Personal Loans Financial Fitness Financial Planning

Prepare for Retirement with A Private Loan

As you near the retirement age, it is important to collate the amount that you need upon retirement and a retirement loan may help to put it into various investment instruments to grow your money. Retirement planning has two phases, pre-retirement which can be described as the pre-accumulation of wealth, and post-retirement which is the distribution of your accumulated financial assets. The accumulated amount must be sufficient to meet your needs and wishes.

Here’s how retirement loan can help you avoid running into retirement trouble.

Debt-free but with zero savings

If you’re in your 40’s, with no debts, mortgage, and no dependents to support but you have no investments nor savings, you can take out loans for bad credit to invest for your retirement.
It is a solid way to grow your funds through specific investment options, one of which your retirement fund.

Here are some of the practical investment strategies with low-risks:

  1. Set aside a 6-month emergency money into an accessible emergency fund.
  2. Asset allocation and index funds. The best way to lower the risk is to balance your portfolio by dividing it into three. For example, you put 33% into Bonds, 33% into an International Stock and 34% for government Stocks. If you have $100,000 that would mean $33,000 should be in bonds, $33,000 into International Stock (include emerging real test reinvestments) and $34,000 into government Stocks.
  3. Put money into a retirement fund. You don’t have pay into the system because the government’s general revenues pay for it. But, it is still advisable to get your own retirement fund if you want a comfortable retirement. Even if you are employed and covered with the mandatory savings account financed by your employer which you can choose to invest in various investment vehicles, retirement funds can give you extra income when you exit the workforce.

With debts and minimum savings

Payback the debts with debt consolidation retirement loan

Making payments to your credit card providers and lenders can be stress-free if you consolidate your loans. It will also save you some money which you can use for your needs, or probably to re-invest into a business (if you have one). Debts become manageable only when you have ample revenue flowing into your account at least on a monthly basis. So, if you are employed or if you run a business, it is important to lower your debt by making payments more manageable while you still have a steady stream of income. This way, you can avoid bankruptcy which can be very detrimental to your credit score.

Take advantage of tax deductions

You can save money by applying for private retirement loans, especially if you are going to use it for business purposes. You are allowed to deduct the principal and the interest payments on your business loans as business expenses. It could mean lower business income taxes and higher income for you.

Invest your money in variable or fixed costs

While you may not easily see returns on investments when you spend your retirement loan on fixed costs such as office equipment or furniture, it is up to you to make full use of these items to compensate for the lack of direct cash returns.


If you are using the money for variable costs, such as for the purchase of inventory materials to sell, you can expect an immediate cash inflow as a result. You can use the money to grow your business and set aside a spare amount for your future needs.

No one is too young or too old to prepare for retirement. it is just a matter of perspective—if you want to create a solid investment strategy based on your personality, needs and goals, then you must be willing to take the risk that your goals require., You may not be able to beat the market, nor shield your finances from inflation all the time. But, you can avoid unnecessary stress by protecting your savings, maintaining a disciplined approach to budgeting and refusing to ride the roller coaster shopping, vacations and investment trends that may damage your wallet.

Start amassing a nest egg while paying debts by choosing a private non-bank lender that can help you with personal loans and unsecured business debt consolidation, and put more money into your retirement savings to carry you through 30 years or more of your life.

Debt Management Financial Planning

Pay Off Debts and Save for Retirement

Saving up for retirement is one of the things that everyone should pay attention to and take into consideration. Sooner or later, you’ll realise it’s time to stop working and retire. It would be nice to retire if you have sufficient money and don’t have any debts to pay and worry about. Retirement is a stage in life where you can relax, travel and enjoy life. But it is impossible to do any of these if you are in debt. Before you reach this point in life, you should have at least paid all your debts so you can enjoy your retirement.

Planning Your Retirement

Are you in your 40’s or closer to your retirement age? What are your financial goals? Do you want to set up a retirement fund but are having difficulty because you simply cannot get out of debt? Do you want to invest in the future? It is best to determine your goals in life.

It is ideal to put up an emergency fund; it may not be like what financial experts suggest but saving up even smaller amounts is better than nothing. Why emergency fund? You don’t know what’s going to happen in the future or in the next few days. Without it, you are going to rely again to your credit cards or private financing. But if you have an emergency fund, you are preventing yourself from borrowing money with high interest rates.

Before you reach your retirement age, it would be ideal to have paid off your debts. Again, you can practice the stack method. This method requires you to list down all your debts. Loans with highest interest rates should come first, down to the lowest. Prioritise the first one, you should immediately settle loans with high interest rates. Cross it out when you are done, then proceed to the next until you reached the bottom of your list. Easier said than done.

How can you make this possible? Avoid making new loans or using your credit cards; pay in cash and make use of what you have in hand. Once you are done with the list, you can save up for retirement. If you aim for a more secured future, it’s time to start saving up and avoid unnecessary expenses.

Cutting down your credit card usage and extra expenses that you can live without can save you hundreds or even thousands of dollars annually which you can allocate for a retirement fund. Having a retirement fund is essential and it is best to plan for it ahead of time.

Financial Planning

Retirees Struggle with Finances

A recent survey has shown that one in four self-funded retirees has been forced to return to the workforce as a result of their shrinking retirement funds. On top of this, retirees are looking to cut spending, accept a lower standard of living, sell assets, cancel travel and recreational activities, or delay retirement altogether.

The survey shows that four in ten have lost more than $100,000 in the market downturn. More than one in ten have lost half of their invested wealth (excluding unlisted property).

As a result, 26% of retirees have been forced to get a job or are planning to do so simply to make ends meet.