Showing posts with label Wealth. Show all posts
Showing posts with label Wealth. Show all posts

Friday, February 16, 2018

Accumulate Wealth Eliminate Debt! Simplicity Is That Simple

Until debt tear us apart


   If you want to accumulate wealth you must first eliminate debt - when you constantly owe others, it very unlike that you can build a solid financial foundation. This is what I've been doing for the last few years. Eliminating those I owe. I've had to sacrifice many luxuries but my debt is down to less than what most people pay for their car. Mostly small liabilities like a student loans, doctor bills, etc.,

   If you can get your liabilities in order, building wealth can surely be realized. Below, I have scratched the surface on the fundamentals to building wealth. These are the basic building blocks to obtaining your financial goals.

Wealth - Real wealth gives you options--for how you work, how much time you spend with your children & grand-children, where you travel, and when you will retire. 

   Actively manage your money by understanding the net-worth of your wealth-building process. Instance riches comes only to a select few, but most wealth building successes are realized after careful planning and effective management of their resources, having a goal, creating a plan, and are disciplined to execute the plan.


 02/16/2018 Market Summary

Market Quotes by TradingView



Always do your due diligence and seek professionals in that field. 



Top 10 Marijuana/Cannabis Stock

Market Quotes by TradingView



   Become educated – the fact remains that with increased education; one’s earning potential drastically increases, Managing finances is one of the most challenging elements for many people in their daily lives. It’s no secret that many people can be impulsive buyers, or simply don’t think far enough in advance to put self-gratification behind them . One of the best ways to build personal wealth is to simply save money. Any little bit you can spare can really add up over time.


Erase Debt
  One of the most important concepts you'll discover is that most successful wealthy people leave the comfort of their J.O.B. and go out on their own to build their own businesses. These people achieve wealth and financial freedom because they understand that working for someone else keeps them limited from their full potential. No matter how wonderful and generous your boss may be, you can never achieve what he has until you repeat what he has done. You must build your own dream, not working for your boss’s dream! 



Asset: Things you own (cash, bank accounts, 401k, investment, rental properties etc.). 

Liability: Things you owe (a credit card balance, expenses, a car or mortgage note, etc.). 

Net worth: The difference between the value of your assets and your liabilities. 

Assets (own) subtracted by your liabilities (owe) equals your $$$net worth$$$!


CuraDebt 



  Control spending: If you spend more than you pull in, say, per month this equals a negative cash-flow. Bad Budget! Budgeting your expenses gives you your 1st line of defense on where your money goes and can help you reach financial freedom. Whether you make thousands of dollars a year or hundreds of thousands of dollars a year, a budget is the first and most important steps you can take towards putting your money to work for you. Having a financial budget may help find that about 5-15% of your total spending may not be necessary . 

   -- Calculate what your income per month is.



   -- Determine how much essentials costs monthly.



   -- Determine & calculate your non-essentials monthly.



   -- Spend every cent "on paper" before the next month begins


   -- Give it 2-4 months to start working....starting a budget is tough if you are not accustomed to one. Save : 10% - 30% is a good place to start, but if you can't find a way to set aside 30% for your future, then start out smaller, maybe 10%, 8%, or 5%, or whatever you're able to do, but just start. 

Emergency saving: 

There will always be some kind of unexpected expense......ALWAYS. Car Repairs, Medical health care, etc.,

Be prepared!

   This is why you want to start out at around 30% saving because you also will need to split that saving per month between these other categories. 

Debt elimination: List all of your current credit cards & get them switch to the lowest interest rate you can find, consolidate if possible. But, beware you may trade lower rates for longer pay outs.

   -- Negotiating with creditors for settlements is another option for debt elimination.



* Eliminate credit card usage if at all possible. *




   -- Using a debit card instead of a credit card gives you all the convenience of a credit card but withdraws money immediately from your checking account, so that you do not keep digging yourself a hole.


   --Talk to a specialists, such as credit counselors and financial management companies. Develop an investment strategy: When considering any investment, you should keep in mind the big picture. The objective is to ensure your financial growth and security over a long term period.


Gain Control of your Business Debt  


  --Consult experts & do the research.

Continued growth,
Andrew Hayes



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Sunday, February 4, 2018

D.W.W.D. - Do What the Wealthy Do ~ Why They Succeed!

Photo by Olo Eletu 


Anything worthwhile in life is ever free nor easy! Making money, going after goals and even planning your next vacation. All require effort........it's just how the world works. 
WORK, being the keyword here. Some will shed blood, sweat & tears. Others will simply work smarter.

Many of people over the years have tried to short cut, scheme, steal their way into financial freedom. One things is for sure........many have found that in the end, it all catches up with them evenually.

As I research to procure the path to my own prosperity. When it comes to building wealth, I have come across about a dozen traits that stand out. These characteristics are common among the very successful in our society. And it should cause all that aim to succeed to take notice on how the rich build wealth and obtain success in life.

There's been a long standing motto in the entrepreneur circle.......study what your mentor does or take what the person you admire does and simple do what they do.  In our case, we are studying wealth building.......


D.W.W.D.  "DO WHAT the WEALTHY DO"

1) Wealth accumulation or wealth building is purely about your mindset.


Mindset - To establish a set of perspectives within ones thought process.

The mind must be focus in a positive yet passion mentality. Your mindset is not an anchored entity. It must be nourished and developed. This stimulates actions like motivation & productivity. 

Wealthy people also have a leadership mindset. They only follow when they are learning. That learning turns into knowledge that transforms into wisdom. This mindset creates efficient leaders. And great leaders produce results.

In short, train your brain for complete success in the task at hand. 



Excellence is a Choice Video - 100 Day Challenge2) Know where you want to go! 
When you find your path, you must ignore fear. You need to have the courage to risk mistakes. But once you are on that road... run, run, run, and don't stop til you've reached its end.” 
José N. Harris


Direction is important!

You must first know or at least understand where & why you want to go.

You don't generally step out your door, jump in car or on your bike and then travel aimlessly. You have a set place where you want to end up at. Plus, why you wanted to go there!

This is as well in wealth building......do you want to make an extra $500.00 a month? Is the goal $5,000.00 per month? Do you want assets of a million dollar by age of 40?

Define specific amounts and times, then plan to arrive at that destination!


If you have no good drive in you, your life will not be steered through a good direction. It will miss its destined station. Passion or drive is what moves the vehicle of a fulfilled life.” Israelmore Ayivor


3) Live life on your terms 

How does living life on your terms relates to wealth building?

To begin with a lot of us baby-boomers were raised up with the notion that if you go to school/college, get a great job, work your way up the corporate ladder. All would lead to this awesome life. Well, reality is, it isn't a pretty ride. Often times, we are sucked into an anomaly where that J.O.B becomes Just Over Broke!


2nd Quarter Video - 100 Day Challenge Car notes, house payments, student loans, bills bills and more bills. Before you know it your 40/50 years old and retirement is closing in fast. Where did all the years go? What happened to those dreams of travel, fine wines & epic adventures?


Live life on your terms means living the life that you were truly meant to live. It's is your biggest motivator. It should always inspire you to improve the quality of your life. Our life shouldn't be dictated by someone else time clock. 

Life is meant to be lived. With quality time with family and friends. Travels, hobbies and a sense of accomplishments. Financial freedom provides that type of lifestyle. 


Yes, live life on your terms! 


4) Read, that's right read! 

Every person worth more than a million $$$.....reads.

Not only is this a fact, they contribute their success to reading, a lot of reading.


"That's how knowledge works," Warren Buffett told an investment class at Columbia University. "It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it."

"Books were my path to personal freedom," Oprah Winfrey once said. "I learned to read at age 3 and soon discovered there was a whole world to conquer that went beyond our farm in Mississippi."

Reading increases knowledge, knowledge allows them to see opportunities. Reading improves their business sense, vocabulary, imagination, memory & creativity. Keeping them ahead of their competition. It also helps lower stress, while pushing you towards your goals. 


READ     READ      READ..........!




5) Don't make excuses

Another interesting trait of successful people.......they make no excuses. 


Excuses are just lies wrapped up neatly in reasons. As with any successful person, there will be failure. With a excellent leader they except responsibility. Great leadership except blame, then find ways for improvement.


"Ninety-nine percent of the failures come from people who have the habit of making excuses." ~ George Washington Carver

6) Invest 

Investing is not a savings account. Investing is having your money work for you over a period of time.

Investments creates wealth, just ask Warren Buffett. Mr. Buffett, one of America's wealthiest citizen with an estimated $76 Billion worth. Did so by investing, he give us these snippets........


"Long ago, Ben Graham taught me that 'Price is what you pay; value is what you get.' Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down."
"If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio's market value."
  "Successful Investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You can't produce a baby in one month by getting nine women pregnant."

Investing is a great way to beat inflation, much better than your ordinary saving account.


Invest in stocks, over say bonds, simply because over time they usually perform better and is your best shot at the highest returns.


Property investments have also proven to be fruitful for many of the successful.


Having a balanced diversified portfolio will create a higher yields while minimizing risks.

Last but not least,
An educated investor can help you reach your financial goals. The stock market has compounded wealth over the long term.  And has historically doubled every 10 years.

 Think long-term!



7) Triple D's

Stay focus now, get your mind out the gutter. 

D.D.D stands for Don't Do Debt! Your biggest obstacle towards wealth building is debt. Eliminated it at all cost. If you can't pay for it in cash..........then you can't afford it!

No further explanation needed! 

8) Eliminate self gratification

An important mindset that is tied in with D.D.D., is self-gratification. The indulgence or satisfaction of one's own desires. 

You want it now, but you'll pay for it later. This is also a wealth building killer. Including myself, many many people remain in debt because of the urge to have it now. 


Practice delayed gratification, or deferred gratification, the ability to resist the temptation for an immediate satisfaction and wait for a later reward. 

Save that $5 today, have $5 next month.
Don't buy that flat screen now on your credit card @ $2,000.00 with principles over two years. Save for one year, buy the new improved model for $900.00 next year.
Invest that $1100.00!


9) Seek prosperity, abundance

Money is actually everywhere, even in bad economic times, money is out there. It's circulating some where. I was reading somewhere or heard this at a seminar. And remember this example about money: 



Take an item, sale it to someone. Now there are two situations going on here right now. 


Person 1) has money to buy or paid something. 
Person 2) has something to sale.

P1) now buys or pays for a product or service somewhere. This payment has now transferred between 3 people.

P2) decides to sale that item for a profit. P2) now has a payment (money) and has put a product back into circulation. 

That money is doing nothing but circulating.



I have always said to myself.....all I want to do is get caught up in that whirlpool of money. It's my version of the rich get richer. (I wrote in an earlier article......don't hate on the hustle who flips his profits.)



Think BIG, Dream BIG.......Do BIG things!  

10) Figure out a NEED then FULFILL it.

One way to build wealth is to create an income. We do this by starting that chain reaction mentioned above. Sale something that someone wants and supply it to them. 

Supply and demand, it's been done for centuries. Provide a better product, an improved service or simply offer an outstanding value.


Find a need and fill it.   ~ Ruth Stafford Peale

11)  Associate with those you want to be like


If you wanted to become a baseball player, would you spend your day around people who build cars all day? Your interest is flying airplane, why would you read books about sail boats? Have you every seen a drug addict hanging around a fitness junkie? It's kind of easy to understand the simplicity of this.

You are a product of your environment. I believe it was Jim Rohn that said it best........
“You are the average of the five people you spend the most time with.”
It will be that surrounding that will shape who you are and what you'll be come.

"It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction." ~ Warren Buffet
Successful wealthy people always have MENTORS!

12) GIVE back

You go to church, you know about tithe. Which means “10% of your earnings to your church,” yet in the Old Testament, it actually was 10% paid twice a year (20%) of your crop or cattle to the land of Israel. Just a little biblical knowledge

 All the same, giving back has many benefit and gratification.

This is be a conscious decision. Yet, giving is a spiritual being. Those that give back find that it does come back to them in some form.

 As in tithe, when you give 10%, you are likely to receive even more back. Is this a scientific fact or simply the law of attraction? 

There are however, tax-benefits as well. In most cases, one can deduct anywhere from 30% - 50% of your adjusted gross income in charitable contributions.  

At the end of the day..........it's a great feeling, so give when you can 😉



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To the best year ever,
Andrew Hayes






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All the best in 2018,
Andrew Hayes









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Thursday, November 2, 2017

Fantastic Frenzy Fills the Financial World - A Day in the Financial Sector

Digital financial wave graph pointing upward
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   When we woke up this morning, and your alerts are going crazy.......

   Bitcoin tops $7289. Held it's ground for a bit then dip back below $7K. And like a stubborn mule it regained it's ground to settle above $7K. 


 Bitcoin Revolution
   Say what you want, I know there are skeptics who under estimate this technology & it's eventual value behind Bitcoin and other cryptocurrencies. Yet, it seems even Amazon has taken to the bug. They have recently acquired 3 domain names to utilize what maybe the set-up for future crypto payment acceptance.



Digital cryptocurrency cards future payment process
   With Amazon downplaying the purchases to a mear trade name protection move. Those names include amazoncryptocurrency.com, amazoncryptocurrencies.com & amazoncryptoethereum.com. 

   A few years back Amazon secured amazonbitcoin.com which seems to play into that speculation. 

   Amazon insist that there isn't enough demand for the digital coin to began accepting Bitcoin or any other cryptocoins as a payment outlet.

   This I believe, will be the biggest understatement for many in the near future. There will be a point of trust in the technology, where bitcoin and it's siblings will integrate seamlessly due to demand.


A man holding a sign with tax reform printed on it
  Adding to the financial whirl wind today, President Trump has disclose the administration's Tax reform plan. As it would has been expected. Plenty of fanfare on both sides. I'm so amazed how we have a government that is elected by & for the people yet allows for complete differential in accomplishing little for ALL the people. But, maybe that's just me.


   This 429 page Tax Cut & Jobs Acts reform bill entails proposals that are to enhance corporate & the middle class tax burdens. Trump is expecting a passing of the bill before Thanksgiving. 

The word Tax in big letters with a little man in frontA snippet of the bill:                                   
  • Increased Child Tax Credit
  • Corporate Tax at 35% would be cut to 20%   
  • A company can now deduct investment within same year
  • Larger standard deductions
  • A reduced Home mortgage  interest deduction
  • Eliminating the Estate Tax after doubling it 
  • Eliminating Personal Itemized & Credit deductions 
  • Eliminating Medical Expense deductions
  • Eliminating Alimony Payment deductions
  • Eliminating Student loan interest deduction
  • Changes in State & Local Tax (S.A.L.T.) deductions
  • Tax on Imports from U.S. companies
  • No changes in 401K Retirement 
   Here are just a few of the proposals on the table. As in most any reform procedures there's going to be up's & down's. It would seem that the up's and who benefits are corporations in the higher tax brackets, heirs to estates (over time), low & high income households. 

   Plus, it would seem that doing our own taxes is in our future, as they will be that simplified as to do so.

   The big loser in all this comes out to be the U.S. national debt to the tune of $1.7 trillion. 


   Let the Games begin!



 Solar Powur Sustainable renewable energy

   
   Here's a little something on the lighter side of today's financial frenzy.  President Trump's newly picked Federal reserve chair-person Jerome "Jay" H. Powell seems like he might go through confirmation without to much distraction. 

   Seeing as he pretty much follows or rather voted along the same lines as the current chairperson Janet L. Yellen. "Jay" as Trump affectionately pinned him in this mornings press conference has been on the Fed's board since 2012. Which would lead one to believe he understand the inner workings of the financial institutions. While others feel he is more in tune to Trumps's wealth building mentality.       In Trump's own words........


President Trump pointing while speaking to the public
Trump says,

"Today is an important milestone on the path to restoring economic opportunity to the American people
  

   Only time will tell.  

   I say, looking at the way Wall street has been reacting since Trump's election, The wealthy will continue to become wealthier. 
They smell where the money is and go. If getting paid in the future is on your to do list. Simply........do what they do!

   Touching more on the subject of picking the best stock for your portfolio, that I started in yesterday's post. Don't forget to look within your own circle. 


 Stock market for beginners
   They say, word of mouth is your best review. What about the products you use everyday. Cars was my example yesterday, but yes, things like the company that built the microwave oven you use. Or your favorite television, smartphone, computer. Believe it or not, your kids & grand-kids are a great source on whats the next new thing. What do you see other people using or talking about?


An Apple store  with the apple logoYour next best pick can in the palm of your hands, be staring right at you, speaking to you everyday.......

APPLE Inc. (APPL, +0.73%) 
Hits it's ALL-TIME high today.

Remember, INVESTing in the stock market and you own a piece of that company!





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Friday, October 20, 2017

When An Alternative Means Of Income Exist

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Modern Hi-tech representing wealth in the digital world



  There continues to be an honest alternative courses of action when it comes to earning an extra income online & off. We are going to focus on technology based internet of things.  

   In this ever so technological enhanced world we now live in. Using our computers/smartphones/mobile devices to generate an additional income stream can become a reality with some due diligence. Part of this reality is that utilizing these advances are just down right essential. Baby boomers who have been retiring by the thousands since 2011.  Are among the 76 million of us that will be (retiring) at some time or another over the next 14 years. 

Social security card Backup plan secure your wealth now Baby boomer
 Social security will simply not fulfill your needs for a comfortable lifestyle, especially one deserved after years on the grind. Maybe it was a lack of financial supplement strategy that failed to adequately build a sizable nest egg.  Look, age is nothing but an number. There is always hope. Simply, become pro-active, get involved, and utilize what is available in your life today.


We are entitled to a most beautiful life in our gold years.
"Let's NOT become technology illiterate"

   We are bombarded everyday with all sorts of so-called opportunities. To be honest, it's calculated that within the industrialized countries, humans are exposed to anywhere from 4,000 to well over 10,000 advertisements per day.  A good portion of these ads are indeed, work, income opts. 

   All in the form of pop-ups, emails invites, social media outlet etc. Despite most of these get rich quick programs being worthless. There are oodles of legit home/internet based work and investment opportunities that operate within a trusted online business model. 






Persons working together success

   These business model are not schemes, their only true fault or misinterpretation is they require effort. Nothing worthwhile in life is EVER going to come to you free or easy! We ALL should know this by now. Once you understand that statement........searching for a way to add income into your life stream will eliminate 3/4 of those seemingly quick ways to get $$$ opportunities.

 Jim Cramer 14 day trial Investing Club
You could start a physical "Brick & mortar business".

   This was how it was done for decades. Yet, I like to believe and understand that retirement was meant for us not to be working harder but smarter and of course LIVE LIFE. Not saying that opening up a physical store is awful. Or that easy living is a most.....a little hard work & elbow grease NEVER hurt anyone. Beside, the true spirit of working....is to do what you have a passion for. Remember, if we are doing work after we are retired, it best be something we want to do.


“Choose a job you love, and you will never have to work a day in your life.” ~ Confucius


   I  just want to make aware that there are other passages one can take to achieve goals &  make extra income.  It comes in the form of technologies in computers, mobile devices and most importantly................our smartphones!


Technology based home office computer tablet smartphone multiple monitors writing pad pen desk

   See, what really happen a few decades back. This tech stuff was really here to help us baby boomers along. Isn't it the debt repaid for our many sacrifices so that our children could live a bit better life. 

   I see some truth within them there sentences. I see that our younger generation has taken to these mobile tech devices with ease. They have had the opportunity (time) to exercise their handle of these new devices, while we boomers were out working to make sure our children & grandchildren could have said technology. 


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   Remember this one true fact millennials, it was the baby boomer generation that set the stage & help built your devices you are so comfortable using. While you were playing and grew into them. We boomers could only master them in our spare time. Please do not get us twisted..... we are NOT old, just older!

   With that being said, I think it's time that we boomers put in the effort to grasp the benefits of all this available technology.

   The benefits of using the internet as a financial tool is that it could add substantially to your financial nest-egg.

   It will however take "WORK" & due diligence!


Group of older generation baby boomers enjoying life

   Many of the "baby boomers", yet not exclusively......our younger generation are finding it equally as difficult to save for a "Nest-egg".  Living the short term financial lifestyle (work, spend & try saving here and there), thinking  that is a secure enough path.  

   When corporate greed, world events, down-sizing etc. intervened. Where we once thought our "so-called privileged" (j.o.b. Just Over Broke) lifestyle would sustain. Yet, that thinking/planning did not include retirement.


So what happens now when you no longer attached to the workplace????


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We.h.i.t. aka WEalth Health using Internet Technology mission will provide a little insight into a world of positive future growth in our lifestyle, wealth management & health. 

Ongoing discussions to include yet not limited to......
  • Investments & investment strategies
  • Eliminating debt
  • Making healthy/healthier lifestyle choices
  • Capitalizing on emerging technologies
  • Ways to give back, WE are still useful

   I hope that I can inspire, motivate & be a positive force in our connection. This popular saying below speaks for itself.........

We don't meet people by accident they are meant to cross our path for a reason

Please feel free to network, connect & interact. Comments & suggestion welcomed.


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