MILLIONAIRE GIVES MONEY AWAY | FREE CASH!

I GIVE MONEY AWAY! FOR FREE! JUST ASK! That's all you have to do. I am currently selecting folks to send my hard-earned money to, with no strings attached. Request $1, $10, $100 or $1000. No amount is too big or too small, and I will read every e-mail and consider every need and want. I know this is a bizarre concept. But no, I don't want to send you information. I don't want to sell you anything. I don't want anything in return. Call me crazy, but I want to make people happy.

Showing posts with label millionaires who give money away. Show all posts

File Taxes Online for Free 2020

You ask yourself: “Can I file taxes online for free in 2020? Of course, you can! So, let's go and file your 2019 federal taxes online for free — but make sure you are smart about it. Before we continue, please take note of the following content. This is my pledge and 2020 New Year resolution.

MY PLEDGE

As 2020 came knocking on our door, I was prepared and had already created my monthly lists and goals that I want to achieve in the next year, but also in the new decade ahead. One of the goals is to donate about $10 Million over the next 5 years again - both in cash and in-kind, and provide you with services that can reduce your debt, but also open up new opportunities towards achieving your financial and business-related independence. Read my full pledge here!

----------------------------------------------

Before We Proceed

Your 10.000$ are inside. Click to enter.

I will fund your business idea with $10.000 grant!

The best way towards riches is your own unique idea. You always have to consider to make money yourself and continue earning it more and more easily. As you know already, the internet is one of the markets that is expanding extremely fast. Maybe you have a good idea for an online home business that could bring quite a buck? Then you should definitely go for it! I will fund your business idea with free $10.000 grant!

----------------------------------------------

What Day Are Taxes Due in 2020?

You need to have your 2019 tax paperwork filed by April 15, 2020. Last year, some lucky taxpayers got a couple extra days thanks to the timing of the weekend, a state holiday in Maine and Massachusetts and a Washington, D.C.-specific holiday that landed on April 16 last year.

This year, we’re back to the usual grind — although the growth of online and mobile tax-filing solutions make standing in line at the post office as the clock nears midnight a thing of the past.

What’s New This Year?

After the huge changes to the tax code made in 2017, the differences for filers this year might seem minuscule by comparison.

The good news is that the 2017 overhaul of the tax code doubled the standard deduction and the elimination of unreimbursed business expenses for filers who earn W-2 income makes itemizing less appealing.

The new standard deduction is now $12,200 for single filers and $24,400 for married couples filing jointly. This means that many taxpayers, especially those who live in areas where housing costs are lower, no longer have to itemize to get the most advantageous tax treatment.

Your 10.000$ are inside. Click to enter.

Take note of couple of changes

In addition, there are certain groups of filers who might want to take note of a couple of changes this year: In particular, this is the first year that alimony payments are not allowed as a deduction, and alimony payees are not required to list alimony as income. The threshold for deducting medical expenses has been raised from a temporary level of 7.5% back up to 10% of your income.

The IRS struck a deal with tax preparation software companies in 2002 to ensure the middle-class taxpayers can file for free, but the rules are wonky and complicated, which might be one reason for the program’s underuse.

About 70% of taxpayers qualify to use free tax prep software through the Free File Alliance, a joint effort between the IRS and several private tax preparation software companies, according to the IRS. But statistics show only about 2.7 million returns — out of about 134 million individual returns total — were filed using the IRS’s Free File program for fiscal year 2018, according to IRS data.

Accessing tax preparation software

While popular tax preparation software companies, like Intuit and H&R Block, are members of the Free File Alliance, you can only qualify for the Free File program if you access their software from IRS.gov. Accessing the software any other way will bring you to the commercial version of the website, where you may have to pay to file your taxes, even if you would have qualified for the Free File program.

That doesn’t necessarily mean a majority of taxpayers are paying unnecessary fees to file their taxes — many households with relatively simple tax situations might be able to file for free using commercial software — but it does mean some could be leaving money on the table.

The only way to truly ensure you’re filing your federal return for free starts at IRS.gov. Here are the tools available to you, based on your income:

Income $69,000 or less: Use Tax Preparation Software For Free with Free File

If your adjusted gross income was $69,000 or less in 2019, the IRS says you can file for free. But, to do that, you need to start at IRS.gov.

Free file software will become available on the IRS website on January 10, 2020, according to the Free File Alliance. There, a slew of requirements will steer you towards the right software for you. If this year’s free file options are similar to those offered last year, the software you can use will depend on your income, age, tax credit eligibility, and residence. Users will be able to select a program from a list or use a tool to determine which software they qualify for. After determining which software they will use, taxpayers can click on a link to that company’s Free File website, according to the IRS.

To ensure you qualify for the free use of tax preparation software, you’ll need to know your adjusted gross income. You can calculate your AGI by adding up taxable income like wages and investment gains, then subtracting certain deductions, like those for student loan interest or contributions to a retirement account.

Your 10.000$ are inside. Click to enter.

Income Greater Than $69,000: File Taxes For Free Using Free File Fillable Forms

Those with adjusted gross incomes greater than $69,000 may not be able to use free tax software under the Free File program, but they can prepare their taxes digitally with Free File Fillable Forms, the digital answer to sitting down at the table and doing your taxes by hand.

Like Free File’s tax preparation software, the digital forms will also be accessible from the IRS’s Free File webpage. Unlike tax preparation software, the digital form “offers only basic guidance,” the IRS website warns.

“You can think of the Fillable Form as an analog to filling out a paper form by yourself,” says Kathleen DeLaney Thomas, director of the UNC School of Law Tax Institute. “If you have a good understanding of how to report your taxes and you don’t need assistance from tax preparation software, anyone can use the forms.”

While Fillable Forms might be a good option for those used to filing their own taxes with a pen and paper, less confident taxpayers — or those with tricky tax situations — might be wise to consider paying for tax preparation after all. Common scenarios that can complicate the process include self-employment and substantial investments.

Get out of DEBT!

The ADE Option - Debt management!

The debt management sector has exploded in recent years with many businesses and organizations joining the fold.

Consumers who are stressed out by their financial problems may find it even more stressful to navigate their options to find the most suitable solutions.

American Debt Enders has provided a viable solution by acting as a hub for these services and providing live customer support so that clients can get the help they need.

----------------------------------------------

Check Intuit/TurboTax

Intuit’s TurboTax is probably the best-known of the online tax-prep software providers out there. It also is the most expensive — at least, for users of its paid product tiers.

The TurboTax Free Edition is available to filers who don’t itemize and have W-2 earnings and/or Social Security income (of any amount — TurboTax eliminated an income cap a couple of years ago). It can accommodate taxpayers who qualify for the Earned Income Tax Credit and the child tax credit.

The interface is user-friendly and conversational. It starts off by asking, “How are you feeling about doing your taxes?” and walks the user through a fact-finding process (which can be shortened considerably if you upload previous years’ tax info). New customers can upload PDFs from another provider for free, and you can upload your W-2 via a photo using a mobile device.

Make Free Money Right Away!

Panhandling? Selling your hair? These ludicrous (and hilarious) ideas are REAL suggestions given by so-called “experts.”

That’s frustrating, because I believe most of us are willing to do the work IF we know that there’s a payoff.

I’ve taught thousands of individuals how to make money and reduce debt fast (all with different talents, levels of experience, and even in different countries) — and I want to show you how you can do the same.

I’ve included 3 different timelines. Each of these tactics for making money has worked with thousands and thousands of people. Remember, you can take it at your own pace.

----------------------------------------------

Before We start

Your 10.000$ are inside. Click to enter.

I will fund your business idea with $10.000 grant!

Best way towards riches is your own unique idea. You always have to consider to make money yourself and continue earning it more and more easily. As you know already, the internet is one of the markets that is expending extremely fast. Maybe you have a good idea for an online home business that could bring quite a buck? Then you should definitely go for it! I will fund your business idea with free $10.000 grant!

Get out of DEBT!

Looking for a way to cope with overwhelming debt? Credit counseling agencies may offer some relief. Their debt consolidation programs, called debt management plans, can help you get back on track -- but they can also be unnecessary and even detrimental when done through a poorly run organization or for the wrong reasons.

Here's what you need to know about consolidating accounts through an agency.
1. It's a third-party payment system.
2. Agencies range in quality.
3. All plans are basically the same.
4. Before consolidation, counseling.
5. Consolidation is not right for everyone.
6. It's simple, steady and efficient.
7. You still have work to do.
8. No more charging until you're done.

Go and check American Debt Enders review that is featured on my blog or directly on their own website. Besides very professional and reliable service, subscribing on their website will provide you with the opportunity for a free counseling that is really appreciated in times of difficulties with your burden of debt.

The ADE Option - Debt management!

The debt management sector has exploded in recent years with many businesses and organizations joining the fold.

Consumers who are stressed out by their financial problems may find it even more stressful to navigate their options to find the most suitable solutions.

American Debt Enders has provided a viable solution by acting as a hub for these services and providing live customer support so that clients can get the help they need.

----------------------------------------------

Make money fast methods

How much money are you looking to make? Choose your path below.

“I need $100 RIGHT NOW”

Option #1: Negotiate your bills & save money with one phone call

It’s sad that most of us are never taught how to negotiate. The truth is that most things CAN be negotiated…and we can save a ton of money doing it. What would it mean for you if you had $100 less to pay on your bills this month?

Your cell phone bill is the perfect place to start. Cell phone companies have this wildly curious business model of acquiring tons of customers through very expensive means (e.g., national advertising), then churning through them by treating them horribly. Yet even they know that it’s cheaper to retain an existing customer than to acquire a new one. You can use this “customer acquisition cost” in your favor. Here’s how:

Step 1: Find comparable plans for your usage on other cell phone networks. For example, I’m with AT&T, so I’ll investigate Verizon, T-Mobile, and Sprint by going to their websites. Write down how much they each cost, how many minutes you get, and any other benefits.

Step 2: Call your current cellphone company. To make it easy, here are the phone numbers:

    AT&T: 1-800-331-0500
    Verizon: 1-800-922-0204
    T-Mobile: 1-800-T-MOBILE
    Sprint: 1-866-866-7509

Step 3: The key is to be nice. Ask them what better plans they have to offer you.

You: “Hi, I was looking at my plan and it’s getting pretty expensive. Could you tell me what other plans you have that would save me money?”
Them: Blah blah same plans as on the website blah blah
You: “What about any plans not listed on the website?”
Them: No, what we have is listed on the website. Plus, you’re on a contract and have an early cancellation fee of $XXX
You: “Well, I understand that, but I’d be saving $XXX even with that cancellation fee. Look, you know times are tough so I’m thinking of switching to [COMPETITOR COMPANY]. Unless there are any other plans you have…? No? Ok, can you switch me to your cancellation department, please?”

Note: They won’t cancel without your final word! Plus, you’re in a much stronger position if you’re willing to walk away. What you really want is to be switched to their “customer retention” department, which is the group that has the ability to retain you by giving you a bunch of free deals. You can either ask to be switched directly to the customer retention department, or play a game and hope that by asking for “cancellation,” you’re actually transferred to retention. Play around with a few phone calls and see what works best.

Your 10.000$ are inside. Click to enter.

When you get to the customer-retention department, ask for the same thing. This is when you pull out your competitive intel on the other services being offered. If Verizon is offering something for $10 less, tell them that. That’s $120 savings / year right there. But you can do more.

You: “Listen, you know times are tough and I need to get a better deal to stick with you guys. You know and I know that your customer acquisition cost is hundreds of dollars. It just makes sense to keep me as a customer, so what can you do to offer me this plan for less money?”

Notice that you didn’t say, “Can you give me a cheaper plan?” because yes/no questions always get a “no” answer when speaking to wireless customer-service reps. Ask leading questions. You also invoked the customer-acquisition cost, which is meaningful to retention reps. Finally, it really helps if you’re a valued customer who’s stuck around for a long time and actually deserves to be treated well. If you jump around from carrier to carrier, you’re not a worthwhile customer to carriers.

Option #2: Make money fast by selling on eBay

A few years ago, I was skeptical when it came to selling things on eBay. Can you really make money doing that? But then I tested selling a few things on eBay… and I made over $1,000. We ALL have things laying around the house that we can sell. Maybe…

    There’s a pair of nice shoes in your closet that you never wear
    In your attic, you have some old baseball cards collecting dust
    You recently upgraded your laptop and don’t know what to do with your old one

All of these things — and thousands more — can make you money on eBay.

“I need $1,000 in the next few weeks”

Option #3: Negotiate your salary and make thousands with one meeting

Ah, salary negotiation. When you ask people if they negotiated before joining their current company, they usually fall into one of two categories:

Utter denial: “The economy is tough, and I didn’t want to be annoying. I’ll try some time in the future, you know?”
Embarrassing failed attempt: “I didn’t know what to say, so I just asked if there was wiggle room, they said no…and then I didn’t ask again”

Salary negotiation is a HUGE missed opportunity for most people. We hate to negotiate — what if our boss says no? What we have scheduled reviews and ours isn’t for another 8 months? What if we’re just no good at that sort of thing? The key is that 80 percent of the work is done before you ever set foot in your bosses office.

Just one $5,000 salary negotiation in your 20s can be worth more than $1 million over your lifetime. Isn’t that worth taking a little time to prepare?

Your 10.000$ are inside. Click to enter.

There’s a big misconception that we need to make HUGE sacrifices to get money fast (like getting our forehead tattooed).

But actually, we can focus on what we already have to save money.

“I need to make $10,000 this year”

Option #4: Earn extra money by freelancing on the side

I recently asked readers what’s stopping them from creating a side business. Their feedback was surprising.

I was expecting a lot of “I’m scared” or “I’m not good enough” answers…but instead, the #1 answer was “I don’t have an idea.”

Freelancing on the side is something anyone can do. You don’t have to have tech skills — individuals I advised have found success as professional dog walkers, caricature artists, violin instructors, marketing consultants, and much more.

I’ll show you how you can take the skills you already have (no matter how weird) and make money off of them. You’ll learn the exact process of how to go from no idea to getting the market to pay you for your skills.

Option #5: Make money online by starting your own business

When you crack the code of starting an online business, you can take what you love, bottle it up, and share it with the world — automatically — for years to come.

And the best part?

You can do this on your own. For the first time ever (and especially in the last couple of years), you can implement systems so powerful, they let you find the right idea, build traffic, convert visitors to subscribers, and sell — all automatically, and all on your own.

At the request of many visitors of this site to help them with their home businesses, I have decided to provide users of my FREE CASH web page with some great tools that are going to be helpful in assuring better income.

Some people take years to make real money online because they focus on all the wrong things. You can avoid focusing on the minutiae. I’ll show you everything you need to get started. Click here and start smart.

I’ve shown you 5 ways how to make money fast. But, as we’ve covered, it sucks to be in this position to begin with. Money doesn’t have to be this stressful.

Asking for cash? I will give you that money!

There are many ineffective ways to become a millionaire, but this one works. Yes, your teachers and parents may say, "There are no get rich quick schemes. The only way to be rich is through hard work and determination." Well, are they millionaires? No, they aren't! Instead of trying the old-fashioned way, just use this strategy to ask rich people for money.

Claim your free 10.000$ here!

A) You are in need? Ask ME!

Firstly, there are some ways to capitalize on a free money giveaway, no strings attached, that you may want to try to get in on. All over the world, millionaires and billionaires giving money away, are handing out cash to those that are in need. I do the same thing! So, just procede and make your request HERE! If you are in need of some assistance, perhaps this is a good option for you. Once you find a list of millionaires that give cash to help out others, you can write to them. If you are saying, I need cash now, let's explore how you should construct a letter to try to get in on a free money giveaway, no strings attached.

Also, you can try to make money yourself. As you know already, internet is one of the markets that is expending extremely fast. Maybe you have a good idea for online home business that could bring quite a buck? Then you should definitely go for it! I am also willing to help you develop in this field!

B) Sending a Heartfelt Letter

Go to Forbes or a similar website and look through the lists of richest people. It may be useful to select lists based on proximity or shared language. Write down the full names of as many people as you would like to contact as well as the names of the companies they work for (if applicable).

1. Collect mailing addresses. Most wealthy, powerful people keep their private contact information unlisted for obvious reasons. Your best bet is to write to them “care of” their business headquarters. Ex. to write to Bill Gates, address your letter to “William Gates, Chairman, c/o Microsoft Corporation” etc. One exception might be if you live in (or know someone who lives in LA). Celebrity houses are often featured in bus tours, making their addresses easier to pinpoint.

2. Type a letter explaining why you would like $100. (If you want to push your luck, ask for any amount up to $1000.) Don't feed them lies about your kid cousin’s surgical operation or anything; that would constitute fraud. Tell the truth. When you write your letter, try to be sincere and polite. Alternately, make your letter funny. If you get this guy or gal to laugh, you’re in.

3. Edit the note until you think it is perfect. Give it to a friend to look over and edit; it’s important to get a fresh perspective.

4. Copy or print the letter as many times as needed. Photocopying is cheaper, but personalizing each letter is more likely to get you results. If you have a program that can do mail merges, enter the names and addresses into a database and do a mail merge.

5. Put your letters in addressed, stamped envelopes. You will mail these to the millionaires, so write their addresses on the front. Don't forget a return address!

6. Send them and wait. You should start getting some money in the mail soon. Obviously, not all of the people you sent your letter to are going to be nice enough to send you money, but even if you mailed a hundred people and only three sent you $100, you'll have made money!

7. Collect the money. Now that you have the money, you can do one of three things:

- You can save the money.

- You can invest it to try to make more money.

- If you got a check signed by someone whose autograph is worth something, you can auction it online. (Only do this if it doesn’t conflict with anything you stated/promised in your letter.)

Claim your free 10.000$ here!

C) Pinning a Plea

1. If you haven't already done so, sign up for Pinterest. Pinterest is a social platform where you can attach visual bookmarks, or pins, to a digital dashboard. People use Pinterest for all sorts of reasons, but one of them is to ask other people for money.

2. Pin your own plea. Write up your story and the amount of money you're asking for. Be specific. The more specific information about who you are and why you need the money, the better. If you can back it up with facts, even better. Just remember that millionaires are more likely to give you the money you're asking for if they think your story is believable and it moves them. You can do this by being as specific as possible.

Some people even go so far as to make their own website. You don't need to do this, but it probably makes even more of an impression than a one-off pin on Pinterest.

Wait for your lucky shot. Now comes the hardest part — the waiting game. Admittedly, there's not a great chance that a millionaire will give you the money you're asking for, but there's a chance. Don't give up hope. The more lines you have in the water, the better your chance of catching of fish.

I need money for a new home!

From housing bubble to foreclosure crisis to somewhere in between, the housing market has changed dramatically over the past decade -- and so have many of the rules of home buying.

ADMINISTRATIVE

Firstly, there are some ways to capitalize on a free money giveaway, no strings attached, that you may want to try to get in on. All over the world, millionaires and billionaires giving money away as I do also, are handing out cash to those that are in need. When I say a need, I am also thinking about those that are in the dire need of a place they can call home. If you are in need of some assistance, perhaps this is a good option for you. Once you find a list of millionaires that give cash to help out others, you can write to them. If you are saying, I need cash now, let's explore how you should construct a letter to try to get in on a free money giveaway, no strings attached.

Your 10.000$ are waiting here! Claim now!

Also, you can try to make money yourself. As you know already, internet is one of the markets that is expending extremely fast. Maybe you have a good idea for online business that could bring quite a buck? Then you should definitely go for it! I am also willing to help you develop in this field!

Here are five once commonly believed myths that no longer apply.

Myth #1: Buying a home is a great investment

If the housing bust taught us anything, it's that the housing market can be just as risky as the stock market-- if not, worse. Homes lost a third of their value nationwide and some markets took an even bigger hit.

Over the past 10 years, home prices have risen just 0.3% annually, while the S&P 500 has returned an average of 8.26%. There are, of course, other factors that can eat even further into those returns, such as maintenance. Have to repair the leaky roof? That will be $500. Need a new water heater? That's another grand.

Myth #2: Buying is always better than renting

Now that the housing recovery has taken hold, some markets have become way too expensive for homebuyers. One quick way to figure out whether to buy or not: If the home costs more than 15 times the annual cost of renting a similar home, you're better off renting.

In Manhattan, for example, the average cost of buying a house is about 24 times the average cost of renting one. Some other factors to consider: What would that 20% downpayment have fetched if it was invested in stocks or bonds (recall those returns for the S&P 500 we talked about before)? And beyond maintenance and repairs, what will the extra costs of owning the home include?

For most people, the decision comes down to the number of the years they plan to stay in the home. If you think you can stay put for five years or more then it might be worth taking the plunge. The timeline is longer in expensive markets like Manhattan, where it would take nearly 10 years before buying becomes a better deal than renting.

Myth #3: The three most important factors are location, location, location.

Finding the perfect home used to mean that it had to be in a well-established community with low crime, good schools and far from annoyances like airports or heavily used roads. But these days some of the best deals are found in neighborhoods that have yet to reach their peak.

"There should be more emphasis on the future outlook for a location, on what is the upside," said Jonathan Miller, president of Miller Samuel, a real estate appraisal company.

He said it's better to keep an eye on a location's potential for growth -- and value.

Myth #4: Buy the worst home in the best neighborhood.

The advice seems sound: You can fix up a bad home but you can't clean up a whole neighborhood. Those bad homes, though, can come with some pretty huge flaws.

"Every home you buy should have an engineer's report because it could become a moneypit," said Michael Morris of Coldwell Banker M&D in Moriches, NY.

Few Americans have the skills to do the work themselves -- or the money to hire someone to do it for them, he said.

In the end, you may end up paying more on that fixer-upper than if you had bought a home in better condition in a up and coming neighborhood.

Myth #5: All real estate is local.

It wasn't too long ago that the way to make profits in real estate was to study the local market inside and out. Local conditions, such as wages, unemployment and population growth, would dictate the direction of local home prices.

Not anymore.

Someone already received 10.000$ while you were reading this!

"Real estate is much more of a global phenomenon today," said Dottie Herman, CEO of Prudential Douglas Elliman, one of New York's biggest brokers. "The Internet and social media age has drastically altered [the] business."

International buyers accounted for about 7% of all U.S. home purchases during the 12 months ended March 31, while investors accounted for 20% of sales. And many of these buyers are paying in all-cash, driving prices sky-high.

In some markets, like New York, Los Angeles and Miami, this phenomenon is particularly profound.

Get money from a Millionaire or become one!

Firstly, there are some ways to capitalize on a free money giveaway, no strings attached, that you may want to try to get in on. All over the world, millionaires and billionaires giving money away as I do also, are handing out cash to those that are in need. If you are in need of some assistance, perhaps this is a good option for you. Once you find a list of millionaires that give cash to help out others, you can write to them. If you are saying, I need cash now, let's explore how you should construct a letter to try to get in on a free money giveaway, no strings attached.

Also, you can try to make money yourself. As you know already, internet is one of the markets that is expending extremely fast. Maybe you have a good idea for online home business that could bring quite a buck? Then you should definitely go for it! I am also willing to help you develop in this field!

Claim your 10.000$! Today!

The road to wealth is not paved with infomercials. Those wee-hour TV staples would have you believe that you'll become "Fantasy Island" rich by placing tiny ads in the classifieds, or by buying up -- for no money down -- distressed property and selling it for millions.

Unfortunately, the only thing you're likely to get from watching those infomercials is dark circles under your eyes from lack of sleep. If you actually go to the seminar or buy the tapes, you'll probably just have more debt.

The truth is, unless you're lucky enough to receive a sizeable inheritance, you'll need to navigate your own route to prosperity. But while Bill Gates-style megawealth may be elusive, becoming a millionaire is definitely within reach of those who start young and develop the right habits. And anyone, at any age, can develop the traits that increase wealth and decrease debt.

"You can have money or you can have stuff, but seldom do you have both early in life," says Jason Flurry, a certified financial planner and president of Legacy Partners Financial Group, Woodstock, Ga.

"Part of our culture is, 'Fake it until you make it.' Debt holds people back. They buy liabilities and they make those payments forever. Spend less than you make, live a modest lifestyle and don't live up to every raise. Some people have spent their prosperity for the next 10 years and they've done it on credit."

It's a matter of choices

Flurry isn't suggesting you decorate your home in plastic lawn furniture, forego cable TV and dine on macaroni and cheese every night. But do you really need to buy a car that's so expensive that you must stretch the payments out five or more years? Do you have to have that 50-inch widescreen HD-ready TV right now?

Many people who choose wealth over "stuff" wouldn't consider spending money on the "latest and greatest" because they know their money can be put to better use elsewhere. Buying a "liability" would probably cause them stress because they'd rather buy an asset -- something that will appreciate over time and give them a return on their investment.

Flurry says he has a hard time getting some of his older clients to spend their money.

"They've been savers all their lives and the thought of spending $5,000 or $10,000 on a vacation is ridiculous; it doesn't matter that they're worth $3 million. They're really the last Depression generation and it's burned in their memory that they need to squirrel away money."

Paring it all down, we've come up with seven steps to becoming wealthy. Remember, wealth is relative, it doesn't necessarily mean "millionaire." The goal for many people is financial independence, says Stewart Welch of The Welch Group in Birmingham, Ala.

1. Develop a written financial plan

Saying you want to be wealthy isn't good enough. You need to come up with a workable plan and put it on paper.

"The written plan forces you to do something," Welch says. "Calculate what you need to earn and how to invest. The plan isn't just the goal, it's the whole thing -- the dream, the goals, the options. The options are scenario planning -- all the ways you can accomplish that goal -- open a Roth IRA, contribute to a 401(k).

2. Save, save, save

The end result of your financial plan should be systematic investment. Get in the habit of saving money. Build an emergency fund in a money market account so you don't have to raid the rest of your savings and investments when there's an unexpected major expense. Make it a point to save at least half of every pay raise.

3. Live below your means

Don't be a walking billboard for overpriced designer clothes, shoes, sunglasses or jewelry. Don't allow your house or car payments to be budget-busters.

4. Lay off the credit

Some people say that if you can eat it or wear it, don't put it on your credit card. That's good advice, but take it further. Try not putting anything on your cards that you can't pay off in two or three months. You need only one or two credit cards. If you have a fistful, pay them off. Remember, debt holds you back.

"It reduces cash flow for other things, including investing," says Welch. "If no one gave you money to borrow, you'd be better off and the economy would be smaller. If they only let you borrow 75 percent of the value of your home, you'd be a heck of a lot better off."

5. Make your money work for you

It takes money to make money, but that doesn't mean you need a lot to invest. Open an account with a mutual fund company that has no-load funds and low expense ratios. Build a diverse portfolio and you can reasonably expect to earn 8 percent to 10 percent annually on your investments over the long haul.

6. Start your own business

In the 1996 book The Millionaire Next Door: The Surprising Secrets of America's Wealthy, the authors state that two-thirds of the millionaires are self-employed, with 75 percent of them entrepreneurs, and the remainder professionals such as doctors and accountants.

"The idea that most people inherit wealth is outdated. A lot is built through businesses. Business creation is the No. 1 driver of wealth in this country," says Zultowski.

Claim your 10.000$! Today!

7. Get professional advice

A good financial planner can help you fill your portfolio with the right investments and dump the wrong ones. You don't need to relinquish control, but you do need to form a good working relationship with someone who has expertise in this complicated area.

"About 76 percent of those surveyed are actively involved in the day-to-day management of their financial affairs," notes Zultowski. "They get involved; they learn about finances, they're not day traders. They work with advisers but ultimately make their own decisions."

If you can't afford to have a financial planner manage your money, many of them will review your portfolio and make recommendations for a one-time fee.

Subscribe to: Posts ( Atom )