Savings Archives - Page 18 of 18 - $ WEALTH BUILDING POWERS

by Powers Investments Management, LLC April 1, 2019

FINANCIAL LITERACY

FINANCIAL LITERACY IS JUST NOT THAT COMPLICATED – TRUST ME!

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 ...

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 ...

by Powers Investments Management, LLC November 29, 2018

RETIREMENT

DO YOU FEEL SECURE ABOUT RETIREMENT?

What is the one thing we do not want to happen in retirement? I say death, but as this is an investment and finance blog- RUNNING OUT OF MONEY! Financial professionals recommend to maintain your current lifestyle in retirement, you need about 70-90% of your FINAL income, EACH YEAR. If your retirement final income is $100,000 you need $70,000 to $90,000 annual income. Because of the extension of life expectancy and ...

by Powers Investments Management, LLC October 18, 2018

FINANCIAL LITERACY

GROW YOUR WEALTH BY REDUCING SPEND ON: TRANSPORTATION, HOUSING & FOOD

Regardless if you are a Doctor, Physical Therapist, Landscaper, etc., the average American spends almost 70% of after tax dollars on just three items: Housing, Transportation and Food. We save on average, four percent. This lack of savings is a recipe for future Titanic size disaster. You will struggle to help your kids attend college or trade school. You will possibly be unable to pay for your Housing, Transportation, ...

FINANCIAL LITERACY , WEALTH BUILDING POWERS

EIGHT STEPS TO BUDGETING WITH VARIABLE INCOME

One of my readers asked - how do you create a budget without a steady income? This is a reality for millions of people: Uber and Lyft Drivers, College Students, Commission Sales, Part Time Employees and many other self employed people. Approximately, 15 million Americans are self-employed, and have income that comes in at different times and different amounts. So how do you create a budget when you do not know ...

INTERVIEW

$1 MILLION – THINGS YOU NEED TO KNOW! (Interview #1)

This week I interview a young man, Jake, whose household Net-Worth is on a great trajectory. Jake and his wife Jen, in their early 30’s, have already built a Net-Worth, that is 30 times greater than the average American Household for a couple their age. THIRTY TIMES GREATER - bears repeating. So lets take a look at their strategy and accomplishments! By the way, Jake ...

INVESTMENTS

The Three Little Pigs Are BROKE!

As a child, I loved the story of the three little pigs. But just imagine if the Three Little Pigs had a debt problem. To be fair, sometimes we have no choice but to acquire debt: medical emergencies, loss of a job, school loans, etc. But we must avoid choosing debt to fulfill “wants”. If there is no emergency, and you simply have a “want”- pause for a few days ...

INVESTMENTS , MENTORS

WARREN BUFFETT MAKES $9 BILLION ON APPLE – HOW ABOUT YOU?

BERKSHIRE HATHAWAY MADE BELOW APPLE STOCK PURCHASES • March 2016: Purchased 9.8 million shares • June 2016: 5.4 million shares • December 2016: 42.2 million shares • March 2017: 72 million shares • June 2017: 1 million shares • September 2017: 3.9 million shares • December 2017: 31 million shares Today, I believe Warren Buffett and staff know more about Apple than its Board of Directors (BODs). Unfortunately, that is not saying much. As most BOD’s add little value to shareholders. So who is responsible ...

FINANCIAL LITERACY

The Magic of Compound Interest

This week, lets start with a quiz: How much money would you have today, if you had invested $10,000 in an S&P 500 Index Fund, in 1980? With no additional deposits. That’s right one $10,000 deposit and no more! A. $380,000 B. $276,000 C. $433,000 D. 760,000 I will show you the correct answer below and how much you could potentially earn if you did the same thing today. First, lets talk about compound Interest. Although, ...

by Powers Investments Management, LLC January 22, 2018

SAVINGS

BUYING CRAP IS BAD FOR YOUR WALLET!

SAVE MORE BY SPENDING LESS STOP Buying Crap This is your first step to accumulating wealth. I went to my basement last week and I saw boxes and bags of crap!! All that crap, cost money. And it’s just sitting there!. My garage, same problem.So let me define crap. Useless stuff you do NOT NEED/WANT! Let’s look at how much we can spend, annually on crap:· Two six packs of beer/week -$625· Daily ...

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