At this moment, my dad is retired and my mom will be retiring in the next 20 days. They have some money stashed away in their retirement account, but if they happen to live for another 20 years, their money will almost certainly be long gone.
Since I live and breathe finance, my dad started asking me questions about what they should do with the money that they do have. “Will the stock market crash soon? Should I put my investments in something other than stocks and bonds? What is a good hedge investment that will allow me to keep my money over the next 20+ years?” These are all great questions, but to be honest, nobody can answer them with 100% certainty (not even me!).
My Best Advice For My Dad and Mom
While my mom and dad were hoping that I had the magic answer of what they
Continue reading Earn a Grand Per Month In Your Retirement
After making an extra grand per month for awhile, you may find that you have paid off all your debts and have established accounts for larger ticket items like an emergency fund, retirement or college savings, or automobile replacement. But you may find that you still have some money left over in the budget and want to begin investing. The question is: where to start?
Three Questions to Ask Yourself
First, start off by asking about your risk tolerance. Do you have plenty of other funds and can afford to lose some? Would the thought of losing money keep you awake at night? These types of questions can point you toward certain investments. Less risky investments such as CD’s or balanced mutual funds might be appropriate as you near retirement. On the other hand you might want to speculate in commodities or forex.
Risk can sometimes be a manifestation of
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What if you don’t succeed in earning a grand per month?
Based on this site’s title, it’s obvious that the premise revolves around making an extra thousand dollars per month. By starting a side gig one could earn that $1,000 or more. Plus, at times it actually allows them to quit their day job because they begin earning far more than they expected in the first place! With these efforts, there are often stories of great successes and fabulous future plans, but what about those that have tried and tried and never end up earning an average of a grand per month? You might think of them as failures, but I’d say it’s quite the contrary.
Earning Less is Still More
I’d say that most people are living from paycheck to paycheck in this world (for sure in the United States). Whatever they earn during the month goes straight to
Continue reading What If You Don’t Earn a Grand Per Month?
There are several markets in which an individual can make a profit by trading and foreign exchange is one of them. Or perhaps you have a business that trades products internationally and want to hedge your foreign currency risk. Well, then you should look at forex. Having some basic knowledge of currency trading can benefit your bottom line. While this article won’t be an exhaustive resource on forex, I will touch on some of the basics.
Let’s say that you want to trade currencies to make an extra grand per month. You would start by opening an account for trading. There are many different brokers and most likely, you could find one online. I checked with my online broker and others that I have used in the past and several have the ability to trade foreign currencies. So opening and funding an account would be relatively straightforward.
Next, it is
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