Jonathan Chua

What do you want to do when you retire? It may be a long way off (and a hard question to answer), but it’s important to think about life after you stop earning a regular paycheque. Whether your goal is to travel, learn a new skill, indulge in hobbies or simply maintain your current standard of living, you’ll need to rely on savings to cover the cost of these activities, in addition to your everyday expenses. By doing the groundwork now and learning how much you need to save, you can let your dreams drive your retirement, rather than letting available funds drive your dreams. Here are three things you can do right now to boost your retirement savings, and three tips to help you a few years down the road. 3 things for today: Cut spending Maximize investments to pay less tax Become debt-free 3 things for tomorrow: Consider downsizing Work longer and ease into retirement Prepare for the unexpected source

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Understanding the differences in life insurance choices to find the best price. Yuri_Arcurs/DigitalVision/Getty Image There are various points in life when people decide they need life insurance. Once you've come to that decision, you will usually be presented with several options and plans. Knowing which type of life insurance is best for you can really help save you money and make sure that the decision you make will give you what you are looking for. Do I Need Life Insurance? If you are wondering if you need life insurance, you probably do. Life insurance isn't just for when you get married, are buying your first house, or have children. There are many reasons a person may need life insurance, and some good strategies behind when to get life insurance and what kind of insurance to get. Some situations may call for short term life insurance policies, in other situations whole life policies may make more sense. What Type of Policy Should I Get? Before you decide wha...

Globally, the financial services industry leads the world in terms of earnings and equity market capitalization. Large conglomerates dominate this sector but it also includes a diverse range of smaller companies. Commercial banking services form the foundation of the financial services group. The operations of a commercial bank include the safekeeping of deposits, issuance of credit and debit cards, and the lending of money. An investment bank typically only works with deal makers and high-net-worth clients, not the general public. These banks underwrite deals, secure access to capital markets, offer wealth management and tax advice, advise companies on mergers and acquisitions, and facilitate the buying and selling of stocks and bonds. Financial advisers and discount brokerages also occupy this niche. Hedge funds, mutual funds and investment partnerships invest money in the financial markets and collect management fees in the process. These organizations require custody services f...

Retirement is one of the key financial goals for many people.  Saving early and often is important.  So is taking advantage of products and accounts designed specifically for retirement. Tax advantages are a key feature of annuities, IRAs and employer sponsored retirement savings plans, such as 401(k), 403(b) and 457(b) plans.  Any earnings growth in these products is generally tax-deferred until you make withdrawals, generally when you are retired and may well be in a lower tax bracket. What's more, your contributions to IRAs and employer retirement plans may be made pretax or may be tax deductible, helping reduce your current tax bill. Annuities An annuity is long-term retirement product that can help protect you against the risk of outliving your assets. It is a contract between you and an insurance company: you receive future income in return for your contributions. Any earnings on contributions are tax-deferred until they are withdrawn, usually at retirement...