Students Of Success

When you take your leave from work you do not have to take out your pension at that point in time. As an option, you may choose to suspend acquiring an annuity until the mature old age of seventy-five years old & if you do so you may find you will get a greater deal. It’s called income drawdown.

When you are aged between 50 and seventy-five years old you are entitled to defer the purchase of your retirement annuity from an insurance firm. Instead, you are able to draw as much as one-hundred-and-twenty percent of the retirement fund that could have been originally purchased using Government Actuary rates, & leave the remaining capital protected until you want it. On your part, all you have to do is to guarantee that you get a pension annuity by the time you get to seventy five.

Although, what would take place if you wished to take the income draw down selection, & then passed on? If this did occur then your surviving spouse or those legally responsible would have three options: either accept a lump figure, take away tax at thirty five percent, or alternatively keep on going with income removal, or procuring an annuity pension with the investments. Your present other half has until they get to sixty to postpone the acquisition of an annuity, but no benefits are authorised to be given in the meantime.

Why opt for income drawdown? Well above all because it could result in you earning a more profitable retirement salary from your current pension by doing so. Secondly, you can choose exactly when you want to purchase the pension annuity, hence if you retire at an occasion when the annuity rates are low, waiting could be a wiser decision. If the residual investments increase as expected, then together with the reality that annuity rates mature with age, you may ultimately be able to obtain an improved pension than you might have received originally.

Furthermore, also means that when you depart this world your significant other or those legally responsible are supported economically, because they are lawfully entitled to the outstanding assets, as stated above.

There are hazards subsequently though. If investment performance on the remaining stocks & shares is below par, the level of retirement income payable may plummet. And it is essential to be aware that there’s no guarantee that the pension obtained will in the end be higher than the full amount that could have been purchased at the beginning. First Place Financial has more info about Income Drawdown. Visit the website today.

Why is goal setting important? Because without goals you don’t go anywhere!

Whenever you see anything worthwhile being done anywhere, it’s because someone is behind it with a passion, a belief and a goal!

When it comes to your personal life and your business, goal setting can make the difference between mediocrity and excellence and accomplishment.

Much is said about goal setting.

But just how do you set and accomplish goals?

Is there some goal setting formula or strategy that can be employed to increase your chances of success?

Thankfully, YES!

What follows is a blueprint for success in goal setting.

The Goal Setting Blueprint

STEP 1. Develop a DESIRE to achieve the goal. The desire must be intense. How do you intensify desire? Sit down and write out all the benefits and advantages of achieving your goal. Once the list goes between 50 and 100 your goal becomes unstoppable.

STEP 2. WRITE your goal down. Once it goes into writing it becomes substantial and starts etching itself into your subconscious.

STEP 3. IDENTIFY 1) the obstacles you will need to overcome, 2) the help you will need to acquire, e.g. knowledge, people, organizations. In each case write them out in a clear list and analyze them.

STEP 4. DEADLINE your goal. Analyze where you are now in relation to the goal and then measure how long you will reasonably need to complete the goal. Then set the latest outside date.

STEP 5. Take all the details of steps 3 and 4 and make a PLAN. List all the activities and prioritize them. Rewrite the list, optimize it, perfect it.

STEP 6. Get a clear MENTAL PICTURE of the goal already accomplished. Make the mental image crystal clear, vivid in the mind’s eye. Play that picture over and over in your mind.

STEP 7. Back your plan with PERSISTENCE and resolve. Never, never, never give up even when you hit setbacks.

Follow those steps religiously and you will be successful at goal setting.

DANGER - You can read this and think, “That sounds interesting. I must try that sometime”.

Notice the title of this article - “Goal Setting: The Blueprint”.

What is a blueprint? It can refer to a negative used in photography for architectural plans, maps or mechanical drawings. It can also mean a detailed plan or program of action.

SO - Take these 7 steps and rewrite them on a card or in a notebook for frequent reference. Keep them on your computer in a note on your desktop.

Use the 7 steps as a BLUEPRINT. Keep checking your goal against the 7 steps frequently to measure your progress and keep yourself on track.

Then and only then will this article make a difference to your personal and business life.

Now the question is, what goal are you going to set today?

What goal can you set for your business which is going to lift it to new levels?

What goal setting are you going to implement in your personal life which is going to have a positive effect on you and your loved ones?

Take some time now and THINK about it!

Then? JUST DO IT!

This goal setting overview is the first part of a 20 minute goal setting tutorial. For more information on each of the seven steps outlined above, go to:
http://www.about-goal-setting.com