Australian cricket board announced that there will be a media conference of Brett Lee today (13th July 2012 ) to discuss about Brett Lee's future International career. These days he is undergoing a calf injury and that has forced him not ta take part in Australian team in the England tour. Australian fast bowler, has suffered many injuries during his career and he is 35 now. Brett Lee is one of the best fast bowlers of Australia and he is the fastest bowler in the cricket history.
In achieving wealth, how you invest isn't nearly as important as how much you save.
Say you're 40, have $200,000 saved, with 60% in stocks, and are putting away 10% of a $100,000 salary (including company match). You have a 52% chance of retiring with 70% of your pre-retirement income, according to T. Rowe Price.
Boost your stock stake to 80%, and your chances improve modestly, to 57%. But if you boost your savings to 15% instead, you get to 69%
Message: Stretch to save the most you can.
2) Make a family decision
62% of couples don't agree on their expected retirement age.
The age at which each of you will retire determines how much money you'll need. If you're among the multitude of couples that the Fidelity survey (cited above) found were not on the same page, make some time to talk with your partner about when you'll quit and what you'd like your life to be like.
3) 3 ways to get out of debt
ThinkstockCredit cards are almost never "good" debt, yet professional and managerial workers -- who theoretically should know better -- still carry a median balance on plastic of $3,300, according to the Federal Reserve's most recent Survey of Consumer Finances. Even such a small amount can be deleterious, since you're paying around 15% in interest.
Three ways to get out of the red:
Just pay it off. Behavioral research finds, oddly, that people often save in cash while carrying credit debt. That's a -15% rate on credit vs. 0.13% on savings. See the problem? If you've got enough cash to cover the balance, use it.
Get a 0% card. Interest-free balance-transfer offers are back in a big way. If you think you'd be able to pay off your total debt within 15 months, get one of these cards, and bank what you would have paid in interest. Break out the tools. Can't pay your debt in 15 months? Use the tools at creditcards.com/calculators to come up with an aggressive schedule to erase the debt. The sooner your IOU is wiped away, the sooner you're back on the wealth-building track.
4) Fill up your 401(k)
Only 12% of 401(k) investors stash away the maximum amount allowed -- $17,000 in 2012 for those under 50 -- reports Vanguard. In fact, the average investor puts in 7.1% of pay, basically just enough to get the employer match.
Need motivation to pump up your percentage?
The value of your retirement plan at 65, starting at 40 with $0 and saving 7.1% of $100,000 salary: $614,000. If you saved the max, the value of your plan at 65 and starting at 40 with $0, would be $1,300,000.
Notes: Assumes 3% annual raises, 7% annualized return, and the 2012 maximum of $17,000.
But also save outside it. Those earning higher wages may need to save more than a 401(k) allows. Next best vehicle: a Roth IRA. The money is saved after tax, so withdrawals in retirement are tax-free. Couples with adjusted gross income up to $173,000 can add $5,000 in 2012 (partial contributions allowed up to an AGI of $183,000). Save the max for 30 years, and you'll net $505,400, assuming 7% annualized returns.
Don't forget to play catch-up. Who says there are no benefits of aging? Folks 50 and up can stash an extra $5,500 in a 401(k) and $1,000 in an IRA per year. But only 32% of those eligible take advantage, according to a TD Ameritrade poll. Too bad, since if you play catch-up on both a 401(k) and IRA each year for a decade, you'll end up with about $96,000 more in your account at 60.
5) Get the mix right
Source: Portfolio Solutions7) Know your number
ThinkstockPeople who have calculated the total amount they'll need to retire have more saved than those who haven't, the Employee Benefit Research Institute recently found.
Not among the 42% of workers who've run this math? It's easy enough to do: Plug your info into the "How much will you need for retirement" calculator.
Strategize, don't improvise.Go a step beyond simply knowing the target -- know how to hit it.
A study last year conducted at the University of California at Irvine found that people who had a specific plan for their savings amassed between 28% and 85% more than those who didn't. "A formal plan makes you a more disciplined saver," says Chicago financial planner Cicily Maton. The "What you need to save" tool can help you determine how much to put away.
8) Money magazine readers speak up
Get progress reports
"We keep track of our net worth using an Excel spreadsheet, and we put all our monthly updates in a binder so we can look back on how far we've come. This motivates us to keep saving and investing and to keep our expenses to a minimum." -- Lori Watts, Allen, Texas
Make your savings untouchable
"I keep a separate savings account that I'm not able to view with my ATM card. I can only see it online. Doing this ensures that I do not take money out of the account -- it's out of sight, out of mind." -- Jay Albino, Stony Point, N.Y.
9) Set goals, but not too many
ThinkstockPeople who set fewer, more integrated financial goals saved nearly five times as much as those who set many unrelated ones, a recent study from the University of Toronto found.
Reason: With too many things to save for, you spend more time weighing priorities and less time taking action.
Limit yourself to three main goals -- say, retirement, Junior's college, the emergency fund -- then articulate a theme that describes them, like "improving my family's financial security."Yes, in 2008-09, investments plunged en masse. But over time assets tend to perform differently. So a diversified mix -- like the to the left, from Rick Ferri of Portfolio Solutions -- reduces risk to keep you on track.
6) Get a pro to help with the plans
Participants in 401(k) plans who receive some form of guidance earn annual returns an average three percentage points higher than those who don't, according to Aon Hewitt and Financial Engines. You may be able to get financial advice for free; an increasing number of companies offer it as a benefit. Ask HR.
Facebook changes users’ email addresses to their own
How many people out there use Facebook as their primary email service? Although the answer is “not many,” Facebook is trying to change that by making its users’ Facebook email addresses the primary ones displayed on their profile pages. Yes, that means people looking at users’ accounts won’t see their Gmail, Hotmail or Yahoo accounts anymore and will only see the seldom-used Facebook account.
Thankfully, as LifeHacker demonstrates, there is a way to change this: First, go to the “Update Info” button on you profile. From there, scroll down to contact information and click “edit.” All you have to do at this point is change the Facebook email address to “Hidden from Timeline” and then change the primary email address to “Show on Timeline” and voila! The regular email is displayed on your profile again.
“ Just so absolutely estatic over this win! it is the first time i have won a global gold award competing with so many countries across the globe! Firstly i would like to thank my parents for blessing me with this talent and encouraging me to make music, my studio engineer Shenal Maddumage and all the people behind me who continue to support my every musical endeavour. Thanks Siva and Meera for this opportunity to showcase Asian talent on a global scale. I would also like to give the biggest shout out to my fans! you guys rock!! thanks for keeping me on top! Asia is going places, i am just glad that i am in the race waving the Sri Lankan flag high! ” – Ashanthi
The Reality TV diva finally got a dose of real reality when she was forced, in a court of law, to expose the truth, that her marriage to Kris Humphries was a complete sham.
Kardashian will have to pay millions to her former husband of two months after she made him believe she was in love with him to stage a marriage. This is nothing compared to the money she raked in selling rights to the wedding and the advertising revenues.
At this stage, it looks like the whole Kardashian crowd was in on the swindle that surely must be considered by the courts as fraud. There is no news yet as to whether criminal charges will follow. Kris will be financially compensated but what about the public who bought the whole escapade lock, stock and barrel? The Kardashian’s should hang their heads in shame.
Hm, does this make Kim the highest paid prostitute in history?
Last week we showed you how Google created a self-driving car to drive a blind man to Taco Bell, presumably to get a Doritos Taco. This futuristic stunt caught a lot of media attention, but is soon to be overshadowed by another car of the future. Aerospace company Terrafugia has just completed test flights of its Transition flying car.
Transition is a street legal two-seater automobile that turns into a propeller plane that runs on regular unleaded gasoline.
The company has been developing the idea for a few years now, and last July the prototype was cleared for production by the U.S. National Highway Safety Administration. They took their first official test flight on March 23 at Pattsburgh International Airport in Plattsburgh New York. During the eight minute flight they reached an altitude of 1400 ft.
“The successful first flight of this Production Prototype Transition marks a critical move toward initial production and first delivery,” said COO Anna Mracek Dietrich. The company plans to continue tests in preparation for commercial launch of the vehicle, which is expected to be released within the next year. In all, six phases of testing are planned to insure compliance with the Light Sport Aircraft standards.
Terrafugia CEO/CTO and co-founder Carl Dietrich had this to say: “The first flight of the Transition Production Prototype is a major milestone for Terrafugia. With this flight, the team demonstrated an ability to accomplish what had been called an impossible dream. We look forward to continuing to show that the challenges of bringing a practical street legal airplane to market can be overcome. This is a very exciting time for Terrafugia. We are on our way up – literally and figuratively!”
The test pilot for the Transition had high praise for the vehicles handling. According to Chief Test Pilot Phil Meteer, “It’s a remarkable vehicle both on the road and, now, in the air.”
Be prepared to spend a pretty penny on one of these aerocars. Early price tag estimates are at $230,000 with the company already taking down payments of $10,000 for the future release. The plane-car also requires a light-aircraft license to fly, which will require additional funds for training hours.
If you would like to see the Transition Production Prototype in person, go to the New York International Auto Show this weekend at Jacob Javits Convention Center in New York, April 6 – 15th.
marina bay sandscomplex consists of three hotel towers connected by the magnificent sands skypark. designboom's editors had the great opportunity to stay and test out the newly opened hotel. with over 2,500 rooms and suites, it is the biggest hotel in singapore. the sands skypark with pool is built at the height of 200 meters. its lush, landscaped gardens are home to 250 trees and 650 plants and offer a total of 12,400 square meters of space - big enough to fit three football fields. hotel guests have the exclusive use of a 150-meter infinity swimming pool, the world’s largest outdoor pool at that height.
