Money Talk With Slater

Making Money Across the Board

Blog Page

Think Twice About Early Retirement

Slater 0 Comments

Most workers, even if they like their jobs, get excited at the thought of early retirement. They can swiftly come up with numerous reasons why they would be nuts not to take an early retirement if it was given to them. There are good things about taking an early retirement, but there are a few things you should think carefully about before you choose to end your working career.

The benefits of early retirement are obvious. Not having to work full-time means more time to do things you love more than work. The thought of devoting every day to doing things you love sounds too good to be true. Who would not enjoy hours to garden, read, have lunch/coffee with friends or indulge in a secret hobby. Taking an early retirement brings more time to travel and spend time with friends and loved ones.

You must take time to think with caution all the ways your life will be different due to an early retirement. Think beyond all the pleasures and freedoms you will enjoy and think about your financial situation for a moment. Do you have money in place that will be able to support you if you take early retirement? How will you pay for your home, cars, insurances, and travel desires? It’s much simpler to dream about the kind of life early retirement will bring than it is to pay for that kind of lifestyle. If you have a family, you must also think about the responsibilities you have to take care of and support them.

The foremost thing in deciding about early retirement is not to hurry to the decision. Take your time, consider all your options and understand who you are before making a big life change. If it is right for you, early retirement can bring joy and blessings. However, if you retire too early, you may regret it for the rest of your life.

The Need to Be Flexible in Your Retirement Plan

Slater 0 Comments

When saving for retirement, you’ll want to make a detailed, yet realistic goal. After all, you need to understand how much money you should save. Even if you are young (20s or 30s), having retirement goals are vital, even if later on they may change.

To decide how much money you must save for retirement, there are several important questions that you first must ask yourself:

Where do you want to live? Do you want to relocate?

What type of home or living arrangement do you want?

Are there any hobbies/activities would you like to start?

Do you want to start a small business in retirement?

For these questions, you need to begin thinking about their costs. When doing so, also take into consideration basic living costs, like shelter, food, and transportation. Inflation should be taken into account as well.

A Financial Adviser can get you started

Once you have finished the above steps on how much you need to save for retirement, you will want to increase that amount. You should always save more money than you need. The reason for this is that the simple fact is that there aren’t any guarantees with retirement or an age increase. Your retirement spending plan should take into account flexibility, as there are many occurrences that can come about that call for you to be flexible with your spending.

As stated earlier, inflation should definitely be taken into consideration. The price of goods and services will only keep on rising as you age. Not taking into consideration this rise can make you not have enough retirement money. Online, you can find numerous tools that can help you figure out the approximated inflation rate at your time of retirement. Keep in mind, nonetheless, that these are only approximations. A retirement financial advisor can also give you these numbers, as well as assist you with setting up an accurate retirement plan.

Why Saving for Retirement is Crucial

Slater 0 Comments

Sadly, many folks don’t know the importance of retirement planning. If you are one of these individuals, you need to continue reading on for info that will likely alter your outlook on planning and preparing for your retirement.

The biggest reason you should save for retirement is because it’s your life and livelihood. The amount of money that you put up for retirement will have a huge impact on how your lifestyle. Usually, retirement is the best time to obtain your goals and change your dreams into reality, but you can only do so if you are monetarily ready. If you’re not, you may be anxious about where you will live or where your next meal will come from, as opposed to thinking when is the best time to take a vacation.

Another critical reason you should begin saving for retirement is for your children. Even if you are twenty years old, not married, and no children, you must remember that there may come a time in your life when you have a husband and children. Those who don’t accurately plan and save for retirement put a big burden on their families. As a parent, it is your place to safeguard your children and not cause them to have their own financial difficulties because they have to pay for your retirement expenses.

Saving for retirement can also help guarantee that you’re well cared for. This is vital in terms of health. There a point in everyone’s life when his or her health begins to deteriorate with age. While you may be able to live on your own and care for yourself when you first retirement, there may come a time when you can no longer do so. If that time comes, you should be financially prepared. You should be able to afford the cost of long-term care. The price of long-term care can be high and it should be included in the cost of your retirement. Therefore, you should start saving now for retirement.

How to Find the Best Retirement Plan

Slater 0 Comments

A retirement plan is a necessity if you’re to take pleasure and benefit from the time you’ve decided to retire.

More often than not, folks aren’t bothered about retirement plans. They just pass the time and think that retirement will ultimately take place, with or without retirement plan.

What they don’t realize is that creating a retirement plan is the most critical thing any working individual should deal with. What lies ahead is never too obvious for people who don’t have solid retirement plans.

What Is Retirement Plan?

Retirement plans are types of agreement that give people a nice amount of money by the time they have reached their retirement age. These amounts are enough to recompense their continuous struggle for existence even if they are no longer working or getting the kind of income they used to make before.

In many cases, retirement plans are provided by government, employers, trade unions, or some financial institutions such as insurance companies.

In essence, there are only two major types of retirement plans: defined contribution and defined benefit. These plans are categorized according to how the compensations are resolved.

Defined contribution denotes retirement plans that will give disbursements according to the amount of contributions that the benefactor has paid.

On the other hand, defined benefit refers to a particular type of retirement plan, wherein the disbursements are based on the flat rate as computed from the employee’s membership years and the amount of income received while employed.

Considering these facts, not all retirement plans are considered equal. Therefore, it is best to analyze your status and decide what type of retirement plan will work best for you. You need to think about some important factors to help you with your decision, like lifestyle, dependents, and monthly budget. But one way or another, you should be thinking about your retirement plan now. Don’t wait until retirement to try and deal with this.

How to Get Real Wealth

Slater 0 Comments

Many folks think that the way to true wealth starts with a big money making opportunity. This is just partly true. While a great wealth building opportunity does manifest from time to time, they are few and far between. Many people who get true wealth are those that budget intelligently, work hard, and don’t live as if they were wealthy.

The way to true wealth starts with determination. When you decide to amass wealth, you will be wealthy, even if it doesn’t happen right away. Determination creates will power, hard work, and pinching pennies. However, determination isn’t enough.

The next step on the path to real wealth is having a plan. The possibility of finding that get-rich quick scheme that everyone talks about getting millions from is quite slim. You need to have a plan for a rewarding career path, business, or money-making opportunity. You also need to have a plan for investment. Planning is the best way to get the level of wealth you are seeking.

Real wealth is about budgeting and investing. Don’t spend all the money you earn. Save some until you have enough to invest. This is much easier than it sounds. When you have gotten to a lifestyle that is comfortable but not excessive, stop boosting your lifestyle. Instead, put the money away into a savings account or money market account until you got enough to invest and try to amass real wealth.

You could invest in low risk, high return investments like money market accounts, or you could invest in stocks. Moreover, you could invest in new and up-and-coming companies that seem quite promising. These are sometimes referred to as penny stocks and is one of the top ways to invest your money and accrue real wealth swiftly. Investing the money that you don’t spend is the finest and safest way to get true wealth.

Want to Start Investing Your Money? Here’s How

Slater 0 Comments

If you are eager to get going on your investments, you can do so right away without knowing a lot about the stock market. Begin by being a careful investor with a low risk tolerance. This will offer you a way to let your money grow while you study more about investing.

You need to start somewhere!

Begin with an interest-bearing savings account. You should have one and if you don’t, you should. You can open a savings account at the same bank that you have your checking account at. Typically, a savings account should provide between 2 – 4% on the money that you already have in the account.

It’s not a lot of money, unless you have a million dollars in that account. However, it’s a start, and it is making money.

Also, invest in money market funds. This can be done through your bank. These funds offer higher interest payouts than normal savings accounts and work much the same way. These are short term investments, so your money isn’t tied up for long periods of time. However, this is your money earning money, so…

Certificates of Deposit are also good investments with zero risk. The interest rates on CD’s are usually higher than those of savings accounts or money market funds.

You can select the length of time on your investment and interest is paid consistently until the CD becomes mature. CD’s can be bought at your bank, and your bank insures them against any loss. When the CD reaches maturity, you get your original investment and the interest that the CD has earned.

If you are just beginning, one or all of these types of investments is the best starting point. Again, this will get your money to start making money for you while you learn more about investing in other places.

How to Have a Money-Making Blog

Slater 0 Comments

Do you run a blog or several blogs? If so, do you know that you can earn money with your blogs? If you are currently making money from your blog, did you know you can earn much more money than what you are earning now?

Several of you might know about Google’s AdSense money making program. If you run a blog and aren’t making use of this program, then you are throwing away easy money prospects. For folks who are questioning what AdSense is all about, they are ads Google put on your blog or websites.

You may even have tried it, but aren’t making any money while others are raking in 5 figure incomes every month. What’s up with that? It is because there are several things you need to do in addition to just placing adsense ads on your blog and wishing people will come to your blog and begin clicking away on your advertisements.

If you understand how to get folks to come to your site and click on Google’s ads, then you are on your way to making a passive income and if you have numerous blogs, then you will have several streams of passive income. The best point of all is that it is free. You don’t need money to start a blog and earn commissions from Google. This translates to zero (no) financial risk.

Now the issue is that most bloggers think that just inserting the advertisement, money will come flying in. Yes, it could be that simple. You can see some money coming in fast, but it’s just peanuts. If you want to get more money out of your blogs, there are more steps to take.

a) Get more traffic onto your blog. There are numerous ways to do this, like making your blog search engine friendly and ranking well on search engines.

b) If you want blog visitors to click your AdSense ads, it all depends on where you place your ads, what format and colors are your ads are.

If you can follow these tips, then you can sit and anticipate those high earnings to come in.

How to Earn Extra Income

Slater 0 Comments

When the bills pile up, folks often look for ways of earning extra money. This can be tough if you already have a full-time job and a family. There isn’t any time to go out and work a part-time job to make ends meet, and this isn’t appealing by no means. Now that the internet is so widespread, there are numerous ways anyone can make extra money without having to leave their home.

When trying to make extra money, you have to be vigilant. There are many opportunities for making extra money, but there’s also a lot of people that are scammers. These folks you need to stay clear of. Many of these scams claim to provide large profits for almost no work. Many times folks will ask you for money in order to make money. You must read the fine print and use your common sense. As the saying goes, if it looks too good to be true, it is.

You do have choices for making extra money that are perfectly legal. Several folks have turned to selling sites, such as eBay. You can sell used or new items and earn nice money doing so. For this to work for you, you have to be dedicated about it, and you have to put in the work. If you want to go this way, do some researches before you start. There are many websites that offer advice that will assist you in being more successful selling on eBay.

If you are a writer, the web is a good place for earning extra income. You can find several websites and businesses that are seeking writers, but again, be on the lookout for scams. It may take you some time to break into content writing for online websites, but once you get systematic, you will find you can earn some decent “coins” if you set your mind to it.

Making Money Online

Slater 0 Comments

If you are tired of the 9 to 5 office job, working fast food, or you just don’t make as much money as you would like to, the answer you have been waiting for is right in front of you. Yes, that is correct! You could earn a decent living, as well as a decent amount of money, with an online career.

With the birth of the internet began a new type of business called the e-Business or e-commerce. People around the globe are taking their business online for one major reason, which is connectivity.

A man in Italy can sell his candles to a woman in China in a second and have it shipped to her in a matter of weeks. It’s simple for someone who already operates their business to integrate the internet in order to make much more money. With just a few clicks, your goods are linked around the earth and you’re making money thru the internet.

You can even begin making money online by running a blog or online journal. These websites work by promoting products on your blog that may appeal to your readers. It’s typically a referral program that works if you keep your blog current. This makes people want to come back and see the ads recurrently. You should know the money don’t come easy. You will want to keep it stimulating enough so that internet users will keep coming back. This is an amazing way to earn money if you like to write.

These aren’t the only ways of making money online, there are several more. The secret is discovering one that works for you. If the website looks too good to be true, it most likely is. You may end up making more money than you ever thought possible with a piece if machinery that’s right in front of you.

Making Money with Your Hobby

Slater 0 Comments

Do you have a hobby that you always wanted to chase? Well, like they say it’s never too late to start following your dreams. Today this can be a great online money making opportunity that lets you to make money doing what you love the most.

Hobbies that are profitable

Practically any hobby can be used as an online money-making opportunity. Nonetheless, the most common and profitable ones are the ones that have to with craft and art.

Customized Bikes: If you love remodeling ordinary bikes into extreme-customized works of art, you can use the online make money in style. You can have workshops and lessons which will school others and enhance the credibility of your brand as well. This will establish you as an expert in this field.

Knitting: Or if you love knitting or crochet, you can sell your goods online. Moreover, if you take customized orders, your business will be very well-off. You could display original designs that will aid in making this a more rewarding online money making prospect.

Stamp collection: If you are one of those folks who enjoys stamp collecting, you can showcase them online. Numerous stamp collectors using the internet to make money that amounts to millions. If you collect stamps, you could be one of these folks. You could invite other stamp collectors to buy and sell on your website. This way you can turn a much-loved hobby into an innovative internet money making business.

Shopping: Yes, ladies and gentlemen, shopping! If you’re a shopping addict, you can assist others by shopping for them. By offering personalized shopping for individuals, a lot of personal shoppers use the internet to make money in an innovative way. To do this, you need to find out the customer’s tastes, likes and dislikes, favorite colors, etc. This will help you to purchase items that they like.