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3 Ways to Achieve Financial Independence – wikiHow

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Three Methods:Living Within Your MeansMaximizing Your IncomeDeveloping Wise Savings StrategiesCommunity Q&A

However you interpret the concept, financial independence requires a lifetime of responsible, well-informed financial decision-making. For some, the term might indicate the moment you will no longer rely on your parents to cover all of your expenses. If this is a goal of yours, check out How to Start Saving to Become Independent. Later in life, the mention of financial independence may conjure the aspiration to cover living expenses without working, as many people hope to do during retirement. Whatever your personal goal, there are sound financial strategies you can implement at any age that will readily help to increase your financial independence.

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Set specific goals and stick with the plan. Understand that achieving financial independence is a long-term process. Speed bumps on the road to financial independence are inevitable. Overcome temporary setbacks by sticking to a responsible financial plan. If you focus on each financial goal you set for yourself, always look for options to increase your income and reduce your expenses, and save strategically, youll steadily improve your financial stability.

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3 Ways to Achieve Financial Independence – wikiHow

Victoria Mutual Resources | Home of Financial Independence

We all have dreams that we want to fulfill and here is where you can start making those dreams a reality.

At Victoria Mutual, we believe that Financial Independence means having clear financial goals, documenting specific plans towards achieving these goals and being satisfied that you are making progress towards these goals.

We have customised products and services combined with the proven expertise to help you to build your Financial Independence.

Are you ready for the journey?

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Victoria Mutual Resources | Home of Financial Independence

Solutions 4 Financial Independence: 8/22/17 – WDTV

BRIDGEPORT, W.Va (WDTV)- Question: My dad recently passed away. He had a Roth IRA as well as a 401(k). As a non-spouse beneficiary, can I roll over the accounts into my personal Roth IRA and 401(k) accounts?

Answer (John Halterman, Beacon Wealth Management): “Let’s start with, can you roll the money over into your personal account? That answer is actually no. Only spouses can roll over a Roth IRA into their own Roth IRA and a 401(k) can be rolled over into your own Ira. But in this type of situation since you are not a spouse, what do you need to do is what we call an inherited Roth IRA or an inherited IRA. So both of those can be rolled over into an account, it’s going to be in your name, just not going to be in your personal Roth IRA and 401(k).”

Q: How with the taxes affect me?

Answer (John Halterman, Beacon Wealth Management): “The Roth IRA, because it’s a Roth IRA, it’s actually going to be tax-free in the future to him. When you rollover money into an inherited, you do have to take what we call the required minimum distribution. But in the Roth portion, because of the tax for account there will be no taxes. Now for the 401(k), because it’s going into an inherited IRA, and you have to take required minimum distributions, those will be taxed as ordinary income. One’s tax-free and one’s going to be taxed.”

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Solutions 4 Financial Independence: 8/22/17 – WDTV

Could this miner help you secure financial independence faster than … – AOL UK

With its story capturing the imagination of so many private investors, it’s no real surprise that 1.2bn cap polyhalite producer SiriusMinerals(LSE: SXX) remains one of the most traded stocks on the London Stock Exchange.

Last week’s interim results made reference to “excellentprogress” being made on the company’s Woodsmith Mine and associated infrastructure with development progressing on time and on budget.

Having completed all highways and enablement works and most of the preparations at the site, CEO Chris Fraser stated that the company now eagerly anticipated the commencement of shaft sinking activities. He also reported that Sirius was continuing to engage with commercial partners around the globe and that interest in the company’s POLY4 product “remainsstrong”.

Of course, there’s still a very long way to go and many hurdles to overcome before the mine becomes operational, which probably explains why the share price is still struggling to stay above the 30p mark. Nevertheless, I remain bullish on Sirius and its ability to grow its investors’ wealth steadily over the next few years, particularly with the company now comfortably occupying a space in the relatively stable FTSE 250 index following its move from the junior market.

For those who simply can’t wait for next four years to elapse however, there may be an alternative.

It may be a minnow compared to Sirius butBluejayMining(LSE: JAY) is quickly winning friends thanks to the potential of its relativelylow-cost Pituffik Titanium project in Greenland –independently verified as being the highest grade ilmenite mineral sand deposit in the world.

According to today’s interim results, Bluejay’s work programme for the year is now “welladvanced” with managementaiming to begin constructing the mine plant in early 2018 and a full exploration licence expected during H1.Offtake discussions with potential customers are progressing and likely to conclude within the next 3-6 months.

Thanks to the levels of visible ilmenite concentrations being so great, Bluejay’s proof-of-concept bulk sampling programme is also “exceedingexpectations” to such an extent that stockpiling is now forecast to begin far earlier than planned assuming production rates can be maintained. This puts Bluejay in an excellent position to begin selling its product as soon as the relevant licence is received.

Like Sirius, Bluejay’s project has been warmly received by the local community as well as many government and environmental agencies. June’s oversubscribed placing — allowing Bluejay to boast a net cash balance of 5.8m at end of H1 — also means the company’s popularity among institutional investors (including Prudential plc) continues to grow.

The shares have climbed over 200% since last August, leaving the company with a market cap of 136m. Based on comments from CEO Rod McIllree however, the coming months could be “equallytransformative”. In time, he believes that the Pituffik project could completely transform the titanium industry. All this before Bluejay’s wider asset portfolio in Greenland and Finland is even considered.

While mining projects carry significant risk, both Bluejay and Sirius could be excellent medium-to-long term investments for those determined to become financially independent. That said, while the North Yorkshire Moors are a far more hospitable environment than that faced by Bluejay, it could be that the latter’s relatively simple production model could reward holders a lot sooner.

With their ability to generate huge capital gains for investors, it’s no surprise that mining stocks appeal to those investors keen to secure financial independence sooner rather than later.

Despite this, there are also far less risky ways of obtaining financialfreedom, some of which are outlined in a BRAND NEW special free report from the Motley Fool’s analysts.

The Foolish Guide to Financial Independence is available completely FREE of charge and comes without any obligation.

Grab your copy here.

Paul Summers owns shares in Sirius Minerals. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes

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Could this miner help you secure financial independence faster than … – AOL UK

Money Money Money: Here’s how one can achieve financial independence – Moneycontrol.com

Aug 19, 2017 04:43 PM IST

Independence, the true meaning of this word dawns upon us only when we don’t have it. This holds true for a nation, it holds true in our lives and it also holds true with respect to money and our finances. As India celebrates yet another year of independence, Money Money Money explores the concept of financial independence with Anuradha Rao, MD & CEO at SBI Funds Management Private Limited.

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Money Money Money: Here’s how one can achieve financial independence – Moneycontrol.com

How to retire early with financial independence in 3 steps – NBC2 News

NEW YORK (CNNMoney) — Millennials are the first generation to shun traditional retirement and seek financial freedom instead — when income from savings is enough to cover expenses, and working becomes a choice, often long before the age of 65.

Becoming financially independent and retiring early, a process known as FIRE, can be achieved at any income level by saving a high percentage of your salary, or cutting your expenses — or both. CNNMoney profiles people who’ve reached financial independence early and on their own terms.

On a recent Wednesday afternoon, 29-year-old J.P. Livingston sat at an outdoor cafe in New York’s West Village, wrapped in a cozy sweater, sipping tea and talking about her current project: retirement.

Livingston says she quit the workforce last year with $2.25 million after working in finance for only 7 years.

Let the Baby Boomers have their “retirement,” with its delayed gratification and uncertain benefits, say an increasing number of young people like Livingston. Instead, they are gaming their income, saving rates and investments to become financially independent and retire early — a process known as FIRE.

While Americans commonly spend most of what they earn and fall short on traditional retirement savings, today’s young people are the first generation to plan for financial freedom: 63% of affluent Millennials prefer financial freedom over retirement, while 37% are saving to leave the workforce altogether, according to a study from Merrill Edge.

Anyone can achieve financial independence simply by saving a lot. Most people who are able to quit the workforce at a very young age do it by saving at least half their income.

And Livingston sets the bar pretty high. She saved at least 70% of everything she made for 7 years. And she chose a career — and a city — that would help her do that by maximizing her income, despite the high cost of living.

She had a mission. What else would you call it, when you start planning your retirement as a teen?

“I’ve wanted to be financially independent and retire early for years,” Livingston said, recalling wandering around bookstores as a tween and being drawn to books on early retirement.

Sure, she had a few things going for her — more than most: She managed to graduate from Harvard University in three years with no debt and some savings. She also landed a very high-paying job in finance that came with a six-figure income that increased exponentially over time. And she had a plan that made it possible for her to reach financial independence before she and her husband started a family and expenses inevitably grew. (A new project for her retirement: having a baby. She recently learned she’s pregnant.)

But her nest egg is self-made. Even though her husband still works, Livingston’s own savings are enough to cover both their living expenses — around $67,000 per year — for the rest of their lives.

“I came from a family that grew up really poor,” said Livingston, who now writes under that pen-name on her blog about retiring early, TheMoneyHabit.org. “My family constantly reminded me that it was important to focus on providing for yourself.” She prefers to remain anonymous to protect her privacy in revealing sensitive financial information. (CNNMoney has independently confirmed her identity.)

Livingston’s fast-track to financial freedom was strategic, with each stage building on the next. First, she focused on her income, then on building her savings, followed by investment growth. Now that she’s reached retirement, she’s focused on tax optimization.

Here’s how she did it.

Super-charge your income

Instead of moving to an area with a low cost of living (an easy way to slash expenses), Livingston doubled down on New York City.

“You can find the best job opportunities here,” Livingston said. “I couldn’t have found my job in Omaha, Nebraska. Maybe in Chicago, but I’d be paid less. I was paid the most here.”

She worked hard to continually boost her income, which came through salary, raises, bonuses and commissions. When she first started working she was earning six-figures right out of the gate. Her starting salary was $60,000, plus incentives, which could easily double her yearly pay. But it only went up from there. Over the years, she increased her salary significantly, earning promotions with raises upwards of 30% along the way. By the time she quit her job, her paycheck was in the mid-six-figures.

A major feather in her cap was not having any debt, especially student loans.

“I was very aware of how expensive Harvard was,” said Livingston. “I decided I should just get out early.” She paid for school through scholarships and her family’s savings. Graduating early allowed her to avoid paying additional expenses and move directly into earning an income.

Even if you go to a less expensive school, she says, if you can get it together to graduate a year early, you can avoid taking a loan for that year or, if you have the savings, “you can park that $20,000 in the market and start earning.”

Crank the savings rate sky-high

Livingston’s hard-core formula to reach a 70%-plus savings rate: income minus expenses equals savings.

When friends called her to go out, she’d steer them toward the most affordable social engagements: “I’d love to see you! Can I join you for drinks after? Or are you free for brunch?”

In addition to offering her a high income, New York’s higher density offered her ways to save. She was able to live car-free and found that higher earning people getting rid of great stuff led to super deals on Craigslist or curbside.

“We had a gorgeous, pristine storage bench my roommate found on the street with a ‘free’ sign on it,” she said. “It was one of the nicest pieces of furniture in the whole apartment.”

She also had a broad choice of living situations. She opted for a third-floor walk-up where she had a mattress on the floor and paid $1,100 a month, her first year out of college. After that she moved to a 325-square-foot fifth-floor walk-up where she still lives with her husband and dog.

While building up her savings she started out living on $25,000. Even as her salary grew, her spending only went up to $30,000 a year.

“Incremental improvements that you build into your routine will pay out not just once, but it will pay off multifold,” says Livingston. Lowering your rent by adding another roommate, saying you’ll only meet friends for brunch, coffee or drinks (as opposed to more expensive dinners), “that will keep paying off for you year after year.”

Grow the money

But you’re not going to get to $2.25 million just by skipping a few dinners. About 60% of Livingston’s net worth came from savings, and about 40% came from investing, primarily in a combination of low-cost index funds, options and municipal bonds, depending on the market.

Her expertise in the financial industry certainly helped juice her investment returns.

Once your savings are substantial, she says, the tweaks you make to your investments will have much more impact than any changes to your spending or saving habits.

For example, if you earn $70,000 a year and have regularly saved a significant portion for a few years, you may have between $120,000 to $150,000 in savings. If you can get a 10% return on your investments, you’ll add $12,000 to $15,000 to your savings.

Among the proponents of FIRE, who support each other on various spaces on-line, Livingston’s accomplishment is called “Fat FIRE,” which is like FIRE, but with much bigger monthly budgets, and therefore much larger nest eggs.

She and her husband now live on $67,000 a year, an annual budget others on the path to FIRE may balk at as very high.

“That buys us a lot of cushy luxuries which include maid service and sending laundry out,” she said. “We skimp on a lot of things, but those actually end up being quite affordable in Manhattan because of the density, and are offset by the cheap rent we pay.” Plus: they don’t have a washing machine.

While her expenses are completely covered by her savings, her husband still works, but by choice.

These days Livingston is working on growing her money and helping others to do the same through her blog.

“The you that is intentional with your money and constantly looking for improvement will be that much wealthier than the one that isn’t, whatever your starting circumstances may be.”

By Anna Bahney

The CNN TM & 2017 Cable News Network, Inc., a Time Warner Company. All rights reserved.

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How to retire early with financial independence in 3 steps – NBC2 News

CNNMoney readers react: She retired at 28 with $2.25 million – Aug … – CNNMoney

The story got people talking.

Many CNNMoney readers viewed Livingston as an outlier with advantages that most people don’t have because she graduated from Harvard with zero debt and had an extremely high income.

RadicalM0derate says on Twitter: “So to retire young: get into Harvard & pay for it through scholarships and family $; save most/all of your 6 figure income for 10 yrs. Easy.”

To be sure, Livingston is in a rarefied group.

The acceptance rate this year at Harvard is 5.2%, according to Harvard. And getting any degree debt free is far from the norm: The average student debt tops $30,000.

Plus, Livingston’s mid-six-figure income put her squarely in the 1%. Most people earn something closer to the median income, which is $56,500, according to the Census Bureau.

Full story: She retired at 28 with $2.25 million

But some readers found her story inspiring, and the lessons applicable.

As Anton Mykytenko posted on Facebook, her experience, while on one end of the spectrum, is scalable: “Regardless of whether or not she received some help, she still worked to find the place where she’s paid the most versus her living costs, saved up 70% of her income, and planned early. No matter your situation, these are still things you can apply to your life. Think about how what she did can help you get ahead instead of getting outraged.”

Many people have achieved financial independence on much lower incomes, like this couple we profiled in June. While age 28 is extreme, those with lower incomes might be able to do it by 35 or 40, or by moving somewhere with a lower cost of living, or learning to live on less.

Other readers pointed out that Livingston can’t be financially independent if her spouse still works.

“She is not really retired she got married & plans on having kids & her husband still works. Like many families,” writes Patrick Landers on Facebook.

But Livingston’s savings are enough to cover both her and her husband’s expenses regardless of his income. (Plus, he has some savings of his own).

Some readers questioned whether financial independence is possible for someone who didn’t go to Harvard, and isn’t in the 1%.

One Reddit user thinks it is: “I live in NYC. $2 million is our number and we are 3/4 of the way there. Of course I made less than this woman for my entire career, went to SUNY, and still spent much of my time and money partying when I was her age. But I’m 44 and almost there.”

Related: How to become financially independent in 5 years

At such a young age, is $2.25 million really going to be enough to last for the rest of her life?

As Matthew Coldrick replied on Facebook, “Most people need that much to retire at 60. Good luck making $2m last 60 years.”

With a nest egg of $2.25 million to live on for the next 60 years, she could take out $88,800 annually or about $7,400 a month from age 29 to 89, assuming a 4% growth rate. Not living large, but certainly better off than many people, especially considering she isn’t even working.

So Livingston feels set at 29 years old with her pot of gold. Many readers wanted to know: then what?

Karren Omeara asks on Facebook: “So than what do you do with at least 50 years left?”

“Live” replied Deborah Toomey.

Even by making a few tweaks to your current finances — saving 20% for retirement instead of 10%, looking to used goods instead of new, cutting entertainment expenses, investing what you have in a way that suits your risk-tolerance — you can still get to the retirement you’re looking for. Whether it is at 28 or 58, it’s your journey, better to have more control over it now than less later.

CNNMoney (New York) First published August 4, 2017: 3:52 PM ET

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CNNMoney readers react: She retired at 28 with $2.25 million – Aug … – CNNMoney

Gain Financial Independence Attend a FREE Educational Event – FOX31 Denver

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Do you wish you could find financial independence? Are you struggling to save money, and if you can save, watching it go up and down in the stock market? Then it’s time to take charge and do something for yourself and your family. Our Financial Planner is going to show you how to get started right away, no more procrastinating! Joseph Quijano is a Certified Financial Planner, published author, and National Financial Educator. He’s hosting three FREE educational events to show you how to make your money work for you. Joseph joined us this morning to talk about how he can change your life.

The free seminars are happening Tuesday, July 18 at 6:30 p.m. in Northglenn; Wednesday, July 19 at 6:30 p.m. in Lakewood; and Thursday, July 20 at 6:30 p.m. in Centennial. Seating is limited.

If you want to find financial independence, make and save more money, and have tax-free paychecks for life at retirement, call (877)299-9957 to reserve your seats for one of the three educational and life-changing events. If the line is busy, you can also register online at BecomeTheBanker.org/Register. If you’re one of the first 10 callers to register, you will receive a free report on “How to Turbo-Charge Your Retirement.”

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Gain Financial Independence Attend a FREE Educational Event – FOX31 Denver

Independence Financial Group

Welcome to our Web site, where youll find a wealth of information in the form of newsletters, articles, calculators, and research reports.

We hope your visit will help you understand the opportunities and potential rewards that are available when you take a proactive approach to your personal financial situation. We have created this Web site to help you gain a better understanding of the financial concepts behind insurance, investing, retirement, estate planning, and wealth preservation. Most important, we hope you see the value of working with skilled professionals to pursue your financial goals.

Were here to help educate you about the basic concepts of financial management; to help you learn more about who we are; and to give you fast, easy access to market performance data. We hope you take advantage of this resource and visit us often. Be sure to add our site to your list of “favorites” in your Internet browser. We frequently update our information, and we wouldnt want you to miss any developments in the area of personal finance.

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5 powerful steps towards financial independence and retiring early … – AOL UK

Many people dream of retiring early with enough money to be able to do as they please for the rest of their lives. Turning that dream into reality is possible, as long as you take it seriously and commit to taking action.

I reckon that if you take these five steps you’ll be well on your way to creating the conditions necessary for you to retire early and be financially secure. It probably won’t be easy to achieve, but with persistence and determination, I’m sure you can make it happen.

Many fail to achieve financial freedom because deep down they don’t really believe they can do it, so they end up fighting against self-sabotage.

Accumulating a fortune seems like a daunting task when you are at the beginning of the journey, and I reckon many people have a tendency to give up in a thousand little ways along the way. Perhaps you end up blowing your savings on that holiday of a lifetime. Perhaps you keep on doing that kind of thing. If you’re striking for early retirement, that’s self-sabotage.

To be successful, I think step one is to adopt a mindset of belief and determination that will guide you on your journey and help you make better choices along the way.

With your can-do mindset in place, step two is to grab your finances by the whatsits and get in control of debts and outgoings with the aim of living below your means. It’s a well-touted concept, but it works.

Spend less than you earn and cultivate a saving habit. Plan to save, and work your plan as hard as you can. If you do that, the magic starts to happen.

This is like step two, but magnified then put into action and underlines just how important control of yourmoney is. With your domestic finances working better, step three is to really toughen up and act decisively, bearing down on personal outgoings and making hard choices. Hone the management of domestic finances until they work like a well-oiled machine so you can squeeze every penny possibleout of the leaky bucket and direct it towards your dream of financial freedom.

I’m not suggesting a life of total abstinence and austerity, just a measured, balanced and controlled approach to your finances with you firmly in charge. Every pound counts because those pounds will compound over time into many more pounds.

Now that you’ve fixed all the leaks in your domestic budget step four is to direct your creativity to earn more income. Direct the surplus you earn straight to building up your savings and don’t be tempted to self-sabotage by raising your standard of living and spending if you are already enjoying a happy and fulfilling lifestyle.

After applying yourself to building up your saved capital, step five is to make that money work hard for you by looking for ways to compound it, such as investing on the stock market.

Over time, shares have outperformed all other asset classes and you can get involved by using such vehicles as low-cost index tracking funds, managed funds, directed stock-picking services such as those offered here at the Motley Fool, or by embracing the concept of private investing completely and picking your own shares and investments.

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The easy way to financial independence – AOL UK Money – AOL.co.uk – AOL UK

Financial independence might seem like an impossible dream for many, but if you put in place a set saving-and-spending plan, and stick to it, you will be surprised how quickly financial independence can become a realistic goal.

A strict budget and savings plan is the first stage of building your wealth. The next step is investing to make your money work harder for you.

The great thing about investing is that your money can work for you even when you’re asleep. Your earnings ability will no longer be constrained by your working hours. Instead, you’ll be able to benefit from the profits of other companies and other workers.

Dividends and dividend stocks play a crucial role here. Many studies have shown that dividends provide the bulk of investment returns for investors over the long term and by reinvesting your dividends you can achieve investment returns that are far greater than the market average.

For example, if you have a 1,000 investment in a company that yields 5% per year, you would receive 50 per annum in dividends, much more than the current level of interest available on most savings accounts. If the dividend payout remained unchanged for 10years, and for argument’s sake, the share price also remained unchanged, without reinvestment you would receive a total of 500 over the life of the investment, a return of 50%.

However, if you were to reinvest these funds at the end of the period, your investment would have grown to 1,551, an extra profit of 51.

This basic example illustrates just how powerful the strengthof dividend reinvestment can be. To add to the example, let’s say the value of the share in question rose by 5% every year. This capital growth combined with dividend reinvestment makes a super-potent combination. According to my figures, in this example, if the dividend is paid only once a year, within a decade the combination of capital gains and income will have turned theinitial 1,000 investment into 2,236. Most companies don’t pay out the same dividend every year. They try to increase the per-share dividend by at least the rate of inflation.

So, let’s assume that the company in our example increases its dividend payout by 5% per annum. In this scenario, assuming dividends are reinvested, a steady share price growth rate of 5% per annum and dividend growth, 1,000 will become 2,407 by the end of the decade sample period, almost 1,000 more than the example with no dividend reinvestment.

These are only simple examples but they clearly illustrate how important dividends are and how easy it is to build wealth by concentrating on the power of dividends and dividend reinvestment. If you’re looking to achieve financial independence, this is one shortcut that you definitely shouldn’t avoid. You should try to take as much advantage of the power of dividends as possible.

Dividends are essential if you want to achieve financial independence. If you’re looking for more tips on how to improve your financial position, the Motley Fool is here to help withthis brand new free report titled The Foolish Guide To Financial Independence,

The report is packed full of wealth creating tips and,to help on your way, isentirely free and available for download today.

So if you’re interested in exiting the rat race and achieving financial independence, click here to download the report.

Rupert Hargreaves has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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The easy way to financial independence – AOL UK Money – AOL.co.uk – AOL UK

Celebrating Independence – Jewish Link of New Jersey

For the history buff and obedient American patriot Independence Day means commemorating the adoption of the Declaration of Independence on July 4, 1776. For many, Independence Day means the start of summer season. Whether that is met with joy because the kids are being sent off to camp, or whether its cause for celebration because you get to relocate to a bungalow colony full of summer friends and memories; or whether you get a little bit of reprieve from your normal all year-round working schedule it is certainly a time that is appreciated by many.. Independence is certainly something that everyone can appreciate.

It is also a milestone in the calendar where one can realize that half the year has gone by, and its a good time to revisit financial considerations that one might be trying to achieve. When it comes to finances however, there is no unanimous definition of what financial independence is. For some, financial independence is achieved when your passive income streams cover all your living expenses. For others, it means not having to work another day of their life. Some, wont feel financially independent until they are completely free from the constraints of debts. For many, financial independence might simply mean having the ability to make life decisions with money not being a determining factor. As you can see, it means to different things to different people – and certainly becomes a moving target with the different stages of ones life.

When it comes to homeownership, the resounding consensus that I hear from almost all my clients is that their goal of owning a home is to have no mortgage whatsoever. A lofty goal indeed. People assume that I am biased because I am in the mortgage business, but I quickly explain that I receive no financial benefit whether someone maintains or pays off their mortgage whatsoever. In fact, when I further discuss financial considerations, debts, income, cash flow analysis, retirement goals, life plans, investment strategies, reserve funds, and the like most people are shocked to learn that a mortgage is perhaps the safest, cheapest, and most lucrative debt out there.

There are many examples that support this theory, but for the purposes of this short article I will touch on a few core items. First, the a very common misconception of Building Equity. Everyone wants to build equity, and thats typically the main financial reason that drives renters to buy a new house. By definition, having a big mortgage is counter to the premise of building equity because the bigger the mortgage, the lower the equity. Ric Edelman, a financial advisor whose principals of finance I very much agree with and concur, has much to say on the topic of mortgage debt. Edelman is widely regarded as one of the nations top financial advisors, having been named in 2016 among the countrys Top 10 Wealth Advisors by many acclaimed publications and organizations.

Ric has a great illustration that speaks to the core misconception of equity building. Lets say someone were to buy a house for $300,000, and get a $250,000 mortgage at 4% fixed over 30 years. By making regular mortgage payments, the loans balance in 20 years will be just $117,886. The theory is, that equity grows as you pay off the mortgage and thereby the faster you pay off the mortgage, the faster your equity will grow. But this logic fails to acknowledge that this is not the only way you will build equity in your house. Thats because your house is almost certain to grow in value through appreciation. If that house rises in value at a modest rate of 3% per year, it will be worth $541,833 in 20 years! Youll have nearly a quarter million dollars in new equity even if your principal balance didnt budge. That is the real objection as to why renting is a waste of money.

Another common misconception about the financial independence of mortgages is that borrowers are always looking to minimize interest expenses. Obviously no debt whatsoever is a remarkable goal for everybody, but not very likely for the average citizen. As many know, a mortgage interest is tax-deductible, and thereby tax-favorable, as Edelman likes to say. Specifically, if youre in the 35% tax bracket, every dollar you pay in mortgage interest saves you 35 cents in federal income taxes. Many of the savings and deductions apply on state income taxes level as well. Say youre in the 33% tax bracket and you get a 5% mortgage, the true interest rate on that loan is really 3.35% after taxes. To put that into a visual perspective, if you invest money and earn 5%, your profits are taxed at only 20%, and your after-tax profit is 4.00%. Thus, even if your investments earn no more than what you pay for your loan, youre still making a profit!

It is very challenging to truly relate fully how a mortgage does not impact financial independence, and in fact will more often than not if utilized properly will be able to assist someone to achieve their financial objectives much faster and more lucratively if utilized properly. I love watching peoples faces when I am able to show them how so it truly brings great satisfaction to my work. Its certainly worth a phone call. Special shout out to the Ciment Family!

By Shmuel Shayowitz

Shmuel Shayowitz (NMLS#19871) is President and Chief Lending Officer at Approved Funding, a privately held local mortgage banker and direct lender. Approved Funding is a mortgage company offering competitive interest rates as well specialty niche programs on all types of Residential and Commercial properties. Shmuel has over 20 years of industry experience including licenses and certifications as certified mortgage underwriter, residential review appraiser, licensed real estate agent, and direct FHA specialized underwriter. He can be reached via email at [emailprotected]

Continued here:

Celebrating Independence – Jewish Link of New Jersey

These 5% dividend yields could help you win financial independence – AOL UK

Investing in companies with the ability to deliver rising dividends over many years can be a powerful way to build wealth. Share price gains often follow dividend growth, creating impressive total returns.

What’s more difficult is to find companies with high yields that still have growth potential. In today’s articleI’m going to take a look at two very different dividend growth stocks, each of which offers a dividend yield of about 5%.

Pub group Greene King (LSE: GNK) appears to be making a decent job of running a fairly traditional business. Sales rose by 6.9% to 2,073m last year, while the group’s underlying operating profit climbed 4.9% to 392.2m.

Adjusted earnings per share were 1.3% higher at 69.9p, while the dividend was lifted 3.6% to 32.05p per share for a yield of 4.7%. Return on capital employed, a useful measure of profit for a business with lots of fixed assets, was unchanged at 9.4%. That’s respectable, if not spectacular.

Greene King shares have traded unchanged since the figures were released this morning, but there was some bad news. The group’s operating margin fell by 0.3% to 18.6%, due to cost pressures and the brand conversion costs resulting from the acquisition of Spirit pubs.

The firm was also forced to book an impairment charge of 58.6m against the book value of its pubs, due to “changes in the local trading environment”. A further 34.9m of impairment was recorded against sites that were closed or sold last year. These suggest to me that market conditions remain tough for pubs.

However, Greene King’s underlying business appears to be trading well and delivering fairly stable profits. For investors seeking income, I think that the forecast P/E of 9.7 and prospective yield of 4.8% could be an attractive long-term entry point.

Air Partner (LSE: AIR) may not be a name you’re familiar with. It’s a specialist aviation services company which provides charter services to governments, corporate customers and high net worth individuals. The group also includes an aircraft re-marketing business and consultancy services.

The firm is listed in the FTSE Fledgling index and currently has a market cap of just 61m. But it’s not a fly-by-night newcomer as it was founded in 1970 and has been public since 1989.

Recent performance has been strong. Underlying pre-tax profit rose by 17% to 5.1m last year, while underlying earnings rose by 10% to 6.5p per share. Shareholders enjoyed a 7.2% dividend hike last year, giving a total payout of 5.2p per share. That’s equivalent to a 4.6% yield at the current share price of 114p.

Air Partner has made several acquisitions over the last few years. These are helping to broaden the range of related services it offers and may deliver more stable profit growth. Although the company’s profits are likely to slump during recessions, its long history suggests to me that this business has staying power.

Analysts covering the stock expect underlying earnings to rise by 20% to 7.8p per share this year, putting the stock on a forecast P/E of 15 with a prospective yield of 4.7%. I believe this business could be a long-term growth story, and is worth a closer look.

Investing in stocks such as Air Partner and Greene King could help you build a stock portfolio to fund your retirement. But if you really want to beat the market and retire early, I believe you need a clear plan.

In The Foolish Guide To Financial Independence, our investment expert Mark Bishop explains how he believes you shouldinvest to maximise your chance of an early retirement. Mark’s tips include stock suggestions and ideas to help boost your saving power.

This exclusive report is free and without obligation. To download your copy today, click here now.

Roland Head owns shares of Air Partner. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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These 5% dividend yields could help you win financial independence – AOL UK

3 steps to become wealthier and more successful – Ladders

Wealth begins with a choice. A choice requires a commitment, and a commitment leads to actions.

The most powerful words in the English language are I am.What follows those words are critical. I am thin. I am healthy. I am wealthy. I am powerful. I bring joy and energy to people around me. I am a great leader to my team facilitating growth and opportunity. I am worthy. I am powerful. I am a great dad.

Once you decide I am wealthy, in that moment you are, in fact, not more wealthy, but the path will clear ahead of you. The how you will get there will become apparent, and the obstacles that stopped you will have less power.

Use the power of affirmations. Write down the ones that empower you. Put them next to your bed and read them before you fall asleep and when you wake up. Train your brain, and it will take care of you.

If you make the decision to be wealthy, then it doesnt matter what career you have. There is a janitor mentioned in our book, Wealth Cant Wait, who gave away 8 million dollars at his death.

So the question becomes: what are the actions required to build wealth in your particular career?

The answer could be live to live below your means, save every penny and invest in index funds, or something that grows over time. But there are three other important commitments you can make.

Work hard to serve others. The habitat of being the best you can at your vocation will serve you for a lifetime. It will also lead to increased compensation, which is useful in building wealth.

Even if you dont love it, take pride in it and do your best. If this position is not for you, work hard at it, and the next door will open. Take pride in everything you do, and your next job will find you.

Ask these questions: 1. What is wealth to me? 2. What wealth do Iwant in mylife? Carefully answer those questions and be as specific as you possibly can.

For example, one important aspect of wealth is to achieve financial independence.But thatis just the beginning of the inquiry. Go deeper: what, specifically, is financial independence to you? What does it look like? How would you know if you had it?

For us, the first step to financial independence is having enough income to offset all of your living expenses with passive income.This means that money coming in from your investments dividends, rents, etc. pay for your current lifestyle.

To create more motivation and mindset to achieve your goal, ask yourself: why specifically is this important to me? What, specifically, do I get out of this? This is an emotional impact and intrinsic motivational question. You might be surprised to find that often different people have very different reasons or intrinsic motivations to achieve the same goal.

Realize that if you are successful in building wealth, eventually your entire job becomes managing your wealth. So begin now by laying out a plan toward your financial freedom.Say your goal is $10 million net worthin 20 years. Break that down to a present number and work toward your goal.

Find the thing that you love to do: play disguised at work. The more you align your career with your natural calling, the more success you will have.

Ask yourself: is work hard if you love it? Who would truly want to succeed if it required sacrifice (giving up something that is vital to you)?

Yes, you might have to limit drinking beer with your buddies to only one or two nights a week if you want to be a great student and get into a great school. Being the best at a job might require you to put in the extra effort and dive into what others shy away from. But, if you love what you do and you are passionate about the project (even if you dont love every aspect of work), then you can achieve greatness. And, if you are doing what you love to do, what are you sacrificing?

We know lots of people who work so hard that they dont have time for family, friends, or being healthy. But, we know that this is not necessary to achieve great success. Having a thoughtful, purposeful plan and staying on it sixhours a day, with zero interruptions or distractions would lead most of us to accomplish more every day that someone who works more than 10-hour days sixor sevendays a week.

If you are in a career that you dont love, know that it takes effort just to get to work. It takes effort, lots of it, just to get started each day. It takes effort to focus.

If you do something you love and are passionate about,there is no effort in getting started; the effort goes to execution. That is why we are so much more productive and successful when we do what we love. Wealth will follow.

David Osborn is Operating Partner at Keller Williams andManaging Partner Align Capital. Follow him on Twitter. Paul Morris is CEO of a RealTrends top 50 brokerage and Regional Director ofKeller Williams.Follow him on Twitter. They are the authors ofWealth Cant Wait: Avoid the 7 Wealth Traps, Implement the 7 Business Pillars, and Complete a Life Audit Today!

David Osborn and Paul Morris are the authors of Wealth Can’t Wait: Avoid the 6 Wealth Traps, Implement the 7 Business Pillars, and Complete a Life Audit Today!

Continued here:

3 steps to become wealthier and more successful – Ladders

Victoria Mutual Resources | Home of Financial Independence

We all have dreams that we want to fulfill and here is where you can start making those dreams a reality.

At Victoria Mutual, we believe that Financial Independence means having clear financial goals, documenting specific plans towards achieving these goals and being satisfied that you are making progress towards these goals.

We have customised products and services combined with the proven expertise to help you to build your Financial Independence.

Are you ready for the journey?

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Victoria Mutual Resources | Home of Financial Independence

JL Collins’ Tips for Achieving Financial Independence – The Dough Roller

It is not often that people become financially independent a mere 15 years after starting their career.

Although he didnt know it right away, Jim Collins did just that. In 1989, he became financially independent, only a decade and a half into his profession.

Jim Collins is now the author of A Simple Path to Wealth and also has his own financial blog, jlcollinsnh. He began his blog as a way to share different financial strategies with his daughter, family, and friends, that may help them become financially independent as well.

Through the past six years that Jim has had his blog, he has met hundreds of like-minded people. He has also expanded his blog to an annual trip to Ecuador, which he likes to call a Chautauqua a place where people come together to share ideas, concepts, and companionship.

In todays podcast, I will be talking to him about how he did it, his blog, and his new book, A Simple Path to Wealth. I also ask him for some tips on how we can all achieve financial independence.

Heres the podcast audio, followed by a transcript of the interview:

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JL Collins’ Tips for Achieving Financial Independence – The Dough Roller

Alabama one of the least financially independent states in the country – Birmingham Business Journal


Birmingham Business Journal
Alabama one of the least financially independent states in the country
Birmingham Business Journal
A study by WalletHub looked at various factors of financial independence among all 50 states and ranked them from most independent to the least. Unfortunately for Alabama residents, the state finished among the least independent states in the country.

Excerpt from:

Alabama one of the least financially independent states in the country – Birmingham Business Journal

Greater savings options for feds draw praise, while move to cut their retirement looms – Washington Post

For federal employees accustomed to elected leaders focused on firing feds faster and bashing their benefits, heres a little something to cheer.

Bipartisan legislation in the House and Senate would update the Thrift Savings Plan (TSP), a 401(k)-type program for federal employees, by allowing them greater flexibility in withdrawing their funds.

This might not sound like much compared to news about federal retirement cuts in President Trumps proposed fiscal 2018 budget and the movement to undermine civil service protections. Yet this little something could make life easier for the 5 million people with TSP investments worth $490 billion.

Meanwhile, Democrats have escalated opposition to the planned cuts, with more than 100 House members opposing President Trumps proposal to gut pensions. Then Trump described workplace protections as outdated laws, at a White House East Room signing ceremony Friday for legislation that now restricts civil service safeguards for Department of Veterans Affairs employees.

Currently, participants reaching the age of 59 are allowed only one TSP withdrawal while actively employed in the government. When they leave federal service, they can withdraw a portion of their balance, but only once. After that, only full withdrawals are permitted.

The TSP Modernization Act introduced Friday by Reps. Elijah E. Cummings (D-Md.) and Mark Meadows (R-N.C.), and earlier in the Senate, would eliminate those restrictions. Investors could make multiple withdrawals at age 59 and after leaving the government.

Its huge, Kim Weaver, a TSP spokesperson, said of the legislation. It is supported by the Federal Retirement Thrift Investment Board, which administers the TSP.

In a memo to the board two years ago, Greg Long, then the executive director, said changes like those in the legislative proposals will allow us to favorably respond to participant demand and move closer to typical plan design found in private and public sector plans. This set of changes will be a win for participants.

The bill would encourage participants to keep their TSP accounts to take advantage of low administrative fees even after they retire or separate from federal service, Cummings said. The legislation would give TSP participants what they want: greater flexibility to withdraw money from their accounts to address unexpected life events.

Its a win for the TSP too, which would keep more money longer.

Restrictive rules pushed many investors to transfer their balances to other financial institutions with more lenient policies but with higher fees.

Meadows called the bill common-sense reform It will give TSP recipients more access to their own funds and, over the long term, allow them the opportunity to continue taking advantage of benefits similar to those available throughout the private sector after federal service.

Sens. Rob Portman (R-Ohio) and Thomas R. Carper (D-Del.) introduced similar Senate legislation in April.

The proposals put federal employee leaders in the relatively rare position of having something from Capitol Hill to praise, as they did in letters to Congress.

Richard G. Thissen, president of the National Active and Retired Federal Employees Association, said the legislation would create opportunities for participants before and during retirement, provide greater financial independence and encourage participants to keep their money in the TSP.

Although TSP provides federal employees with extremely low administrative and investment fees, pretax and after-tax withdrawal options and an employer contribution, Thomas S. Kahn, legislative affairs director of the American Federation of Government Employees, said it does not provide sufficient options for withdrawals while in federal service, or much flexibility involving annuity payments.

National Treasury Employees Union President Tony Reardon welcomed the legislation, saying I have heard from many NTEU members over the years about the stringent withdrawal rules of the TSP the withdrawal rules have not been changed since the TSP was established in 1986 and are outdated.

While the TSP legislation gives feds reason to smile, Trumps budget plan turns that smile upside down. His proposal for a 1.9 percent pay raise for fiscal 2018 is more than offset by his effort to reduce retirement income for federal workers.

Trumps budget would increase individual out-of-pocket contributions to the Federal Employees Retirement System (FERS), base future retirement benefits on the high five years of salary instead of the high three, kill FERS cost-of-living adjustments (COLA), reduce the COLAfor those in the Civil Service Retirement System and eliminate retirement supplements for FERS participants who retire beginning in 2018.

Since 2010, federal employees have had $182 billion taken from their pay as a result of three years of pay freezes, furloughs, sequestration and increased employee retirement contributions, Kahn said. In addition to these losses in compensation and benefits, the cost of living has continued to rise. Nonetheless, federal employees save for retirement and pay into their TSP accounts.

Federal employee retirement programs are threatened, but their TSP is on the verge of getting better. Thats good, but not much consolation.

Read more:

[New withdrawal options forTSPinvestors proposed]

[New VA law sets stage for government-wide cut in civil-service protections]

[Trumps budget calls for hits on federal employee retirement programs]

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Greater savings options for feds draw praise, while move to cut their retirement looms – Washington Post

You can achieve financial independence easily by using buckets … – Motley Fool UK

Rupert Hargreaves | Saturday, 24th June, 2017

Achieving financial independence is everyone?s goal. The dream of quitting the rat race and being able to live off your savings may seem like an unattainable goal to many but in reality, to achieve this, all you need is a little planning. The key to building wealth is a regular savings plan. If you?re putting away a little every month, over time this savings pot will build up. The best way to ensure that your savings stay untouched, and grow steadily over time is to use a bucket approach. Using buckets Using financial buckets to segregate your wealth is easy way of

Achieving financial independence is everyones goal. The dream of quitting the rat race and being able to live off your savings may seem like an unattainable goal to many but in reality, to achieve this, all you need is a little planning.

The key to building wealth is a regular savings plan. If youre putting away a little every month, over time this savings pot will build up. The best way to ensure that your savings stay untouched, and grow steadily over time is to use a bucket approach.

Using financial buckets to segregate your wealth is easy way of making sure that your money works as hard as possible. It doesnt require much effort and youll soon reap the rewards.

How you plan your buckets will obviously depend on your current financial situation, savings goals and position in life. But no matter how you divide your wealth, you should be better off for it.

A simple bucket approach would be to divide your wealth between current and long-term savings. Depending on your current financial situation you may believe it is prudent to put aside enough cash to meet three months of spending obligations as protection against unforeseen occurrences.

With this cash cushion in place, you can devote the rest of your wealth to savings products with a longer horizon, with the intention of locking these funds away. Inside this bucket you may then choose to have two more buckets, one of which carries more risk but a higher potential long-term return such as equities. The other would be low risk but offer a steady return bonds might be appropriate.

The great thing about the bucket approach is that, as well as encouraging saving and making sure that you dont dip into your savings to meet near-term costs, it provides a psychological benefit.

Equities have generated a historic return of around 10% per annum, much more thanoffered by fixed interest. Nonetheless, this higher return comes with increased volatility, which may scare off some savers. But by using buckets theres no need to fret about volatility.

Research has shown that investors tend to panic when the market falls and sell at any cost, a destructive strategy. However, if you have your near-term cash requirements satisfied in the lower-risk savings buckets described above, the chances of you deciding to sell at the market bottom are greatly reduced as you can afford to wait for equities to recover.

Shares in companies such as Royal Dutch Shell and GlaxoSmithKline may fall significantly during periods of market turbulence but these companies have a long history of producing returns for investors and due to their size, they are unlikely to go out of business any time soon. Whats more, these two companies both support dividend yields that are several percentage points above the income offered by most savings accounts.

Overall, if you want to achieve financial independence, a disciplined approach to saving is required. Andthe best way to ensure that you get the most from your money is to separate your funds into different buckets, with different levels of risk and reward based on your own financial circumstances. Job done.

A long-term approach is essential for building wealth. If financial independence is your goal, the Motley Fool is here to help. Our analysts have recently put together this brand new free report titled The Foolish Guide To Financial Independence, which is packed full of wealth creating tips.

The report is entirely free and available for download todaywith no further obligation.

So if you’re interested in exiting the rat race and achieving financial independence, click here to download the report. What have you got to lose?

Rupert Hargreaves owns shares of GlaxoSmithKline and Royal Dutch Shell B. The Motley Fool UK owns shares of and has recommended GlaxoSmithKline. The Motley Fool UK has recommended Royal Dutch Shell B. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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You can achieve financial independence easily by using buckets … – Motley Fool UK