MORE than Finances

Get your finances in order, and get on with your life!

By

How to Be a Better Investor

How to be a

Being wise with your money will give you a future that is much more financially secure than it otherwise would be. You will need to learn all of the secrets of investing your money in a wise manner so that it will earn interest and grow. You should also develop wise investment habits that do not put any of the money that you invest in a risky situation. Taking the time to learn some of the most basic things that successful investors do with their money will benefit you greatly. It is never too late in life to start making yourself a better investor. Here is how you can accomplish this goal.

1. Keep a close eye on any investments that you make.

There are many people who make the mistake of being out of the loop where their investments are concerned. They simply trust their investment consultant to make the best decisions for them. However, that would be a huge mistake that you could end up regretting. You need to monitor what all of your investments are doing on a daily basis. Be aware of where your investment consultant is putting all of your money. Have him or her contact you every time a move is made with your capital. This will allow you to see if you are making or losing money. You can then tell your consultant to pull your money out of any investments that you believe are too risky.

2. Be certain that you only invest an amount of money that will not cripple you if it is lost.

Most investments carry a certain amount of risk. Federal savings bonds would be one exception. You need to understand that you might lose a certain portion of the money that you invest. There is even an outside chance that it might all be lost. You should never simply assume that a profit will be made. Smart investors always make plans in case the worst possible thing happens. You should only choose to invest a sum of money that will not financially ruin you it you happen to lose all of it. Never invest all of your savings.

3. Find an experienced investment consultant to help you.

Trying to do all of your investing on your own might have some horrific consequences. This is especially true if you do not have a lot of experience in the investing world. Fortunately, their are many experienced investment consultants that you can choose from. These people make a living handling the money of their clients and trying to invest it so a large profit will be earned. These people will take a percentage of the interest generated as their fee. Make sure that you hire a very experienced investor like Chris Pivik to handle all of your money. Businessman Chris Pivik has spent many years making successful investments.

4. You should always avoid putting all of your capital into a single investment.

This is basically rule number one of investing. You might stumble across an investment that seems like a sure thing. The profits that you could earn are significant. However, there is still a danger you could lose it all. Break up your money into several investments to minimize the amount of risk.

By

I Inherited $30,000, Now What?

best way to invest 30kMany people would like to inherit a million dollars. I don’t need that much, in fact, I need much much less.
However, some people could easily inherit a smaller amount like $30,000. So what should you do if you inherit $30,000? Here are a few ideas.

Start A Business

Running a business, full-time or on the side, can be a great investment. If you start one while working your regular job you have extra money to pay down debt, go on vacation, or grow an emergency fund. On top of that working a job on the side can lead to working it full-time instead of your 9 to 5 giving you more freedom.

Another benefit of owning a business is there really is no limit to the amount of money you can make. You simply put more work in and you’ll get more money out (theoretically). So a $30,000 investment into a business can lead to $30,000 in profit or more depending on the business.

Invest Simply With Index Funds

If running a business is too scary for you or you don’t have the time a simple way to invest is through index funds.

For many, the stock market is a scary place and it feels more like gambling than investing. With index funds like Charles Schwab or Vangaurd offer, you can get invested in the stock market without having to think about it.

Index funds, put simply, own small portions of many stocks. So rather than buying shares of Apple, Microsoft, Best Buy, and others the index fund buys small portions of each of those stocks. As they rise so does the index fund and your risk is lowered.

While some stocks go down, others in the fund go up so the fund itself will go up most days even just a little. Statistically, it is the safest and most reliable way to invest in the stock market. Just look at the history of the S&P and you’ll see what I mean.

Keep A Good Emergency Fund

An emergency fund can be the best investment of your life. Many people in this country are in debt, but if they had an emergency fund in place they would not have gone into debt in the first place.

A good rule of thumb is to have 3 to 6 months of your income in this emergency fund. However depending on your type of job you may want more or less than that. For those of us that work for ourselves full-time, it may be good to have a year’s worth of pay in savings just in case you have a bad year.

Finally, Pay Off Debt

If you have any debt pay that off first, especially credit card debt. Let’s say you have $30,000 in credit card debt. At 15% interest, you will pay $4,500 a year just on interest. If you invested that same $30,000 in an index fund getting 8% back you will only make $2,400.

Do What’s Best For You

It’s going to be different for everyone. Some people don’t have any debt, some don’t have the stomach for business. Look at what your situation is and make the best decision for you.

By

Can I Live Off The Interest On A Million Dollars

Can I Live Off The Interest On A Million DollarsPayday is a week away, but you have expenses today. Yet again you’re going to have to make a payment or two late, but you start thinking what you would do with a million dollars. If you won the lottery or whatever and got that money what would you do?

Ways To Invest A Million Dollars

Some say they would buy cars, houses, or go on a huge vacation. But if you wanted to continue to live off that million you’re going to need to invest it.

Savings Account

Considered the “safest” of ways to invest. You simply put money in and gain a little interest every month. Most savings accounts, however, have a small interest rate usually less than 2 percent.

Meaning that on a million dollars you’ll only get around $20,000 a year. Not really enough to live off of, but it would make it so you could work less at your full-time job, maybe even work part time.

Stock Market

This is where the big boys (and girls) play. Instead of just putting money in a savings account, the stock market provides a lot more growth.

The average return for the stock market is about 7% meaning your money will grow by $70,000 a year. If you invest in dividend stocks you’ll receive around 4% or $40,000 without ever selling your stocks. In essence, you’ll be paid $40,000 and your money will be worth $70,000 more so your annual “pay” would be $110,000.

Real Estate

There are many types of real estate investing, but for simplicity, we will focus on just two.

First, we have house flipping. Essentially you buy a house that’s in a good neighbourhood but is run down and as such is selling for cheap. You then either fix it up yourself or hire someone to do it. After the property is up to par with the neighbourhood you now sell it for more than you paid for everything and pocket the profits.

For some, this is their full-time job (just watch HGTV) and you can make a lot of money doing it. But it can also be very stressful.

The second way to make money through real estate is to buy a property and rent it out. This seems straight forward, but buying something and making sure that there is always someone living there to pay the rent can be stressful.

What’s Best For You?

No one but you can know what will work best for you. The no stress way to invest is the savings account, but you’ll also not make much. Dividend investing is great but brings its own stress, and you’ll have to watch your investment go up and down with the market. Real estate involves a lot of money up front before you see anything in return.

Can I Live Off The Interest On A Million Dollars

Yes, you can live off the interest on a million dollars. You may have to cut back on some things if your income is about the national average, but it can be done.

By

Can You Really Make Money Selling Amazon FBA?

Can You Really Make Money Selling Amazon FBA-Making extra money, or replacing your income is something many people want to do. A quick google search will give you thousands and thousands of possibilities. The next question though is do these different things ACTUALLY make money?

When it comes to Amazon FBA (fulfilled by Amazon) the answer is yes and no.

How Does Amazon FBA Work

A large portion of what sells on Amazon is not actually sold by Amazon. A lot of it is sold by regular people like you and me. One of the best ways to do that is with a service called FBA, where Amazon actually does most of the work for you.

Now, they obviously don’t do this out of the goodness of their heart, so the fees are higher if you sell this way. However, the stress is far less as you don’t have to ship each individual item, and your house doesn’t become a warehouse full of stuff.

Why Wouldn’t I Make Money?

The concept of selling on Amazon is that you find products selling for less somewhere, and then you sell them on Amazon for a profit. In a perfect world it would be that simple, but there is a lot to consider.

For instance, if you buy and item for $10 and it’s selling for $12 you don’t make $2, in fact you’ll lose money in this situation.

First, you’ll have to pay to ship the item to Amazon. If you send a large shipment the cost on this one item will be small but still a cost. Then you have the fees that Amazon takes to be the middle man. Depending on the size and weight of the item you will see a few of $6 to $10 on a $12 item. So if you paid $10, sell for $12, and Amazon takes $6 you get back $6 or $4 less than you paid.

Another problem that will happen is that prices drop after you decide to buy something. When you first pick something to sell the price may be good, maybe even really good. Something you spend $20 is selling for $90 and even after fees you’ll make $50 profit. However, by the time the item arrives and sells the price has dropped from $90 to $20 meaning you’re now selling at cost and will lose money after fees.

These things don’t always happen but can be a reason you don’t make money, or even lose money with an Amazon FBA business.

How Quickly Will I Make Money

If you run the business correctly however and work at it for a few months you will start to see a profit every month. It will be up to you on how long you want to reinvest the profit before you start taking some pay from this business, I would recommend not doing so for at least 6 months though.

However, if you just want to try it out first and see how it works, don’t expect to see profit for a month. First, you have to purchase the inventory, then ship to Amazon, then wait for it to sell, and after all that you have to wait for the sale to finalize.

From the day you buy the inventory to the day you see your money come back will take a month, be prepared for that when starting an Amazon FBA business.

By

India Westbrooks Net Worth

India Westbrooks Net WorthWouldn’t it be nice to have a camera crew follow you around everywhere? You can post all the amazing and fun things you do, and then make millions because of all the fans.

Honestly, no one’s life is that interesting, but there are so many reality stars who are making that kind of money doing just that. India Westbrook , or India Love, is such a girl.

Who Is India Westbrooks?

India Westbrook is a 21 year old reality and social media star. She posts pictures of herself online for her more than 2 million followers.

She is also the most famous of the sisters from the show The Westbrooks. All of the girls have some sort of business but, India is by far the most successful.

What Is India Westbrooks Net Worth?

India Westbrooks net worth is a nice $1.3 million dollars.

Most would say that she got there by being young and attractive and posting pictures of herself in bikinis and such. They wouldn’t be far off, although she has to work at many things.

First, her health is important. Though age is on her side and that helps to have a slim body, she still has to spend hours working out. No matter who you are you don’t maintain a slim figure without eating right and exercising, that just doesn’t make good television.

Second, she had to get good at taking pictures. Yes selfies are not as easy as you think. She has to be able to take a picture that will not only make people want to look, but then want them to buy something, as she gets money from advertising in the pictures she takes. The clothes she wears, the shoes, accessories, anything can be a sponsor of hers paying her for advertising.

What We Learn

Hard work is hard work. Have you ever tried to stay in perfect shape 100 percent of the time? It takes hard work, and dedication. The original Hulk (Lou Ferrigno) once said that to stay in shape for that show he had to work all day shooting and then go to the gym every night for hours. It was hard work to be at 100 percent 100 percent of the time.

Maybe we don’t need the perfect body to succeed, but do you need to better yourself in someway? Can you spend more time reading about your field? More conferences, more online training, more reading of books, etc. Make sure that whatever it is you’re working on you are at 100 percent.

You’re never too young to make money. India started from a young age to try to grow a following, and she wasn’t successful right away. Eventually she started getting followers, then more, all because she didn’t give up. She didn’t think she was too young to become rich and famous.

Some are in their early 20’s and think they don’t have anything to offer. Even late 20’s people feel they can’t possibly make it till they are in their 30’s at least. The truth is at any age you can succeed, you just have to put the work in whether your 16 or 106.