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
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?
If you are working full-time and also making a grand per month, chances are you are more financially comfortable than you were before you took on a side job. (You may also be more tired than you were before.) However, as you become more comfortable in your financial situation, you may want to be careful to avoid income creep.
The thought process goes like this, “I’ve been working hard, so I deserve to . . .hire a housekeeper. . .go out to eat. . .buy the kids an expensive toy. On and on it can go. If you aren’t careful, you may soon end up spending much of your grand per month, even though you didn’t intend to.
Before you get to this point or when you realize income creep is beginning to occur, sit down and take the time to write down what you would like your money to
Continue reading Assign Your Income Streams Different Jobs
The following post is from Melissa who blogs at Mom’s Plans who made the transition to working at home so she writes from experience.
Perhaps you picked up a side gig to pay down debt or to increase your savings. Maybe you did it because your day job is not as fulfilling as you would like or does not utilize your talents. Whatever the reason, people often start side gigs because they get to do something they love AND get paid for it. I was ecstatic when I began writing for pay, and even more so when my writing business grew. If you have a profitable side gig that you enjoy and are good at, you may find your little side business growing into a larger endeavor than you planned. The next natural step is to wonder if the time is right to quit your full-time job to pursue
Continue reading Turning Your Side Income into Your Main Income