Current rates on CDs and Annuities are at historic lows. Chances are after inflation and taxes, savings in these products will actually lose purchase power. Don’t watch your savings slowly disappear. You deserve better. It’s time to step away from traditional fixed products and learn about other fixed options that are available.
A Fixed Cash Flow is income that is received by a pension recipient which originates from one of several institutions including state and federal government retirement plans or investment-grade corporation pension plans. Current rates can range from 6.5% on a five-year federally-sourced plan to 7% on a 5-year Select Pension Program. The length of the term is 5 years or 60 months. A buyer can choose the amount of monthly income desired and the credit risk preferred. Fixed Cash Flows offer competitive rates, with predictable income that can be customized to your specific needs.
1.Kill your debt first
2.Set savings goals
3.Establish a time-frame
4.Find out how muchyou'll have to save per month
5.Keep a record of your expences
6.Trim your expences
Can you move to a less expensive apartment or house? Can you refinance your mortgage?
-Can you save money on gas, or give up a car altogether?
If your family has multiple cars, can you bring it down to one?
-Can you get a better price on insurance? Call around and make sure you are getting the best price you can. Consider taking a higher deductible, too.
-Shop the discount racks at clothing stores. Items on clearance are marked down considerably and could save you 50% of the price.
-Can you drop a land line and either only use your cell phone or save money by calling over the internet for free with services such as Skype?
-Can you live without cable or satellite TV?
-Can you cut down on your utility bills?
-Can you restrict eating out? Buy food in bulk? Start using coupons? -Cook more at home? You might be able to save a lot of money when grocery shopping.
7.Reassess your savings goals
8.Make a budget
9.Stop using credit cards
10.Open an interest-bearing savings account
11.Pay yourself first
12.Don't get discouraged and don't give up