Time Archives - MoneyWatch101

The Perks of Commuting on Two Wheels

Does it scare you to hear that the average commuter in America spends a solid 38 hours yearly stuck in traffic and over 60 hours in some big cities? The same research shows that idling commuters released 56 billion pounds of carbon dioxide into the atmosphere in a year. Yikes. Most people have better things to do than sit on the highway fiddling with their radio or frantically urging their GPS to find alternate directions to the solid red line that indicates their usual route, but may feel stuck inside a routine that involves tons of time and frustration spent getting to and from work on a daily basis. Many people may also feel guilty about their contribution to the negative impact that commuting by car has on the environment, but may not be sure of potential ways to streamline their actions.

There are certainly benefits to commuting on four wheels, like shelter from the elements, not to mention the fact that many roads are specifically suited to cars, trucks, and SUVS over other vehicles. But two-wheeled commuting in its various forms holds a number of advantages that are swaying more and more people to leave their car in the garage and hop on a motorcycle or bicycle to head to work.

Read on to learn more about the perks of commuting on two wheels, and make sure you’re truly prepared to do so.

Motorcycles: A Shorter, More Engaging Commute

As one experienced motorcyclist outlines for Cruiser, many people may be incredulous about the feasibility of commuting by motorcycle, but it’s hard to deny the time-saving potential as well as the personal connection to each and every commute that may be lacking for those who sit in traffic in their car. Some motorcyclists undertake a practice called lane-splitting—now legal and regulated for safety in California—which involves passing between rows of idling vehicles by driving down the dividing lane line at a controlled speed. It’s not hard to imagine how much time this could save when practiced responsibly, not to mention the fact that motorcycles offer acceleration advantages that can translate to more efficient lane changes and traffic maneuvers in general.

Continue reading The Perks of Commuting on Two Wheels

Why is Time Important

Time is of the essence since the day we are born. But many people do not understand this because when we are young, time feels limitless and abundant. Summers felt like a year and a school year felt like two years. The math quiz felt like 4 hours when in reality it was only 20 minutes. Time in the old days just took its sweet time. Is it a mix of young innocence and more patience, or was it really a slower paced life in the old days. No one really knows and you shouldn’t care, because the past is the past. Why is time important today, because we all need to grab time and use it wisely.

I lost my mom last week and it has been hard on me. I wish I would’ve spent more time with her and talked more. That feeling when you know you will never speak to a loved one again is tougher than I ever imagined. This is why time is important. The opportunity to not waste time is evident every day of our lives. It is right in our face, but what do we do, we just don’t realize that it could be slipping away minute by minute.

Continue reading Why is Time Important

Finding Time in Today’s World

So lately I keep hearing the term I need to find more time in random conversations, and I must admit I believe I’ve used the phrase on occasion as well. But I will say it is a bit of excuse to use that expression, as we all can realize as much time as we want. The secret to finding time in today’s world is literally to just take it. If you focus on the time you have to get things done and not waste it, you will always have time. The thing with time many people can’t grasp is, that a simple choice makes all the difference.

By assuming action and not procrastinating you will realize that time is there for the taking. Time is a virtue for anyone who is virtuous enough to say, “I can make time”. I know some of you are tired of the philosophical twist to this post, and want me to get to the point. OK the point is, finding time in today’s world is an excuse we can and should not use, because time is now and we have plenty of it.

Continue reading Finding Time in Today’s World

How Candy Crush makes you Poor

Hey Friends, did you know that Candy Crush is Taking over people’s minds every day by the minute? That little app has blown up to the tune of millions and millions of users, happily plugging in hours a week playing a useless game. I will show you in the post below how Candy Crush makes you poor in various ways. This game can not only drain you fiscally, but can damage you to the point you feel poorish in other areas of your life.

Granted this game craze is not a new phenomenon, do you remember the Tetris and Bejeweled addiction? Well Candy Crush is along the same line and premise behind those two games. Here is the difference that all of you will be stunned to know, Candy Crush executives are raking in 690,000 thousand dollars a day from its users. Say What! Tetris and Bejeweled never made that kind of money; boy technology has benefitted the app developers hasn’t it. It boggles me to wonder how much time is being wasted in the millions of households playing this game.

Continue reading How Candy Crush makes you Poor

Money is not the problem, it’s Patience

When you look at your checking account and you see a big fat zero, you may think to yourself dammit I am feeling broke. The next few days you mope and complain that you can never make enough Benjamin’s in this life. The last few months the bank account incurred several overdraft fees. Why is all of this bad misfortune happening to you? One Simple answer to the myriad of complaints listed before, because of the reflection in the mirror. You Have No Patience! People wake up, as the lack of money is not the problem. When you lack patience it makes you do things on impulse, which results with spending above your limit.

Let’s do a big picture exercise, multiply your income X the number of years you have been working. What does that equal? Then add up how much of that you have saved? Kind of low when you compare it to all the income you have made in your entire lifetime.

Example: Average US Income 35 thousand X 5 years working history = 175, 000 dollars. How much of this have you saved? KEEP YELLING YOLO HUH!

Pick up your jaw off the floor now because this is the truth and now you must face it. Many of you want things now, and you will not take no for an answer. If that is how you want to live life then expect to be broke. Also expect to work forever, why because that impatience is taking away from the years you can retire early. I will propose something right now to help anybody struggling out there. Relax and take time to do things. The new summer wardrobe you have to have, it can wait. The new flashy Audi you have been desperately seeking for, it can wait. The yearly 4 thousand dollar vacation you have to take, it can wait. When can the time come to enjoy some fruits of our labor? See below for two very important money equals patience guidelines.

Money is Not the Problem, it’s Patience Checklist:

– Get Patience in Check. Control it now

– Do a Simple Budget, Income Minus Expenses should = Surplus

– If No Surplus cut things immediately

– Save up for raining day fund aka to avoid adding new debt

– Revisit budget to constantly improve upon it

– Track Net Worth Monthly

– Systematically Remove Debt and Increase Net Worth

– Stalk your checking account, from home computer or Cell Phone App

– Keep improving on patience to not fall victim with Money Issues

When can the time come to finally do what you want and not have to worry about money? Simple Solutions:

When you are debt free (Excludes Mortgage)
When you are consistently saving for retirement 15% or better(401K and Roth IRA)
When you are giving / generous $$ without hurting your budget 5%
When you have ample surplus to do what you want with cash
When you can invest in stocks for a retirement back up plan 5% or better

Patience is just as important as the ability to earn money – Rich Uncle EL

Comment if you agree with money is not the problem, it’s patience?

Rich Uncle EL

Watches equals Value

I wanted to do a post on a topic that I have never read before anywhere else and something that is different than my usual posts. I did internet research and even interviewed a few watch dealers to get this valuable information. I am fascinated with watches and a thought came to me one day. What watch brands hold their value or even increase in value as time passes? The list below is a great list with excellent brands, but unfortunately cost an arm and a leg just to get your hands on some of these. So if you want to invest in one of these you better start saving now because they are costly? Obviously if you are in the market for one of these you should be debt free, on solid financial ground, and have a huge net worth before attempting to buy one of these time pieces. Make a new budget category labeled future watch purchase, hahaha.

I have heard through the grapevine that wealthy individuals actually invest in timepieces as a way to hedge part of their money against other risky investments in their portfolios or to place surplus money in a hard asset. Have any of you heard of anything like this? Would you consider this for your own investment strategy if you could? If you knew for a fact that certain watches equals value would you drop a few thousand and make a purchase?

Examples of Hard Assets:

Jewelry (Gold, Silver, Precious Stones)
Real Estate
Cars, Planes, Boats
Watches
Vintage Furniture / Artwork
Machinery ( For Businesses)

The important thing to consider when purchasing one of these watches is first and foremost is to decide what movement you desire and if it is made by the company itself or not. Automatic, mechanical, quartz, and Solar are the only options for watch movements. By far the automatic movements with a power reserve (powered by your mobility aka Kinetic) are pricier than the others and it will hold its value longer. In addition to the complications mentioned before always make sure that the movement is Swiss made as this will pay off later in eventual resale. You will see a small print in the face of the watch that will verify if it is or not Swiss made. In addition to this if you dig a little further you can find out if the movement is a Valjoux which is a highly respected and recognized movement. The retail prices of most of these brands range between $1,500 – 80,000+. IWC and Omega are on the lower end of the price range and Patek Philippe and Jaeger LeCoultre are on the higher range price point. The companies who market their brands too heavily are disgraced by watch collectors because they are more mass produced in the world of watches and thus eventually will not increase in value. Quality over quantity is a key lesson for watch aficionados. This is something to consider prior to a time piece purchase.

Best Watches equals Value Brands:

-Rolex
-Bremont
-Cartier
-Blancpain
-A. Lange & Sohne
-Patek Philippe
-Jaeger LeCoultre
-Vacheron Constatine
-IWC*
-Omega*
-Breitling*
-Audemars Piguet*
-Zenith
-Sinn

If you notice there are some brands that are not mentioned here like Movado or Oris, I do recognize that these two brands and a few others as being good for certain target markets, but overall they do not increase in value as the brands on the list if they do at all. Granted other companies offer excellent watches, but the value of certain brands tend to stay level.

Important fact and a distinction people overlook is for what purpose you are buying this timepiece whether you want this time piece to be for everyday wear or for special occasions? Always remember that you should look at purchasing a timepiece that is timeless literally, because then you can pass it down to your heirs. Even though most of the brands on this list might be considered luxury and can cost more than what the average person might want to spend. It is important to understand that this category of watches aka luxury are the ones that increase in value over time while the budget based watch categories do not. (Examples of budget based brands: Seiko, Citizen, Bulova, Timex, Invicta, Swiss Legend, Fossil, etc.)

Companies who are honorably mentioned for having excellent timepieces but did not make the list: Hamilton, Tissot, Bell & Ross, Momo Design, Oris, and Tag Huerer. (Value increases if any will not be as substantial) Also any watch made by a fashion designers like Coach, Versace, Michael Kors, or Gucci is blasphemy for real watch collectors, but might hold a special place for certain brand lovers. They are hell bent on making a fashion statement rather than making a fine time piece. Also to all you Michael Kors watch loving people, did you know that fossil is the maker of their watch movement? Enough Said.
-Getting a watch that will increase in value and could possibly be triple its worth in 15 years is another example of watching your money!

RichUncle EL

PS: Ask Men has a cool section called the watch snob where the author answers any questions you may have with luxury based watches.

*The series and movement of these brands will determine if the value will increase.

PSS: Rolex is the most recognized brand and it is renowned worldwide as a timeless brand. Pic By Rolex

Time is Money

Have you heard this saying before? If you answered yes then you are not alone, this phrase is one of the most popular phrases of our time and for many decades. Benjamin Franklin is quoted as the originator of this quote. But do you take it for what it is literally or do you really grasp the meaning behind it? I have this exact quote up on this website if you look 45 degrees to the right you will see a cool watch with money representing the old adage of the phrase.

Even if you are not obsessed with the meaning like I am, I think we all can use our time more effectively. Can I ask you a simple question? What would you be doing right now if you did not have to work for earned income from a job? If you ask me that question I would probably be doing something relating to sports. Biking, running, swimming, strength training, basketball, even rowing for gosh sakes, all of these activities is what I would do be doing. I would alternate each one of these every day until my bones yelled at my brain to stop the torture I am placing on them. I am exaggerating of course, as I am a family man and I will definitely spend the majority of the time with them, I cannot be that selfish.

At times I wonder when I am at lunch all those guys I see on random occasions, bike riding around town as if they are already in the retirement stage and can do as they please. Well if you plan now early in life you can realize it sooner than later, because you guessed it, Time is Money and money can buy you time. Freedom from being tied down to a desk, from scrubbing a deli counter, or from doing the myriad of jobs in this world. The ultimate Freedom is a sweet pleasure only a few folks and retirees can speak of. But you might say to me, RichUncle EL I like my job and I’ll say to you, more power to you and ask you, but would you do it if you had an income stream of 5 grand a month from investments? What will be you’re answer? You will never know because you are not taking the steps to gain the freedom to live your life the way it is supposed to be. I see people who waste funds living great now, but how long will that last or how long will you have to work later to pay for your retirement because you live extravagantly now.

The average person works about 35 to 45 years and then retires tired and jaded because it took so long to be free. Now why would anybody want to be so far away from freedom for the majority of their life? If you could make or take a few small steps now that may potentially save you 15 years later, why wouldn’t you do it? Most people get corporate jobs to gain financial freedom, but does it really buy you that freedom if you do not take advantage now.

Continue reading Time is Money