Month: April 2015

Mistakes that Can Ruin Your Retirement Dreams

The First Error: Retiring when all you really needed was a rest. All too often, individuals who are nowhere near retirement age, retire or take an early incentive offer imagining that they’re prepared to stop working. After a few months or perhaps years, they discover their routine to be tedious and they feel restless, desperately wanting to work once more. Unfortunately by that time many of their business contacts might have vanished or the economy is in a downturn and they cannot find meaningful work. Before you decide to fully retire, discuss a phased retirement or flexible work schedule with your company. Check out all your options before committing to retirement.

The Second Error: Blowing through your retirement fund too quickly. Keeping track of just how much money you take out of your portfolio each year is crucial to you not outlasting your funds. Four % is the critical number that you could withdraw from your savings each year (for example $4,000 for every hundred thousand you have in your retirement account) which should ensure that your money will last thirty years. If you take out more than that and you could very well deplete your retirement account well before the three decades are up. If you end up retiring in a bearish market and you take funds out when your portfolio is shrinking and you will probably run out of money in less than 15 years. On the other had, if you retire in a booming market, your retirement funds might last forever.

The Third Error: Not taking note of your investments. Many people have no concept exactly what they’re invested in, exactly what they can anticipate to make, and just how much risk they’re taking with their portfolio. This can all be quantified. Do you realize just how much risk you’re taking? Exactly what’s your investment allocation?

If you want more advice, you can download this FREE 30-page report, The 10 Biggest Mistakes People Make When Retiring & How YOU Can Avoid Them at www.MyRetirementSuccess.com.

 

Three Pillars of a Solid Home Based Business

In this day and age it is almost impossible to support a decent lifestyle on just one income, however in a household where there are youngsters, it is rarely possible for both dad and mother to have a job outside of the house. Daycare costs, the requirement for a second vehicle, and too much time away from the children are some typical disadvantages. This, nevertheless, is the exact situation that a Home Based Business works to its greatest advantage.

Home Based Businesses are great and can be very rewarding but without the appropriate knowledge and tools you can squander an excessive amount of time and/or money which defeats the whole purpose you started out with — generating income and having time to do the things you wished to do. This post was written to offer the average individual like you and I a practical guideline to getting underway in a home based venture the right way, and to save you from wasting time, energy and money.

My experience has actually shown me that there are essentially three main pillars or principles of a strong home based business.

Pillar # 1: It needs to have very low start up costs.

A home based company that has a high start up expense will certainly take longer to see a profit, and as we stated previously, time is one of things we are attempting to reduce. Very little cost will certainly likewise make the home based business more assessable to a larger amount of households or people who are just starting out.

Pillar # 2: It must be simple to establish and work at.

The more complicated your home based business project, no matter what it is, the most likely you are to give up out of sheer frustration before you see any results. A business that is simple to establish and work at will certainly offer you confidence and a sense of accomplishment as you complete each simple step in the process.

You have to admit, if you enjoyed losing a great deal of time and expending a lot of energy maintaining a home based venture, you would not be reading this post. This has to do with releasing you to spend time with your family and doing the important things you love, not producing another taskmaster as a replacement for your job! The first 2 pillars of a solid home based business are necessary for the 3rd to take place.

Pillar # 3: It has to have a quick return on investment (ROI).

You can invest months building a home based enterprise but if there is no real profit generated in what is considered to be a reasonable period of time many would-be entrepreneurs might get discouraged and give up. Exactly what is a reasonable amount of time? I would plan for a period on the order of weeks instead of months. Depending on the kind of home based business some individuals have had a good return on investment within days, and unbelievable as it might sound some businesses that deal with affiliate sales can see a profit as early as 15 minutes from startup!

You may be thinking to yourself “that’s too easy!” Let me say that within these three pillars there is a lot of detail to keep anybody busy. The enterprise that you choose to start must absolutely be something that interests you and possibly even something that you already have a measure of experience in doing. Whatever home based enterprise you get involved in make sure that it is supported by the three pillars in this short article. Do not make the error of overcomplicating your efforts or you will certainly see really swiftly that you will get slowed down with a great deal of needlessly lost time and effort.

Here’s to your home based business success.