Shameless Advertising Plugs

Like many of us trying to make a little revenue back from the knowledge that we share on our personal financial blogs, I have a few advertising links on this page, but hopefully they are not annoying enough to deter the real meaning of this website, which is to help educate young people about personal finance. 

I am fairly picky about what advertisements that I choose to share on this website.  So, I thought that I would talk about each one, because I truly do think that they add value to this website.

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65% of Generation Y Workers Expect a Pension at Retirement

I do not know where these young people are, but they need to be knocked over the head with a frying pan.  Pension plans are a thing of the past with big corporations.  I am sure there are still some companies that offer them, but they are far and few between and declining as we speak. 

If you are between the ages of 18 to 34 and you are in the working world, you need to be contributing to a 401k or IRA plan.  You must control your own destiny when it comes to your retirement.  If you start early, you WILL retire a millionaire.  40 years of compound interest is amazing.  If you only saved $300 a month for 40 years, you will have a nest egg of $1,897,224.  And that is being extremely conservative with your monthly saving! 

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Question: Where Should I Park My Short-Term investments?

When it is all said and done, there are only two kinds of investments — long-term and short-term.

Long-term investments should be money that you are not going to touch for more than 5 years.  This category involves retirement planning and overall wealth building.  This money does not need to be as liquid as short-term investments, meaning you can put the money in real estate or a start-up business.

Short-term investments should be money that you need to be more accessible and readily available for you to use at short-term notice.  Short-term investments should be savings for things that are less than 5 years down the road.  This might include saving for a car, a down payment on a house, car/house maintenance, or other high dollar personal items. 

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Tips for Those Starting Their First Real Job

Many of you are coming out of college and diving into “the real world”.  I was anxious to see just how real this “real world” was when everyone older than me talked about it like some kind of far off never-never land.  Anyway, it’s real and it’s rough.  Getting your first real, well-paying job is a huge adjustment.  I sat through 4 hours of a benefits meeting, and I was LOST.  Once they start talking about 401k contributions, health/life insurance, and short-term disability, your head will be spinning.

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The Saving Deficit in America

USA Today reported that in the month of January the average household spent $575.00 OVER their budget.  This means that they spent way more money than they had coming in.  Not only is America increasingly spending more money, they are saving less.  Spending is only healthy for an economy when they are saving money at the same time.  The article revealed that many economists are not worried about the spending deficit.  I think they are idiots.  Just because they are economists does not mean that they don’t go out and buy a 50″ plasma television on the 29% Best Buy credit card.  When the average household is spending hundreds of dollars over budget every month, that worries me. 

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Watch Out For the Young Indian Generation

This morning, Good Morning America ran an interesting segment about the ferociousness of the young Indian generations (35 and under) that are passionate towards education and entrepreneurship.  It is now common for young Indians to be well versed in English, technology, and business practices.  With these three skills combined, it poses a great threat to young Americans whom they will be competing with for jobs in the near future. 

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An Interview with Ben Casnocha, Teenage Entrepreneur

After reading the USA Today article about Ben Casnocha, I was intrigued to read about a man whom started a software company at such a young age.  I found myself reading his personal blog every day.  If you read the posts that Ben writes, you will soon find out that he is wise beyond his years, and he has a passion for knowledge and understanding the complicated issues of our society.  The most refreshing part about Ben is his humble attitude that oozes out of everything he writes.  I introduced myself to Ben through e-mail about a month ago, and recently I asked him to answer some interview questions for this website.  He was kind enough to do so.  Here is the full interview. 

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Paying Off Debt Will Increase Your Net Worth

In my opinion, personal finance is 80% about the behavior and 20% about the numbers.  However, this is one example of how looking at the numbers can cause a behavioral change.  Everyone wants to increase their net worth, and many people try to come up with a 101 get rich quick schemes to boost their net worth.  I am going to show you a 100% guaranteed method for increasing your net worth!  There is NO start-up fee, and I do not run info-mercials at 4am on sunday morning.

Calculating Net Worth:  Assets – Liabilities = Net Worth

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Five Businuesses To Start With $200

Professional Consulting

Are you an expert at something?  You may be able to start a professional consulting business by giving your expert advice.  Some examples of successful consulting firms are business, financial, computer, advertising, and tax consulting.  This is a service industry so start-up costs can be very low.  There is no inventory and if you already have a computer and basic office software, then all you need is a budget for advertising and a web presence

$100 for web domain and web hosting package

$100 for printed business cards, brochures, and direct mailers

Computer Repair

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