Creating a Financial Plan For Retirement

Creating a Financial Plan for Retirement is a must. This article will explain the basics of retirement planning, including the 4 percent rule. There are many other important tips that can help you create a financial plan for retirement

. Make sure you start with an accurate retirement projection so you can stay on track. You can also work with a financial advisor to create a personalized retirement plan that is customized to your unique needs. We hope you will find these tips useful.

Tips for Financial Planning For Retirement

There are many benefits to cutting down on your expenses as you approach retirement. You can have a larger retirement account if you start paying off your mortgage early or downsizing your home. By focusing on your retirement savings early, you will be more comfortable spending less now and more later on.

Another benefit to cutting down on your spending is that you will be able to keep more money for everyday living when you are retired. Getting out of debt is a must. Paying off your mortgage and credit cards will also allow you to retire without needing to return to the workforce.

After retirement, you’ll need to start saving for the transition from a regular income to a fixed income. You may want to consider reducing your spending and starting a side business, or obtaining a second job to supplement your income.

You can also consider downsizing or moving if the amount of income you have now isn’t sufficient to cover these expenses. The amount of money you need to save will vary depending on your current income and the number of years you’ll need to retire.

Retirement Statistics From RITAUS.ORG

71 percent of Employers believe employees meet the retirement conditions

In 2021 56 percent of workers enrolled in retirement plan.

Military Retirement will grow to 2,1 million

How to Create A Financial Plan For Retirement

As you get closer to retiring, you should make a financial plan for retirement. This way, you will have a roadmap that will help you align your expectations with your financial reality. Your financial plan will help ensure that your money lasts for as long as you need it to.

To make sure that you are prepared, here are some tips that can help you create a retirement plan. Here are some of the most important steps to take.

First, you must identify your desired lifestyle. Once you have an idea of your dream lifestyle, you can begin to determine your financial resources. Consider whether you have enough assets now to meet your vision. If not, adjust your vision accordingly.

You should also analyze your current expenses and identify any discretionary expenses. The next step is to consider your health care and estate planning needs. You can also consider your savings goals. Creating a plan can help you feel more confident about your finances as you approach retirement.

What Are the Basic Steps of Retirement Planning

Before you start retirement planning, you’ll need to know your projected age and risk tolerance. Your retirement income will likely come from Social Security, a pension, IRA accounts, other savings, or part-time work.

When making investment decisions, consider the after-tax benefits of each and consider the timing of your income sources. You’ll need to factor in inflation and potential risks. Inflation will erode your income over time. You may live to be 100, so inflation will reduce the purchasing power of your income.

Health care is another major expense in retirement. While Medicare will cover some of these costs, you may need to plan for unforeseen medical costs, such as cancer or a heart attack.

You’ll also want to set aside funds for discretionary expenses, such as food and entertainment. These funds are intended to improve your quality of life in retirement. Additionally, healthcare costs are expected to increase over time. Most living expenses are affected by inflation, but healthcare expenses may rise more than the rest.

Great Questions and Answers on Retirement Click Here

What is 4 Percent Rule Saving For Retirement

The 4% rule is a common estimate of the amount you need to save for retirement. It assumes that you will keep spending at the same level throughout your retirement, but you should take into account that you can experience withdrawals of more than 4% of your account.

While the 4% rule is an easy way to determine the amount of money you will need to withdraw, it should be used in conjunction with other strategies.

The 4% rule assumes that your annual spending will increase by the rate of inflation every year, regardless of how the market is doing. This rule may not be for everyone, however, and it’s a good idea to remain flexible and evaluate your plan every year or whenever a significant life event occurs.

If the market is not performing well, you may not feel comfortable increasing your spending. However, if markets are performing well, you may feel inclined to spend more money on things like nice-to-haves, medical expenses, and a legacy for your family.

What is Example Of Retirement Plan?

As you work towards retirement, you will need to think about how much you are likely to spend each month. In the last century, inflation in the U.S. averaged 3.22%, so it is essential to factor in these costs. You also need to factor in your daily expenses.

After all, if you don’t have a mortgage and childcare expenses, you will have very little money. However, if you are working in a competitive industry, you can invest a portion of your salary into a retirement plan.

Defined contribution plans don’t guarantee a certain payout for the retirement. Instead, they involve contributions from both the employee and the employer. Unlike other retirement plans, the employee must take on the risk of investing.

The account value fluctuates depending on the value of investments. A defined contribution plan is more risky, since it is based on the employee’s contributions. However, it’s possible to earn a high interest rate on investments.

More Statistics of RITAUS.ORG

61 percent of Hispanics have Retirement Savings

64 Percent of Blacks have Retirement Savings

80 percent of Whites have Retirement Savings

Retirement Planning Calculator

While using a retirement planning calculator can be beneficial, you should not rely solely on it. While retirement calculators are great starting points, they cannot replace the personalized planning and detailed reports you can get from a professional financial planner. Your retirement planning should be based on your current situation and financial circumstances and not a formula

. For this reason, it is important to work with a qualified professional. To make sure you’re on track for a successful retirement, consider using an online retirement planning calculator.

One way to use a retirement planning calculator is to enter the current amounts you are spending. You should know what you need after retirement, how much money you currently invest, and what your annual expenses will be during retirement.

You should also know how much you’ll need to pay each month, including specific spending on food, transportation, and bills. This way, you can better determine how much you’ll need to save and invest to have a comfortable retirement.

Benefits of Retirement planning

The advantages of retirement planning go beyond the ability to enjoy a comfortable retirement. For starters, contributions to a retirement plan do not have to be taxed until you withdraw them. You can also benefit from tax credits that lower the cost of establishing a retirement plan.

In addition, saving early will help your money compound, generating a good corpus over time. And, as the sole breadwinner of your family, you may find that your income decreases as you age, so you must start saving as early as possible.

One of the most obvious benefits of retirement planning is the ability to keep pace with inflation. Over the past century, the average U.S. inflation rate has been 3.22%. It is critical to consider the impact of inflation when creating your investment plan.

Proper retirement planning can make it easier to keep up with inflation and enjoy a stress-free lifestyle. Listed below are some other benefits of retirement planning. Keep reading for more details.

Great Questions and Answers on Annuities Click Here

Retirement Goals Example

To make sure your money is growing at a steady rate, consider using a Retirement Goals example for financial planning for your future. In retirement, you’ll have less money, but your expenses will be less expensive, including the mortgage and childcare.

By using the retirement savings goal example below, you’ll be able to estimate how much you need to live comfortably in retirement. Once you have an idea of your needs, you can determine how much you need to save each year.

When calculating how much you need to save for your retirement, make sure to factor in the length of time you have to live. For example, if you’re younger and intend to retire in a few decades, you can invest your money in a more aggressive manner, and take on more risk.

However, if you’re older and plan to retire in five or ten years, you might want to invest your money in less risky forms, such as low-risk investments like certificates of deposits.

I have given you a lot of tips on financial planning for retirement What are you going to do? Go to a financial advisor, go through the financial process, or do it yourself. Please comment below.

July 22, 2021

Ten Great Tips on Uranium Stocks

Investing Uranium Stocks can be Risky ?

Investing in uranium miners are what most people are investing in and what they are doing. These companies are doing the mining and this is what you are investing in. They operate the equipment to extract the uranium.

Uranium stocks take a lot of research to understand. I would suggest using dollar coast averaging method. By buying the same amount each month you tend to avoid the market swings when it goes up and down.

You could buy regular stocks, mutual funds, or ETF’S . By buying mutual funds and ETF’S you can get several stocks and be diversified

Is Uranium Good Investment?

A lot of countries are curtailing plans for nuclear energy, IN 2019 the price of uranium came down during Covid, China and India in the next ten years will need more energy as the demand for more energy increases. Six countries are the main supplier of Uranium

Great Information on Uranium Stocks Click Here

Uranium Stock Prices

Uranium Energy is owned by retail investors giving regular power to influence the energy market

Uranium Stocks to Buy

In 2019 it was Cameco A Canadian mining with big ties to China IT was estimated at 5 billion associated with 55 nuclear reactors.

Energy Fuels Colorado Company with United States Ties

Global X ETF Energy Stock with buying Energy Companies

What is Uranium ?

It is actinide series of the periodic state. It has over a 150,000 year life. It is illegal to own by itself without a license.

Uranium Stock ETFS

URNM North Shore Global, URA , UTWV Vanguard Russel 2000 , IWN Ishares Russell 2000 Value ETF

You could also consider Uranium Futures but there is a lot of risk.

News on Uranium Click Here

Why are Uranium Stocks Going Up ?

There is going to be a lot of demand in Uranium in the next ten years . It will increase by over twenty five percent. But you could loose your shirt because what comes up can come down.

Is Uranium Stocks a Good Investment?

Yes if you are diversified and have other investments . Depending on particular investment has to much risk to depend on.

How to buy Uranium Stocks ?

You buy them the normal way online or through a Brokerage Firm.

Uranium Stocks to Buy

Uranium Energy Stocks, EF Energy Fuels, UR Energy. Dension Mine ,

Some of those are Uranium Mining Stocks and some are good Uranium Stocks 2021.

I have given you lot of Tips on Uranium Financials. What are you going to do invest in some of the Stocks, ETF, or Mutual Fund. Please comment below.

July 19, 2021

Eight Easy Ways to Start Investing with Little Money

How can I Start Investing with Little Money

People learning to start to invest will have a lot of questions about Investments. They are investing money with having a lot of them looking for answers. Stock investing takes a solid investment plan. It is a roadmap on how to invest in stocks that will try to reduce mistakes.

One Question is How much should a Beginner invest for the First Time?

It is what a person can invest with little risk that you can afford to loose. A person can figure to start at 500 dollars or 1000 dollars to start off. A person can look other factors that effect like financial information, stock predictions , and Investment calculator. Do a lot research.

Easy Ways to Start Investing with Little Money

The first thing is invest in a index fund or stock. One that follows the S&P 500 should be the best way. Index fund most of the time out performs the average manage fund. It is way of getting investment value. You can invest in ETF’S of 500 S&P is also a better way. You buy the stock from brokerage or internet. You can buy 500 dollars a month if that is what you can afford.

Investments with Dividends

IF you dollar cost average every month this great to way to pay per month to invest in dividends. What is dividends if you do not know . Company with stocks pays you every three months or yearly on income that the company has made . The dollar cost averaging gets you to put in say fifty dollars a month ,every month. A great way to avoid the market swings.

You getting extra money which helps every one, Use an Investment dividend calculator to help you.

Another Way is an Emergency Fund

You could save money over time in a high yielding fund for six months expenses .Get a high interest savings account. So you can get your money out quickly . You could get in an accident or medical problem that could set you back a long time if laid up.

The question is emergency fund how much. The answer is either six months or a year. You can save for the emergency fund each month. How much emergency funds depends on the amount of the expenses.

Great Article on Investing with Little Money Click Here

The least of the ways would be Individual Stocks

Individual stocks have to be picked and there could be risk. You got to have the right ones or things could go south quick. You got to do a lot research ,look at financials , and get good advice. You can do it yourself or get help.

Etf’s vs individual stocks gives you more diversification and less risk than individual stocks. Individual stocks vs index fund is the same answer.

Another great Article on Investing with little money Click Here

Some Statistics on Investing from Financially Simple

If you start investing from age 45 you are going to have to save three times as much than age 25

Women invest more conservatively than men

75 percent of the men’s salary equals women

Economists say it hard to predict a stock price where 50 percent of individuals say the same thing

Over 21 percent of the people are still paying on a mortgage after age 75

The average retirement produces 400 dollars a month for retirement

Another Way is Real Estate

You could get into real estate market two ways. You could get a mortgage on a real estate near me and put a little money down. You need to make sure that you are getting a cash flow coming to cover more than the monthly mortgage payment. The real estate property for sale should appreciate and you will make some money.

The other way in real estate is to invest in a mutual fund or real estate stocks that deals with real estate. You could buy a little at time to build it up in value. Say buy once a month. You will also be taken advantage of depreciation with an asset backing it up

I have given you a lot of tips on investing. Which of the ideas are you going to use, Buy a ETF , Index fund or Real Estate. Please comment below.

July 15, 2021

Secrets of Where to Donate Used Books and Used Cars

Is it good to Donate Books?

Simple answer is yes. You are giving books top places where people can get access books to read and learn. You are not using them. You can can get a tax deduction . You are giving maybe a poor person a chance again to learn.

Why is it important to donate already used Books?

It gives a person a chance to get things that might not have chance to get. They are not of expensive in value and can make great gifts. You can help charities with their causes.

Great article on Donating Books Click Here

The First Place to donate books

Of course would be donate books to library . If they have a friend group there who will take the books and try to sell them for the library. Of course you can get a tax deduction but you got to have a receipt and show documentation. Get a fair value of it. Of course donate books goodwill.

The best books of course are hard to get and popular. Do not give damage books. Where to donate books ?Church groups are great plus recycle ,charities, thrift stores. How about Museums and Prison Library. These are where you can donate books near me.

Make sure the library is taking them. The charities can also resale them.

Where to Donate Used Cars?

The first place would be a charity. Call the charity where you are thinking about donating your car. Check the internet to see if legit. See how much is going to help people and how much is going to administrative to run charity. Talk to them on phone about car value, vin number , transfer legal title .Go over it to get a tax deduction

More information on Donating Used Cars Click Here

Again Check the Charity Out

Donate cars to charities you know about. Some charities spend more more money on themselves than their causes. They could take advantage of say donate cars to veterans. Look for in your case donate cars near me.

See what the donate your car charity spends on salaries. Look on the IRS website for registered charities. If it is a non profit you can get a tax deduction. If you donate more than 500 dollars then use I think that you use Form 8283 with tax return.

Some more Charity Tips

Lets say if you donate car for veterans then send the car to them before the donation is finished . There might be an accident you are liable for. Again say you donate cars to veterans . Sell the car first and take the proceeds and give it to the charity. Most of the time charities get less value if they sell it.

I have given you some good tips on charities. What are you going to do. Check them out better. Spread the wealth in used clothes and used cars. Please explained below.

July 14, 2021

How to Lower My Monthly Bills

What Bills can You Save Money?

Everybody wants to save money and cutting expenses. The best way to do this is what you are spending on your bills and cutting to the bone. If you want to to start it is to start a budget to see where your expenses are going. You can check it out every month to see where to cut expenses . You got to look at loans, food, energy, insurance ,taxes, major expenditures.

What can you afford with 80000 dollar Salary?

The first thing is house payment. If you take about a third of this out for taxes It leaves roughly around 4700 a month net to play with. You could afford in June,2021 a house payment on a 300000 dollar house. You could afford a 400 dollar car payment a month.

Five Surprising Ways to Cut Household Expenses

Cutting down expenses like grocery expenses that you do not need. Why buy steaks if you do not eat them. Do not take trips that you do not need to take right now. Save it for the future. Cut back on the cable bill . Get some free TV . Try not to eat out as much. Stay home and eat cheap. Cut back on the mortgage by refinance. Cutting expenses to bone on your house expenditures on insurance, phone, and electricity.

Read More on Cutting Expenses Click Here

How to Cut Expenses and Save Money

Cutting monthly expenses like getting a cheaper car . Do you need a SUV or can you get by with a compact. Reduce subscriptions like magazines or something on the internet. Do not spend on credit cards where you do not have the money to cover the bill. You are just paying interest

How to save Money on everyday Expenses

Your Loans have to be paid

The Biggest Expense is your Mortgage

If you are paying a mortgage or even rent it is taking about forty percent of your income. You know the expense has to be paid but have you thought about living in a less expensive house or apartment. Live below your means. A smaller payment helps lower the budgeted monthly expenses. A lower interest rate helps with a balance of your loan. This can be personal or expenses for business.

You could get a cheaper loan or lower your house payment . If you have a student loan it could expenses incurred for years . You might want to consolidate the student loans into one and get a cheaper payment. Layoff the credit cards and spend money with cash which you can afford. Debt is always the killer of budgets.

More information on cutting expenses Click Here

Your Travel on Vacation

Are you shopping around for the best cost for travel ,room and board. I hope so. Do you have to go to Europe, are could you spend a weekend in Atlanta do? Do you need the most expensive places or can you settle for something more reasonable. Go to a lot of places on the online and shop around. It could be expense for debit or credit. Get a expense calculator

Helping you explaining that major cost were housing, medical, and transportation and some ideas on how to avoid the pitfalls. Expense to Budget for. Grocery bills can be gotten under control and how one time with the medical can scare you for many years to come. Watching your clothes bills and trips where you can save a lot of money.

How to Cut drastically Expenses?

Can you afford a car payment or a lease of 500 dollars a month.This not a periodic expense but a monthly expense. Do you need a big car or truck expense ? You could save a couple of hundred dollars a month and use the money for something else. Maybe a used car that is couple of years old and not as big.

You could get a Budget Expense Spreadsheet for Grocery Bill

A monthly budget planner could be used for looking at what grocery expenses that you have to have. Do you buy expensive foods or eat out a lot? It something that should ask yourself. Take the smart way out. When I was in my 20’s of course I ate out a lot . What if I had put a little money in a retirement plan that would grow. Hopefully you are older now and want to save instead of spending.

How to Reduce Expenses and Save Money ?

How about Medical Expenses

Medical expenses can cut a huge hole in a budget. A friend got hurt and they had to be operated on and had no medical insurance. They ran up a huge bill and paying on it the rest of their life.They are two ways to pay for medical insurance. If you get Obama Care you have to pay part of the premium. The regular way is through one of the insurance companies. It depends on what income level that you are on and how many people in your family .Premiums can run as much as 600 to 1000 dollars a month. Your local hospitals only accept certain insurance providers. Again one hospital stay will kill the bank.

WHAT BUDGET EXPENSES FOR CLOTHES

Do you ever wonder about walking down the street and you see a person with not the most expensive clothes and wonder what their net worth is. Most of the millionaires dress like this. People that are riding around expensive cars and big houses are lot of time in debt up to their neck. Maybe you go to Walmart or Target and get those kind of clothes and cut your cost and save money. A lot of people cannot tell the difference.

I have given you a lot of ideas on cutting cost. Are you going to shop at target, get a smaller car, not take a trip. Please comment below.

June 24, 2021November 21, 2022

Ten Great Steps on Personal Budgets

So you want to watch where your moneys going. I going to explain ten great steps on Personal Budgets. You are going to set up a Budget 101 statement. You want to know where all your expenses on insurance, credit cards, loans are going

Where do I Start? Personal budgets

You first sit down and get six months bank statements and list all your expenses and income. Put in the each in a category to see what you are spending.

There is two types of budgets .There is the fix budget where cost remained fix each month. The expenses are the same and income is the same. You can make certain changes with out it changing much.

The variable budget is changing every month or day. In other words you got to have your very best estimates to where your expenses are going and income is in different amounts each month.

For Personal Budget Tips Look at Every Item?

To see if you can save more money in budgeting again look at the bank statements for the last six months. The Optional expenses are the ones that needs the most special attention. Always make adjustment. Study it like you were studying for a school final.

You get to set up even if it is a budget for beginners. The budget will tell you what to do .It is a roadmap. The budget will show you what to spend and where It shows you what you can afford and if you can spread a little extra money on yourself. You are trying to cut your expenses.

It will give you a road map It will hep you set goals for what you want. Saving for retirement, going to buy a house, or retiring debt. Goals will make you try harder.

Get Great Personal Budget Information Click Here

What this Does is Create Financial Freedom from Personal Budgets?

You set up a spread sheet to see how you can cut corners. Financial Freedom is reached when you do not have worry about . You could start looking at your budget every two weeks .You find free money that spend on other things.,

How should a Beginner Budget ?

Beginner wants to know How to make a budget

1 What do you want the budget for

2 Learn about money and Budget Planning

3 Get a Mentor

4 Check all Expenses

5 Follow all money coming in

6 Pay attention for all Optional Expenses

7 Set it up on Spread sheet or APP

8 Check every Two weeks

Great Personal Budget Statistics From Spendmenot

24 percent of millennials demonstrate financial literacy

Financial illiteracy cost Americans 415 billion in 2020

Less than half of US States Students to take courses in Personal Finance

The average credit card debt in America stands 6270

Get more great information at Spendmenot Click Here

Personal Budgets – Why You Need Them

Whether you are trying to get out of debt, start saving for a new home, or are just trying to save a little for a rainy day, personal budgets are important. They allow you to track your spending habits and make a realistic assessment of what you can afford.

The first step in personal financial planning is to set goals for yourself. Then rank those goals from the most important to the least important, and create a plan to achieve them. Some goals you may consider are saving for a down payment on a house, paying off a debt, or even getting a second job.

Once you have set your goals, you can use a personal budget to plan your monthly spending. This will help you determine where to cut back and where you can spend a little more.

If you are paying off a debt, you may decide to delay a purchase until you have reached your goal. You may also decide to delay a vacation until you are in a position to pay for it.

How do people live on Small Budget?

They got to understand the budget process. They have to look at a Fixed Budget and Variable Budget. They look at all expenses and income and set goals. They set up a budget and follow it. They stick to a plan.

How Does a Single Women Create a Budget?

She got to understand her spending habits .Where the moneys going and coming in. Understand Personal Finance and money. Get a spreadsheet or budgeting app. Got to put all the numbers together. Try to follow the budget the best that you can to buy a house, retire, or payoff debt. Learn not to budgeting paycheck to paycheck.

I have given you a lot of information on budgets and how they work. Of all the tips that I given which ones are you going to use. Start a variable or fix budget. Cut back on expenses or make more money. Learn more about money and Personal Finance. Comment Below.

June 17, 2021

How much House can I afford

As a CPA and Realtor I try to Give You a House Buying Guide

I try to explain in the easiest terms how it was like house buying for dummies. I go over timeline for house buying or on house buying on what I can afford

How to Afford House on One Salary?

Look a Salary and future of your job. Look at Mortgage Calculator to get ideas. Get Financial Information together. Get credit reports. Two years tax Tax reports. Talk to three mortgage broker To get best estimate. Deciding house buying or condo.

What House can I Afford for 80000 a Year?

If you do the steps that I explained then if you take the information for June, 2021. You have 1500 month debt, 2.75 interest rate and place 20000 down payment then around 163,000. You put less down and the house value would come down. You should play around with figures with a mortgage calculator.

Steps on Getting a House?

Look on where you want to live. How many bedrooms do you want . How many bathrooms. What about tax credits the governments is giving or moving to a certain area.A big question is the house buying how much can afford and house buying closing cost

Of course the way to get started is to get two or three years tax returns and with the three major credit reports .They are going to ask for three months of bank statements and what you have in savings and retirement accounts. I would get three mortgage companies to look at their fees and get the one with greatest experience.

You are going to be looking around on the multiple listing website or some of the most independent websites. You are looking at different housing possibilities. You want the most for your bucks . Where all the good schools and malls are at.

How much House can I Afford Dave Ramsey Click Here

You again are going to have to find a good real estate agent if you are not one . Check their references out.

You are going to go through the preloan process to approved for a house. In the future you going to find a couple houses that you are interested in. You are going to make some offers and go back in forth to get the final price.

If the house offer is accepted the next step is get the house inspected. Get some one who knows what they are doing.

You got a closing attorney at your meeting with your seller. You got understand the numbers and how much to bring money for the closing

How much House can I afford $40000 a Year?

If you do the steps that I explained them if you take the information for June, 2021. You have 750 month debt, 2.75 interest rate, and place 20000 down payment then around $91000. You put less down and House value would come down. You should play around with figures with a mortgage calculator.

How much House can I Afford Zillow Click Here

It depends on the down payment. It could be anywhere from twenty percent to zero. The more the merry. A lot of lenders would try to get you put twenty percent. Some will go down to six percent . If you are getting VA the down payment is zero.

When they pull up what you are spending every month, they want this. They want to keep spending on debt is limited mostly at thirty eight percent but some might go to forty four percent. The house payment should be twenty eight percent of your monthly expenses.

If you are house buying after bankruptcy it would take effect of course after it falls of your credit report. It could take up to 5 to 7 years . If you got a good job and starting to save money you could start the process.

I tried to give you a house buying checklist. What are you going to use of the tips. You going to use the internet for mortgage calculators, use several mortgage companies for quotes, or choosing the right realtor. Please comment below.

June 3, 2021

Seven Great Questions on Business Startups

As a CPA I going to give a lot Information from my Experiences with Startups

Business Startups are a Journey and only a few make it The people who try it have got to have a lot of guts and have great plan. You are going to have a lot ups and downs. There was a lot of Business Startups 2000 and Business Startups 2021 because of Covid 19 . You could even buy Business Startups for sale or Business Startups for college students.

How to Start a Business Under 10 K?

There is a lot of businesses hat you can start under 10000. You got to evaluate the business and have a business plan . Set up a budget and follow where your expenses are going. You could purchase a franchise . Even a Brick and Motor or online business. You cold get a truck and delivery products. You could rent and office and do accounting services .These ideas are for Business Startups under 5000, 1000,

What is the Cheapest Business to Start?

That is Easy. The cheapest business is he Internet Business . Where all you need is a computer, get web hosting , set up a blog or website. You can sell your on products or affiliate products. It cost you a couple of hundred dollars to get started

How about Business Ideas on a particular business Click Here

What are the Four Types of Business?

1 Sole Proprietor There is one owner with limited Liability The shield from lawsuits is low

2 Corporation You are an entity with a few shareholders or a lot You are shield from lawsuits that is lot larger if structured correctly

3 Partnership You have an entity where there can be a couple of partners or several and they share in losses and profits.

4 Limited Liability Corporation Similar to Corporations but easier to set up This is what most people are setting up

Some Interesting Statistics on Business Startups?

These are the top trends of 2020

40 percent of the business owners spend time on administration duties

25 percent did not like corporate america

53 percent want to be their own boss

1 out of 4 were businesses were owned by immigrants

39 percent want to pursue their passion

70 percent of US entrepreneurs start a business at home

Comparecamp

Startup Business Ideas ?

These best are businesses to start with little Money.These are great business ideas in 2020 and 2021

Home contractor, Accountant, Tutor, House Painter, Photographer, Hairdressers, Event Planner, Errand Service, Blogger, Landscaper, Dog Walker, Courier, Flea Market, Freelance Blogger

What Business can I Start with 300k or is 20000 Enough to start Business?

You can start a business with 300000 easily but 20000 is going to take some effort. You first get a good business startup plan. Not one of these that say that you going to make million dollars the first year. What are good startup business. The ones that have a good past history and record of good financial proof. They have good business startup business plans showing where all the expenses are going and how much money you are going borrow. Getting a business startup loan with bad credit is very hard

Ten Simple Rules For Business Startups Post Click Here

There are Number of Things to be Concerned about Business Startups?

If you try to start a business while you are still employed at a regular job. Try to get your clients first .Money coming in is lot easier when being on budget.

You need a business plan to have a road map to know where you are going.

When I started out in my business I made sure that I knew as much as possible about sales, accounting, management and where I was going to get money from.

Talk to professionals for advice.

Get legal advice from attorney. Ask an accountant about entity structure like sole proprietor or sub chapters corporations and accounting software. You need insurance advice from a broker on insurance needs like auto ,liability, and property coverage.

Tools for Startups Click Here

Get serious about the business but love it.

Have a good idea about cash flow and how it is going to be from month to month. This is the main reason business do not make it. A good business plan will show you the road each stage that you are going to travel.

Most people startup business because it gives them the freedom to set their own schedule but do not overuse this idea by not doing any work . Successful business owners have a desire to succeed but hiring employees do not feel the same mind set

Tricks for Startup Business Post Click Here

Start with a few ideas, choose one idea, Plan your idea and guard against failure.

I have given you a lot of ideas and tips about Business Startups. What it takes to form one, how much they that they cost, and different types. With all the data what are you going to do first. Please comment below.

May 22, 2021

Interesting Questions about Retirement?

What are People Doing in Retirement?

Data says that most people are doing hobbies ,travel, and meeting people . Most of the time people are watching TV which is a shame. If you are in good health and can do something that is the key to good health and a good life. Do some part time work or charities to keep your mind busy. Workout everyday to stay in shape. Try to eat good food and not get sick. I know tons of people who do this and live a good life. You of course can do a lot of retirement planning with retirement calculation.

Where can you live for 2000 a Month?

Some countries say in South America like Panama ,Cost Rico, and Mexico. You could live in the United States for less than 2000 dollars .You would need your house paid off .Then you would have your electricity, water, telephone plus food. You would need insurance plus a budget to live on. This is retirement where to begin and good way of saying retirement definition, That means not eating out a lot of the time. Staying home and maybe one trip a year. It will depend on your budget and if you follow it.

I know a person from my state retired from his job and move to Costa Rica and lives on a boat .He loves it.

Facts from Medalerthelp.com

These give retirement meanings to help you. One fourth of people do not have retirement savings. Half of people over 65 live on income less than 25000 . Older income people spend over 45000 a year .Less than one percent people retire before 50 years old. Less one third people live alone.

Retirement Planning

A lot of people are not saving enough for retirement. Employers are cutting back on funding for retirement. Individuals have to take more responsibility for their on retirement accounts. Most people do not have an idea how to invest .You could go to the local bank,mutual fund families, and annuity company. In IRA’S interest is paid on your principle plus change in the value of your investment. Mutual funds offer many investment options. One option is balance funds where you have professional managers and reasonable administrative costs.

Interesting Article on Retirement Click Here

Asset Allocation

Asset allocation should depend on your age and distance from your retirement of course. You need to know how much income and how much expenses you will pay when you quit working. You got to figure out that you probably going to live longer. You’ll also have to decide whether you are going work when you retire and retirement age. Your current income is a good guide. You should plan on living on 70%-80% on what you presently spending on expenses ,food, clothing, and utilities. Inflation will also affect this. Look up your sources of retirement income such as pension, IRA’S ,401 K, and social security. These could be retirement vanguard, retirement military, or retirement with social security. How will this be when I ready to quit work . Go over what are retirement essentials and why retirement is important.

When investing, analyze your needs , requirements, time horizon and risk tolerance. You design your portfolio by your needs. You need to balance your plan every year to see how the economy is doing. How much stocks and what to put into bonds? You need to be concern about nursing home cost. Private nursing homes run from $250 a day on up to even more. The average cost is suppose to rise about 5% a year. Health insurance does not cover nursing homes. You might need to get long-term care insurance.

Clearing Up Stories on Retirement Click Here

If you start saving ,start at a low amount.

When saving in IRA or 401 K start small and build it up. Start with say 10 percent of your salary. The Brokerage Firms can charge fees that are high and not needed. Keep cost down to get a better return on your investment. Make it easy to get your money out without any problems and reduce penalty expenses. Dollar Cost Averaging is the best way . Put the same amount each month. I do this even when the market is going up and down. Diversify your investments to reduce risk. Research your investments.

My parents lived on Social Ser. when they got older that was a mistake. They could not do anything. I have a financial plan myself because people are living longer. You need it for retirement and everyday life .A financial plan shows the basics of saving money and how you need to do it. Have a goal to save .Select a good system to go by. Profit from a financial guru who has a lot of experience. I hope these points have help and read some other ideas on my blog.

You need to save a minimum of 10 % of your Income

The many mistakes people are making 1) ignoring inflation 2)erroneously calculating your life expectancy 3) relying too much on social security

If you are thinking about working, old people will consider the flexibility of the job .Autonomy s one of the main considerations.

I have given you some answers to some interesting questions and lot tips .So what you going to do. Move to another country. Stick a budget or save more. Please comment below.

December 20, 2020

How to Prove Cash Deposits for Mortgages

I going to go over several tips on using cash deposits for home mortgages. I also with this post give you ideas for money mortgages. It is a lot information to help you in buying a piece of property. I been doing this for thirty years. Lets get into it.

If you are going to buy a house, A lender will look at the source of the cash deposit. The bank would look at your bank deposits for the last sixty days

How to Prove Cash Deposits for Home Mortgages

The reason that they are making sure that you come up with money is that they could get stuck. A lot people promise that they have the money but when closing comes and you do not have it then the bank is stuck with a big problem.

Deposits that cannot be verified are no use to banks. You could verify cash deposits from pay stubs, bank accounts, receipt of sale of asset. Maybe a gift letter from a named person. The gift letter will give the loan processor time to call the person in question and may sure that is not a loan

Lenders make money in different ways . They have different fees that make money on like origination fees, discount points, and closing cost

Money Mortgages

Money Mortgages are know as a Purchase Mortgage. It is where the seller of the house gives a buyer the option of using them for the money to buy the house. One good reason is buyer cannot get money from a lender. The money mortgage works like a regular mortgage.

The house is the security The seller can make money as the regular cash flow comes in every month. It is great if the buyer can afford it. You could even have a second mortgage. This is tied up with a first mortgage of a regular lender

Cash Money During the Loan Process

You got to have the ability of paying the loan and afford the house. The process takes several months and can be pain in the neck. Again something might come up to bite the underwriter. If you have a cancelled check that is even better.

I remember getting my first loan. I had to get all my pay stubs , all car loans ,other liabilities, sources of income and give it to an underwriter and I got a lot of phone calls from them . You got to answer a bunch of questions. Believe me you get sick of it.

A good article on Cash Deposits Click Here

Photo by Karolina Grabowska on Pexels.com

Cash Deposit For Mortgage

A large Cash Deposit is consider over 25 percent , You got make sure the deposit is reliable Make sure that you have the documentation. Just be prepare for a drawn out process. It takes time and you not loosing your cool.

Money For Mortgages

There are several types of mortgages if you do not know. You could have a conventional mortgage like from a bank of financial institution. There is a jumbo mortgage that has a big loan amount due after paying every month of couple of years with low payment.

Then there is the government back loans like Fannie Mae and Gin Mae

You got VA loans for people in the arm services. You can get deals for housing when they were in the arm service of our country

You get Rural loans for living out in the country which has great terms.

You could have the standard fix rate loans that everybody has with the interest rate fixed for length of the loan, There is the adjustable rate where the interest rate changes almost every year,

A good article on Cash Deposits Click Here

Private Money for mortgages

A private money for mortgages is given to buy a house by friends, family, or business in other words from a private source. I never try it but had family using this method. You got know the person to make sure you got the right fit.

You got to go through the same process as like getting money from the bank. You should still have the same good felling like in getting money from a regular bank.

Here is the difference between bank and private mortgages. Privates is less expensive but hard to get approved. Banks are easier to get approved but more expensive