Month: May 2022
5 Easy Tips To đź’°Save Moneyđź’°…Money Saving Hacks
Jason 0 Comments Tips for Retiree's
I’m going to do a video on 5 simple things you can do to help your financial situation and I realized that I need to do a follow-up to the retired at 40 story video because there’s a huge need for financial education in this country and really everywhere it pertains to every single person doesn’t matter what your financial status is you can always use help and there’s always little tip tips and tricks that and things that you can do to better your status it always amazes me how scared people are to talk about their finances to put something on paper to basically take a look at where their money is going what’s getting saved and how everything is getting spent and I’ve met people time and time again that are highly educated very smart people but they know nothing about finances and they are terrible with money management so before we get into the 5 tips I want to strongly urge you to make a financial statement for yourself figure out where your money is going currently and figure out how much you’re saving and basically figure out where you can trim the fat for so many people a financial statement or just finances in general is like a bad word they’re just terrified of it but the only way that you’re gonna be able to improve your finances is to face the music alright so now that you’ve had a chance to go through your financial statement you definitely know where your money is going but how can we save more and what you really need to aim for is about 6 months of reserves especially if you’re getting ready to invest money into something or if you’re doing some kind of career change or some life-changing thing and all of these five tips will more than likely be a line-item on your financial statement so let’s go to financial tip number one hey I’m going to have to call you back I’m shooting a video right now so this first thing is something that we’ve all become very very accustomed to in the last 10 to 15 years and that is a cell phone and people tend to spend absurd amounts on their cell phones whether it’s the bill or the cell phone itself mainly the cell phone itself so that’s my first financial tip is shop on eBay or Amazon for a cell phone that’s refurbished or used or one this may be just a couple years old I actually just purchased a cell phone on ebay because I’m having trouble with my current one and I got on to my cell phone providers website and the most expensive phone that’s like mine now is $1,200 that’s insane to me so I got on eBay I found one that’s similar to the one I have right now it’s new but it’s a couple years old and I got it for less than $200 another thing that you can do is ask for some kind of loyalty benefit from your cell phone provider cell phone providers are constantly trying to earn your business and if you’ve been with them for a long time and you can convince them to keep you around by offering you some kind of benefit they’ll jump on the chance just by going into my provider recently I have a cell phone bill that was about a hundred and ten dollars a month I told them that I’ve been with them for close to 15 years they knocked it down to sixty-seven dollars and I have unlimited everything now tip number two is what I call going to youtube University or getting a YouTube education we live in the most amazing time ever right now there is information everywhere and it’s so easily accessible don’t ever stop educating yourself it’s so easy to find out how to do things these days you’re doing yourself a huge disservice if you don’t take advantage of that so how does that pertain to saving money well you can save money by doing tons and tons of things yourself instead of paying someone else to do it just look at the platform that you’re watching right now for instance you’re watching a video on how to do something so that how-to can be anything from changing brake pads on your car to changing the oil on your car to fixing a leaky faucet or the toilet flapper not working on your toilet all the way to how to the meal which brings me to my next point number three so food is a necessity in life but is it a necessity to go out to eat or go to Starbucks once or twice or every day the amount of money that people spend on food and going out to eat fast food Starbucks McDonald’s it really adds up quick and I don’t think that people realize how much money they’re actually spending on it because it’s just five or six or seven dollars here and there but if you add that up over the course of a month or a year or five years or ten years I think the result would be pretty staggering cook your meals at home pack your lunch for work make that fancy coffee at home it’s not that tough to do there’s so many great ideas and resources on YouTube and Pinterest and vlogs and blogs this channel included if you need a place to start scroll through my channel I have lots of cooking videos if you want to take that a step farther you can start growing your own food and if you don’t have a big green house like this you can grow a lot of food just in five gallon buckets even on a little deck if you don’t know where to get started see tip two number four is something that really hits home for me because me and my wife are both self-employed and we have been for 15 plus years so number four is insurance and although I don’t like insurance companies because I think they’re a giant scam it’s a necessary evil and you can also use that to your advantage you can put them against each other insurance companies much like cell phone companies are begging for your business and they’re constantly trying to outdo each other with with certain benefits or promotions so make them put their money where their mouth is and put them up against each other constantly and not just insurance companies you can do this with all kinds of different companies you should always be price checking these companies the ball is in your court make them earn your business all right I’d saved the best for last tip number five is taking advantage of bank account and credit card bonuses and this tip is begging for a separate video all on its own because I could go on about this for a long time but if you’re not taking advantage of credit card bonuses for sign ups or credit card cash back or travel miles or if you sign up for a bank account a lot of them will give you a large sum just for putting your money with them now I want to be clear I’m not promoting just going out and spending a bunch of money on a credit card but more putting the things that you already spend money on into the credit card it’s money that you’re spending anyways put your mortgage on a credit card if you can insurance is a good one it’s not super expensive but at least we’ll get you a couple hundred bucks on your credit card unless of course it’s health insurance and then you’re talking in my case thousand to twelve hundred dollars a month here’s another good one groceries it’s something that you always have to have and depending on how much you go to the grocery store it could add up to three or four hundred bucks a month sometimes six hundred maybe even more no-brainer here put your gas on a credit card you can always put your utilities on your credit card too if your utility company will allow it next from tip one your cell phone bill now depending on how much some of these are and if you are allowed to actually put them on your credit card you’re talking some pretty major money that you can get a bonus from if you’re getting two percent cashback that really adds up not only that but you’re increasing your credit score while you’re doing that so as long as you’re financially responsible and you pay this every month you’re reaping a large benefit a lot of credit cards will give you a 2% cashback they’ll give you a $500 signup bonus that’s free money in my opinion the free bank bonuses or even better than the credit card in my opinion because the bank account is something that you have to have anyway a lot of them will give you $500 for a small deposit as long as you put your direct deposit with them all the way up to I’ve seen $1,000 before and if you have a little bit more money to play with some of the online money market accounts like Capital One will pay you up to 2% or some even up to 2.5% just for keeping your money with them so some of these things may not seem like it’s saving you a ton of money but when you take up those extra fives and tens and occasional hundreds and you put them to work for you as opposed to something that you’re normally spending you’re not only saving the money because you’re not spending it but you’re putting it to work and doing something else with it and you’ll find that your your finances will start to collect very quickly so if you found the video helpful and you enjoyed the content take a second to give me a thumbs up it really helps out the channel and it helps the YouTube algorithm get this video out to people who actually need to see it also don’t forget to subscribe we do some gardening some frugal living some food preservation and cooking some gardening and you get to join me and my family on our retirement at the age of 40 after you’ve clicked subscribe click the bell notification also and it will notify you every time a new video comes out and it’ll keep you in the loop of the community all right I appreciate you sticking with me through this whole video so I’m gonna give you an extra bonus tip with an extra 100 or 200 or 300 or more dollars per month that you’re saving with just cutting back on a few things you take that extra money and you pay down debt with it the faster you get out of debt the closer you’re going to become to financial freedom and whenever you’re paying off debt always choose the smallest balance first because it gives you that extra little boost and if you can pay it off faster it gives you that extra bit of confidence to rock into the next one so once you’ve paid down your smallest debt move on to your next smallest debt take that money that you’re saving from the smallest debt that you’re not having to pay any more and add it to the money you’re saving from the 5 tips that I’m giving you and apply it to the next smallest debt and when that one’s paid off you roll it into the next one you roll that one into the next one and so on and so on in the meantime this is retired at 40 check out these other helpful videos if you have a minute remember to live a life simple and we’ll catch you next week oh hey I’m gonna have to call you back and shooting a video right now this is right my god get out of debt
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Read MoreHow to Retire Early: The Shockingly Simple Math
Jason 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. .
As found on Youtube
Read MoreMen’s Health Month: The most common lung illnesses and how it can be treated
Jason 0 Comments Health for the Retired
BE SOMETHING MINOR OR COULD BE SIGNS OF SOMETHING WORSE IN YOUR LUNGS. OUR 18 NEWS REPORTER JULIO AVILA SPOKE TO A LOCAL DOCTOR ON WHAT SOME OF THE MOST COMMON LUNG ISSUES MEN FACE AND WHAT YOU CAN DO TO MAKE SURE YOUR HEALTHY. JULIO AVILA: Goof afternoon everyone, Julio Avila here. I’m with Dr. Mohammed Aziz the Chief Pulmonary and Critical Care physician at Robert Pack Hospital in Sayre. Right now we’re going to be talking about lung health that affects men. Thank you for being with us. So when it comes to pulmonary health, what are some of common issues especially when it comes to lung issues that affect men? DR.
MOHAMMED A. AZIZ: The most common issue with men are lung cancer, number one, the COPD, and asthma. On the other hand, the asthmatics, if you have a history of asthma, they’re more prone to their bronchial constrictions or more, I should say, episodic attacks in the winter. Lung cancer is the number one killer in all the cancers. The signs and symptoms in lung cancers are very subtle. Most of the time when we see patients it’s prettyfar advanced. You never get symptoms when you’re at an early stage of a lung cancer. Usually it’s the late stage. Again it starts with a cough, usually sometimes people start coughing up blood and that is sometimes they’ve got chest pain and we want to make sure we catch the cancers early. That;s when we can do the treatment, the first stage, it’s treatable, it’s curable if it’s picked up by the first stage.
I would highly recommend all people out there who are current smokers or former smokers and they smoke at least 30 packs, Believe it or not that’s the first symptom that usually patients present with that they have cough in the afternoon, in the evening, and they can’t get rid of the cough and then it transform into shortness of It’s dehydration really, it dries out their secretions and they become more symptomatic and become more short of breath. THANK YOU JULIO, 18 NEWS AT WILL BE RIGHT BACK! WE’LL BE RIGHT BACK…
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As found on Youtube
Read More5 Things To Do 5 Years Before Retirement
Jason 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
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Read MoreRich Thinking vs Poor Thinking: Embracing an Abundance Mindset
Jason 0 Comments Tips for Retiree's
In this video I’m going to reveal the key differences between rich thinking and poor thinking to help you crush your goals. Coming up! Hey, I’m Dr. Brad Klontz, your financial psychologist! On this channel, we help you transform your relationship with money, master the psychology of wealth, and live a life of abundance! So, if you’re new here, please subscribe and click the bell so you don’t miss anything! Studies have shown big differences between how rich people think compared to poorer people.
The secret is this: your beliefs about yourself, the world, and what’s possible are entirely created by you, in this moment, and they determine your results. Now that’s heavy. One of the biggest differences is that poor thinking is all about a scarcity mindset. If you want to enjoy wealth and success, you need to abandon your scarcity mindset. Scarcity is defined as the state of being scarce or in short supply. It means deficiency, deficit, inadequacy, or undersupply.
Yuck. Now look, I know that for many of you money IS in short supply, at least right now anyway, so it makes sense that you’re experiencing some scarcity. But the problem with scarcity thinking is that if you aren’t careful it consumes you – like a dark, stinky cloud that covers you. You see scarcity all around you – not just not enough money, but not enough love, not enough opportunity to go around, a lack of trust – when you are looking for it, you can see scarcity everywhere. See if any of this fits for you: When someone is nice, do you assume that they have a hidden agenda? When something good is happening, do you hold back your joy because you’re waiting for the other shoe to drop? If you fall in love, do you become paranoid and worried that you’re going to get hurt. Do you not trust your business partner? Are you so afraid someone will steal your business ideas that you don’t share them with anyone else? Do you doubt that opportunities exist for you, so you don’t bother looking for them? Do you think you aren’t smart enough or worthy enough to be successful? If you said yes to any of these questions, please know that I get it! I understand.
Of course you believe these things. You’ve been hurt by others – perhaps even by the people you should have been able to trust the most. You grew-up poor. People have taken advantage of you. You’ve been let down. You’ve been disappointed. You’ve tried, and tried, and tried but have failed. You’ve arrived at a scarcity mindset honestly. In fact, you’ve probably inherited this scarcity mindset from the people who have let you down. In many ways they’ve disappointed you because they had a scarcity mindset themselves – believing that they need to take from you because there isn’t enough to go around. The real problem with scarcity thinking is that becomes a self-fulfilling prophecy. When you don’t trust someone else, they will start to become untrustworthy. As your paranoia grows, they’ll start to get anxious and worried about upsetting you, so they’ll start hiding things from you and sure enough, when you catch them, you think ha, I knew it, I can’t trust anyone! But did your scarcity mindset help create this situation? When you’re anxious and you hold back the depth of your love because you don’t want to get hurt, before long your lover will leave you.
He or she will prove your scarcity thinking right, because you helped create it. If you’re desperate for money, people will sense you’re only out for yourself and they’ll avoid you, like the plague. They’ll end up despising you. If you’re only out for yourself, rich people will avoid you, and so will wealth. A scarcity mindset stinks and it can be so contagious, so people who are truly rich, people who live in abundance will avoid you.
If you want to think like the rich, if you want to get rich. you need to embrace an abundance mindset. Abundance thinking is the total opposite of scarcity thinking. Abundance is defined as a large quantity of something. Synonyms for abundance include boatloads, globs, oodles, plenty and heaps. Abundance assumes that there is plenty to go around – plenty of love, globs of money, and boatloads of opportunities. When you embrace an abundance mindset, you start seeing opportunities all around you. Doors begin opening for you.
Doors that have always been there but you hadn’t noticed before. When you’re living a life of abundance, you give love fully, deeply, and fearlessly, without regret. And of course, your lover loves it! In fact, everyone loves it! They want to be around you. They want to share your passion. They want to do business with you. They want to buy your products. They want to spend time with you. They want to help you, because your abundance mindset is contagious, and it feels so good to be around you. When you have an abundance mindset, instead of fearing sharing your ideas with your “competition,” you look for opportunities to share with them – to collaborate with them.
To work together. You help them grow, and guess what happens? They help you grow! You’re totally committed to your business partner’s success so committed that he or she would never think of betraying your trust – they would be a fool to do so, because you keep bringing so much to the table. So how do you abandon your poor thinking for rich thinking? Let’s do it right now. In this moment. Let”s do an experiment. Right now – You have a choice: You can spend the next 10 minutes focusing all your attention on your problems, on your failures, on your betrayals, on all the barriers to your success. Or, you can spend the next 10 minutes getting excited about searching for and noticing the opportunities around you – the beauty, the love, your strengths, your passions, your goals, your gift to the world – a gift you must give to the world – and you definitely have one, I promise! Embracing an abundance mindset IS the pathway to success and it feels great, and don’t you want to feel great? Special thanks to Your Mental Wealth Advisors and the Heider College of Business at Creighton University for helping sponsor this channel.
As found on Youtube
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