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Hub You - Wealth Building Simplified - An Easy Guide To Financial Planning
When you hear the term “search engine optimization,” do your eyes glaze over? I know mine used to, until I studied the practice intensively. I don’t know everything, and quite frankly, I don’t think it’s possible. SEO is like sticking your finger into a pile of mud and pulling out a diamond. Nobody online today knows what the search engines’ algorithms are exactly and even if someone did, the knowledge wouldn’t last because the search engines are changing all the time.But there are a few very simple things you can do to your web site to make it more search-engine friendly.First, research keywo
3. Consistency
Explanation: Along with continuity, fix and invest a consistent amount at consistent time intervals, say every month. A consistent amount (at least 10% of monthly income) invested every month over the long time-frame discussed above will ensure decent returns and a very good corpus.
Bottom-line: Just TOP-UP every month and let compounding work its magic!
4. Calm
Explanation: If the above C's are followed, then the most preferred investment
If you are on a strict household budget help keep it in line by not spending too much for a car. When considering buying a family car consider a buying a good used car, such as, the Ford Taurus. You can find a wide variety of lightly used cars around three years old that cost a fraction of what they cost new and they still have many ears of life left in them. With the costs of everything going through the roof you need to save money every chance you can especially if you have a family or are on a tight budget. Since a car is a family’s second largest expense right after a mortgage why not try to save on your transportat
I have come up with 5 C's that one should keep in mind for a peaceful and successful wealth building effort:
1. Compounding
Explanation: There are 2 way to provide interest on an investment; Simple and Compound interest. Simple interest is when an amount is paid as interest on the initial amount (Principal) at a fixed percentage. For e.g, for Principal of 100, Simple Interest for 2 years at 10% per year would mean 20 as interest (10 per year multiplied by 2 years). Compound interest is when the Interest earned is added back onto the Principal and the next year's Interest is paid on the enhanced amount. For e.g, for Principal of 100, Compound Interest for 2 years at 10% per year would mean 21 as interest (10 for 1st year and 11 for 2nd year).
Bottom-line: Compounding is GOOD! It means the money works harder and earns more. Just to drive the point home, consider this: An amount of 100 invested at an interest of 10% per year on Simple Interest would end up as 200 at the end of 10 years while if the same is invested at 10% per year Compound Interest, it would end up as almost 260 after 10 years! So, always give preference to an investment where compounding applies!
2. Continuity
Explanation: Whether one invests in the Stock Market or in Bank deposits, the best way to do regularly over a long period of time as opposed to big chunks of stop-start investments. Therefore, aim to invest continuously over a longish time frame, say 25 years of your working life, from the time you are 25 years old till you are 50. Needles to say, the earlier you start and the longer you do it, the more wealth you will end up with.
Bottom-line: Do it over a LONG TIME FRAME! And invest continuously and regularly over this time frame. As much as possible, do not disturb the investments.
3. Consistency
Explanation: Along with continuity, fix and invest a consistent amount at consistent time intervals, say every month. A consistent amount (at least 10% of monthly income) invested every month over the long time-frame discussed above will ensure decent returns and a very good corpus.
Bottom-line: Just TOP-UP every month and let compounding work its magic!
4. Calm
Explanation: If the above C's are followed, then the most preferred investment a
Many retail stores want to offer you a line of credit. But before you sign up to get 10% off your purchase and a free umbrella, you need to understand the effect that such cards can have on your credit—both good and bad.“If you apply for a {fill in name of store here} credit card today, you will receive a 15% discount on your purchase.”Oooh. What diehard shopper wouldn’t be tempted?Lately it seems that every consumer purchase is prefaced with an offer to apply for a credit card. Not Visas or MasterCards, but cards issued with a retail store’s name on them for exclusive use at that store. J.C. Penney
I have come up with 5 C's that one should keep in mind for a peaceful and successful wealth building effort:
1. Compounding
Explanation: There are 2 way to provide interest on an investment; Simple and Compound interest. Simple interest is when an amount is paid as interest on the initial amount (Principal) at a fixed percentage. For e.g, for Principal of 100, Simple Interest for 2 years at 10% per year would mean 20 as interest (10 per year multiplied by 2 years). Compound interest is when the Interest earned is added back onto the Principal and the next year's Interest is paid on the enhanced amount. For e.g, for Principal of 100, Compound Interest for 2 years at 10% per year would mean 21 as interest (10 for 1st year and 11 for 2nd year).
Bottom-line: Compounding is GOOD! It means the money works harder and earns more. Just to drive the point home, consider this: An amount of 100 invested at an interest of 10% per year on Simple Interest would end up as 200 at the end of 10 years while if the same is invested at 10% per year Compound Interest, it would end up as almost 260 after 10 years! So, always give preference to an investment where compounding applies!
2. Continuity
Explanation: Whether one invests in the Stock Market or in Bank deposits, the best way to do regularly over a long period of time as opposed to big chunks of stop-start investments. Therefore, aim to invest continuously over a longish time frame, say 25 years of your working life, from the time you are 25 years old till you are 50. Needles to say, the earlier you start and the longer you do it, the more wealth you will end up with.
Bottom-line: Do it over a LONG TIME FRAME! And invest continuously and regularly over this time frame. As much as possible, do not disturb the investments.
3. Consistency
Explanation: Along with continuity, fix and invest a consistent amount at consistent time intervals, say every month. A consistent amount (at least 10% of monthly income) invested every month over the long time-frame discussed above will ensure decent returns and a very good corpus.
Bottom-line: Just TOP-UP every month and let compounding work its magic!
4. Calm
Explanation: If the above C's are followed, then the most preferred investment
If you’re a solo professional like I am, you know how tough it is to find any time at all to do any business planning. Doing a full business plan is a must if you’re planning to seek financing or investors, but most solo professionals don’t need anything that complicated.Don’t get me wrong, business planning is one of the most important things you need to do to succeed in your one man or woman show. Without planning you’ll drift aimlessly from one crisis to the next and one idea to the next, never really getting anything done.So, what’s a solo pro to do? Here’s what I do in my own business:My busines
Bottom-line: Compounding is GOOD! It means the money works harder and earns more. Just to drive the point home, consider this: An amount of 100 invested at an interest of 10% per year on Simple Interest would end up as 200 at the end of 10 years while if the same is invested at 10% per year Compound Interest, it would end up as almost 260 after 10 years! So, always give preference to an investment where compounding applies!
2. Continuity
Explanation: Whether one invests in the Stock Market or in Bank deposits, the best way to do regularly over a long period of time as opposed to big chunks of stop-start investments. Therefore, aim to invest continuously over a longish time frame, say 25 years of your working life, from the time you are 25 years old till you are 50. Needles to say, the earlier you start and the longer you do it, the more wealth you will end up with.
Bottom-line: Do it over a LONG TIME FRAME! And invest continuously and regularly over this time frame. As much as possible, do not disturb the investments.
3. Consistency
Explanation: Along with continuity, fix and invest a consistent amount at consistent time intervals, say every month. A consistent amount (at least 10% of monthly income) invested every month over the long time-frame discussed above will ensure decent returns and a very good corpus.
Bottom-line: Just TOP-UP every month and let compounding work its magic!
4. Calm
Explanation: If the above C's are followed, then the most preferred investment
A special yearly issue of Success Magazine called "The Selling Issue" quoted Scott DeGarmo,"The big money goes to those companies with superior marketing operations. Entrepreneurial companies of today must evolve from being sales oriented to being marketing oriented in order to now win the consumer."Let me explain why it's important to focus on marketing instead of selling. There was a time known as "the days of simple selling." The days of simple selling are generally considered the days before 1980 or, in some industries, before 1990. In this period of selling, it was a lot easier for a salesperson to go
2. Continuity
Explanation: Whether one invests in the Stock Market or in Bank deposits, the best way to do regularly over a long period of time as opposed to big chunks of stop-start investments. Therefore, aim to invest continuously over a longish time frame, say 25 years of your working life, from the time you are 25 years old till you are 50. Needles to say, the earlier you start and the longer you do it, the more wealth you will end up with.
Bottom-line: Do it over a LONG TIME FRAME! And invest continuously and regularly over this time frame. As much as possible, do not disturb the investments.
3. Consistency
Explanation: Along with continuity, fix and invest a consistent amount at consistent time intervals, say every month. A consistent amount (at least 10% of monthly income) invested every month over the long time-frame discussed above will ensure decent returns and a very good corpus.
Bottom-line: Just TOP-UP every month and let compounding work its magic!
4. Calm
Explanation: If the above C's are followed, then the most preferred investment
There is no question that as a small business owner you have persevered and worked hard, dedicating your life to the success of your company. That being said, don’t you think a company you put all of your energies into, deserves the chance at having a happy ending? Have you considered the impact your death, disability, retirement, or even divorce could have on your small business ?If you are the owner of a small business it is time for you to stop thinking of only what is happening now, and start focusing on what could happen in the future. Therefore, you need to put your priorities into perspective by protecti
3. Consistency
Explanation: Along with continuity, fix and invest a consistent amount at consistent time intervals, say every month. A consistent amount (at least 10% of monthly income) invested every month over the long time-frame discussed above will ensure decent returns and a very good corpus.
Bottom-line: Just TOP-UP every month and let compounding work its magic!
4. Calm
Explanation: If the above C's are followed, then the most preferred investment avenue is Equity investments. By their nature, equity markets are fickle and will move up and down. But long term investors should not really worry about this as over a long time horizon (10 years or more), equities are almost certain to give positive returns. So, invest in equities for the long term and keep CALM!
Bottom-line: Traders who want to make some margins everyday are the ones who should worry about the market movements everyday. For Continuous and Consistent investors, the short term market movements are best ignored.
5. Caution
Explanation: Be wary of new investments ideas that are thrown your way. If you don’t understand it, ruthlessly avoid it.
Bottom-line: Caution is better than regret. So, err on the conservative side.
Conclusion
An investment option that usually combines all the above C's is most of the good equity mutual funds. So, all one has to do is pick a good equity mutual fund, set up a systematic investment plan with this fund that ensures a fixed amount of money is invested every month directly into this from the bank account and then sit back and see it grow. Most funds charge some fees for managing the investments but this is a worth it given the convenience offered. Of course it is recommended that you track the funds' performance every half-year, if not every quarter and if you see that the performance is slipping up consistently over a few quarters, then it is time to switch funds and set up a systematic investment plan with a different fund house. Another safe option to consider is Index funds which are linked to the market index. The management fee is very low but this will give just the market rate of return and nothing more. This is not bad but an actively managed fund, for a slightly higher fees, usually out-performs the market on most occasions. Good luck for a successful wealth building exercise!
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