Hope for your financial life and beyond

Life Insurance: The Most Important Things You Need to Know

The topic of life insurance is one that many do not like to discuss. The reason is simple – it involves death, most notably our own. And since death routinely shows up on lists of common fears, its obviously something we choose not to think about.

life insurance

Next to purchasing quality health insurance, I believe this is the second most important insurance a person should buy.This is because there is nothing you can do about it once you are gone. You can’t buy a life insurance policy after you are dead. You can’t provide any financial comfort to those left behind once you are in the ground.

See what I mean about life insurance? Even writing those sentences brought a tinge of emotion I’d rather not feel. That’s what makes it so easy to avoid dealing with this.

But we have to. Life insurance is a big piece of the puzzle to our financial lives – even if we, as the deceased, will never see any of the money.

What is Life Insurance?

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How to Be Sure Children Should Get Your Inheritance Money

The question comes at some point in everyone’s life – “Who will I leave my inheritance too?” If you are in your 20s, the thought probably hasn’t crossed your mind yet. But it’s most definitely been thought of by people in their 40s, 50s and beyond, especially those who have a family, money and other assets.

inheritanceWe all hope to live as long as possible. With modern science advancing at leaps and bounds, life spans are being extended to 100 and beyond more and more often. But, in the end, we all know these two realities of life to be true:

1. Our death will occur at a fixed moment in time.

2. Nobody knows exactly when that moment will be.

How interesting that death brings with it aspects of certainty (we will die) and uncertainty (when?). That dualistic nature of death is fascinating. Perhaps that’s why issues surrounding death and what will happen after we are gone remain difficult to discuss. We simply don’t like thinking about anything that relates to the end of us.

But we have to think about it for there is so much at stake. Mess up our death and it could impact those left behind for generations to come. Today we will look at one aspect of death you need to consider – whether or not to leave an inheritance to your children.

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How to Invest 1,000 Dollars at Age 18

A while back, I had a conversation with a former student of mine who is looking to invest in the stock market. He was in college and had some money sitting around that he didn’t need for school. He wanted to know how to invest 1,000 dollars and whether it was realistic or not at this time of his life.

how to invest 1,000 dollarsHis situation was similar to what many 18-year-olds face. They’ve worked full-time summer jobs since they were 16 and maybe even part-time ones during the school year. Their college expenses are taken care of either through scholarships or the bank of mom and dad. The money they have earned is just sitting in their savings account drawing little to no interest. Does it make sense for them to do something else with it, like beginning to invest?

The answer is “YES…it absolutely makes sense” but with a very big “BUT…”.

Before I get to the “BUT…” though, lets look at some assumptions about 18-year-olds that are going to impact how they invest and where they put their money.

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20 Flexible Part Time Jobs For College Students

Every fall about this time, parents are gearing up to send their kids back to school. In some cases, that means sending them to college. It’s an expensive proposition putting a child through college. But there are so many part time jobs for college students that can help bring in some extra spending money.

part time jobs for college studentsMore than likely, students have figured out how to finance college tuition, student fees and room and board. However, there are so many hidden costs of college for which students don’t prepare. These little incidental items can certainly add up. So, unless an endless stream of cash is flowing from mom and dad, students will need to secure some extra spending money.

The big question though is, what part time jobs can reasonably be done by college students? Yes, you could work a full-time job and attend classes but that’s not what most students are looking for. The average student just wants enough spending money to go to parties, put gas in the car and pay for their books.

With that in mind, here is a list of 20 part-time jobs and activities that could earn a college student a little bit of extra spending money.

Part Time Jobs for College Students: On Campus

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Secret Advice For Teenagers Who Love to Spend Money

You know who you are – teenager who loves to spend money like it’s going out of style. You spend money faster than it takes a Snapchat to disappear. Money comes into your hand one minute and flows out like water the next.

spend moneyAnd you like it that way!

If that’s you, I have some special advice today. It’s unusual, maybe even secret advice. I’m pretty sure you’ve never heard an adult say this to you before. In fact, your parents may hate me for saying this because it might go against how they have instructed you to handle money. So I’m actually running a big risk here.

But before I reveal this big secret about spending your money, you have to promise me something.

The promise I’m asking you to make is to read this entire post. You are going to love what I have to say about spending money but you can’t take it as stand alone advice without understanding the bigger picture. As they say, the devil is in the details. So I’m asking for five minutes of your time to help you avoid failure on this issue.

Ready for the big, secret advice? OK, here goes…

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What to Invest in When You are Scared to Invest

There are times when the stock market causes real fear for investors. It’s scary to see the markets and your portfolio value go down day after day. This is especially true for those closer to retirement. At times like that, it’s hard to know what to invest in or whether one should be investing at all.

what to invest in

You can’t discount the power of fear. Even the most seasoned investors get it from time to time. However, those who have been investing for a long time know something that perhaps a beginning investor doesn’t know – fear is not necessarily an excuse to stop investing.

But fear could be something that prompts you to reevaluate what to invest in. Market downturns are a great time to look again at your portfolio and analyze your strategy. Every time I’ve done that, it has actually served to calm me down. It reminds me that I am following sound investing practices that will serve me well in the long run.

There is good news if you are scared of the markets and don’t know what to invest in. There are a couple simple strategies to follow that can help you sleep easier at night. Here are several to consider that will help you put your fears to rest.

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How to Push Through the Scary Questions at the Start

ID-10083769Do you want to finish what you start this year? Maybe you have made a New Year’s resolution and aren’t confident you can do it. Or maybe there are simply so many unanswered questions and doubts in front of you it’s becoming overwhelming.

Finishing is huge for our psyche. It gives us so much confidence that we think anything is possible. It releases pressure and tension when we finally reach our goal. Finishing creates momentum and catapults us forward to even greater things.

Related Content: Winning is More Valuable Than Losing

Unfortunately, we don’t start at the finish and get those great rewards. We start our journey at a more logical place – the start.

The start of anything can be a very confusing place to be. It’s exciting and scary all at the same time. And the start is always full of questions like…

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What I’d Tell My 20-Year Old Self about Financial Freedom

the futureEnjoy this guest post today from blogger and website owner Joseph Hogue as he shares his ideas about financial freedom.

The best lessons come from our experiences even if sometimes it’s our biggest mistakes. I’ve made more than a few mistakes in life. Fortunately, I’ve learned from at least some of them.

I think most of us can relate to Brian’s story of getting financially real from a mistake even if it took a while to figure it out. I have a drastically different interpretation of financial freedom now versus what I thought it meant earlier in my life.

It would be great to go back and clue my 20-year old self in. Maybe a quick slap on the head is what would be needed for this stubborn former Marine. I can however be happy that I learned from my misguided idea of financial independence and that it set me on a path to fulfillment in the future.

Before reading how financial freedom has changed for me, ask yourself, what does it mean to you? Then see if it changes after you read my story.

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5 Tips for Getting Started with Individual Stock Trading

Despite what you might think or have heard, not all investing is created equal. There is a big difference in investing in the stock market and investing by trading individual stocks. Both are classified as investing. But in reality individual stock trading is quite different from traditional investing.

The biggest difference relates to time frames. Individual stock trading is more focused on short-term movements in the market. Trades are done frequently based on the up and down movement of the individual stock. Stock traders try to gauge the momentum of the market and use things like technical analysis to give them an advantage in trading.

Traditional investing has a more long-term focus, spanning years and even decades. Instead of focusing on individual stocks, long-term investors traditionally rely on mutual funds as their investing vehicle of choice. Mutual funds provide more stability and spread your investing dollars around over many different stocks. In that way, they create instance diversity for your money.

There are times in the markets history when stocks have been red hot. In fact, in the last couple of years, the indexes have been climbing higher and higher, setting new records along the way. At times like this, individual stock trading becomes enticing. And with new options to invest in, like the few bitcoin stocks that are moving higher, people can be drawn into this time of investing.

It’s important to remember though that there are things to consider before trading in individual stocks. Even when things are going great, you must always be aware of the risks. Otherwise, you might get yourself into a lot of trouble. Keep these tips in mind if you are interested in individual stock trading.

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6 Financial and Emotional Considerations Before You Retire Early

reasons to retire earlyThink you have some good reasons to retire early? It is exciting…the thought of leaving your career and setting aside the accompanying stress that it produces. In fact, you may already have begun to plan how you might be able to do that 10 or 20 years before your retirement benefits are available.

It’s a lofty goal to retire early. But it’s a decision you must be sure about. You can’t just wave a magic wand to make it happen.  It takes planning and deep consideration of all the financial and emotional reasons to retire early before you pull the trigger.

To that end, it would be wise to consider the following issues as they relate to early retirement. You may find after working through them that you want to hold onto that career for a few more years.

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Make More Than You Think Working From Home as a Bookkeeper

Today I’d like to welcome Tim Chaves, CEO at ZipBooks. Tim previously founded and sold two small businesses, and holds an MBA from Harvard Business School.  In this article, he’ll share the ins and outs of how you can make money on the side – or as a career – being a bookkeeper. 

bookkeeperWhat would your reaction be if I told you you could make $15/hour or more doing accounting work from home?

“No,” you’d probably say. “I’m not an accountant!”

And you’d be right — about the fact that you’re not an accountant! But not about your potential to earn that money on the side, from home, doing accounting work.

What a lot of people don’t understand is that a trained accountant often does several different types of jobs. They may do taxes, audits, financial planning and bookkeeping.

But here’s the key: not all of the tasks an accountant does require an accountant to do them. And that’s why I want to focus specifically on bookkeeping.

What Is a Bookkeeper?

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