|Peter Schiff and Paul Krake’s Gold Feud on CNBC – April, 15 2014|
There is a new paper published which raises further questions on the robustness of multi-decade global climate predictions.
Spencer, R.W.; Braswell, W.D. On the Misdiagnosis of Surface Temperature Feedbacks from Variations in Earth’s Radiant Energy Balance. Remote Sens.2011, 3, 1603-1613.
The University of Alabama has issues a news release on it which reads [h/t to Phillip Gentry]
Perhaps it is something that crossed your mind, but you brushed it off believing that you do not have what it takes to pull it off. Or maybe you’ve taken years to decide whether it is really what you want. I am referring to the ultimate dream of retiring rich.
How to retire rich remains a fantasy to many, but as with anything in life, the moment you clearly define what you want and devise the steps that will get you there, the dream becomes a goal, and once you implement the steps, it then becomes a reality.
In this article, I will explore four simple steps on how to retire rich. Keep in mind that the earlier you start planning, the better.
Step 1 – Define exactly what retirement means to you
Irrespective of how old you are, you probably have a vague idea of what retirement really means to you. Unfortunately, vague is not good enough. You need to visualize exactly what you want your life to look like after retirement if you are going to be able to plan carefully for it. Where will you live? What will you spend your time doing? If you want to retire rich, how rich is rich? You need specific answers to these questions.
Step 2 – Determine how much you need to retire
After you have defined what retirement means to you, the next step is to put a price tag on the lifestyle that you have visualized. If you intend to travel the world in style, find out how much it would cost and multiply that by two just to make sure that you supersede your intended financial targets.
You also need to make sure that you are creating income streams that will be compatible with your financial goals. One thing that gets people into a panic is the realization that they will outlive their money. Do not let that happen to you.
Step 3 – Set a retirement date of your own
For most employees, this is the scary part. This is because retirement is usually looked at as society’s way of pushing you out of useful existence. Suddenly the big extended vacation after 30 years of work becomes extremely scary.
You need to understand that retirement and old age should not necessarily go hand in hand. If you want to retire rich, it helps to set a time horizon over which you intend to achieve the financial resources that will give you your desired lifestyle.
Step 4 – Work towards achieving your retirement goals
The final step is to take proactive steps to make sure that your goal remains at the top of your mind and that it influences your every financial decision. This requires discipline but with a little practice, it should come naturally.
Do not fall into the trap of thinking that you still have time, irrespective of your age. Working steadily towards your plan on how to retire rich will allow you to make necessary adjustments along the way to cater for any inaccurate assumptions that you might have come up with at the planning stage.
Retiring rich is a dream for many people because they keep it that way, just a dream. However, the only way you can turn your dream into reality is by taking proactive steps, however small, to achieve your desired end.
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When we discover the wonders of passive income, most of us nine to five workers feel we don’t have the time to spend on generating what we perceive to be a random income.
We see it as random, i.e. some days we get no income from it at all and other days we ‘earn’ more than we thought. What we also might see is that it is just a small amount of cash, which is nowhere near to our salary, so therefore it’s not worth bothering with and certainly not worth giving up your job for.
There are a couple of things that perhaps you have not realized here. On the internet, your income comes to you day and night and at weekends, 24 hours a day, from all over the world.
There is also the concept of scalability.
What is so beautiful about any passive income streams is that they are easily scalable, meaning that you can add and repeat the process endlessly. When you have set up one on a particular subject, you can go and do something completely different and set up another one.
Setting up the second idea is a lot easier than the first as you have already introduced yourself to a lot of the tools and resources that you have already used, such as Google AdSense or YouTube. So the mechanisms for setting up your next passive income stream are known to you and you are happy to use them again for your second and ongoing ideas.
The only thing left for you to do is to think of some good quality content that you can give to the world in the form of a website, blog, video on YouTube or an article on one of many article directories.
So for instance, your first passive income stream, a website on dog training, only earns you a few dollars a month. Now you can set up another website on writing musical ballads, something that you have a passion for.
What you will realize is that as you produce more websites or videos or articles, the ones that you didn’t think would do well do and conversely, what you think is your best website doesn’t. This fickleness of the general public will drive you mad, but it’s still good watching the little bits of cash fall into your bank account!
Eventually, the combined little bits of income from each source will start to add up.
It goes without saying it is important to save your pennies. A savings account allows the saver the ability to plan for future expenses and goals while still maintaining their daily lifestyle requirements of electricity, food, water and any other bills he or she accumulates on their personal path to savings.
That said when it comes to actually creating a savings account the question remains where should I save my money?
I hope to help shed some light on this question and put your mind at ease when it comes to saving your money. I also hope to shed some light on savings accounts that are now available online that offer higher interest rates to the customer.
After all the goal is to save your pennies and grow the most interest opposed to saving your money in a low-interest baring account.
“Where should I save my money?”
First you need make a personal saver plan that address your needs as an individual. Start by asking yourself these questions:
How soon will I need access to the funds? Can I save the money for 1 year, 2 years, 5 years? Retirement?
If your saving for the long haul your best bet is to save your money in a CD (certificate of deposit), stocks (long haul stock options are generally very safe), or another interest baring account that allows you to lock in a decent rate assuming you will not need access to your funds for a long while.
CD’s or certificates of deposit are usually offered through your local bank. There are also a variety of CD’s and CD products available to you online. A simple Google search of “certificate of deposit” or CD will give you more information and help you decide what the right fit is for your personal goals.
If your interested in playing around with stocks and share holdings make sure you are in the “savings game” for the long haul. The stock market is very fickle and can have small ups and downs or very large, heart stopping up and downs.
However if you choose well-known popular stocks that have stood the test of time and are in it for a long while you may find you easily double your money (LONG HAUL). Investing your savings in the stock market is very often more lucrative than a traditional savings account, again assuming your in it for the long haul.
If you’re going to need access to your funds in a shorter amount of time you should look at online saving accounts. Online savings accounts allow you some flexibility when saving your money but do not “lock” your money into a term agreement. You have the ability to schedule how much money you would like to save per paycheck, per week, per month, etc and yet if need be you are still afforded the ability of access to any savings you have accumulated along the way.
There are many banks that operate solely online that allow you to access your funds via any ATM machine but are able to offer higher interest rates because they are not supporting a traditional “brick and mortar” bank. Ing Direct comes to mind as one of those banks, they are FDIC insured, offer mortgages, savings accounts, checking accounts etc. Check their website for more information
If you take a quick glance at your monthly expenditures surely you can find, $10.00, $20.00 or more in your budget that you are wasting on items that are not necessary (these items are usually entertainment or frivolous purchases anyway) start tucking away that small amount of money and watch it grow.
In order to become a savvy saver you must first create your personal savings plan, gauge how much of your income you can comfortably set aside, set up a flexible savings account that directly takes X amount out from each paycheck and wait for your extra cash to start piling up.
In a few months you will be quite pleased that you actually saved the extra money rather than frivolously purchasing your 44th video game. Good luck future saver!
To learn about your credit profile and other money management techniques follow my series Repair Your Credit Profile. Good luck in the financial world, it’s rough out here.
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Before you can really start investing, following top 10 things you have to think about:
Do you have enough money to invest?
I think most people in young age fail to do proper planning for their finances. For example they might go out and buy a house prematurely. I know a colleague of mine who ended up making huge losses on the condo he purchased during 2007-2008 timeframe. Since he was early in his career, he had to eat those losses and sell the house at a much cheaper rate than what he bought it at.
Ideally one should sit down and plan the finances for next 3-5 years before making any investment decisions. Do not think month to month, think medium to long term. Then start allocating small chunks of money into various investment vehicles. It can be buying a house, purchasing stocks or anything.
Stock market is a risky bet as you don’t really have anything tangible as you do when you purchase a house. Due to that reason, you should only allocate the money into the market which you don’t need anytime soon. So do you have a chunk of money which can be put into the market?
Goal for investing
Now the second thing you should figure out your goals for investing. My personal goal when I was 22 years old was to grow my money rapidly. That may not be suited for everyone. So some possible goals are as following, you have to pick yours:
Timeframe for investing is equally important. You absolutely have to know your timeframe. Are you thinking about buying a house few years down the line? If so, are you going to need some cash out of your investments to make that purchase?
Will you need money to buy a car next year?
Are you getting married in 6 months and need money for your honeymoon?
These are the kinds of questions will help you narrow down how much money you can spare for investing at what risk level and for how long.
Risk tolerance allows you to figure out the instruments you are going to be trading. Somewhat risk averse people will / should choose for real estate for example. People are who want to play really safe, should look into municipal bonds etc. which have guaranteed returns over the years.
People are who want to be aggressive and grow their money fast, should look into stocks. There also you can find people trading small cap stocks which are much more volatile. However such strategies involve significant risks and you can blow up your account in a matter of days if you aren’t careful.
Your investing style, assisted or self-directed?
Are you comfortable choosing your own investment vehicles (maybe with little training) or do you need an advisors. Advisors usually come with a fee, so you have to invest enough cash to justify their costs. Otherwise you can go through some do-it-yourself-guides online for investing and start your investing journey.
How much time can you devote?
Do you have a fulltime job? Can you spend 1-2 hours daily to research your stocks or you want to focus on your job and maybe look at investments as a side thing you review every month? That makes a huge difference in your style.
Expertise in specific industry
Is the any specific industry or sector which you understand well? If so, you might want to research stocks from that industry as you will know how to shortlist those and review them. If not, you might want to look at index funds etc which put their money into a basket of stocks from various industries.
Your retirement planning
You have to figure out your retirement planning as early as possible so that you can start putting some money aside in IRA accounts etc. That money you should probably play safe with as that is something you will require when you aren’t in the best earning capacity.
Look at your tax bracket. Contributing to IRA helps reduce your tax liability. Also holding period for stocks determines your tax rate on any gains you have made. If you hold the stocks for less than a year, any gains become part of your normal income and get taxed according to your tax bracket. However holding more than year makes it capital gains which is usually around 15%, much lower than normal taxes.
What brokerage do you want to invest with?
Now when you are ready to start investing, first thing you need is to figure out which brokerage firm you want to use. You will see so many advertisements on TV, Radio etc. that you might be feeling overwhelmed and confused. Don’t worry about that part at all, we have done lot of research to help newcomers. Please check out our resource area at the bottom for further instructions.
For detailed information about how to start investing, please visit our blog at http://www.comparebroker.com/expertspeak/category/saving-investing/investment-education/
If you are looking to start investing and not sure which broker to choose, take a look at the research our team has done: http://www.comparebroker.com
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There are many different interpretations of financial freedom. Try asking your family and friends what it means to them to be financially free and they would likely be giving you different answers. Some people define financial freedom as being very rich. To some, it’s a state where one can afford anything that he or she desires. Then there are those who think that being financially free is to be totally debt-free. Still, others see financial freedom as having sufficient money to retire. As you can see here, financial freedom means different things to different people. What does it mean to you?
What is the real meaning of financial freedom? To me, you’ll be financial free when your passive income exceeds your expenses. Even if you quit your job today with no more salary going into your bank account regularly, you’ll still have passive income to cover your expenses. This is a situation where you’ll never worry about money again. You now have no fear even if you lose your job. You work because you want to and not because you need to.
Importantly, note that it is passive income that I’m talking about here, not active income. What is the difference between active income and passive income?
Active income is the income you get for performing a service. The salary paid to you by your employer is active income. It requires your active participation. Simply put, you get paid when you work and you’ll be paid nothing if you don’t work.
By contrast, passive income is the income that you get on a regular basis without your active participation. An example of passive income is the rent collected from the tenant on an investment property.
Being wealthy and being financially free are entirely two separate things. While it is common for one to assume that those who achieved financial freedom are rich financially, the truth is that being financially free has absolutely nothing to do with whether you’re wealthy or not. Therefore, even millionaires are not financially free if their total incomes are unable to meet the expenses arising from their rich lifestyles. Thinking of becoming a millionaire can be daunting but financial freedom is certainly achievable. Many people actually became financially free first before they moved on to become millionaires!
Have you been chasing after money without knowing exactly why or how much is needed? I hope that knowing the real meaning of financial freedom would help change your perspective and ultimately your life. Why? Because you’re in control of your expenses and the passive income that you intend to pursue. You can start your journey towards financial freedom now by controlling your expenses. At the same time, begin saving more money to invest in assets for multiple streams of passive income.
So, when will you be financially free? You call the shots!
Kelvin is a millionaire investor, landlord and author. He held senior management positions in multinational corporations before retiring from corporate employment in 2007 to manage his own investments. An active investor in real estates since 2000, Kelvin now owns several properties in Singapore and Australia worth millions of dollars. Kelvin has achieved financial freedom by 39. A Dean’s List graduate in the top 5% of the university’s cohort, he holds a Bachelor of Business degree in Marketing & Management Science and a Diploma in Business Management.
Please visit http://www.kelvinwong.com for more information and check out Kelvin’s Finance Blog at http://www.kelvinwong.com/kelvin-wong-finance-blog.html for resources on budgeting, savings, debt management, investing and wealth building.
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There are three fundamental reasons why investors are buying silver coins: for a future growth investment, for a hedge against inflation, and/or to survive an economic collapse of the current government. Currently, some investors are purchasing silver coins because they believe the price of silver is going to increase in the near future according to supply and demand principles. This article will cover these fundamentals, and give scenarios of past and present situations in which investments in silver coins was or can be an excellent investment strategy.
In past precious metal bull markets, silver has outperformed gold by tripling in price when gold only doubled, and in some instances silver quadrupled in price while gold only doubled. One of the biggest factors for these occurrences is silver’s numerous industrial applications which far outnumber gold’s industrial uses. Since 1990, silver production of up has fallen well short of industrial demand. In fact, in 2001 silver production fell 117.5 million ounces short of industrial demand, and the demand for silver needed to produce currency raise the shortage to 142.5 million ounces. It is believed that more gold is currently stored in vaults than the total amount of the world’s above ground silver supply. This is most likely the reason why in 1998 Warren Buffett purchased 129.7 million ounces of silver.
Most Financial Investors will advise the purchase of junk silver coins over premium silver coins. Although premium silver coins may be more aesthetically pleasing, they will not hold up in value during an economic collapse of a current government. The amount of silver content the coin possesses will far outweigh the coin’s rarity or beauty when trying to barter for goods or services. Take for example, the economic collapse of the banking system in Argentina and Paraguay in 2002. The citizens that converted their Pesos and Guarani for gold and silver coins protected themselves when the banks closed, and even after banks reopened clients were limited to the amount of money that could be withdrawn.
An investor buying silver coins will need to follow some basic guidelines. A safe investment would be purchasing Morgan Silver, Roosevelt dimes, or 1964 Kennedy half-dollars. Just as important as what you buy is who you buy from. Whether it be your local coin shop or over the Internet, the investor should research how trustworthy the business or dealer has been in the past. Ask other investors for recommendations and gather feedback from previous customers are both good ideas before doing business.
U.S. coins minted before 1964 contain 90% silver content, and because they were circulated as a legal tender they’re no longer in mint condition and are referred to as junk coins. Although they may be worthless to collectors, investors see only profit. A Roosevelt dime that was originally worth 10¢ would today have a melt value of $2.20 because it contains approximately 0.07234 ounces of silver.
A collector will pay $18.00 or $19.00 for a Morgan silver dollar, but they contain 0.77343 ounces of silver. If melted down, they would be worth $24.00 to $25.00 to an investor at today’s prices. Typical dealers sell $1000 bags face-value of junk silver coins which will cost the investor $12 to $13,000 at today’s prices. But at online auction sites and investor can find dealers selling smaller quantities, and some dealers even offer free shipping. Putting in a bid just above spot value on several lots will often land an investor a few winning bids.
Some strategists predict that silver could climb as high as $150 an ounce, and for an investor buying silver coins at today’s spot-prices this could mean as much as a 328% return on their investment.
To find out more about investing in silver, silver coins, and junk silver please read Nathan Lee’s article series at: http://coinsworthmoney.org/. Learn timely and instructive information on silver and silver coin investing before making your short and/or long term investment decisions.
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So you want to make more money? You want to be able to pay off your secured credit card debt, or maybe you want to be able to take that dream vacation. Whatever the case may be, there is no reason why you can’t make it happen. If you really want it bad enough, please tell me who Is going to stop you. Let me answer that for you… no one!
Anyway back to the subject when it comes to money and a home based business I learned something rather early in my life.
It’s NOT about the money. It’s about what you become while pursuing what you want. Most people in the home business industry have that in common. That is very important and something that I think you need to take note off. You need to develop your mind. It is such a powerful tool that many of us use, but to our disadvantage.
Well we think negative thoughts, ponder on negative circumstances and think that this is the way it’s always going to be. NO IT IS NOT.
I remember speaking to one of my mentors in a home based business and I asked him what his secret to being successful was. He looked at me and said “Act as if everyone was watching you at every moment. That my friend is how you become a superstar”.
Ever since he told me that, it changed my world. It made me want to push even harder when it comes to making money with a home based business and gaining freedom. Trust me it is NOT easy at first. There are a lot of road blocks to go through and you need to really dig deep if you want to make it to the other side.
One thing I think you should start to implement right away is a vision board. These will help you so much because you will see the things that you want and are working towards. If you are not working towards something then all it really is, is a hobby. You can get a cheap board in a local store but man, it can make a heck of difference.
Try that tip right now. Get a vision board. See what it does. Write down what you want, put pictures of it. Make it real.
Now works towards that.
Hope that helps you on your path.
When it comes to learning all you need to know about money and how to truly handle your finances I never came across a better website than
Make sure to check out and absorb all the helpful information they have to offer!
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So what exactly is a goal? Basically it’s the end result or achievement from channeling your energy into action to reach a target you set for yourself. Setting a goal is the first step in turning your dreams into reality. Do you know why people place so much emphasis on setting goals – because IT WORKS!
There are three components to a goal:
The what – what is the goal and what is it’s purpose.
Your reason why. Why do you want to achieve this goal and what your rewards are going to be at the end. Again write these down and put them up where you can see them.
How are you going to achieve this goal, what plans or strategies do you need in place to make sure you reach your target.
People make the big mistake of thinking there is a secret skill or a hidden agenda when setting goals. Unfortunately they are way off the mark. The truth is, the most important part of goal setting is you. You are the one setting the goal, you are the one with the reason why, and you are the one who will stop at nothing until you achieve it.
If you want to stop being a dreamer and become someone who makes things happen then you need to start setting some goals, and achieve them. Achieving them is vital. There is no point in setting a goal you have no intention of achieving. Some people make the mistake of setting a goal so high that they know it is almost impossible to achieve. These people are still just dreaming, and trying to kid themselves into thinking that they are setting goals. It’s important to start small when you are new to setting goals. Don’t get too big too soon. Set yourself a few small goals, set about seeing them through, and then move onto to something bigger. Having a goal is a great way to give yourself direction, motivation and focus.
You can set a goal for any area of your life. Provided you are true to yourself and follow through to the end, you will always have success. Think about things in your life you are not happy with, or you would like to change, and then set some goals that will allow you to make the changes you desire. These changes will most definitely offer you a better quality of life. You will feel good about yourself, and your lifestyle will change for the better.
For example how many people are unhappy with their current employment? thousands. And yet they continue to do what they are doing because they can’t see a light at the end of the tunnel. If they set a goal to change their employment and income levels, and then put a plan into action to reach their target, they would not only feel better, but once their goal was reached the feeling of satisfaction and pride from having successfully achieved the outcome they were hoping for is incredible.
Would increasing your annual income be a good goal to set for yourself? How about turning your annual income into a monthly one? Well it is possible.
If you would like to know how to turn your annual income into a monthly one and turn all those ‘dreams’ into realities, there is a way. I can help you establish your own home business that provides a residual income, which can make it all possible for you. Click the link below to find out how to get started today.
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