Finance and proper Insurance coverage






For information on how to obtain proper insurance for your vehicle click on this link.



Finance and Retirement #7

Good advice on how to help you save money.

Some of the best advice I have ever had that helped me save money was spend more time at home. I saved a great deal of money after putting this advice into practice and I use to be the type of person that hated being at home. Stop going out to eat so much, try to limit yourself to going out to eat to maybe 4 times a month. Grow your own vegetables, I do and not only do I save money they are better tasting than store bought vegetables. Wash your own vehicle and if you can cut your own hair. I know cutting your own hair sounds crazy especially if your a woman but at the end of the year you would have saved yourself a good amount of money.

More advice on how to live frugally

I buy all my everyday clothes at thrift stores or garage sales. I have found so many brand new clothes at both thrift stores and garage sales for a fraction of their retail price. Repurpose wood, I have done this to make many of my exterior chairs and benches. I have also repurposed wood for a profit by selling chairs, benches, and rockers. Its a great way to earn extra cash with very little investment. If you do not know how to do something but you feel you could possibly be able to do it, watch a video on You Tube on how its done. I recently did this and figured out how to replace the window regulator for my automatic window in my truck and saved myself $75.

Be as resourceful a s possible

I once knew a man who put his 3 daughters through college by recycling cans. I know this may sound extreme but every day twice a day you would see him collecting cans by the high schools. I’ve heard of another man bought all 4 of his kids houses by chipping the mortar off of old bricks from houses that had been torn down. Of course he did not do this over night but he did get it done over a period of 30 years. I had a friend who worked construction with me and everyday he took home scraps of wood and brick from the dumpster, he had 2 acres and eventually built himself a house that was worth $94,000.  All these are great ideas to do more with less and save you a lot of money in the long run, for more tips on what you can do to save money click on this link.

Here is a bench I made out of a couple of pallets.



Finance and retirement #6

Questions to ask yourself to help prepare you for Retirement

In retirement there is not a one plan fits all retirement plan. There are many questions you have to ask yourself and must be 100% honest because the bottom line is you will have to live with the outcome. Questions like what kind of monthly budget would you like to live off of? What income can I count on every month? Also, will I have any dept, will I be in good health, can I earn money from my hobby? What age would I like to retire at? All these are great questions to ask yourself to prepare a plan to help you reach your goals for retirement.

Guidelines to a Healthy Retirement

A persons monthly budget has to be the number 1 question and probably the most important question also. A good rule of thumb is a person should not use more than 4% of there total retirement fund each year. This means that if you have saved $1,000,000 that you should only withdraw $40,000 each year to live from in order for your retirement fund to stay healthy. If a person were to have dept at the time of retirement, such as a house and car payment $40,000 would not be enough so their goal should be to save $2,000,000 which would give them 80,000 a year to live off of. Another very important question to answer would be what age would you like to retire at? The earlier you retire the more money you will have to save simply because it will have to last you that much longer.

Good or Bad health at time of Retirement

Nobody really thinks they will be in bad health but lets be honest there are a couple of ways to try and determine what your future might look like health wise depending on your good and bad habits and genetics. First you should always have good insurance coverage. If you are a cigarette smoker you might plan for cancer or COPD. My mother was a smoker for 43 years and had 3 rounds of cancer and now suffers from COPD. If you drink moderately, exercise regularly and eat right you should live the average life span for a person in good health. Their is one exception to this question and that is genetics, a person would have to pay attention to their parents health and even their grand parents health. Do they suffer from heart attacks, high blood pressure, cancer, strokes or Alzheimer’s because if they do, there is a chance that you might and you can prepare for it at least from a retirement stand point. All these questions are a great to ask yourself to help one start to save for retirement and for more tips on retirement click on this link.