Five Steps to Assessing Your Retirement Financial Readiness

Five Steps to Assessing Your Retirement Financial Readiness

"Do I have enough money to retire?" As the wave of boomers approach retirement, this is the question on the minds of many. But, how do you find an answer to this most important, but complex of questions? Will a refrigerator crate over an urban heating grate be your version of "condo living" in retirement or will you thrive? There is a lot written on this topic, but how do you put the pieces together to get an answer for you?

As I have attempted to come to grips with this issue in my own retirement planning, I have identified five steps. Follow these steps and you should have a sense of whether you have the financial resources to retire:

STEP # 1: Determine your retirement income:

- Social Security: The Social Security Administration can provide an estimate of your retirement benefits. Get an estimate of your benefits at the ssa.gov/estimator/ website.

- Pension Benefits: Pensions are becoming less frequent these days. If your current employer offers a pension plan, contact your Human Resources Department for an estimate of benefits at your proposed retirement date.

- Retirement Savings: If you have retirement savings in a 401K, IRA or the like you will need to estimate the balance at your proposed retirement date. Savings forecasting tools are available on-line.

- Post-Retirement Income: If you are anticipating working in retirement or plan to start a home-based business, you should estimate the annual income you may derive from this.

STEP # 2: Estimate your expenses in retirement:

- Expenses: The general belief is that expenses will decrease in retirement, although this is dependent on individual spending patterns. Start with your anticipated income just before you plan to retire. Estimate your current expenses. If you use personal finance software such as Quicken, this should be easy. Then for each major spending category such as food, housing, taxes, etc., estimate what they will be in retirement. Some categories of spending may go up, such as entertainment and healthcare. However, some will go down. For example, you will not be contributing to a 401K or IRA when you retire. You will not have Social Security or Medicare taxes coming out of your check if you do not work. Your state and federal taxes should decrease. If you downsize your residence, your housing expenses such as utilities and property taxes should decline.

- Relocation: If you are planning to relocate to a different city when you retire, the cost-of-living in the new location may increase or decrease compared to your current residence. To get a handle on the cost-of-living in your new location compared to your current residence, go to one of the many on-line cost-of-living calculators.

STEP # 3: Estimate the unknowns:

- Inflation: Inflatement affects your cost-of-living. We do not know with any certainty what it will be in the future. However, one good bet is to use the long-term average between 3.2% -4.0%.

- Investment Returns: Unless you plan to draw out your savings in retirement and stuff it in a mattress, you should earn a return on the balance. It is difficult to provide a specific percentage because it will vary with your mix of investments. However, you can research the internet for guidelines on the historical returns for each investment class you own and do an estimate of the returns you can expect.

- Lifespan: How long will you live in retirement? In other words, how long must your savings last? For an estimate of your expected lifespan, go to http://www.livingto100.com and complete the on-line questionnaire.

STEP # 4: Bring all of the information you have gathered together to get an estimate of how well you are financially positioned for retirement. Typically, you will search out an on-line retirement financial calculator. Retirement financial calculators are very useful for assessing your financial readiness. However, the more accurate your assessment of your retirement income, expenses, and the unknowns, the more reliable the results. Do not be overly optimistic. In this case, hedging your bets (being a little pessimistic) will probably work better for you. Also remember, as the requirements change such as when you would like to retire, your savings balance, your social security benefits, etc. you should reassess.

STEP # 5: Consider the concerns. Many on-line retirement financial calculators have relatively simple outputs. You put in your numbers and they come back with a specific number of years your savings will last. However, the reality is that given the uncertainties a specific number is likely to be inaccurate. The more sophisticated financial calculators use a statistical procedure known as "Monte Carlo" to estimate retirement financial readiness. Monte Carlo changes the question from "how long will my retirement savings last" to "what is the probability that it will last for various time periods. For example, what is the probability that your savings will last for 20 years, or 24 years, etc.? There are no assurances in the world. This is a much more realistic way of assessing your financial health.

Retirement financial planning can be complex and a little daunting. However, if you follow the five steps, you should be on better footing to answer the question of your retirement financial readiness.

Best 32 Inch LCD TV - Experience Great Fun and Entertainment

Best 32 Inch LCD TV - Experience Great Fun and Entertainment

The 32 inch LCD TV is one of the best televisions that have stolen many hearts. Its slim design, high resolution picture and amazing audio quality make this a must have HDTV. These LCD television has tremendous features, are visually and aesthetically appealing and are perfect in terms of its sensible price combined with its long list of delightful features. You can avail the best 32 inch LCD TV from various legendary brands such as Samsung, LG, Panasonic, Hitachi, Matsui, Sony, Philips and many more. There are dozens of websites available that will help you to find one of the best LCDTVs for you. It sees there is more than one choice for best 32 inch LCDTV and therefore, the customer has lots to choose from.

One such best 32inchLCD TV is the Matsui ELCD32USB 32 "LCD television .It is a fully high-definition LCD television that is packed with equally superb picture and image quality that is almost similar to its larger-sized sibling units. : 1 contrast ratio, built-in digital TV tuner.The Matsui ELCD32USB 32 "LCD TV also boasts excellent connectivity with two HDMI ports included for connection with high definition devices such as HD camcorders, game consoles, and Blu-ray Disc players. In addition, a PC input allows you to use this great-value TV as a computer screen.

Many of the newer LCD have many adjustment options within itself that allows you to create perfect viewing experience in your homes by changing a few settings. The good news is that LCD flat panels are becoming lighter and easier to mount on the wall if you wish. They are thinner than ever and in the near future you can see all TVs mounting on walls through homes.

The other best 32inchLCD TV is the Samsung LE32B450C4WX. It provides quite incredible features comprising fine display, high resolution, in-built free view capability and Electronic Program Guide. With Samsung LE32B450C4WX, you can be sure that your TV's picture is just the way you like it. You can visit 32inchLCDUK to avail the gorgeous 32 inch LCD TV.

Major Facts About Partnership And Business

Major Facts About Partnership And Business

A partnership can be defined as an association of two or more persons who have agreed to combine their labor, property, and skill, or some or all of them, for the purpose of engaging in legal business and sharing profits and losses between them.

Partnerships present the involved parties with special challenges that must be communicated before agreement. Overarching goals, levels of give-and-take, areas of responsibility, lines of authority and success, how success is evaluated and distributed, and often a variety of other factors must all be negotiated. Once agreement is reached, the partnership is typically enforceable by civil law, especially if well documented. Partners who wish to make their agreement affirmatively explicit and enforceable typically draw up Articles of Partnership.

A partnership is particularly very attractive if it helps to pool the talents or skills of partners for their mutual benefit. Partnerships require individuals who are compatible, honest, healthy, capable, dedicated and equally motivated to succeed. And because of the voluntary nature of partnerships, they are reliably easy to set up.
The term business in this definition includes every trade, occupation, and profession. Therefore, this article becomes very necessary for every individual to have the idea of ​​bargaining / planning and negotiation in any kind of business level.

Humans are social beings, partnerships between individuals, businesses, interest-based organizations, schools, governments, and diverse combinations thereof, have always been and remain commonplace. In the most frequently associated instance of the term, a partnership is formed between one or more businesses in which partners (owners) co-labor to achieve and share profits and losses. Partnerships exist within, and across, sectors. Non-profit, religious, and political organizations may partner together to increase the likelihood of each achieving their mission and to amplify their reach. It is sometimes regarded as alliance, governments may partner to achieve their national interests.

A partner acts as an agent of the firm in the conduct of its business. A partner must, however, exercise the highest degree of good faith in all transactions with the other partners, devote time and attention to the partnership business, and must account to the other partners for any secret profits made in the conduct of the partnership business. The liability of a partner for partnership debts is said to be unlimited, except when the partner is a limited one in a limited partnership organized in accordance with the provisions of a state statute permitting such limitation of liability.

FORMATION OF PARTNERSHIP
A partnership comes into existence by a contract entered into by the parties concerned. No formality is required but the agreement could be writing, incomplete from conduct or oral. The agreement to form a partnership is known as a "Partnership Contract", the most important provision of which spells out the manner in which profits are to be distributed.

Partnerships are governed by the law of contract. It is advisable for individuals who wish to form a partnership to draw up what we called "Articles of Partnership". The article of Partnership essentially contains these items below:
• Name of Partnership
• Name and Addresses of each partner
• Statement of Business Purpose (s)
• Duration of the Partnership
• Name and Location of the Business
• Amount Invested by Each Partner
• Ratio for Sharing Profit
• Accounting Records and their Accessibility to Partners
• Specific Duties of Each Partner
• Provision or the Dissolution of Partnership and Sharing of Net Assets.
• Provision for Protection of Surviving Partners, Decedent's Estate, etc.
• Restraints on a Partner's Assumption of Special Obligations.

TYPES OF PARTNERS
There are five types of partners:
1. Active Partner: - This is the partner who participates in all the activities of the partnership.
2. Dormant or Sleeping Partner: - This is the partner who does not take an active part in the activities of the partnership but shares in the profit.
3. Nominal Partner: - This is a person who lends his name to a lends his name to the partners for a consideration.
4. Secret Partner: - This is a partner who takes an active part in the affairs of the company but he / she is not known by the public as part of the partnership.
5. Silent Partner: - This is a partner who is known by the public as part of the partnership; but he / she does not take an active part in the management of the enterprise.

ADVANTAGES OF PARTNERSHIP
1. Greater Source of Capital: - The pooling of the individual resources of each partner helps to raise a large capital. It makes it possible for an individual with the know-how, new product, invention, or new idea but no money, to work with man with money who is interested in the project.

2. Greater Specialized Management: - The ownership of a business by two or more people makes it possible for them to pool their skills and judgment for the benefit of all concerned.

3. Greater Incentive for Employees: - Employees in partnerships tend to enjoy better fringe benefit package and higher salies. They have better prospects for earned recognition and promotions.

4. Legal Recognition: - There is a partnership law that regulates the relationship between partners themselves, and between the partners and their parties that they have to deal with.

DISADVANTAGES OF PARTNERSHIP
1. Personality Clashes: - Partnership require cooperation, trust and dedication but failure on the part of one of the active partners to discharge his / her own responsibilities that could have led to personality clashes and to the end of the partnership. Partnerships are known to have ended because the members could not agree on the best course of action to take on an important issue.

2. Difficulty in Withdrawals: - The contribution of each partner ceases to be the property of the individual making the contribution. When a partner needs money, he / she can not withdraw his / her contribution or borrow money from the partnership without the express permission of the other partners. Many entrepreneurs dislike this lack of flexibility characteristic of partnerships.

3. Unlimited Liability: - Each partner is held liable for the obligations of the partnership. If one of the partners makes a costly mistake in the execution of the affairs of the partnership, creditors can sue, and if they obtain judgment against the partnership, each partner may have to sell his / her personal assets to meet the obligations.

4. Short Length of Life: - Factors like, death, prolonged ill-health, withdrawal, bankruptcy, insanity or of sorts could lead to the end of the partnership.

Conclusively, governmentally recognized partnerships may enjoy special benefits in tax policies. Among developed countries, for example, business partnerships are often favored over corporations in taxation policy, since dividend taxes only occur on profits before they are distributed to the partners. However, depending on the partnership structure and the jurisprudence in which it operates, owners of a partnership may be exposed to greater personal liability than they would as shareholders of a corporation.

Should You Invest In Cellular Phone Repair Or A New Phone?

Should You Invest In Cellular Phone Repair Or A New Phone?

Just like any piece of technology, cell phones can occasionally break or malfunction. This leaves many consumers wondering what their options are for cellular phone repair. These depend primarily on whether the device is under warranty and what the defect is. Here are some steps to help you determine how to repair it, or if it is worth repairing.

Troubleshoot The Issue

If the problem seems to be with the software of the device, such as the phone freezing or not displaying menus correctly, the issue can sometimes be fixed without having to repair it. Try restarting the phone or resetting it to factory default settings. You can call the manufacturer's support line for troubleshooting tips.

Determine If The phone is under warranty. Unless you benefit from an extended warranty, the industry standard warranty for cellular phones is 1 year from purchase. Take note, that most warranties do not cover things such as physical or liquid damage. If your phone is under warranty, contact your service provider or the phone's manufacturer to see how it can be serviced.

For Out Of Warranty Phones

If it is not covered by the warranty, do not despair, there are still some options available for cell phone repair. The only difference is that you will have to pay for the cost of repairs. You should first try calling the manufacturer to see if they have any options for repair or replacement of out-of-warranty devices. Some companies, such as Apple and BlackBerry, can sell you a refurbished phone of the same model if you send in the one which is defective. The cost is far lower than purchasing a new phone.

You can also check the internet or local business directories for some independent cell phone stores that provide cellular phone repair services. Or, if you have experience working with electronics, you can often make the repairs yourself by ordering replacement parts online. For example, if your screen is broken, you can buy a new screen for your phone and install it yourself.

While there are many options available for cellular phone repair, there is one important thing to consider if your phone is not covered by the manufacturer's warranty. Try to determine whether it will be economically worth it to get your phone fixed. In certain cases, the cost of parts and labor would exceed the value of your phone. Obviously, you would be better off buying a new unit in that case.

The Role of Online Marketing for Small Business

The Role of Online Marketing for Small Business

Small businesses may feel that they need to be more limited, and more prudent with their resources. However, it is more important for the small businesses to make themselves more visible and give themselves a voice. While several of the different media that are available may prove rather expensive for them, online marketing is among the most economical and effective ways for small businesses to promote themselves. Here is the role of online marketing for small businesses.

Having an online marketing plan will help you reach out to a larger section of the public. Most marketing and communication initiatives find themselves constricting you in terms of their location or their scope, while the internet is truly limitless. Being able to explore and expand on the internet is a wonderful way for you to achieve high goals with little expense.

Not every marketing strategy can help you showcase all your strengths. This is something that is made possible with online marketing. It is not just possible for you to allow your company a chance to be noticed, but also a platform where you can put out all your offers and showcase them to your liking.

It is despite the single most effective tool when it comes to evaluation and feedback. It is easily traceable and accurate, and the returns that you can achieve can be measured most easily. This is a good way to not just monitor all that you have done for the business, but also a wonderful insight that can help you modify your marketing plan to become more effective.

Your online marketing plan can work for you across boundaries and time lines. It continues to be operational while you have closed down for the day, and also visible regardless of geographical boundaries. Extremely simple to plan for and execute, online marketing can actually enable you to achieve many goals within one simple endeavor - being it informing, showing and guiding people all at once.

Most conventional streams of marketing are extremely expensive and can set you back by a significant amount. For smaller businesses, this can be a price which is too heavy to pay. However, using online marketing as a tool can most often help you reach the same ends without having to spend as much. With the growth that can be achieved by the use of it, other channels can then be used to supplement your marketing plans.

The Promising Future of Google Buzz

The Promising Future of Google Buzz

Google has launched a new widget called Google Buzz for iPhone or Android phones which helps the Google users to update their status and share photos, videos, and content with their friends. You can post buzz about a party you attended and share photos of the event. The posts will upload in the background automatically. One interesting feature about android is that some programs help us use home screen widgets for easy access.

The popularity of Google buzz has been increasing day by day. We can connect with our friends' right on Google's Gmail home page. Google buzz is based on the idea of ​​collaboration, and that is the vital point of emphasis for many social networking sites moving forward. It has been designed to collaborate with other Google applications and tools.

It may take time for Google buzz to create a buzz because many people do not have the same network size like the ones established in other social networking site. Google Buzz can provide a great marketing platform by checking into the business locations and informing the followers regarding our business details. All the problems related to privacy issues will become viable once the Google Apps version is introduced. I have been "buzzing" since the very first day of its launch. Google will definitely emerge into a ubiquitous and invincible force financially and socially, in view of fact that it always brave prime importance to the users. Lastly I would like to say to all users to actively participate in BUZZ and feel the difference.

Will Python Replace Java?

Will Python Replace Java?

According to the most recent study, Java is currently more popular than other programming languages ​​including Python. Likewise, according to the latest usage statistics posted on a popular Technology Survey site, Java is being used by 3.0% websites as a server-side programming language, whereas only 0.2% of websites use Python. However, many reports have heightened that the usage and popularity of Python is growing consistently. So it becomes essential for programmers to understand some of the major differences between these two popular programming languages.

Understanding Important Differences between Java and Python

Both Java and Python are general purpose programming languages. While the former is a static typed language wherein the programmers have to declare all variable names explicitly, the latter is looked up as a dynamically typed language where developers are not required to declare variable names explicitly.

Java requires developers to write longer lines of code to accomplish common programming tasks. They also have to put in additional time and effort to organize, maintain and update the Java code base. On the other hand, syntax of Python enables developers to express concepts without writing longer lines of code. It further emphasizes on reusable and readable code generation. Thus, it becomes easier for programmers to maintain and update the code base.

Both the languages ​​have been updated on a regular basis. The programmers can use Java 8 to avail a number of new features including lambda expressions, a new date / time API and a new functional interface. They can further switch from version 7 to version 8 of the programming language without any hassle. But developers often find it daunting to choose between Python 2.x and Python 3.x. Both the versions are being maintained in parallel and since switching from Python 2.x to Python 3.x is found to be challenging.

Java makes it easier for programmers to create portable cross-platform applications. These applications can run on any device on which Java virtual machine (JVM) is running. On the other hand, the developers have to use a Python compiler to convert the code written in Python into code understood by the specific operating system. As JVM is installed on many devices, the developers can run Java applications on various devices without requiring any specialized tools and compilers.

The performance and speed of the two programming languages ​​differ. Many programmers have proved that Java is faster than Python. While it can not be used to accomplish CPU-intensive tasks, developers often have at their disposal, a number of options to enhance the execution speed of Python. They have to replace Python's default runtime with CPython, PyPy or Cython to increase the execution speed significantly. On the other hand, the performance of the Java application can be easily optimized without using any additional tools.

Along with being a popular web technology, Java is also used widely for developing apps for world's most popular mobile operating system, ie, Android. The Android SDK includes a number of standard Java libraries. The developers can easily create Android apps by taking advantage of networking, data structure, graphics, and math libraries. They can even avail a number of tools and frameworks to speed up Android app development. But those into Python development know that it can not be used for mobile app development directly and exclusively. The developers have to use additional frameworks and tools to use it for mobile app development. Many programmers prefer developing mobile apps with Java to save both time and effort.

A number of reports have highlighted a steady increase in the popularity of JVM based languages ​​like Scala. The modern age JVM languages ​​are designed with features to help programmers to write concise, reusable and maintainable code within a shorter amount of time. Many programmers prefer these JVM languages ​​to Java to reduce the amount of time and efforts required for building and maintaining a variety of modern applications.