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Loanio Roundup – Veteran’s Edition

Monday, March 15th, 2010

Thank you to our Nation's Veterans.

Loanio would like to thank all the men and women who have put their lives on the line to protect America’s freedom and ideals. Your sacrifices and bravery have been beneficial to many and are greatly appreciated.

Below you’ll find links to resources, both blog and news articles on the economy, small business, p2p lending, and investing. We hope you find them helpful in navigating the financial waters of the internet.

Photo Credit: 1

Originally posted 2008-11-16 05:13:56. Republished by Blog Post Promoter

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Tags: bailout, balloons, bravery, credit flow, financial waters, free markets, mail, market watch, minding your business, mortgage rates, news articles on, npr, ny times, orlando sentinel, rivals, sacrifices, sba, smart money, survival of the fattest, yahoo finance
Posted in Banking, Investments, Loanio, Money, Peer Lending, Small Business, Stock Market | No Comments »

How Do I Plan For Retirement

Sunday, March 14th, 2010

Every working man and woman is entitled to a retirement that is secure and comfortable. Saving and planning for retirement is not necessarily an easy process however because we are living longer and healthier lives in general, which means we need more money to survive retirement than ever before. If you want to learn how to plan for a healthy, comfortable and secure retirement then you need to begin planning wisely using a blueprint similar to the one outlined below:

What do you plan to do in your retirement?

- Save early and often. –

The sooner that you begin to save money, the longer the amount of time you will have for those funds to grow. By putting compounding to use, you can make gains every year that will add on to the gains of the prior year, and so on and so forth. This can really add up, fueling the growth of your retirement fund.

- Set realistic and attainable goals. –

Do not use rules of thumb to project your retirement expenses, because they are based upon your needs and not the needs of others before you. What type of lifestyle do you want to live when you retire? Figure out the expenses accordingly and use these expenses to formulate how much money is needed to supplement social security and other income sources during retirement.

- Save using a 401(k). –

This is one of the best and one of the easiest ways that you can save money. Making contributions towards a 401(k) plan can provide you with immediate tax deductions, matched contributions from your employer, and even a tax deferment on the growth that your retirement savings accrues. This is absolutely excellent advice for anyone who ever wondered how to plan for retirement.

- Utilize IRAs for retirement savings with tax advantages. –

IRAs provide you with large tax breaks much in the same way that 401(k)s can. They offer two different types of tax breaks, one which provides growth that is tax deferred, and one that provides tax free growth but doesn’t allow for deductible contributions the way that traditional IRAs can. Roth IRAs do not allow deductible contributions, which mean withdrawals do not require you to owe any taxes in the way that traditional IRAs do.

- Make wise asset allocation moves. –

This means that your portfolio should be divided between stocks and bonds in a wise manner so that you can make a strong and powerful impact on any of the long term investment returns that you have. Stocks are the best option for stable and long term methods of growth, while bonds work well both in the short term and long term. Still, you should not rely too heavily on bonds when planning for retirement. If you want to stretch your nest egg’s life out to the best of its capabilities, you absolutely must make tax efficient withdrawals.

Photo Credits: 1

Originally posted 2008-11-14 05:57:29. Republished by Blog Post Promoter

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Tags: 401 k, amount of time, attainable goals, blueprint, contri, deductible contributions, how much money, income sources, lifestyle, man and woman, retirement expenses, retirement fund, retirement savings, roth iras, rules of thumb, Social Security, tax deductions, traditional iras, working man
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3 Tips for Teen Investing

Friday, March 12th, 2010

Parents like to complain that their teenage children do not listen to them. However, when it comes to matters dealing with money, the opposite is actually often true. Teenagers often welcome the advice that their parents have to give regarding finances, money management and investments. In the past few years, teenagers have been earning billions of dollars through summer jobs and part time after-school work. Many of these teenagers have gone on to spend all of the money that they have made, while only a few have saved it up, only to end up spending on a larger purchase down along the line. Kids these days need to become more aware about their income and investment basics so that they can learn how to better manage their money as they get older. If you want your teenagers to manage their money more effectively in adulthood, then they absolutely have to learn the investment basics now.

Start training your teen about money.

It is your responsibility as a parent to begin training your teenage children to use their money more wisely now while they are listening. Here are some of the things that you can do to teach your children how to save and invest wisely so that they can have some money left over at the end of the weekend following payday.

1 – Lead by example!

This seems simple but it has an extraordinary impact. Your children are going to look at how you spend money and act accordingly. If you show them how you allot money to different purposes for household needs, bills and budgets, they will learn how to do the same over time.

2 – Help open a bank account for your teen.

Establishing a bank account for your teenager will allow him or her to have instant financial responsibility. Sit down with them and explain how they can manage their own account, and take a moment to talk about the rewards that can be received once they have saved enough money. These savings, for example, could go toward their college tuition or even to purchasing a car. The entire process of saving and earning will give them a significant sense of accomplishment, and they will have something concrete to show for their hard work and dedication to saving and investing wisely.

3 – Construct a spending plan for your teen.

Teens tend not to like the idea of budgeting, but you should not allow them to get by without a budget or a spending plan just because they don’t like the idea. Instead, you and your teenaged son or daughter should sit down and build a spending plan that will help them get excited about the idea of earning, saving and investing their money. Take the time to teach them the differences between what they need and what want, and what things are worth saving for. Once they know what they can do without, it becomes easier for them to save their money for investing.

Photo Credit: 1

Originally posted 2008-11-12 05:57:23. Republished by Blog Post Promoter

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Tags: adulthood, billions of dollars, budgets, college tuition, enough money, financial responsibility, household needs, investment basics, Investments, kids these days, money management, parents, part time, purchasing a car, rewards, summer jobs, teenager, teenagers
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To Borrow or Not to Borrow against a 401K

Wednesday, March 10th, 2010

Question -

Because of the credit crunch, is this a good time to consider borrowing against a 401(k) savings as a means of paying off other loans? My current 401(k) planning investment return is 5 percent, and the interest I will be paying on it is 9 percent.

To borrow or not borrow against a 401K.

Answer -

If you only really consider the numbers in the situation, taking out a loan against your 401(k) in order to pay off a high interest credit card or some other higher interest debt may seem like a no brainer decision. This is because you would be paying yourself back the interest by paying back a 401(k) loan, but with credit card debt or a high interest loan you would be paying as much as 15 percent or more straight to the bank. Plus in today’s market, the 9 percent that you speak of is more than you would make if you were just keeping the money to sit in your account.

With that said, however, most 401k planning experts would shudder at the mere idea of raiding tomorrow’s intended nest egg to fund the financial indiscretions of today. This kind of thing may work out in terms of pure numbers, experts will gladly agree, but that does not make this a good idea, or even one worth putting consideration into. Financial planners generally agree that there are a number of concerns to touch on before you ever make a decision as large as this one, for example:

What if you leave your company?

If you leave your company for any reason at all, you generally only have 30 days to pay back the entire loan in full; otherwise you will have to pay ordinary income taxes on the withdrawal along with a 10-percent IRS penalty, assuming you are under the age of 59 and a half.

The bottom line here is that this is a pretty foolish move in most if not all situations, even if you are desperate to pay off a high interest credit card or some other high interest debt that has been accrued. If you are likely to rack up more debt in the process, have concerns relating to job security, or are paying off loans that are tax deductible or low interest, then this is definitely a foolish way to go. On the other hand, there are scenarios where this could allow you to come out financially ahead, but they tend to be few and far between. If you’re not sure, then it would be wise to sit down with an investment advisor or financial advisor who can help you weigh your options.

Before you take out any loan you should sit down with an expert that can help you review your choices. You just may discover that there is a better, less risky and less costly option that you have not yet explored for this particular situation.

Photo Credits: 1

Originally posted 2008-11-10 20:58:13. Republished by Blog Post Promoter

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Tags: 401 k, bottom line, brainer, credit card debt, credit crunch, financial planners, foolish move, good time, high interest, income taxes, indiscretions, interest credit card, interest debt, interest loan, investment return, irs penalty, job security, nest egg, s market, straight to the bank
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Loanio Roundup – Congratulations President-Elect Obama

Tuesday, March 9th, 2010

President-Elect Obama

Loanio extends its congratulations to President-Elect Obama for running an excellent campaign.

This week’s edition of Loanio’s roundup takes a look at the election and what it means for the economy. What are your thoughts to the issues? We’ve also included several links for business entrepreneurs and on p2p lending for your weekend reading.

The Economy and the Election:

The American Banker says Election Results Impact Banking Committees.
Kiplinger presents these 5 Lessons From the Emerging-Markets Meltdown.
FT proclaims Markets sceptical on value of G20 meeting
Market Watch talks on taxes and says Year-end planning a little more urgent
Top challenge: Jobs explains CNN Money.
Stocks plunge anew as recession worries resurface writes Yahoo! Finance.
Business Week posts Wall Street’s Election Letdown

Small Business:

Small Biz Survival posts Small Business is Driving, Now.
Why it’s a great time to be a small business owner writes Make Mine Pink.
Here are Top 5 Ways To Help Your Small Business Thrive During A Down Economy by Pay Simple Blog.
Here are some Hispanic Small Business Grants at Hispanic Grants.
Pro Media Blog writes Email Newsletters & Email Strategy for Small Business & Home Offices
Bplans says learn How to write a business plan.

Peer-to-Peer Lending:

Diversity Blogs publishes Banking 2.0 (Or At Least a Start)
The Credit Infocenter blogs Prosperity of Person-2-Person Lending in Jeopardy
Here’s a post on P2P Innovation & the credit crunch by the Better Banking Blog.
NPR on Peer Lending Spreads In Tight Credit Market
Student Lending Analytics writes Peer to Peer Lending With a Twist: People Capital

Loanio in the News:

Free Signal posts P2P Lender Prosper Closes Marketplace to Lenders; Loanio Unaffected for Now

Photo Credit: 1

Originally posted 2008-11-09 05:33:00. Republished by Blog Post Promoter

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401k Planning

Friday, March 5th, 2010

Most people have questions when it comes to 401k planning and retirement. These people often wonder what 401k planning is, how 401k planning works, and how a dwindling balance can be revived. 401k plans can be complex, but they can also be quite easy to understand with a little bit of preparation.

What is 401k Planning?

A 401k is a retirement plan sponsored by an employer. Employees can contribute some of their income to their plan before taxes. The maximum amount of the contribution can be limited by the plan or by the federal government. Once the employee goes into retirement, their distribution is going to depend on how much the plan has grown over time. Because of this, employees should choose their investment choices carefully. Once they begin to take distributions, the withdrawals will be taxed. If the money is withdrawn before the employee reaches the age of 59 and a half, then there will be a withdrawal penalty.

Plan for your retirement.

How does 401k Planning Work?

If a company does offer a 401k retirement plan, then the employee usually has some option to select their investment funds based on a list provided by the 401k planning company. The employee’s contribution is going to be deducted automatically from the employee’s paycheck before taxes are taken out. Each employee is allowed to contribute up to a certain percentage, and some employers will match this percentage. The contributions that are made along with matching funds are invested into the employee’s funds. Sometimes loans can be drawn out of 401k plans, and some hardship withdrawals are also permitted. There is also a vesting period where an employee must be employed for a defined number of years before the money in their account is actually their own.

How is a declining balance repaired in 401k planning?

The first thing that you should do in order to address a declining balance is to look more closely at the investment mix that you are working with. If you invest too heavily in company stock, this can cause significant problems if the company ever faces financial troubles. Contributions should be adjusted in order to make the most out of contribution limitations, and the maximum tax deferred contribution should be made whenever possible. At the very least when this is not possible, employees should contribute enough to gain matching funds from the company.

How can a 401k portfolio be best balanced?

Balancing your 401k planning portfolio is important because it shows you whether or not your investments are on track with your game plan for retirement. If you are wondering whether or not you need to rebalance, it may be time to consider your goals, your risk tolerance and any other concerns that you have alongside a financial advisor. Some of the things that will dictate the next steps in your 401k planning process include age and how close you are to retirement. Your 401k planning process will involve investments for growth and investments for income.

Photo Credits: 1

Originally posted 2008-11-05 05:09:37. Republished by Blog Post Promoter

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Tags: 401k retirement plan, company stock, distributions, federal government, hardship withdrawals, investment choices, investment funds, investment mix, little bit, loans, matching funds, Money, paycheck, planning company, vesting period, withdrawal penalty
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Loanio Roundup – Dia de Los Muertos

Tuesday, March 2nd, 2010

Financial State of the Economy

Good morning and welcome to the Dia de Los Muertos edition of Loanio’s roundup. Dia de Los Muertos is a holiday celebration that takes place primarily in Mexico and celebrates the dead. It goes by Day of the Dead in English and correspondingly it matches the Catholic holidays of All Saints Day and All Souls Day. Below you will find links in easy to manage categories on the following topics: the economy, small business, p2p lending, and Loanio. See what people are saying and have a great day.