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Let’s face it. Most of the financial advice out there says something like this, “If you make on average $60,000 per year…” Most of the advice is designed for baby boomers about to retire. The young generation 35 years-old and under are not going to relate when their incomes range from $25,000 to $40,000. True their income may rise someday but there is a good chance it could decrease with the onslaught of lay-offs, downsizing and cost cutting. The wages their parents earned who worked at companies like GM making a combined income of benefits and wages in the $65 per hour range are not likely to be around in the future. Many of these companies have two-tier wage systems that hire new workers somewhere around $24 per hour (benefits and wages combined). Not only are low wages going to be a problem but also lack of employment opportunities, high interest mortgages, expensive college education, lack of social security income and major cut backs in all federal spending. So what strategies should a young person making his/her way in a “tough times” economy to do?

The biggest advantage young people have is their age. Compound interest is a very powerful force that is likely to make or break a retiree. By putting away only $200 per month from the age of 30 and compounding it at 9% interest a young person could have around $500,000 by the time they are 67 years-old. Double that amount and you could be well over a million dollars. With a 401K offered by your employer it becomes very easy to save because it is pretax dollars that you don’t have to think about.

You may also choose to put your money into a Roth IRA. Generally, the money is taxed before it is put away and then you don’t have to pay taxes on it in retirement. Not a bad deal when it has compounded for 30 years. The best retirement utilizes a combination of the two. It is beneficial to put away money automatically in your 401K and set a goal of putting away $100 or $200 per month into a Roth IRA.

One may also consider reducing the cost of big expenditures and saving big money. The housing market is beginning to cool as baby boomers are leaving the market with their large incomes. It won’t be long before appreciation on houses has returned to a mediocre percent such as 3%-5%. As a young person trying to show his or her financial stuff they may want to buy the nicest houses they can get. Unfortunately that nice house also comes with a large mortgage payment. A good rule to follow is that your housing cost should not be over 25% of your household income. For example, If my wife and I make 70,000 (two young professionals at $35,000/year) than we could have a house that costs $1,400 per month. Because we are financial savvy, with a lot of energy, we bought an older house with an $800 per month mortgage payment, put our sweat equity in it, and watched its value increase 20%. Because we were under our $1,400 limit we also bought 10 acres for a nice cottage at $300 per
month. Now we are increasing our long-term assets at a cost of $1,100 per month. What happens to the savings? Well they go into our retirement account.

Of course one of the best ways of saving money is diverting your expenses into investments. Basically, “You don’t buy what you don’t need!” Go to discount grocery stores, take cheap vacations within driving distance, buy good quality clothes at discount prices, and stick to a solid budget. It is much easier to save money than it is to make more. Keep in mind that even though you don’t look as wealthy as your friends you are probably much wealthier financially. Trust me; no one gets out of college making a hundred thousand dollars a year. Therefore, don’t try and make your self look like it.

Murad Ali is a two-time published author of “A call to greatness” and “An American Mecca that deals with the economic and political reform. He is the author of The Muslim Times, runs a consulting business, is a doctoral student and a farm owner. For more articles written by Murad visit www.muradenterprises.org

Are You a Winner? What does it take to be a winner? Winning is really nothing more than an attitude. How is it that, although you are doing the exact same things as the next guy, the end results are not the same?

Let’s examine what ingredients make up a winning attitude. Whether you need to win a crucial athletic feat, shed a destructive habit, or accomplish financial security, you won’t miss if the following elements are utilized:

1. One day at a time

Whatever your goal is, do not get overwhelmed with the enormity of the task. Decide right at the outset to set attainable short-term goals as you go along. What can you accomplish today towards your long-term vision? Every day that brings results is an affirmation that you will be able to do the same tomorrow, and so on.

2. Stick-to-it-iveness

Keep on keeping on. Do not allow yourself to get discouraged and give up. You never know how close you are to the breakthrough. Your next move; the next day may be the one that will transform your destiny.

3. The right tools

Do you have the right tools for the job? If you want to win Olympic gold, do you have all the athletic abilities and training necessary? Do you want to become a network marketing success? Then you need to do your due diligence in studying the best marketing strategies, getting niche products, and consistently applying what you’ve learned. “Get rich quick” schemes come about only with hard work and consistent strategic effort!

4. Look forward; not back

The past is good only for learning what not to do, or applying the techniques developed to bring about success. It is of paramount importance, however, not to dwell on past failures and mistakes. The moment is Now. Go forward toward your dream.

5. Forgiveness

What does forgiveness have to do with winning? Get rid of all the bad feelings you have against those who have hurt you – whether deliberately or not. Past hurts will hold you back. Let go; move on and prove to yourself that you Can do it. Remember, though, you are proving Yourself; you’re doing it for You. Doing something in anger, resentment or retaliation of any kind will block your creative juices from flowing and rob you of the joyful satisfaction that accompanies success.

6. Gratitude

Develop a habit of thankfulness. Show gratitude to those who help you along the way. Take a few moments every now and then to reflect on all the good things you have, i.e. family, friends, education, affirming individuals, talents, etc. The bible states: “whatsoever things are true, .. honest, pure, lovely, and of good report… think on these things.” (Phil. 4:8)

7. Inspiration

Have a daily quiet time with God. The Lord says that if we delight ourselves in Him, He will give us the desires of our heart (psalm 37:4). The more you are attuned to Him, the more you will hear His voice and His leading in your everyday life. Whenever you get to a point where you think you cannot do it or go any further, remember and recite out loud this encouraging verse: “I can do all things through Christ who strengthens me.” (Phil. 4:13).

8. Expectancy

Once you have the vision as to which path to follow to success; then expect great results! Thank Him for your success – yes, before you can even see it. “Faith is the substance of things hoped for, the evidence of things not seen.” (Heb. 11:1). As well, the Bible tells us to make all our requests known to God. If He gave you the vision, the talent and the drive to follow your dream, then He will see you through! Write down your vision, paste it on the wall in front of you, and speak it out loud every chance you get. Faith comes by hearing and hearing by the Word of God! (Rom. 10:17)

Now, go on, Just Do It! Prosper and Be in Health, even as your soul prospers. Yes, that’s also in the Bible. It’s God’s Will that you prosper in every way. (John 3:2).

Ann Stewart
Montreal, Canada
Author, With Wings as Eagles
http://www.lifealteringwords.com
ann@lifealteringwords.com

Ann’s passion is to help others live an abundant life in every way.

For those in the business of writing copy for advertisements, websites or public relations pieces whether they are for commercial, non-profit or government agencies they know it is not easy. It is an art and a science and all of that and more all wrapped into one. Writing copy for online or offline media is difficult and it is essential that you understand your audience to make sure that you are conveying your message correctly.

Often small business owners make small mistakes in their promotional and advertising material and forget who they are talking to. Generally they go on and on about this or that without getting into the head of their potential clientele or current customers. When they fail to make contact they do themselves a complete disservice.

Now a days building a website and putting your business online is easy, but are you doing it correctly? Sure there are many website building companies in every city and hundreds of web hosting companies, but more importantly is how is your website observed by your future customers? I recommend a website content review for all small businesses. It is worth spending a couple hundred dollars to have this done and a few hundred more to fix it. There are many companies, which can do this and you should look for one, which specializes in the following things web content creation, editing and copy writing. I recommend WordFeeder.com and there are other companies as well with some of the same skills to a lesser degree I suppose?

One great thing about the Internet is you can pick a company, which is anywhere because they can review you site and make modification from where ever they are. Think on this.

“Lance Winslow” – Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/wttbbs/