Four keys to retire rich

By ECONOMICTIMES.COM

You work all your life in hope of a comfortable retirement. However, unless planned carefully, retirement can be all your nightmares coming true-your salary, the regular stream of income would dried up while expenses, such as health care and living, would have only shot up. Here are four simple keys to ensure your golden years are spent comfortably. 

1.Know how much to save: More than 24% of the 2,578 respondents to an online survey conducted by economictimes last year said they were saving less than 5% of their income for retirement. Another 25% are putting away 5-10% of their income for their sunset years. It is unlikely this will be enough to sustain their current lifestyles when they stop working. 

A 2012 study by the US-based Putnam Research Institute says that the fund selection, asset allocation and portfolio rebalancing do not impact the final portfolio as much as the quantum of savings. You should ideally be saving to cover 80-90% of your current expenses if you want a comfortable life after retirement. Anything less than that will require lifestyle compromises. Don't include EMIs, education and other children-related expenses in this calculation. This should just be the amount you and your spouse will need to sustain your desired lifestyle after you stop working. As mentioned earlier, the pattern of expenses will change-health care, insurance and transportation costs are likely to go up, but entertainment and clothing may come down. We assume that education and loans will no longer be a worry.

John Maxwell- The Secret to success

Top 10 Largest Oil Consuming Countries in the World

There are number of things that have their own significance and oil is considered as one of the most important and essential commodities around the globe. Within a few couple of years oil consumption by country has rapidly increased. And it is only why because all the types of transport, machines and their engines need the fuel to operate so it cannot be denied that without its availability no country can survive without fuel. As everyone knows that all the running industries, factories, transport and world economic system is running due to oil so no one can deny accepting it as the major and most important natural resource of the world. Energy utilization is biggest factor although it is not produced and found in all the countries around the world but it is being consumed all over. From last two decades statistics estimates for United States have shown remarkable increase in energy consumption and fortunately valuable oil resources growth percentage as well. As all nations have dissimilarity in their oil consumption and usage of different products such as petroleum, crude oil, diesel or gasoline.  We are mentioning the statistics list of top ten nations that are reported to be the largest oil consuming countries around the world prepared by government (U.S Energy information) and world fact book.

Which Country Exports the Most Oil

Even with the initiation of green economy, oil is still considered a precious commodity that has the power and ability to create the fortunes of different nations around the world. Number of Fuel markets have abundance of causes to be spooked. Libya is considered the home of Africa’s Crude oil reserves than all other African nations. Today no one can deny the importance of Fuel due to the world’s largest running commodity. There is no country having no fuel consumption but their production, import and export vary from each other. Currently Russia is the largest oil-producing country with more than 10,730,000 BB/per day and contributing to 12.65% in global fuel output. Russia has world’s leading Petroleum industry. It is the largest natural gas exporting nation in the world. Similarly it is considered world’s third largest energy-consuming nation too so by the figures of export, Saudi Arabia leads Russia exporting 7,635,000 barrels of refined oil each day.KSA produces 10.3 Million Barrels per day in totals - See more at:

Rank	Country	Oil Exports (BB/Day)
1.	Saudi Arabia	7,635,000
2.	Russia	5,010,000
3.	Iran	2,523,000
4.	United Arab Emirates	2,395,000
5.	Norway	2,184,000
6.	Iraq	2,170,000
7.	Kuwait	2,127,000
8.	Nigeria	2,102,000
9.	Canada	1,929,000
10.	United States	1,920,000

© WhichCountry.co.

Nigeria Recorded Highest Rates Among Oil-Producing Countries – AFDB

By Abiodun Oluwarotimi

Nigeria,Angola and Gabon recorded the highest rates among oil-producing countries with figures ranging from 5% to 7% while Equatorial Guinea saw growth fall below 1% in 2013 from above 5% in 2012, following the exhaustion of a major oil field, according to the 2013 operations results released by the African Development Bank Group (AfDB) yesterday in Kigali, Rwanda.

“In the case of Libya, socio-economic disruptions during the year prevented the rolling out of new investment, and led to growth falling below 1%. Africa recorded nearly 4% GDP growth in 2013, a two-percentage point decline compared to 2012″ the report also said.

The 3 myths about creativity in business

By Charles Andrew

Creativity is vital in business; far too important to be left to a special cadre of 'creative people'. Charles Andrew outlines three myths about creativity in business that impede success and three key steps to overcome it.

A business whose only ambition is to continue doing tomorrow what they did yesterday, will wither as both its competitors and customers change around it. The central role of creativity in business survival was recognized in an IBM survey of more than 1,500 chief executive officers from 60 countries. They reported that – more than rigour, management discipline, or even vision – successfully navigating an increasing complex world will require creativity. But despite the focus on creativity and the proliferation of good advice, the solution still seems to be illusive. Maybe this is because there are three underlying cultural beliefs about what creativity really is, who has it, and how it can be managed (or not) that are acting as unseen barriers.

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