I was recently speaking with a co-worker and telling him that I have been making a killing in stocks since I jumped into the market in the beginning of January. All he could say is that the market hasn’t hit the bottom yet. My answer was, my portfolio says differently.
I am averaging a cool 10% gain since then till now. When good value stocks have no more to lose they become under valued and that is when you must grab them up. I bought a couple ETF stocks and a couple individual stocks. The funniest thing is that I am not even buying stocks that are risky. Take some time and sit down and truly research the market and hopefully you can make a cool 25% this year with ease.
The next thing is that when the value goes up in the next 1-2 years you will be thanking me greatly.
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The Simple Dollar posted a great article that is helping a member who is young figure out if he starts early, then when can he retire. If he start at the age of 20 years old, then he can retire early basically at about 42 years old. That will only mean that he will be getting the same salary that he has right now but he will be work free but still far from retiring rich.
If you were to take 20% of your annual income starting at age 20 and put it in a S&P 500 index fund, that index fund continues to grow at the long-term historical rate (12%), and you received a 4% raise each year, you could walk away from your job and live off the interest at age 41 matching your current salary, or quit at 43 and be able to give yourself a 4% “raise” each year from the interest, which is probably the better plan because it combats inflation. Raise the amount to 25% and you’re done at age 38 and able to live in perpetuity at age 40.
All he has to do is save 20% of each pay check and then invest into an index fund like the S&P 500 index fund, I prefer to use Exchange Traded Funds (ETFs) but all the same.
The hardest part is saving that 20% or heaven help you if you can 25% per paycheck.
But like snow-flaking debt, why can’t you snowflake to a rich retirement? And of course, once you start to save and that compounded interest really kicks in, then you can be saving an extra couple thousand per year just on interest alone.
If you can save $20,000 and get 5% in interest, then you just gained an extra $1,000 for having your money sit there. That $1,000 will then help you reach another $20,000 that much quicker then before you know it, you are now getting an extra $2,000 per year.
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In this interview with Vanguard Eric Tyson, one of my favorite investment companies, Tyson states that most time people are there own worst enemies because they overspend and run themselves into debt.
The number one problem is overspending. Some Americans, frankly, are not savvy consumers. They lack the discipline to live within-or below-their means. They live in the moment, pursuing instant gratification instead of doing what’s in their long-term interest. They abuse credit cards, buy stocks without doing research, and generally have little or no idea how much they should be saving toward future goals.This isn’t especially surprising. We’re all bombarded by advertising 24-7, and it’s difficult to insulate yourself from the pressure to drive the “right” car, live in the “right” neighborhood, own the “right” stock, and so forth. Americans need to learn that giving in to that kind of pressure can have serious consequences to their financial well-being.
It is as simple as that. Easier said then done as well because it takes amazing will power to hold back on spending and to treat yourself or those that you love. So in the retrospect, try to maximize as much as you can the amount of money that you do not spend and constantly try to beat that amount. Then simply invest until your early retirement comes around.
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MSNBC ran an article on the top 10 tips to walking out of garage sales as the big winnner and thus huge money saving tips on the following:
- Map out your route.
- Know the drill.
- Strategize about when and how to shop.
- Remember, you’re after bargains.
- Haggling can be good for you.
- Take all sorts of items on a test drive.
- Expect great deals on clothes.
- Know when to say no.
- Care for potential purchases.
- See the big picture.
Those tips are great and maybe you can reveal some top tips of your very own.
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- Filed under: Taxes
- Date: Feb 12,2008
Yahoo published a very informative article on the Tax Rebate of 2008 frequently asked question and answers.
Tax rebate FAQs
- Will I get a check?
- How much will I get?
- Will I get more for my child?
- Who won’t get a rebate?
- What do I need to do?
- When can I expect my money?
- Will a refund affect my rebate?
- Rebate boosting tax moves
Should answer almost about all the question that you have on the 2008 tax rebate.
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Now this is a hard question that will rely 100% on your point of view and preference. Do you want to own the real estate property and/or house in a shorter period and pay less interest or in a longer and instead invest extra money into the stock market to gain compounded 7%-12% gains or more. Lets test some [...] Continue Reading…
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Netflix is a major online rental mega player in the industry and thus had to support HD DVD and Blu-ray DVD to appease all potential clients. That all changed now that Netflix has decided to support the Blu-ray format only.
This is yet another kick in the head over at Toshiba because HD DVD was developed by Toshiba. The major [...] Continue Reading…
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That’s right, if you still rely heavily on snail mail you will be paying another price boost this coming May. They are now allowed raise the price easily now because there no longer is a lengthy approval process to raise postage stamp prices if the increase is below the inflation rate. This could mean a price hike of 1 [...] Continue Reading…
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A reverse mortgage is a loan only available to seniors aged 62 and over. What this type of mortgage does is release the home equity from the property into a lump some or into multiple payments . The home owner then lives their life in bliss without worries of repayment because the obligation to pay only factors in when [...] Continue Reading…
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The tax benefits of Exchange Traded Funds (ETF)s are clear once you know. They are an improvement on traditional index funds because they delay capital gains taxes because when the ETF stocks are traded they are not bought and sold over and over. They are instead held in waiting until someone else buys them. So you are not really [...] Continue Reading…
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