Archive: November, 2009

The recent decline in the value of dollar has again put the dollar in the line of fire as a reserve currency. Currently the United States Dollar is the most widely held reserve currency in the world. What is a reserve currency? A reserve currency or anchor currency is a currency which is held in significant quantities by many countries in their foreign exchange reserves. It also tends to be the international pricing currency for products traded on a global market such as oil and gold. Holding the reserve currency permits the holding country to purchase the commodities at a marginally lower rate than other nations, who must exchange their currency with each purchase and pay a transaction cost. It also permits the government holding the currency to borrow money at a better rate, as there will always be a larger market for that currency than others. Currently with an average of two thirds  [...]

Retirement is a phase of life where an individual bears the fruit of his saving which he has toiled for in the 20-30 years of his working life. It is the golden phase of one’s life provided it is well planned and provided for. Financial planning at this stage of life assumes a totally different meaning. Below are enlisted few steps in retirement planning: Take a stock of where you are To enjoy a comfortable retired life it is important that you start planning for retirement from the time you are in your 30’s.First of all take Stock of where you are and estimate what your requirements would be in say the next 20 years of your life. Start by making a realistic estimate of expenses during retirement. You can estimate this by using a percentage of your current income. However this may not be very accurate as it doesn't take into account inflation and financial situations. A more reliable  [...]