Investor Junkie is not only a site that teaches you to invest or educates you on your money, it also gives you reviews on various financial sites. From brokers to banks to do-it-yourself investors, this is a must visit site. Before using financial sites online, check out what an Investor Junkie review says about it.
Ready For Zero is a site that will help you get out of debt. It is the true light at the end of the tunnel.
Most of us old timers think we have a financial plan for our longevity and lifestyle. It doesn't hurt to make sure that our plan isn't missing certain essentials. There are so many things you may miss. Currently I am looking into a will, and the article offers helpful sites. Yes they even have the frugal one's favorite-FREE-but I'd still consult a lawyer, but to each their own.
Do you need tools to create your financial plan? I have you covered!
If you are frugal, that should not stop you from investing. Learn to invest a small amount here.
Monday, July 21, 2014
Sunday, June 29, 2014
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.
Saturday, June 28, 2014
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.
Find where you can save by spending more and learn a strategy here.
Monday, June 23, 2014
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.
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.
Sunday, June 1, 2014
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.
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.
Monday, May 12, 2014
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!
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!
Sunday, May 4, 2014
When Saving Isn't!
I try to give advice on saving money by living frugally. For the most part I intend to empower you to save, make, and stretch your money as much as possible. Sometimes the ways we think we save money, are the ways that can actually end up costing us.
The coupon clipping was something I was aware of, but they can save you, if used on the items you need. Keyword is NEED!
Avoiding all budget saboteurs will keep your budget in check. When cutting items from your budget, cut the ones you truly don't need or can cut back on.
The coupon clipping was something I was aware of, but they can save you, if used on the items you need. Keyword is NEED!
Avoiding all budget saboteurs will keep your budget in check. When cutting items from your budget, cut the ones you truly don't need or can cut back on.
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