As we begin this journey – and yes, it is a journey – we ask the question: Is it possible to develop an investment plan to achieve financial independence? The immediate answer is yes, it is possible. In this article, we shall explore the necessary steps to make it a reality. What is Financial Independence? How do you define financial independence? Is it having all the money you need or want? Or is it something else? Does money have anything to do with it? How about doing anything you … [Read more...] about How to Create a Personal Investment Plan for Financial Independence
finances
Nine Strategies for a Debt-Free Life
A debt-free life, what would that be like and how do you achieve it? Living debt-free is a life that is stress-free. A stress-free life is something that you can become comfortable with. Once you achieve such a goal, you will never go back. Detailed below is how you can achieve a debt-free life. LIVE ON LESS THAN YOU MAKE This tip sounds simple, but it is not for many people. Most want to keep up with the Joneses. Trust me, the Joneses are not having fun. They are actually broke! If … [Read more...] about Nine Strategies for a Debt-Free Life
1.1 Million Paycheck Protection Program Loans Forgiven So Far Totaling Over $100 Billion
The U.S. Small Business Administration has already forgiven more than 1.1 million Paycheck Protection Program (PPP) loans for over $100 billion, providing an extraordinary amount of critical relief to America’s small businesses just 3 months since the earliest PPP borrowers’ covered periods ended. “Today’s news is a key indicator that the PPP is working for all small businesses across our Nation,” said SBA Administrator Jovita Carranza. “For any eligible small business continuing to … [Read more...] about 1.1 Million Paycheck Protection Program Loans Forgiven So Far Totaling Over $100 Billion
Considerations for Dealing with Debt
When you consolidate your debt, there is the possibility that you could lower your interest rate. The payments may be lowered and there will be only one payment to make instead of numerous payments. When you consolidate into one loan, you most likely will be extending the time to repay. When you do that, it will take longer. If it takes longer, the lower interest rate will become irrelevant because you may end up paying more interest because the debt will be outstanding longer. So, is there a … [Read more...] about Considerations for Dealing with Debt
Developing a Successful Portfolio: Are your assets properly allocated?
Everyone has an idea of what they want their retirement to look like, whether that means spending more time with family, traveling, or enjoying a favorite pastime. Many people even base their financial plans off of their vision for the future. The reality is that you can never truly prepare for everything that life has in store for you – your plans need to be adaptable. Generally speaking, most portfolios include many types of investments with varying degrees of risk and include elements of … [Read more...] about Developing a Successful Portfolio: Are your assets properly allocated?
Social Security and Retirement: Do You Know the Right Time to File?
Since 1935, Social Security has been one of the pillars of retirement income, serving as the primary source of income for half of Americans over the age of 65. In many ways, it can be regarded as a government-run retirement account for those who have put a portion of their paycheck toward the program throughout their working life. When you retire, your income may cease but your need for income doesn’t. Finding other sources of revenue that can replace your old salary is often the biggest … [Read more...] about Social Security and Retirement: Do You Know the Right Time to File?
Major Changes Recommended to Improve Financial Future for Arizona
Business representatives, employers, educators, community residents and elected officials present all agree – something serious needs to be done, soon, if Arizona expects to be competitive with the rest of the nation, let alone the global community. That was the consensus following an intense series of economic, governmental and economic presentations from four Quad Cities leaders on April 4. Called “Financing Arizona’s Future,” the forum was sponsored by Arizona Town Hall, and attracted … [Read more...] about Major Changes Recommended to Improve Financial Future for Arizona
Planning for a Retirement That is Better Than a Vacation
Some people spend more time planning their vacation than they spend planning for retirement. When it comes to retirement, many Americans don’t know where to begin. It is important to have a retirement plan addressing ways to have income for life. Finding the most efficient and beneficial way to address this may impact your lifestyle, your asset accumulation and your legacy planning after you retire. Satisfying that need for daily income entails first knowing how much you need and when you … [Read more...] about Planning for a Retirement That is Better Than a Vacation
Tax Planning for and in Retirement
Even though retirees are not working full-time, their tax situation can still be complicated because they may receive investment income, interest or dividend income or capital gains distributions in addition to collecting social security, a pension or drawing from an IRA. Whether they take those monies out or reinvest them, they may not be in as low of a tax bracket as they had hoped. In preparing for retirement, it is important to identify your future income sources and anticipated deductions … [Read more...] about Tax Planning for and in Retirement