The Best Retirement Calculator

Wisdom is needed when making choices in life? especially when making financial choices! Most people will be making constant choices as they put together a money management portfolio to make sure they generate an income and give their loved ones peace-of-mind with insurance contingencies. Your portfolio, for example, may need to include insurance, investments, tax planning, estate planning, as well as retirement strategies. And you just might be shocked to learn that a financial portfolio can be bolstered with a UK secured loan.

It sounds strange, but for some people its absolutely true! In fact, many people are looking to UK secured loans to strengthen their financial position. But you cannot just go select the first loan that comes your way. There are three things you should look for when selecting the right UK secured loan to add to your financial portfolio.

The first thing you should look for is the amount of money you need. By shopping around, you may be surprised at how much money is available from lenders to people like you who are looking to add some muscle to their money. You should look at your budget as well as the amount of money you need to help you determine how much of a loan you should get.

The next thing youll want to look at is the repayment frequency. Is the loan supposed to be paid back every week? Every two weeks? Every month? For some people, the best option is to match the loan repayment with their payday schedule so that they can be assured that there will be money in the bank when its time to pay the loan down. One option some people are choosing is to set up a monthly repayment schedule but put more money down (perhaps once a week) which will get applied directly to the principal! Often, the repayment frequency will determine the amount due with each payment, so that may be a factor in helping you decide the repayment frequency. Perhaps a large, monthly payment is more difficult to make than several smaller payments in a month. Youll have to decide the best option for you.

The last thing you need to consider is the interest rate. Many people simply ignore this completely because they feel that they have little control over prevailing rates at the time of the loan. However, with a little work and wisdom, you can manage your interest rates quite well. For example, some of the things you can manage when it comes to interest rates include the risk level of the recipient, the amount of money borrowed, and the period of time in which the money is expected to be paid back. Prevailing interest rates will determine the window of interest rate available. It is up to you to find the best rate for you.

Now that you know the three things you need to look for, it is time to go out and find the right UK secured loan for you. Be sure to shop around and you choose wisely from the selection you find.

When Can I Retire Calculator

So you need some money for unexpected expenses. The roof took on a leak, the deck rotted through and a new family addition tightened living space. You bought too much Christmas on credit now the bills are overwhelming. Junior got accepted to that Ivy League school. Tapping into your home equity can help ease your financial burden. Before deciding on borrowing ask yourself a few questions first.

  1. Do I need a home equity loan or a home equity line of credit?

    If interest rates are low, a loan is a smarter choice. You can borrow the full amount at once and get a fixed rate on the entire amount. The advantage allows you to know how much to budget for monthly payments.

    On the other hand, a line of credit will let you borrow from a revolving line of credit with variable interest rates. You access the money just like a checking account by writing a check for the purchase. Then the amount used is paid back. If the rates fluctuate, your payments will also.

  2. Are there restrictions on how I use the borrowed money?

    Most loans and lines of credit can be used for a variety of things. Whether you want to consolidate all your debts into one, do some home improvements or pay for college tuition, an equity loan or line of credit can be the answer.

    Be sure to ask yourself if you can afford the extra payments. Is your budget flexible enough? Will adding another payment wont over-extend a tight budget?

  3. How do I find the best interest rate?

    Your best bet to determine the variety of interest rates offered by financial services companies is to shop around. Ask questions. Try to find a company your comfortable doing business with. Look for ones that dont charge application fees. Ask about charging a penalty for early payoff.

  4. What is the term of the loan? Is it better to get a 5- 10- or 15 year term?

    Youll want to determine what your financial future strategy is when deciding on the term of the loan. If youre planning to retire soon, you may want to ask for a shorter term. The longer your loan terms, the lower your monthly payments.

  5. Are there any tax advantages to borrowing with a home equity loan?

    There are many good tax advantages to home equity loans and lines of credit. The interest is tax deductible on your federal income tax. Be sure to consult your tax adviser before applying for a loan to be certain of the deductions.

  6. Is the loan application lengthy and how long before I get an answer?

    More and more lenders are allowing consumers to apply for loans over the phone or on the Internet. It can take as little as 10 minutes for the application process. And many pre-approvals can be delivered in a few hours. Final approval often takes any where from 5 to 10 days while evaluating your house is taking place. Often the entire process can be completed without leaving your home with final documents and checks being sent through the mail.

Tapping into your home equity to ease financial burdens can be a good idea. Do your homework. Shop around. Set up your budget. Use the money for what you need.

Registered Retirement Savings Plan

Refinancing education loans can be so simple and attractive that many borrowers tend to overlook some critical points about student loan refinancing. Sometimes what you dont know can save you a great deal of money, time, and frustration. Below youll find a few little know facts that can save you big bucks when refinancing your education loans.

Consolidation Loans have a fixed interest rate versus a variable interest rate

Most education loans have a variable interest rate which can mean significant changes in the monthly payments if interest rates increase as they did on July 1st, 2006. With a fixed interest rate, the monthly payments and total payoff balance is a set amount. Some education loans such as the Perkins Loan and the HPSL (Health Professionals Student Loan) are fixed rate loans. Before consolidating its important to weigh the repayment benefits of rolling these kinds of loans into the consolidation.

Consolidation lenders vary significantly in terms of money-saving incentives

What separates one lender from another when it comes to consolidating education loans are the types of incentives each offers. Lender incentives can greatly reduce monthly payments and the total amount owed over the lifetime of the loan. Many lenders offer incentives for auto-debit payments, but rarely more than .25%. Another standard incentive is a 1% reduction in interest rates after 36 months of on-time payments. When shopping for a lender to consolidate your education loans, look for one that goes above and beyond these standards. ScholarPoint for example, offers an auto-debit interest rate discount of .50% and a 1% reduction in interest after only 24 months, a full year earlier than the norm.

Your loans must be current in order to consolidate education loans

If youre behind on your loan payments, youll need to get caught up before refinancing. Once you refinance, youll most likely enjoy much lower monthly payments to ease your budget once you are caught up.

Private education loans and federal education loans cannot be combined when refinancing

While federal student loans are funds lent by the government, private student

oans are those offered by independent lenders and tend to have a higher rate of interest. Those who have both types of education loans will need to secure 2 different consolidation loans. Its best to consolidate federal education loans first and then start the process of consolidating your private education loans. You can however, consolidate federal subsidized and unsubsidized loans together. They do need to be tracked separately, but a quality lender will take care of this for you.

Your deferment and forbearance limits start over when you consolidate

One of the most important benefits of education loans is that they allow students to put their loans in to deferment or forbearance status during difficult times encountered while building their careers. When you refinance, you are essentially getting a whole new loan, meaning that your deferment and forbearance limits are reset.

Consolidating during the post graduation grace period allows you to lock in the lowest rate

Interest rates during the grace period (6 months after graduation) are .60% lower than after the grace period when loans move into repayment status. Consolidating before the grace period is over helps to lock in this much lower interest rate. Its best to start the consolidation process soon after graduation to ensure that there is adequate processing time. You can specify that your new consolidated loan begin at the end of your grace period so that you may enjoy both benefits.

Borrowers can no longer reconsolidate student loans

For many years, borrowers have had the opportunity to reconsolidate their education loans if they were unhappy with their lender or found a better loan offer elsewhere. As part of the Federal governments July 1st 2006 student loan changes, borrowers now face major restrictions when it comes to finding a new lender for already consolidated loans. Unless you plan to take out new loans that would allow you to reconsolidate, it pays to shop around and find a lender you are going to be happy with because you only have one opportunity to consolidate.

Refinancing education loans is one of the easiest ways to lower monthly bills and make paying back your college education affordable. Keeping these little known facts in mind can save you a great deal of money and make consolidating your education loans a smooth and simple process.

Retirement Funding

Do you need an online personal loan, but dont have time to drive all over town looking for the best rates? Do you absolutely abhor waiting in long lines that seem to go nowhere? If this sounds like you, then an online personal loan may be the answer.

The World Wide Web has become a wonderful option for people needing to secure an online personal loan. What could be easier than filling out a few simple forms online, waiting for an email response, and then cashing the check? Online personal loans afford many people the luxury of searching for, and obtaining an easy personal loan while relaxing in their own home or office.

When you find yourself in need of an online personal loan, be sure to check with your own banking institution, as many brick and mortar banks now offer a majority of their services online. A bank with which you have already formed a relationship may be able to offer you a prime interest rate. Be sure to conduct a bit of research before signing on the dotted line to insure that you are receiving the best rate possible for your online personal loan. The time spent doing this is well worth it.

In order to expose yourself to a wealth of information concerning personal loans, use one of the major search engines on the Internet. By using the Google search engine and typing in the search phrase “online personal loans,” you will be given 221,000 different pages of information. These pages will also contain links to even more information regarding online personal loans. Online, easy personal loans have become very popular these days, and this has forced many of the institutions offering personal loans to lower their rates in order to compete for business with fellow institutions.

Some financial institutions will even make the fax machine obsolete in the process of applying for an online personal loan. Instead of using the fax machine to obtain signatures on documents, many lending institutions have incorporated electronic signatures into the process of applying for an online personal loan. This allows the process to be completed 100% online. Using electronic signatures also speeds the review process up, which means you may be able to have access to your funds in a timelier manner than the conventional way allows.

By being diligent in your search for information, you will be able to find the perfect, online personal loan that fits your current funding needs.

My Retirement Future

Home, a place where you live together with your close and loved ones, may mean the whole world to you. You always wanted to make your home a better place to live, giving all comforts to your family. You can do this just by making improvements in your home, but where to get the funds for it. Home Improvement Loan is the solution to your problem.

Home Improvement Loan is a loan that is granted to borrowers to make changes or improvements in their home. A home improvement loan is good if you dont want to use your savings or dont have sufficient savings for the home improvement project.

Home Improvement Loans can be used to purchase fitted bedroom furniture or to develop unused spaces in your home. You can use Home Improvement Loan for improving your garden such as landscaping. Home Improvement Loan is also available for double-glazing, new conservatory, heating system, new kitchen, rewiring and plumbing or any home remodeling that you can think of. Making improvements in your home helps in improving your lifestyle as well as may add value to your home.

Home Improvement Loan can be classified as secured and unsecured Home Improvement Loan. A Secured Home Improvement Loan is a loan secured by borrowers collateral such as house, car or bonds. You can borrow any amount between $5,000 to $75,000 A Secured Home Improvement Loan can be repaid at any term between 5 to 25 years depending on income available with you and the amount of equity in the property kept as a security with the lender. You can get Home Improvement Loan up to 125% of property value. A secured loan offers flexible repayment options with low rate of interest.

Unsecured Home Improvement Loan is a loan that requires no collateral to be kept as a security with the lender. The rate of interest on loan is higher as compared to that in secured loan, as there is no security attached to this loan.

You can get a Home Improvement Loan from banks and financial institutions. Now, you can also get a Home Improvement Loan online. You can collect loan quotes from various lenders which is available free of cost. Make a comparison among the various quotes and shortlist the few you find suitable. Try to find out more details about the short listed loan options and choose the one that you find the best. But dont haste, relax and shop around make some efforts. Your efforts will definitely repay you in future by saving your money.

You can also tie your home improvement loan into the existing mortgage package, which will benefit you with lower rate of interest and help in releasing the money you needed for the home improvement project.

You can get a secured Home Improvement Loan even if you have bad credit rating, poor credit history, CCJs, defaults or arrears. Your bad credit history cant stop you from making desired improvements in your home. You can avail a bad credit home improvement loan that is designed specially for you.

Home Improvement Loan is the loan granted for making changes or improvements in the home such as new kitchen or decoration. It helps in making your home a better place to live for your whole family. Home Improvement loan may help in add value to your home by the significant improvements you intend to make. When searching for a home improvement loan, Shop around and compare the quotes of various lenders, your these efforts will help you find the best deal.

Retirement Preparation

It never fails, just when finances are their tightest it seems that something turns up. The car breaks down, the dishwasher stops washing or the kids need a tooth taken care of. It can be hard enough to stretch the family budget to make ends meet, and then add in an unexpected expense and soon you can find yourself with a serious cash crunch and payday is nowhere in sight.

Each year, millions of people take advantage of payday loans from a relatively new industry that was formed to help solve a problem the big banks couldnt (or wouldnt): loaning small amounts of money to people for a very short period of time. Traditionally, small loans (typically anything below $5,000 in the banking industry) simply were not profitable. Payday loan companies came along to help fill that void and provide a quick, convenient and easily accessible service to fill the niche that the big banks wouldnt touch.

Everyone at one time or another needs a small amount of cash to get through a crisis. The last thing many people want to do is ask relatives or friends for the money, and more often than not using credit card cash advances can trigger an avalanche of fees and interest rates that will keep you paying over and over again for that “quick” loan.

Payday loans in recent years have come professional, courteous and quick ways to solve your money needs. Most locations are now run better than most bank branches – excellent customer service, quick resolution of your problems, and a welcoming atmosphere. In fact, many of the loan companies have now taken to setting up shop online to further enhance their customer service. Today, you can go online to fill out the application, make your payments and even arrange for direct deposit of your loan funds. All from the comfort of your own home!

For many people payday loans let them take care of the small problems in their life before they become big problems. The car breaks down and you cant get to work – if you cant work, you cant pay your bills. Its an endless cycle that can be broken by using a payday loan company. They are there to help in your time of need – professionally and discretely.

The next time you find yourself struggling to make it to the net paycheck, or wake up in the morning only to find your hot water heater decided to take an early retirement, take a look at the services payday loan companies can offer to help you make it through your cash crunch – they may be the financial lifeboat you have been waiting for!

Can I Retire

Before we go any further, lets make sure were working from the same definition of hard money business loans.

For the purposes of this discussion, hard money business loans and hard money loans in general, are typically secured by real estate.

Because the lender is not usually concerned with the application of the funds acquired, Im further defining a hard money business loan as a source of funds invested into a business operation.

The lending criteria for issuing a hard money loan is primarily focused on the equity held in real estate.

Typical characteristics: 1) private lending sources, 2) short interest terms from one to three years, 3) up front fees on closing, 4) short in duration, 5) use of funds not a focus, 6) limited number of debt covenants if any, 7) interest only payments is quite common, 8) failure to pay results in sale assets to retire the debt.

While hard money lenders have their detractors, they serve a very real and valuable purpose in the commercial financing market place.

Pros and Cons

Pro – The application process for a hard money loan tends to be considerably faster than a comparably sized conventional loan application.

Con – Compared to conventional real estate financing through institutional lenders, the cost of hard money loans is almost always higher.

Pro – In many cases hard money can be lower cost than cash flow financing facilities like subordinate debt and factoring.

Con – Up front fees also add to the cost of hard money business loans which can significantly increase the effective interest rate youre actually paying over a period of time.

Pro – As a bridge loan, these funds are normally outstanding for a short period of time so the shorter the use, the lower the potential cost.

Con – At the end of the interest term, if an extension is required, but not granted, the loan needs to be paid out in full.

Pro – From a cash flow point of view, an interest only payment, even at a high rate, can still be less strain on the cash flow.

Con – Once you sign up for an interest term, its the same as most fixed interest rate terms whereby there is usually a 3 month penalty for early payout.

Pro – Hard money can also be extended against non real estate assets where real estate is still the primary security in the overall security package for the loan.

Con – If you fall behind with your payments, the foreclosure process can be swift and will typically be as fast as the local jurisdiction will allow.

The basic scenario for considering a hard money business loan is when a business has exhausted its conventional financing sources and is still short money to operate, expand, or just take advantage of short term opportunities.

Because repayment is usually required within a one to three year period, hard money business loans can also be categorized as bridge loans.

If youre thinking about whether or not to secure a hard money business loan, consider the following points:

>>> Can you generate an ROI? If you have good, profitable business in front of you that you cant bank because a lack of short term capital, then a hard money business loan may be a solid option.

>>> Do you have an exit strategy? Remember that a hard money business loan is effectively a bridge loan that youre going to have to pay back in the near future.

If you cant create a cash flow scenario where full repayment is possible at the end of the loan term, then a hard money business loan may not be a viable option.

>>> What are your alternatives? If your alternative financing options are equity based where you are giving up a portion of the future profits of the business, a hard money business loan can allow you to retain control of the business and keep the related profits.

>>> Whats the impact on personal liability? If your alternative business financing options are high cost and still require a personal guarantee, then a hard money business loan may actually be a better option.

>>> Can you generate enough capital? If a hard money business loan cannot completely address your financing need, then it may not be a good fit.

Sometimes business owners will use hard money to buy time until they can acquire additional capital to meet their entire financing need.

The problem with this strategy is that hard money is not very patient, and if it takes longer to acquire the additional funds than your cash flow allows, the hard money lender will not likely postpone or restructure your debt serving costs.

Instead, if you fall behind in your payments, they will likely realize on their security, which may put you out of business.

Self Employed Retirement Plans

While payday loans have long been popular in the USA, they are a relatively new service for UK customers, and many people arent sure exactly what they are. With all the controversy over whether theyre a worthwhile service or simply a form of legalised sharking, its a good idea for any UK resident thinking of applying to know exactly what theyre getting into.

Most of us struggle for money towards the end of the month to some extent, and have to tighten our belts a little by cutting down on socialising or other forms of non-essential spending. This is a perfectly normal (if annoying!) fact of financial life for most of us who are employed and get paid once a month. Sometimes however, running out of money can be more serious than this if there are essential expenses to be paid such as an unexpected bill or repair cost.

Many people use the overdraft facility of their bank accounts to give them a bit of leeway when funds are short, but in todays world many people are permanently overdrawn and near their limits, so this may not be an option.

An alternative way of tiding you over until your next salary is to use a credit card, both for purchases and cash withdrawals. There are several problems with this, including the fact that credit cards are an expensive form of borrowing, and its tempting to build up a large balance which can have a disastrous effect on your long term financial health.

If neither of the previous two options are right for you, then a payday loan may be worth considering. Briefly, these loans are available to nearly everyone with a bank account and a debit card, and who is in regular employment. When you take one out, the lender will transfer the amount you ask for directly into your bank account, usually within 24 hours of your application being approved. During your application you will have supplied your debit card details, and the loan company will use these to automatically repay your loan on your next pay day, along with their fees.

And therein lies one of the main problems with payday loans – the fees.

This kind of credit is notorious for being expensive, and eye-watering APRs of 1000% or even much higher are the norm. These APR figures are perhaps a little misleading, as the APR system is designed for credit with a longer repayment period than payday loans where the term is measured in days rather than years. Nonetheless, these loans are pretty expensive, with a fee of 25% of your loan amount generally the going rate.

The second major problem is that repaying your loan and fee is likely to leave you skint again at the end of next month, and its easy to get into an expensive vicious circle of taking out a loan every month – which is when those high APR rates will really bite.

So, is there any point to a payday loan? Yes, but only really for a genuine emergency where there isnt an alternative. If youre using these loans to finance your day to day life, then it would be better to examine your finances and see where you can economise, or to restructure your debt using a consolidation loan or similar to free up some extra cash every month.