Congratulations on accumulating a YUGEEE portion of your retirement money in a 401-K! As you approach retirement you need to decide what to do with YOUR HARD EARNED MONEY, currently sitting in one or more 401K Plans. This is a nice problem to have! SOME OPTIONS FOR AFTER RETIREMENT Keep your money in your 401-K Plan(s).Roll into an IRA or a ROTH IRA and convert to Exchange Traded Funds (ETFs), to lower fees.There ...
Read More
BUILDING WEALTH BY PAYING YOURSELF FIRST I am an engineer/geek and I never liked traditional budgets. Instead I save money and grow my wealth by ALWAYS PAYING MYSELF FIRST! I am my most important debit. BUDGETS – YAWN BUDGETS Raise your hand if you love budgeting at home or work. That’s what I thought! Budgets sound great in theory but how many people do you know who have stuck with their budget.In a world where majority of us ...
Read More
THE IRA PLAN IS A WEALTH BUILDING TOOL
Read More
RETIREMENT WEALTH BUILDING TOOLS GOOD DAY EVERYONE! Last week’s BLOG discussed the GOAT Millionaire Builder - the 401K Retirement Plan. Click below link if you need to read that blog. {DO YOU WANT TO JOIN THE 401K PLAN MILLIONAIRE CLUB? {KINDA OF LIKE THE MILE HIGH CLUB – BUT A LOT LONGER LASTING!} https://wealthbuildingpowers.com/2019/06/10/401k-millionaire-club/} USING STRATEGY TO GROW YOUR WEALTH THE GOOD NEWS - If you do not have access to a 401K plan, there are ...
Read More
IDENTIFY THE CAUSES OF PROBLEMS AND FIND SOLUTIONS This is an age test. Who remembers Mr. T.? There was a brief spell where I dressed and looked like him! But all that gold was slowing me down! Thank you for reading Wealth-Building-Powers Blog. I am grateful for all 5 MILLION of you! {Ok maybe a wee bit fewer than 5 Million} WHY OUT OF THE BLUE I STARTED WRITING AN INVESTMENT AND WEALTH BLOG There is a ...
Read More
This Group of People Is Most Likely to Retire Broke https://www.fool.com/retirement/2019/05/23/this-group-of-people-is-most-likely-to-retire-brok.aspx If you refuse to attempt to save for retirement, it is 100% guaranteed you will retire broke! Unfortunately those people earning <$50,000, include a large percentage of women and minorities. You CANNOT keep singing the Woe Is Me, ballad! Keep reading this post to learn the action you can take starting TODAY! EXERPT FROM ARTICLE “Approximately 60% of workers who earn less than ...
Read More
NEW CARS VERSUS A HUGE JUMP IN YOUR NET-WORTH I often hear or read similar below comments: I have $80,000 in college loans that are killing me. Backbreaking DEBT! I cannot afford to contribute to my 401K.I will never be able to retire.Life is unfair!I just purchased a brand new Porsche! 718 Cayman Porsche - Is It Worth It? Wait one minute - did you just say, you owe $80,000 in college loans; contribute $0 ...
Read More
It is estimated the lack of financial literacy, cost Americans ~ $300 billion in 2018, or three Bill Gates’ fortunes. While financial literacy is not rocket science, 63% of Americans are considered "financially illiterate." People who are financially illiterate have difficulty applying financial decision-making skills to every day real-life situations. SO WHAT EXACTLY IS FINANCIAL LITERACY? Financial literacy is understanding all aspects of money, such as: taxes, savings, paying bills, retirement, budgeting, paying for ...
Read More
In his January 1964 State of the Union address, President Lyndon Johnson proclaimed, “This administration today, here and now, declares unconditional war on poverty in America.” In the 50 years since that time, U. S. taxpayers have spent over $22 trillion on anti-poverty programs. Adjusted for inflation, this spending (which does not include Social Security or Medicare) is three times the cost of all U.S. military wars since the American Revolution. Progress ...
Read More
We all love “BUY ONE GET ONE FREE” sales. Right? What if you got the same offer for cash? Deposit $100; receive $100 – FREE MONEY. I’m guessing majority, no make that ALL of you would be making that exchange 24/7. But on average 24% of you are turning down FREE MONEY! Approximately 24% of employees fail to contribute enough to their 401-K plans to receive the matching dollars – FREE ...
Read More