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Increase Profits and Reinvest in Your Small Business

Posted by on 5:15 pm in Make Money, Personal Finance Luminaries, Sponsored, Tips, Wealth | 0 comments

Increase Profits and Reinvest in Your Small Business

Tips for Entrepreneurs – Reinvest in Your Business Contributing columnist, Kostas Chiotis We interviewed 11 successful online entrepreneurs. Learn their tips for success and how much they reinvest into their business. Their answers might surprise you. Warren Buffett learned about the importance of reinvesting your profits at the ripe age of 18. While still in high school and hoping to make a few bucks, he and a pal invested $25 in a pinball machine. They installed the game in a barbershop. The pinball turned out to be quite successful, and the two made a nice profit. But, instead of spending his earnings on a cool car or new sneakers, Buffet and his friend reinvested the profits and bought more machines. In time, they had eight pinball machines in different shops. When the two friends parted ways and sold the venture, Buffett accumulated $174,000 – that’s $1.4 million today. He used...

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Real Estate vs Stock Market – Which is the Best Investment?

Posted by on 4:47 pm in Guest Post, Investing, Real Estate, Stocks, Uncategorized | 2 comments

Real Estate vs Stock Market – Which is the Best Investment?

Should I Invest in Real Estate or the Stock Market? By, Soumyadipta Basu Once you are on track with your primary financial goals such as retirement contributions and being debt free, (except for your home mortgage) it’s time to embark on your next journey in the world of personal finance. Next, it’s time to think about about growing your wealth. While there are a few options of doing so, investing in real estate vs stock markets are the both popular and offer high rates of return. Bonus; 6 Retirement Planning Tips for 50 Year Olds For an investor, trying to figure out which is a better investment option-real estate or stocks-is like asking my kids whether they want chocolate or vanilla ice cream. Both will vet their taste buds but, ultimately, the choice comes to personality, preference, and style. My son always prefers chocolate while my daughter opts for vanilla....

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4 Memorial Day Tips to Make More Money

Posted by on 9:07 pm in Investing, Make Money, Tips | 0 comments

4 Memorial Day Tips to Make More Money

Memorial Day is a wonderful time to honor those who served our country. It’s also a time to take a break from work. First, honor the veterans. Next, enjoy your time off. But don’t forget to spend a few hours on your financial future and make money over Memorial Day. It’s tough to find time make more money while handling the gritty business of work, raising the kids and keeping up with the house. But Memorial Day is a perfect time to set aside a couple of hours to increase your income for now and for the future. 4 Make Money Over Memorial Day Tips 1. Increase your 401k contribution and make more money over Memorial Day. Log into your workplace 401k portal and increase your retirement account contribution by 2%. If you make $70,000 per year, that’s $116.00 per month deducted from your paycheck. And with the tax...

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FIRE – Financial Independence, Retire Early is a Bad Idea

Posted by on 4:49 pm in Links, Retirement | 17 comments

FIRE – Financial Independence, Retire Early is a Bad Idea

FIRE is popular among millennial’s – and older adults too. Inspired by the classic book, “Your Money or Your Life,” by Vicki Robin and Joe Dominguez, FIRE is an acronym – Financial Independence, Retire Early. Thousands of diligent workers are striving to live with less to retire young. But, to what end? I read the book when it first came out in 1992 and I like the living with less idea. It’s smart for the economy, the environment and a lot of other reasons. Living below your means, relieves money stress! In fact, I was raised with fiscally conservative parents and adopted that mindset.  It’s not hard for us to live beneath our means, because my family has engaged in this practice forever. We splurge on what matters, while cutting back in other areas.  Don’t get me wrong, reaching financial independence is great, as it relieves a big life stress,...

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Wealth Secrets and Worries of the Super Rich

Posted by on 2:15 pm in Personal Finance, Tips, Wealth | 24 comments

Wealth Secrets and Worries of the Super Rich

The super rich are both similar and different than you and me. Of course they have more money, but the super rich also have problems. Find out what matters to the super rich, their worries and money strategies that you can implement to build your wealth. The Super Rich Have Problems Too “The most important thing for everyone to understand is that no matter how much money you have you cannot buy yourself out of the human condition. And that is that we’re all going to die.” ~Robert Kenny, EdD in Town and Country Magazine Over the years I’ve know some very wealthy folks. Family friends lived on the same island as Gloria Estefan. Jason, a pal I grew up with had a dad who owned a trucking company, lived in a big mansion with full time help, and had lots of cool stuff. Jason’s sister even had a Coach...

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Should I Invest In An IPO?

Posted by on 9:25 am in Advanced Investing, Investing, Stocks | 0 comments

Should I Invest In An IPO?

Just Because You Can Invest in an IPO, Doesn’t Mean That You Should Sometimes it feels like the best time to invest in stocks is 50 years ago—not an encouraging thought for someone looking to get started investing in 2018! Since it seems like everything good is already too expensive to start investing in, you might wonder if you should invest in an IPO. An IPO, or an Initial Public Offering, is when a company first makes its stocks publicly available for purchase. This typically happens when the company is young and hip and has potential for some serious growth. Bonus; The Best Way to Invest Sometimes it can be advantageous to invest early. If a stock does increase in value rapidly, it’s always better to have bought early to make the most profit. But there are a few thinks you should take into consideration before you decide if...

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Best Asset Allocation Based On Age & Risk Tolerance

Posted by on 10:58 am in Advanced Investing, Asset Allocation, Investing, Reader Question | 14 comments

Best Asset Allocation Based On Age & Risk Tolerance

How To Figure Out the Best Asset Allocation For You Graham from Moneystepper asks; What metric (rule of thumb) would you recommend for asset allocation based on age and risk appetite? Choosing your best asset allocation is not as simple as it might seem. Let’s attack it from several investment angles and throw in a bit of research as well. What Is Asset Allocation?   The asset allocation decision divides total investable funds by percent into specific investment categories. An asset allocation represents the investor’s choice of broad asset classes and the percentages distributed across the categories. The two most common asset classes are stocks and fixed, which includes bonds and cash. Based upon the seminal study by Brinson, Hood, and Beebower, “Determinants of Portfolio Performance”, from the August 1986 Financial Analysts Journal, asset allocation is widely considered the largest contributor to a portfolio’s return. In other words, the individual...

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6 Retirement Planning Tips for 50 Year Old’s

Posted by on 12:29 pm in Debt, Insurance, Retirement, Saving, Sponsored, Tips | 0 comments

6 Retirement Planning Tips for 50 Year Old’s

Retirement Planning Action Tips for Today You’ve hit the big 5-0 and the reality that you’re not going to work forever sinks in. If you’re like most Americans, your retirement account is on the lean side. A recent Economic Policy Institute article reports that for households between ages 50 and 55, the average savings balance is $124,831. Yet, all is not lost and at age 50, there’s still a solid 15+ years to go before retirement. With targeted planning, you’ve got time to craft a successful retirement. Read on for 6 important retirement planning tips for 50 year olds: Retirement Planning Tip #1 Get Out of Debt Today I don’t want to hear any excuses. At age 50, if you have credit card debt, a home equity line of credit, a car note and a slim retirement account, then get rid of all debt except a first mortgage on your...

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Your Savings Account Stinks. Here are 5 Places to Keep Your Money Instead

Posted by on 9:38 am in Guest Post, Real Estate, Retirement, Saving | 0 comments

Your Savings Account Stinks. Here are 5 Places to Keep Your Money Instead

Alternatives to Savings Accounts – Not Under Your Mattress By, Greg Johnson With many banks offering an APY rate of 0.03% or less, using a savings account as a long-term investment option is not your best money move. You won’t be growing rich by watching your account grow in pennies. Bonus; Should I Pay off My Mortgage or Invest in the Stock Market? Don’t fool yourself into thinking that you are keeping your money safe in these risk-free savings accounts either. Stashing your money in a low-interest savings account means you’re just robbing yourself of potential earnings as inflation eats into your buying power. Right now, you’ve got time on your side. Maybe you have 10 plus years to let your savings grow but sticking with a crappy savings wastes the benefits that time can have on your money’s growth. Instead, use your time more wisely. Take advantage of...

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Financial Spring Cleaning: 5 Tips to Stay on Track

Posted by on 9:06 am in Budget, Debt, Guest Post, Money Management, Tips | 0 comments

Financial Spring Cleaning: 5 Tips to Stay on Track

Financial Spring Cleaning How to with Gloria Martinez, founder, WomenLed.org Winter’s giving way to spring and warmer weather, which means the holidays and tax season are in the rear view mirror. It’s time to look ahead to vacation and all the activities that make summer so much fun. You’ll want to be ready for it all, so take time now to do a little financial spring cleaning. Make sure your records and resources are in good order and ready for whatever comes along. Spring is a time of renewal, when you clear out the excess and determine what you want to keep and what you can get rid of. With a little diligence and planning, you can also declutter your finances and put yourself in good shape for the rest of the year with a step-by-step, financial spring cleaning.    Financial Spring Cleaning Tip #1 – Unload Old Bills...

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