How to Vet Your Financial Advisor

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The securities industry is set up to make it seem as if all financial advisors who are selling investment products are super successful, finance majors, vice presidents, etc. All these things are done intentionally so that you’ll trust them and think that they are investment gurus who will be great with your money. The reality is that’s not always the case. That’s just the illusion of the industry. Therefore, it’s important to ask the right questions to make sure that you’re getting the right professional. The reality is the brokerage industry, just like any other industry, has good financial advisors and bad financial advisors. Here are some tips on how to make sure you’re getting a good one.

(1) FINRA BrokerCheck

The first tool that you should be using to vet your financial advisor is something called FINRA BrokerCheck. BrokerCheck it is a publicly available tool. You can go to FINRA.org and at the top right-hand corner of that website there’s something called the BrokerCheck. You can literally type in a person’s name, hit enter and you’re going to get what’s called the BrokerCheck report which will detail all the information that you need when you’re vetting your financial advisor.

BrokerCheck will be able to tell you how the advisor did on their licensing exams, where they have been employed, where they went to school, if they’ve ever been charged with anything criminally. Have they ever declared bankruptcy? Have they ever been sued by a client? Have they ever been fired by their brokerage firm? These are all the things that would be absolutely critical before establishing a relationship with somebody who’s going to manage your entire life savings.

During client intake the first thing we do is look up their BrokerCheck report. We start rattling off all this information to the potential client about their advisor and they are often amazed. We aren’t magicians and I don’t know every financial advisor. Literally all we are doing is pulling this publicly available information and looking at the report. And so many times we are telling a potential client that their advisor has been sued a bunch of times already and the investor had no idea.

Obviously that would have been critical information to know at the beginning when they were deciding whether to work with that person. If they had pulled that report, if they knew for example that the person they were considering had already been sued 26 times by former clients, they would never go with that person. So obviously, the first thing that you should do, pull that report.

(2) Questions to Ask

The first good question to ask a potential broker would be “How are you compensated?” Not every financial advisor is compensated the same way. Some of them are compensated on a commission basis, which is per transaction. Every time they make a recommendation for you and you agree, they get paid. Some of them are being paid a percentage of assets under management. If you have a million-dollar portfolio and they make 1%, they are going to make $10,000 a year.

You can determine what you are looking for based on what kind of investor you are. If you’re a buy-and-hold investor, maybe a commission model makes sense for you because maybe you’re only doing two or three trades a year. If you’re trading a lot and you’re having a very active relationship with your advisor maybe the assets under management model makes more sense. But ask the question first and foremost so that you know and it’s not ambiguous.

The second question to ask is “does the financial advisor have a fiduciary duty to you.” Ask them that exact question because the brokerage industry will take the position that they don’t. Their obligation to you from their perspective is to make an investment recommendation that’s suitable. That’s a much lower bar because sometimes an investment could be suitable for you but not necessarily in your best interests. So just ask your financial advisor, “Do you consider yourself to have a fiduciary duty to me?” Let’s figure this out at the beginning of the relationship to make sure you know where you stand.

Another question you should ask is, “Who are you registered with?” A lot of financial advisors out there are sort of independent and they’ve got a “doing business as” business, wherever their offices are, but they are registered to sell securities through a larger brokerage firm. Find out who that is. Do some research to make sure that you’re getting involved with a brokerage firm that has the types of supervision and compliance that you would expect.

There are two types of brokerage firms. There is the Morgan Stanley model where they have a hub of brokers in a major city. Maybe 30-40 brokers in one office. There are compliance people, there are supervisors, there are operations people – all in the same localized office. In my experience you see less problems in that type of situation because all the supervisory people are right there.

On the flipside, there is the independent model – it’s an advisor in an office someplace and their compliance is in Kansas City or Minneapolis or St. Louis or wherever. The supervisor comes to the office once a year and audits the books and reviews the activities of the advisor for the prior year. These visits are usually announced well in advance. Obviously the supervision in that context is very different. And that is the type of firm where we see more problems.

You want to make sure you’re getting involved with the right firm. That the firm is overseeing your financial advisor, protecting you, making sure that if they are doing something wrong, they will catch it before it’s detrimental to your accounts.

Another good question to ask, “Have you ever had a dispute with your client?” If they say yes, ask him to explain it to you. Nobody is perfect and you can’t keep everyone happy so if you’ve got a hundred clients and you have been in the business for 10 years you might have somebody who’s been upset with you at some point. But it may not rise to the level where it concerns you, but ask about it, talk about it.

Ask about their investment background and their objectives. Not every financial advisor does it the same way. You want to make sure that their goals are consistent with yours and their approach is consistent with yours.

And finally you should ask “do you have insurance?” The brokerage industry does not require brokerage firms or financial advisors to carry insurance. Many of them do but they are not required to do so. Why that can be significant, of course, is in that worst-case scenario and you have a dispute with your advisor, you want to at least be with a financial advisor that if they do screw up you’ve got some protection. So ask them “do you have E&O insurance for this?” If not, that is a red flag. Either just because of collectability concerns if you get into a situation where you need to sue your advisor or it might be a suggestion that they are not operating their business in the best way possible because certainly financial advisors should have E&O insurance.

(3) The next thing to consider are potential warning signs. These can appear either in the initial meeting or just as the relationship begins:

– They rush you to make a decision. We see this in a lot of our cases where they have you come in the meeting and say, “Sign here, here and here. I’ve got an appointment in 15 minutes. If you have any questions call me later.” That’s an obvious warning sign. That should be clear to most people. But I think a lot of people are afraid to escalate it because they think, “Oh well, he’s very busy.” and he makes it seem like he’s got tons of clients and he’s really successful. So maybe it’s okay that he doesn’t have time for me. No, it’s not okay. Find someone who has the time. Your advisor is getting paid to manage your account so make them work for it.

– They don’t tell you what they’re being paid. That’s definitely a warning sign. The genesis of most securities fraud claims is commissions – advisors pushing high commission products that benefit them at the detriment of their client. If the advisor is not disclosing what those commissions are, that’s a problem.

– They want to put everything into one investment. This is a big warning sign. What’s the motivation in doing that? Most people know diversification is critical when investing so if you have an advisor who is saying, “Hey, let’s use this investment, it’s the best, it’s better than anything else, we’re going to put everything in this.” That’s another warning sign.

– They want to meet with you alone. What would be the motivation? Say you are elderly and you want to bring your kid to a meeting for support and your advisor says no… That’s a warning sign because obviously if they’re on the up and up they shouldn’t have any problem with more people sitting in the meeting, making sure that you’re being taken care of.

– If your advisor does not spend time with you (at the beginning and regularly thereafter) asking about your actual investment needs (goals, time horizon, risk tolerance, etc.), that’s a problem. Investments are not vanilla. Every investment is not perfect for every person. Each investment depends on your particular situation. If your advisor is not asking you what your situation is – your net worth, your income, your investment objectives, your investment experience, your goals, that’s a huge red flag.

– If your account statements do not come directly from the brokerage firm, that’s a red flag. If the statements are coming directly from your financial advisor and you’re not seeing anything on there about the brokerage firm they clear through, that can be a problem. That could be a financial advisor whose hiding losses or just sending you statements that are not based on reality. Most brokerage firms do not permit their advisors to create monthly reports or if they do they require that they first be reviewed and approved by compliance. If there is nothing on the statement that definitively shows that it has been reviewed/approved/sanctioned by the advisors broker-dealer employer, it’s a problem.

– If they ever ask for a check to be made out to them individually that’s a problem. Brokerage firms are established to make sure that kind of stuff doesn’t happen and so if your advisor is doing it, very likely this has not been approved by their firm.

– If you suffer huge losses without any reasonable explanation, obviously that’s a problem. Lots of brokers will tell you “it’s the market” or “forces that are out of my control.” That may be true but you want to talk about it and make sure that you get a reasonable explanation.

These are a few tips on how to pick the right financial advisor. It is an important decision, and should not be made lightly and without being informed.

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5 Ways To Make Money From Home in 2018

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If you want to make money from home pay close attention. In this article I’m going to give you 5 ways you could be getting paid on the internet in 2018.

Have you noticed that in 2017 the term “side hustle” became very popular?

I recently read an article that said over 50% of the workforce in the United States has some sort of “side hustle” that they use to supplement their income.

With that many people looking to do something on the side, you have to admit that the cost of living is growing faster than the minimum wage.

So let’s go over a few of the ways that you could be earning money from home in 2018.

#1: Become a Social Media Manager

Social Media Managers have become really popular since the explosion of social media over the last decade.

A social media manager is exactly that; a manager.

So if you were to become a social media manager your job would entail sending/receiving friend requests, posting multiple times per day, engaging and reading incoming comments, etc.

You’d think that this is something that anyone could do, but there are many successful entrepreneurs and business owners out there that are gladly willing to pay someone to handle these mundane tasks on their behalf.

If you think you are proficient on social media maybe this is just the side gig for you?

#2: Learn How to Trade Forex and Cryptocurrency

It amazes me how few people have even heard of Forex. Forex is an acronym for Foreign Exchange.

With Forex you are buying and selling currencies just like people buy and sell commodities like corn, coffee, and orange juice.

This is an invaluable skill to learn because when you have it, you can write your own paycheck. Just keep in mind that this is considered the same as gambling in the eyes of Uncle Sam, so you will have to pay some hefty capital gains taxes on anything that you pull in.

Cryptocurrencies like Bitcoin are not only something that you buy and hold. You can actually trade cryptocurrencies as well.

#3: Join a Network Marketing Company

Although network marketing companies tend to get a bad rap, most people are oblivious to the fact that network marketing is a 100+ billion dollar per year industry.

More money per year is generated from network marketing than from all of the professional sports in the United States each year, combined!

A network marketing company gives you the chance to become the CEO of your own organization from day number one.

In Corporate America you typically start off at the bottom of the ladder and are forced to work your way up. In Network Marketing, you start of at the top of your organization, but you’re responsible for building and training a team of independent sales representatives who have common goals.

#4: Get Started With e-Commerce

You can also get involved with e-Commerce. You know, things like eBay, Amazon, and even Shopify.

This is where you have yourself a virtual business. You can sell virtually anything that you can muster up from your imagination.

Dropshipping is also a big part of successful e-Commerce selling. Otherwise you’ll need your own products to sell and most people don’t have that.

e-Commerce is a great way to make money working from home if you’re not really a people person and you’re not cut out for the sales life.

#5: Get Involved in Affiliate Marketing

Affiliate Marketing is all about selling other people’s products/services.

Virtually every company known to man has an affiliate program of some sort these days. For example, if you refer someone to Time Warner, they will pay you.

By simply sharing products and services that you use every day you can earn a percentage each and every time someone makes a purchase from your individual affiliate link.

Which One Of These Methods Are Best?

While all of the above methods are great, there really isn’t one that’s “best” per se. However, if you plan on making money from home on your computer you’re going to need to receive the proper training. Otherwise it could realistically take years for you to learn and become a master of online marketing.

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Why Do You Really Need An Investor For Your Business Startup?

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Do you have a dream to be a successful entrepreneur or your own boss? What if you have a fabulous plan but lack of funding to implement it? What do you do, give up on your dream? Maybe Yes, but you should never do this. Keep your dreams alive and have faith in them because faith moves the mountains. Faith in yourself and your dreams is important to make them a beautiful reality. Don’t worry; even though you are a lack of money you can start your business. Don’t get surprised. Just leave no stone unturned, go and find an investor – a person who wants to invest in any plan that guarantees great returns.

Do you still have any doubt, why you need an investor? Let’s make it simple. It’s a common math that if you have enough money to fund your dreams, so, you can bootstrap your way, but what if you haven’t? In any such condition, you need an investor that funds your dream and you can turn them into reality. It’s quite obvious that getting investment for your very first project is hard but not impossible. Have some faith in your plans, so, you can make the other person believe in it too. Your plan is the key that unlocks the door of success for you, so, you should be ready with that.

Finally, you know, why do you need an investor for your business startup – right? So, now the question is who invests in your plan and why? Any person who is willing to invest in any plan that gives assurance about the great returns. Despite the great returns, a person who is ready to invest in your plan can be the one, who have a deep knowledge of your business field or have interest to actively help to grow a company or a newcomer.

Now when you know the answer to all your questions, so you should take your first step toward the success of your dream confidentially to be the one you have imagined. Never give up on your dreams, instead, go and fight for them. After the all these struggles, the success you will get give you the sigh of relief. Always remember, if you are passionate about what you want to do and what you want to be, so, no one can stop you. Don’t doubt yourself ever because it kills more dreams than failure ever will.

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How to Manage Your Investment Holdings

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The uncertain condition of today’s economy is not encouraging investors. This lowered investment trend can be traced back to the past 5 years where investments have been slow with subscriptions to how to manage your investment holdings magazines taking a dip. Many investors are uneasy over investing their money into a volatile market as stocks have been plummeting in value in recent years, with small rebounds here and there, now and then. This does not give investors enough confidence although there are many investing associations that offer courses or tips on how to manage your investment holdings.

Good Monitoring of Investment

It is crucial to monitor your investments especially in this time of market uncertainty or volatility. Choosing the best investments is no guarantee of positive returns, much less huge returns, if you are not tracking the movements of your portfolio. As in any investment, there will be profits and losses; you can waste a lot of time and your hard earned money if you do not have good tracking habits or strategies such as proper record keeping. It is essential for any serious investor to review their portfolio’s performance when you are serious about how to manage your investment holdings for good returns.

There may be taxes that are incurred, retirement computations which may lead you to make further decisions on your portfolio or opportunities that come by your way to grow your wealth. There are now many online resources for your picking to assist you on how to manage your investment holdings by keeping careful records on every investment you make, be it stock, bond, mutual fund or security. Once the easy setup is done, you will only need to commit to a weekly or bi-weekly check up on the performance of your portfolio. This way, you will not be taken by surprise on any adverse news as you monitor the organizational news of your portfolio.

Online Investment Services

Online investment tracking services will update your portfolio automatically to reflect any price changes on a daily basis with a re-computation of your assets. They also assist in comparisons of your investments to your targets and the expected returns of your portfolio. These online investment services also alert the investor on potential purchases to add on to your portfolio. They may even have tips on how to manage your investment holdings that will benefit you.

Self-directed investing

This is for those who want to manage their own portfolio; those of you who might be retirees and are keen on how to manage your investment holdings can consider monitoring your own investments with a sufficient bit of basic understanding of the various investment types available for your own consideration. You will need to be familiar with tax consequences as well as investment earnings and related costs with any investment you plan to undertake.

You will need to be computer savvy if you are engaging technology in your own monitoring of your portfolio as well as be comfortable with the investment terms and conditions.

Self-directed investment requires online accounts monitoring, evaluation and understanding before an investment transaction can be performed. There may be a substantial online research required to confirm or refute financial assumptions.

Other factors

There is still a need to engage an investment company or professional broker to perform some of your trades or investments. An online broker may charge certain fees for his services. You should check out the reputation and performance of online brokers first before engaging their services.

When you get going on how to manage your investment holdings, you may need to consider it as a long term goal so that you are able to pace your time and effort on the portfolio that you are going to set up. A good investment plan is usually for the long term to enjoy its good returns. Discipline and patience are two virtues that are required when you want to manage your own investments as most stocks do not bring in huge returns in the short run. It’s a great commitment to those stocks which you think will fare well in the long run.

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Top 5 Value for Money Investments

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“An ideal investment is the one which reaps infinite returns for the generations to come!!”

Whenever the idea of investment comes, one of the first questions that pop in our mind is whether it would reap good returns or not. Then we proceed on to probe on the risks involved, investment tenure and other prerequisites before actually investing.

In this short piece, we explore interesting, easy to plan achieve investments that would make you feel content with the returns and have lesser risks in the market with the returns touching the sky and getting more and more with the time.

1. Investing for a Skill/Education: Education is one of the most expensive investment avenues these days. Acquiring a skill, implementing it, getting well versed in it consumes a lot of time, money and concentration. When worked hard and accomplished, the returns can be infinite. This means that you can find work and continue on it for as long as you want to. The gains are not only in terms of monetary returns, which are consistent and are usually on a rise, but also in terms of respect, experience and chance to invest more in your family and assets.

2. Real Estate/House: A lot of old and experienced people regard real estate as a pinnacle of investment or asset creation. Once someone starts transacting in terms of real estate, his outlook towards money is totally changed. An increase in the price of stocks, mutual funds is not as stable as that of a land or a house. Moreover, the emotional worth of an asset created in real estate is remarkable.

Yes, undoubtedly, you need to have some net worth and status before venturing into this investment class, but the returns would make sure that the hard work you have put in to create wealth via real estate is all worth it.

3. People: For any manager or a business owner, the people working under him are his prime assets. Investing wise and well in the people will pay him off enormously, irrespective of the amount invested and time consumed over that investment.

Further, versatility makes it easier to find what kind of investment can suit your people. Complementary insurance, perks, bonuses, trips, education, skill trainings, assets, cheaper loans etc., there are numerous ways in which you can decide how do you want to invest. Investment is people earns you more loyalty (which can never have a price tag), better results, higher efficiency and several such fruits which would enhance your business or get you a promotion.

4. Creating a second income source: When you have multiple uses of the money earned, why can’t there be multiple income sources. Often, a second income source seeks some amount of investment, which does annoy people as they fail to realise its need. It is quite simple to analyse it though. The current job or business you are doing has come to you at a cost, which has gradually paid off via income and other tangible/intangible returns. You can create a source such as part time tuitions, blogging, baby sitting, product research etc., which give you a stable income and keep on giving more and more returns once you gain good experience. Second income source gets a further boost when you invest in acquiring a skill that in turn gets you another income source.

5. Planting Trees: Promoting Greenery in your neighbourhood is again an invaluable investment. A seed that nurtures into a plant, and further to a tree has a lot to give for the sunlight, water and care it receives. Interestingly, apart from sowing a seed and occasionally putting a fence around it, you don’t have to spend anything at all. The sunlight is free and water requirement, even though being initially crucial, is later managed by the plant itself. Multiple returns that a single fully fledged tree gives include fresh air, fruits, wood, temperature control, shade,

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Simple Steps to Creating Wealth Part 2

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In my last column we discussed on various simple factors necessary for wealth creation. This will be the concluding part of the article. Let finish it

Create a Mindset of Abundance

The journey into wealth begins from the inside. Until you master the internal process of wealth creation, your dream will at most remain a dream. First you’ve got to believe you are created to be wealthy. The starting point is to believe that you are created to be wealthy by God .This is fundamental to your quest for wealth creation. Don’t allow the negative or unfavorable condition you may be right now condition your mind to believe that you are created to be poor, No!. The truth is that you ultimately become what you have believed in your mind. As a matter of fact, your present condition is an express display of your mindset but that you can change

Set specific money goals

That is the point! You have to sit down first and plan your way to wealth creation. If your goal is just to pay your rent and feed your family, there is no need to sit down first. Just any body can achieve that goal. But if your goal is to accumulate wealth, you need to sit down and plan.

Unfortunately, that is the aspect many people don’t feel comfortable doing. As the late reggae legend, Bob Marley put it: “Everybody wants to go to heaven, nobody want to die. If you are serious about creating wealth, you have to be cleared about the level of wealth you want to create. You have to practically create the financial future you want now, and work backwards from it with as much clarity as possible.The clearer your vision for your desire, the faster your arriving in your land of fulfillment. See you at the top.

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Wall Street’s Secret Language Revealed

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Say these five words out loud real fast: Bifurcation, Backwardation, ZIRP, NIRP, Contango.

Did you do it?

If so, did you sound like a cheerleader chanting some foreign language?

These are actual words used by many traders, gurus, and Wall Street promoters.

They may sound funny or confusing but they serve several purposes. (1) They reveal or describe certain market conditions. (2) They act as “signals” for trading purposes. (3) They’re meant to confuse and/or impress you.

And they’re only a few of the many words, acronyms, and sayings that make up Wall Street’s “Secret Language.”

Funny thing is, most people (myself included) aren’t impressed with words that don’t make sense.

However, if you have a basic understanding of them, you’ll be better equipped as an investor and more likely to stay ahead of the crowd. Think of it as learning how to “connect the dots” of a financial puzzle.

Compare this with trying to run a business in a foreign language (German, French, Japanese, Greek, etc.). If you don’t understand the language, you’ll most likely lose money… a LOT of money.

So, like learning any language, you need a good teacher or translator that makes it simple and easy to understand.

That’s where we come in.

In this article we’re going to feature a few words so you can see how easy it is to learn the language and, at the same time, realize how Wall Street makes things so confusing.

Let’s start with ZIRP. It’s an acronym meaning “Zero Interest Rate Policy.”

It was initiated after the 2008 meltdown to “supposedly” stimulate the economy. The truth is ZIRP has caused critical damage to most of the nations Pension Plans. (They need interest rates to be high in order for them to fund their plans for their pensioners.) ZIRP has also crippled most senior citizens who depend on the interest from their investments to live.

Even though rates are slowly going up, it’s going to take a long time to unwind the damage done by ZIRP.

But, let’s move on to NIRP. It’s another acronym meaning “Negative Interest Rate Policy.” Yes, you read that right. NEGATIVE Interest Rate Policy.

It’s more collateral damage from the 2008 meltdown and has been in effect mostly in European countries.

Here’s the crazy part. When a country’s government bonds have negative interest rates (currently -0.05% up to -0.36% or higher) investors have to PAY THEM to hold their money.

It’s a losing proposition for the investor and it’s hard to imagine anyone buying bonds with negative rates but millions have been sold.

We’ve only scratched the surface here but hopefully you see how these acronyms are very confusing and misleading.

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How to Become Rich Fast: Wealth Accumulation Like Crazy

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Here are 13 tips on how to become rich fast through wealth accumulation like crazy.

How to become rich fast can be explained in 2 sentences:

• Your expenditure must be less than your income

• Invest the balance wisely and you become rich sooner

The three golden rules of becoming rich the hard but proven way:

• Spend less

• Earn more

• Invest wisely

Follow these simple rules until you become rich and ultimately wealthy like Mr. Buffet or Bill Gates. If these two richest people could do it you too can.

That’s what essential wisdom dictates. It’s true, it’s real and it’s doable by truly yours – you.

What to do with the money once you have it in plenty? The three most satisfying uses of money are;

• Investing it – to make more money

• Giving and sharing it – with family, the needy and charitable organizations

• Fun – to enjoy life to the fullest

This way you will experience good health both mentally and spiritually. It’s the right way to spend your money and more shall come your way.

Here are 13 tips on how to become rich fast through wealth accumulation like crazy:

1. Develop daily wealth accumulation habits

Success is born out of good and productive habits. Positive habits bleed success like nothing else on this planet. Thomas C. Corley, a writer cum researcher, said; “change your habits change your life.”

Bad personal habits cause; poverty, sadness, stress, bad health, bad relationships and poor life.

Good habits bring; wealthy, happiness, good health, love, productive relationships, good life and a feel-good factor.

What to do to develop good – rich habits:

a) Self-improvement – change and you will change your life

b) Mentality – Believe you are already rich before you make it

c) Think positively about money and life

d) Exercise to stay fit and healthy

e) Be a friend to successful people

f) Write and pursue your goals with passion

g) Wake up before 5 am every day to read, exercise, meditate, shower and eat protein-rich breakfast

h) Create multiple sources of income to guarantee financial stability

i) Get yourself a wealth creation mentor to guide you

j) Become a mentor yourself to help others

2. You need a wealth plan as taught by Franklin Benjamin centuries ago

What should be in your wealth creation plan? The following need be in the plan;

• Realistic expectations

• Controllable outcomes

• No worry – never worry again about anything

• Spend on essentials only – cut spending on non-essentials

• Save till you feel the pain – save like crazy

• Invest savings smartly

3. Save 50% or more of Monthly Income

Save as much as you can possibly afford to. The best is saving 50% of your income to build wealth quickly. This is possible if you are young and yet to marry. There are people who saved 70% of their monthly earnings and after wisely investing 10 year accumulated savings got hugely rich within 20 years.

4. Invest shopping change – loose change

The insignificant amounts from your shopping can accumulate to large amounts in the long run. Have respect for coins and small denomination notes. These can add up if regularly saved and invested in an interest-earning account.

5. Know what you want out of life – write goals down

To truly know what you want out of life, sit and develop goals. Write your goals and develop a plan how you will achieve them. It’s only after you have set a target you can have something to aim or shoot at.

6. Always Negotiate to Pay Less

Negotiating is good and its fun. Try to cut a deal that favors you. When a chance to pay less comes up, please take it. Thus, learning to negotiate can save you a lot in the long run.

7. Strive to Earn More than you did Last Year

To become rich you need to improve your earning capabilities continuously. Your income shouldn’t stagnate, it should grow every year.

8. Invest in continuous education to better yourself

To change your habits from bad to rich, you need to change. Change can be brought about by continuous education. Thus, it’s a good idea to continuously pursue education. That’s what self-improvement is all about.

9. Start a business

After saving money for a few years, you need to invest some of it in a small business. Small businesses usually become big with time if managed properly. A business will eventually accelerate your wealth creation efforts.

10. Stop working for other people – work for yourself

Once your business is self-supporting you need to stop working for other people. Stop being a slave. Become self-employed because it’s the right thing to do.

11. Stop buying things you don’t need

If you can do without it don’t buy it. What is the need to buy 100 inch TV screen when a 40-inch one will serve you well?

12. Find and Solve a Problem

The best and fastest way to become rich fast is to find a people problem and come up with a lasting solution. Bill Gates found a problem and CREATED Windows to solve the problem.

13. Money is a tool – let it work for you

To become rich fast you need to make money work for. Money makes work easy. Money can by experts. It can take you to place you have never been before if you let it.

Thus, learn how to make money work for you to make more of it.

Go simple with your investment strategy:

When your investments amount to less than 10 million don’t go for complicated investments. Simple is the name of the game. Go for clear easy to understand and implement investment models.

Two of the easiest investments vehicles are;

• Real estate

• Mutual funds

After your investments go over 10 million you may reconsider your idea to remain a simple investor.

How to become rich 13 tips are meant to inspire you to take action. You were born to succeed and you can succeed if you believe you can do it.

Good luck with your efforts to become and stay rich

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Trade Bitcoins And Get the Most Out of It

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This digital rush of money that is sweeping the global investors is not only getting easier, but also riskier everyday. While it was initially a simple peer-to-peer system for small transactions, it is now used for major investments and foreign luxury purchases, which has introduced newer strategies and uses. How does it really work?

Bitcoin is a currency just like any other. It can not only be used to buy and sell, but can be used for investing and sharing, and can even be stolen. While the initial introduction of the technology came with a desktop program, it can now be directly operated through a smartphone application, which allows you to immediately buy, sell, trade or even cash your bitcoins for dollars.

Investment with bitcoins has become very popular, with major sums of money being put in every day. As a new investor, the rules remain the same as investing with real cash. Do not invest more than you can afford to lose, and do not invest without a goal. For every trade, keep certain milestones in mind. The ‘buy low and sell high’ strategy is not as easy implemented as said. A great way to succeed faster when you decide to trade bitcoins, however, is to learn the technicalities. Like cash investments, there are now several bitcoin charting tools to record the marketing trends and make predictions to help you make investment decisions. Even as a beginner, learning how to use charting tools and how to read charts can go a long way. A normal chart will usually include the opening price, the closing price, the highest price, the lowest price and the trading range, which are the essentials you need before making any sale or purchase. Other components will give you different information about the market. For example, the ‘order book’ contains lists of prices and quantities that bitcoin traders are willing to buy and sell.

Moreover, new investors will often quickly open unprofitable positions. With this, however, remember that you have to pay an interest rate for every 24 hours that the position is kept open, with the exception of the first 24 hours that are free. Therefore, unless you have sufficient balance to cover the high interest rate, do not keep any unprofitable position open for more than 24 hours.

While bitcoin trading still has its drawbacks, like transactions taking too long to complete and no reversing option, it can benefit you greatly with investing, provided that you take small steps in the right direction.

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IF – The Wonders of Investing

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If it seems as if all investors are selling, who is buying?

If trading has become entertainment for you, it may be time to refocus on profits.

If your stock has reached an annual low, can it go any lower?

If your stock has reached an annual high, can it go any higher?

If all the television analysts jumped off a bridge, would anyone care?

If your portfolio is based solely on fundamental analysis, perhaps it is time to learn technical analysis.

If I said you had a beautiful portfolio, would you hold it against an index?

If you are tired of losing value on the long side, perhaps its time to learn both sides of the market.

If you do not have a written financial plan, you should.

If you could put aside $205 at the beginning of each month for thirty-five years, with an 11% annualized return you may save over $1 million.

If you have stopped looking at your portfolio statements, does that mean your game plan is off?

If a fool and his money are easily separated, who introduced the two?

If buy and hold is your philosophy, why do you need a broker?

If a tree falls in the forest, does it ruin the stock market for the day?

If someone invented a computer program for investments that proved 100% correct all the time, we would never know about it.

If you think the market capitulated, you are not in a state of selling hysteria.

If 1,000,000 lemmings jump, can they all be wrong?

If you want to know what Greenspan thinks about economics, count the times he smiles.

If you expect nothing of your portfolio, you will not be disappointed.

If you are a rational investor, can you benefit from an irrational market?

If you managed your money like the government, you would take money from your neighbor and spend it on stock options that expire this week.

If you are confused with the opinions of the media, create your own.

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