [RDRP] to abolish debt.
Have your home completely . The number of houses approved for purchase of mortgages is halved. The monthly mortgage amount is equal to the total approved amount of the home in half the time. Strongly protect your home equity [the difference between the market value of your home and the mortgage balance]. Avoid buying a home equity loan or credit line, which will reset the time of the 30-year mortgage.
Once the debt is eliminated or managed, a considerable amount of savings is accumulated, pension funds are increasing, or IRA succession or other cash outfalls occur, consider hiring a financial planner.
Hunt describes three types of financial planners:
- Based on commission. This planner does not charge for time, but charges for the sale of investment products. He or she has obtained an agreement on these sales.
- The fee is mainly. The planner is charged at a flat rate or on an hourly basis. The fee is pre-specified and the planner is a Registered Investment Advisor [RIA]. The law requires them to comply with the trust standards and make them responsible for putting the best interests of the customer first.
- combination. This planner is a combination of the first two. When a customer purchases a financial product based on their recommendations, the customer pays a fixed or hourly fee and plans a staff contract.
Choose a financial planner Hunter with at least five years of experience. Make sure they act in your best interests and can explain financial concepts at your level. Be wary of any planner who claims to be able to beat the market. Finally, work with the planner; then make your own investment decisions. Hunt stressed: "The main loyalty of the consultant or planner will be for her. This is simply human."
Hunter educates in a conversational tone, avoiding jargon, charts and numbing data, which makes reading more attractive. As a Christian, she teaches faith-based money management. Hunt believes that God is the source of blessings for all life, including money. Employees, spouses, investments, trust accounts, parents or any other entity are channels of financial flow, but not the ultimate source. She made reasonable preparations for retirement without consideration; and believed in the results of God.
Although it is important to raise a retirement nest, Hunt reminds readers that life is more than money. Health, spirituality, fostering relationships, staying active, continuous learning and volunteering are some of the characteristics of a balanced existence.
Ten years of financial planning, five essential tools for the money management system, investment base [automatically all payments to avoid making monthly donations [out of sight, absent-minded], reverse mortgages and parents paying for their children's college education [Not required], other money saving/architectural themes mentioned in this book.
Anyone who is committed to improving their financial position in 2014 will gain a life wealth beyond cash by inheriting Mary Hunt's funding practices.
To determine your baseline financial status and/or monitor your progress, please order your free credit report from the three major credit companies: Equifax, Experian, TransUnion, Visit: Annual Credit Report.
Orignal From: Mary Hunt's Guide to Smart Women's Retirement Plan - Personal Finance Book Review
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