Games are fun, right?

January 19, 2015 by
Image courtesy of imagerymajestic from freedigitalphotos.net

Image courtesy of imagerymajestic from freedigitalphotos.net

We recently came across this quote from Coco Chanel: “In order to be irreplaceable one must always be different”.  It is so true, but of course in a positive way.

If you blend in with everyone else, you will get what everyone else gets.  Focus on what your job is. Work on how to do it faster and better than everyone else.  Make it like a game.  Play against yourself and your previous performance.  If you finished a certain task within 5 days, next time maybe you can improve your performance and finish in 4 days.

Always meet your deadlines. If there is a reason why you cannot, be sure to explain why prior to the deadline.   This will show that you are a professional and can be counted on.  Be irreplaceable!

What have you done to make yourself irreplaceable?

Filed Under: Career Development Tagged With: , , , , ,

Where are your eggs? Asset Allocation Webinar

January 18, 2015 by

Just in case you missed it, here is a copy of our webinar from Thursday, January 15, 2015, “Where are your eggs?  Asset Allocation”.

Join us this coming Thursday at 7:30pm EST on January 22, 2015 for a very informative webinar entitled “Taxes; The Good, The Bad and The Ugly” with our friend Kim Landry, CPA!  If you have tax questions you would like answered, please send them in to questions@financialfreedomclassroom.com and we will do our best to include them.

If you haven’t already, sign up to get an invite to the webinars on our website.  We hope you can join us!

 

Filed Under: Money Management, Real Estate, Stock Market, Webinar Tagged With: , , , , , , ,

Find a way to make the bleeding stop!

January 16, 2015 by
Image courtesy of hywards from www.freedigitalphotos.net

Image courtesy of hywards from www.freedigitalphotos.net

If you are paying PMI (Private Mortgage Insurance) stop it as quickly as possible!  PMI is insurance a lender charges if your down payment on a home is less than 20 percent of the appraised value or sale price.  The following article by Consumer Financial Protection Bureau has ways to remove PMI from your life.  Take action on this!  If your balance is too high, make extra principal payments to pay the mortgage down as quickly as possible.  You can do this!  Even after the balance is low enough to remove the PMI you could continue to pay down your principal with those extra payments.

Of course in a perfect world you wouldn’t have a mortgage at all.  Just imagine…it can happen!

Are you mortgage free or plan to be?  If so, please comment on what it means to you!

 

Filed Under: Money Management Tagged With: , , , ,

6 Sensational Businesses to Start (even in a recession)

January 15, 2015 by
Image courtesy of Tina Phillips from www.freedigitalphotos.net

Image courtesy of Tina Phillips from www.freedigitalphotos.net

Candy – When times are bad we all need something to sweeten our day.  Candy can be affordable and is commonly bought impulsively.  That is why you see it at every checkout counter around!

Veterinary services – Most pet owners have very strong connections with their animals.  They will always make sure they have the care they need.

Thrift stores – No matter how much people are spending they always like to shop and spend less.

Death care services – Unfortunately it happens to all of us and we need it no matter what the economy is.

Cosmetics – Put on a little color and it can brighten your world.  Makeup helps people feel good about themselves.

Home health care services – With the hospital stays getting shorter but costing more, home health care services will continue to grow with the need.

Can you share other businesses ideas that could thrive under any economic condition?  Please share.

Filed Under: Business Boost Tagged With: , ,

Ice cream or hot chocolate? Or both?

January 14, 2015 by
Image courtesy of criminalatt at freedigitalphotos.net

Image courtesy of criminalatt at freedigitalphotos.net

Here in NH it can get very cold in the winter; in fact it was in the negative digits last week. An outdoor vendor here would sell much more hot chocolate than ice cream. In fact, we have a friend who owns a food truck that targets product for sale during the warm summer months. They quickly realized that only selling ice cream limits their season drastically, so they added cold weather products like hot chocolate to sell year round. This vendor knows the importance of diversification!

Diversification is also very important in stock market investments. An example of this would be if you have $100k to invest and you invested it all in one stock. If that stock lost 90% of it’s value you would have only $10k left. Oh, I shutter at the thought! But if you invested $100k in 10 different stocks at $10k each and ONE of those stocks lost 90% you would still have $91k in your portfolio. Visit the SEC website for more on this topic and tune in this Thursday at 7:30pm EST to our FREE webinar entitled “Where are your eggs?; Asset Allocation” for more information.

What is your diversification ratio mix?  Please share…

Filed Under: Money Management, Stock Market

Cash is KING!

January 13, 2015 by
“Chess King” by pixtawan from freedigitalphotos.net

“Chess King” by pixtawan from freedigitalphotos.net

Let’s go over a scenario.  You are selling a house and you receive two offers.  One offer is all cash and the other is subject to bank financing. Both are for the full price you are asking.  Which one would you accept?  I am hearing you scream, “CASH OFFER!”  Yes, and so would many other people.

The cash strategy can turn an OK deal into a killer deal.  Sellers who need cash now are usually more willing to accept a far lower price for the speed of a quick closing.  Keep in mind if the seller doesn’t accept your offer one day, the next day he may change his mind.  Here is an example. The seller is an investor, and  you offer him $100k cash on a $150k asking price. He says no.  However, the next day, he hears about an auction. He may change his mind and take the offer because he needs cash.  You never know someone’s situation from day to day.  It may change.  But CASH will always be KING!

Have you been successful getting a great deal using cash?  Please tell us…

Filed Under: Real Estate

Give yourself a raise!

January 12, 2015 by
“Hand Puts A Penny To A Heap Of British Coins” by Serge Bertasius Photography from freedigitalphotos.net

“Hand Puts A Penny To A Heap Of British Coins” by Serge Bertasius Photography from freedigitalphotos.net

Does your employer offer a matching contribution pension plan?  If so, give yourself a raise!  It is a guaranteed return.  Consider even contributing beyond the amount your employer will match but ALWAYS contribute to maximize the match.  The IRS has rules and yearly contribution limits.  Check them out at http://www.irs.gov/Retirement-Plans/401(k)-Plans.

Very carefully review your investing options inside the plan and select the appropriate mix of investments to make it grow!  With generous donations and good management your account should keep growing. It will eventually become a large part of your financial support when you retire.

If your company has a retirement plan what is the matching contribution rate?  Please comment.

Filed Under: Career Development, Money Management Tagged With: , , , , ,

Are you interested in becoming a Landlord?

January 10, 2015 by

Just in case you missed it, here is a copy of our webinar from Thursday, January 8, 2015, “Are you interested in becoming a Landlord?” Join us this coming Thursday at 7:30pm EST on January 15, 2015 for an exciting webinar on ASSET ALLOCATION!  Just sign up to get an invite to the webinars on our website.  We hope you can join us!

Filed Under: Real Estate, Webinar Tagged With: , , , ,

Pay early and keep more!

January 9, 2015 by
“Percent On Falling Cubes” by renjith krishnan from freedigitalphotos.net

“Percent On Falling Cubes” by renjith krishnan from freedigitalphotos.net

Take advantage of any and all early pay discounts.  Why not?  For example, many gas or oil companies offer a discount if you pay the entire balance within a few days of your fill.  For us in NH where it is ridiculously cold and we have at least 5 fills per year, it will allow us to keep about $150 per year.  To break it down, we get about a 4% discount on our fills if we pay within 10 days.  That’s $30 per fill, times 5 fills, equals about $150!  I would rather use that money for something else rather than burning it!

Even paying by credit card would work too, if you absolutely have to. However, the rule is to ALWAYS, ALWAYS pay your credit cards IN FULL EVERY MONTH.  Never carry debt.  If you cannot pay in full, DO NOT CHARGE IT!

How many of you take advantage of early pay discounts?  Please comment.

 

Filed Under: Career Development, Money Management

CNBC can be part of your success

January 8, 2015 by
“Life Process Sticky Paper On Glass With Drops Water Background” by 2nix from freedigitalphotos.net

“Life Process Sticky Paper On Glass With Drops Water Background” by 2nix from freedigitalphotos.net

Need some fresh ideas for a new business or your existing business?  Invest some time in watching CNBC!  They have some fantastic shows to spark ideas to take your business to the next level.  Shark Tank has some wonderful ideas and a lot of education on business.  There are at least five investors on a panel that hear about businesses and products.  The business owners come on the show to ask investors to invest in their business.  It is very entertaining and educational with a very likable cast of investors.

Another great show is The Profit.  Marcus Lemonis is a very successful entrepreneur who invests in struggling businesses to make them VERY profitable.  He discusses his theory of the three P’s of business, People, Process and Product.  Again, this very educational show can provide ideas for new business owners or fresh ideas to reignite established businesses.

What new business idea have you tried that was successful?  Please comment.

Filed Under: Business Boost Tagged With: , , , , , , , , , , , ,