How Much Money Is Enough?

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

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

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.

Start making as much as money you can because you don't know what it will be worth down the road! I'll write more on the subject soon.

To Your Success!

The Over Whelming Power of Money

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.

Prepare yourself for what lies ahead. Start to make money online and to work from home doing something your passionate about. Brain storm until you come up with something!

Is The Economy Sinking?

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.

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

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!

Liiving pay check to pay check!

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!

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!

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!

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?

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!