Many people are withdrawing from their 401k funds and losing out on a big opportunity to make money in the future. Every time someone switches jobs I bet a little piece of them is wondering, what can I buy with this 401K money I have saved for years? The answer should be nothing, but that is not the case for millions of working adults. It goes to show that many people do not understand the full effect and repercussions involved when they take out retirement account money.
The only funds you can take out are the contributions of a Roth IRA that has been established for some time. When in doubt ask, and when in further doubt, have the check made out to Vanguard. (Never have the check made out in your name) Why do we tap into these funds without finding out all the information involved in the transaction?
I know you probably read at least one thousand fantastic articles about the abundantly used topic above. It was most likely based on helping anyone struggling with money avoid living paycheck to paycheck. Can people read this fantastic article and say, that’s it next month I will not live paycheck to paycheck? While many of the tips and strategies the person took away from the publication can be implemented. Is it safe to say that many people cannot make the behaviors stick? Which results in the past paycheck to paycheck life being repeated again in the future? Granted ideas are a dime a dozen and it is up to the person who wants to improve to make the ideas stick.
The purpose of this post is to get you to a think of the why reasoning behind the lifestyle you dislike, and move you to another lifestyle. If you can’t understand the why, then you will not take action. Without action nothing changes.
Did you ever consider how many financial benefits out of walking you can get? Besides the health benefits walking can provide you so much more that people can extract from the simple act of walking. I walk everyday about 1 mile, and it helps me refresh my mind. For example if I am stressed over something the walking helps. Also if I am feeling mentally tired by a task at work that is getting very repetitive, well walking helps with this situation as well. It’s safe to say anyone with the right mind frame and with an able physique understands the awesomeness of walking. Now let’s focus on the money side of walking and how the heck it can help you out as well. See below for 5 tips on the financial benefits of walking.
What are the 10 secrets millionaires live by? Well I will share what I have read below from various books, money magazines, blog posts, and by word of mouth. These secrets can be attained by anyone looking to do things smarter, better, and financially sound regarding personal finance. Did you know I have a direct line of contact with Warren Buffett? So he actually told me three of these awesome secrets. (I’m Kidding) The rest were found on a very trustworthy site like Reddit. No seriously keep reading as it is worth it to find out the fabulous secrets the rich use day in and day out to grow their wealth.
The secrets do not involve insider trading or being on a fancy executive chair position when Facebook buys your online company for billions. No they will be secrets that are actually attainable in life, and will definitely not put you behind bars. One of the secrets if you already read this blog and I’ve stressed from the beginning is deciphering the value and symbolism of money.
All the media channels talk about the great recession on a daily basis, when they try to explain the current state of the economy. Should we cut or raise rates is being beaten with a stick by all the economists. I’ve heard Janet Yellens name at least a million times since she took the Chair of The Federal Reserve Bank. Now I want to talk about how the recession aftermath is still lingering and the economy is not as rosy as it may seem. Do you know that the labor market is still not doing particularly well, and many employers are padding their numbers in tactical ways? The housing market is better and people are supposedly buying again. Every time I hear the numbers I question what percentage of those new housing purchases are rich investors? In any event the recession has not fully gone away and I want all of you to get ready for a possible inflationary period to hit your wallet.
The recession aftermath is influencing major changes to corporate America, where blue chip companies are buying each other with reserve cash flow. The M& A markets are on fire in the past 2 years, and it is primarily due to all the extra cash these companies have on the side line just sitting on the bench. These companies are buying revenue instead of trying to grow revenue. What does that really mean for the average person? When a big company merges with another big company the first thing to happen is a reduction in jobs. They are eliminating more jobs without offshoring them, and nobody seems to bat an eye. To explain further, just recently Microsoft revealed it will reduce its workforce by 12K jobs, due to the merger they had with Nokia. On the drive in to work Fox Media placed a buy bid for Time Warner for 85 Billion dollars and a few seats on the board of Fox. What is the first thing they will do if this purchase gets approved? How many people can we skin? They call a reduction in jobs a corporate synergy to mask the real threat to America’s citizens. If the government keeps allowing these mergers and acquisitions to take place it will systematically reduce available labor positions by millions. When big companies get even bigger, they reduce operating costs, raise prices to justify the purchase of the smaller company, and monopolize the markets.
Happy Saturday my friends. I cannot fathom that this series has grown to 5 posts. Because I struggle with over sharing and with every post that I do share on this topic I feel better about blogging. In the first few months of my blog I thought on one really cares about my story, but in reality people do really care. How do I know this? Because my about page is very popular and these posts have been popular as well. Well enough about why I’m doing this and let’s delve into the facts.
What’s going on today my friends? The topic today is patience, I feel if you practice patience you can successfully train the mind to do extraordinary things. For example you can become a better person by not letting impulses drive your actions. The number one detriment to people becoming wealthy today is a lack of patience. The Delayed gratification phrase is steadily being played out like a 90s hit song all over the personal finance world, but it is the sad truth many people are faced with because we all want things now.
In this society patience is running thin, and I see the harmful effects of this every day. From the careless drivers who cannot help themselves to look up away from their cell phones, to the guys running up enormous bar tabs to impress girls at a bar. It all boils down to having patience in life. I will share with all of you today how to practice patience and I hope you can see the benefits to why you would want to practice being more patient in life. How to practice patience examples listed below:
Do you have a list of mistakes you just keep repeating? Did you know if you write them down in a journal to jolt your memory that you probably might not make thosemistakes again? Well I’m going to share with you the 10 personal finance mistakes I’ve made in life and I am vowing that I never make them again. Learn from your personal finance mistakes to become Wealthy.
