How to Calculate Bond Value

A bond is a debt security that pays a fixed amount of interest until maturity. When a bond matures, the principal amount of the bond is returned to the bondholder. Many investors calculate the present value of a bond. The present value is one of several factors an investor may consider before buying the investment. A bond’s present value is based on two calculations. The investor computes the present value of the interest payments and the present value of the principal amount received at maturity.

EditSteps

EditAnalyzing Bond Basics

1. Consider how a bond works, and why bonds are issued. A bond is a debt instrument. Entities issue bonds to raise money for a specific purpose. Governments issue bonds to raise capital for public projects, like a road or a bridge. Corporations issue bonds to raise money to expand their businesses.^[1]
   • All of the features of a bond are stated in the bond indenture. Bonds are issued in multiples of a $1,000. Assume, for example, that IBM issues a $1,000,000 6% bond due in 10 years. The bond pays interest semi-annually.
   • $1,000,000 is the face amount or principal amount of the bond. That is the amount that must be repaid by the issuer at maturity.
   • IBM (the issuer) must repay the $1,000,000 to the investors at the end of 10 years. The bond matures in 10 years.
   • The bond pays interest of ($1,000,000 multiplied by 6%), or $60,000 per year. Since the bond pays interest semi-annually, the issuer must make two payments of $30,000 each.
2. Review how an investor can profit from owning a bond. Using the same example, keep in mind that dozens of investors may buy a portion of the $1,000,000 bond issue. Each investor will be paid interest twice per year. An investor will also receive their original investment (principal or face amount) when the bond reaches the maturity date.^[2]
   • Many retired people buy bonds because of the predictable stream of income from the interest payments.
   • All bonds are rated, based on their ability to pay interest and repay principal on a timely basis. A bond with a higher rating does not have to pay the same amount of interest as a bond with a lower credit rating.
   • A bond with a lower rating must compensate investors for taking more risk. They do that by offering a higher rate of interest.
   • Assume that IBM and Acme Corporation both issue a bond due in 10 years. IBM has a high credit rating and offers a 6% interest rate. If Acme has a lower rating, the company will have to offer a rate higher than 6% to attract investors.
3. Go over present value. To compute the value of a bond at any point in time, you add the value of the interest payments plus the value of the principal you receive at maturity. However, an investor should consider the present value of those payments to calculate an accurate value for the bond.^[3]
   • Present value adjusts the value of a future payment into today’s dollars. Say, for example, that you expect to receive $100 in 5 years. To find out what the $100 payment is worth today, you would compute the present value of $100.
   • The dollar amount is multiplied by a minimum rate of return. You may also see the rate described as the discount rate.
   • An investor can determine the discount rate using several different approaches. The discount rate may be your estimate of the rate of inflation over the remaining life of the bond. Your discount rate may also be a minimum expected rate of return. The minimum expectation is based on the bond’s credit rating, and the interest rate paid by bonds of similar quality.
   • Assume that you decide on a 4% discount rate for the $100 payment due in 5 years. The discount rate is used to discount (reduce) the value of your future payments into today’s dollars. In this case, you’re calculating the present value of a single sum of money.
   • You can find present value tables on the Internet, or simply use an online present value calculator. If you use a table, you will locate the present value factor for a 4% discount rate for 5 years. That factor is .822. The present value of $100 is ($100 X .822 = $82.20).
   • The present value of your bond is (present value of all interest payments) + (present value of principal repayment at maturity).

EditUsing Present Value Formulas

1. Use the concept of an annuity to calculate the value of your interest payments. An annuity is a specific dollar amount paid to an investor for a stated period of time. The interest payments on your bond are considered a type of annuity.^[4]
   • To calculate the present value of your interest payments, you calculate the value of a series of equal payments each year over time. If your 10-year, $1,000 pays 10% interest each year, for example, you would earn a fixed amount of $100 per year for 10 years.
   • The formula for present value requires you to separate your annual interest payments into the smaller amounts you receive during the year. If, for example, your $1,000 bond pays interest twice a year, you would use two payments of $50 each in your present value calculation.
   • The sooner you are able to receive any payment, the more valuable it is to you. If you receive $50 in June and $50 in December, for example, those payments are more valuable than receiving the entire $100 in December. You have the opportunity to use (or reinvest) $50 without having to wait until the end of the year.
2. Apply the present value of an annuity (PVA) formula to your interest payments. The formula is PVA = I[1-(1+k)^-n]/k. The variables in the formula require you to use the interest payment amount, the discount rate (or required rate of return) and the number of years remaining until maturity.^[5]
   • Assume that a bond has a face value of $1,000 and a coupon rate of 6%. The annual interest is $60.
   • Divide the annual interest amount by the number of times interest is paid per year. This calculation is I, the periodic interest paid. For example, if the bond pays interest semi-annually, I = $30 per period. Each period is 6 months.
   • Determine discount rate. Divide the discount rate required by the number of periods per year to arrive at the required rate of return per period, k. For example, if you require a 5% annual rate of return for a bond paying interest semi-annually, k = (5% / 2) = 2.5%.
   • Calculate the number of periods interest is paid over the life of the bond, or variable n. Multiply the number of years until maturity by the number of times per year interest is paid. For example, assume that the bond matures in 10 years and pays interest semi-annually. In this case, n = (10 X 2) = 20 interest-paying periods.
   • Plug in I, k and n into the present value annuity formula PVA = I[1-(1+k)^-n]/k to arrive at the present value of interest payments. In this example, the present value of interest payments is $30[1-(1+0.025)^-20]/0.025 = $467.67.
3. Input the variables and calculate the present value of the principal payments. The present value of the interest payments was an annuity, or a string of payments. The principal is a single repayment to the investor at maturity.^[6]
   • If, for example, you own a $100,000 bond due in 20 years, you will receive a single payment of $100,000 20 years from now. You use a discount rate to discount (reduce) that single payment into a value today.
   • The formula uses some of the same values you used in the annuity formula. Use the annuity formula first then apply those same variables to the principal payment formula.
   • Plug in k and n into the present value (PV) formula. Use the formula PV = FV/(1+k)^n to arrive at the present value of the principal at maturity. For this example, PV = $1000/(1+0.025)^20 = $610.27.
   • Add the present value of interest to the present value of principal to arrive at the present bond value. For our example, the bond value = ($467.67 + $610.27), or $1,077.94.
   • Investors use the present value to decide whether or not they want to invest in a particular bond.

EditVideo

EditRelated wikiHows

• Invest in Bonds
• Discount Cash Flow
• Calculate Bond Value in Excel
• Calculate Carrying Value of a Bond
• Calculate Bond Value and Current Yield
• Calculate Yield to Maturity
• Calculate Bond Discount Rate

EditSources and Citations

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21 Things You Need If You Love Pigs

Think outside the piggy bank.

Jenny Chang

These dainty lil' salt and pepper shakers.

Get them from Terrain.

shopterrain.com

This winged-pigs dress.

Get it from Dolls Kill.

dollskill.com

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Guide Dog Puppies Are Being Trained With These Adorable Mini Harnesses

Tiny harnesses for tiny pups.

The Southeastern Guide Dog school in Palmetto, Florida, have an adorable system to train budding guide dogs: mini puppy harnesses.

The tiny harness are placed on the Labrador, Golden Retriever, and Goldadors (Labrador and Golden Retriever mix) puppies so they can get used to the feel of the harness that connects them and their owner.

The Southeastern Guide Dogs

"From the time they are born until they are paired with their forever handlers, our puppies soak up a reference library of experiences. This includes getting accustomed to wearing a harness that will someday provide a lifeline for someone who needs them."

The Southeastern Guide Dogs

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How to Know if You Have Bipolar Disorder

Bipolar disorder is a type of mood disorder affecting somewhere between one and 4.3 percent of the US population.^[1] It commonly manifests in periods of elevated mood known as mania. These manic episodes alternate with a depressed mood. Bipolar disorder often has an early onset. Research has shown that 1.8% of children and adolescents merit a Bipolar diagnosis.^[2] Typically though, the disorder is diagnosed around the late twenties or early thirties.^[3] This article will help you determine whether you, or people you care about, might have bipolar disorder.

EditSteps

EditIdentifying the Symptoms

1. Recognize the signs of mania. During a manic period, feelings of euphoria, creativity, and heightened awareness are common.^[4] Manic periods may last a few hours or stretch on for days or weeks.^[5] The Mayo Clinic describes the following signs of mania:^[6]
   
   • Having a feeling of being "high," so high, in some cases, that one feels invincible. This is often accompanied by the feeling that one has special powers or is godlike.
   • Dealing with racing thoughts. Thoughts may jump from subject to subject so quickly that it's difficult to keep up or concentrate on one thing.
   • Talking so quickly that others can't make sense of what one is saying, and feeling jumpy and restless.
   • Staying up all night or sleeping for only a few hours at a time, but never feeling tired the next day.
   • Exhibiting reckless behavior. During a manic episode, a person might sleep with several people and not use protection. He or she may gamble large amounts of money or make risky business investments. An individual might also spend money on large, expensive items, quit a job, and so on.
   • Exhibiting extreme irritability and impatience with others. This can escalate into starting arguments and picking fights with people who don't go along with one's ideas.
   • In rare cases, delusions, hallucinations, and visions can occur (e.g. believing to hear the voice of God or an angel).
2. Know the symptoms of bipolar depression. For those with bipolar disorder, the periods of depression are longer and more frequent than periods of mania. Watch for these symptoms:^[7]
   
   • An inability to experience pleasure or joy.
   • Feelings of hopelessness and inadequacy. Feelings of worthlessness and guilt are also common.
   • Sleeping more than normal and feeling tired and sluggish all the time.
   • Gaining weight and having changes in appetite.
   • Experiencing thoughts of death and suicide.
   • Note that bipolar depression often looks a lot like Major Depressive Disorder (MDD). A qualified professional can differentiate between the two disorders. He or she will look at the patient’s history of mania and severity of manic episodes.^[8]
   • The medication used to treat MDD is often not effective for treating bipolar depression. It also is often accompanied by irritability and mood swings that aren't exhibited by those with MDD.^[9]
3. Understand the signs of a Hypomanic Episode. A Hypomanic Episode is an abnormally and persistently elevated mood that lasts for four days. It can also include irritability and other symptoms.^[10]Hypomania is different from a manic episode because it is usually less severe. Watch out for:^[11]
   
   • Feelings of Elation
   • Irritability
   • Inflated self-esteem or grandiosity
   • Decreased need for sleep
   • Pressured speech (speech that is rapid and intense)
   • Flight of ideas (when one’s brain seems to move rapidly from one idea to another)
   • Distractibility
   • Psychomotor agitation, such as bouncing your leg or tapping your fingers, or an inability to sit still
   • With hypomania, an individual may not have problems in their social or work life. This condition typically does not result in hospitalization. Someone experiencing Hypomania might feel elated, and have an increased appetite or sex drive. But, he or she would likely still be able to go to work and manage ordinary tasks without many, if any, negative consequences.
   • Someone in a Hypomanic episode can usually complete work tasks. He or she should also have appropriate (though perhaps intense) interactions with coworkers. With full mania, regular tasks at work would be difficult to complete without making errors in judgment. Likewise, inappropriate social interactions might lead to negative consequences. Delusions and hallucinations are also not present in Hypomania.^[12]
4. Understand mixed features. In some cases, people experience mania and depression at the same time. These individuals experience depression and irritability, racing thoughts, anxiety, and insomnia simultaneously.
   
   • Mania and Hypomania can qualify as having mixed features if there are also three or more symptoms of depression.
   • For example, imagine someone is engaging in risky behaviors. He or she is also experiencing insomnia, hyperactivity, and racing thoughts. This satisfies the full criteria for mania. If this person also experiences at least three symptoms of depression, this is a manic episode with mixed features. Example might be feelings of worthlessness, loss of interest in hobbies or activities, and recurrent thoughts of death.^[13]

EditUnderstanding Different Forms of Bipolar Disorder

1. Know the characteristics of bipolar I disorder. This form of bipolar disorder is the most commonly known manic-depressive form of the illness. A person classified as bipolar I must experience at least one manic episode or mixed episode. People with bipolar I disorder may also experience a depressive episode.^[14]
   
   • People with bipolar I are the most likely to experience highs that lead to risky behavior.
   • This form of the illness is often disruptive to one's work life and relationships.
   • Those affected by Bipolar I are more likely to attempt suicide, with a completed suicide rate of 10-15%.^[15]
   • People suffering from bipolar I are also at a high risk of having or developing a substance abuse problem.^[16]
   • There is also a connection between bipolar I and hyperthyroidism. This makes it even more important to see a doctor.^[17]
2. Understand the symptoms of bipolar II disorder. This variation involves less intense manic episodes and full-blown depressive episodes. The person may sometimes experience a muted version of hypomania. But, the underlying state is usually depression.^[18]
   
   • People with bipolar II disorder are often misdiagnosed as having depression. To tell the difference, one must look for the distinguishing characteristics of bipolar depression.
   • Bipolar depression is different from MDD because it is often paired with manic symptoms. Sometimes there is overlap between the two. It takes a qualified professional to distinguish between these conditions.^[19]
   • For people with bipolar II, mania may manifest as anxiety, irritability, or racing thoughts. Bursts of creativity and activity are less common.
   • Like bipolar I, there is a high risk for suicide, hyperthyroidism, and substance abuse in bipolar II.^[20]
   • Bipolar II tends to be more common in women than men.^[21]
3. Look for the signs of cyclothymia. This is a milder form of bipolar disorder that involves mood swings with less severe instances of mania and depression. The mood swings tend to operate on a cycle, going back and forth between depression and mania. According to the Diagnostic and Statistical Manual of Mental Disorders (DSM):^[22]
   
   • Cyclothymia begins early in life and it’s onset is usually in adolescence and early adulthood.
   • Cyclothymia is equally common in men and women.
   • As with bipolar I and II, there is an increased risk of substance abuse for those affected by cyclothymia.
   • Sleep disorders are also commonly found alongside cyclothymia.

EditKnow How to Spot Bipolar Disorder

1. Look for seasonal changes in mood. It's common for people with bipolar disorder to experience a shift as the seasons change. In some cases, a manic or depressive episode will last an entire season. In other cases, the change in season prompts the beginning of a cycle that includes both mania and depression.
   
   • Manic episodes are more common in the summertime. Depressive episodes are more common in the fall, winter and spring. This is not a hard and fast rule, however; some people experience depression in the summer and mania in the winter.^[23]
2. Understand that having bipolar disorder doesn't always impair functionality. Some people with bipolar disorder have trouble at work and in school. In other cases, the person may seem to be doing just fine in these areas.
   
   • Those with bipolar II and cyclothymia can often function at work and school. Those with bipolar I tend to have a harder time in these areas.^[24]
3. Be aware of substance abuse issues. Up to 50 percent of people who suffer from bipolar disorder struggle with substance abuse. They use alcohol or other tranquilizers to stop racing thoughts during manic episodes. They may also use drugs to try to achieve a high when they're in a depressive episode.^[25]
   
   • Substances like alcohol have their own effects on mood and behavior. They can be difficult to distinguish bipolar disorder.
   • People who abuse drugs and alcohol are at greater risk of suicide. This is because substance abuse can increase the severity of both mania and depression.
   • Substance abuse may also instigate a cycle of manic depression.
4. Notice breaks from reality. People with bipolar disorder are often out of touch with reality. This occurs both during periods of extreme mania and periods of severe depression.
   
   • This can manifest as either a dangerously inflated ego or a sense of guilt that is not in proportion to real events. In some cases, psychosis and hallucinations occur.
   • Breaks from reality happen most frequently in bipolar I during manic and mixed episodes. They occur less often in bipolar II and almost never in cyclothymia.^[26]
5. See a specialist. Self-diagnosis is useful if it leads to taking the next step toward getting help. Many people live with bipolar disorder without receiving treatment. But, the illness can be better managed with helpful medications. Psychotherapy with a psychiatrist or counselor can also make a big difference.
   
   • Medications used to treat Bipolar Disorder include mood stabilizers, anti-depressants, anti-psychotic, and anti-anxiety drugs. These medications work by blocking and/or regulating certain chemicals in the brain. They regulate Dopamine, Serotonin, and Acetylcholine.^[27]
   • Mood stabilizers work to regulate a person’s mood. They prevent the extreme highs and lows of bipolar disorder. Among these are drugs such as Lithium, Depakote, Neurontin, Lamictal, and Topamax.^[28]
   • Antipsychotic medications help reduce psychotic symptoms like hallucinations or delusions during mania. They include Zyprexa, Risperdal, Abilify and Saphris.^[29]
   • Anti-depressant medications used to treat Bipolar depression include Lexapro, Zoloft, Prozac, and others. Finally, to manage symptoms of anxiety, a psychiatrist might prescribe Xanax, Klonopin, or Lorazepam.^[30]
   • Medications should always be prescribed by a qualified psychiatrist or physician. They should be taken as directed to avoid health complications.
   • If you're concerned that you or a loved one has bipolar disorder, reach out to a therapist or psychiatrist for diagnosis.
   • If you or a loved one is having suicidal thoughts, immediately contact a trusted loved one or friend. Call the National Suicide Prevention Lifeline at 800-273-8255 for more advice.^[31]

EditVideo

EditTips

• If you are a heavy drinker or you use drugs, these can both cause mood swings with the appearance of bipolar disorder. Abstaining from these substances may help.

EditWarnings

• This article is only intended to help you look for possible symptoms of bipolar disorder. It is not meant to diagnose or treat. Please see a doctor if you think you or a loved one may have bipolar disorder.

EditSources and Citations

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How to Vacuum Your Pool and Backwash the Filter

This article attempts to explain the steps required to vacuum out a pool. There are different kinds of filtration systems for pools, such as cartridge filters, sand filters, and diatomaceous earth (D.E.) filters. The instructions here assume that you are using either a sand filter or D.E. filter, though some cartridge-based systems may be similar.

EditSteps

1. Turn off skimmers as noted on pipes.
   
2. Start by attaching the vacuum hose to the vacuum head.
   
3. Flood hose with water before placing adapter in skimmer to avoid loss of prime. Some skimmers require you to remove the basket before you can attach the hose, so be sure to do this if necessary. Holding one end of the vacuum line over the return port is a good way to bleed out the air trapped in the line.
   
4. Vacuum per manufacturer instructions. Basically, move very slowly and methodically while vacuuming. Follow a grid pattern to ensure all areas of the floor and slopes are cleaned.
   
5. Disconnect the hose from the skimmer and remove vacuum equipment.
   
6. Turn off the pump.
   
7. Clean the skimmer basket and hair basket. The hair basket is the one located at the pump.
   
8. Turn filter handle to the "BACKWASH" setting, and then turn on the pump.
   
9. Continue to let the pump run until the water in the sight glass on the filter is clear.
   
10. Turn off the pump and set filter handle to "RINSE", and then turn on the pump for about 60 seconds.
    
11. Turn off the pump and return the filter handle to "FILTER".
    
12. Turn on pump and resume normal use of the pool.
    

EditVideo

EditTips

• Never turn the filter handle while the pump is running. It will damage the gaskets inside of the filter, forcing you to replace them.
• It is always a good idea to vacuum first and then backwash after. Backwashing removes the gathered dirt and debris from your filter. If you don't backwash, your filter will slowly start to get clogged, causing too much pressure to build up while it's running. If the filter is under too much pressure, it could crack or explode.
• To avoid strain and damage to pumps and filters be sure to manually scoop out as much organic debris as possible before vacuuming. This is especially important when opening the pool in the spring.
• Run a garden hose into the pool when you plan to vacuum on "Waste". By raising the water level to the top of the skimmer mouth, you will have longer to vacuum, while keeping the water in the optimal range.
• If you vacuum a very dirty pool on "waste", it is possible to have organic material like leaves become clogged in the vacuum line, the pump strainer basket or even in the pump impeller.
• During vacuuming, be sure to keep an eye on the flow of the water returning into the pool, as well as the amount of suction you're getting. If either of these start to diminish, you will have to shut off the pump and clean out the hair basket.
• Some D.E. filters will require you to add more D.E. after backwashing. Check with your manufacturer for instructions on when and how to do this.
• If the pool is extremely dirty, it might be a better idea to "vacuum out to waste" instead. This is when you set the filter to the "WASTE" setting before vacuuming, causing the system to bypass the filter and remove the water from the pool.
• A good way to flood the hose with water at the very beginning is to place the vacuum head over the return outlet. This will fill the hose easily without having to try to hold the hose under whilst contesting air pockets!

EditWarnings

• If you don't have a waste function on the multiport valve- such as a standard push pull filter flow valve- do not vacuum the pool in the backwash setting as this will push debris into the inside of the filter cartridge on certain model filters.
• While backwashing or vacuuming out to waste, be sure not to do not drain the water level below bottom of skimmer. Fill the pool if necessary.

EditRelated wikiHows

• Diagnose and Clear Cloudy Swimming Pool Water
• Determine Which Pool Algaecide and Pool Clarifier Is Best for Your Swimming Pool
• Properly Maintain Swimming Pool Water Chemistry
• Diagnose and Remove Any Swimming Pool Stain

EditSources and Citations

• http://www.PoolPump.ca - Source information provided in part. Used with permission

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How to Use Pensions for Collateral Loans

When attempting to secure a collateral loan, it is sometimes possible to make use of the balance in a pension fund as the security for that loan. In many nations, there are restrictions on how and even if a pension can be used as collateral, making it necessary to work with lenders to determine if this is an option. When the balance of the fund can be utilized as collateral, there are normally a series of steps that must be taken to qualify the asset and determine if it meets the criteria established by the lender.

EditSteps

EditDetermining Whether You Can Use Your Pension as Collateral

1. Determine what type of retirement plan you have. Look at any retirement plan documents you have to determine if your plan is a 401(k) or an IRA. If you have an IRA, you cannot use your retirement plan as collateral for a loan. The IRS considers this to be a "prohibited transaction." You also cannot borrow from your IRA. However, if you have a 401(k) you may be able to borrow against your plan.^[1]
   • You may be able to get around this by using a 401(k) transfer to transfer money from your IRA into a 401(k). To do so requires that you have a 401(k) with your employer and that you get the consent of your 401(k) administrator. This may not be possible, depending on your plan.^[2] Consult with a financial professional for more information.
2. Read your pension plan. Even if your retirement plan can allow your funds to be used as collateral, this doesn't mean that they it does. Some plans do allow borrowing, but others don't. Those that do typically only allow borrowing under strict guidelines and limitations. You should always consult with a legal professional to make sure that you are reading and understanding the wording of your retirement plan properly before using it as collateral for a loan.^[3]
   • Some plans only allow you to take out a loan with the plan as collateral if you face certain hardships or meet other criteria.^[4]
   • Many, if not all, plans specify that the loan must be paid back in under five years using equal payments.^[5]
3. Understand who you will be borrowing from. When you take out this type of loan, you will essentially be borrowing from yourself. The money that you are using is the money in your own pension plan. Similarly, any interest paid will be going back to you. Take this into consideration when deciding whether or not to take out a 401(k) loan.^[6]
4. Figure out how much your plan will allow you to borrow. At most, the IRS allows borrowers taking out a loan against their retirement plan to borrow up to $50,000 or 50 percent of their retirement plan, whichever is smaller. This loan must be paid back with interest. If you quit your job before repaying the loan, you must repay the full balance within 60 days.
   • If you fail to repay the loan, and are under the age of 59.5, it becomes an early distribution and you will have to pay income tax and a 10% fee on the value of the loan.^[7]
   • If this amount is less than you need to borrow, you will have to seek other loan options. This loan ceiling cannot be raised.

EditTaking Out Your Loan

1. Fill out the loan application. To get started, you'll have to fill out loan paperwork with your 401(k) plan. This will require you to specify exactly how much you are borrowing and sign a contract promising to pay it back under certain guidelines. Be sure not to sign anything yet, even if you have filled out your loan application completely. You'll need to make absolutely sure that you are filling it out right and understand every provision of the agreement.
2. Have a lawyer look over the loan agreement thoroughly before signing anything. You should have a legal professional examine the loan agreement for any provisions that you may be unaware of and to be sure that the loan is being taken out in a legal fashion.^[8] Have your lawyer explain any contract sections or provisions that you are unsure about.
3. Check to see if the interest can be deducted. In many cases, interest on this type of loan is not tax deductible.^[9] However, in some rare cases, and depending on the loan agreement, your interest may be tax deductible. Consult with you lawyer to determine whether or not this is the case.^[10]
   • If this is the case, you may be able to maximize your returns by paying back a maximum amount of interest on your loan. Consult with a certified public accountant (CPA) for more information.^[11]
4. Be sure to repay the loan. As previously mentioned, failing to repay this type of loan can leave you with several different types of penalties to pay. In addition, you will have less money available for retirement. This type of loan is always required to be paid in full within five years, so keep that in mind when considering your ability to repay the loan.
   • If you are using the loan to purchase a primary residence, however, you may have up to 10 years to pay the loan back.^[12]

EditTips

• Since laws vary, it is important to talk with a legal professional and/or a financial professional about the viability of obtaining a collateral loan with the use of your pension as security. If this option is not available in your jurisdiction, the professional can often recommend other means of obtaining financing.
• While using a pension to secure a collateral loan is 1 option, consider trying other types of collateral or an unsecured loan if at all possible. Doing so minimizes the chances of limiting access to the pension fund during periods of illness or other events that would normally allow some type of lump sum disbursement.

EditRelated wikiHows

• Prepare a Retirement Plan
• Manage Your 401K Investments
• Invest in 401K
• Select an IRA
• Withdraw Roth IRA Contributions

EditSources and Citations

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22 Startlingly Honest Confessions From A Vet

“OK guys, admit it: Who put these cat bollocks in my mug?”

Before you ask: Yes, we have all put our hands up a cow's bum.

Even if we go on to specialise in small animals, it's part of our training. We do it for several reasons, and yes, it does feel weird. Plus you can get injured if the cow moves suddenly, and there's a pretty good chance you'll get kicked. Fun times.

Instagram: @dogtor_pippathecavie

We often end up collecting animals.

Sometimes clients can't keep an animal, or don't come back to pick them up after surgery. It's very tempting to take them home "for a while", which is why a lot of vets end up with a random menagerie of one-eyed, three-legged pets.

Instagram: @aspensvet

We play pranks quite a lot to lighten the mood.

It's quite hard to resist hiding a pair of recently-removed cat balls somewhere your colleague will least expect them. Like their favourite mug.

Instagram: @passaperatattoos

We get asked some really daft questions.

"Can you neuter my dog instead of spaying her? It's cheaper!" Unless your female dog has testicles, then no. Spaying means removing a pet's uterus. We often get asked "do I need to bring my pet to the appointment?" as well. Er, yes.

Giphy

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