Showing posts with label Income. Show all posts
Showing posts with label Income. Show all posts

Saturday, March 4, 2017

Supplementing Your Income Utilizing the Online Options Trading Platform

“I will tell you the secret to getting rich on Wall Street. You try to be greedy when others are fearful. And you try to be fearful when others are greedy.” - Warren Buffett

Have you reached the pinnacle of your working career; furthermore, are you are starting to look at retirement options? If at all possible, it’s important to have saved enough to be able to retire comfortably. 

However, the fact of the matter is that, unless you are extremely wealthy, you will more than likely never have enough money to retire comfortably.

Why not?

Tough global economic conditions

We currently live in challenging socio-economic times where rising costs and stagnant wages are causing a phenomenon known as "the middle-class squeeze [which] is… where increases in wages fail to keep up with inflation for middle-income earners leading to a relative decline in real wages.”

Therefore, I believe that question that needs to be asked and answered is: "how do you go about supplementing your income in order to be able to retire comfortably"? 

Fortunately, there is more than one way to add to your retirement income; however, I believe that a good way to increase your retirement funds is to invest in financial market options.

Before we look at how to trade in financial options, let’s have a look at what they are: 

Financial market options?

According to Investopedia, a financial option is “a contract that gives the buyer the right, but not the obligation, to buy or sell an underlying asset at a specific price on or before a certain date. An option, just like a stock or bond, is a security. It is also a binding contract with strictly defined terms and properties.’

Binary or financial options are versatile in nature, allowing you to adapt to changing economic market conditions. For example, you can adopt a short-term trading strategy; thus, opening and closing your position within a time frame of less than one day. When you are investing in options, you can be as aggressive or as conservative as you want to be. 

However, you need to take cognisance of the risk factor when you are placing trades. In a nutshell, the more aggressive your trading position is, the greater your exposure to risk and the loss of your initial investment will be. Conversely, the more conservative your trading strategy is, the less your exposure to risk and the loss of your starting investment will be. 

Trading in options

Much has been made, and continues to be made about the high levels of exposure to risk you could face when trading in binary options. This is true; however, the risk can be mitigated by following the following simple tips: 

Choose your broker carefully

It is common knowledge that we are living in an age where close on 50% of the global population has access to the internet through laptop/desktop computers or mobile devices, resulting in the rise in online financial market trading brokerage firms. 

Some of bona fide brokers while others are fly-by-night companies who have no intention of acting honourably towards their clients. Thus; it is vital that you investigate whether your choice of online trading partner has your best interests at heart or not. 

Educate yourself

The more you know and understand about options trading and how to trade successfully, the better chance you will have to set yourself up for success. 

Your online trading partner should have an extensive education centre consisting of a trading academy, advanced learning materials, FAQs, glossary, as well as daily market reports and a daily financial market analysis. 

Utilise this information that is provided to you to ensure that you are au fait with making sensible and sound investment decisions.

Research underlying assets

It's important not to guess which way you think the price of your chosen underlying assets will move, rather do the research and make an investment decision based on knowledge and not on conjecture. 

Ergo, research the price movement history of all the underlying assets you intend investing in. It is also important to take the current geopolitical and socio-economic climates into account when making trading decisions as it is a proven facts that the prices of financial market assets are impacted by external factors related to regional political and fiscal conditions. 

Final words

Turning 50 is often seen as a negative event by many people. If nothing else, it drives home the fact that you are getting old and you need to ensure that your finances are for when you retire; however, I believe that your 50th birthday is a momentous occasion. 

After all, you have lived for half a century! On the off-chance that you haven't saved enough for your retirement; all is not lost, there is still time to increase your investment capital.

Tuesday, April 28, 2015

Why Do Many Middle Class Americans Feel Trapped When It Comes To Finances?

Even with some of the recent economic problems slowly improving, more and more middle class families feel as if they are trapped in their socioeconomic level with no options for upward mobility. 

Here is a closer look at just a few of the reasons that many working professionals feel as if the odds are stacked against them. 

Predatory Loans

Predatory loans and the banking industry in general are often seen as the biggest concern when it comes to class mobility. 

Stick to Your Financial Plan by Making Your Goals Exciting
You don't see the words “finance” and “exciting” used in the same sentence very often. Personal finance is a pretty boring topic. Because of that, it's easy to neglect our financial goals. To build momentum and stay motivated to ...

Teenagers and young adults are expected to earn their degree with loans, enter an extremely competitive job market, take out more loans for a house, and then hope that their income over the next 30 or 40 years is enough to cover payments. 

A single missed payment could mean an increase in the loan's APR or being immediately sent to debt collectors. This means a hit to one's credit score and difficulty attaining any loans in the future. 

Decline of Middle-Skill Jobs

There is no longer any stability when it comes to middle-skill jobs, or jobs that do not require a degree or advanced training. 

The “value” of a high school degree has gone down significantly as well as the return on investment for an advanced degree. No matter whether students are looking to enter into the job market immediately after high school or would like to explore their options for higher education, there is never really an ideal time or field that will come without risks. 

The Threat of Major Injuries or Other Financial Drains

Even a family that has made decent gains when it comes to their savings or financial security may see it all torn away from them in an instant. 

Although sweeping changes have been made to the healthcare industry, medical bills remain the number one cause of bankruptcy. In situations such as an auto accident, victims may not see money for years on end as their bills continue to mount. 

This is one of the reasons that many have turned to financial services such as structured settlement buyers that can offer a lump sum instead of ongoing payments.

Limited Safety Nets

For quite a few years, many workers that were considering their options for retirement simply assumed that Social Security payments would be paid back after years of being taken from their wages. 

Up until a few years ago, these programs were then considered to be a supplemental form of income when retiring, but those days are long gone. Today's middle income families often assume that there will be absolutely no financial safety net unless they turn to the private sector for their savings. 

'The One-Page Financial Plan' -- Simple, But Not Simplistic   
Therefore, when my colleague and New York Times contributor Carl Richards first asked me a couple years ago to think about what a financial plan might look like if it was constrained to a single page, I was skeptical. After all, I'd dedicated my life ...

Medical Bills

Unexpected medical bills can take a toll on anyone's finances. Even though you may get compensation for injuries sustained to due to another person's neglect, you may not see the money right away, making it difficult to pay medical bills. 

If you have won a structured settlement, consider selling it to pay off your debt. Visit for more information.

Studies carried out by the PEW Research Center show that the divide between middle class families and upper class families continues to widen. 

This is why so many must now search for inventive ways to gain some momentum when it comes to financial mobility. 

Talk to a financial expert if you feel stuck or can't find a way to get out of debt. It's important to take control of your finances now if you feel overwhelmed. 

The sooner you make a better financial plan, the better off you will be in the long and short run.

Friday, February 1, 2013

Plan Ahead To Enjoy Your Retirement

Many of us hope to enjoy our retirement years sleeping in as late as we’d like or filling our days with the passions and hobbies that were put to the side during our working days. Traveling, visiting grandchildren, and taking up new interests are all beckoning as retirement draws nearer. 

However, without some careful planning, living on a fixed income and a new form of healthcare insurance can pose a struggle that will dampen those dreams of retirement. Unfortunately, the majority of us are somewhat behind in our retirement planning and haven’t made a plan to help us transition successfully to retirement. Wherever you are on the path to retirement, the time to make a plan is now. 

Plan Each Step Before You Take It

Simple advice, right? Just as in a chess game, each move you make in preparing for retirement will have an effect on the next move. You will want to consider factors such as when to retire, the quality of life you hope to enjoy, the dreams you want to live out, and the situations that you need to prepare for. Each of these decisions will be easier to make when you have time to study the consequences and contributing factors.

1- When is the right time to retire? Your retirement age will be influenced by the legal age of retirement in order to receive Social Security and Medicare. It may also be affected by the number of years you have put into your current job or the level of tenure which you have attained. Retirement budgets are usually calculated based on your age, the amount of savings and other financial resources you’ve set aside, and the retirement income you have earned from your qualifying jobs. Utilize an online retirement calculator or consult with a professional retirement planner so that you can retire at the most beneficial age.

2- Work out a retirement budget. List any of the debts that you currently have, your costs of living, and any other necessary and desired expenses. Use this information to create a budget. Keep in mind any new hobbies or activities that you are hoping to engage in. If you are hoping to begin traveling, then you will need to calculate those costs ahead of time if you hope to be able to afford any trips.

3- Plan ways to reduce unnecessary costs. While most of us hope to enjoy the same manner of living that we had while working, this is far from guaranteed. Planning ahead is the first step in protecting your income. Learning how to reduce living expenses is the second step. When you reduce your costs now and set aside the extra money, you will be better prepared to handle the emergencies and other unexpected expenses that will invariably occur.

4- Learn to spend wisely. Before retirement, many of us simply live from paycheck to paycheck and spend only what is left after paying bills. Living on a retirement income may present a new problem, especially if a substantial part of your income will come from savings that you can access readily. You may wish to re-take financial classes that you once took as a new homeowner or when you first began investing. You should probably consider enrolling in a course that is specifically taught to educate men and women approaching retirement. With this information, you will be better prepared to make the decisions that affect you personally.

5- During retirement, it will be more important than ever to know how to save your money. Don’t spend as if you don’t have another twenty years ahead of you. People are living longer than ever before and you may need to plan for several decades of retirement. You may feel tempted to spend money up front thinking that your expenses will remain stable. However, many aging adults find that the costs of living for seniors rise suddenly due to increased medical bills and other expenses related to getting older. 

A Successful Retirement Plan

After working for most of your life, you hope to enjoy a stable and peaceful retirement. If you want to avoid depending on your children or making other sacrifices of independence, then plan ahead and carefully consider each step before you take it. With a well-thought out budget and the determination to stick to it, you will have the monthly resources to meet your bills and financial obligations. By developing habits of frugal spending and generous saving, you can feel more comfortable pondering the future years approaching.


Lauren Hill is a freelance writer, wife and mother of 2 really awesome kids. She enjoys writing on topics affecting our everyday lives. When she finds free time, you can find her in the garden, driving her kids to activities or blogging at

Wednesday, February 16, 2011

Your Budget Will Always Fail If You Don't Have This One Ingredient

Budgeting is the backbone of your financial plan. It's a spending plan that tells your money where to go every month. We all have various reasons to have a spending plan. It can be saving for retirement, getting out of debt or saving for a house or car.

The fuel to make this plan come all together is your income. Budgeting your income channels the money to a future purpose. Now a days money is at a premium, people have lost jobs and income is reduced. On the other hand expenses are going up. My insurance, property taxes, and consumables have all risen sharply in the last few years. The spending plan is tighter than ever.

How To: Create A Budget

The problem is that you don't have the money to save anymore. Your just making the bills and this is the worst time to put money into retirement or paying off debt. In my own situation, my health care used to be paid for at my business. Now the money just isn't their anymore. It now comes out of my income every month. Like me, many others have incomes reduced or eliminated causing a drastic cut back in lifestyle and spending.

The cure for all this is to find other channels of income. Whether it's a part time job or a home based business. If you are thinking you already work 6 or 7 days a week now, how can I work more? You will have to find the way that works in your life. This is not going to be easy. If your fluent in computers build a website and sell something. Have a garage sale on Ebay.

Budgets: Hold Your Nose and Try One

If computers are not your thing then, find a way to use your job specific knowledge and do what you do at work for clients. Starting a business at home will have low start up costs and it lets you test the waters cheaply to see if your idea will fly.

You need the increased income to jump start your goals. We all need to do something on the side. It may grow into to something substantial, it may flounder, or it may make you some money that will give you an income, that will take you into retirement. Don't just sit there in front of the TV complaining. Shut off "Biggest Loser" and make yourself the biggest winner.

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