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Day: August 12, 2019

Paying Much Less For Quality Home Insurance – Consider These

You can pay much less for quality home insurance if you know the ways to go about it. You need to make certain adjustments and put certain things in place in order to get more affordable rates. If you're really serious about paying less then consider the following as they'll help you achieve just that …

1. Does your house have fire escapes? If you do then make it known to your agent and see what discounts this will get you. Even with simple rope ladders for the upper rooms, you still could get some discounts. Make sure you have a fire escape unless you do not intend to benefit from this savings opportunity. And do not forget to ask your agent what your insurance company sees as a standard fire escape because complying with that assures savings.

2. Although you have the choice of insuring against every imaginable peril, you really do NOT need to. There are perils that will never happen in certain places. Knowing the climate trend of a place you can say with a level of assurance the types of perils that can strike.

It is wise to ensure you insure your house against every peril that has a reasonable likelihood of happening. At the same time, you may just be wasting your money if you purchase coverage for a peril that has never happened in your state's past records. Review your policy for only likely losses. You'll lower your premium by doing this if you purchased more than necessary at first.

3. You will lower your home insurance rate by up to 15{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} if you change to modern heating, electrical and plumbing systems. For example, the traditional fire place may be more romantic but it's however not as safe as a modern heating system. Building technology has improved in many ways to make your home safer. Make good use of them as they'll not only lower your home insurance premiums but add to the value of your house in several cases.

4. You'll get lower home insurance rates if you obtain group homeowner's insurance. You can confirm from associations you are part of since they may have obtained group discounts for home insurance.

However, before you apply this option, compare the rates you will get from such an association with what you will pay with another insurance company. This is because you may end up finding an insurance company that is ready to take less than you'll even receive with your association's discount. Shopping extensively will enable you get the best rates.

5. Do you know everything your home insurance policy excludes? They're things that the policy does not give you coverage for.

Before you start celebrating about that cheap offer, ensure that the exclusions section does not slash off things of great importance to you. Any home insurance policy that places you at risk is NOT really worth the paper it is written on no matter how inexpensive it is. Before buying make sure …

Proper Investing

Investing money takes time and patience, but the rewards are tremendous and long-lasting. By saving money long-term and preparing for life after your career is over, you’ll really put the “golden” in golden years. There are some things that you must know about investing if you want to make the most of your money and time.

Save or Invest?

Five years is the benchmark to use to determine whether to save or invest. There is a difference. Saving is more short-term, while investing is long-term. For example, if you are planning to buy a car soon, you’ll want to save a pre-planned amount each month in a basic savings account. You’re just looking for a safe place to put the money, so don’t worry about earning interest. After several months, you can go buy the car (look for a good bargain and use the power of cash to get a discount).

On the other hand, if you have a 5-year-old child and want to start saving for his or her college fund, then you want to invest. If you are planning to retire in 25 or 30 years, you would invest money, rather than just save it. In terms of investing, put your money in good growth-stock mutual funds with at least 10-year track records. Put 25{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of your money each in growth, growth and income, aggressive growth and international funds.

Why Invest Now?

The reason that you invest your money when you have a lot of time is just that: time. Over any given five-year period, 97{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of the mutual funds on the market make money. Not only that, but the stock market has averaged a growth rate of 12{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} per year over the last 70+ years. Not only is time on your side when it comes to investing, but solid performance by the market is as well.

That doesn’t mean a solid growth curve of 12{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} each year is guaranteed. It means one year the market might grow 7{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc}, the next year 10{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc}, and the next year 19{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc}. That comes out to 12{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} per year, and since you leave money in an investment for several years or even decades, then you come out a winner there.

Let’s look at an example. If you want to retire at age 65 and start investing just $200 a month at age 45, you’ll end up with about $193,000. That won’t cut it if you’re going to spend 20 or 30 years in retirement and expect to live off the interest. If you begin investing that same amount at age 35, you’ll have almost $649,000. Better, but probably not good enough. If you start at 25, though, you’ll finish with over $2 MILLION! You’ll be able to retire with dignity, give money like you’ve never given before, have serious fun, and leave a huge blessing to your spouse and children.

You get out of investing what you put into it. The sooner you complete the first three Baby Steps, …