A ring chromosome can happen in two ways. The blue parts of each are lost thus resulting in loss of information. However the ring can cause problems when the cell divides and can cause problems for the individual. It is also possible to have a ring and be apparently healthy with no delays in development. As with all chromosome abnormalities it depends on what is actually found, the size of the ring, how much material was lost, which chromosomes are involved etc.
Translocations can be a little tricky.
Above is an example of a balanced translocation. The long arms of chromosome 7 and 21 have broken off and switched places. So you can see a normal 7 and 21, and a translocated 7 and 21. However there can be a problem when this person has children. Remember that when the egg or sperm is made, each parent gives one of each chromosome pair.