Owner: Want More Money? Need More Money? URL:http://want-more-money.blogspot.com/ Join Date: Mon, 18 Jun 2007 19:58:46 -0500 Rating:0 Site Description: Do you want more money? Yes, I need more money for my retirement. We all read about it: the need to plan for a comfortable, worry-free retirement. That's my goal, and this blog is my journey as a real-life example. Site statistics:Click here
How to Accumulate Wealth 2007-06-18 09:18:00 This is not a guide of a thousand ways to to earn a lot overnight, but a modest one on how you can accumulate and increase your wealth over a reasonable period of time.1. Get Ride of Your Huge LiabilitiesDo you have anything in your possession soaks up a bulk of your savings, but offer no glimpse of return in the horizon? If you have anything of this nature (like a car) get rid of them fast! Huge ticket items that require thousands of dollars a month to service should be thrown away. And find alternatives to your lives without it.In my case, I sold my car so that I can accumulate at least $12,000 of savings every year. My alternative? Public transport to wherever I go now. 2. Resist the Temptation to BuyDo you have any big ticket items that you so would love to own? If you do, put it off for a while. Do something else to distract yourself from the temptation. The chances are, if you put it off long enough, you either lose the temptation to buy it, or the price of the item falls. I'm p Read more:Wealth
'Get Rich Quick' Makes The Seller Rich 2007-06-16 21:12:00 The 'Get Rick Quick
' is an extremely persuasive form of marketing that tricks the user into buying a product that will almost never work for the user, or a product/service/deal/scheme that never exists. So instead of buying to get rich quickly, the users end up paying the seller, so that the seller gets rich. These types of scams have been around in the past, and have continued to exist into the digital age in a variety of different forms.You may be surprised to know some of the 'Get Rich Quick' schemes can be considered legal. An article on Wikipedia explains:Legal Schemes1. Work-at-home tasks that guarantee high return with no effort.2. Selling training courses in trading of as real estate, rare coins, gemstones and other financial assets.3. Selling software or miracle items for predicting lottery, gambling bets, stock market up/down swings, etc.4. Selling books on how to make money fast, or on information above.Most of the legal schemes have a proper product or service to sell, Read more:Seller
Crash Course in Stocks 2007-06-15 09:32:00 Are you a newbie thinking of riding on the latest waves of bulls in the global stock market? Don't rush into it! It's hard enough to see your neighbors profiting from the up-cycle in the markets, you don't want to make it harder by going in at the peak only to lose money when the market tumbles. Sure, investment is one way to increase your wealth passively, but it is not the only way. Make sure you do your research before going into investment.There are some basic things to read about in the world of investments. Basics of a StockA stock, put simply, is a certificate of ownership of a company that issued it. Companies normally issue stocks to raise capital in order to fund their expanding business operations, in return for bigger profits. When the stocks are issued, investors buy them and then legally become a small owner of the company. The money then goes to the company for their operations.The stocks once owned by the investors can then be traded on the stock exchange, a glorifie Read more:Stocks
, Crash Course
Insurance to Cover Income Upon Death 2007-06-14 08:18:00 There's a common misconception about insurance for covering death. Most financial advisors would advise that the older you get, the more you need death insurance, because you are likely to die the older you get. It may benefit them because the more premium you pay, the more commission they earn. For you as the consumer, is that really the best way to go? Remember, too much unnecessary insurance is a cost to you, and it may not be something that you would like to spend on.My opinion is that the coverage for death requires only a decreasing term insurance. The reason is extremely simple. Take me as an example. I am now 30, and I plan to retire at 60; which gives me long period of 30 years to earn my living. Let's suppose that necessary expenses for household amount up to $1,000 on a monthly basis. If someone up there decides that I should lift off and meet him this moment, I will be unable to provide for this expense for the next 30 years for my family. Now, that amounts to $1,000 x 12 Read more:Cover
, Income
Start Early 2007-06-13 07:20:00 An article on Yahoo Finance gave me inspiration for this article. Columnist Ben Stein rightly argues that time is neutral and cures nothing. For those of you fellows who think that they can afford to start saving up for their retirements when they reach about 40-50 years of age, they had better get their bottoms away from the TV couch, and open their exercise books to scribble their workings. Take myself for example. After I sold my car, I still have the following yearly bills to foot (in Singapore Dollars):1.Utilities$150 x 12$1,8002.Groceries$1,000 x 12$12,0003.Entertainment$400 x 12$4,800 Total $18,600If I retire at about 60 years old and expect to live for another 20 years, I will need about 20 years x $18,600 = $372,000 in today's money. Suppose the value of money falls by 2.0 percentage points every year (that is, the cost of items inflates by 2.0 percentage points every year) for 30 years, I will need at least $600,000 to last me through 20 of my twilight years withou Read more:Start
, Early
Let Others Do The Spending 2007-06-12 05:33:00 It is a well-known fact (or well-believed theory) that the increase in spending by consumers actually boosts the economy in which the consumers live (assuming a closed system). Consumer spending results in job creation and wage increases, and subsequently encourages more spending. Job creation results in the production of goods, services, and other mechanisms that drive consumer spending. Good marketing is one such mechanism and it invariably entices consumers to spend regardless of their needs. But as an individual, do you have to subscribe to that? My answer is no. My philosophy is to let others do the spending, unless:1. The spending is a necessity.2. The spending provides an adequate return on investment.3. Not spending results in a loss greater than the cost of item.The definition of necessity is subjective. But I am sure we can agree to a great extent that something is necessary if you need it to survive. And good heavens, you don't need all that little shiny rocks around your n Read more:Others
, Spending
Don't Cut Up Your Credit Card 2007-06-09 12:04:00 You must have heard of advice from financial advisors to cut up your credit card so that you will never once be tempted to spend again. In my humble opinion, that's like taking lozenges to soothe a sore throat: it doesn't get rid of the problem.And the problem is obvious. It's the user of the credit card, not the credit card. It's also not the banks behind them, although they are the one who market the card as a must have, and the use of it as a way to showcase one's affluent lifestyle. The banks and the people behind the card wants you to think you are well-to-do, (ironically) by spending as much as, or all of your money. Who else will pay for their logo hanging precariously from their building, their annoying tele-marketers, their pretty roadshow promoters, and that heavy-weight Chief Executive Officer and his office space at the 99th floor? Easy-Forex? The best trading platform available today.Forex trading involves substantial risk of loss, and may not be suitable for everyone
Poor Dad Poor Dad 2007-06-09 05:40:00 I'm guessing most of this site's readers would have probably know by now who Robert Kiyosaki is. He is known for his popular (in both the good and the bad sense) Rich Dad Poor Dad bestseller. Written in the form of a story, he argues that the middle class stays in the middle class, and the upper class gets richer because of the differences in the way they think.The Poor Dad is his true father, who is a lecturer in a university and earns a reasonable living. But he walks on the safe path of life, goes through motion of basic education, university education and then finding a respectable, secure job. He is one who, like many of us, takes little risks. He encourages his son to study hard, and find a safe job. He works for money.On the contrary, Rich Dad, who is his friend's father, had earlier dropped out of school grade and made himself a millionaire. Rich Dad teaches him (and his friend) invaluable lessons in managing wealth and finance, and to learn how to take managed, or calculate
Sell My Car 2007-06-08 06:21:00 I personally practice (as far as I possibly can) to avoid purchases of big-ticket luxury items, especially those that will yield no return at the end of their life span. But to be frank, I made a grave financial mistake once, and landed myself into a pile of debt that I really hated.I bought a car.Why did I hate it so much that I had fights with my mom over this? She wants a car for a higher social status, to be exchanged with the expenses that I had to bear:1. Monthly installment for the next 7 years - SGD $550.2. Average fuel cost - SGD $4003. Parking costs - SGD $1004. Insurance premiums (amortized) - SGD $ 1005. Road tax (amortized) - SGD $50.6. Regular Maintenance - SGD $50Easy-Forex? The best trading platform available today.Forex trading involves substantial risk of loss, and may not be suitable for everyone.That amounted to whopping SGD $1250 a month for the ownership of the car, and SGD $15,000 annually. (That translations to about USD $10,000 annually). And my car was only a
(Don't) Earn from Paid Surveys 2007-06-08 06:04:00 My experience with surveys aren't that great. Since last year, I believe, I have only amassed a total of USD 5 from surveys. The rest of you may think differently, but I have certainly not found earning money from surveys to be a worthwhile attempt. Sure, you can sign up and leave your contact in hundreds of survey sites, but how many survey sites actually get back to you? Even if they do send you a survey once or twice when the moon shines blue, what is the chance that you will succeed going past the screening questionaire (by submitting honest answers)? Yet today, you still see lots of online advertisements on Google for paid surveys. And worse, they promise the riches that sound too good to be true, because they really are. If you belong to one of those who will believe, or have believed in any of these earn $3,500 a month schemes, stop and think again. What's in it for people who will pay you that much money? Our money don't grow on trees, and that goes the same for theirs, too,
Moonlight If You Can 2007-06-08 05:02:00 I have a regular day job that pays reasonably well. But because my skill set is largely technical (I am a software researcher and developer), there will come a point in time in my life when jobs like these come harder to find.I am currently in preparation to amass savings large enough to start a small business for food and beverage where I live. I have not yet decide on the type of food I would like to sell, but I know it will have to be up in about five to six years time.And now I practically have nothing to begin with.So then, one may ask, how do I amass my savings? In a society that encourages spending, it would seem as if amassing a huge savings within five years will be an impossible task. In reality, it is not. All you have to do is the following two things:1. Earn More.2. Spend Less.Easy-Forex? The best trading platform available today.Forex trading involves substantial risk of loss, and may not be suitable for everyone.Are you surprised you didn't learn this in school? I am. I Read more:Moonlight
Invest My Savings 2007-06-08 04:53:00 I just past thirty, but up until now, I haven't had the mind to worry about money. But when I started to do so as my wedding approaches, I also found out about ways to earn money. My personal history isn't as important as the fact that we need to start young. Really young.I have begun investing some two years ago, and my mutual funds are, given the current bullish market sentiments, have been doing reasonably well. I didn't see stellar gains of 100%, but at least my funds did way better than the local savings rate.My current portfolio for unit trusts are the following:Weightage (%) - Profit (%) - Name -07.31% / 10.82% / Aberdeen Indonesia Equity07.55% / 14.32% / Aberdeen Malaysia Equity14.07% / 12.17% / Aberdeen Thailand Equity15.90% / 20.41% / First State GEM Leaders19.52% / 18.29% / Infinity Global Stock Index12.11% / -3.42% / Legg Mason Global Bond Trust23.54% / 16.05% / Lion Capital IndiaTotal Profit = 13.28% Read more:Savings
How Can The Casual Investor Beat The Market 2007-06-20 05:26:00 We know that stock prices fluctuate day-to-day in a way that makes almost impossible to predict its direction accurately. Well, I could predict the direction with 100% accuracy. It either moves up or it moves down. But seriously, take any intra-day chart and you’ll marvel at how random the movement of the prices can be. They are pretty driven by the random nature of human decision making. Some day fellow A buys at this value, fellow B sells that value. Other days C buys at this, D sells at that. If any astrologist tells me they can predict the sum of all their actions, he or she wouldn’t be an astrologist already.Speculation of stocks is a huge zero sum game, mind you. When you are a winner, someone is going to have to lose that money to you. But how is investing not a zero sum? In between the peaks and troughs there is an imaginary line analysts like to call ‘fair-value’. It does not quite exist, at least not to the short-term speculator. What is for certain is that given good Read more:Casual
, Investor
, Market
Sensible About Adsense 2007-06-23 07:27:00 Often, you hear of successful people monetizing their website with Adsense
and earning from it millions. Whether those fantastic figures are true, I have no **** idea. But I do know for certain: you can earn a small contribution towards your retirement out of Adsense. Unlike ads that appear in newspapers with no relation to the content in the page, Google’s Adsense displays ads that tries (to some extent) to match the content on your website. And Google’s proposal to you as a webmaster is simple: when a user clicks on the ad on your page, the advertiser will have to pay Google. In return for generating that click, Google will then pay you 50% of the revenue earned from that click as commission.What does this mean for the webmaster? It means that when using Adsense in your websites, you should running a business. Yes, running a business; not for yourself, but for the companies who purchased the ads. Remember, you are making a sale from which you will earn a commission. Therefore yo Read more:Sensible
$1,000 A Day From Adsense 2007-07-25 07:21:00 Steve Pavlina has an interesting article on how to make money from your blog using Adsense
. Be sure to drop by for an inspirational motivation.But is it even possible at all? I have to tell you that it really is. I'm not yet earning a $1,000 a day from Adsense, but I'm getting there. In compliance with Google's policies I can't divulge how much I earn, and I don't really care if others do it. But I know for sure that earning money from Adsense is definitely possible. How am I doing this?When making money from your blog or whatever web site that you have dreamt of, you need to understand one thing that most people do not. Building up your traffic can take time... plenty of time. And your job is to create either value for the visitors to keep returning to your site for more information, or to create an impact that will inspire him into taking action to click on Google's Ads.What do you really need?Passion for your blog. You must be very, very interested about the topic that you are
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