WEALTH BUILDING TIPS AND TRENDS

Do you know how long the average human life span is ? Do you think you can make a difference towards extending your life ? Chances are you answered no and then maybe to the above ! Money and Time Most people work and save their whole working lives hoping to some day retire and live the good life. The problem is how do they know how much to save and invest ? No one knows for sure how long their money must last after they can no longer work for it. This is one of the biggest challenges to retirement planning. My solution is quite simple really. Plan to live forever. This makes retirement planning very simple. Here is how it works. Keep saving and investing your money until the income from your investments is large enough for you to live on comfortably without working at all. Of course this means you will still need to make enough for your minimum ten percent savings, even throughout retirement. Without this, inflation will slowly eat into your income and your plan will collap...

Do you like paying taxes to your Government ? Do you think they spend your tax dollars wisely ? If you're like most, your answers will be a resounding NO ! Waste of Wealth  Any tax that you end up paying to your various levels of Government is technically a waste of good money and also a waste of every taxpayers' hard earned wealth. The reason I say this is that most governments that I have had dealings with are extremely inefficient and in many cases should be charged with negligence or even downright fraud. However, the way our legal systems are designed, it is very difficult to hold politicians accountable to the people they are supposed to represent. Please note that this is purely my opinion and there may be good responsible governments somewhere. I have merely not encountered any. Reduce Your Tax Waste   Now that you understand my opinion on most governments, my recommendation is to do whatever you can legally to pay as little tax as possible. The wealthy ...

Would you be able to survive if you lost your main income source ? Would you know what to do if this situation ever happened ? Sad to say, many individuals don't have a clue ! Hand To Mouth I am sure you have heard the saying that someone is living hand to mouth. Basically, this means that all of one's income is used to pay everyday living expenses. There is no money left over to plan for their future financial lives. Many individuals live this way for their entire lives, never seeming to get ahead. Sound familiar ? What would happen to these individuals if they suddenly lost their only source of income ? Not a pretty picture. Plan for The Worst  There are a couple of steps one can take to avoid the above situation. First of all, never put yourself in a position to not have money left over after paying all of your living expenses. Secondly, make sure you set aside this left over money for a rainy day so to speak. As I have mentioned in previous posts, I recommen...

Do you think that investing in the stock market is like gambling ? Are you afraid of rolling the dice on an investment ? If you are like many, this is a common misconception ! What Is Gambling First of all, let me say that gambling is an addiction that will kill your financial dreams. Gambling is based mostly on emotion and very little on logic. Most games of chance are designed for you to lose money. The lure of a potential big payout is what keeps people coming back for more. Casinos and Lotteries are big business today. They know that human nature will always take the easy path and hope for the instant windfall. Sad to say that this is the world's biggest legalized scam today. Yes, governments even run lotteries to boost their tax revenue. It works well for them. What Is Investing Investing on the other hand uses mostly logic and understanding of how money is made. Emotions play a very small part in actual investing. A well educated investor takes very little risk ...