Everyone is trying to give advice on what to do with your money. There are numerous programs, infomercials, etc. Many charge a lot of money and make big promises and then you find out it was a scam, bad advice, etc. on all my investments last year and over 500% over the last 3 years. I’ll tell you how to thrive in 2006 and make it the best year of your life. And the best thing is that I will not charge you a penny. This is real and all my tips are easily verified. Make 2006 your best year yet!
1. Fire your commission-based financial planner. Get a fee-based financial planner (google it). Commission based like Prudential, American Express, Allstate, etc… will only show you products that give them great commissions. In other words, you won’t get the help you really need. And much or all of your earnings will look negative and go to waste in these hefty fees. You need an unbiased financial planner to find you the best investments and see which company has them. Fire your commission-based financial planner.
2. Never buy whole life insurance! Basically it’s a great moneymaker for the agent (commissioned financial planner), it’s their highest commission product, why do you think they push you so hard? You just need to remember two words: TERM LIFE! Sell term for twenty years. You’ll save a ton and it’s super cheap! Get your life going and you won’t have to worry about a thing after those twenty years. Remember that term life is good, all life is bad.
3. Learn to stop buying on impulse. If you can’t pay cash, don’t buy it. Tear up your credit cards except for one emergency card. The sole purpose of a credit card is to generate huge profits for the bank or store that gave you that card. If you have debt, make a plan to pay it off. A fee-based financial advisor can help you with this. Remember, accessories don’t make the man, owning his own home and being financially independent does.
4. Take 10% of your disposable income and invest it. Pay yourself first. Works. If you can arrange for your employer to deduct it from your paycheck or make it automatic, that’s best. If you don’t see it, you won’t miss it. If your employer has a 401K program, maximize it. Especially if they have a percentage matching contribution, that’s free money. $50 here and $100 there may not seem like much, but it will add up fast. And the larger your investments, the more you will generate. The rich have learned that they can only earn so much themselves, but their money can grow to the point where it will earn much more than you could ever earn. Start saving and investing.
5. Switch your car insurance to Progressive: Regardless of what the commercials say, they’re the lowest price, the best service, and the best deal, period! Think your local agent and those paid sponsors work for free? They get paid with their highest fees and commissions (it has to come from somewhere). Remember it adds up: An extra $200 – $800 saved per year from your insurance properly invested will be worth $20,000 really fast.
6. Invest in DRIPs – Direct Reinvestment Plans. Many of the top companies have these and allow you to invest for very low or no trading fees (some even give you a discount so you actually end up paying just for investing, I like that). Exxon Mobil (XOM) and Cross Timbers Oil Co. (XTO) are hot oil DRIPs. XTO has experienced a growth of more than 1200% in the last 3 years. buy it You need to have a good and solid participation in the oil and energy sector. They don’t have the best dividends, but with their growth, who cares? I also recommend buying natural gas: Piedmont Natural Gas (PNY) is the most stable and safe player in this field. Big dividends and rock solid – won’t give you the XTO earnings, but will average out some of the peaks and troughs. buy it Remember to diversify, so look for a financial DRIP like Banco Popular (BPOP), a large Spanish bank ready for a takeover that pays big dividends.
7. For instant diversification, steady growth and strong dividends, use an ETF (Exchange Traded Fund). Unlike mutual funds, ETFs can be traded throughout the day just like stocks. Choose an ETF that tracks a higher or lower stock index (for better diversification). I recommend IJR – it provides the best growth and dividend yield of any ETF. Buy IJR. Remember not to put more than 20% of your investment portfolio in any one stock or ETF – diversification is the key to building great wealth.
8. Learn that no matter how hard you work for someone else, you will never be paid what you are worth. You will only be paid what you are worth when you realize this and decide to start your own business. Do your homework first and choose something you like that can become a source of income. Remember that 70% of new small businesses fail primarily due to poor planning. You will make mistakes, we all do, but it is how you interpret those mistakes and what you learn from them that makes the difference.
9. Whatever your religion, pray and read your bible. If you trust and have faith in God, you will be provided with what you need. The above steps will provide you with financial freedom and wealth. If you let him, God will provide you
understanding, happiness, meaning to life and less stress. Studies have shown that people who pray and have faith are healthier and live longer. What good is all that money if you can’t enjoy it and help others with it? Volunteer. Being a Big Brother. Help others. Once you’ve been successful, help others do the same. Pray, read your bible and volunteer.
There you have it: if you follow this advice, you will certainly be well on your way to financial freedom and happiness. And there are helpful and more easily proven tips here than in all those infomercials and books you see on TV like no down payment real estate, best vitamin, paytrading, etc. Fire your commissioned investment adviser. Stay away from Whole Life and only buy Term Life – you’ll save tons. Learn to pray and read your bible. Do yourself a favor and print this. If you care about your friends, give it to them. Put it on your email lists. If you believe in helping others and making the world a better place, pass it on to everyone you can. These stock ideas and tips will give you and everyone else solid earnings for years and a greater opportunity for financial freedom. The best thing is that it didn’t cost you a hundred.
Just do me a favor and visit and promote my sites listed below (www.mdwholesale.com and http://www.bestskinpeel.com).
