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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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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I consider the Roth IRA one of the best available financial and investment tools. Saving in a Roth IRA early was one of my best decisions!
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I write my annual goals each January, including Net-Worth target. When I started calculating and setting an annual net-worth target, I took better control of my wealth creation. Calculating your 2019 December, net-worth is like taking a picture of a house you are rehabbing. From that picture you determine the improvements you plan to work towards for the next 12 months THREE KEY REASONS Net - worth is the most ...
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THE ONE PERCENT AIN’T YOUR PROBLEM- IF YOU want to see your problem look in a mirror
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STOP DESTROYING YOUR LIFE! - GET OUT OF THAT DAMN HOLE!
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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 ...
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Last week we talked about the need for having a minimum of six months expenses in your emergency savings. The partial government shutdown, which began Dec. 22, 2018, is unfortunately still going strong (THE KIDS IN DC CANNOT PLAY NICE). As you begin to grow your emergency savings you will need a plan for to put those hard earned dollars to work! Be sure to open separate account(s) to ...
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The partial government shutdown, which began Dec. 22, 2018, has stretched well into 2019 and may continue for weeks or months given the two parties inability to negotiate and behave like middle grade children. About 420,000 "essential" employees are working without pay, while another 380,000 have been ordered to stay home. In some cases, the furloughs have forced government employees to tap into their savings, apply for unemployment, add to their ...
Read MoreI started publishing Wealth Building Powers blog when I was suddenly sidelined from my professional career for health reasons. I worked in a field that strives to protect the lives and health of employees and the neighbors in the surrounding communities. I enjoyed my field and miss it as I made a difference by sending employees home safely at the end of their shifts and the end of their work ...
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