Investing For The Future

In life it is wise to have multiple streams of income. This is a way to ensure that you have a source of income throughout your lifetime to meet your needs. We must prepare for our tomorrow today if we hope to retire comfortably. The idea is to make our money work for us making money rather than sitting idle and losing value.


Saving money is ideal, but if the money is sitting somewhere not earning interest, it is just losing value. There comes a time to take risks with our money and invest in the highest returns we can receive. At the very least, money should be invested in as high interest as possible saving, checking, CD and money market accounts. Find the highest returns and read the terms before you commit.


Lately I have been looking for greater returns since I will retire in about 5-7 years and am looking for greater returns. The most banks give is 1-1.5% return on money market and CDs, so I am looking at stocks, mutual funds, ETFs, etc.


I really don't like to talk about investments because they involve risk and I don't want to be wrong or right about your decisions. I made enough investments where I made money. lost money, and broke out even. It's a matter of learning from experience and what works for A doesn't work for B.


The earlier you start investing  for your retirement the better your earning potential because you are able to take more risk. But the closer to retirement, the more of a conservative portfolio you want. Consult a professional financial advisor for all your investment needs.


Online investing and beyond I like Charles Schwab and Fidelity. These sites are novice friendly and will guide you to your investing needs. Granted that it involves mostly their products, but these are top names in the investing business.


A great way to start investing if retirement is not far away is to go with target funds. These are funds that have a target date to make money. One the best is the Vanguard Target Fund.


The stock market is a funny thing because most of us are clueless just what a money making tool it actually is. We also delay seeking advice from a financial advisor. Stocks I own or am watching:
EWI, GE, ODP and others There are winners and losers that is why diversification is recommended.


Any way you look at it everyone needs multiple sources of income to live comfortably. Simple ideas to build multiple streams of money can be found here, here, here, and even here.

Spending To Save

Sometimes spending money can save you in the long run. Depending on where our money goes, there may be ways to save more by spending more. Lets say you have to have that espresso in the morning. It may save you in the long run by buying an espresso coffee maker, or replacing cable with a TV-streaming device. Read more here.


Find where you can save by spending more and learn a strategy here.

The Road To Wealth

When it comes to money, your personal habits can make or break you. The road to wealth isn't a difficult one, but it does require saving, investing and living below your means. The amount of time it takes to reach a "comfort zone" depends on when we start becoming disciplined to meet the requirements. The later you start, the more money you will have to save.


George Costanza on Seinfeld once made a statement that if everything he has done in his life has led to failure, then doing the opposite would lead to victory. Well that was the concept anyway. The point is that if you are living paycheck-to-paycheck or not saving anything, you might want to get your priorities straight.


Your paychecks priorities probably look something like this: 1. Bills, 2. Shelter, 3. Food, 4. Entertainment, 5. Unforeseen expenses, 6. Saving. Some list Saving as 10 or better, and by the time the check gets there there might only be pennies! Your top priority should be savings made automatically like paying a bill.


Start creating rules when it comes to money. It can be as simple as skipping one meal a week at a restaurant, to saving $500 a month. You make your own rules and you stick to them. Learn the money habits that lead to wealth. It's never too late to start, but it will require a greater commitment and contribution to reach your goal.

Staying Secure

Last year I wrote an article about ID Theft. Keeping your life secure means securing any vulnerability that can steal your identity. In today's staying connected world it has become easier to have our IDs and lives snatched underneath our feet. A theft of your ID can set you on the road to ruins.


The best prevention is to secure your passwords. That would be the place to start. To go one further, you may want to change your passwords from time to time. Always have a winning strategy when it comes to passwords.


Because our identities can be stolen, there are many companies popping up that charge a fee to protect your name and identity. I am not going to advise using these services either way. I do have ID protection that is the right price-FREE!


Credit Sesame offers free ID protection and a free credit score. Combine this and your credit reports, it may be harder to steal your ID.