Real Estate

Dare to invest for your future

Investing is a word that most people equate with taking risks when investing in the stock market. Real estate is another place to invest. Some people invest in rare metals like gold. In my opinion, one of the most important investments you can make is in yourself. It involves self-improvement through education and the setting of optimistic financial goals. There are many places to invest and I will cover a few in this short article.

I believe that the main objective of investing is to give you the peace of mind of knowing that your future is assured. This feeling of well-being is euphoric and well worth the effort to pursue. Financial security is something that is available to everyone regardless of income levels. Money doesn’t always bring happiness, but it does allow you the freedom to pursue your dreams. Money is just another tool that you can use to get what you want and deserve.

Investing in yourself is something that no one else can do for you and only if you are willing to make the inner effort. You have to find your niche in life and pursue it with passion. It can be through a formal education, working with a mentor, it can be a hobby, or any combination. When you find something that you love, it is not so important that you are the best at it. The important thing is that it makes you happy inside and that is the key to raising your inner spirit to a new level. When you are happy, it radiates around you and those around you and that is important. You attract people when you are happy inside.

Investing in your financial future is also very important. It allows you the freedom to explore new dreams later in life or to branch out into another line of work in your spare time. Financial investing is something that everyone can and should do throughout their life. In my early adulthood, I thought financial investing was only for the very rich, but that’s not true at all. All it takes is a little discipline and goal setting.

It is very easy to put in writing what you should invest for your future. It’s quite another to set up a payment allocation plan and get started. I had to make a decision in 1985 about how to invest in a new retirement savings plan at work. I was 28 at the time and in the process of buying my first home, so I really didn’t think I could spend money to invest. I was fortunate to have a friend who understood investing and asked me a couple of very basic questions. What is the maximum I can contribute per year and what is the minimum amount? I also wanted to know approximately how old I was to retire. He prepared a spreadsheet that shows how the money invested can grow over time. At the time, I was only earning 22K per year, when I saw a figure approaching 500K my eyes lit up and I decided this was something I had to do.

The “magic of compound interest” was a term that my friend mentioned and it is something that meant very little to me in 1985, but it is a term that you must understand. It is something that a great mathematician named Albert Einstein knew quite well. Albert Einstein said that compound interest is “the greatest mathematical discovery of all time.” Albert understood how earning time and interest allowed him to accumulate wealth. Reinvesting your interest earnings and time invested in a savings plan are very important. I didn’t understand compound interest until my friend put figures on paper that clearly demonstrated the magic of compound interest.

It is difficult for people to understand how compound interest works, but basically the interest you earn is not paid to you, it is reinvested. Therefore, your account grows not only because of what you invest, but also because of the interest you have earned in the past. It’s almost like rolling a snowball down a snow-covered hill. When it reaches the bottom, it is huge and big enough to become your new base.

The United States government encourages people to save for retirement by having their contributions deferred. This is another great benefit of setting up a retirement savings account for yourself. Many taxpayers fall into the 15 percent tax bracket, so if you save 2,000.00 per year, that’s a savings of 300.00 from the top. Your tax-free deposit is not considered taxable income. I would rather save 300.00 per year by not sending it to the IRS. You earn not only by building savings for yourself, but also by saving money that would normally go to the IRS.

One of the main reasons people don’t put money into a retirement plan is because they think they can’t afford it. That’s a very legitimate reason, but you need to understand how little it takes to make a difference in your life. I used to smoke cigarettes when I joined the Navy in 1975. Back then, it seemed like almost everyone did. Fortunately, for my health, I managed to quit smoking many years ago. Today, a single box of cigarettes in California can cost almost $ 40.00. Just by quitting smoking, I saved about 40.00 per week. As an example, let’s say an 18-year-old smoker quits today and puts only 40.00 per week into a savings plan that carries an average interest of 8 percent. At 65, that ex-smoker would not only be much healthier, but he would be saving money worth more than $ 1 million. In reality, it would be exactly $ 1,017,394.90.

Some people will say that this is a silly example because when you are young you spend every penny you earn. If you think like this, you will spend everything you earn. Your inner thoughts are more important than you will realize. By focusing on what you want and staying positive, it will come to you. Dare to imagine what your retirement would be like at 65 if you had more than a million dollars!

I’m not a grandfather yet, but that day is just around the corner, I’m sure. I believe that a great gift for a grandchild is something that you can give long after you leave. The gift is teaching them the gift of giving and also investing. If you saved $ 4,000.00 and put it in an account that earns 9% interest, it would be worth a million when that child turns 65. So you can pass this life lesson on to someone who will keep your photo on the wall. For years after you’re gone But more importantly, that person will pass on what they learn from you to your grandchildren.

In conclusion, I just want everyone to realize that if you want a comfortable retirement, it is in your hands. If you visualize your financial goals and set a plan, it will happen. All you need is to have a clear plan in your mind and stay focused on your dreams. I hope this article helps you and your family realize that investing is for everyone. If you’d like, you can contact me or post a comment and I’ll get back to you if you have any questions. Have a great day, stay positive, and take charge of your future.

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