My Personal Finance Blog

On 30th July 2010, the Government announced that the default retirement age, which is 65, is to be phased out from 6th April 2011 and abolished completely from 1st October 2011, when the statutory retirement procedures will be removed.

The current situation is if an employer wishes to retire an employee who has attained the default retirement age of 65, an employer must give a minimum of 6 months notice, or a maximum of 12 months notice of retirement to those employees. The notice must give the employees the right to request to work beyond their retirement age, in which case there should be a meeting to discuss this request, together with the right of appeal in respect of the decision. If, following the appeal the ultimate decision is that an employee is to retire upon his or her attaining the age of 65 years, there is no need for the employer to give reasons for the decision. The reason for dismissal is retirement.

From 6th April 2011 it will no longer be possible for employers to retire employees with this procedure. Indeed there will be transitional arrangements for retirements that have been notified prior to 6th April 2011 and where the date of retirement occurs before 1st October 2011.

From 1st October 2011, subject to the transitional arrangements, if an employer wishes to dismiss or retire an older employee, this would involve following a fair procedure and relying on one of the established reasons for a potentially fair dismissal which are set out in the Employment Rights Act 1996, which are, conduct, capability, illegality, redundancy or some other substantial reason.

The Government has published a consultation document, explaining the proposals to phase out the default retirement age. Responses to the consultation are required by 21st October 2010.

If you have seen on TV and other news media that the USA is coming out of the recession, then why will no bank offer you a decent, no balance transfer fee offer with zero percent interest for 12 months, zero interest on purchases for six months, and a generous 5% money back on purchases rolled in one card?

Well the answer is quite simple. The banks are really not too sure that the recession is over, and their lending standards reflect that. However, there is one way you can get a top, high cash back credit card in 2010 and 2011. The way to do it is to reduce your debt level, increase your FICO score, and then apply for a best cash back credit card you can find.

So what is the best cash back credit card for 2011?

Once you have established a high FICO score by reducing your debt, preferably to less than 25% of the credit limit on each of your cards, banks will compete for your attention with high cash rewards card offers. You will probably start getting attractive pre-approved offers in the mail again! Which will be the best credit card for you will depend on where you spend the most money. Let’s see a few possibilities:

If you carry a credit card balance

Maybe in this case you should not even focus on getting your money back as much but rather on developing methods of getting out of credit card debt as soon as possible. Look for a balance transfer card with the longest intro rate possible. And look for cash back debit cards in addition.

If you have high weekly grocery and gasoline expenses

Maybe you are taking care of a large family and spend significant amount of money on groceries and for the cost of transportation, that is gas? In that case, the best credit card for 2011 will give you as much as 5% off on all gasoline purchases and some grocery purchases. Likely, you will get the highest 5% money back by pumping gas at a single brand station such as BP.

If you travel much

When you travel across the globe or within the USA, you could benefit most from a no-limits miles card. You will receive multiple miles, up to 5, for purchases of airline tickets, and lower amount of miles on all other purchases. Combining frequent flyer miles with the miles earned through purchases, your rewards will come quickly and will be easy to redeem.

For everyone else…

For everyone else, getting cash back on most purchases makes the most sense. While there are no cards that will give you high, as much as 5% cash back on all purchases, you could go ahead and get two or three different cards that will have high cash back of 5% at different times of the year. Thus, by rotating your cards, you could earn 5% on many purchases throughout the year. Of course, shuffling credit cards like that requires quite a sophisticated tracking system.

Investors who bet that bond funds would be the best investment for 2010 were not disappointed with their investment choice. Since smart investors look down the road six months or more that begs the question: will bond funds be the best investment for 2011 and what are the risks?

Just a glance at average annual rates of return for the 3-year period ending in mid 2010 helps explain the popularity of bond funds. Money market funds paid between 1% and 2% a year on average paying virtually nothing for the last 12 months. Stock funds had a wild ride with many of them LOSING 10% a year or more. Many high-quality BOND funds returned over 6% a year. Under one possible scenario these INCOME funds could be the best investment for 2011, or at least the best mutual funds. But don’t overlook the risk factor.

Bonds offer a fixed yearly income based on a fixed interest rate that never changes for the life of the investment. When you own shares in a bond fund you own a small part of a large portfolio of these income producing securities, which trade in the open market like stocks do. Your total return from bond funds includes both interest income and gains or losses in the value of the securities in the portfolio. Hence, risk is a factor.

Bond funds are also referred to as income funds because that’s their major attraction… higher interest income than you can get from other popular investment options or other mutual funds. They have been good investments in recent times and the best investment for 2010 for investors in search of higher returns without high risk. There are two basic reasons for this. Interest rates have been falling and inflation has been tame. Falling interest rates make the fixed interest income from existing or older bonds more attractive than that of new issues coming to market. Investors bid the price (value) of bonds up in the market because they are willing to pay more for the higher income.

Lower inflation makes a bond’s fixed income payment more attractive, as the future buying power it represents will not be significantly diluted by a higher cost of living. Negative inflation is referred to as DEFLATION, where the cost of goods and services actually declines. If interest rates continue to fall and inflation follows suit and/or goes negative, bond funds are a candidate for the best investment for 2011. Some economists and professional money managers believe that this scenario could definitely happen.

On the other hand, interest rates are presently near historical lows due at least in part to the government’s efforts to keep rates low to stimulate a lackluster economy. The question is whether or not the powers that be and/or the markets will push interest rates up in 2011? When rates go up inflation generally does as well and this is a formula for losing money in fixed income investments like bond funds. Higher interest rates and inflation make the fixed income from their securities less attractive; and investors in the bond market send bond prices down by selling.

Income funds have been some of the best mutual funds over the past 10 years and three years when things have been dicey for stocks and stock funds. Don’t assume that this trend will continue. Watch the economic and business news. If interest rates continue to creep downward and inflation stays low or turns negative (deflation), bond funds could be your best investment for 2011 and beyond. If the opposite occurs it’s time to lighten up on, or avoid bond funds altogether.

In case you are caught being drunk behind the wheel your insurance rates will increase and you will most probably learn about a thing known as SR-22 to many. And it doesn’t matter what it’s called in your state – driving while being under influence or intoxicated – the result is the same. Your insurance rates rise dramatically even before you can actually drive a vehicle again.

The laws are different

Different states have different penalties regarding drunk driving, but in all states you will be denied of the right to drive for a period of time (starting with 30 days to 12 months). And in order to get your license back and drive again most states require you to present SR-22 form proving availability of necessary auto coverage. Such form can be presented by the insurance company unless your policy is lapsed, canceled or terminated.

Premiums will rocket sky-high

When time comes for taking the SR-22 form from your insurance company, the company will automatically put you in the “high-risk driver” category, which eventually means that your rates will go up. And by “go up” we mean double or even triple according to state you’re registered in. Of course, you can shop around as there are insurance companies with “high-risk” specialty.

SR-22 policies are not that accessible

Certain companies do not provide SR-22 insurance coverage, and if you’ll require one from them after being convicted in drunk driving, they are likely to cancel your policy. It will require you to address a company that provides SR-22, however your premiums will still be higher because you will already have a history of policy cancellation. However in some states, insurance companies have no right to cancel your policy before its term expires. So check your local laws to know better.

How long will it last?

This also depends on the state you live in, but the usual picture is that you will have to pay higher premiums for at least three years after being convicted. And if you’re caught driving under the influence again there will be more serious penalties.

It also depends on the condition you’ve been in while driving. In most states there are stronger penalties for increased alcohol blood levels, passengers (especially kids) in the car, damage to property or injury to people done and other factors involved.

How to avoid increased rates?

The most drastic measure to keep your auto insurance rates low is not driving at all after being convicted in drunk driving. Even if you were driving a car you don’t own you will still have to present a SR-22 form in order to restore your driver’s license.

Of course, there’s still the most effective way of keeping your auto insurance as it was. Simply don’t drive while being drunk, intoxicated, under the influence or any other altered state of mind. It will not only save you auto insurance but will save your and someone else’s life. If you’re messed up, call a taxi or ask your sober friend to drive. It’s not that hard, isn’t it?

Article by jekky

 Recently, the Tam who lives in Garden District to addTaiwan Power CompanyAs when he tells friends and family counseling, get a lot of advice: “Do not usually buy and drive on Saturdays to buy. Urban areas of severalMarketplaceAll around, see who is selling cheap, gifts and more! “”TVNow really cheap, flat screen less than 1000. “” Do not buy a flat screen, I bought that in 2004 Taiwan 1500, 2005 saw only 600, down too fast friends. Might as well buy a flat teeth of next year. “Each have their own reasons. Mr. Tan told reporters complained that the appliance is now also with the car like the price dropped lower and lower, gifts talks about sending more, and made shots that he did not know when we go. Buy back worth the? Indeed, the current consumer electronics market has been very active in Jiangmen, new products, new fashion endlessPromotionsSuccessive price reduction. Many consumers found thatHome appliance chainStores, many appliances, especially TV,Air conditioning, Refrigerators and other large products, signings and other promotional activities to catch up with a lot of money can be expensive. Such as a normal price of 3,299 yuan for aBrandFrequency fresh refrigerator, general manager of the signature by the price of straight down to 2,699 yuan, and then attached a number of gifts. Consumers sometimes find the same product promotion more than once, a fewGolden WeekAfter falling one after another over price, and the initial price may vary as much as several hundred dollars, so many consumers will be as “early buy is not worth” the idea of watching in the next, break a decision. That can act For “when shot,” this issue appliance practitioners are not the same attitude. 1DealersVery directly told reporters: as a whole, the best time to buy appliances are three Golden Week. Missed the golden week, better to wait until December, especially 12 months, late, as many dealers have a mandate, some people near the end of the year if not yet completed the task, they will engage in promotional activities to Chong Meng sales. A store manager, told reporters that the city is now home appliancesShoppingProfits have been weak, when people buy electric prices are not too bad, but is in no hurry to buy, you may wish to wait until a time when manufacturers engage in thematic activities, when shopping is more willing to bring down prices, because the price is a loss borne by the manufacturer. Another person in charge of a store is the view put forward: those who buy in the store, price promotions of cheap electrical appliances, always be on the market obsolete products, such as a 21-inch CRT is now engaged in activities, prices may be straight down to 500 yuan, it sounds exciting life; but the CRT is already two or three years ago, the product was. New listingLiquid crystalPlasma TV, On the refrigerator door or ramp-typeWashing MachineImpossible to carry out large deals, so I want to buy fashionable products, people need not wait. All businesses interviewed agree that, in order to attract tourists, lower prices, promotional offers activities like always rounds, and as technology development, the existing price of the product will always downward trend, if the lowest total time to arrive and then shot, almost unlimited should wait, so the public once the phase of the favorite appliance, the shots must mean shot. Value gifts do not need The past two years, gifts have become household appliances in the consumer market can not ignore the role. Buy Microwave get lunch boxes, buy send microwave refrigerator, buy air deliveryElectric fan, Buy flat screen flat panel to send…… What is more, through the activities of the opportunity to cooking oil, rice and other consumer goods put on the sales shelf. Jiang Hua Road has a store would attract a lot of “ulterior motives” of the customer, do not buy just queuing up to buy discounted electrical meters, although popularity is a boom in many, but the store has been roiled. The stores this explanation is that really too much trouble gifts, but the environment of the case, who dare not see them off, were less afraid to send customers not buy it, in fact can be gift is good but the gift too seriously, bartering is not worth it. Better to buy household appliances more energy transferred to the comparative performance, understand the market up, businesses can take the opportunity to transfer to professional sellingShopping guide, Store, or after-sales service up the environment.