Month: November 2022
Financial Planning – Watch This Before You Start Financial Planning!
user 0 Comments Retirement Planning
Have you ever think of this question what would happen if you are hospitalized unexpectedly due to an accident or a sickness and You lose the ability to make money. Could you continue to pay your bills? If you couldn’t then I know exactly how you feel There’s nothing more frustrating than your hard-earned retirement saving has to depleted and to make matters even worse you increase your debt load Frustrated and embarrassed you end up feeling like a failure because all your plan that your so-called financial Adviser helps you set up the plans all are ruins Unfortunately, there just hasn’t been a quick and easy alternative to just put aside more emergency funds at least three to six months where everyone seems living paycheck by paycheck however, the problem with these options is that you either have to put in more time to learn more extra income by doing more than A job or reduce your spending habits to scarify your lifestyle expenses That’s why today I’m delighted to share with you the program that I just found out have the solution to help you pays your bills When you cannot work due to accident and sickness, hi, my name is Moses tan and over the last five years I’ve personally helped people to protect their ability to make pays their bills in their retirement plan And with this new program you are getting cash benefits paid directly to you as you wish to help pay unexpected expenses or everyday bills What makes this new program so different to all the other out there is there are no companies are offering this service in the market Let me show you a sneak peak how this program works When you have an accident or suffer sickness You shouldn’t have to worry about how you’ll pay for added expenses or everyday bill this program pays you $3,300 direct to you if you stay in the hospital a day up to $6,000 if you stay in the hospital for five days up to $12,000 if you stay in the hospital for 10 days up to $36,000 if you stay in the hospital for 30 days This program also covers you if you have outpatient surgery or fracture each outpatient surgery or fracture incident you get pays up to $5,200 even if you have a root canal or a stitch you get pays for $1,300 it pays cash directly to you in addition to benefits provided by any other insurance policy group planned workers Compensation or any government employment insurance program Jamie a married mother of two said earlier this year I became extremely sick and missed work.
For more than three months putting my family in a very difficult financial situation She was so lucky to have this program because we would have been on the verge of being homeless due to her illness. She Was out of work for more than three months But this program was there for her and her family the whole way with prompt handling of her claim and the arrival of her benefit Checks this program made a really horrible time a whole lot easier for her and her family Raylene an individual said I was connected with a very helpful the planned customer service representative. He explained in clear detail What needed to be done to complete his claim not only by him? But also by the plan that representative acted with professionalism kindness and respect for him and his situation He had his first claim check in about one week The representatives dedication as an employee of the plan was invaluable.
Are you ready to get started in that case? I’m guessing you’ll want to know what your protection is going to be and That’s understandable given that most people on average spend hundreds of dollars to get a fraction of what you’re receiving today so if you’re ready to make a change in your life and you want to protect your retirement text Moses Town at six hundred and Four point four for one point nine to eight – or email info at living benefit CA we will contact you as soon as possible Remember, could you pay your bills while you need the money the most when you in a hospital due to accident or sickness? The good news is that you can trust us to take care of all your bills simply by becoming set up the plan today Just imagine how you’ll feel.
When you get to pay to get well at home. You can enjoy watching Netflix without worry about your bills so text Moses tan at six Oh, four four four one nine two eight – or email info at living benefit CA and let’s get you started today Looking forward to hear from you .
As found on Youtube
Read MoreTony Robbins: How Millennials Can Retire Rich
user 0 Comments Retire Wealthy
Oftentimes people tell me, “You know, I don’t have any money, so I really don’t know where to go. I don’t know what to start, I got to wait to have a lot of money before I begin.” That is the biggest mistake you can make. So let’s say you’re a young millennial or even Z generation come along and you’re saying, “I really want to be financially free but I don’t have any money.” You don’t need a lot of money.
You have the greatest gift on earth: time and compounding. When they asked Warren Buffett, “What made you a wealthy man?” He said, “Good genetics, time and compounding.” So what does that mean? If you could commit at 19 years old to just put $300 aside, forget the $1,000, yes, you can invest $1,000, but what you want is consistency. Let’s say you put $300 a month aside. It might sound like a lot to start with, but you’ll get used to it. You get it so it’s automatic deposit, let’s say it goes straight in the market. And the market over 100 years has gone up 10 percent over recent years, let’s say 8 percent compounded. If you take the lower number, the 8 percent and you only go to twenty seven years old and you stop, you’ve put in roughly $38,000 into that. It’ll grow to $million dollars. That’s the power of compounding. You put a little in and you got a huge return because you had time. If your best friend comes in and says at twenty seven, when you stop investing, “I’ve never done this, I should do it.” And they put 300 dollars a month in every year ’til they’re sixty five have less money because you have a little more time.
They’ll have $million dollars. Still not bad. They only put $150,000 in over a lifetime and they got $million. Pretty good deal. That’s what compounding means. You’ve got to get in the game. You’ve got to become an owner, not a consumer. That will change your life. .
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5 Things To Do 5 Years Before Retirement
user 0 Comments Retirement Planning
Hi everyone bill Leff in here for money evolution dot-com in today’s video I’m gonna be talking about five things that you should do when you’re five years away from retirement ok so right off the bat number one is get organized so if you’re planning for retirement you might have a lot of your financial information scattered into a whole lot of different places maybe you’ve got some 401k plans at work or maybe even an old 401k some IRA accounts maybe your spouse has some retirement plans or old pension benefits so the first thing you want to do is really kind of bring all of that information in together we also want to start to in that process start identifying how some of those retirement resources are going to be able to work for you to provide you with the retirement lifestyle that you want we call it your retirement gap so fortunately we’ve got a couple of tools available to help you with this process one of those but number one is get organized number two is we want to look at how we can kind of optimize some of those retirement assets that you have we call the shift money to tax advantaged accounts so as you approach retirement for a lot of people we find that your cash flow tends to improve or get a little bit better maybe your kids have moved out of the house you’re done paying for college they’re kind of self-sufficient on their own hopefully if your career and your job is going well you’re maybe making a little bit more money so you might have a little bit more cash flow available to save money for retirement but we also want to look at where some of those monies are being saved and what we find for a lot of people is if you have money and non retirement accounts taxable accounts that you have to pay income taxes every year on are there ways or opportunities for you to shift that over into tax advantaged accounts and we find for many people there are you know so take a look at are you maxing out your 401k plan some 401k plans allow you to save an additional 10% in an after-tax savings via call there’s a recent tax law that now allows you to move that money directly to a Roth IRA account even if you’re over the income limits you can contribute money to IRA accounts or Roth IRA accounts there’s lots of strategies there but can we shift money from one side of the balance sheet where you’re not getting that tax advantage over into a retirement account is number two number three is know your healthcare options so this was this came up recently and it was listed as one of the number one concerns for retirees going into retirement is how much is my healthcare gonna cost and understanding that is very important because it’s some big big price tags on this so if you know if you’re working and your employer is offering health care insurance now you want to visit the HR department find out well what do they do did they do anything for you in retirement is there any options to continue that health care especially if you are going to be retiring prior to age 65 when you’re eligible for Medicare if you’re married check out what your spouse offers – and compare those different plants are putting together some ideas of how much that health care is gonna cost because you don’t want to get blindsided by that in fact there’s actually a recent study that JP Morgan did a couple years ago and they actually said that if you had to go out into the exchanges the Affordable Care Act exchanges for a sixty four-year-old it would cost you about eighty four hundred dollars a year per person for just a silver plan so that’s not even the top level plan so understand what those options are check with your employer that’s number three number four is you want to think about your plan for income so hopefully if you’ve done some financial planning you’ve identified some of those gaps you know where those gaps are and what we find oftentimes is especially early on in retirement where your income and the expenses still may be a little bit more variable you want to understand what some of those gaps are and how much money will you potentially have to pull out of those retirement accounts are you eligible to take money out of those retirement accounts are you over fifty nine and a half if it’s an IRA are you over 55 if it’s a 401k you don’t want to get hit with any penalties start planning out what that income strategy is gonna be and maybe having some of that money in a little bit more conservative type of investment so you’re not blindsided by oh my gosh I’m retiring I need to take twenty thousand dollars of a retirement account and guess what the stock markets down so think about that plan for income and where’s the money gonna come from and the number five I love this one because I think it kind of fulfills to two issues here with retirees and it’s consider a semi retirement so I think the idea for most of us and in fact what I think about my own retirement when that happens the idea of working you know 4050 hours a week and then all of a sudden one day just you know throwing in the towel and never working again it sounds a little bit abrupt you know so we’ve been talking to a lot of clients about semi retirement and easing your way into a retirement situation where maybe you go to a part-time status maybe you do some consulting for a few years or maybe you just do a job that you’ve always wanted to do maybe that pays a lot maybe doesn’t pay a lot but it’s fun and you enjoy doing it and it can also help to sustain some of that early retirement spending needs that you’re going to have as well so again especially if you want to do strategies like maybe delay Social Security benefits having some of that semi retirement income can really help fill some of those gaps there so think about semi retirement that’s something that can be done during the planning process where you can see how that income might help your overall financial situation
As found on Youtube
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HOW TO BECOME A MILLIONAIRE WITH $5 A DAY
user 0 Comments Retirement Planning
You know before making this video I was just thinking back to some of the greatest things that I learned in my days in school we sure did learn a lot of great stuff in school didn’t we for example if you give me the link of two sides of this right triangle here I can actually tell you the length of this third side right here pretty useful stuff huh I can also write in cursive play hot cross buns on a recorder and I can even spell boobs on a calculator my favorite lesson in high school though was how to become a millionaire with just five dollars a day wait a second I didn’t learn that in high school did I did you guys learn that in high school did anyone learn that important lesson in high school or was that just left out when we were learning how to cite a source using correct MLA format my point here is about 99% of what you learned in school is useless information and this is a very important lesson that was left out that I’m going to share with you guys today I’m going to show you how to become a millionaire with five dollars a day this is the magic of compound interest pretty magical all right so the first thing I want to point out to you guys is this you cannot save your way to millionaire status one of the most common things people tell you to do if you’re looking to grow your wealth is to save your money and put it in the bank that is the most stupid piece of advice anyone could give you because that is a guaranteed way to lose money I’m going to explain why that is so first of all if you have five bucks a day can you simply save your way to millionaire status absolutely not here’s an example let’s say for whatever reason you were able to save five dollars a day from the day you were born to the day you were a hundred let’s say you even lived to be a hundred years old if you save five bucks a day for a hundred years it will have one hundred eighty two thousand five hundred dollars that is a far cry from a million dollars so unless you’re planning on living past five hundred years old you cannot save your way to millionaire status second of all interest rates in a savings account do not keep up with inflation so you cannot put your money in the bank and expect it to keep up with inflation so in 2016 inflation was two point one percent okay the average checking account pays zero point zero five percent interest on the money you put in there so here’s just an example in terms of how much money you’re losing by keeping your money in a savings account so ten thousand dollars in 2015 is equal to ten thousand two hundred sixteen based on that two point one percent rate of inflation now let’s say you had ten thousand dollars in your checking account over that year as well so you’re ten thousand dollars grew to an astounding dollar amount of ten thousand and fifty dollars at that point so you made fifty dollars okay also known as you just lost one hundred sixty dollars of value maybe that doesn’t sound like a lot of money but if you had a hundred thousand dollars in there you just lost sixteen hundred if you had a million dollars you just lost sixteen thousand dollars because your interest rates are not keeping up with the rate of inflation so that is why a savings account is a guaranteed way to lose money so when people recommend you save your way to retirement or you save your way to being rich that’s a guaranteed way to lose money there you’re basically guaranteeing that you’re going to fork over a lot of money because you’re not going to keep up with the rate of inflation with what these banks pay you as far as interest goes so what is the solution to this problem I’m going to give it to you right now I’m going to show you how to become a millionaire with five bucks a day all that I ask you guys to do is subscribe to my channel and drop a like on this video and help this message be spread to other people out there who are stuck saving money in a bank account all right guys here it is here’s how you become a millionaire with five bucks a day no this is not some course that I’m selling for a thousand dollars on how to become a millionaire that has 40 hours of video content this is this is four steps four steps guys and you can become a millionaire with five dollars a day okay here’s how you do it number one set aside five dollars each day I’m talking about the amount of money you probably spend at Starbucks every single day at the end of the month you will have one hundred fifty dollars saved up okay what you’re going to do with that money you’re not going to put it in your bank account you’re going to invest that money you’re going to invest in a diversified portfolio of blue-chip stocks and investment-grade bonds okay for those of you who don’t know blue chip stocks are these stocks of well-established companies they have a very high market capitalization they are things that have been investing in for many many years and over the last 100 years on average blue chip stocks have paid a 10 percent return you’re also going to be investing in investment grade bonds these are high-quality low-risk bonds over the last 100 years these bonds have paid out on average 6% what I recommend doing is investing 50% of your money in blue chip stocks and 50% of your money in investment grade bonds over the last 100 years on average this portfolio page you 8% return on your investment you’re never going to sell you’re going to leave it there and you’re going to let it compound over time you’re taking advantage of compound interest now you may not have enough money each month to invest but you’re going to save that money and when you do have enough money you’re going to buy more shares of blue chip stocks and you’re going to buy more investment grade bonds okay after 50 years now we’re talking 50 years I know that sounds like a long time but like we said before if you save five dollars a day for a hundred years you’ll have a hundred eighty two thousand five hundred dollars okay so now we’re talking about half the time 50% less time we’re talking 50 years okay you do this for 50 years and due to the magic of compound interest you now have a portfolio worth 1 million thirty two thousand seven hundred eighty six dollars and 28 cents you just became a millionaire for the price of a starbucks cup of coffee each day why is this lesson not being taught in school
As found on Youtube
Read MoreHow to Retire Early: The Shockingly Simple Math
user 0 Comments Retire Wealthy
Hi, my name is Phil. I’m a video creator and online instructor. I’m also a personal finance nerd. Because of that, I want to create a series of videos that breaks down some of the most mystifying topics that plague our society. In a world where people’s finances are typically locked away and not-talked about, I believe opening up the gates of financial conversation will help everyone live a better and smarter life. In this first video, I want to explain the shockingly simple math behind early retirement – thanks to one of my biggest heroes, Mr Money Mustache. While the ability to retire may seem like a distant and unreachable goal for many, the premise comes down to one thing. You need to invest money so that it earns more money.
This could be investing in stocks or bonds, real estate, or any other of investment vehicles. As soon as your investments earn enough money for you to live on each year, you are able to retire. Let’s break it down further to know when you can retire. The most important concept is knowing your savings rate, basically how much you make minus your expenses. If you spend 100% of your income, you will never retire… because you will never be able to invest any money that earns money for retirement. If you spend 0% of your income, you can retire right now… because somehow you are living without needing to make any more money. Between 0% and 100% are a number of savings rates that correlate with the years it will take to retire. For this, let’s assume your annual investment return is 5% (which is conservatively low) and your withdrawal rate is 4%… meaning you spend 4% of your net worth each year.
For example, if you have a $1,000,000 net worth, and you live on $40,000. If your savings rate is 10%, you will be able to safely retire after years. Safely, meaning you will never run out of money. If your savings rate is 25%, you can retire in years. 50%, you can retire in years. And if you can somehow save 75% of your income, you can retire in years. Now getting to that savings rate might not be easy in our world of societal pressures, keeping up with the Joneses, and bad habits. But you can get closer by making smart decisions, avoiding debt, and living simply. The key take away is… Cutting your spending rate is way more powerful than increasing your income because no matter how much money you make, decreasing your spending will speed up the process. A note, The math behind early retirement works if you are working a minimum wage job or a 7-figure CEO salary. It’s all about the savings rate. So if you want to retire in 10 years, the math tells us that you need to save 66% of your income. Now there is a lot that I didn’t talk about – like how to invest, and how to cut expenses to get to a high savings rate.
Those will come in a future video. For now, get excited about the honest truth about retirement (and early retirement at that!)! Let me know what you think in the comments below? Is this exciting or bogus? Until next time… start being money smart. .
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