ITs Fun to Think about this Pondering.
I want to give you a few of the financial ponderings I was thinking of during lunch yesterday. These will never change as Americans are fully integrated into a system that is not beneficial for the average person. I hope many of you will learn a few things from reading these tidbits and just stop to think that maybe there is a better way to live life.
Granted we all take risks in life for instance if a stock you owned dropped a few dollars, and you cashed out. But if you are constantly signing on the dotted line for loan applications year after year, then you are destined to live a life of less abundance. By overspending on products and getting services above means is a lifestyle that is never good financial sense.
By discussing the financial ponderings and then acting responsibly by your money any reader will transform into a super informed financial mastermind. Who can decipher any financial pitfalls like a spelunker for the money life we all lead. If done right The ups will be tremendous highs, and the downs will be easily stress free as we can cover any emergency due to the financial smarts and cash hoard we have stashed by not being victims to these interest rate trickery by the banking institutions.
Protect your Loved Ones with Insurance
Life insurance is one of the most important insurance products for providing for your family. There are several different types of life insurance products, and you can find the one that suits your lifestyle. When you speak to an insurance agent near you
, ask about the cost and advantages of the different life insurance products.
Term Life Insurance
Term life insurance covers you for a specified period of time or a term. If the policy holder dies during that period, the beneficiary receives a lump sum of money according to the size of the policy. Terms can vary from 10 – 30 years. This insurance policy typically requires a medical exam and is the cheapest option. Coverage ranges from $100,000 to $5 million and needs to be applied for with the help of an agent. There are also policies that can be applied for online.
I’ve always been big on investing into high yielding stocks or mutual funds. I am a big proponent in investing in something that gives constant rewards. It just makes me feel good to get new shares of my investment every month or every quarter for doing nothing. This is where my high income investment account comes into play.
In the future this high income investment account will hopefully sustain my retirement needs when I no longer desire to work. Another reason I am going this route is to set up my very own high yielding mutual fund, but with more risk. This will hopefully provide greater returns in the future.
On average over the last 10 years, mutual funds have only averaged a dividend yield of 2-3%. But with these individual stocks, depending on the price you buy it at, and with the consistent yearly dividend increases, I know I can have a 7-10% yield on cost investment.
Do you find that your house is full of stuff that is just lying around, for the most part unused and collecting dust? This is unfortunately the norm for most Americans, because we love to buy, purchase, acquire, and lastly procure stuff.
Hey everyone all of that stuff will not make you happier, it just takes up space and energy. I will show you a few awesome, not the average definition of stuff, to make you laugh.
In 2014 the average American adult is predicted to spend about $700-800 dollars for Christmas gifts aka they will give away a bunch of stuff to friends and family. When you multiply this amount as a nation that figure is around 600 billion dollars. (Begin awkward hand clap)
After you read these, you might think to yourself I really don’t need all this stuff and can now focus on living a simpler life.
Happy New Year! Hello friends if you are reading this you will soon learn of all the milestones achieved in 2014. I want to do this every New Year as a way to remember what I accomplished and as a way to help me set up my new goals going forward. I hope you succeeded in completing a few goals of your own this year.
Now this is not a post to brag, but a way to recognize that I am finally keeping track of finances and that just transforms me to keep superseding previous goals. I want to give you a few milestones relating to several topics, but the majority will be related to personal finance or money management, as this is in line with the subject matter of this blog.
This little guy is tired of all the Christmas Shopping.
A new series is born today, with the premise that now I will let you in to see the things that I spent my last hundred dollars on. Imagine if you had only a hundred dollars to your name, what would you spend it on?
The last hundred is a way to lighten up the financial blogosphere with something unique. Yeah I could give you a bunch of boring spreadsheets showing my monthly net worth, but that’s been done a thousand times over.
Also part of me is still hesitant to fully reveal my financial numbers in all its lowly soon to be very highly glory. What will this accomplish, maybe nothing. But it sure is exciting to see what people spend money on, don’t you think?
The spring is about 4 months away and I am very excited to shovel massive amounts of snow this winter. (Not really) We are gonna switch it up today and give you a snap shot of spending in the month of December for some Christmas gifts and random misc. things. (Obviously excluding Mrs. Rich Uncle EL’s gifts, as I don’t want to give away all my secrets)
See below for some spending based off the last hundred dollars – Christmas edition.