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Retirement: Financial issues that everyone forgets about

November 30, 2017Finance

It’s meant to be one of the most relaxing periods of life, but if you were to survey the majority of retired people it would become clear that the post-work phase is anything but. Of course, things even out over time, but the “one big holiday” that some people assume it is couldn’t be further away from the truth.

Today’s post is going to take a look at retirement from a financial perspective. While it might appear somewhat negative in places, hold on tight and you might uncover some information that saves you a lot of stress and hassle when you do finish working for good.

Issue #1 – Life after death

Let’s start with something of a morbid topic, but one that can serve you well if you plan comfortably ahead. Some people may believe that their funeral isn’t something which should really concern them; after all, they won’t be there to oversee it.

However, those that are left to pick up the pieces might have a lot on their mind. The average cost of a funeral has now surpassed £4,000, with this figure only increasing.

Sure, this is something that always has to be paid for, but the way in which you plan ahead can make a monumental difference. For example, funeral plans allow you to pay today’s rate, and this means that there won’t be any nasty surprises for your family when the time does come. Its small thoughts like this that can make the world of difference.

Issue #2 – The “average lifespan”

This is probably the biggest problem that we will uncover. When you plan for retirement, you generally do so with an average lifespan in mind. At the moment, this is around 80 – but this might not necessarily relate to you.

In other words, this is just a number – nobody can guess how long you will live for. It’s known that the average lifespan is on the rise, so what if you live to 100? How will your finances shape up then?

If you are serious about living a peaceful retirement, with no concerns about your bottom line, its questions like this which need to be answered.

Issue #3 – The needs of your family

In truth, an entire dissertation could be written about this as it spans so many different areas.

Firstly, while your major expenses such as your own mortgage might be over, it has become more common than ever for children to use their parents as the main borrower when they fund their own property. While this isn’t something you are obliged to do, it’s at least an area to think about.

Next, and this is something where obligations do enter the picture, is your partner or any other elderly relatives that you take care of. This is the time in life where additional care might be needed and unfortunately, these costs can spiral quickly. There’s been a lot in the news about them over recent times and it’s something that a lot of people just don’t consider when it comes to their standard pension plan and what it should be covering.

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January 11, 2023DIY / Home Improvement

How to Restore Antique Glassware

Getting your old antique glasses to look like new ones can be complicated. It involves many steps, from cleaning and resilvering to analyzing the refractive index and displaying the glasses.

Cleaning

Knowing how to clean your ancient glass is essential for preserving its beauty, whether you are a collector or want to exhibit your prized glassware. However, the process can be difficult and cause damage. If there are any damages, you should get them fixed right away by glass repairs Houston, TX specialist.

The correct way to clean glass is to use a soft, non-abrasive cleaner. For example, dish soap, distilled water, and dishwashing liquid can be used. These ingredients are gentle on metals and are effective at breaking up dirt and grease.

The best way to clean antique glass is to use a soft, lint-free cloth. Dip it into a bowl of distilled water and gently wipe down the surface. You can also soak a glass in warm water and dish soap solution.

If the dirt is stuck on the glass, you can use mild acid or vinegar to break it up. You can also use chamois leather or well-rung-out chamois to remove stubborn stains.

Analysis of Refractive Index

During the past centuries, many useful articles were produced from glasses. Besides the standard measurements of the density and bending strength, the analysis of the refractive index of a glass sample is also important. This information helps determine if the material is suitable for the intended use.

Several methods are available in the market which provides indirect measurements of the refractive index. Some of them require the sample to be immersed in liquid before measurement. Others are based on the structural parameters of the sample. However, these methods limit the accuracy of the samples’ refractive index. Therefore, the proposed method aims to directly measure glasses’ refractive index without requiring structural parameters.

This method has two advantages over traditional methods: measurement accuracy and environmental vibrations robustness. The accuracy of refractive index measurement can reach 5 x 10-4.

Removal of Old Silver

A cleaning solution can be a good way to remove old silver from antique glasses. The solution works quickly and doesn’t harm the environment.

A good solution is made of food-grade ingredients. You can find this product at many fabric stores. It would help to have a large container to soak your silver in.

You can also apply a baking soda bath to soften the tarnish. Again, it would help if you used aluminum foil to make this work. You can then polish the silver with a soft cloth.

Some people also use toothpaste. If you do, use a microfiber cloth to rub it onto the silver. Once the tarnish has been removed, rinse the silver with clean water. If the tarnish is still stubborn, you may need to apply more baking soda.

Resilvering

Whether you have an antique mirror or a glass piece, try resilvering it. Silvering is a chemical process that applies a thin layer of silver to the surface of a glass. It is a technique that has been used for centuries.

You should be aware that resilvering your mirror can be expensive. It is common for mirror resilvering to cost around $15 per square foot.

This process is a complicated one and requires the use of toxic chemicals. However, resilvering a mirror is well worth it.

The first step to resilvering your mirror is to clean it carefully. You should also remove the protective silver backing. This will allow you to reapply the silver layer.

Next, you need to apply the silver leaf. You can apply it in several places on the mirror. This will help to cover any scratches or cracks in the silver layer. You should use a soft felt cloth to smooth out any wrinkles.
January 11, 2023Finance

5 Tips for Investing in Fixer-Upper Properties

Fixer-upper properties can be a great way to get into the real estate market. They can be purchased for much less than their full market value, and the profit potential is huge. 

However, investing in fixer-upper properties can also be tricky. There are many costs that you may not be aware of, and there are a lot of hidden problems that could arise. 

Fortunately, today’s guide is here to help. We’re now going to look at some of the best tips for investing in fixer-upper properties. 

Know what you’re getting into 

The first and most important tip is to make sure that you know what you’re getting into. Investing in a fixer-upper property is a big commitment, and it’s important to understand all the risks and rewards that come with the process. 

This means researching and finding out as much as possible about the property before you make a purchase. You should also factor in the potential costs of renovations, materials, and labour. 

Get a professional inspection 

Before making a purchase, it’s important to get a professional inspection. This will help identify any potential issues with the property and ensure it’s a worthwhile investment. 

It’s also a good idea to get a contractor to look over the property as well. This will give you a better idea of the costs associated with the renovations and help identify any potential issues before you make a purchase. 

Budget for hidden costs 

The next tip is to budget for hidden costs. This means taking into account all of the potential costs that may arise during the renovation process. 

This could range from the cost of materials and labour to any permits or even landlord insurance that may be required if you are letting in the interim. It’s crucial to factor in any potential hidden costs before making a purchase, so you’re not caught off guard later. 

Secure financing

It should also go without saying that you will need to secure financing before you make the purchase. This will ensure you have the money you need to complete the project and make a profit. 

There are several different financing options available, so make sure you research and find the best one for your situation. 

Be prepared for the market

Finally, it’s important to be prepared for the market. Once you’ve completed the renovations, you will need to find a buyer for the property. This means researching and finding out as much as possible about the market to get the best price for your property. On some occasions, this may even involve holding tight for a few months – just so the market can settle and you can get the best price for all the renovations you have invested in. A quick look at the recent sold prices in the area and conversations with local estate agents will help you no end.