Monday, April 18, 2011

How to be a Financially independent

every one of us wanted to be rich and achieved our goal and that is to be financially are some tips on how to be financially independent and do what the rich people do.

Live below your means: People with high incomes who spend all that money are not rich; they're just stupid.

Plan: That means plan for today, tomorrow and 30 years after retirement. Take time doing it too and spend time monitoring it every day. Use budgets and stick to them.

Diversify: As Lassiter said, look for mutual funds that allow you exposure to asset classes that aren't related to each other.

Reduce use of credit and turn to cash: It's easier, of course, for a prosperous person to pay for a house in cash than it might be for most folks, but credit-card debt for luxury purchases or extravagant vacations will never pave a road to riches.

Have access to cash: While the rich keep much of their wealth invested, they can get cash when they need it. "Have some kind of line of credit available, like a HELOC (home-equity line of credit) that you never use," Lassiter said. "It's a safety valve." She suggests a year's worth of cash to cover expenses; Danziger thinks three years worth is a better bet.

Spread cash around: When the wealthy pulled money out of the equities markets two and three years ago, they opened a bevy of bank accounts, all guaranteed up to $250,000 of deposits by the Federal Deposit Insurance Corp.

Bring your children into the mix, and remember the importance of estate planning: The affluent can go to great lengths to teach their children about money and how to manage it -- something every family should do. Though talking about money with children consistently ranks as one of the most dreaded conversations, it's important that your heirs know where all the bank accounts and safe-deposit boxes are -- even that their names are on them, too who the attorney is, where the will and trusts are filed.

Monday, February 7, 2011

Why Millionaires Side Was Created

Welcome here in millionaires side,  i want to clarify this first that I'm not
a pro blogger I'm just here to share something about me and on my financial experience
in my everyday life. I will be posting here how will i handle my money how do i budget it and invest
by just receiving that amount every payday how do i manage to leave by that amount.
this blog will surely benefit those low income earner. because it will teach and guide them how to manage their finances eve if they earn that amount of money.before anything else just bear of my grammar i am not that good enough in writing but i hope that you understand what i am saying in this blog.
I'm here to share how to turn those small amount of money into millions someday.

I am hoping that you will enjoy reading this blog of mine and learn something here specially in your financial needs.

i create this blog not to make money instead will share you how i create or how i make my money and let that money work for me. the topics that will be posted here mostly are my personal financial experience. that's all for now till the next post

leave simple while earning more.