$ WEALTH BUILDING POWERS

by Powers Investments Management, LLC May 11, 2020
Financial Literacy , INSURANCE AND ILLNESSES , Investments , Savings

THE NEED FOR EMERGECNY SAVINGS – MORE IMPORTANT TODAY THAN EVER!

  Shortly after starting my career, I read most likely I would work for ten companies.  I thought that ridiculous and arrogantly laughed. My last employer was my 10th – NOT so funny anymore.  I was laid off four times during the course of my career. When I look back at the career “crisis” I faced, I realize we really use the word crisis too loosely.  On a scale of 1-10 my ...

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by Powers Investments Management, LLC February 17, 2020
Financial Literacy , Savings

THE “RULE OF 72” – YES YOU NEED IT!

        Have you heard of the “Rule of 72”?  This simple rule helps your HARD-EARNED MONEY grow!  The “Rule of 72” approximates how many years it will take for your money to double, given a fixed rate of return.  The formula: {72 / interest rate = Number years to double}. How long do you believe it will take to double your money if placed in a typical U. S. savings account?   ...

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by Powers Investments Management, LLC February 10, 2020
Debt , Investments , Savings

SHOULD YOU PAY OFF DEBT OR SAVE AND INVEST?

      RULE # 1:   If your debt interest rate is higher than your targeted investment return, than prioritize paying off debt.  Place your money where it does the most good. https://wealthbuildingpowers.com/2018/04/05/four-steps-to-achieve-financial-freedom-by-becoming-debt-free/ If you want to invest in the S&P 500 ETF, which averages about eight to ten percent annual returns you should prioritize paying off HIGH INTEREST credit card debt which can be as high as ~30%. The good news, student loan interest ...

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by Powers Investments Management, LLC December 9, 2019
Financial Literacy , Investments , Savings , Wealth Building

DO BLACKS LAG WHITES IN FINDING GOOD JOBS AND BUILDING WEALTH IN 2019?

You have to decide how you’re going to show up in life,” she said. “I’ve used some of my differences as a way to stand out and to hopefully count and matter — and hopefully create an opportunity for others.” Her advice to those who may want to follow in her footsteps: “Be confident in your own ideas.” “Be brave,” she said. “Bravery is not the absence of fear, it is overcoming ...

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by Powers Investments Management, LLC January 28, 2019
Savings

A 52 – WEEK SAVINGS PLAN SO SIMPLE EVEN I DID IT!

Thursday night I was driving to the store (Ok it was a Bundt Cake Store- I lost momentary control!) and heard on the radio several Federal Prison Guards talking about the hardship of this partial government shutdown.  The inability to pay for gas, many single officers sleeping at the prison to save gas money. One guard in tears saying he and his wife discussed what could they afford to buy for their ...

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