Archives For Craig Kelley

A lot of people talk the talk but their walk is much different.  That's not the case with Sean Hyman.  Practicing what he has learned in the Bible he has increased his income from a mere $15,000 per year so much that he is able to give away $50,000 now.

To read more go here:  http://www.moneynews.com/MKTNews/Financial-bible-Hyman/2013/07/08/id/513894/?promo_code=141AD-1&utm_source=taboola

retire-millionaire

If you are in your early 20s and you're getting ready to enter the workforce then do us all a favor.  Make it your goal to become a millionaire by the time you reach your 56th birthday.

It's not rocket science and financial gurus have preached it for years.

Pay yourself first!

Invest 10% of your pre-tax money into your company's 401K program.

Bonus:  A lot of companies will match your contribution up to a certain percentage.

If you make $35,000 per year and invest 10% into aggressive (or greater, which means greater risk) mutual funds you will hit the million dollar mark by your mid 50s (assuming an average return of 10%).

If your company doesn't have a 401K program then take the post-tax money (money taken from your bank account after you cash your check) and invest it into a ROTH-IRA.  Since this investment has already been taxed you won't be taxed again when you retire and start withdrawing it.

Are you in your 30s, 40s, 50s or older?

This same information applies to you too!  Your nest egg at retirement won't be as big as if you had started in your 20s but you will still retire with some serious cash in the bank.

Rule of thumb: The older you are the higher percentage you should sock away into your 401k.  As you near retirement readjust your portfolio to a more conservative blend since you will be relying on that income in the coming years.

Seriously, practically everyone could be a millionaire if they would just do it.  Do it first and then live off the remainder.

You'll be glad you did!

Diets do not work.  Not with losing weight or with getting out of debt and living debt-free.

To lose weight you need to make a lifestyle change.  That probably includes changing your diet but for sure to sustain your weight loss you need to change your habits. No more late night snacks. No more over indulging when you're not hungry.  And definitely making sure you get a good night's rest.

Finances are exactly the same.  If you want to get out of debt then you need to make a change in your life.  A change - to stop spending more than you bring in.  A change - to look your debt in the face and tell it you're done.   No more struggling and seeking happiness in material possessions or experiences.  A change - to look at the big picture and see the freedom you'll have from being debt-free.

Today is the day.  No more excuses.

 

Remember that failure is an event, not a person.

Zig Ziglar