Building Financial Wealth

What is United States Currency Going to be Worth 10 years From Now?

2009-08-11T18:37:00.002-05:00

They say that money is one of the hardest things to get and one of the easiest things to get rid of. Have you ever heard that expression? This is one saying that has held true for years. Money can’t buy you love, but it sure helps to have it when you need it. Wouldn’t it be great to never have to worry about money again? To be able to do what you want when you want, how you want, whenever you want? The old expression “watch your pennies and the dollars will take care of their selves” doesn’t have as much meaning today that it had 40 years ago. Now the copper a penny is made out of is worth more than the penny it’s self! Soon the penny probably won’t even be part of the US currency.

The government is printing out so much money these days that the dollar isn’t going to be worth nearly as much if this doesn’t get under control. Our currency isn’t even backed by gold anymore; it’s backed by notes or IOU’s. I don’t know what kind of affect this will have for the next generation, but it isn’t going to be an easy thing for them to get out of. Where is the government going to get the money to pay off all the debt the United States has accumulated? Where will they find the money to pay off the National Deficit? In my opinion, the next generation is going to have one hell of a time straightening this mess out. With the government printing out all this new currency, does that mean that a loaf of bread 10 years from now will cost $100.00? Will the minimum wage be $60.00/hour? Who knows what’s in store for the United States if we keep going the way we are.

I suggest that everyone finds some kind of secondary income to help you down the road!

How Much Money Is Enough?

2009-08-06T18:52:00.003-05:00

The question of how much money is enough arises all the time. You think about the millionaires and billionaires like Bill Gates, Warren Buffet and Donald Trump and think to yourself how could you possibly need all that money? How much is enough is based on the individual. To some people, money is all that matters to them. To other people, they could care less about how much money they have. Living pay check to pay check is no big thing.

I for one am happy the way things are. To me being happy with your self and the people you are with is the most important. Don't get me wrong, I would love to have millions rolling in, but that hasn't happened to me and it's okay. I keep plugging away at my life and try to stay happy. Everyone has their down days, but if you have more up days then down, life should be good.

I am a firm believer in trying to make money online and to be able to work from home. If it can eventually get me out from working for someone, I would love... it. It hasn't happened yet but I will keep trying. I suggest to who ever reads this that you keep trying to. Try to save for a rainy day and your golden years as much as possible. You will feel better about yourself if you start to build up your net worth. Trust me, I know! The more money you start saving the more secure you will feel. If you have some money to fall back on in case of a emergency, the less stress you will have. Stress is not good for anyone!! I will keep working on my online business and I suggest that you start one also. or something that interests you.

Take Care,

Gary Kohnke

Are Your Investments Starting To Rise?

2009-07-28T05:25:00.003-05:00

My last 2 statements on my 401K and mutual fund investments are starting to increase. It sure is nice to see gains instead of losses. It has been quite a while since we have seen steady gains in the stock market. Does this mean that the recession is over? I can't answer that and I don't think that the best fund managers can answer that either. All I know is that my investments are starting to come back and I hope that is a trend will see for a long time. I know a lot of people that have taken some big losses are their retirement accounts and I happen to be one of them. Fortunately for me, I have the time to wait it out. ( I Hope) Unfortunately for a lot of people they didn't.

When it comes to retirement accounts, make sure that you check them often and move your funds around according to your needs. Do not have a larger part of your investment in aggressive growth funds if you are nearing or at retirement age. You can't afford to take big hits if you need the money now or very soon. Move your funds to cash accounts, Cd's, money markets, something that isn't so volatile. Keep it where it is making small gains and isn't losing money for you. That is your best bet when you are ready to retire. You can keep a small amount in aggressive funds, but only keep up to 20% in those type of funds. Put in aggressive funds what you feel comfortable with. In other words, only put in aggressive funds the money that you don't need right now.

Happy Investing!

What is United States Currency Going to be Worth 10 years From Now?

2009-07-23T16:49:00.001-05:00

The Over Whelming Power of Money

2009-07-17T08:46:00.002-05:00

Live Life To The Fullest

2009-07-11T11:18:00.002-05:00

Are you living your dreams? Making the most out of what life has to offer? Doing things that you never thought were possible? The answer from most people is NO. The reason that most people just live life is because there not willing to do what it takes to push forward with their dreams. You need to step out of your comfort zone and start doing different things that you are interested in. Start to do what it is you really want to do! You can just keep doing what your currently doing, but ask yourself: Is this going to get me where I need to be 1, 2, 5, 10 years from now? If the answer to this question is no, then you need to mix up your life a little and start doing things that you weren't willing to do before. Start some new adventures for yourself and family. Think of things that are the most interesting to you and then figure out a way to have fun with it and make some money with it also.

Do what most people aren't willing to do and you will have what most people don't! This is a saying that I have been living my life by for a long time. Don't ever let people say that you can't do something. If they are telling you that you can't do it, then surround yourself with people that are more optimistic. Don't let negativity run your life. Be positive and positive things will happen to you. Live you life to the fullest because we only get one chance. Make the most of it!

To Your Personal and Financial Success!

Is The Economy Sinking?

2009-07-08T18:13:00.003-05:00

I have been watching the stock markets very closely and my head still is spinning. I'm not sure how to read our current crisis. It seems to me that one day the stock market is rocking, and then the next day it's not. The Dow's average doesn't seem to be moving anywhere. Are stocks at a bargain price right now? There not if the market doesn't start rising again.

My suggestion right now is to move a good portion of your stocks in to money market accounts or Cd's. At least you will earn some interest in these type of accounts. Keep some of your money riding in the stock market, but keep a large portion of it earning some interest for you. If you see the stock market on a steady increase, then move more money in to stocks. I still think that mutual funds is your best bet because you keep your money diversified. The old saying use to be " when interest rates are low, stocks will grow". I don't think that holds true today. Interest rates have been down for a long time and the stock market is not growing! The stock market has been stagnate. So for now, just sit back and keep your eyes and ears open. Wait for your best possible opportunity, and then jump in.

To your Success.

Credit Card Debt

2009-07-02T09:37:00.003-05:00

Have you ever heard of the financial advisor Suze Orman? She is always on TV giving out personal finance advise. She has done a 180 degree turn on credit card debt. She use to tell you to pay off your credit card debt with the extra cash you have at the end of each month. Now she is saying to take that money and build your emergency fund first. An emergency savings fund should equal 8 months of your current take home pay.

I think that is great advise because in today's economy, you never know what will happen with your job. You could be laid off today and then what? So the advise that she gives is to pay your minimum payment on your credit cards and start to save for emergencies. After you build up 8 months of savings, then turn your attention to paying off your credit cards. I agree with this advise 100%. Everyone needs a emergency account to fall back on in troubled times.

To your personal and financial success!

Is The Recession Coming To A End?

2009-06-25T09:53:00.002-05:00

reports show that the recession has bottomed out and the worst should be over. Orders to US factories surged last month from aircrafts to computers. Also, business investment rose by the most it has in the last 5 years. Still in May, housing was very weak. The Fed's also decided to leave interest rates a lone this time.

What does this mean? No one really know because one day you are hearing that the recession is ending and then the next day the DOW Industrial drops a percent or 2. There is no one out there that can really predict the future. Hopefully this recession is ending and the US economy will thrive once again.

Start planning for your future so that you don't have to worry about how the economy is doing. Start a home based business to protect you and your family financially. Doing Paid Surveys is still in my opinion the best way to start. After you have some checks rolling in, start a different business until you are making enough money to work for yourself. Take control of your financial future today!

Losing Your Home in Bad Times

2009-06-20T09:30:00.003-05:00

I was watching a show on Oprah the other night and they were showing all these people that lost their homes and are living in Tent Cities. I became extremely depressed after watching this show and felt very sad for these people. The city officials were shutting down these Tent Cities because of them being unsanitary. I understand the unsanitary problem, but then where to these people go? Don't let this happen to you!

Start working on making a extra income stream so this doesn't happen to you. Most people think that this would never happen to them until reality sets in. If you are like most families, they are living pay check to pay check. One hick up in there income and they are very close to bankruptcy. Don't count on big businesses to take care of you. They will let you go in a heart beat if their profits are down. They look at you as a number and not a person. They won't care about you if your on the streets and homeless. All they care about is making their big profits. Start generating some income through paid surveys and then you can venture on from there. Don't become a statistic, become an Entrepreneur!

Is The Recession Ending?

2009-06-13T07:43:00.003-05:00

Maybe the recession is starting to end with the DOW Industrial having these small increases. Small increases every day might mean that the stock market is starting to settle down. Hopefully this means that they are starting to see a end to the recession. I personally rather see small movements on the stock market than big swings every day. Big swings in my opinion means that people are just jumping in and out to make the most of each day. I feel that when the stock market has small swings, people are starting to get more comfortable with the market and aren't moving their money around as much. No one really knows, but I hope are economy is starting to get back on track and there will be more jobs for the people who unfortunately lost theirs through these trying times.

Happy Investing!

Mortgage Rates Are On The Rise!

2009-06-07T09:34:00.003-05:00

The Feds are starting to raise mortgage rates so if you haven't refinanced, now's the time to do it if it makes financial sense for you. When does it make sense to refinance? You have to evaluate a few things:

Are you going to live in the house for a extended period of time?
Can you at least drop your rate by more than a point and a half?
What are the closing costs and how long will it take to pay that back?
Is it financially advantageous for you to refinance?

These are just a few questions that you would want to answer for yourself before you go a head a refinance. Refinancing just to lower your monthly payment, is not a good reason to do it. Make sure that it is financially going to benefit you before you do it. Make sure that it fits with your financial plan. Always keep in mind that you are trying to build your net worth first! Making payments to yourself should always be your first option. Happy mortgage hunting for those's who are looking to do so.

To Your Financial Success!

Investing in Yourself is Always The Best Option!

2009-06-02T15:39:00.002-05:00

People have often asked me what is the best thing to invest in? My answer to them is to invest in yourself! Is there anything that you use and are passionate about? What kind of hobbies do you have? Do you play golf and if so, what type of equipment do you use? If you are in to nature hiking or mountain climbing, what type of equipment to you use the most when you are climbing. There are so many items all around you that are made somewhere and you already know about them. These are the companies that I look to invest in. Once you have decided what it is that your passionate about, then do your research to see if they are worth investing in. But remember one thing, "never invest money that you can't afford to lose"! If you are looking for safer investments, then look at mutual funds. They are a lot safer then investing in individual stocks because they are already diversified.

I wish everyone Success and Happiness

Is buying a new car a smart investment choice?

2009-05-30T11:37:00.002-05:00

I always believed that buying a new car was never a good investment. Now with Chrysler filing bankruptcy and General Motors on the verge of filing, it could pay off to buy a new car. There were Chrysler dealers selling new cars at 50% discounts. You also could get 0% finance rates for up to 60 months. The deals on new cars have never been better than they are right now. A few years ago, I always believed in buying slightly used cars and letting someone else take the depreciation hit. Now buying a new car looks like a good choice. Believe me, I never like to see people losing there jobs and companies going out of business, but someone will buy these cars and the government will back the warranties. Remember though, if you can't afford to buy the car in 3 years, then I believe you can't afford to buy the asset. That is a rule I have been living by my entire life. Who wants to pay for a car for 5 years? I certainly don't. Anyways, good luck to your financial future and being happy is always my first option.

To your success!

What is The Right Amount of Money to Save For Retirement?

2009-05-23T20:20:00.002-05:00

People have often asked me what is the correct amount of money to save for their golden years. I only have one answer to that, "as much as you can"! Obviously, the more money that you save the better off you'll be in your retirement years. A rule of thumb is to put at least 15% of your gross income in to your retirement plan. The more money you make, the less you will be able to put in to your 401K plan. There are rules set by the government on how much you can actually put away. These rules were established so that the rich couldn't just put all their money in to their retirement plan to avoid paying taxes on the money. I am not sure how much you can actually put in your 401K, but you can also start putting money in to your own IRA accounts if you maxed your company retirement plan out. There's rule about that also, but a good account would know what to do. Unfortunately for me, I am not in that situation. I wish everyone good health and great investing!

The DOW Roller Coaster Ride!

2009-05-14T18:39:00.003-05:00

Watching the DOW Jones Industrial these days is like riding a roller coaster. One day its down and the next day it's up. I guess that we just have to take the ride and see where it lets us off. I hope that some day it will settle down and start to take us for a steady ride. All the experts are saying that the recession has peaked. I'm not sure what that means, but maybe the economy will start to settle out and grow at a sustainable rate. Hopefully the stock markets will start to show a steady return and all of our investments will be on the rise again. Until then, we'll just have to ride the roller coaster until we can get off. Hopefully all of us won't be getting sick! I wish everyone good health and happy investing! Until next time, ride the roller coaster.

Happy Investing!

Paid Survey Program

2009-05-10T11:05:00.002-05:00

My team and I have researched a lot of Paid Survey programs and have found most of them to be frauds. I have talked to the owners and some of them laugh at how bogus there programs are. The funny thing is, they are laughing all the way to the bank. I hope that you haven't fell victim to some of these programs as I did. We have found a few of them that actually run legitimate businesses and are dedicated to helping there customers. You can visit my website to read our reviews. If you have any questions, please write back to me.

http://www.moneytakingsurveys.com

Interest Rates at Record Lows!

2009-05-03T17:52:00.003-05:00

With the interest rates being so low, now would be a great time to refinance your house if your rates are at least a point higher then what you would get when you refinance. There are a lot of mortgage companies offering no closing costs which is a great incentive to refinance. If you are planning on staying at your house, then getting a shorter term would be your best bet. If you are waiting for the real estate market to bounce back and you are planning on selling, or if you are currently selling your house, then going with a 30 year fixed or a adjustable would be your best move. The bottom line; if you are planning on selling soon, then going with a shorter term loan won't really help you to pay down the principle that much and it would increase your monthly payments. Why put more money in to the house then you have to? If you are planning on staying for a long while, then the shorter term loans would really help you to pay a lot less interest. Evaluate your situation and then make your move! To your financial wealth.

I wish everyone financial and emotional harmony.

Gary Kohnke

Is This Economy All Doom and Gloom

2009-04-26T07:49:00.002-05:00

In today’s financial market which is all doom and gloom, a lot of people are looking for ways to better secure their financial outlook. It is my opinion that now is the time to take steps on controlling your financial worth. Do not depend on other people or corporations to take care of you. All corporations look at their employees as a number. In other words, when their bottom lines are down, so are their employees. When they are in the red, cutting their staff is always their first option to try and get their company back in the black.

Do not become a statistic, start building your security for the future right now!!!

To Your Success!

Some Times You Just Need to Relax!

2009-04-22T18:28:00.002-05:00

After working all the time and not getting enough relaxation, you just need to take a break. What ever it is that you are in to, go ahead and do it to clear your mind. I work all the time so I am going fishing for a long weekend. I will get back to the grind stone in a few days hopefully with a clear mind and a positive attitude.

I feel that in today's society we all try to push are self's to hard. Maybe you have kids that are in to activities and you are constantly running them around. Maybe you work a lot of hours a week or work 2 jobs to take care of your financial needs. Maybe you stay home and take care of the kids and house all day. What ever it is, it is okay to slow down for a while and refuel. That is something we all need before we hit the wall!

To Your Peace of Mind!

Free Credit Reports

2009-04-19T13:14:00.000-05:00

One of the best ways to control your financial profile is to check your credit report. It is a good idea to see what they have on you. Some times you can find bad reports on you that don't even belong there or you can also dispute reports that you feel are unfair or incorrect. If you can't get them to remove it from your report, you can put in your side of the story. Two of the big Credit Report Agencies are Equifax.com and Experian.com. You can get your credit report once a year for free. They also have to show you your credit report if you get denied for a loan. I highly recommend that you get your report to make sure that you are in good standings. The better your credit report, the more it will save you financially. A good credit report gives you better interest rates on loans. Also, if you have multiple credit cards and you don't use a couple of them, take the time to cancel them so they aren't on your credit report anymore. When getting loans, the less open lines of credits you have, the better. It doesn't hurt your credit if you are personally checking your report. Start getting to work on this right a way!

To Your Success!

Paid Surveys, Are They Worth It?

2009-04-13T15:25:00.000-05:00

I wrote a article on Paid Surveys as I believe it is still a good way to earn money and prises. If you think about it, why not do some surveys while you are on your computer to gain some extra income to put towards your net worth savings. Most of them are quick to fill out and some of the survey companies have free software to help you fill them out quicker. Give it a try and let me know what you think? I would be very interested to know. I will be posting more wealth building tips soon so stay tuned!

Try To Supplement Your Income.

2009-04-08T19:02:00.000-05:00

A good way to build your Financial Wealth is to supplement your income. Is there anything that you are passionate about? Is there a way that you can possibly incorporate that in to a small business? If you can find something to do so that you can start to work from home and turn a small profit, this would help you to get more money back on your tax return. So even if you were breaking even or turning a small profit, it would help you to get more money back on your income taxes. Give it a try and see if you can use that money to build up your Financial Profile.

Create Tax Deductions!

2009-04-06T17:51:00.000-05:00

When trying to build your financial wealth, it is always a good idea to get some kind of income stream other then your job. If you were to start some kind of home business, it would give you some great tax deductions which would in turn help you to save money. Taxes are one of the biggest expenses we all face. Some people think that it is their house, but think again! The way our government is spending money, I can only imagine the ways they will figure out on how to pay it back. Start working on your own financial wealth because that is the best way to financial freedom.

Live for today, forget about tomorrow!

2009-04-03T15:28:00.000-05:00

I remember my grandmother always telling me to watch my pennies and the dollars will take care of themselves. Have you ever heard of that expression? Now the copper in a penny is worth more then the penny its self! There are so many people today that don’t live by that philosophy. Why were people in the olden days more money conscious then they are today? Social Security is worse now than it has ever been. In the earlier years, they did not have to worry about getting their social security checks after they retired. Now, none of us know if Social Security will even be around.

Start to build your financial wealth so that you don't have to depend on our government. I don't know if their trust worthy enough. The polling says that all politicians are all crooks. I have to agree with them. Start putting money in your retirement plan immediately! You'll be amazed at how fast it will add up.

Liiving pay check to pay check!

2009-03-29T11:47:00.000-05:00

Most people that I know live from check to check. What if there's a hick up in your job? What if you were to get laid off? Would you be able to survive on your savings account? Will you make enough money on unemployment to cover your financial obligations? The answer for most of us is a astounding NO! The first thing to do is save enough money to be able to get through 6 months if you were to lose your main income stream. Start to put 10% of your net pay in your saving account right away. I know that this sounds hard to do at times, but this is your first step in building your financial worth. If you do this first, you will be able to get by. Don't touch this account unless it is an emergency. The more money you save, the better you'll feel. Don't make excuses and start building your net worth with your next pay check.

Spending money is a lot easier then making it!

2009-03-24T18:15:00.000-05:00

My father always told me that getting rid of money is a lot easier then saving it. Boy was he right. Money is one of the hardest thing to get and the easiest thing to get rid of. Some people don't even know what they spend their money on. Have you ever taken money out of the bank and the next day or to it's gone? I have done this plenty of times. A friend of mine told me to carry a pad of paper for a week and write down everything I buy. I did it, and couldn't believe all the money I wasted. I'm not a big believer in budgets because then you are just dooming yourself to your current income. Always pay yourself first! If you have a retirement plan at work, join it. put at least 10% of your check in your plan. you won't believe how fast that account will grow. There is no better investment then the power of tax free compounding. the earlier you start, the more you will have in your later years. Start building your net worth today!

Live for today, don't worry about tomorrow!

2009-03-20T07:11:00.000-05:00

I know a lot of people that live by this philosophy. Why should I save my money, I could be dead tomorrow? Is the phrase I hear from some of the people that I know. Well, let me say that unless you have some terminal illness and are laying in the hospital ready to go, chances are you will be around for a while. My father is 72 years old and has had 2 heart surgeries, has been in the hospital several times for hernias and is still play golf 3 times a week. The better medical technology gets, the longer it means that most of us will be around. Excuses don't build wealth, action does! Stay tuned for my next money saving tip.

To your health and wealth!

Build Wealth with less credit card interest!

2009-03-17T18:05:00.000-05:00

First of all I want to say yahoo!!!!! to the DOW being up again. Going up 5 times in the last 6 trading days has to get everyone excited. Maybe the economy is heading in the right direction. No one really knows, but the big investors must be hearing something they like. Lets just hope that we are heading in the right direction.

Credit card companies are designed so that once you get in to debt and pay the minimum payment, you will never pay it off. They love having people in that position. What a lot of people don't know is that if you call them and ask them to lower their interest rate, a lot of them will drop your rate. "Simply by asking". Tell them that you have other offers that are much lower then they are. They won't want to lose you as a customer. A lower rate is better then nothing. If this doesn't work, play the credit card game! Take the offers that give you a low rate and transfer your balance to them. I've seen offers for 0% for 12 months. Remember to cancel your current card after you do that so you don't have to many open credit lines on your credit report. After you do this, "Do Not" use your card anymore. If you can't afford to buy it with out using your credit card, then you can't afford it! Always live with in your means.

I wish everyone financial success!

Net Worth, What is it?

2009-03-14T10:31:00.000-05:00

First of all, seeing the DOW rise 4 days in a row has to have some people excited. Maybe my mutual funds are on the rise! I sure hope so.
I think that building your "net worth" is very important. The earlier you start the better. Net Worth is the bottom line after you subtract all your financial obligations. In other words, take the value of your house, cars, saving accounts and what ever other investments you have and then subtract out your financial obligations. What you still owe on your house, cars, credit cards and what ever else you owe on. The bottom line is your Net Worth.
One tip I have on saving money is with your Insurance Company. Raise your deductible as high as you feel comfortable with. Low deductibles might make you feel good, but they don't do you any good. They say you shouldn't even report a accident under $500.00. Raising your deductibles will lower your premiums. Take that savings and add it to your savings account!

The DOW up 3 days in a row!

2009-03-13T07:33:00.000-05:00

It sure is nice seeing the DOW up 3 days in a row. I'm not sure what that means, but maybe it's a sign that the economy is going in the right way. This doesn't mean that the recession is over, but I think that it is a good time to start to buy mutual fund shares. I never stopped through out this whole economy turn down. I know that if the US thrives once again, my mutual funds will be a great investment. I have never been one to buy individual stocks because the risk is to great. Besides, I don't like to have all my eggs in one basket. Now is the time to start building up your net worth. I think CITI Bank showing a profit has the bulls running once again.