Top 10 Quotes About Financial Freedom

Top 10 Quotes About Financial Freedom

Personal Finance - Janice Friedman - May 3, 2018

These Quotes Will Surely Inspire You   Popular quotes about financial freedom are epic financial ideas put in a nutshell or in a few words. These quotes about financial freedom help to motivate, inspire and encourage one on their financial pursuits.  In life, one main goal we all have is that we want to be financially independent. We want to be able to afford different things and experiences in our lifetime without struggling.

To achieve financial success, there are steps that one should be willing to pursue. The 3 key steps to financial freedom include:

Creating a budget or a plan

Controlling your expenditure

Sticking to your plan

A mortgage or rent is nearly always your highest living expense. Imagine if you can live mortgage free? That can mean true financial freedom.  Here are some of the favorite ways to live mortgage free. Use these motivational quotes to help you achieve financial independence.

What Does Financial Freedom Truly Mean?

Accumulating wealth is a key component for achieving financial freedom. We have accumulated wealth for a number of years but are nowhere close to where we need to be. Accumulated wealth means your tangible, liquid net worth.

Net worth is your assets minus your liabilities. Accumulated wealth definition indicates a moment in which you are completely free from you daily, weekly and monthly expenses. One has accumulated enough wealth to live completely free and never work again.

Accumulated wealth takes patience and commitment, but it is not hard to obtain financial freedom.

 To continue reading, please go to the original article here:

https://millionairemob.com/quotes-about-financial-freedom/

87 Best Retirement Quotes: Including Funny, Short and Inspirational

87 Best Retirement Quotes: Including Funny, Short and Inspirational

Personal Finance - Janice Friedman - May 28, 2019

Do you ever think about your golden years after you leave your career? Here are some juicy retirement quotes that will help you think more about it in a different way.

Are you ready to retire? A mention of the word retirement automatically provokes many thoughts to people around. Some think of the graceful age where you enjoy all that you’ve been working for, whereas some only think of problems.

Still, some may not even want to picture it out of fear of the old age and also the loss of that fulfilling career. Various retirement quotes can change your perspective about retirement and maybe paint a different lovely picture.

Whichever the case, retirement should be happy, fulfilling, as well as healthy life later after you have saved enough to sustain you for the rest of your life.

For me, when I think of retirement, I can’t manage to think of anything less than a happy, relaxing, wealthy life full of vacations.  The hard work and painful savings of the youthful years ought to pay fully for that comfortable retirement.

List of the Best Retirement Quotes

I have compiled a good number of words of wisdom or better, what I like to call the best retirement quotes that will brighten your day.  This list of retirement quotes has been compiled from various people whose words of wisdom couldn’t go unnoticed.

Inspirational Retirement Quotes

1. “Just because you are getting older and have retired doesn’t mean that you should have less confidence in your abilities. Think about the experience and knowledge that you have gained by all the years you have worked” -Theodore W. Higginsworth

2. “Retirement: It’s nice to get out of the rat race, but you have to learn to get along with less cheese.” – Gene Perret

3. “Planning to retire? Before you do, find your hidden passion. Do the thing that you have always wanted to do.” – Catherine Pulsifer

4. “Age is only a number, a cipher for the records. A man can’t retire his experience. He must use it. Experience achieves more with less energy and time.” – Bernard Baruch 

5. “Every new beginning comes from some other beginning’s end.” – Lyrics from “Closing Time” by Semisonic

6. “What does retirement mean now that there are so many opportunities for learning, for caring, for serving? We can redefine aging.” – Rachel Cowan, Wise Aging

7. “Retirement is a new beginning, and that means closing the book on one chapter to begin the next.” Sid Miramontes, Retirement: Your New Beginning

8. “Retirement gives you the time literally to recreate yourself through a sport, game, or hobby that you always wanted to try or that you haven’t done in years.” – Price, Stephen D.

To continue reading, please go to the original article here:

https://millionairemob.com/retirement-quotes/

Financial And Personal Benefits Of Watches: Stay Sharp With A Watch

Financial And Personal Benefits Of Watches: Stay Sharp With A Watch

Personal Finance - Janice Friedman - June 7, 2019

Benefits of Watches These Are The Many Benefits Of Watches, Including Financial And Personal Benefits.

Watches are an important accessory for your ongoing success. Here are some of the benefits of watches.

There are few things that are almost synonymous to financial success and prosperity. Some of them are luxury cars, luxury homes or villas in exotic locations, antique and artwork collections, not to forget the luxury watches.

Luxury watches have always been seen as the mark of success. In fact, many people still see it as a important accessory for financial and personal growth.

In this age of technological advancements and portable devices, you might be wondering why people still wear traditional watches. In this post, we shall check out why you should wear watches to stay sharp and smart to become successful, both financially as well as in your personal life.

Since many centuries, watches have been closely linked to words like professionalism and prestige. Most of the successful businesses will vouch for the fact that their watch is one of their most essential clothing accessory.

Let’s first check out why people who wear traditional wrist watches are bound to succeed financially.

For better productivity:

Time management is undoubtedly the most important priority for professionals and businesspeople alike. Of course, you can also see the time on your phone, but it can be a big distraction as well, especially while you are working.

Also, many IT companies do not allow their employees or professionals to take their smartphones to their desks, because of company policies on information security.

Watches not only allow you to look professional, but will also give out the same kind of impressions to others. They won’t look at you suspiciously, like you are spending time on social media at work, when you are looking at your watch.

You can be more focused at work, because watches allow you to work comfortably and hands-free, because you will not have to keep dipping your hand in your pocket all the time,  to retrieve the phone. Wristwatches allow you to do away with all the distractions that the smartphones cause, thereby helping you work more productively.

If you wish to become successful in your workplace, then you must definitely try wearing a traditional wrist watch, if you don’t do that already. These classic timepieces do not disturb you with countless notifications like the smartphones.

In simple words, they help you in improving your productivity at your workplace.

Priority for quality:

People who wear luxury and traditional wristwatches give importance to the quality. They admire the expensive materials and fine craftsmanship that goes into making of these lovely watches. Similarly, they look for quality on other aspects of professional lives, which helps them shine above the rest of their colleagues.

The wanting for quality also rubs off on their work ethics, which is why they are able to deliver top quality works on their projects, or businesses.

 To continue reading, please go to the original article here:

https://millionairemob.com/benefits-of-watches/

9 Instant Online Check Cashing Options To Use

9 Instant Online Check Cashing Options To Use

Personal Finance - Janice Friedman - June 26, 2018

In today’s digital world, you can easily get instant online check cashing options. The internet offers numerous cheque cashing online options to enable users cash checks from wherever and whenever they want.

Millionaire Mob has been using a number of different online jobs without investment to increase our income. Oftentimes, that leads to opportunities where we need to find an instant online check cashing option.  I’ve been a big fan of passive income, which leads to me cashing checks in various formats.

I like having cash value as fast as possible. In fact, I even had to cash a check instantly when I launched my book,  Dividend Investing Your Way to Financial Freedom.

With my various income sources, cashing a check is a necessity. I need to be able to invest that as soon as possible to start making more money from it.

People think that checks are completely obsolete. When you have a number of different income sources or participate in manufactured spending, you end up having some checks laying around.

When you receive any payment by check, you can quickly get immediate access to your funds with instant online check cashing services.

It is the fastest and the most convenient way to get money into your hands without going to a bank or a check cashing store.

If you need to cash personal checks in-person, there are plenty of options to use.

I track all my flow of cash flows via Personal Capital. It helps me track my net worth and ensure my bank account balance reflects all of my various sources of income.

Can I Cash A Check Online?

Yes! The smartphone has made the process of depositing checks and cashing them online fast and swift. The downloadable apps can help you to cash your checks instantly. A majority of these instant online check cashing services require one to link their banking information with the app.

They may also require you to write the initials (ODO) that means for online deposit only underneath. The apps also require one to take pictures of the front and the back of the check they want to cash and upload it to the app. You can just use your smartphone or any other standard phone with a camera to take the photos.

How Does The Online Check Clearing Process Work?

After taking a photo, the check then goes to a queue for approval. If cleared, the money is deposited into an account that you had linked to which could be your bank account, a prepaid card among others. If it was not linked to any account, then you will have to take an extra step which is to transfer your money to your bank account or to where you want it.

 To continue reading, please go to the original article here:

https://millionairemob.com/instant-online-check-cashing/

Ultimate Guide To Your Us Bank Routing Number

Ultimate Guide To Your Us Bank Routing Number (+ A Full List)

Personal Finance - Janice Friedman - April 9, 2019

US Bank routing number  Do You Know Your Bank Routing Number?

A routing number is a crucial number that you need when doing different transactions online or via phone.  If you are a US Bank account holder, then it’s essential to know your routing number. Here is a list of all your US Bank routing numbers.

Every time you need to send and receive money from other financial institutions such as banks and credit unions, you need a routing number. In this article, we will give you the list of all US Bank routing numbers.

If you want to make an electronic transfer, then you must provide both the account and the routing number.  Therefore, if you’re going to make a payment online or by phone, you may be asked for your checking account routing number and your account number.

If you are working online, then making online transactions is inevitable. Proven online job opportunities can either be passive income or active income opportunities.

If you want to boost your revenue, you can start various online side hustles that pay daily cash or after a little while. Reselling items online are also proven and reliable side hustles.

Besides reselling tickets, you can get into flipping phones, reselling shoes and houses to generate additional income.

If you engage in different investments like dividend investments and making money online, it will not only boost your income but also accelerate your journey towards financial freedom and early retirement.

In your wealth building journey, you’ll need to track your various investments, checking accounts and money movement.  I’ve been doing this for free with Personal Capital.

There is a difference between a routing number and an account number. So what is this difference between an account number and a routing number? Let’s evaluate.

Account Number vs. Routing Number

When you open an account with any financial institution, you will get routing and an account number. Both of which are vital to you and the bank since they help in the identification of both you the customer and the bank involved.

You will need to have both the account number and the routing number for different transactions such as direct deposit or online pay and order checks.

While the account numbers are specific to each account holder like the way a customer ID or fingerprints are, routing numbers help identify each financial institution with a unique numerical and are unique to each bank. Both are used to indicate where to send funds or the institution to receive the funds in a transaction.

Your routing number is a nine-digit number, but, your bank account number is usually a 10-12 digit numbers that are specific to your account.

The routing number is the first set on the left corner of a check and is usually pink in color while the account number is the next set of numbers after the routing number and is typically green in color. Both are between the character symbols.

What is a Routing Number?

Routing Number is otherwise known as Routing Transit number RTN sometimes called ABA American Bankers Association number is a nine-digit number that helps identify financial institutions in the United States.

To continue reading, please go to the original article here:

https://millionairemob.com/us-bank-routing-number/

9 Important Financial Emergencies and How To Deal With Them

9 Important Financial Emergencies and How To Deal With Them

Personal Finance - Janice Friedman - May 23, 2019

DO YOU HAVE AN EMERGENCY FUND?

Have you ever encountered a financial emergency? What was it about, and how did you deal with it? Here, we will explore some of the most common financial emergencies and how to deal with them.

9 Important Financial Emergencies and How to Deal with Them

Have you ever been in a situation that requires you to use some finances which you had not anticipated?  In life, we’re sometimes faced with sudden inevitable occurrences. Whether a sudden sickness, job loss, or sudden demise of a loved one, different financial emergences occurrences require us to dig our pockets deeper to fix them.

I’ve been using Personal Capital to plan for a financial emergency. I can use it to monitor my emergency fund and see how much cash is embedded in my net worth. Best part it’s completely free to use.

Financial freedom is all about having the flexibility to live completely free without any burden even if there is an emergency. Even if you’ve achieved financial freedom, building some sort of buffer in your financial plan for financial emergencies is important.

Before we explore more on the different types of financial emergencies and ways to deal with them, let’s look at what a financial emergency is first.

So, What are Financial Emergencies?

Financial emergencies are unexpected situations that require one to use some money that they didn’t intend. What happens when you find yourself in need of cash abruptly from an unanticipated event is what is referred to as a financial emergency.

If not resolved on time, it can pose immediate grave repercussions. These emergencies can occur at any time and in any circle of life, including at home, and work and more.

Since you can’t prevent some of these emergencies, the prudent thing to do would be to plan for them. That is, make sure that when the unexpected event occurs, you have some cash stashed somewhere to cushion you from the impact.

Although you cannot entirely plan for everything, having a fall back plan or some backup is always crucial.

List of Most Common Financial Emergencies

Here are 9 of the most severe financial emergencies you are likely to encounter.

Major Medical Emergencies

Some health or medical emergencies are beyond our control, and no matter how much we try to stay healthy and fit, they still occur. Although we all want to believe that we won’t get sick, planning for such things before they happen is the best thing to do.

 To continue reading, please go to the original article here:

https://millionairemob.com/financial-emergencies/

The Overfinancialization of Everything

The Overfinancialization of Everything

You can't DCF your life.

Author  Jack Raines   September 08, 2022

If you are addicted to social media (I am), you probably saw a certain "net worth" TikTok make the rounds last week.  If you don't want to watch this embodiment of pure cringe, I'll give you a quick summary:

Guy with $500k net worth (really cool!) goes on a date night with his wife. He repeatedly checks his ($500k) net worth at dinner to ensure they are still on track for their portfolio goals, before ordering two $13 cocktails.   LINK

Seriously.

Our man was quite proud of his fiscally responsible decision-making. I imagine if the market had been red that morning, his wife would have been stuck with a ham sandwich and water for dinner.

This video was (rightfully) dunked on across social media, but this dude's behavior isn't as farfetched as it first appears. While most of us aren't basing our date night budgets on the intra-day movements of the S&P 500, we are guilty of more subtle examples of this same phenomenon:

The overfinancialization of everything.

As many of you know, I'm in business school right now. The decision of whether or not one should attend graduate school is quite common for mid-to-late 20-somethings these days, but how does one figure out what they "should" do?

Typically, we ask if it makes financial sense.

Many of you are probably familiar with discounted cash flows, or DCFs. For those who aren't, DCFs are financial models that we use to estimate the value of a company now based on our projections of a company's cash flows in the future. You model estimates for cash flows for X number of years, and you use a "discount rate" to calculate what those future earnings would be worth in today's dollars.

In layman's terms, a DCF can model the current value of your future earnings in different scenarios.

Oftentimes, especially for people already working in high-paying jobs, the math says "No!" to graduate school. If you are making $150,000 per year for example, why would you abandon two prime working years to take on $100,000+ in debt to go back to school?

The numbers just don't make sense.

To continue reading, please go to the original article here:

https://www.youngmoney.co/p/overfinancialization-everything

Six Types of Wealth

Six Types of Wealth

Author  Jack Raines  September 01, 2022

Wealth   /welTH/   noun: An abundance of valuable material possessions or resources

Merriam-Webster Dictionary

Being rich isn't just a money thing.  What comes to mind when you think of wealth? A list of America's ten richest people? Your neighbor with the bigger house, nicer car, and mountain home in Aspen? The multimillionaire CEO of your company? The professional athlete, musician, or movie star?

Sure, all of these people are, in a financial sense, "wealthy."

But money doesn't have a monopoly on wealth. Wealth is defined as "an abundance of valuable material possessions or resources," but nowhere in this definition is money listed as the singular valuable possession or resource.

Which resources you consider valuable is just as important as the abundance of resources themselves. The key is optimizing for the right form of wealth.

Money

Money is the simplest, most obvious form of wealth, because it can be quantified.

How much is your salary? $100,000.

How expensive was your house? $500,000.

How much was your kid's college tuition? $50,000.

How much is your portfolio worth? $250,000.

Forbes tracks the world's richest people in real-time, so everyone can see just how much money the uber-wealthy have. A hedonic scoreboard for a game that never ends.

Because monetary wealth is so visible, it becomes a point of comparison. Money is the only form of wealth that allows you to look at your neighbor and say "I am richer/poorer than him."

Subconsciously, money becomes a competition. Like any other competition, we want to beat our peers. Make more money. Acquire more possessions. Indulge in more pleasures. Anything to win the game.

What gets missed is that beyond a certain point, money is a seductive scoreboard but a poor measure of wealth. It has diminishing returns. We expect satisfaction from money to look something like this:’

To continue reading, please go to the original article here:

https://www.youngmoney.co/p/six-types-wealth

The Money Value of Time

The Money Value of Time

Maybe you should spend more money.

Author  Jack Raines  November 01, 2022

The Time Value of Money is a core principle of finance that shows us how much the value of an investment will change between two points in time given an expected annual return.

The time value of money plays a role in every branch of finance. Mortgages and car loans are amortized over time. 401k plans suggest estimated contributions needed for your portfolio to hit your retirement goals. Investors discount the future cash flows of companies to estimate their fair values, and companies discount the future cash flows of projects to determine if they are worth undertaking.

The time value of money is also the basis for most mainstream personal finance advice: spend less now to have exponentially more later.

Over time, this has led to a deluge of advice that vilifies whimsical spending and deifies stinginess.

"Don't buy your coffee from Starbucks!" screams an army of Dave Ramsey acolytes. "That $50 per month will cost you $221,575 in 40 years!"

"Pour every nonessential dollar into your index funds!" shouts the FIRE movement's loudest supports. "Every dollar spent now just pushes your retirement back further."

And over time, well-meaning advice such as "Spend less than you make" has been warped into "Never spend or else." And when you preach this long enough, people begin to believe it.

I, like most young people, grew up viewing money as this scarce asset that should be treasured and put away for safe keeping. Save every dollar, don't overspend on anything, you know the drill. Make sure everyone else in your Uber Venmo's you. Obsess over the cash in your checking account every week.

In hindsight, it was irrational for me to be worried about money. In college, I was an upper-middle class kid with a full scholarship. Realistically, I would land a relatively high paying job as a 22-year-old college graduate and be good-to-go.

But when frugality is portrayed as the sole important value in personal finance during your formative years, you tend to conform to this standard.

This mindset stuck with me after college into my first job. Better max out that 401k and watch your weekend spending! You know, the same stuff that every other 23-year-old thinks while working their first job.

Now, if you've followed me for a while, you know what happens next. It's a story that I've told a million times, but here we go again:

I made a bunch of money trading spacs during covid and then lost half of it but i still had enough money to just quit working for a year so i lived out of a backpack in europe and south america for a year because that seemed like the most logical decision for a 24 year old who had enough money that they didn't need to work for a year and now i'm writing this blog.

I've talked about this experience in several blog posts, and I have recounted the story on a dozen podcasts. Make money, lose money, travel, start writing, here we are today. What I haven't discussed is just how much this moment altered my perception of money. 

As I mentioned above, we are trained to put frugality above all else from an early age, and it isn't until you reach the point where you no longer need to be frugal that you realize just how dangerous pure frugality is.

Most people don't reach this point until retirement, but thanks to my savvy ability to buy stocks that went up, I was able to briefly experience this sensation at 23. So today, I'm going to let you in on a little secret:

When you have enough money that you no longer have to be frugal, and you are staring at those numbers behind the dollar sign, you can only think one thing: now what?

Our careers are built around the idea of acquiring as much capital as possible, but it is only once you are finally done acquiring capital, and you are contemplating what to do next, that you realize an important truth:

You can't eat money, you can't breathe it, and you can't have sex with it. Money, on its own, can't entertain you. It can't make you laugh, cry, or smile. Money alone can't provide you with fond memories, and it will never set your soul on fire. You can't form a relationship with money (many have tried, but money never returns the love that it receives).

Money, in and of itself, is shockingly worthless.

However, money can be exchanged for something infinitely valuable: experiences.

To continue reading, please go to the original article here:

https://www.youngmoney.co/p/money-value-time

5 Reasons You Should Work for as Long as You Live

5 Reasons You Should Work for as Long as You Live

These benefits might make you think twice about retirement.

Alex Valdes • November 3, 2021

While countless workers dream of retirement, millions more have decided to work full time or part time after age 65:

In fact, the U.S. Bureau of Labor Statistics predicts that by 2024, there will be about 13 million working Americans age 65 and older.  Working longer might be your best option. Here are several reasons why.

1. Increase financial security

If you’re worried about outliving your savings, working longer is the answer. It can let you:

Wait to collect Social Security. Delaying claiming your benefits until age 70 earns you payments that are much larger than if you had started claiming at or before your full retirement age.

Keep adding to your retirement savings.

Leave your nest egg untouched longer. This means having more money to use later and giving your savings more time to grow and compound.

A couple of years ago, MarketWatch cited these findings from the National Bureau of Economic Research:

“The longer you work, the longer you can add to your retirement savings, the more time they have to grow, and the less you will need when you eventually retire. Throw in the boost to Social Security as well, and ‘delaying retirement by one year is roughly 3.5 times as impactful as saving an additional 1% of wages for 30 years,’ calculated financial researchers recently.”

2. Stay sharp

A job gives you projects to complete, tasks to perform, deadlines to meet and co-workers to team up with.

To continue reading, please go to the original article here:

https://www.moneytalksnews.com/7-clever-ways-to-fix-your-finances-in-10-minutes-or-less/

Using Financial Therapy to Deal With Money Issues

Using Financial Therapy to Deal With Money Issues

A financial therapist can help you get to the root of your problem

By Pat OlsenJune 26, 2019

Financial Therapy

Like many married couples, Stephen and Kathy Read of Wayne, Pa., knock heads about money. Stephen, a retired engineer in his mid-70s, is a spender. Kathy, a musician in her mid-60s, is frugal. In 2016, they decided to talk to a money therapist. “They’re supposed to know about these things,” says Stephen.

Meeting with the financial therapist, the Reads say, was a huge help. Stephen says he came away realizing that he and his wife “kind of complement each other.“ Now, he says, he has “great respect” for her financial caution.

lso, as a result of their sessions, the couple were motivated to visit a financial adviser. That helped, too. Theirs is a second marriage for both and the pair had kept their assets separate since getting married, but the adviser recommended combining them.

“I didn’t think Kathy would want that, but she did it, and it really brought us together. Everything is more out in the open now,” Stephen says.

“Financial therapy normally involves talking with people about the beliefs they formed about money in childhood.”

If you have money issues that are stressful, you might want to consider seeing a financial therapist, too.

What Is Financial Therapy?

So, what exactly is financial therapy? And who offers it?

The Financial Therapy Association (FTA) describes financial therapy as “a process informed by both therapeutic and financial competencies that helps people think, feel, and behave differently with money to improve overall well-being through evidence-based practices and interventions.”

Put simply, according to FTA President Meghaan Lurtz, financial therapists help with emotional and relationship issues surrounding money. The work normally involves talking with people about the beliefs they formed about money in childhood.

Practitioners include mental health professionals such as psychologists and marriage and family therapists, as well as financial consultants and advisers. They can choose to become a Certified Financial Therapist after completing a program offered by colleges and, as of recently, the FTA, and then passing a test.

Why People See Financial Therapists

  Financial therapists say people see them for a variety of reasons.

To continue reading, please go to the original article here:

https://www.nextavenue.org/financial-therapy-money-issues/