Make your 2009 Retirement and Finance Goals!
Man......2008 was extremely painful in a number of ways for your investments, retirement and personal finances. 401k Plans are now 201k Plans. 2009 offers a blank slate, so it is vital that you sit down and come up with your Financial and Retirement roadmap for the year. Here are a few suggestions:
First, take control of your investments.
The worst thing you can do during a down economy is panic and pull all of your money out of your investments. Usually this results in selling at the market bottom and loosing the opportunity to ride the market back up. If you are upset at your broker or financial advisor, you can find a new financial planner on eRollover's advisor search or try out an online broker for some of your 401k assets or stocks, Open an account at TradeKing.
Stay positive by turning economic lemons into lemonade.
The struggling economy isn't all bad for your finances, so look for that silver lining. Mortgage rates have dropped to near 40-year lows amid the housing crisis, which makes it a great time to refinance or even buy a home. Current rates can be found at .It's also a good time to improve your credit score.
As lenders tighten their criteria in the credit crunch, you'll need at least a 760 on the 300 to 850 point FICO scale to secure most loans or lines of credit. IF If you can your credit score improved, you can take advantage of rates that are supposed to near 4.50%! Keep an eye on your credit score,
Get Equifax Score Watch Now!
And put your savings to work!
It's not easy to save a lot when your finances are already stretched tight. But make sure whatever you can save is earning a good interest rate. There are still safe banks offering near 3% money market rates, like the HSBC Bank Account
Finally, stick to a budget.
There is nothing that will get you in a pinch quicker than overspending. Try to come up with a firm plan, and Stick to it as a commitment to your 2009 Financial Goals! eRollover is coming out with an account aggregator that will keep track of all of your finances on line! It even sends you reminders for when your bills are due! Stay tuned for updates, as this should be launched the first week in February. Sign up here to get a BETA code when it becomes availiable!
