Simply Junior

With the economy in a slump (Ok, let’s call it a recession) and inflation on the rise seniors and baby boomers are looking for alternative sources to fund their retirement. New retirement income strategies may be the answer. If you are a senior citizen, it goes without saying that you are probably concerned with your retirement income. Whether it’s having enough retirement income, or with finding additional retirement income strategies. If you are about to retire, you’re probably doing the math, consulting with financial planners, as well as shedding a few tears over the loss that your 401K took with the recent stock market plummet. If you are retired already, you’re watching your budget, saving and planning, and focusing on that almighty budget. Perhaps you are living on Social Security alone, in which case you may be really pinching pennies. Well, in any case, we have want you to know about some new retirement income strategies that will make a difference in your income AND in your lifestyle.

There’s something you may have heard of in recent years; it’s called the reverse mortgage. It’s very similar to a home equity loan, but the key is, you DO NOT PAY THE LOAN back, not in your lifetime anyway. Various rules apply and there is interest involved with the loan, as well as an origination fee, but it’s considered by many financial planners and industry experts one of the best retirement income strategies available. The reverse mortgage is not right for everyone, or in every situation, but you owe it to yourself and your loved ones to at least inquire about the details.

Below you will find some facts and guidelines regarding the reverse mortgage and it’s implication on your finances. We want to stress again that this strategy may not be right for you, but you should at least be aware of it as a retirement income option. The reverse mortgage is a unique loan product, sponsored and insured by the US Government (created by HUD and insured by the FHA.) Reverse mortgages are a safe, viable means of achieving additional retirement income. Highlights of the reverse mortgage income opportunity are listed below.

Reverse Mortgage Retirement Income Benefits
The money you receive is tax free income No payments as long as you live in the home No credit or income requirements Reverse mortgages are supported by Senior Organizations Reverse mortgages are insured by the FHA You retain ownership of your homeReverse Mortgages Retirement Income Requirements Borrowers must be Age 62 years or older Own their home and have enough equity in to qualify Occupy the home as primary residence Receive counseling by an approved HUD/FHA counselor The home must be in reasonably good repair Reverse Mortgage Retirement Income Payment Options Lump sum disbursement Monthly payments Line of credit A combination of the Above Reverse Mortgages should be considered among your retirement income strategies. They provides safe, tax free retirement income, that DOES NOT HAVE TO BE REPAID, in your lifetime, or as long as you live in the home. This retirement income program was specifically created to afford seniors more retirement income, and new strategies for planning their retirement. Let’s face it, if you did not plan effectively for your retirement income, then you definitely need new sources for retirement income.

Certainly there are additional retirement income strategies, other sources of retirement income. We just wanted to shed a little light in the reverse mortgage and the positive impact that it might have for you.

Remember though, that it’s not right for everyone. We recommend seeking counseling and looking into other option. Feel free to contact us regarding Senior Reverse Mortgages for additional details, or to locate a reverse mortgage provider.

Nowadays, a car has become a necessity for most people around the world. Everywhere we go, we use an automobile as the mode of transportation. Unfortunately, with the current high global crude oil prices, many people are finding it tough fueling their cars and maintaining their monthly household budget. Many people are looking for ways to cut their fuel consumption. One of the petrol saving tips is to take care of the tire. Good tire maintenance can reduce your car gas consumption. This article will share some points on the science behind the tire.

There are actual two main culprits that will attack your tires. They are Ultra Violet light waves and ozone. The two elements will attack the long hydrocarbon chains of the rubber and, by breaking these bonds, shorten the molecules with cause loss of elasticity on the rubber.

Tire manufacturers of the world also play their part to make the tire last longer. Inside the mixture of tire are two primary sacrificial protectants to the rubber. Carbon blacks are added to protect the rubber from UV light wave. That is the reason why most tire comes in black colour. The carbon black will turn into white or gray as it absorbs the UV and dissipates the energy as heat. This is the basis of rubber tire turning gray as they age.

To protect against ozone, tire manufacturers add a wax based component. The ozone will attack the wax and depletes it. As the tire rolls, additional wax is forced to the surface of the tire thus reinforcing the protection shield.

The tire is one of the major components of your car. Tire manufacturers have been playing their part to make your tire last longer thus helping help you to reduce your car running cost. It may not seem like a major achievement, however, small things adding up will have a big effect. If you want to reduce your car petrol consumption, it may be a good idea to start by understand the science behind the tire. To have a higher savings on gas, you may even consider using an alternative fuel such as water for your car.

As a new entrepreneur looking for capital, one of your first options for a loan will be the SBA, or to be exact, asking for an SBA-backed loan. SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. (You are still liable for the loan, so your obligation does not go away) This makes it easier for banks to lend to budding entrepreneurs, but it does not mean that the bank can lend indiscriminately. The bank will analyze the application to protect its interest as well as the SBA’s.

The SBA does not lend directly to the business owner. It is important that the bank you are working with is knowledgeable about SBA loans, as it will initially process your application, not the SBA. The SBA will review the application once the bank approves it.

What will the bank look for in your application?