35 Burst results for "Optimal Finance"
How to Invest: Meaning and the 3 Circles
"How to invest meaning and the three circles by Phil town of rule one investing dot com. Investing for beginners. Circle of competence. The most important thing. I can tell you about becoming a great investor is to focus on your circle of competence. What that means is that area of the world that you live in that, you actually know quite a lot about for most beginning investors. We sort of think we don't know anything about anything I know I certainly felt like that when I started off. But in fact, my teacher told me to start by looking for meaning in each investment. Invest in a business that means something to you. Try to buy businesses that really mean something to you to start with, I have to find out more about me. What actually means something to me what do I actually know something about To figure it out I, want to look at the three circles exercise. Choose Industries you're interested in. What we're doing is loading in industries where we already have a lot of knowledge I'm pretty good at computer software and services as well as Internet hardware, real estate, stuff, clothing, personal items, automotive, and getting those off of this list. If I see things that I made really already know quite a lot about like, let's say leisure and media recreation entertainment hobbies. I just read the description and you can see some of the stocks are in. That category, for example, storm and Ruger and company they make guns and I like guns. So I'm adding Leisure and media to my list. Now, we'll see that leisure and media is on my list and I'm on to the next part of the three circles, which is talent circle to add to that. So you go through each of these circles and simply save and continue by putting on items that you know you already know a lot about. How to choose a business? That is right for you? The first one is passions. The second one is talent. What are you really talented at? What do you know a lot about what can you be world class at and the third one is where you spend your money. So you start to look for things that are in all three of these save them and the program will go out and find industries that matched the talent passions and money circles that you already put up. Now you can see this has come up with a pretty darn good list so it started. OFF THAT I wasn't sure I'd have any companies I might know anything about and it turns out. There are many many companies that I know a lot about for example, let's go over and look at recreational vehicles that sounds like something I might know a bit about what I get is a list of all the companies that are in the recreational vehicle industry group. You can see it's got Harley Davidson and they make motorcycles polaris makes no machines and four wheelers Arctic cat make snow machines winnebago makes those big Winnebago's right. I already know something about these companies. These are companies that I have some connection with in my life. Why we care about understanding a business. So. Why do we care about understanding the business? Well, in one if we buy one share of a company, it's as if we bought the entire company when I buy one share of something I, feel like I own the entire business. Investing, tip the my rule. One Way to think about this is that imagine that my uncle gave me a billion dollars to go out and buy a company with. But the rules were that only get to by one company and that company would be the only way I, make money the whole rest of my life, and if that company went under I would have to live on welfare. So I by every company that I look at it as if it's the only company, my uncle will let me by this is a great rule. You should think about it, I, call it my uncle rule. Investing tip the ten ten rule. I also have what's called a ten ten rule. It says, I'm not going to own a company for ten minutes unless I'm willing to own it for ten years. So if I'm going to buy a company and be willing to own it for ten years, he'd better be something I like and matches my value systems I'm passionate about it I. Love It. I'm talented at it and I spend my money in it. Conclusion. Those are the things that make me connect to my investments and the more I connect with my investments the more I own it as if I owned the whole business, the more I understand the meaning of the business, the better investor I'm going to be.
How I Used the Principles of Minimalism to Make $8,000 by Emma Scheib
"How I use the principles of minimalism to make eight thousand dollars by Scheib of simple slow lovely dot com. If you told me a few years ago that minimalism or simple living would lead to generating money. I would have laughed away of living helping generate income sounds too good to be true. and. Right now, you're probably wondering how I'm going to spin this and if it's actually as good as it sounds right. Well from one skeptic to another I, invite you to open your mind to new possibilities. Let go of preconceived ideas about how making money should look which for most people looks like being employed and let your imagination lead you because I believe that when you let go of clutter both physical and emotional and embrace freedom, there were many opportunities for your finances to benefit. So here we go. Let's break it down. Making money was a byproduct. I never set out to use the concepts of minimalism to make money. My pathway to simple living was forged through many years of living in the land of busy and overwhelmed. I chose to slow down and simplify, and one of the consequences was an opportunity to make money. It didn't happen overnight. I spent a couple of years emptying my home of the things that I didn't need anymore drawer by drawer box box. That's the only way I got there. There were many times that I wished the process would go faster, but it just didn't work that way and going slower allowed me to apply and environmental mindfulness to the process. As ID cluttered and simplified I gained freedom. When I got to a certain level of empty a few shelves here and there a barebones closets I began to dream of things I'd previously deemed impossible. For instance, a family sabbatical overseas seemed a little bit more doable less to pack less to store less work to prepare for. Okay. Okay. Enough Preamble I'll cut to the chase for you now. Making the money. So. How exactly did we make eight thousand dollars as a byproduct of choosing to live more minimally. We were able to rent our beautiful home over the summer. We live in a beautiful part of New Zealand with the best, beach in the world only seven minutes drive from our home. It's a sought after location for New Zealanders and many foreign tourists to we'd heard of other people renting their houses out as holiday homes and knew that it could be a profitable venture but laden down with four too many possessions. I never seriously considered this as an option for. Making money the preparation to get the house ready would have been absolutely enormous and completely unattainable when I left my fulltime job to set about restoring sanity and balance to our house. We knew that renting our house out would be a great option to help replace a bit of my income, and by the time we decided to go ahead and advertise I had a couple of years of decluttering under my belt. There was still work to be done, but it wasn't overwhelming and having an external goal to hold me accountable helped to push through some of the harder decisions about what state or got donated I'll be honest with you though we do not look like minimalists are home does not have that scandi minimalist look. We still have stuff. We still have excess stuff. In fact, I'm often embarrassed if anyone sees her garage, but it's one hundred percent better than it was three years ago. So. Now, let's talk about how minimalism might help you make some money. How could minimalism help you create extra income? Sell items. I sold a few things but donated most I was already pretty time poor. So I decided on the more efficient way to purge items. But if you have some extra time, consider at least selling your bigger ticket items but also you might hold a garage sale or list your things on a local facebook garage sale page the excess items you no longer want could translate into hundreds of dollars if you want them to. Buy less. Put yourself on spending ban and save the money you might have spent. You might be surprised how much you spend each month on non subsidies? Yes. I'm talking takeaway coffee makeup homewares, etc. Check out the year of less by Kate Flanders for more inspiration. Do what we did. I highly recommend considering renting out your home for a period. It won't be for everyone, but you may not know until you try. But also if you aren't quite there yet you could consider using the extra time you have by not having as much to clean organize and maintain to earn a little extra money on the side. Perhaps you have a creative pursuit that you might be able to earn some money from free up your time, and this could become a profitable reality. I get that many people do this they rent their whole house or part of it without identifying as minimalist or a slow living advocate. But I'm giving this way of living full credit for being able to take this opportunity. I'm so thankful that I'm on this journey to simplify and slow down it's not always easy but there are always hidden gems along the way.
The Positives and Negatives of Investing Your Money in gold
"The positives and negatives of investing your money in gold by Robert Farrington of the college investor Dot Com. Do you remember all the hype around gold in the not. So distant past from two thousand, seven to two thousand eleven. The value of an ounce of gold went from about five hundred dollars to eighteen hundred dollars. If you would have purchased gold in two, thousand seven, you would have nearly quadrupled your investment in just five years. Now, that is one heck of an investment. Around this time I also pronounced that you shouldn't buy gold and it received a lot of criticism in more recent years. Gold has settled back down to around thirteen hundred dollars and sometimes slightly less than that. So hopefully, you took my advice, but the question still remains in the back of people's minds. Would it be wise to invest in gold right now? At, its current price gold is worth five hundred dollars less than its previous high. So one would think that an increase in value could be on the horizon. Here's what you really need to know about the pros and cons of investing in gold. Pros of investing in gold. In my opinion, there are three major pros when it comes to gold investment one, it's equality hedge against a down market to it will still have value of paper currency inflates and three. There is an apparent upside to its value versus years. One Gold is a quality hedge against a down market. As we all saw in two thousand seven when the stock market took a dive everyone began putting their faith in gold instead with the higher demand in gold and with a limited supply. The price of gold went up massively within the next couple of years we may witness another steep downmarket, which may again increase the value of gold. Two Gold we'll still have. Value Paper currency inflates. Local currencies constantly fluctuate against foreign currencies. It's the way of the world policies are in place to hold currency steady, but they're not always foolproof once a currency begins to make a downward spiral it can be very difficult to stop severe inflation, which of course, decreases our purchasing power. Is often the more solid option for currency since there's a finite amount of this precious metal if you have gold, then you're likely to hold on to more of your overall worth than someone that is put all of their faith in the banks and paper currency. Three, there is an apparent upside to the value of gold. As I stated before gold was once at eighteen hundred dollars but now rests at value of less than thirteen hundred. If there's a slight blip in our economy that sends fear through the nation, then gold could easily spike back to eighteen hundred mark. It no longer seems far fetched because after all the value has already been there before. Cons of investing in gold. I used to be a huge advocate of gold and silver investing but my opinions on this investment technique have changed largely because of these cons. One Gold has a terrible historical return. If you went back two hundred years and put ten thousand dollars in gold ten, thousand in bonds and ten thousand stocks, which of these investments would come out on top. Well, if you're smart, you would probably not choose gold to be the top investment but the astonishing part about this is how poorly it actually performed versus the stocks and bonds. Here are the values of your investments after two hundred. Years. Old Twenty six thousand dollars bonds eight million dollars stocks five point six, billion dollars. Based on the historical returns gold is a lousy investment. To Gold is worthless if things get really bad. As a pro, we stated that gold is a great hedge against the dollar inflating, which causes us to lose our purchasing power. This is true. But what if the currency becomes absolutely worthless and we all have to resort to trading goods to survive what value is gold at that point? Well, let's see me certainly can't eat gold. So it is of little value for that purpose and you really can't make anything easily out of gold either. So there really isn't any value they're pretty much at this point your gold nuggets in bars are only as valuable as Iraq because he might be able to throw it at something and kill it. Three gold only earns you money when you sell it. The biggest con of investing in gold in my opinion. Oh and Warren Buffett's is that it produces you absolutely nothing when you own it. If you want to grow truly wealthy than you want to buy an asset that produces a passive income while you own it so that you can then by other assets that make you even more wealthy. Warren started doing this as a boy. When he bought a hunk of land, he knew the land would increase in value but the truly great part is investment was that he could earn an income each year from the local farmer that wanted to rent his land after a few years of Rental Income Warren Kundun reinvest his money into even more land and do this over and over again, this method allowed him to buy assets that gained in value, but also gave him income while he owned them.
What Everyone Forgets About Money
"What everyone forgets about money by Crowning Chris. RINING DOT COM. Washing dishes was how I earned my first paycheck when you're fifteen years old and don't get money from your parents to buy things then you have to work. So there. I was scrubbing dishes in the filthy kitchen of a small family owned Italian restaurant, and it's where I learned a little life lesson work is nothing more than trading time for money a medium of exchange. You provide one hour of time to an employer and they provide an hour's wage. I quickly discovered teenagers time isn't worth all that much a measly four, twenty, five per hour. Not long after starting that job I wanted this blind melon album. You might remember their catchy song no rain. One Saturday afternoon wandering the aisles in K. Marts, electronics, department I saw it for sale. Cool. I'm getting it. The price was sixteen, Ninety, eight for whatever reason I did the mental math to figure out the album didn't really cost me seventeen dollars. No, it costs four hours on your feet washing never ending streams of bus tubs overflowing with half finished plates of meat balls is this CD worth four hours of my time. In this case it was but more importantly, you realize the money tucked in your wallet isn't money at all. It's time disguised as money. In fact, it was Benjamin Franklin who said time is money but in our hectic day to day lives, it's easy to forget this. When you spend your money, what you're really doing is spending your time, which means if you waste your money, you waste your time. anyways throw my teens I worked a series of jobs, bagging groceries, stocking merchandise theater concessions, and mostly saved my earnings my time to precious and then I went off to college started a career and forgot what I learned. have. You heard that saying from Texas big hat no cattle meaning you can look rich but be poor. It's hard to believe people who make lots of money are poor. But then your tax preparer tells you they see plenty of families making three hundred thousand dollars and living paycheck to paycheck Thomas Stanley profiles. These folks in the millionaire next door, the doctor lawyer types who drive fancy cars living exclusive neighborhoods and take exotic vacations they look rich, but it's an illusion. It's the families who make one hundred, thousand dollars spent forty thousand and have a million dollars in the bank who are rich. Isn't the worst irony that the simplest way to get rich and have lots of money to spend his by not spending lots of money. But just because it's simple to get rich doesn't mean it's easy spend less than you earn and invest the difference that simple would makes getting rich so difficult is that spending less than you earn takes discipline the median retirement account is worth twenty, five, thousand dollars, and so the problem isn't paying people more money they'll save more give people more money to spend and they'll spend more money. I know this because back in my twenties, I spent just like the next person you think acquiring loss of material possessions satisfying all your superficial desires is the key to happiness. It took me years to relearn what I knew as a teenager. The things you buy with money that you surround yourself with aren't things at all it's your time. And research shows it's having control over your time that makes you happiest not money and things. So, most people have a choice. You can trade time for money and money for things, or you can trade time for money and then use that money as a tool to buy back time. That's why you save and invest, which reminds me of what stoic philosopher Seneca said quote. It's not that we have a short time to live but that we waste much of it life is long enough and it's been given to us in generous measure for accomplishing the greatest things if the whole of it is well invested. But when life is squandered through soft and careless living, and when it spent on no worthwhile pursuit death finally presses and we realized that the life which we didn't notice passing has passed away and quote. What he's saying is when you're about to die, you realize life is time and doesn't that make time your most precious resource. Here think about it like this see, you've worked forty hours per week for the past ten years. You've traded twenty thousand hours of your time. That's forty hours times, fifty weeks, times, ten years, and on the other side of the trade is everything you've consumed sure necessities like food clothing, shelter and healthcare but probably a bunch of other stuff you've totally forgotten about buried in the back of some closet. Was it a fair trade? Maybe it was maybe it wasn't but people are always telling me they've earned million dollars over the past ten years and have nothing to show for it and it makes them sick. They're not complaining about wasting their money. What they're complaining about is wasting their time. Trade wisely.
"optimal finance" Discussed on Optimal Finance Daily
"Guide to personal financial wellness part two by William Johnson with FLEX SENSE DOT COM. . Insurance. . Insurance has two important functions when it comes to financial wellness one insurance protects the wealth and lifestyle that you have worked long and hard to build and to insurance protects your family's future. . If you do not have anyone depending on your income then you might not need life insurance but health auto homeowners and disability are still required or good ideas to make sure that you're protected for an accident or disaster when you have a family that relies on you to keep a roof over their heads and food on the table. . Then Life Insurance is a necessity. . Typically, , people look for enough insurance to cover their debt including student loans and. . Mortgage, , as well as a number of years of living expenses the proceeds of life insurance can be invested, , which can factor into your calculations. . For example, , if your living expenses are thirty thousand dollars a year and you wanted to cover ten years of expenses in the immediate thought is the need three, , hundred thousand dollars in life insurance. . However, , with market growth assumptions, , you can buy a bit less insurance, , invest the payout and get a similar level of income. . When shopping for life, , insurance get recommendations on agents and be sure you understand the difference between whole and term if the agent cannot adequately answer your questions using easy to understand terms about what they're recommending then find an agent can. . Retirement. . Retirement readiness a specific component of financial wellness is being on track to have the money saved to pay for your living expenses in retirement without worrying about running out of money if you live longer than you anticipate. . When talking with someone about their desired retirement age there's one point that I really tried to drive home the day you retire you moving to another phase in your life currently you're earning income. . When you're retired, , you live solely off your investments and social security. . This often gives people pause as their projected retirement income falls far short of what they think. They're . living expenses will be if possible, , wait to retire and start taking your social security, , it'll give you longer to build your nest egg and less time to draw down building retirement savings is something that people do over the many decades of their career but many get started too late or hit a bump and raid their retirement savings to get around it. . It is never too late to start saving for retirement and anything one saves is better than not saving at all. . The two big factors to the amount of savings you'll have when you retire are one contributions and to asset allocation. . The contributions are the amount of money that you have contributed to your retirement accounts up to the point that you start taking money out contributions made earlier in your career are worth more than contributions may later in your career because they've had. . More. Time . to grow the more years, you , wait to retire the more years you can contribute to your retirement accounts. . Asset allocation refers to what you have invested your retirement money into typically that is a mix of stocks and bonds. . When you're younger, , you can take more risk due to the longer time horizon until you retire and will hold more stocks than bonds. . With our a few years until retirement, , you cannot afford a downturn or recession when you need to start drawing on your savings for your living expenses. . Thus you'll be more conservative and hold more bonds than you do stocks the more money you have invested and the longer it's invested, , the more asset allocation affects the outcome. . Estate. . Estate Planning. . Varies widely from person to person with everyone having different needs. . At a basic level, , it's setting up instructions on what should happen to you and your assets upon your death. . If you have children who are minors then establishing who will care for them is the primary concern. . Everyone should have an inventory of all assets, , accounts and passwords. . We recommend using password manager that you can keep in a safe place and that will be accessible to the surviving spouse or the executor of their estate. . All retirement accounts should have a primary beneficiary and a secondary beneficiary you should have a will that covers your assets and living will to ensure that your decisions on your health are respected. . Should you not be able to make them yourself? ? Additionally, , a healthcare proxy should be specified to cover any gray area or new treatment options that are not covered by the leading will. . As wealth grows in size as well as in diversity of assets estate planning becomes more complex and considerations grow. . It is often worth it to consult an attorney and Accountant to walk through your options. . Small steps and forward progress. . Accomplishing financial wellness will take a lot of planning and effort. . It is usually achieved by focusing on a single thing and working to improve it rather than trying to improve everything all at once a series of small winds adds up to a big win. . That will keep you moving forward towards your financial goals and the momentum provided by each small win will keep you motivated getting in a good place with your personal finances and future planning is life changing. . Your efforts are a gift to your future self put in the work today to make sure they are in the best position to be successful. .
Guide To Personal Financial Wellness by William Johnson
"Guide to personal financial wellness part two by William Johnson with FLEX SENSE DOT COM. Insurance. Insurance has two important functions when it comes to financial wellness one insurance protects the wealth and lifestyle that you have worked long and hard to build and to insurance protects your family's future. If you do not have anyone depending on your income then you might not need life insurance but health auto homeowners and disability are still required or good ideas to make sure that you're protected for an accident or disaster when you have a family that relies on you to keep a roof over their heads and food on the table. Then Life Insurance is a necessity. Typically, people look for enough insurance to cover their debt including student loans and. Mortgage, as well as a number of years of living expenses the proceeds of life insurance can be invested, which can factor into your calculations. For example, if your living expenses are thirty thousand dollars a year and you wanted to cover ten years of expenses in the immediate thought is the need three, hundred thousand dollars in life insurance. However, with market growth assumptions, you can buy a bit less insurance, invest the payout and get a similar level of income. When shopping for life, insurance get recommendations on agents and be sure you understand the difference between whole and term if the agent cannot adequately answer your questions using easy to understand terms about what they're recommending then find an agent can. Retirement. Retirement readiness a specific component of financial wellness is being on track to have the money saved to pay for your living expenses in retirement without worrying about running out of money if you live longer than you anticipate. When talking with someone about their desired retirement age there's one point that I really tried to drive home the day you retire you moving to another phase in your life currently you're earning income. When you're retired, you live solely off your investments and social security. This often gives people pause as their projected retirement income falls far short of what they think. They're living expenses will be if possible, wait to retire and start taking your social security, it'll give you longer to build your nest egg and less time to draw down building retirement savings is something that people do over the many decades of their career but many get started too late or hit a bump and raid their retirement savings to get around it. It is never too late to start saving for retirement and anything one saves is better than not saving at all. The two big factors to the amount of savings you'll have when you retire are one contributions and to asset allocation. The contributions are the amount of money that you have contributed to your retirement accounts up to the point that you start taking money out contributions made earlier in your career are worth more than contributions may later in your career because they've had. More. Time to grow the more years, you wait to retire the more years you can contribute to your retirement accounts. Asset allocation refers to what you have invested your retirement money into typically that is a mix of stocks and bonds. When you're younger, you can take more risk due to the longer time horizon until you retire and will hold more stocks than bonds. With our a few years until retirement, you cannot afford a downturn or recession when you need to start drawing on your savings for your living expenses. Thus you'll be more conservative and hold more bonds than you do stocks the more money you have invested and the longer it's invested, the more asset allocation affects the outcome. Estate. Estate Planning. Varies widely from person to person with everyone having different needs. At a basic level, it's setting up instructions on what should happen to you and your assets upon your death. If you have children who are minors then establishing who will care for them is the primary concern. Everyone should have an inventory of all assets, accounts and passwords. We recommend using password manager that you can keep in a safe place and that will be accessible to the surviving spouse or the executor of their estate. All retirement accounts should have a primary beneficiary and a secondary beneficiary you should have a will that covers your assets and living will to ensure that your decisions on your health are respected. Should you not be able to make them yourself? Additionally, a healthcare proxy should be specified to cover any gray area or new treatment options that are not covered by the leading will. As wealth grows in size as well as in diversity of assets estate planning becomes more complex and considerations grow. It is often worth it to consult an attorney and Accountant to walk through your options. Small steps and forward progress. Accomplishing financial wellness will take a lot of planning and effort. It is usually achieved by focusing on a single thing and working to improve it rather than trying to improve everything all at once a series of small winds adds up to a big win. That will keep you moving forward towards your financial goals and the momentum provided by each small win will keep you motivated getting in a good place with your personal finances and future planning is life changing. Your efforts are a gift to your future self put in the work today to make sure they are in the best position to be successful.
3 Valuable Techniques to Help You Develop the Mindset of a Millionaire by John Assaraf
"Three valuable techniques to help you develop the mindset of a millionaire by John Serov of my neuro Jim dot com. Are you finally ready to begin earning the income you want and deserve if you're willing to take action and develop the mindset of a millionaire you're in the right place millionaires no there's an abundance in the universe millionaires know what money is all about the value, their abilities, the value who they are they valued their knowledge they hone their skills and back their ideas with a solid plan. That's why they're millionaires. One understand what money is and your personal relationship with it. Money is a means for fair exchange between those involved with transaction such as trading and investing. So money is nothing more than an idea and ideas are nothing more than electromagnetic energy. What have discovered from the people I. Know Who are millionaires is that they understand the concept of trade they understand what it takes for business success. If they have a product or a service or an idea or knowledge that people want the know that those ten or a hundred or a thousand people will be willing to trade their cash or make electronic. Credit card transfer for what they want and or need money is an idea. But more than that. It's just a means of exchange that we use every day. There are different ways to earn more money but the first thing to think about is, how do I develop a relationship with money that helps me figure out how to use my skills to create wealth. Reflect on this, what product or skills do you have to exchange with others? The people who are making a lot of money today are somehow creating this exchange on a local or international level. You could make money buying real estate and in the transaction of purchasing property from somebody you're helping them you're giving them money for their goods if you fix it up and then sell it again. Then you've done the work of fixing it up and finding another buyer in every area of life whether it's the real estate market, the stock market or your service it's a means of exchange. There's so much money in the world. Right? The question is, are you going to get your share? To. Value Yourself first and foremost. There's a saying that goes we don't see the world as it is. We only see the world as we are. The money results you're experiencing are a mirror of your internal financial blueprint. When you change your internal blueprint financial self image, you transform your outside results and when you value yourself first and foremost you increase your deserving level through a new self worth vibration and resonance. Why do most lottery winners who received millions of dollars lose it so fast, the loss happens because their entire being subconscious and. Conscious mind doesn't place value on the fact that they now have tons of money and a new lifestyle when you have low self esteem and you don't feel you deserve a lot of money, then it's going to disappear quickly. But when you value these things and you feel worthy when your self worth is high, you're going to keep the dough go on vacations you deserve and enjoy your wealth. Even. If you already know how to make more money because you have the knowledge and the skills if you don't value yourself and have the belief that you are worthy then you're going to struggle to achieve your full potential and financial wellbeing either that or you'll achieve success but then sabotage it because the success outside doesn't match what you believe you deserve on the inside make sense. Three hone your skills and make a plan. Because so few people are willing to invest in themselves for one hour a day most people never reach their full potential and it's not because most people don't have the potential it's because they don't have the discipline to practice and hone their skills. If you can imagine just one hour of each day to focus on getting better at what you love to do it would be one of the best uses of your time. There is no such thing as time management the only. Thing you can manage is what you do in time if you can start teaching yourself how to do high impact activities that move you forward and high income activities, then you have a head start on how you create your millionaire mindset. You will get paid in direct proportion to the service and value you bring to the marketplace for which you charge. Remember money is part of a value system and the more you get people to value what you offer the more you will learn. Ask yourself these questions, what must I learn what skills must upgrade what beliefs and habits must develop what beliefs and habits must I release and who can help me achieve this?
Why Pros Can't Beat the Market, but You Can by Chris Reining
"Why pros can't beat the market, but you can buy Chris rining of Chris. rining. Dot Com. A small part of my investment portfolio is an index fund tracking the market, and apparently I'm not alone over the past few years. Trillions of dollars have flowed into index funds as people realize highly paid professional money managers seldom beat the market. Bill. Man after spending eight years running active funds explained why that's a difficult task. Quote Fund, managers are under pressure to be predictable by showing low tracking error, which essentially means funds have to try to beat their benchmarks while tracking their benchmarks closely. Does that remotely make sense? End Quote? To say that another way fund managers become closet indexes. For instance, if they say they're benchmark is the S. and P. Five hundred they need to assemble a portfolio of stocks that closely resembles the S. and P. Five hundred because if they're fund underperforms its benchmark investors pull their money out. And that's the game fund managers are playing to attract and keep the most money because fees are percentage based the fund with ten billion dollars under management rakes in more than the three billion dollar one. But. Here's what took me years to realize saying that professional money managers can't beat the market has. Nothing to do with what you can or can't do please listen to that again. Here's why small-time investors like you and me have an enormous advantage over any professional. One you're a speedboat there a battleship. You're investing small amounts of money, not many hundreds of millions or billions. What do you think happens when a fund manager finds an underpriced stock and starts buying millions worth it causes the price to go up and there goes the advantage. To No one's looking over your shoulder. Fund managers have bosses breathing down their neck making sure they're tracking their benchmarked prevent withdrawals. It's the old nobody ever got fired for investing in IBM, or now Apple Syndrome. It's very hard to get market beating results when you're forced to invest conventionally. Three you didn't study investing. The SMART, people with Mba's who study modern portfolio theory and understand those squiggly lines on technical charts have been conditioned to believe investing can be broken down into some science like engineering or physics. So neat and tidy. nope. It can't markets involve messy people. Anyone can pick stocks trying to beat the market that doesn't mean everyone should stocks take a certain set that outlined before in my blog and it helps to have help which is why I use Motley fool stock advisor. Speaking of them, there's no question there. Stock Picking Methods beats the market because they're picking better than average docs from their website as of today five return up sixty percent S. and P. Five, hundred up thirty seven, percent seventeen year return up three hundred, eighty, two percent S&P Five, hundred up ninety, one percent over the past five years they've eaten the market by twenty, three percent. And so if you're interested in picking stocks, it might be as simple as buying and holding their latest recommendations for years to come sure you'll get some picks wrong and that's okay. The idea is your winners will more than make up for the losers and I know because I've picked some duds but my returns still beat the market. This is similar to how Jeff bezos thanks. Quote we've made doozy's like the fire phone and many other things that just didn't work out. We don't have enough time to list all of our field experiments, but the big winners pay for thousands of field experiments and quote. anyways, one of the most phenomenal small-time investors I know is Saul. Rosenthal. He's been compounding money at thirty percent or so for thirty some years but also works harder at it than anyone. He currently owns nine stocks only his very best ideas and always thinks deeply about them trying to find his blind spots. You might think having your life savings in nine stocks is nuts but I've learned it's better to have a small portfolio where you know a lot about a few companies than some gigantic portfolio were you know little about lots? I've trimmed my portfolio to fifteen stocks and at index fund it feels good of course, running a concentrated portfolio like that takes more work when all your eggs are in one basket, you watch that basket. But if you find the work enjoyable like it's a game for you, the results can be life changing. Does all this make sense I bet you'll always hear things like if professional money managers can't beat the market with their huge budgets and computing resources then neither can you Again just because they can't beat the market has absolutely nothing to do with what you can or can't do value investor monae per Bri. said it best quote investing is a peculiar business. The larger one gets the worst one is likely to do. So this is a field where the individual investor has a huge leg up on the professionals and large investors and quote.
Exclusive: Anchor are automatically deleting podcasters, and why
"Today just a warning and we start with an exclusive the robots are coming free podcast host anchor could automatically delete your account without any warning it happened to experience podcast Jonathan Mendoza an old for uploading a piece of audio that he owns, and as we went to press, we've discovered one reason why if your with anchor it's a must read, you'll find it links from our show notes and our newsletter today. Edison research has published a top thirty US podcasts rancor they call it the only podcast rank of it covers the entire US podcasting industry. It claims to measure shows by reach not downloads. We've published the fullest Joe Rogan's number one of course, apple podcast is a bit broken today. Random shows are appearing in apple podcasts. Category Top shows listing willing to what we're seeing for business comedy technology and society and Culture. Some are in foreign languages, none recognizably talk shows, and it appears that storefronts are affected throughout the world is apparent bug which has been visible at least. The past three days coincides with problems that some podcast is a reporting with apple not updating its website with latest episode for some shows. Trafficking System Google ad manager has announced. It will now handle audio tune in and spotify using. It already says the UK's Matt teagan integration he says is coming for podcast but isn't quite there yet. Other outlets and our reporting on Amazon's podcasting plans and pointing out the clause that says you can't say anything bad about them on your podcast. We reported that on July twenty third in Geekwire reported as a PR mess now just so you know we've submitted news podcast last week we've agreed to those licensing terms because you know the worst that can happen is that we get thrown off calling Amazon at the Amazon and that will be excellent publicity. Don't you think? Yesterday will links to along to threat containing various accusations against PR management, Trauma Black Woman, who's since left the company CEO Kerry Hoffman has responded via an all staff email I do not get things rights plenty of times, and I have a lot to learn. She said outlining a number of steps. The organization will take try and digital have unveiled their Australian podcast rancor for the month of July. A RN'S IHEART podcast network Australia is the number one publisher wants more it measures participating publishers. The ABC the country's largest podcast is still not measured despite having said that joined within months last October spokesperson from the corporation tells pod News. We're working through some technical issues and hope to be able to participate in due course. Now, he's in brief aren't nineteen has expanded its relationships in career podcast technology and AD sales eighty six percent of podcast listeners in Saudi Arabia listen to brand funded podcasts according to a study optimal finance daily looking for. A new paid host. One of the jobs available in jobs today studios seventy one has announced its quarter three, twenty, two, thousand slate of podcasts they say that ad revenue has grown by six hundred ninety percent year-on-year the audio production awards twenty twenty have been announced in the UK. In Amsterdam the podcast festival twenty twenty is planned for September eighteenth to the nineteenth. One of the speakers is me I'll be talking about how to take control of your podcast. and RSS, feed unveiling some unpublished findings about the podcast yourself whether it's a good idea. It's a mainly virtual event with shock some physical parts you can get tickets now and inside radio has published a list of the top ten most powerful people in podcasting connel burn who runs the IHEART podcast network is deservedly awarded the number one slot by the publication's editorial bodes who also work for I heart media.
5 Retirement Mistakes You Might Be Making That Could Be Keeping You From Financial Freedom by Phil Town
"Five retirement mistakes you might be making that could be keeping you from financial freedom by Phil town of rule one investing dot. com. If you want to retire comfortably and many Americans believe they are preparing to do. So in the best way, possible chances are good that you're just not making the returns you need in order to retire when you want to often the obstacles we face have more to do with the mistakes we make when it comes to investing for retirement. The problem is most people have no idea whether or not they are on the right plan towards building their retirement wealth retirement planning can be tricky for. A few reasons. The first reason is that a lot of different factors affect how you plan for retirement. These include things like your salary how much you're saving the investment returns you're getting currently and the benefits you're getting from your retirement account. Another factor is that everyone's actual retirement plan is different. This leaves things very open to varying opinions and options when it comes to what you should do with your money. Generally, retirement planning is about timing and about not losing money, which is rule number one. That brings me to the question of what's the best way to save for retirement. The best way is to learn to invest find companies that you love and understand and buy them when they're on sale when you do that, you're almost guaranteed to not lose money. There is no one-size-fits-all retirement plan for everyone, but there is a place where everyone should start with that in mind. Here are five retirement mistakes to avoid and what to do if you found yourself in a situation where you made any of them. One you haven't saved enough for retirement. Mistake number one is that you haven't saved enough for that. You haven't saved at all when I first started investing I hadn't saved anything, but the money that you invest is going to make you more money than anything else in your whole life. So the earlier you start the better crank down your expenses and crank up the income every dollar you can get into that retirement account now is going to make a huge difference for you down the road. To your borrowing from your retirement money to pay expenses. Mistake number two is that you are borrowing from your retirement money to pay your expenses. You can't do this spend money only on the things you need people often make the mistake of lifestyle creep. This is what happens when you start to make more money and you buy a more expensive car or House with it quit trying to impress people that you don't like anyway if you're spending out of your retirement account, it is crucial that you leave that alone if you spend that money you're going to get penalized by getting. Neither of those things is a good idea. Three you're paying too much interest on bad debt. Mystique number three is you're paying too much interest on bad debt. First of all, you shouldn't be paying very much interest right now interest rates are at historical lows. If you're paying eighteen percent interest than something very bad is happening forget about investing. If you have a lot of credit card debt, the first thing you have to do is get rid of that bad debt. If you could make eighteen percent a year, you're doubling your money every four years you don't WanNa double someone else's money every four years. Another kind of bad debt is when you're borrowing money to buy, you don't need don't be borrowing money to go to the mall that's mall investing, and that's not a great idea save whatever you have to pay down your bad debt as fast as you can. For your becoming inactive physically and socially. This one doesn't have to do with money, but with your well being, it's easy to become inactive physically and socially this will play a big part in your retirement years. You've got to be active physically and you've got to be active socially. For example, there's a retirement community down in Florida called the villages, which has one, hundred, ten, thousand seniors, and what they all have in common is their socially interactive and they're very physically active. They have something like one hundred golf courses down there when I went down there to play Polo, three, thousand people came out to watch and the old wanted to learn about the game staying active and social is so important especially in retirement. Five you're not taking investing seriously enough. Mistake number five is that you're not taking investing seriously enough. This one happens to a lot of people because they just don't think they can do it in our podcast with my daughter Danielle she admits that she doesn't take investing seriously yet. She didn't even want to learn how to invest, but that's all about fear and not knowing where to start think about buying stocks like making any meaningful purchase you do a ton of research before buying a new car or a new house right? You can handle this investing is no different than that. When you take it seriously, it's going to change your life.
Before You Invest, Do This by Derick Van Ness
"Before you invest do this by Derek. Van Ness of big life financial dot com. I don't need to tell you that you're constantly being bombarded by advertisers. Each of them is trying to get you to believe their product service or cause is worthy of your hard earned pennies as they try to influence you. Many advertisers strategically attack your mind's natural tendencies. They tell you that you need to look a certain way. Take particular action or join a particular group in order to be happier and more successful. Most of us, know these images and false promises our garbage, but it doesn't mean that we aren't susceptible to the ideas. Advertisers are putting in our heads I. could talk all day about the false ideas that are being pushed in the media, and how they are making people less happy and more frustrated, but that's a topic for a different day in a different post, however I believe that one of the most harmful ideas being perpetuated in the marketplace today that you need to invest as much of your money as possible, and you need to do it as soon as possible, or you are missing out. Of course the advertisers motivation is for you to invest with them, so they can get paid in have access to your money to make even more prophets for themselves, so they're message serves their interests, but is it truly in your best interest? The short answer is no. Investing has its place, but it should not be the first thing you do when you begin earning money. This is especially important for people who are newly out of school and developing their financial habits. So, what should you do, I? You need to learn to systematically save money because if you can't ever save any money, how will you ever be able to do any meaningful investing? I know that isn't as sexy thing to say, but it is absolutely essential. Having money in a savings account will actually be worth more to you than any other investment you make. How is that possible? It's because having money saved works for you in many unseen ways, and here are three of the most important. One having money saved, gives you peace of mind and confidence. Both of these allow you to sleep better at night. Be a better spouse, parent or friend, and be powerful in your career or business. Your state of mind is your number one asset, because when you are confident and abundant, you are far more effective than when you are operating out of a fearful or scarcity mindset, the importance of mindset cannot be overstated. It is often the difference between a successful business or marriage, and a failed business or divorce caused by financial stress, financial peace and confidence is. Definitely vital. To money in your account helps you save on interest. Savings helps you to avoid taking loans all together, but also allows you to get better interest rates on the loans you do take whether it's having money for a down payment on your car or showing the bank that you have money saved. When you get a mortgage. Having money set aside will help you save on unnecessarily high loan rates. Three most importantly, your savings account will allow you to minimize losses incurred in Difficult Financial Times and maximize your opportunities when they come along. If you have money invested, but no savings, he may be forced to cash out of your investments at the wrong time leading to surrender fees or losses because you needed the money for an emergency. Conversely, a strong savings account will allow you to jump on the right opportunities when they present themselves, note saving money into a 401k or IRA does not have these advantages accessing so-called qualified money can be difficult and almost always comes with penalties or fees. So stopped to consider how much you'll potentially miss out on by having your money tied up until you are fifty nine and a half years old I've seen many people unable to start their own business or capitalize on a great opportunity because they couldn't access their money through the years I've worked with enough people to know that most of us get a few curveballs in life and a few key homerun opportunities being in the financial position to deal with the curve balls without losing everything and the ability. Ability to take advantage of those homerun opportunities can often be the difference between living prosperously and barely getting by so before you rush into investing your money, take the necessary time to build a financial foundation I
Time Is Money? by Chris Guillebeau on Productivity & The Inherent Value of Enjoying Life
"But for now, let's get right to our post for today as we optimize your life. Soon Time is money by Chris Kilo of Chris. Globo DOT com. I came back into Seattle last night after two weeks traveling around the world in the morning, I went up to my local starbucks on forty fifth street in Wallingford, these corporate guys were sitting there, wearing suits and carrying briefcases in Seattle. You don't see people dressed like that as much as you do. In other cities over here. A shirt with a collar is considered dressing up. As they were talking. One of them said well, we should go. Time is money. I looked up from my nearby table. Time is money Have, you heard that one before hold on, we'll come back to it I think about something. Amazon.com has at least two hundred seventy books on time management, but most of them fail to consider basic question. How can someone actually managed time? When you manage people, you give them tax to complete and check in on them once in a while. When you manage a project, you make neat little spreadsheets and break out the getting things done book and Chart Your progress along the way, but with time none of those things apply. You can't tell time what to do. You can't give time a raise when it performs well and fire time when it doesn't meet your expectations. nope, you can't manage time too bad about all those books. Someone should have said something. Before the two hundred seventieth authors started writing. Like it or not time just marches on. More bad news. Unfortunately. There's more bad news about time, sorry. Like money time is limited, but unlike money once time has gone, there's no getting back. You can't earn back. What has been spent? Time is closely related to the concepts of regret, inaction, indecision and wistfulness all those things we left behind some point. Don't you hate that? Time cannot be managed, and when it's gone, it's gone forever, but if you're waiting for good news, you won't be disappointed here it. Is there still enough time for what you need? There's still time to start that business. Take that trip. Start running those two miles that will help you run the marathon six months from now or better yet filling the blank for yourself based on what you've always wanted to do, but if kept putting off for some reason. Ready there is still time for me to blank. Got It if not, you may need more than a few seconds to think about it. It's worth full consideration, even though time is money. Whatever you choose, hold it close to you. Make it your focus and don't let anyone take it from you. Any number of people will try to. Back to starbucks. Gays in the suits have left still thinking about what they said. Time is money. cording to the time is money people I've been wasting a lot of time this year I traveled to Iraq Mongolia Pakistan and twenty other countries, all without an agenda or anything, really important I had to do there I spent an absurd number of hours, standing in line or sitting on park benches, waiting for train or bus stations to open up all over the world I, opted out of the next phase of graduate school, and worked toward building a career as a fulltime writer before that I spent four years working for free in West Africa, so you can probably guess what I think about the link between time and money. No, there's nothing to that idea so much for that right. But wait maybe I've got it partly wrong to. Time is not the same thing as money, but it does have tremendous value I don't WanNa be like the awesome. Andy s that Percy Shelley wrote about quote. Look on my works year mighty and despair nothing beside remains round the decay of that colossal wreck, boundless and bare, the Lone and level sands stretch far away and quote. Nope don't want that. Instead I wanted to treat valuable time with the respect. It deserves I want to do something really great with a valuable time I have how about you? The best strawberry. Oh and by the way research shows that the average user clicks away from blog posts somewhere around the three hundred word point. Since. You've broken the curve and made it further than that. Here's an old story that always makes me smile. The story is about Zen. Student who is running from a tiger in the forest. The tiger is catching up to him and the only way out is to jump over a cliff that leads to certain death on the rocks below. With no real options. The Zen student jumps over. The cliff just manages to grab onto a branch halfway down. Beside the branch is Bush wild strawberries, and the student reaches over with one free hand, and takes one with the tiger above him and certain death on the rocks below him, he slowly enough the strawberry, and as he
What To Do When Stocks Go Down by The Finance Twins
"Twins dot com. If you're wondering what to do, when stocks go down, you're not alone. This is a question. We've started to get asked more and more. The stock market has been dropping and everyone is afraid that the incredible market performance is going to slow down and their 401K's will lose a lot of value. So what should you do with your investments? When stocks go down, the short answer is nothing. Don't change a thing. When the stock market drops, and the prices of your stocks go down. The problem with doing nothing is that it's hard. It goes against our natural instinct and desire to be proactive so that we aren't the last to move. Buy High and sell low is the mantra of investing right. Everyone wants to react when they see their investments lose value. When the stock market drops on the other hand. They want to invest more. When the stock market is shooting up, the problem here is that it's impossible to accurately time the market consistently. Don't be fooled by randomness. The research shows that this emotional desire to try to time the market by trying to buy low and sell high actually hurts investors, according to renowned Princeton economists and CIO of wealth, front the behavior. Behavior gap between the S. and P. Five hundred and the average investor returns may be as large as five percent annually over a twenty year period. What the data shows is that most investors will follow recent returns so when the stock market is going up, more money flows into stocks, but when the stock market drops, money will flow out of the market by reacting to performance. Investors are actually selling low and buying high the opposite of what they're trying to do. Won't I be protecting my investments by selling when they are high before their value drops. The problem with this train of thought is that no one knows when a stock has hit rock bottom or has truly peaked. If you knew exactly when to buy or sell, you'd already be a billionaire and would be on a private jet on the way to Paradise. Right now at least what we'd be doing. In an article by Hoffman at all, it is reported that investor risk tolerance decreased during the worst months of the two thousand eight recession. This highlights the emotional reactions taken by investors and the importance of sticking to your investing strategy. If you felt confident investing ninety percent of your 401k or Roth, IRA in stocks and ten percent in bonds when the market was strong, you should stick to your plan when the stock market drops. If you panic can sell, you will only hurt your investments more. So if my portfolio is losing most of its value, I should sit back and watch it drop without changing anything. For the long term investor, this is the perfect strategy. You want to minimize your emotional impact on your returns. If you are investing for the long term, which is what you should be doing know that your portfolio will recover with the markets. If you sell your investments, you will not have as much in the stock market when the prices pick up and you'll be kicking yourself. According to Dalbar is twenty fifteen report, the average mutual fund investor was outperformed by the S. and P. Five hundred by over three percent in two thousand fifteen. But how can you be outperformed by the S. and P. Five hundred, when you invest in a total stock market index fund that tracks the S. and p. five hundred, the answer is because people buy and sell throughout the year in hopes of timing the market, buying and selling based on what the market is doing prevents you from fully capturing the total market return. When should I invest? Should I wait to invest my money when stocks go down or we go into a recession?
Is it Selfish to Pay Yourself First? by Joel of 5AM Joel
"Am Joel Dot Com. When you hear, pay yourself first. What do you think of? It sounds like something. A rich and greedy person would say. Let's break it down. Pay Equals something money related yourself. I equals something selfish, the complete opposite of what our parents taught us. Okay now let's see what happens. If we include the words in a full sentence. Pay Yourself First, so you can help more people later. Pay Yourself first a little bit, and then pay others allot. Your family will never starve if you pay yourself first. Giving becomes easier when you pay yourself first. doesn't sound so selfish anymore. Maybe the people preaching this are onto something. You may be familiar with to pay yourself first rule for saving money and growing wealth I. I read it in the old book. The richest man in Babylon the book tells a story that makes you rethink your priorities when distributing your hard earned money, most people out there are living on a tight budget. They have their income minus all their expenses and afterward they WANNA save every cent possible with what's left over the problem. Problem is what's leftover. What's left over might be a decent amount, or it might be a little amount, but most of the time it's not very much or nothing at all. Saving might be a priority for people, but for some reason it's usually the very last category to get paid. If saving money is a true priority, you need to treat it as such I drew a quick illustration in this post showing the difference. You may have noticed the pay yourself. First method involves both pre tax and post tax savings. We can chat another time about avoiding Uncle Sam. Paying yourself first insurance. You never skip out on your savings. No matter your income, no matter your age, no matter your debts or loans in life paying yourself first out of every paycheck means you are consistently growing wealth. Time. Pay Yourself first is not always a money related saying is, isn't time supposed to be our most precious asset just like money? Most people have good intentions of saving their time. We constantly learn to be more efficient and create shortcuts wherever possible to gain more free time, but again most people have the what's leftover mentality with their time. Although personal time might sit at priority number one in their brain, it's the lowest paid category each day just by shifting the clock and moving priorities around the person who follows the pay yourself first method. He's never missing out on personal time. The always have spare time. Do you know anyone like this? I know you're probably sick of hearing. My five am stories. You might even argue that you're most productive. Hours are between nine and eleven pm each night. If that's honestly true for you, I'm jealous of your gift. giving. So far, we've covered making sure that you're always paying enough time and money to yourself, and it may still sound a bit too selfish. What about giving to others? It's a common belief that rich people are greedy, and that people with too much time or lazy, but life is taught me the opposite, and so I've developed a theory. When you're in abundance, you usually share more when my wife and I I moved to Los Angeles. We lived on the outskirts of a very fancy
How to Prepare Your Wallet for a Disaster
"How to prepare your wallet for a disaster by Austin with PT, money dot Com. I teach English in western Japan and was here last month to witness first hand the carnage that the to Hokuto earthquake and tsunami had on the northeastern coast of Japan by now many people have seen the devastating footage of the soon nami reaching mainland with whole houses, being ripped from the ground and cars being thrown around like matchboxes. These goods which people had saved up for years were destroyed in minutes. The monetary aftermath of this disaster will be a challenge for Japan for decades to come. If you pay attention to your finances, you know that a disaster like the one in Japan can and will wipe away your finances. All of the saving and investing you've done can be deleted in minutes if you don't prepare for it, so one go about preparing your finances. In case, a catastrophe were to strike. What are the steps you can put in place this week? That would make a huge unexpected financial hit less painful on you and your family. have an ever-growing emergency fund. To help ensure yourself or your family start an emergency fund today using it. Sub Savings account with an online savings account like I N G or ally. Once you open this account, create an automatic monthly transfer of twenty five to two hundred dollars to the account from your regular savings, so it continues to grow every two weeks month or two months. This is money that will only be touched in the worst situations where all of your other money has been wiped out, and you have no other options. Don't be content with five hundred or a thousand dollars in this account. Make it grow every month because it will ensure your financial safety that much more in case, a disaster affects your family in the future remember. It's always a good problem if you have too much money in your emergency, Fund. Insure your big ticket items. Your House and car should already be insured, but consider extra insurance for prized possessions in case of natural disasters, fire theft, etc, maybe you have a fourteen thousand dollar wedding ring or a rare painting from France. That's worth ten thousand. Can you ensure these items for a little bit every month? In case of emergency by spending a little to ensure these high importance items, you'll allow yourself to sleep easily knowing these items can be at least monetarily replaced in a time of need contact your insurance agent today to see about rates for your most valuable high ticket items. Have two to three credit cards with large credit limits. It's been a month since the Japanese tsunami and people are still holed up in shelters in times of need. Having quick access to money is important and something that can provide another level of security is a credit card not having to worry about the amount of cash you have in a time of need is one benefit for those who are credit card, weary need water, clothes, food or
"optimal finance" Discussed on Optimal Finance Daily
"The quick we recommend listening to this show on spotify where you can listen to all of your favorite artists and podcasts in one place for free without a premium account, spotify has a huge catalog of podcasts on every imaginable topic, plus you can follow your favorite podcasts, so you never miss an episode. Premium users can download episodes to listen to off lime, wherever and whenever and easily share what you're listening to with your friends on Instagram, so if you haven't done so all right, be sure to download the spotify. APP search for optimal finance daily on spotify or browse podcasts in the your library. Tab also make sure to follow me, so you never miss an episode of Optimal Finance Daily This is optimal finance. Daily episode eleven eighty, one, the maximum 401k contribution limit what you could have if you Max out every year by Sam of Financial Samurai Dot Com and I'm Dan I'm your host, and this is where I read to you from some of the best blogs on personal finance every single day, including weekends and holidays, and we have five shows where we actually do that sort of narration style podcast, but they all cover different topics you can search for optimal living daily wherever you're hearing this to find all five of our narration style podcasts, so for now let's get right to it as we continue optimizing your life. Served. The maximum for a one K contribution limit what you could have, if you Max out every year by Sam of financial, Samurai dot com. The government has blessed us with the ability to Max out our 401k to nineteen thousand dollars a year in two thousand nineteen up from eighteen, thousand, five, hundred in two thousand eighteen. If you're fifty or older, you can add up to six thousand dollars extra per year from fifty five hundred I always recommend trying to Max out your 401k as fast as you can..
"optimal finance" Discussed on Optimal Finance Daily
"The quick we recommend listening to this show on spotify where you can listen to all of your favorite artists and podcasts in one place for free without a premium account. Spotify has a huge catalog of podcasts. On imagine topic plus you can follow your favorite podcasts. So you never miss an episode. Premium users can download episodes to listen to off lime wherever and whenever and easily share what. You're listening to with your friends on instagram. So if you haven't done so all right be sure to download the spotify APP search for optimal finance daily on spotify or browse podcasts. In the Your Library Tab also make sure to follow me so you never miss an episode of optimal finance daily. It's a minimalist Monday edition of Optimal Finance daily episode. Eleven sixty five to automate or not to automate by April Deichmann with get rich slowly dot org and I'm Dan. I am your host of very happy Monday to you. Hope you're weeks off to a great start. This is the show where I read to you from some of the best personal finance blogs on the planet. And have you heard our other podcasts yet? Because we've got optimal living daily. Which covers minimalism personal development and productivity plus three other shows as well. So if you like today's episode you'll definitely like that show to search for optimal living daily wherever you hearing this show to find it along with the other shows but for now let's get right to today's post as we optimize your life cycle to automate or not to automate by April Deichmann with get rich slowly dot org lately. I've been giving my personal finance systems a lot of thought. What is the best way to track my expenses? I've yet to figure it out. Am I allocating my savings? In the way that makes the most sense. Should I automate more or less right? Now I'm both automated and unintended payments for cellphones. Yoga Studio Membership Net Netflix and charity. For example or automated as our might transfers to savings and saving sub accounts the payments for bills like individual health insurance gas service and car insurance require paper checks for various reasons on meeting sounded smart. But lately I've been wondering if automation isn't making me lazy which might be costing me money an automated world these days. It's you can automate just about anything..
"optimal finance" Discussed on Optimal Finance Daily
"Real quick we recommend listening to this show on spotify where you can listen to all of your favorite artists and podcasts in one place for free without a premium account. Spotify has a huge catalog of podcasts. On the imaginable topic. Plus you can follow your favorite podcasts. So you never miss an episode. Premium users can download episodes to listen to off lime wherever and whenever and easily share what. You're listening to with your friends on instagram. So if you haven't done so already be sure to download the spotify APP search for optimal finance daily on spotify or browse podcasts. In the Your Library Tab also make sure to follow me so you never miss an episode of optimal finance daily. It's a minimalist Monday edition of Optimal Finance daily episode. Eleven O nine simplifying. Your Life requires balancing time and money by John. Starks of simple money pro dot com. And I'm Dan. I'm your host too happy Monday to you. Hope your week is off to a good start and this is of course where I read to you. Each and every day from some of the best personal finance blogs anywhere. And have you heard our other podcasts yet? Because we've got four others just like this one where we read great content to you from authors that week approval from optimal. Living Dailey. Covers minimalism personal development and productivity? So if you like this show you're definitely GonNa like that one too just search for optimal living daily wherever you're hearing this show to find it along with the other shows but for now let's get right to today's post as we optimize your life savings simplifying. Your Life requires balancing time and money by John. Starks of simple money pro dot com..
I Paddled 40 Miles: This Is What I learned About Money
"Paddled forty miles. This is what I learned about money by Nick true of mapped out money dot com this past weekend my wife and I contact forty miles over two days with a group of friends. My wife's cousin plan the trip and he was able to convince US and three others to quote. Push our limits by embarking on this forty mile track considering that I had never been kayaking before and my wife had only been a couple of times. We were honestly quite surprised to even be able to finish with our arms falling off. Obviously a trip like this requires a lot of physical endurance. But what many people don't see. Is that mental? Endurance is often what separates the boys from the men to give another example a few weeks ago. My wife and I were running our first half marathon. I guess we really bought into this whole pushing our limits idea now. Some people run and some people jog but we like to settle in at a pace. We call a shuffle so we set out from the starting line of the half marathon at a not so brisk shuffle feeling a little uncomfortable in the midst of so many people who appeared to be legit runners. You know who I'm talking about. They have the coordinating outfits the waist belts and the shirts with inspirational workout quotes on them. But we were surprised to find was that are shuffled. Pace actually served US pretty well. Many of the people around us who looked so impressive were walking less than a mile into the race. Which brings me to my point when it comes to accomplishing your goals. Much of your success is dependent on your mental endurance and the ability to pace yourself tools. Don't matter your mindset does during both are kayaking trip and are half marathon my wife and I kept a constant rhythm and pace. It really wasn't very fast but it was constant we kept moving. We kept going. It was completely mental. Were retired absolutely. Did my shoulders feel like they were going to fall off near the end? You Bet but that didn't stop moving. And that's what made the difference. It didn't have anything to do with our tools. It was all mental. So many people get hung up on having the fanciest equipment or the coordinated running outfit but often these things actually keep us from reaching our goals. We say well. I can't do this until I'm able to buy that our got more once. I get that gym membership or I'll save more money pay off my dad etc. Once they get a higher paying job but none of these things will help us reach success. In fact they're often just excuses that we use to keep us from taking action today just like kayaking forty miles or running a half marathon. Success in finance and life in general requires that we set a pace for ourselves and focus on the small wins. So stop thinking about the gear that you don't have or how small your paycheck is and start focusing on how you can best use your current resources to push your own limits mindset. Is what matters when it comes to money. Most people think that they just need the right job or the right college degree and then they could make more money or maybe if they could just get the perfect stock investment or find the right home that would go up in value then they would be set when it comes to making more money. Investing wisely saving a lot or paying down debt. Your mental stamina matters more than anything else. You've got to keep going. You can't focus on the tools you don't have that will never get you anywhere instead. Focus on the path forward. Focus on putting one leg in front of the other or in my case one paddle in front of the other managing money. Well and building wealth is much more about your mental toughness than it is about finding the right tools so stop focusing on the wrong thing just like buying a five hundred dollar driver will make you tiger woods focusing on the latest new. Budgeting APP won't make you rich. Keep these lessons in mind when it comes to your money. If you're not happy with your current situation making excuses for it and complaining about not having the right tools isn't going to change anything if you want a better job. You're going to have to work if you want better house. You're going to have to work if you want more money. You're going to have to work. There's no getting around it and making excuses just isn't going to get you there so stop focusing on the wrong things. Stop paying attention to the latest piece of fancy technology or hottest stock on the market and start focusing your mind on the long term goal. Then just keep going. You can do it you really can. All it takes is a little hard work.
"optimal finance" Discussed on Optimal Finance Daily
"The quick we recommend listening to this show on spotify where you can listen to all of your favorite artists and podcasts in one place for free without a premium account. Spotify has a huge catalog of podcasts. On every imaginable topic. Plus you can follow your favorite podcasts. So you never miss an episode. Premium users can download episodes to listen to off lime wherever and whenever and easily share what. You're listening to with your friends on instagram. So if you haven't done so all right be sure to download the spotify APP search for optimal finance daily on spotify or browse podcasts. In the Your Library Tab also make sure to follow me so you never miss an episode of optimal finance daily. It's a minimalist Monday edition of Optimal Finance daily episode. Ten Ninety Five Y. A. Three years spending ban isn't as crazy as it sounds and I deserve a new car right both by Gen of Frugal. Dash MILLENNIAL DOT com. And I am Dan. I'm your host here on the show. Happy Monday to you if you're listening to us in real time and this is where I read to you from some of the very best personal finance blogs on the planet and if you have any topic requests for us anything you'd like to hear me cover on the show please visit old podcast dot com and share those ideas that's O. L. D. PODCAST DOT com. And have you heard our other podcasts? Yet optimal living daily the original show in this network covers minimalism personal development and productivity. So if you like today's episode here you're definitely going to like that show too just search for optimal living daily. Wherever you're hearing this show to find that show along with all of our other podcasts. But for now let's get right to today's two posts from gin as we optimize your life saying why a three year spending ban isn't as crazy as it sounds by gen of frugal. Dash millennial dot com when I tell people I'm on a three year spending ban..
Specific Identification of Shares
"Specific identification of shares by the mad scientist of MAD SCIENTIST DOT COM. A few months ago I wrote a couple of articles about harvesting investment gains and losses for tax purposes in the tax loss harvesting post. I described how it can be beneficial to sell investments for a loss in order to use that loss to reduce your taxable income conversely in the tax gain harvesting article. I showed that in some situations it may be a good idea to sell your investments for gain to increase your cost basis. What I didn't tell you is how to structure your taxable portfolios so that you can easily sell the investments that have depreciated in some years and those who have appreciated in others. Today I will do that cost basis when you buy an investment. The price you bought the investment for is the cost basis note the cost basis can be adjusted for stock splits dividends etc. The cost basis is important because it is used to calculate how much taxes owed when an investment is sold accounting methods. When you sell an investment there are various accounting methods that can be used to determine the cost basis the three types at vanguard offers our average cost. Fifo first in first out and specific identification to illustrate the differences between these various methods. Let's create an example scenario to play around with assume you purchase one hundred shares of investment acts in your taxable portfolio every year for three years in year. One you purchase one hundred shares of the investment for ten dollars per share when you buy the investment again the following year. The price has risen to twenty dollars per share. So you buy one hundred shares at twenty dollars per share. Finally in year three the price has risen again and you purchase one hundred shares of the investment for thirty dollars per share. Let's take a look at what would happen if you decided to sell. Fifty shares using the three different accounting methods average cost the average cost. Method simply. Takes all of your cost basis values and averages them to produce a single cost basis for all of your shares in the example provided the cost basis using the average cost method would be twenty dollars per share. This is a reasonable way of doing things. But what if the price of the investment falls to twenty dollars in year five and you'd like to harvest those losses on the shears you bought in your three with average cost accounting? You wouldn't be able to do that because your average cost basis would be twenty dollars so selling fifty shares of the investment for twenty dollars wouldn't resulting any gains or losses first in first out. Fifo the second method uses the cost basis of the oldest shares in your portfolio. I I e the shares that go in I are the first to come back out so again. In our example scenario you still wouldn't be able to harvest your losses using the Fifo method either because if you sold fifty shares when the price dropped twenty you'd actually create a taxable gain of ten dollars per share because you'd be selling the shares that you bought in year one for ten dollars per share specific identification luckily the final accounting methods specific identification allows us to specify which shares we would like to sell to harvest our losses in year five when the price falls back to twenty dollars. We would simply specify during the sale that we would like to sell the shares that we bought in year three four thirty dollars per share. What if we instead wanted to harvest our gains? When the price was at twenty the specific
"optimal finance" Discussed on Optimal Finance Daily
"Real quick we recommend listening to this show on spotify where you can listen to all of your favorite artists and podcasts in one place for free without a premium account. Spotify has a huge catalog of podcasts. On every imaginable topic. Plus you can follow your favorite podcasts. So you never miss an episode. Premium users can download episodes to listen to off lime wherever and whenever and easily share what. You're listening to with your friends on instagram. So if you haven't done so already be sure to download the spotify APP search for optimal finance daily on spotify or browse podcasts. In the Your Library Tab also make sure to follow me so you never miss an episode of optimal finance daily. It's a minimalist Monday edition of Optimal Finance daily episode. Ten seventy four. What a four-year-old taught me about dreams and money by Nick true of mapped out money dot com and I am Dan. I'm your host here at optimal finance daily. Hope you're having a very happy Monday as we start the work week. This is where I read to you from some of the very best personal finance blogs on the planet and this is not the only show where we read great blog content to you and put it into audio form. We have other podcasts. As well optimal Living Dailey covers minimalism personal development and productivity for instance. So if you like today's episode here you'll definitely like that show too just search for optimal living daily wherever you're hearing this show to find it along with the other shows but for now let's get to today's post as we optimize your life search woulda four-year-old taught me about dreams and money by Nick true of mapped out. Money DOT COM..
"optimal finance" Discussed on Optimal Finance Daily
"Comparison by Allah al of FA CONFESSIONS DOT Com. I often wonder why money is such. A secretive topic will tell strangers about our house closer vacations since we constantly post are highlight reel on social media but universe forbid if the topic of money comes up we go silent. It's almost like a game of show me what you have have before. I'll tell you what I have even as a financial adviser. It's a very delicate topic to approach my standard explanation is. I'm going to need to ask some personal questions. It's not because I'm nosy. But because I need you to understand your current situation in order to make appropriate recommendations for you this typically works like a charm. You wouldn't believe some of what I hear. People will open up about money. Family divorce children drug addictions even bowel movements. It's like they've been waiting for a safe space to unload load about all the perceived taboo topics. What I've found is that underlying our refusal to discuss money is comparison in the rare occasions? I've shared my own own income with friends. It creates an image or perception. Either they feel bad because their income is lower or I start to feel worse because their income is higher than mine. It often changes the relationship dynamic and usually not for the better. You just start to look at the person a little differently for better or for worse it invites judgment based solely on money in programs such as alcoholics anonymous. It's a level playing field. Anyone from the CEO level to a homeless person has the same addiction which invites bonding being over their shared experiences. Regardless of other differences money seems to paint a picture in our minds of a person's worth or status we assume a CEO is more disciplined Oakland smart and mentally stronger than average right. Not necessarily the ability to accumulate. Wealth is not an indicator of anyone's character confidence or happiness. Often outward success can be a cover for deep feelings of inadequacy the image of having it all together and projecting to the world that you're superhuman is a mirage that that very image creates new standards to maintain the image of success creates stress striving and turmoil. It reminds me of a friend's explanation as to why they bought a fancy sports car quote. You don't understand how people see me when I'm driving this car and quote as though the car represents who they are as a person instead of being the vehicle getting them from place to place when we use money as the ultimate measuring stick of self worth comparison negates all other aspects of a human being it can also bring up deep feelings feelings of shame and insecurity. Comparison is truly the thief of joy. How joyful would it be to have a billion dollars if you're the only person left on Earth your bank account? We'll never be able to provide companionship connection and meaningful life experience. There's a study showing that people are more satisfied making fifty thousand dollars a year when neighbors are making forty forty thousand then people earning one hundred thousand a year while neighbors make one hundred fifty K.. Sit with that for a minute as income increases satisfaction decreases simply really based on comparison. It reminds me of if you WANNA look thin. You hang out with fat people from the movie back to school. I've bought into the myth that happiness can be obtained by external success as I've learned and grown. I've realized that true success never arrives. From outside circumstances it most often arrives from having a content and joyful awful experience moment by moment the opposite of what our culture would have us believe. Comparison is so easy to fall into but being aware of our tendency to do. It can help whether it's related to money. Appearance Intelligence or charisma we can catch ourselves comparing how we measure up. I find it helpful to label it and remind myself I'm caught up in comparing comparing just that awareness helps pull me out of the rabbit hole. Comparison is a gateway to feeling inadequate. And I'd rather stay far from it Sir And a real quick thanks to anchor for hosting this podcast. Anchor is the easiest way to make a podcast. They'll distribute your podcast for you. So it can be heard everywhere spotify apple podcast Google podcasts. And many more you can easily make money from your podcast to with no no minimum listenership anchor gives you everything you need in one place for free which you can use right from your phone or computer creation tools. Allow you to record and edit your podcast so it sounds great. Download the anchor APP or go to anchor DOT FM to get started the danger of success by Al of FA CONFESSIONS DOT COM. It might seem logical that consistent losses would be the worst experience for a gambler in reality. The opposite is true. Consistent winds are more dangerous repeated successes at gambling reinforce the belief that I'm smart and savvy along with the sense that future feature winds are inevitable. The dangers in believing results are based on bad luck. When you're losing and inherent skill when you're winning I want to be very careful and comparing gambling with investing for our purposes short term investing is similar to gambling and long term investing is like being the casino humility and a keen awareness that anything can happen happen in the short term is a rare quality even for many skilled investors knowing that the short term is volatile and unpredictable is something people like Warren Buffett Embody Investors Astor's like buffet are waiting for the masses to panic in order to seize the opportunity when everyone else is selling their buying? The also know that investing is a long term game and patients. Patients is part of the process. It's easy to convince ourselves that our success is always a result of our effort and intelligence while our failures are simply due to circumstances beyond under control. The EGO is a master of deception. And it's so tempting to buy into such myths to take credit for wins while leaving losses as a twist of fate to believe leave. We're far more savvy wise or skilled than we are based on short term metrics. Even for me I still get surprised at the sugar. High that follows financial success whether whether it's a big new client or a stock performing well in the short term a fast rush of feeling great inevitably leads to feelings of dissatisfaction. There's a sense of looking for for the next win or success to bring back. The fleeting experience of feeling good short term successes have become much less satisfying over the years. Maybe I just have a pretty moderate temperament compared to people. I know who seem to fly really high on success and then sink toward depression in the midst of financial challenges that extreme rollercoaster ride just feels exhausting Austin to me so much comes down to how we define success for ourselves when our definition relies on things we can't control were doomed if we only feel successful fool when we have more money or accolades or achievement will never be satisfied if we instead choose to realize that the feeling of success is a momentary experience. We can stop putting so much emphasis on expecting it to last. Ultimately success is a subjective experience. That's unique to each of us. Sir Sir you just listened to the posts titled Comparison and the danger of success. Both by owl of FA CONFESSIONS DOT DOT COM. And that'll do it for this edition of Optimal Finance daily as always thanks so much for listening and subscribing and hope you have a great rest of your day. I'll see you back here tomorrow. We're we're your optimal life awaits. Hello life off the miser. This is Justin Creator and producer of this podcast but also optimal living daily the show where I read to you from even more blogs covering finance productivity minimalism personal development and more from incredible bloggers like Derek Servers. Zen Habits Mark Angel The minimalists. And all the ones you here on this show too so if you enjoyed today's episode an like taking amazing blogs on the go come run over to optimal living daily and subscribe to that one too and together. We'll start optimizing your life. You've you've been listening to optimal living daily. Be sure to hit the subscribe button to stay up to date on each new episode and head to old PODCAST DOT COM that's O. L. D. PODCAST DOT COM for a free gift as well as more actionable tips and resources to help you maximize your potential. Thanks for joining us. And remember your optimal we'll life awaits..
"optimal finance" Discussed on Optimal Finance Daily
"The quick we recommend listening to this. Show on spotify where you can listen to all of your favorite artists and podcasts in one place for free without a premium account. spotify has a huge huge catalog of podcasts. On every imaginable topic. Plus you can follow your favorite podcasts. So you never miss an episode. Premium users can download episodes to listen to off off lime wherever and whenever and easily share what. You're listening to with your friends on instagram. So if you haven't done so already be sure to download the spotify APP search for optimal finance finance daily on spotify or browse podcasts. In the Your Library Tab also make sure to follow me so you never miss an episode of optimal finance daily. It's a minimalist Monday edition of Optimal Finance daily episode. Ten sixty seven ten little ways to become more generous by Joshua Becker of becoming minimalist dot com. And I'm Dan. I'm your host to very happy Monday to you. And this is where I read to you from some of the very best personal finance blogs anywhere. And if you heard our other podcasts yet because there's also optimal living daily our original show in this network. which covers minimalism personal development and productivity? And you'll find and lots of posts there from today's author here Joshua Becker so if you like today's episode you'll definitely like that show too just search for optimal living daily. Wherever you're hearing this is to find it along with our other shows but for now let's get right to today's post as we optimize your life ten little ways to become more generous by Joshua Becker of becoming minimalist dot com quote?.
"optimal finance" Discussed on Optimal Finance Daily
"The quick we recommend listening to this. Show on spotify where you can listen to all of your favorite artists and podcasts in one place for free without a premium account. spotify has a huge huge catalog of podcasts. On every imaginable topic. Plus you can follow your favorite podcasts. So you never miss an episode. Premium users can download episodes to listen to off off lime wherever and whenever and easily share what. You're listening to with your friends on instagram. So if you haven't done so already be sure to download the spotify APP search for optimal finance finance daily on spotify or browse podcasts. In the Your Library Tab also make sure to follow me so you never miss an episode of optimal finance daily. It's a minimalist Monday. Edition of Optimal Finance Daily episode. Ten sixty could this be the real thing. That's keeping you from saving more money by Kelly long with financial finesse DOT COM and. I'm Dan Happy Monday to you. I'm your host here at optimal financed daily. And I hope your week is off to a good start. This is where I read to you from some of the best personal finance blogs on the planet. And do that seven days a week including weekends and holidays. So have you heard other podcasts yet. Because optimal living daily is a lot like this show but it covers minimalism personal development and productivity. So if you like what you hear on optimal finance daily you'll definitely like that one too just search for optimal living in daily wherever you're hearing this show to find it along with our other shows but for now let's get right to today's post as we optimize your life search it. Could this be the real thing. That's keeping you from saving more money by Kelly long with financial. Ns Dot Com seen pet store just before Halloween..
Yes, You Need A Credit Report AND A Credit Score To Rent An Apartment!
"When I hosted my open house for one of my rentals last fall. The demand was overwhelming over. Fifty parties showed up and by the end end of the day. I had twenty applications on dining table each application contained at least one bank statement and earnings statement a letter of reference sometimes a resume and of course their our latest credit score. My asking price was three thousand three hundred dollars. which in retrospect was probably two hundred a month to low given the amount of demand I received I felt too to guilty raising the price after the advertisement so I let it be hoping someone would offer more instead I was offered free meals and back massages instead? Curiously enough the good thing about so much demand is that got to be more picky because nothing is worse than having a problem. Tenant who always complains makes a lot of noise and is always late on rent. Thank goodness goodness. I haven't had one of these types of problem tenants yet and I don't ever plan to have one. If I maintain a disciplined approach to screening with so many applications on the very first day guess switch document. I looked at first to screen the credit score report. Of course you need an actual credit score to be considered about seven of the twenty applicants and had a credit report no actual credit score. I was flummoxed wondering whether the report was missing a page it turns out that the applicants used a service that provides. It's one credit history important for fraud and false reports but no actual score by which to judge. Thanks to the comments on the post who should check their credit scores. I finally realized what these reports were. At the time I thought providing a credit report with no credit score was very fishy and frankly annoying as a result. I put those seven applicants against in the bottom group. Don't they want to know what their credit score is. At least I kept thinking to myself. I then separated the rest of the applications between those who had over a seven twenty credit. It'd score good enough for me and those who did not. The Best Group contained nine applicants all with credit scores above seven twenty the Middle Group for applicants with credit scores between between six eight thousand seven nineteen and the bottom group had seven applicants with good incomes but no credit scores just reports after spending several minutes sorting out. The applications is by credit score. I then looked at income assets occupation and any letters of references from the best group I with nine applications in the best group with credit scores over seven seven twenty the other eleven applications really had little chance unfortunately landlord's perspective if there are nine applicants with seven sixty credit scores eighty eighty thousand dollars in liquid assets who will make over one hundred and fifty thousand dollars in income. Why would anybody choose? Another applicant with six eighty credit score with the same income and assets. Sure the applicant with a six eighty credit. Score might be really thoughtful and Nice but so were the other applicants. You can't risk going with a lower credit score applicant. Unless that's all you've got one of the applicants was a third-year cardiologists. Who made three hundred? Twenty thousand a year. Unfortunately he only had a six seventy five credit score because he whiffed on his medical school payments. No thank you buddy. I don't care how much you make. If you don't pay your bills. The credit score is a window into one's just like how employers screen the first cut of applicants based based on grades landlords. Do the same with credit scores if you're one of those job applicants who purposefully omits their GPA on a resume like the seven applicants who included a report right but had no score. You're going to be
"optimal finance" Discussed on Optimal Finance Daily
"The quick we recommend listening to this. Show on spotify where you can listen to all of your favorite artists and podcasts in one place for free without a premium account. spotify has a huge huge catalog of podcasts. On every imaginable topic. Plus you can follow your favorite podcasts. So you never miss an episode. Premium users can download episodes to listen to off off lime wherever and whenever and easily share what. You're listening to with your friends on instagram. So if you haven't done so already be sure to download the spotify APP search for optimal finance finance daily on spotify or browse podcasts. In the Your Library Tab also make sure to follow me so you never miss an episode of optimal finance daily. It's a minimalist Monday edition of Optimal Finance daily episode. Ten twenty five frugal versus minimal by Claire of want less dot. Co Dot UK and. I'm Dan I'm your host and welcome back to optimal finance daily where I read to you from some of the best personal finance blogs on the planet. And don't forget that you can listen to a lot ought more blogs being narrated to you for free just search for optimal living daily to find all of our other shows. Now I've got a brand new author for you on the show today. I'll tell you more about claire after the article so for now. Let's hear our very first post from her as we optimize your life. Frugal verses says minimal by Claire of want less dot. Co Dot UK. Frugality and minimalism. Go Hand in hand right wrong. Sure both will teach you valuable lessons. That spending your cash on material possessions will not make you happy both will help you get out of debt and live within your means and both will help you justify justify it to yourself when you re gift necklace. He never liked but for those trying to be frugal and minimalist. There are a heap of scenarios. Where the two simply clash minimalist? You is whispering in one ear and frugal you in the other. Here are seven frugal versus minimalist. conundrums I've personally wrestled with one bulk bulk. Buying it's one of those simple rules of shopping. You buy more you pay less..
3 Spending Habits That Are Setting You up for Failure by Kumiko of The Budget Mom on How To Be Mindful with Money
"Three spending habits that are setting you up for failure by Camillo of the budget. Mom Dot Com. There's always a reason why we save too little and have too much debt. People lose their jobs. The economy takes nosedive and getting a raise is almost impossible. Aw what people don't realize is that we are often our own worst enemy. When it comes to our financial circumstances everyone is guilty of the occasional spending slip up and sometimes it's hard to recognize that it's happening more than we'd like to admit here are three spending habits that will not only kill your budget but will also set you up to fail financially one spending money. Because you are bored. I like to call this Zombie spending most of the time. You don't even realize you're doing it. It's so easy to head to the mall. Go out to eat or spend and some time browsing your favorite online store where you almost always get sucked into buying things you don't need. Everything becomes a distraction to fill our time. When we don't have anything better to do. Believe me I know Zombie shopping all too well. One of the biggest challenges I faced was online shopping. It's so easy to be laying in bed checking your facebook and get scammed into checking the email you just received from your favorite online store with a message. Flash sale everything thirty percent off the result. Is You end up having ten things delivered to your front door that you don't need and a huge credit card bill to match the number one thing that helped me kick the Zombie. Shopping habit was to unsubscribe from all the stores emails. The easiest thing you can do who is to stop the temptation sites like groupon and apps like Bata are great but not if they are making you spend money. You don't have look for other ways to distract yourself. Try Try picking up a new hobby that you can do from home or join a book club after discovering my love for hiking. I feel more rewarded from day of exploring the outdoors than I did from spending out of Habit Abbott to spending money. You don't have this. Spending habit comes in many different forms. Your tax return an unexpected bonus or raise or even self employment employment income can all fall into the category of money that you might not have these. Things are not guaranteed income yet. People depend on them. People already plan out what they're going to spend this money beyond without knowing if they will actually receive it. Have you ever thought to yourself. I will use my tax refund to buy that. This is the perfect example of spending money. You don't have. Maybe maybe you put the purchase on your credit card thinking you've paid off with your tax return only to find out that you actually owed the irs. Now you have a credit card balance with no way of paying it off the same is true with work bonuses. The best thing you can do is not think of this. Money has guaranteed income. You should also never include work bonuses or an estimated tax refund in in your budget that way if you never receive it you are not so deep in debt hole that you can't climb out of it instead if and when you receive this type of money use it to reach your financial goals of paying off debt or increasing. Your savings credit card debt is another great example of spending money. You don't have the most appealing thing about credit. Cards is the ability to pay later for items items that you can receive now. The biggest mistake is using credit to purchase ordinary things like gas or groceries. You can't rely on credit cards if you don't have them with you. Oh I went almost a full year without any credit cards in my wallet. It's okay to have a credit card but it's not okay to have a credit card that you are constantly using because you don't have the cash to pay for things rely only on your income and never spend more money than you make if you decide to use your credit card to make a purchase. Make sure you can pay it off in full every month month to avoid interest and three spending to impress quote. We spend money that we do not have on things. We do not need to impress. People who do not care will Smith. It's easy not to care about impressing people whose opinions you don't care about but it seems like life or death when you want to impress someone who you do care about. Maybe it's a friend someone you WANNA meet a CO worker or family. Whoever it might be. Let me be the one to tell you that spending money. You don't have to impress someone. Someone is not worth it. The funniest thing about these situations is that the person you want to impress his probably so busy trying to impress you that they don't even notice all all the things you bought to impress them. A generous heart kindness. Hard Work Dedication and true intentions are far more likely to impress someone than possessions. Focus focus on who you really are and you won't have to spend a dime to impress someone. Stop comparing yourself to others and learn to appreciate what you already have
"optimal finance" Discussed on Optimal Finance Daily
"Real quick we recommend listening to this. Show on spotify where you can listen to all of your favorite artists and podcasts in one place for free without a premium account. spotify has a huge huge catalog of podcasts. On every imaginable topic. Plus you can follow your favorite podcasts. So you never miss an episode. Premium users can download episodes to listen to off off lime wherever and whenever and easily share what. You're listening to with your friends on instagram. So if you haven't done so already be sure to download the spotify APP search for optimal finance finance daily on spotify or browse podcasts. In the Your Library Tab also make sure to follow me so you never miss an episode of optimal finance daily. It's a minimalist Monday. Edition of Optimal Finance Daily episode. One Thousand Four Financial Independence Wanna one and the race to F. I.. Booth by AL OF FA CONFESSIONS DOT COM. And I'm Dan. I'm your host and welcome to a brand new week here at optimal finance daily. This is where I read to you from some of the best personal finance blogs on the planet. Today I have a new author and website to share with you. The site is FA CONFESSIONS DOT COM and Al.. The author is a financial adviser and on his site he talks about the emotional and psychological aspects of money and how that contradicts much of the conventional financial independence community. Now he's got a bunch of helpful articles on his sites. You can check those out at F.. A. Confessions Dot Com and with Atlas here to posts from him as we start optimizing your life life financial independence one. Oh one bio of EPA CONFESSIONS DOT COM. These are some basic principles or an intro to financial independence guide. A useful analogy is to think of financial independence as a building but before the building building can be constructed. The Lot and foundation must be prepared. The Lot you'll build your financial independence building upon is vacant. You're negative debt is a hole in the ground that you'll need need to fill so that you have a flat. Surface to build upon negative debt is anything other than mortgages on a primary residence and cash flow investment properties. Step one and pay off all negative debt all debt other than the mortgage is mentioned a moment ago step to spend less than you earn and invest the difference. It really is as simple. Oh as living by this one premise. And eventually you will be financially independent. Step three consider how fast you want to reach a fully constructed financial independence building a a higher savings rate and investment. Return will decrease the construction time on your building step four automate all savings and investments. Set it up once and let it auto auto deduct each month. These automated investments can include a 401k through your job savings deposits from a checking account and any extra principal payments on a mortgage. The simple basic steps will set you on your way to financial independence. It doesn't matter. What amounts you start with? Just start with these simple steps. We can always increase amounts later. The key step is to get started. I've never heard anyone regret that. They save too much money. One non-negotiable commitment if you decide to invest invest in the stock market. You must one hundred percent commit to never selling never disappoint cannot be stressed enough. There are only two reasons to sell investment account terminal. Ermanno illness and death sound tents but it's a critical factor this non-negotiable commitment forms the foundation that supports the four steps. I just mentioned without this foundation on Dacian. Any attempted financial independence building will eventually crumble and fall selling an investment due to a drop in the market. A job. Loss a car repair or any other so-called emergency removes you from the path to financial independence from what I've seen over the years once you're off the path you're not likely to get back on it. Think about selling As a recovering heroin addict justifying taking a hit after having been clean for a while it could end up being fatal at the very least. It's a slippery slope you make one withdrawal for for an emergency and it suddenly easier to withdraw for future emergencies this ironclad commitment to remain. Invested is non-negotiable. It's what allows the other simple simple steps to work. I've seen it over and over again with friends. Family and clients who don't fully make this commitment. Once you sell your financial independence building stops growing and Starts to crumble start with the foundation of committing to staying invested payoff negative debt. Spend less than you earn invest the difference and never sill. You've heard all the other advice on cutting expenses living within your means etc.. Enjoy your life. This is just a framework and it really. Is that simple Sam and a real quick thanks to anchor for hosting this podcast. Anchor is the easiest way to make a podcast. They'll distribute your podcast for you. So it can be heard everywhere spotify apple podcast Google podcasts. And many more you can easily make money from your podcast to with no minimum listenership anchor gives you everything you need in one place for free which you can use right from your phone or computer creation tools. Allow you to record and edit your podcast so it sounds great. Download the anchor APP or go to anchor dot. FM.
"optimal finance" Discussed on Optimal Finance Daily
"Real quick we recommend listening to this. Show on spotify where you can listen to all of your favorite artists and podcasts in one place for free without a premium account. spotify has a huge huge catalog of podcasts. On every imaginable topic. Plus you can follow your favorite podcasts. So you never miss an episode. Premium users can download episodes to listen to off off lime wherever and whenever and easily share what. You're listening to with your friends on instagram. So if you haven't done so already be sure to download the spotify APP search for optimal finance finance daily on spotify or browse podcasts. In the Your Library Tab also make sure to follow me so you never miss an episode of optimal finance daily. This is optimal finance daily episode. One thousand optimal living advice by Greg Audino with old podcast dot com and and I am your host and narrator of the show. My name is Dan and welcome to this one thousand episode of Optimal Finance Daily. And thank you so much for helping us to reach this huge milestone milestone. Now this is where. I typically narrate an article for you every single day of the week on personal finance but today's special episode of course with it being the one thousand and and we've got a new podcast actually called optimal living advice. That answers your life questions and we thought that today we would share an episode with you right here. You can find and subscribe ascribed to the show by searching for optimal living advice in the PODCAST APP of your choice or wherever. You're listening to this so please check that out and you can also actually send in your own questions is to be answered on the show. The host of Optima living advice is Greg Audino. He is a certified life coach and actor. And if you send in a question to that show and it's answered we we'll send you a book from our collection. Whichever one you choose so definitely do that search and subscribed optimal living advice to show your support and here is a question and answer from the show as we optimize your life? How would you advise someone who feels? They are at a personal crossroads crossroads between staying in their car location to enjoy their newly improved health and work on some wellness goals versus using bandwidth looking for opportunities in their desired. Next next place to live..
"optimal finance" Discussed on Optimal Finance Daily
"Real quick we recommend listening to this show on spotify where you can listen to all of your favorite artists and podcasts in one place for free without a premium account spotify has Huge catalog of podcasts on every imaginable topic plus you can follow your favorite podcasts so you never miss an episode premium users can download episodes to listen to Finance daily on spotify or browse podcasts in the Your Library Tab also make sure to follow me so you never miss an episode of Optimal Finance Daily this is optimal finance daily episode nine fifty four is inflation stealing your money the effects of inflation on your retirement by Phil town of rule one investing dot com and I'm Dan I'm your host and welcome to a weekend edition of Optimal Finance Daily where I read to you from some of the best personal finance logs on the planet and I do hope you're enjoying these news Saturday and Sunday editions even if you're only listening Monday through Friday this does give you a little bit of bonus content to make your way through during the workweek also have subscribed to our other foreign aeration podcasts we cover personal development and minimalism health business and relationships on those other four shows you can just search for optimal living daily wherever you're hearing this to find all four but for now let's get right to today's post as we optimize your life he's inflation stealing your money the effects of inflation on your retirement by Phil town of Rules one investing dot com inflation.
"optimal finance" Discussed on Optimal Finance Daily
"This is optimal finance daily episode nine. Oh one want to be a better investor. Stop staring at your portfolio by vitale cats and nelson of contrarian very unedu- dot com and i'm dan. I'm your host here on optimal finance daily where i read to you from some of the best personal finance blogs anywhere and this episode is brought to you by net sweet look the truth is if you don't know your numbers you don't know your business with net sweet you save time money and unneeded headaches by managing sales sales finance and accounting orders and h._r. Instantly right from your desktop or phone and right now net suite is offering valuable insights with a free guide seven in key strategies to grow your profits at net sweet dot com slash o f t that's net sweet dot com slash o f t to download your free guide seven seven key strategies to grow your profits net sweet dot com slash lefty for now. Let's get right to it and start optimizing. Your life want to be a better investor. Stop staring at your portfolio by batali cats and elson of contrarian edge dot com investors are prone to two opposing but equally debilitating fears the fear of missing out when times are good and the fear of loss loss when markets are volatile. These two years have a zero sum relationship with rational decisions. The more you are dominated by these fears the less rational you are so what can we do as investors to move toward maximum rationality. Here's one.
"optimal finance" Discussed on Optimal Finance Daily
"This is optimal finance daily episodes four seventy nine how to invest in speculative investments like bitcoin without losing your shirt part one by sama financial sammarai dot com and i am dan your host happy thursday in thank you as always for being here this is where i read to you from some of the best personal finance blogs on the planet and a big thank you to four sigmatic for sponsoring today's episode now four sigmatic makes drinking mushrooms in superfoods delicious and easy to do with their mushroom coffees mushroom superfood lands and mushroom electors get 15 percent off with our special code finance and visit four sigmatic dot com slash finance that's f o u r s i g m a t i see dot com slash finance today's post is a little bit longer and as i like to do for you i'm going to break that up into two parts so we'll hear the first half today and then the rest tomorrow and just a heads up it does get a little bit technical and if it's overwhelming for you stick with it because if he does a good job of boiling it down to the basics so let's keep this intro nice in short for you and get right to it as we optimize your life sms how to invest in speculative investments like bitcoin without losing your shirt part one by sama financial sammarai dot com in late 1999 i had my bitcoin moment i was a 22yearold first year analysts working on the international trading floor at a major investment bank the internet boom was peeking and i just got my urine stubbornness of twenty thousand dollars although the twenty thousand magically turned into 12000 after paying new york city taxes for the first time in my life i no longer felt poor i.
"optimal finance" Discussed on Optimal Finance Daily
"It's a minimalist monday addition of optimal finance daily episode four seventy one a guide to escaping materialism and finding happiness by leo about a abs in habits dot net and i'm your host emirates dan i'm here each week day reading to you from some of the best personal finance blogs on the planet and today's post comes to you from zan habits dot net it is a minimalist monday post and for a lot more on the subject of minimalism and as an habits blog you can also check out optimal living daily but for now let's get right to our post as we optimize your life a guide to escaping materialism and finding happiness by lee oba about a abs inhabits dot net quote happiness is having a large loving caring closeknit family in another city george burns money can't buy you love it can't buy you happiness either today's materialistic world often urges us to buy the coolest gadgets the trendiest closed bigger and better things but research shows that possessions and purchases don't buy as happiness according to an article on cnn quote by and large money buys happiness only for those who lack the basic needs once you pass an income of fifty thousand dollars more money doesn't by much more happiness and quote so while we are being pushed towards materialism it's for monetary gain by corporations not for our own happiness unfortunately it's hard to escape the trap of materialism and find happiness in other ways than buying stuff online or finding joy in the mall but it is possible here's a guide to finding a materialism free life and discovering true happiness.
"optimal finance" Discussed on Optimal Finance Daily
"It's a minimalist monday edition of optimal finance daily episode four sixty one the appeal of generosity by joshua becker of becoming minimalistcom and i'm dan your host dan a happy first full week of december two you hard to believe that were this close to the end of 2017 and at today's minimalism post comes from joshua becker but before we get into it i want to ask you if you have subscribed to our other for podcasts we actually nary blogs covering pretty much everything you can just search for optimal living daily wherever you're hearing this show to find them but for now let's get right to today's post as we optimize your life the appeal of generosity by joshua becker of becoming minimalistcom generosity is a mark of bravery sitting bull i have a good friend name mark a bit older than me he has three daughters the youngest is nine not long ago over a warm cup of coffee in a muffin mark shared with me the story of how their family had just bought a new puppy marks youngest daughter has always been good about saving money whenever she'd received money from a birthday christmas or a weekly allowance she put it away in her piggy bank the bills and the coins began to pile up and after years of faithful saving she had two hundred dollars in her little pink bank this was until she decided she wanted a dog mark and his wife were not against the idea of owning a family dog they both had dogs growing up and when their daughter noticed a handmade flyer at their local coffee shop posted by a former looking for loving homes for his new puppies everything seemed to be lining up perfectly on a beautiful sunny saturday afternoon the drove the entire family out to the farm to get a first hand look at the new puppies and meet the parents upon arrival it didn't take long to notice the small farmhouse and recognize.