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.

Financial Journal 2

Currently, I am doing a catch-up toward my retirement and plan to retire in 5-8 years. I would love to work at least until I'm 66 so that I can at least collect the full Social Security. I have a couple of retirement plans at work. Still, relying only on these sources won't make me financially sound in my golden years.




Although I have been wanting to do it for years, I've finally started investing in the stock market. That is where you will get better returns than savings and checking accounts, money markets, CDs and almost anything else a bank offers. My eyes were opened at 3am one day when I was watching this!




I had just opened a couple of CDs at my bank and now I am committed for 3 years for a mere 1.4%. For the same amount, if I had invested in stocks or mutual funds, I could have made at least 4%. Yes there are risks, but life is all a risk.




It doesn't take much to start investing. You can start little and get committed to contribute in a period of time. A good start number is $1000, and here are 5 Simple Ways to Invest $1,000 now.




When it comes to finances, education is a must. But money can be made and saved by reading beyond the personal finance books.


To start investing, you must have both short and long term goals. The long term will deliver the better rewards. To set goals, you might want to consult with a financial advisor, or do intense homework. Just be realistic and not clueless when it comes to money.


Know the basics of retirement planning whether you are in your 20s, 30s, 40s, 50s, and even in your 60s!

Retirement Common Sense

How many people plan to spend their golden years working at the Golden Arches, if you get my drift? It may sound funny, but when it comes to retirement you have to cross your 'T's and dot your 'I's. Otherwise once you sign on that dotted line and leave your job for the leisure life, you may find that the money you have won't sustain you.


This is why you'll probably retire twice, since your first retirement will run out quick. Lets set aside my pet peeve of spending money on gambling and scratch-offs, and think about miscalculations. It is best to start early, but conventional wisdom says that most people won't start saving in their 20s or 30s, and some will procrastinate beyond their 50s.


The earlier you start saving or investing for retirement, the less it will cost you in the long run. Relying on only that carrot known as Social Security Income may be a pipe dream unless you have other sources of income. SSI has been increasing their full retirement income age and many will be happy to take a pay cut of 25% by retiring at 62. This is great if you live to be 70 because after that you may regret retiring at 62.


Nowadays, people should realize that times-they-are-still-a-changing and this isn't your mommy or daddy's retirement. Financial planning for retirement means adjusting to unforeseen circumstances. Pay a planner if need be.


In conclusion, before you retire and give up work through self-termination, make sure you don't have to go back to work, when you retire!

Beyond Retirement

If we knew exactly how many years we have on earth after retiring, we probably could predict how much money we will need to get there comfortably. A good piece of advice is to assume you will live to be 100. A good move would be to retire later or save enough to last until then.


It's never too late to enact strategies to boost your retirement savings. If you need to you could make extra money doing a leisure task. Most rental car agencies have jobs perfect for retirees such as moving and picking up rental cars from other locations.


Never underestimate the power of volunteering. It tends to open doors and connections to affluent people that can help you in the long run.


Steady income stops at retirement unless we have multiple streams of income. Learn more here. The point is to have other income to rely on and making your money work for you. Rewards are greater if multiple sources are started earlier in life. Some are almost too simple.


If there is ever a time to be frugal, it's when we retire. Frugal living isn't a bad idea at any age. The name of the game is not to run out of money, especially in retirement. More on frugal living here and here.

Golden Years At The Golden Arches

If your life has seen its share of miscalculations, perhaps your planned retirement needs to be recalculated. Retirement is the one time that you can't afford to be wrong, otherwise it will cost you in the long run. Retirement is about enjoying your life without having to punch a clock. Unfortunately, many retirees look for work because they can't make ends meet with their retirement funds.


Many people buy into the myths of retirement that may see them working until the grave. If it helps, take a retirement road trip. When it comes to retirement, I suggest making better decisions.


Since our lifespan is increasing we need to adjust our retirement timetables. Another bit of wisdom lies in avoiding money disasters that can wreck your retirement.


Putting something aside for retirement is an essential part of life that many don't consider until they are on its back door. If only we put something aside at a young age to go toward our retirement, we may retire at a young age. Keep in mind that your retirement more than likely must fit your lifestyle. Saving something should be automatic when it comes to retirement, and the key is to NOT touch the savings until retirement or beyond!


Small steps for saving toward retirement:


1) Put all windfalls into a savings. Raises and any extra money you come across.
2) Cut money consuming habits and pocket the savings. Smoking, addictions, etc., stop throwing money away and pocket the savings.
3) Don't live beyond your means by living on credit. If you saved the money on interest, retirement would move smoothly.
4) If you live in a bottle deposit state, put your refunds in a savings.
5) Put your government refunds in a savings. Your yearly federal and state refunds can be put to good use.
6) Stop trying to keep up with the Joneses. This will save you a lot of money.
7) Quit trying to get rich quick through scratch-offs and lottery numbers. Winnings are temporary and losses put you deeper in debt.


To play it safe, I have a formula for saving for retirement depending on when you start. If you start in your teens, you should save at least 5% of your paycheck a week for your work-life toward retirement. If you start in your 20s you should save at least 10%  a week toward your retirement. In your 30s 25% a week, in your 40s 30%, in your 50s 45%, and in your 60s 75%. If you start in your 70s you might as well work until your grave!

Personal Finance Tips

A sure sign that we are in for a financial disaster is when we live from paycheck-to-paycheck, and debt can't be easily paid off. We need to learn how to stop living paycheck-to-paycheck. One needs to become realistic of their finances and that means watching the money flow. Powerwallet is a software that makes it easy to keep track of your finances and set-up a realistic budget.


There are always ways to save money, you just need to know where to look. You can find some handy advice in a month's worth of saving tips.


If you are close to retirement, your main goal should be to make sure that nest egg will carry you through your lifetime. Sometimes it may be to your advantage to retire later. Anyone who retires at 62 loses 25% of their full retirement from Social Security. The sooner you start saving for your retirement the better, but even at 50-something, it's never too late!

Reflecting Retirement

It's never to early to start preparing for retirement. The sooner you start, the easier it is to save and prepare and be ready for any storm that may arise. Those who never start to prepare for retirement and are relying only on Social Security may be spending their Golden Years at the Golden Arches.



Some people are thinking of living abroad to stretch their retirement dollar. Although it may seem like a good idea at the time, there are things to consider. Common sense should tell you to do your homework before moving abroad. Language, culture change since you have to conform to local customs, crime, family and friends support, and the list goes on.




Saving for retirement should be a lifelong goal, but it is never too late to start. In case you can't see it, when it comes to retirement it's all about having enough money.  Unfortunately, people aren't saving enough for retirement.


Saving for retirement is a must in so many ways. The longer you live, the less buying power your SSI or employer's retirement power will have. In today's ever changing world you can't rely on these means to be there. Many may be kings when they retire but become paupers over the years.

Retiring Securely

The sooner you start saving for your retirement, the more of a secure retirement you will have. It's never too early to start and I would recommend starting to save at birth. If you don't save enough for your golden years, you will be spending them at the "Golden Arches" to say the least.

There are rumors that Social Security, won't be there in a few more years and retirements are being taken from the private sector as corporations file for bankruptcy. Nothing is ever really guaranteed in life, and sometimes it pays to prepare for any unforeseen situation that will have a monetary affect your retirement.

I suppose that people fail to save for retirement because you never think of retirement until you finally got old. There are those who can retire as young as 40, and I'm sure some can retire younger and some are born retired.

If you wait until the age of 70 to collect SSI, you will double the benefit you get at 62. If at 62 you get $1000 a month you will get up to $2000 at 70. Considering that one is in good health, it may be to ones best interest to retire at 70. Remember that your retirement must sustain you until you die. The earlier you retire on Social Security, the less your benefit will be worth.

If you have saved and invested enough over the years, it really don't matter because SSI is just gravy. Many people fail when it comes to saving for anything due to budget failures.  So plan carefully when it comes to retirement, because I haven't even scratched the surface.

The Money Tree

The problem with today's society is that most people aren't educated financially. They live for today by buying what they can't afford and end up drowning in financial debt. We should be taught to save from a very young age and we should always have more saved than we spend. It takes discipline when it comes to money and sacrifice is a norm. Better to do without something you can't afford, or that will dip into your savings.

Gambling is a money drainer for most. It is something that could actually ruin you financially, especially if you are addicted and need to get a daily fill of some gambling itch. Lady Luck is not on your side, and the only Big One you'll hit is working at the Golden Arches in your Golden Years!

Money works by saving 10% of your weekly earnings and investing 5%. Ideally, this would happen from your first paycheck to beyond your retirement. Mortgage or rent should be 25-35% of your earning. Utilities about 10-15%. Food about 15-20%. Cash on hand 5-10%. Entertainment 10%. Lets call this a basic formula with variables. Perhaps you spend less and save more or vice-versa. The main idea is to follow the money and crack down your spending habits. This will help you develop a budget.

With a budget you start to plant the seeds. The trick is not to pick the fruit until it is ready to be harvested. That usually means retirement. It is never too early to plan for your retirement. Educate yourself in any way when it comes to wealth. Learn and discipline yourself on saving money.

Need more tips on saving money? Here's a hundred little steps that might help. Find extra money working overtime, finding a part time job, selling some of 'your stuff', doing services for cash, etc., and any opportunity that can earn income.

Money doesn't grow on trees, it grows from hard work, education and discipline. If you are in debt and aren't saving, then there is a problem. The problem needs to be fixed before the ship has sunk. Even Martha Stewart can teach you a thing or two. There are even the No Brainer tips we overlook or forget. You can never get enough tips on saving.

I don't have cable and gave up my home phone. On the other hand my internet fee has increased. I use to commute 135 miles a week to work, now I only commute a total of 35. I took a pay cut, but get more overtime. I moved from a $650 a month rent plus up to $100 in utilities, to $520 a month rent that includes utilities. I have built food reserves, and sometimes go weeks without shopping for everything accept perishables and vegetables.

Teach your children well.

Retirement Planning

If you have a long way to go, here is a wake-up call...it is never too late to start planning for your retirement. The sooner you start, the better your nest egg will be padded and secure. If you are on the edge of retirement, you have to have a nest egg, otherwise relying on SSI will put you in the poorhouse.

If retirement is near, investments must be secure. McDonald's is a solid dividend paying stock. When it comes to metal investment, always go with gold at iShare. Choose a simple portfolio of Vanguard mutual funds with this, this and this! Get more investment advice at Real Clear Markets blog.

Retirement communities are starting to pop-up that are lifestyle oriented, so that you can retire with people who share your interest. You might even think about getting more bang for your buck in a foreign land. If you retire away from family and acquaintances make sure you have some sort of support you can fall back on if it doesn't work.

Retirement should not be ventured into without planning.  Remember that for the most part retirement is permanent and many see the goal of retirement at 62 years of age. Age 62 is like a fool's gold for retirement. As far as SSI the payments may not  have any buying power if you live beyond the life expectancy. Unless health is an issue, full retirement age will pay better in the long run, and the magical age of 70 will almost double your age 62 benefit. Things to consider.

Keep in mind that retirement is ever evolving. When planning for retirement, it is better to save, invest, plan, prepare and have surplus than live like a pauper. No doubt, when retiring you need all the help you can get.

You should make out a will as soon as possible. The reason is because you just don't know!

Your Money Health

The earlier in life you learn to respect money, the more you will have later. You can never educate yourself enough about money.

Although it is a concept hard to understand, to make money, or anything else in life. you have to give it first. It's been proven again here and here.

As with everything else, there are money principles.

If you need a bit more education on money go to Money 101. Here's an idea whose time has come.

This site offers financial news and advice. It also has tools for your investment and savings. It's summer and I have friends that have kids who will find this useful for sure.

The more informed you are about money, the better you will become at managing, saving and investing. This site has articles, tips, resources and tools for all your money knowledge needs.

When it comes to investing in stocks, mutual funds, ETFs, bonds, etc., it is best to do your homework before you blindly jump in. I would say to pay a financial advisor rather than go at it alone. No matter how much of a Dummy you are, the market is volatile and can change quickly.

When it comes to retirement, the biggest mistake you can make is to retire at 62, unless your health demands it. Collecting Social Security at 62 does not give you Medicare, and it can take a chunk out of your benefit as opposed to full retirement age. At 70 your benefit is almost doubled more than at 62. True, you are closer to death and may lose money, but given that more people are living past 100 it might be worth it.

When retirement is approaching, I hope your only source of income is SSI. Here's your retirement guide. No doubt you need to save for retirements. Use this calculator to project your financial needs. You can never get enough information on managing your money for retirement.