Nest Egg: How to Finance Your Golden Years with a Golden Goose

It’s never too soon to plan for retirement. In fact, the more time you spend getting ready for that stage of life, the better prepared you will be. Here are several ways to finance your senior years to ensure a comfortable quality of life.

Job Pension

If you work for a company that offers a pension plan, especially one that matches employee contributions, with each paycheck from which funds are deducted for this purpose you are building a financial future for the golden year. 

Pensions come in many types, sizes, and designs. If your company offers an optional plan that you have not yet enrolled in, you should schedule some time with the Benefits Administrator to discuss your pension options. 

If you are able to withdraw funds at various times, try to avoid doing so, as this will reduce your pension savings, leaving you with smaller monthly payments during retirement.

Financial Investments

Stock and bond investments, along with other types, can be established as conservative or aggressive portfolios. The sooner you open an investment account, the quicker it will begin to gain value and compound earnings. 

Gold and silver are also collected to earn profit over time, as are the current digital currencies like bitcoin, among others. Some people collect things that they expect to increase in value over many years, such as sports cards, valuable coins, and limited editions of collector items like dolls, antiques, etc. 

As some items increase in value over time, they can be sold to generate income for the senior years.

Social Security

When planning to retire, contact the Social Security Administration for information about your full retirement age, which can vary among different groups of people. Although you can retire at any age, for example at age 62, your full retirement age may actually be 66. 

You should also find out how many years of your employment have had Social Security deductions. You can also talk to a social security lawyer for additional help and tips. If you work in an industry that features a pension contribution plan, you might not have Social Security funds withheld. 

If you have changed jobs, your Social Security status may likewise have changed. Contact the SSA for details.

Home Equity

Paying off a primary residence or building significant equity over time can be a valuable asset in retirement. 

Not only will you be free of a monthly mortgage payment if you pay off the home, but you also may be able to use the accumulated home equity of the property as a source of borrowed funds, if needed.

Everyone needs a secure source of income when retirement rolls around. Start feathering your golden goose nest with assets like these.

Taxes 2018: 4 Ways to Make the Process Seamless and Simple

As the deadline to file your taxes draws closer and closer, you might find yourself panicking, wondering how you’ll ever complete your taxes on time. Taxes can be quite challenging as you go back over an entire year of financial transactions, many of which may have happened several months ago. 

Fortunately, with the right planning and advice, you can be well on your way to having your taxes filed quickly and easily.

Prepare in Advance

The best way to make your tax preparation easy is to prepare everything you’ll need in advance. It might be tedious if you haven’t had a chance to keep track of tax receipts throughout the year but it’s much better than missing something that ends up shorting you on your refund or getting you audited. 

Go through all of your bank statements, earnings reports, online transactions, and loose receipts to look for anything which might be applicable to your tax return. Even if you’re not sure, go ahead and set the receipt aside so you’ll know right where it is if you do need it. 



Then, as you begin to prepare your return, you can work through the receipts on the fly to have the correct figures for each form.

Ask Questions

If there’s anything on your return that you’re not absolutely sure about, be sure to ask someone who knows. Whether you do an online search or consult the knowledge database associated with a tax preparation program, it’s likely the answer to your question is already out there. 

If not, find a way to ask your question and be sure it’s answered to your satisfaction before you complete the form the question was in regards to. Again, it’s better to take the extra time to have your question answered than to guess and be wrong.

A Hired Hand

By far, the best way to ensure your taxes are done quickly, easily, and correctly is to hire a CPA to do your taxes for you. CPAs understand all the laws concerning your tax return, so you can rest assured that you’re getting your maximum refund without doing anything that could cause you trouble down the road. 

Many a professional CPA offer guarantees so that if you do run into trouble, you’ll have someone to assist you, rather than trying to fight it alone.

All at Once

Whether you do your taxes yourself or hire someone else to do it, be sure you work to get your return entirely completed in one sitting if at all possible. If you start to do it over a long period of time, you may forget progress you have already made, potentially leading to costly mistakes. 

Not only that, but if you’re like most people, taxes aren’t the most fun way to be spending your time, anyway, so spending as little time on it as possible will lessen the misery you have to endure.

For all the info collecting and researching you have to do to get your taxes completed correctly, remember that there is a finish line to the process. 

There will be a day when you’re finally able to submit your return and maybe even get a little money back in the process. If you keep this in mind during the tax return process, you’ll be much less likely to be overwhelmed by it so it won’t cause more stress than it needs to.

How to Market Your Business Using the Newest Technologies Available

The Internet has changed the way companies market their business. What some call "old marketing" or "conventional marketing" refers to the use of advertising in bulletins, magazines, newspapers, billboards, and television. 

Any company that wants to survive today needs to embrace the fact that social media, online networks and communities, and the wide use of smartphones play a vital role in how their message will be received by their target market.

They also benefit from the fact that their business message is able to reach a much wider market thanks to the Internet. Gone are the days when only people in the same geographical location could meet for networking and the sharing of ideas. 

Now there are online or virtual communities where people from all different parts of the world can connect and collaborate easily. For example:

• Passionate boaters and expert service providers can interact on sites like https://boatplanet.com/
• Moms who want to share ideas about things like parenting, pregnancy, relationships, home, food, beauty, and style can meet on http://www.cafemom.com/, and 
• Art lovers can get inspired by a huge range of artwork from artists around the world on https://www.deviantart.com/.

Social Media

No marketing plan is complete without taking advantage of the viral nature of social media and by staying up-to-date with the latest techniques and trends. The benefit of using social media as an online communications tools is to help businesses increase their brand awareness, establish new relationships, and enhance current relationships. 



The viral aspect of social media refers to its ability to expand a businesses’ reach instantly to millions of people at the same time. However, it is important to understand how and why social media works. 

It is called "social" for a reason. If you use it only to blast out your message to the world in a one-way conversation, you are missing out on the real purpose. Focus on the relationship building aspect of social media and be sure to make your conversation a two-way street. Social media used effectively will help your business build trust in your brand and position you as the expert in your field.

Video Marketing

Video marketing has been rising in popularity for a few years now because it builds trust, engages its viewers, can explain anything, boosts sales and conversions, and encourages social sharing. 

Advances in technology have made video advertising more affordable resulting in widespread adoption from companies large and small.

Now that so many companies are using video marketing, what can you do to make yours stand out from your competitors? Create videos that are compelling, engaging, entertaining, and funny. 

For example, New Relic is a digital intelligence company with many tutorials and webinars on their channel, but their most popular video is a funny rap video about coding. Taking what could be a rather dry topic and creatively turning it into something fun can be very effective. 

McDonald's ran a video marketing campaign a few years ago to educate consumers as a response to a picture of their chicken McNuggets that went viral. The picture showed a rose-colored poultry paste referred to as "pink goop" causing their customers to question the quality of the ingredients. 

McDonald's in Canada created a video literally walking through the manufacturing facility so viewers could see how their products are made.

Artificial Intelligence Virtual Assistance

This might sound like a science fiction concept, but it actually isn’t. Most people are already using artificial intelligence (AI) without even realizing it. Do you talk to Siri? 

If you do, then you are talking to an artificially intelligent entity. There are many AI personal assistants available to business owners that can handle everyday tasks like scheduling and sending out meeting reminders. x.ai provides AI personal assistants to companies that will automatically schedule meetings for business owners so they can spend their valuable time on ways to increase their bottom line. 

These kinds of tools are extremely helpful to companies with a small staff and a limited budget to help them make the best use of their time.

In order to remain competitive and be successful, business owners should stay on top of the latest and newest technologies available. Do your research to determine which ones are best suited for your business. 

Why You Will Run Out of Money in Retirement

Retirement used to be about enjoying your golden years. For many, it was a time to travel or to relax without the need to earn a paycheck. However, times have changed and today, the very thought of retirement brings dread to those 50 and over.

There is a simple reason for this – most of us don’t have the money we need to enjoy a partial retirement, let allow life without work. Don’t believe me, then look at this article about how many Americans lack any sort of savings for an emergency.

To make matters worse, the Federal Government is now running annual deficits of more than $1 trillion and some observers believe the total combined government debt in the U.S. is reaching $70 trillion – that is roughly three-years’ GDP.

Don’t forget Social Security. In fact, this has become the fallback option for most Americans but the reality is that some forecasts predict the trust fund behind those monthly payments will run out of money in the 2030’s.

Think about it, if you are in your mid-50’s the odds are that there won’t be any money left in Social Security by the time you reach retirement age. At least there are pensions. 



Well, unless you are a government employee, the odds are that your employer long ago switched to a 401k plan. In fact, it’s even worse if you are working as a consultant or a contractor as you are basically on your own.

Ok, enough with the scare tactics. I think you get the point – you will probably run out of money in retirement. That is clear and odds are you already know this. The real reason you are reading this article is to find out what you can do to find some semblance of financial freedom in your golden years.

Step 1: Start Saving Something, Anything

While most financial advisors recommend that you should be saving 15 percent of your monthly income. The reality is that this is often a bridge too far for many Americans. Think about it, times are tough and you are probably just making ends meet. 

To make matters worse, the rear differential on your car is probably starting to give you problems.

As such, the idea of setting a goal of saving 15 percent of your income can be daunting. However, saving 1 percent or 5 percent might be something more realistic. The added plus is that it gets you into the habit of stowing away a little bit of cash each month. 

So, start saving something, anything today and build on that as you go. Not only will you gain some satisfaction from your growing bank balance but once you get enough money – maybe $500 or so, you can start to put that money into an interest-bearing account. In this way, your money can help you make more money.

Step 2: Cut Back on Your Expenses

Take your monthly cable TV bill. Some people are paying more than $200 every month to have 1,000 channels of nothing that they never watch. 

You don’t need to be a rocket scientist to know that this does not compute. Even better, you don’t need to be a techie to figure out ways to watch TV without cable.

Another way to cut back on your expenses is to stop eating out so much. Sure, it is good to support your local businesses but the reality is that eating out generally costs more than cooking at home – a lot more.

Also, don’t fall for those ‘meal box’ subscription services. Yes, some of the recipes are inventive and it saves time when shopping. 

However, you are paying a premium for these services and you can probably get most of the recipes online and the ingredients either through Amazon or at your local supermarket.

An added plus to cutting back on your expenses is that once you get started, you get passionate about finding ways to save money. 

This brings us to an important fact – a penny saved truly is a penny earned. So, if you can find a way to save $200 a month or more that works out roughly $2,400 a year that you have for retirement.

Step 3: Sell Your Home While the Price is High

It used to be that owning your home was a key part of the American Dream. However, if you are over 50, still paying a mortgage, and have no money saved for retirement, then you need to get radical.

One of the best ways to do this is to look at the equity you have in your home – if you are lucky enough to not be underwater on your mortgage. As such, you might want to steal a page from those annoying Millennials at work by rethinking your housing arrangements.

In some cases, this might mean selling your home so that you can cash before the market turns and in other cases, it might mean finding ways to sublet your home as this will turn a massive expense into a revenue-generating operation.

6 Costs You Must Consider Before Becoming Self-Employed

If you have always dreamed of being your own boss, setting your own hours, and doing something you’re passionate about, then becoming self-employed may be the best option for you. 

However, no matter how big your dreams are, you need to fully understand the reality of being self-employed and what it will actually cost you. 

Before you tell your boss to peace out and start pursuing your dreams, here are the six costs you must consider before making your final decision.

1. Lack of a consistent paycheck.

The biggest monetary concern you must face when becoming self-employed is having a lack of a consistent paycheck. Sure, you may think that you’ll reap all the profits of a successful business, but it could take months or years before you make any real profit that comes close to what you were making as a full-time employee. 

Be sure you look into your currently monthly expenses as well as the expected expenses of the business, and then determine what you need to bring in to make ends meet. If you plan on living off of your savings account, you want to know just how long your savings will last before your company needs to start making money. 



If you don’t consider this, you could put yourself into a very bad financial situation too quickly, and it could be detrimental to your personal finances as well as your business.

2. Start-up costs.

In order to start a business, you need to make sure it’s legitimate. This means you need to file your business with your local governments, and this typically requires a small fee. 

In addition, if you need to produce products, build inventory, or purchase equipment to do a specific service, these are all expenses you’ll need to provide upfront to get the business up and running. 

Throw in other necessities, such as a website or other marketing collateral, and you could find yourself with a hefty start-up cost expense list. Be sure to have a full understanding of what these are so you can be financially prepared for what’s to come.

3. Insurance costs.

When you are self-employed, you’ll be responsible for two different types of insurance: insurance for yourself as well as insurance for your business. 

For the business, you’ll need to make sure you’re getting all the coverage you need to keep your company protected from liabilities, workman’s compensation, insurance coverage for employees, and anything else that is necessary for your specific operation. 

As for personal insurance, you’ll no longer have an employer covering all of or a percentage of your medical/dental/vision/life insurance, which means you’ll need to pay for this out of pocket. 

Be sure to shop around for the best deals and do some research by looking at reviews and seeing what other people have to say about the company before making your final decision.

4. Legal fees.

When you’re starting a business, it’s always a good idea to ensure you’re following the laws appropriately, and this means using the assistance of a lawyer. 

However, legal fees can add up, and if you’re not prepared for these, it could damage your business. Be sure to meet with a variety of different lawyers in your area and choose the one that you have a good rapport with as well as one whose fees aren’t astronomical. 

Also, have a clear understanding of how their fees and payment structures work so you’re not blindsided with a giant bill for asking them a question over the phone or having them draw up a contract.

5. Technology costs.

Most entrepreneurs will start their company from their home, and that’s a good way to lower the start-up costs without taking on additional rent or mortgage payments. 

However, while running a business, you may find that the technology you currently have will not suffice. For instance, maybe you need a landline, a fax machine, accounts payable/receivable software, or a higher internet speed to help your business operate. 

Any of this will create a higher technology cost on your end, and you need to be prepared to pay for this.

6. Taxes.

If this is your first time being self-employed, you need to understand that filing your taxes will be different than years past. As a business owner, you’ll need to account for all of your spending, which means you will likely want to itemize expenses. 

In order to do this appropriately, you’ll need to keep records of your expenses, which means keeping receipts, bill statements, check stubs, and anything else that can prove an expense for your business. 

In addition, you want to be aware of any self-employed tax credits you’re eligible for, as those can help reduce the amount of taxes you owe.

Running your own business can be a dream come true, but it’s also a lot of work you need to prepare for, especially when it comes to keeping your finances in order.

A Beginners Guide to Investing

Trading the equity market requires an understanding of why stocks move, and what are the catalyst that drive share prices. Most people view the stock market as a single entity, but indices like the S&P 500 index are made up of individual stocks. 

A share of stock is ownership of the profits or losses that a company produces. To determine how much a share is worth you need to know how much profit or loss a company is generating.

What is a Share?

While many brokers offer CFDs on share prices, the underlying instrument that a CFD targets is the stock price. A stock is the partial ownership of a company and allows you to share in the profit and losses a company produces. 

By owning shares in a company, you are sometime eligible to vote for the company’s board of directors, as well as any special elections. Additionally, you are eligible to receive dividends which are payments from the company back to its shareholders.

When do Companies Report Profits

Most companies report profits or losses to their share holders on a quarterly basis. A quarterly earnings report, provides investors with several pieces of information which include profits, revenues, earnings per share, cash flow, as well as if the company plans on distributing a dividend. 



Most companies also offer forward guidance to their investors. This information includes what the company expects to earn during the next quarter and for the entire year, as well as the revenues they plan to generate during these periods.

What Do Trader’s Pay Attention Too?

Earnings and revenues that are reported for a quarter are pieces of information that have occurred in the past. For this reason, what is important is the numbers relative to expectations. 

Ahead of some earnings releases, analysts that cover a company will update their expectations of a company’s upcoming earnings announcement. If earnings and revenue are better than expected, the stock price might move higher. If the financial results are worse than expected, the news might create a selloff in the share price.

If earnings are lower or higher due to, for example, a one-time tax gain, traders will generally minimize the effect of the one-time gain or loss on the stock price. Investors will also evaluate a company’s forward guidance relative to expectations from the analyst community. 

If guidance is worse than expected, it might generate an adverse move for the stock price. If guidance is better than expected, the stock price might experience a rally.

How Do Analysts Calculate the Target Price?

Equity analysts uses the earnings multiple of a stock to calculate the future target price of a share. The earnings multiple along with expectations of future earnings are both subjective, which makes the process somewhat of an art. 

 The earnings multiple is provided by the market. You can use similar companies to arrive at your multiple. For example, if the earnings multiple of Pepsi is 15, you could assume that Coke has some similar earnings multiple. 

The multiple is then used to calculate the stock price by multiplying the multiple by your estimate of future earnings.