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Compounding interest feels like magic especially when your money grows every year. If you invest $1000 at 5% simple interest for 15 years, you'll end up with the $1000 principal plus $750 in interest. That's $1750! If, instead, you invest at 5% annual compound interest, you'll have about $2079. Compounded monthly, you'll have about $2114.

Retirement income funds are a specialized type of mutual fund. They automatically allocate your money across a diversified portfolio of stocks and bonds, often by owning a selection of other mutual funds. The investments are managed with the goal of producing monthly income which is distributed to you.

The Target Retirement Income Fund is designed for investors already in retirement. The fund seeks to provide current income and some capital appreciation by investing in 5 Vanguard index funds. The fund holds approximately 30% of assets in stocks and 70% in bonds. This is also the allocation that all Target Retirement Funds are expected to assume w

1.Pensions are the easiest retirement plans because little is required of you. 2. Defined Contribution Plans. 3. Roth IRAs. 4. Traditional IRAs. 5.SEP IRAs. 6. Nonqualified Deferred Contribution Plans. 7. Guaranteed Income Annuities. 8. Cash-Value Life Insurance Plan.

For example, certificates of deposit (CDs), money market accounts, municipal bonds and Treasury Inflation-Protected Securities (TIPS) are among the safest types of investments. Certificates of deposit involve giving money to a bank that then returns it with interest after a certain period of time.

It does not require any formal or academic qualifications to become a life coach, but potential clients might look upon more favourably if person has an industry specific qualification such as the life coaching diploma or level 3 with official certification.