Mar 282017
How Much Money You Need To Save Each Day To Become A Millionaire
Information
Comments Off on How Much Money You Need To Save Each Day To Become A Millionaire
Mar 212017
How much money do you need to save each day to become a millionaire? Check out the chart from Business Insider below to “trick” yourself into building up your savings account.
If you want to get rich, start investing — and start as early as you possibly can.
“Becoming rich is nothing more than a matter of committing and sticking to a systematic savings and investment plan,” financial adviser David Bach writes in his book “Smart Couples Finish Rich.”
“You don’t need to have money to make money,” he writes. “You just need to make the right decisions — and act on them.”
To illustrate the simplicity of building wealth over time, Bach created a chart (which we re-created below) detailing how much money you need to set aside each day, month, or year in order to have $1 million saved by the time you’re 65.
The chart assumes you’re starting with zero dollars invested. It also assumes a 12% annual return.
You can start by investing in your employer’s 401(k) plan — an easy, automatic contribution — and then consider contributing money toward a Roth IRA or traditional IRA, individual retirement accounts with different contribution limits and tax structures.
While the numbers in the chart below are not exact (for simplicity, it does not take into account the impact of taxes, and 12% is a high rate of return), it illustrates that a commitment to saving — even a few dollars a day — can make a huge difference in the long run.
Next time you consider running to Starbucks for a $4 latté, think about this chart and consider redirecting that coffee cash to your savings:
An Explaination Of The Federal Reserve In Less Than 3 Minutes
Political
Comments Off on An Explaination Of The Federal Reserve In Less Than 3 Minutes
Mar 202017
Everything you didn’t know about the Federal Reserve explained in just a few minutes…
Like doing taxes and managing a business, there’s a lot many of us didn’t learn in school. Fortunately, School House Shock is prepared to instruct the masses on what exactly the Federal Reserve is.
In case you missed Government class, the Federal Reserve is the central bank of the U.S. and it is credited with helping the nation maintain high employment rates and stable prices for consumers. The main tool utilized by the Federal Reserve to influence the economy is interest rates – the price everyone pays to borrow money. Learn more here.
As is mentioned in the video below, the central bank is able to assert its influence by buying and selling U.S. Treasury bonds (this is how the U.S. borrows cash to fund government operations). When the Fed buys Treasuries from individual banks, new, shiny money is created electronically to pay for these bonds. Such is how the Fed increases the supply of money in the American economy.
However, there are numerous ‘cons’ to the process. This is what the video below seeks to examine in less than three minutes. A summary, found in the description section on YouTube, reads:
“Money – whether its a tangible piece of paper or a number on a screen – is intrinsically worthless, yet it fuels the modern world. In America, the ultimate control of money rests with the bankers of the Federal Reserve System. Because of this it is detrimental that we as citizens understand how this shadowy – private – organization works and how it’s ultimate goal is to forever enslave us in a descending pit of debt that we will never crawl out of.”
Learn more by watching the video below:
Confucius Say: Debt
Confucius Say
Comments Off on Confucius Say: Debt
Feb 252017
Joke Of The Day: Opening A Joint Account
Jokes
Comments Off on Joke Of The Day: Opening A Joint Account
Jan 272017
