| Saving for the Future is Easier Than You May Think
If you're one of the millions of consumers receiving a tax refund or bonus this time of year, you may be uncertain about the best way to spend or save your hard-earned dollars. What's the best way to begin a savings plan or invest for the future? According to experts, the appropriate course depends upon life circumstances, including financial condition, short-and long-term goals, and the needs of your dependents. "Many people think of their tax refund as extra spending money, but they should consider setting at least a portion aside for the future," said Donna DeMaio, president of MetLife Bank. "Extra money represents an opportunity to start planning for a retirement or saving for a child's education. Saving is a critical issue, because financial advisors warn that many Americans are living paycheck to paycheck, and endangering their ability to live comfortably in their golden years."
Here are some options to consider: Pay off debt.
Support for veteran in pension campaign
Last week, The Argus revealed Edward Cope, 67, of Horsham Close in Brighton had served nine years in the army but wasn't entitled to a pension. He signed up on his 18th birthday and served in Africa, Germany and Cyprus. Ministry of Defence policy stated no servicemen or women who served between 1949 and 1975 would receive any pension unless they had completed a full military career of 22 years. Mr Cope is among thousands of former soldiers who are demanding they receive money for the time served. The campaign has been backed by a number of Sussex MPs including Michael Foster, Des Turner and Peter Bottomley. .
Residents ordered out of retirement villages
Residents of Village Life retirement homes have been told to vacate their units by May 28, after the company was taken over by MFS Diversified Trust. The residents received letters about the eviction yesterday, the ABC is reporting. Village Life told the group that the new home owners would be taking vacant possession at that time. The homes are in Bathurst, Dubbo, North Tamworth and Wagga Wagga in New South Wales, Launceston in Tasmania, Mandurah in Western Australia and the rest in the Victorian towns of Mildura, Shepparton and Warrnambool. The new owners say it is not up to them to keep the retirement homes going. MFS managing director Craig White told the Gold Coast Bulletin his company was not capable of running a retirement village.
Aguirre's pension arguments debated
Lawyers doing battle over San Diego's pension benefits argued yesterday over City Attorney Michael Aguirre's desire to target nearly 20,000 current and former city employees in an attempt to reduce the city's retirement debt. The parties returned to court after a three-month break, in which the future of the case was supposed to take shape, following Aguirre's loss in its early stage last year. That decision left most of the benefits immune from challenge, but attorneys for four employee groups accused Aguirre of ignoring the ruling in his first crack at crafting an amended suit to focus on individuals whose pensions still could be reduced. Aguirre acknowledged that he expects the field to be trimmed, but he asked the court to allow him to proceed without serving anyone.
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