Free Retirement Poems

Free Retirement Poems

Source: Flickr

When you search for retirement poems online, they will yield two results. There are free retirement poems and for sale. You don’t have to worry if your research will direct you to the ones that require you to take out some money from your wallet, because you are still left with other option – the free retirement poems.

The free retirement poems you can find on the internet are not only available for you to read, but also you can use them as retirement gift ideas or for which might inspire you to write one in your own words. That is if you prefer to have original ones. But, there’s more! You can also make them part of your retirement speech. As a matter of fact, some of the sample free retirement poems are specially made so that some of the words rhyme with toast. Here is an example of free retirement poems that could be inserted after rendering your speech and before the retirement toast:

This final time you leave your post
Your workmates here would like to boast
We’ve wished you the most
Happy life – down on the coast
While we continue here –
In our daily work engrossed.
And with that,
Let us together toast
You
Our friend and colleague (name)

Or, you can have the option to change some of the wordings to best suit the one who is retiring. For instance, if the person who is retiring is not spending his time at the coast, you could fill in something that would still rhyme with toast for as long as it makes sense, of course!

If you need free retirement poems that are of humorous message, this is a good example:

Warning
Jenny Joseph

When I am an old woman, I shall wear purple
With a red hat that doesn’t go, and doesn’t suit me.
And I shall spend my pension on brandy and summer gloves
And satin candles, and say we’ve no money for butter.
I shall sit down on the pavement when I am tired
And gobble up samples in shops and press alarm bells
And run my stick along the public railings
And make up for the sobriety of my youth.
I shall go out in my slippers in the rain
And pick the flowers in other people’s gardens
And learn to spit.

You can wear terrible shirts and grow more fat
And eat three more pounds of sausage at a go
Or only bread and pickles for a week
And hoard pens and pencils and beer nuts and things in boxes.

But now we must have clothes that keep us dry
And pay our rent and not swear in the street
And set a good example for the children.
We must have friends to dinner and read the papers.
But maybe I ought to practice a little now?
So people who know me are not too shocked and surprised
When suddenly I am old, and start to wear purple.

Reverse Mortgage: Loan For The House-rich But Cash-poor

Reverse Mortgage: Loan For The House-rich But Cash-poor

Source: Flickr

Do you need to finance a home improvement? Pay off a current mortgage? Supplement your retirement income? Take care of healthcare expenses? If so, a reverse mortgage lender will do wonders for you. With a reverse mortgage, you can turn the value of your home into cash without having to repay your loan each month.

When Is It Repaid?
A reverse mortgage is a loan taken out against your home. The best thing about it is that you don’t have to pay it back for as long as you live there. Reverse mortgage lenders only collect repayment when you

– die
– sell your home
– or move to another house and live there permanently

What Types Are Available?
There are three basic types of reverse mortgages, and they are classified according to who the reverse mortgage lender is.

1. Single-purpose reverse mortgage
This is offered by non-profit organizations, state governments, and local agencies.

2. Federally-insured reverse mortgage
This is also know as HECM, or Home Equity Conversion Mortgage. It is backed by the U.S Department of Housing and Urban Development, or HUD.

3. Proprietary reverse mortgage
The reverse mortgage lender of this type of mortgage is a private company.

Are There Other Differences Between Types?
The three types of reverse mortgages also differ in other aspects, particularly in their terms and manner of use.

1. Single-purpose reverse mortgage
This has very low costs, and you can only qualify for one if you have a low to moderate income. There are two drawbacks to this type of reverse mortgage. First, it is not available everywhere. Second, it can only be used for the purpose specified by the government or by the reverse mortgage lender. Such a purpose may range from paying for home repairs to paying off property taxes.

2. HECM and proprietary reverse mortgage
These tend to be costlier than the other two home loans. In fact, the up-front charges could be very high. These two types of reverse mortgage, however, are not without their advantages. For one, many reverse mortgage lenders offer them. For another, HECM and proprietary reverse mortgage lenders do not ask for proof of income or a bill of good health. Finally, these two mortgages may be used for any purpose.

How Much Can You Borrow?
In single-purpose reverse mortgage, the amount is set according to how much you need.

In a proprietary reverse mortgage or HECM, the reverse mortgage lenders offer amounts depending upon a combination of factors, such as:

– the type of reverse mortgage you choose
– present interest rates
– the appraised value of your home
– your address
– your age

Reverse mortgage lenders put a high premium on age. As a rule of thumb, the older you are, the more valuable your home is. Secondly, the less mortgage you have left to pay, the more money you can get.

How Will You Get What You Borrow?
A reverse mortgage lender gives you cash in several ways:

1. all at once, in a single chunk of cash
2. as a credit line, wherein you can decide when and how much of the money available is paid to you
3. on a regular basis, with the amount and schedule of payment fixed
4. as a combination of the three previously mentioned payment methods

How Do You Qualify?
To be eligible for a reverse mortgage, you must be at least 62 years old and must live in your own house.

If you are cash-strapped, a reverse mortgage may just be the answer you need. Be sure to research about this type of loan first, though. In loans, as in all other things, it is better to be safe than sorry.

What Happens When I Retire?

What Happens When I Retire?

Source: Flickr

Health insurance considerations weigh heavily on the
minds of people wanting to retire before Medicare
coverage kicks in at age 65. Many people put off
retirement simply because the cost of an individual
health insurance policy is too great on a limited
income.

What options for health insurance do you have if you
choose to retire before age 65? Although they are not
required to, you may be able to get COBRA-like
coverage from your employer.

As an added retirement benefit, your employer may
allow you to pick up the premium on your policy;
although paying 100% of your premium may initially
appear to be an expensive option, purchasing an
individual policy apart from a group may be even more
costly and not provide you with the level of coverage
you previously had.

Some companies are offering basic high-deductible
insurance reasonably in the hopes that they will be
able to enroll you in Medicare Part C (supplemental
insurance) when you retire.

Another option is to budget and save money to cover
your anticipated medical costs for the time period
between retirement and age 65. If you are in very good
health, this may be a viable alternative for you.

Pre-planning for retirement is an important issue; the
earlier you start planning, the better. Realizing the
Medicare does not pay all of your medical expenses,
you should budget money for medical expenses even
after retirement.

What Is A Reverse Mortgage And What Are Its Benefits?

What Is A Reverse Mortgage And What Are Its Benefits?

Source: Flickr

When it comes time to think about the future because you are getting older and closer to retirement, you may want to consider getting a reverse mortgage for your home. This is a rather new thing among mortgages, but it can provide you with a stable income until you no longer have need of the house. Here are some things you should know about a reverse mortgage.

The idea of a reverse mortgage is to provide you with an income in your senior years when your income level may be lower or nearly non-existent. To start with, you must be at least 62 years old, and have some equity in your home. Other considerations of how much you can get include the value of the home and how much remains on the mortgage that is unpaid.

What Is It For?

The goal of getting a reverse mortgage is to tap into the equity of your home and use it to provide you with cash so that you can either meet upcoming expenses (possibly medical), or simply use it to maintain a certain level of living. Payments from the mortgage company to you can be obtained in a number of ways, including monthly payments as long as you live in the house, a lump sum, monthly payments over a term, payments plus a line of credit, and combinations of these things. Your options and amount you can receive are based on things like age and the amount of equity that you have in the house. The older you are the larger payment you will be eligible to receive.

How Does It Work?

A reverse mortgage works differently than a regular mortgage. The first difference is that they pay you instead of you paying them. You make no payments until you, or those also named, no longer live in the house. At that time, however, the full amount becomes due, and generally will need to be sold in order to make the payment.

Who Qualifies?

Another difference that applies to a reverse mortgage is that it does not matter how much you make in income at any time. Since you are not paying them – you can automatically qualify. There are, however, some things that remain the same as a regular mortgage – the fees and closing costs. When you no longer need the house, that is, either you move to a nursing home, or, at death, the house will be sold and you will pay back the principal and the interest. Any mortgages that exist on the house when you get a reverse mortgage will automatically be paid off at that time.

Many people find that reverse mortgages can be rather confusing. This demands that you take a little extra time to learn about them well enough to know what is involved. Different lenders have different features, and you need to know that there are scams out there that deal with reverse mortgages. Compare each of them carefully. Most agencies, especially the Federal ones, will require counseling to help you understand all the options of a reverse mortgage before you apply.

Is A Reverse Mortgage The Right Option For You?

Is A Reverse Mortgage The Right Option For You?

Reverse mortgages are designed to provide those who are retired, or near retirement with a way to keep on getting an income, or money to meet other expenses as they grow older. While it may not be the way for everyone, it certainly is a valid option for many. Here are some things you need to know about reverse mortgages to help decide if one should be in your near future.

What Is It For?

The purpose of a reverse mortgage is to provide some income so that a person 62 and older can be able to continue at a higher level of living than what social security alone could do. This is especially important because of the way that social security and the economy is headed.

Where Does The Money Come From?

The money comes from the equity that is built up in the house over the years. This means that the more equity there is, the greater the payments could be. The amount of money that is still owed on any outstanding mortgages is paid off immediately, and payments are based on the balance.

What Are The Qualifications?

A reverse mortgage is for any homeowner that is aged 62 or older. They must be a homeowner and have some equity in the home. There are absolutely no conditions as far as amount of income needed since you actually make no payments to them. This means anyone can qualify.

What Are The Terms?

As long as the named individual lives in the house, no payment needs to be made. An individual can also put their spouse or another named person onto the mortgage, so that it will not need to be sold to make repayment until the house is no longer needed.

How Is The Money Received?

The way that you receive the money is largely left up to your choice. This is because it is your money and you are free to use it as you wish. You can get a lump sum – if you want, or one of several other options. There is the option of getting monthly payments, or monthly payments over a specified period of time, and a line of credit is possible, too. You can also get a combination of any of these, too.

Is The Estate Lost?

You are able to keep your estate when the home is sold. Profits can be made from the sale
if the home sells for more than was paid out and applied to the estate.

What Charges May Apply?

Just like most mortgages, a reverse mortgage has most of the typical fees that apply to any mortgage. There are closing costs and service fees that will probably bring it up to somewhere between five to seven thousand dollars.

You want to take the necessary time to look over all the details when you start thinking about getting a reverse mortgage on your home. Federal reverse mortgages require professional counseling in order to help you understand all the issues and help you to be sure of your next decision to get one. Compare several offers in order to be sure you are getting the best deal.

Rolling Over Your 401k Plan The Easy Way

Rolling Over Your 401k Plan The Easy Way

So what is a 401k retirement plan? A 401k plan is actually a retirement investments plan that is subsidized by employee or worker payments and often, corresponding involvements from your manager or employer. In addition, the most important draw for these plans is that the payments are taken from your pre-tax wage, and the funds rise tax-free until such time that it is withdrawn or pulled out. Also, the plans are, to some degree, independent and self-sufficient, and the good thing is that they are manageable and convenient.

401k retirement plans are for profit and many kinds of tax-exempt associations and institutes can create these plans for their employees and working staff. Moreover, a 401K plan is a corporation-supported retirement plan for workers. Payments and earnings in a 401K retirement plan are not subject to federal and most state income taxes until the account is withdrawn or pulled out. With a 401K plan, you can save and invest cash from a pre-tax starting point with the employers contributing corresponding funds to add to yours, which makes the plan even more profitable. Most of the time, you will have the option to choose how much you want to contribute, up to the maximum allowed by the government and also the option to choose where your contributions go. You pick your investment vehicle from a directory of funds provided by your retirement plan sponsor or manager.

You can learn when you are entitled and permitted to start contributing in your business’s 401K retirement plan from your assistance manager or director. In addition, once you are qualified to sign up, you will be given an inventory of funds in which you can choose to invest in. You can choose to invest the maximum of $14,000 in 2005 and $15,000 in 2006. There are numerous benefits and gains to 401k plans.
First and foremost, since the contributor is permitted to make a payment to his or her plan with pre-tax cash, it lowers the total tax taken out of every pay check. Subsequently, all company payments and several enlargements in the principal capital are free of tax until withdrawal. Moreover, the compounding result of steady cyclic payments over the phase of 25 or 35 years is remarkable.

In addition, you can decide where to target upcoming payments or place present savings, giving more power over the assets to the contributor. Consequently, if your company matches your contributions, it is like receiving additional funds on top of your earnings. In addition, unlike a regular retirement fund, all payments can be shifted from one business plan to another company plan if you change jobs.

Because the plan is an individual investment for your retirement it’s sheltered by the retirement fund (ERISA) laws and regulations. This gives you the extra security of keeping your funds from the hands of creditors in case of bankruptcy. This does not apply to household relations court cases that deal with divorce orders or child support orders. Indeed, a 401k retirement plan is a good way to start setting yourself up for an enjoyable retirement.

Deciding on Whether a Reverse Mortgage is For You

Deciding on Whether a Reverse Mortgage is For You

Source: Flickr

Many seniors want to enjoy their golden years, but are unable to find a way to increase their monthly income or decrease enough of their monthly expenditures in order to retire at an age that will afford them the opportunity to do so. One way to circumvent this problem is through obtaining a reverse mortgage. A reverse mortgage enables homeowners older than sixty two years of age to convert the equity in their homes into tax-free income while they continue to reside at their property. Instead of making monthly payments as with a traditional mortgage, seniors who hold a reverse mortgage are compensated now for the current value of their property.

But how do you decide if a reverse mortgage is right for you?
Reverse mortgages are an excellent option for many, but take careful planning and consideration. Since the pay out terms can be structured in a variety of ways, including various pay out term periods, lines of credit or both, it is essential to look at the amount you are able to get for your home in the context of your long term financial needs. Of course, there are no restrictions on the use of funds, meaning you can do anything you like with the proceeds of a reverse mortgage, including renovating your home.

Reverse mortgages won’t affect regular Social Security or Medicare benefits but can affect Medicaid eligibility in some instances. Counseling is a mandatory for those who wish to apply for a reverse mortgage, and a government sponsored lending agency counselor can answer all your questions related to benefit reductions that may apply.

Reverse mortgages can be a very effective method of supplementing your post retirement income, provided you are aware of how proper pay out structuring can positively affect your long term financial picture. The best way to decide whether a reverse mortgage is right for you is simply to view all the information available in order to make an informed decision. For those who have paid the majority or their entire home, their post retirement lifestyle need not be hampered by a lack of cash flow.