Brands that I Love V

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schwinn

Hey it’s that time again to talk about the brands that I love in the world. HA I crack myself up, but hey if you don’t take life litely than what’s the point. These brands represent in my opinion great brands we all must own or support. Let’s give props to these companies as they make some excellent products for all of us to enjoy. The range of products consists of clothing to bicycles to some great sounding home theater speakers. What can you say about the old man in the product bunch, Schwinn, as they have been in business for decades way before any of these other brands even existed.

Best Brands that I Love V:

  • ·         Buffalo Clothing
  • ·         Toastmaster’s
  • ·         Schwinn Bicycles (Est. 1895)
  • ·         Terra (Veggie Snacks)
  • ·         Bose Home Speakers
  • ·         Hamilton Watches (Great American Watch Co.)
  • ·         Google (GMAIL & Android)
  • ·         Woot! Website (Amazon Owned)

 

One thing I must admit to my readers is that Bose radios do not work well with CD’s or DVD’s that are reproduced copies. This is the only bad experience I have had with any of these products. Besides the one negative by Bose, the home speakers work flawlessly with superb sound quality. I hear things I never heard before when watching a movie that I had seen previously.

The Woot Website is a great website that has offers galore. The products they sell are always discounted by at least 20% or more when compared to retail prices. Recently they expanded to offer a variety of sister sites like Woot Sport or Woot Home. To add insult to injury and to further explain that the rich get richer, Amazon the world’s largest online retailer bought the Woot website and has expanded it to a monster.

Toastmaster’s is a great organization that can give you the confidence you need to develop communications skills. I have benefitted extremely from the support and knowledge of attending regular meetings at my current employer sponsored club.. If your company offers this service then please consider attending as you will grow as a leader.

Hamilton Watches is a another great brand. I would consider them to be low to mid range in price. But the quality and workmanship behind the brand is at a respectable level for my taste. If you feel the need to splurge once you are out of debt and have a minimum of $400 dollars to spend on a good timepiece then consider Hamilton. Well that sums it up for the brands that I love series for this quarter. Let me know what brands you want me to mention here and I will check them out and give them a shout out if they pass my rigorous brand review test.

Comment if you have had a good or bad experience with any of these brands that I love V?

 

Rich Uncle EL

 

Pic Credit = Old Bike Homestead

What is the Most you made in a Day

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What is the most you made in a day

Did you ever think back and calculate what is the most you made in a day? Silly things like this can make financial matters into a fun game. Take a second and think back to what day in your whole life when you raked in the most dollars. Obviously this project will exclude windfalls like, sale of a home, inheritances, insurance payouts, and lottery winnings. Also regularly scheduled paychecks and bonus money do not count because it is usually divided into a specific time frame, thus not qualifying for a daily amount. In addition to the exclusions above also add in tax return money.

This game is only calculated by what you earned from working your blood sweat and tears to the ground. It can consist of 1, 2, or 3+ jobs or side hustles. If for example you made 3k in a week then you can take that amount and divide it by the number of work days to give you a daily figure.

It could have occurred in the year 1999 or 2013, the point I want to communicate with all of you is to remember that fun day and try to replicate or top the massive amount of dollar bills you placed in your pocket. If you set goals you will eventually exceed them, so this project will keep the big amount fresh in your mind and you will hopefully look to top it everyday from now on. Maybe next time we can touch on; What is the most you ever made in a week or month or year. Now after this post I will keep a eye on all the income sources to try and top this figure. See below for my figure.

What is the Most you made in a Day:

- 580 is the most I’ve made

 

I hope you can find the objective of this money exercise because we all can get motivation by this type of game. My figure consists of my day job money, sale of a sneaker, and a part-time job. Just imagine making that every work day. I took out my handy little calculator and that is about 11K a month or 140K a year. That is some serious paper right there. I have a little sense of what type of money big wig executives make. Guys you can also include any dividends or interest money you made in the stock market. Maybe at the end of December I can calculate my daily money average I made for 2013. I am hoping my website can get me some good side income to push my average up. I know some of you are going to share some fun and exciting amounts, especially all the night owls who do not sleep to make those dollars.

When you hustle you will reap great results – Rich Uncle EL

Comment on what is the most you made in a day?

Rich Uncle EL

Starting an Investment Club

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Hey readers would you be open to starting an investment club with 15 people or would you be scared and run for the hills? Investments clubs have been around for a long time and it is primarily done to pool together assets to build the assets faster and in an intelligent manner. How can you say smarter because nobody actually wins in the game of the stock market? Well for starters if you are in an investment club, the members tend to have talks at least once a month to discuss the pros and cons of possible future investments the club will make. I think when people sit down and discuss finances in a responsible manner and make educated decisions then it all contributes to making better financial decisions.

Now to tackle the faster part of the process, if you have 15 people contributing 50 dollars a month for a year the sum total after 1 year is $9,000 of investable dollars being put to work for the club. Do this for 10 years with compound interest and the club will have upwards of 120 thousand dollars of compounding power every day. Little pennies turn into big quarters which turn into huge dollars. How long will it take you to save up 120K by yourself?

The one negative I see with this opportunity is at what point can members start to see the rewards of their invested dollars? If every member starts to take distributions from the club then the fund will not grow unless there is a plan in place to continue to contribute either new money or a portion of the distributions. For example if every member is owed 100 dollars a month for interest payments, maybe 15% can be held before releasing the money in order to grow the fund. Because if you equally distribute all the profits of the fund the fund will stay stagnate and will not increase to keep up with inflation plus the purchasing power of money. Getting everyone to agree on investing opportunities might be a difficult task as well. But the point of the investment club is to invest mutually to pool resources together in order to reap plenty of rewards at some point. After 10 years each member has equally invested about 6 thousand dollars towards the club. So I imagine people would want a good return on their money.

I see many positives with doing an investment club, but one that really sticks out is the availability of online tools (A Couple mentioned below). In addition to that you can also find bookkeeping software for investment clubs.  These two tools will provide a ton of great information in order for the club to succeed. On one hand the club will get investment advice and analysis very easily, and on the other the club will handle the books for accounting purposes very easy. If things are automated then it makes life that much simpler for the group.

Typical Investment Club Structure:

President – Signing Authority for all Transactions / Investment Advice / Leads the Meetings

Vice President – Secondary Authority-Fill in for President / Finds Meeting Location 

Treasurer – Maintains the Books / Signing Authority

Secretary – Communicates all Information to all Members

Tax Advisor – Handles the Tax implications for the Club

Financial Advisor – Monitors the Investment Markets to Find Deals

Resources:

http://en.wikipedia.org/wiki/Investment_club

http://www.fool.com/InvestmentClub/InvestmentClub05.htm

Join an Investing Club Association:

http://www.betterinvesting.org/public/default.htm    ($ 84 Dollars Annually Fee)

Investing Advice Website:

http://www.dividend.com/      (169 Dollars Annually Fee)

 

This is the information you will need to start an Investment club.

 

Comment if you are a part of a club like this or if you will ever consider starting an investment club?

Rich Uncle EL

How I Save Money by Running

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How I save money by Running

Running Helps me Maintain my Health

Running Helps me Keep my Energy Up

Running Helps me Eat Better

Running Helps me Save $$ on Utilities

Running Helps me Avoid Shopping Malls

 

Hello guys this is a fun light hearted post today. Questions are in your head right now about how in the heck can I say that I save money by running? The 5 reasons above clearly make complete sense in my mind and is the definitive answer to the previous question. Now all I have to do is convince all of you that you can do the same as well. I will attempt to do so during the 600 words contained within this post, but ultimately it is on you to get out and run while you still can. Do you ever think about how much time you will have before you start to hear the bone cracking and popping in your knees and hips?

I do not want this to happen to me so I stay active. If you do not have that much time or you have a million excuses then that’s your choice. My advice will always be to make time in you’re schedule. Because we as humans were made to be active. Please read that again as it sums up the whole underlying meaning. The cave men could never take a day off from hunting because they would starve. Nothing gets you moving more than an empty stomach. Now we have the convenience of supermarkets so it makes even more sense to work out or run more often. Why do I say that because the food is nicely prepared for the picking no real effort is placed on us to get food like in the past.

What can you to be more active? Take ten minutes while at work and go up and down a few stairs. After sitting 8 hours at a desk will you do your body justice and take at least 45 minutes to run. During lunch take a good long stroll around a local park. I think if you do, your body and your wallet will thank you. See below for my personal reasons why I save $$ by running and being active at least 3 times a week.

How I Save Money By Running:

  1. If you run then you will maintain a good and healthy body. This will help you avoid the doctor which is eagerly waiting to prescribe you some medication due to lack of exercise. Dollars Saved by avoiding pills. $$
  2. If you run then your energy level increases, thus allowing you to do other things that you might pay others to do: Walking the dog, The Laundry, Cleaning the House, Cooking instead of Eating Out. $$
  3. If you run you will hopefully make more of a conscience effort to eat better. It’s not about eating the biggest meal. Practice Portion Control. Why because your stomach expands. Be aware of food limits. $$
  4. If you run you will save on Utilities because you will be out of the house: Lights off, TV off, Computer off, Heating or Cooling Appliances off = $$$ saved.
  5. If you run then you will avoid the shopping malls- 1. Because you will be too tired after a good jog. 2. People who are bored go shopping, running eradicates the boredom.

These are all the reasons why I save money by being a runner. If you do not enjoy running then you can just fill in the running part with the many other forms of fun activities you can do in this life. Get a move on as soon as possible. The only real cost to you is, a good pair of sneakers-New Balance, a cold or warm running outfit-Champion Women’s Woven Sport Short,Black/White,Small, and a hydration bottle.

I want to be selfish with my body because one day I will not be able to run so why not do it now. Time is ticking my friends and the flexible bones and joints will not stay loose forever.

I am a runner because I want to be active, all the money I am saving is a bonus – Rich Uncle EL

Comment if you save money by running or if you do something else to stay active.

 

Rich Uncle EL

 

Lead by Example Quotes

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Lead by example quotes

What’s going on this Friday? I hope it is a pay-day Friday for you. How can you lead by example every day?  By sticking to your values and morals and completing goals on a consistent basis. I think the theme this week for my all original quotes, will be based on being a good leader. When you lead by example you do so much for yourself and others. I am ready for this weekend as the past few days have been a drag.(Work is slow)  I wonder what fun things you guys have planned this weekend? I have to fit in visiting my folks, some writing, a work out, playing basketball, and a kid’s birthday party. Now it’s time for some great quotes.

Lead by Example Quotes:

- Respect could be bought in life, but I rather earn it for free – Rich Uncle EL

- Failure is not the last option we have; it is a step towards the next chapter – Rich Uncle EL

- When leaders look in the mirror, they see much more than a reflection – Rich Uncle EL

- The time will come when you must decide if you will lead or follow – Rich Uncle EL

I feel we all can lead by example by making smart decisions and influencing others who look to you for inspiration. Also if you happen to be in the learning stage it’s ok to follow for some time until you can gain enough experience to lead. The road to success can be shortened in anything you want to do if you find a good leader to show you the ropes. I hope you can find the message I am trying to convey with the quotes above. ( It can be summed up right here – Leaders Inspire Others)

Comment if you have a story of when you lead by example or if you want to give a great leader a shout out.  

Rich Uncle EL

The pic above is one of the greatest leaders of all time. Abe Lincoln

How Much Savings is Enough

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This question is thought of and asked thousands of times from individuals to financial media outlets. How much savings is enough for me to retire? Well I have a simple solution for all of you right here on this great website. The idea for this particular post came to me when I was having a random discussion with a co-worker about food. A light bulb came on in my head and I thought I can solve this simple question easily. The answer is very personal to you because each person’s financial portfolio is different. What makes sense to me might not correlate with your investing strategy, because of this investing tends to be viewed as complicated. But do not fret as there are no wrong answers here today.

Continue reading →

The magical financial figure that you might have in your head might be overly inflated. So let’s break it down for everybody to digest the information easier. Long gone are the days when people needed 2 million dollars to retire. I have read where 400K will be enough to cover someone’s expenses for life. But on the other hand if you want to live like P.Diddy then you might need the interest of 15 million bucks to buy yourself a G6 airplane.

I will hope you can: 1 keep up with the thought process on the personal finance strategy I will share with you, 2 you can be open to this new way of viewing how much saving is enough for your retirement.

 How Much Savings is Enough: (Calculations)

Step 1: Add up all your expenses X 12 = (Annual Figure)

Step 2: Add on top of this figure any vacations you wish to take every year. (Estimate based on last price paid)

Step 3: If you foresee being Mortgage debt free, subtract the mortgage payment annually not the taxes.  (Renters skip this step)

Step 4: Add an additional 15% as a buffer to protect you for inflationary costs.

Step 5: Divide the total figure by .04 = Magical Retirement #

 

This is the figure you need to reach to happily cover all your expenses and annual vacations for at least 25-30 years in retirement. The interest from the final figure will pay you the set amount annually to cover your expenses. As long as you stay on track to only withdraw 4% every year from the nest egg account, it should cover you in retirement. In addition to this Social Security will give a bonus every month after the required age. If you own a home and pay off the mortgage sooner than later, you can reach your magic number in less time.

 

Obviously if you retire earlier than 45 then you have to consider that the nest egg must last you 40 years, the additional time must be taken into consideration.

Let me know if you have any issues with the calculations above?

 

Comment if you were shocked to finally see with your own eyes the figure based on how much savings is enough?

 

Rich Uncle EL

 

PS: IF you retire before 60 then make sure you have the right balance between retirement and non-retirement accounts in order to cover your expenses for the years until your 60 birthday. (After 60 years of age, you can access retirement accounts penalty free

The Purposeful Quotes

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The purposeful quotes

 

I see the opportunity that quotes can give all of us because they can mean a lot more than you actually meant to say. I know I have been motivated by some quotes because I now write three quotes every other week for this site. If just one person gets inspired then I have done my job right by serving all of you with free content.

The theme this week is finding the purpose for life. I will not hesitate to tell someone to find their purpose sooner than later because after that point life makes extreme sense.

The Purposeful Quotes:

- Life can be a blessing, when the direction is planned and a purpose is stated – Rich Uncle EL

- I appreciate my life along the way and I still continue to strive for more – Rich Uncle EL

- When you can see the big picture of your life, everything just falls into place – Rich Uncle EL

If some of you find my talk about finding the purpose of life as over kill because I have written about this a few times before. I feel a sense of urgency, as it an important subject matter in this time for the mere fact that so many people are lost and do not have a simple clue what to do with their lives. If you can sit down and think for a half hour per day and about what makes you happy the answer will soon follow. The hardest part is applying what you love with making an income off it. I love basketball, but playing is a free hobby and coaching it will not pay the bills, unless you reach NBA status. It will take some time and dedication to finally implement the work you love into a steady stream of income. Anything is possible with enough strive, dedication and support from others so do not give up.

Maybe the purpose for your life might not find you until you are 40+ years old, but thinking about it now in your 20s and 30s does not hurt you at all. In contrast it will make you more aware of what your inner self wants.

Comment if you find value in the purposeful quotes?

Rich Uncle EL