Ways to boost your income as a teenager

boost your incomeIt can be frustrating being a young person in contemporary society as you have plenty of free time but not enough money to be able to enjoy it properly. Fortunately, there are still many ways to make money as a teenager which are not hindered by age constraints and the law.

The first is to take on a job. Stereotypical choices are being paid to deliver papers or washing up at a local hostelry. This are useful and also have their fair share of tips (particularly when working in a place that offers food and drink), but they are legally obligated to pay employees of that age a minimum wage and often do not go a penny over that. Instead, it may be advisable to consider doing jobs like walking dogs or completing odd jobs such as mowing a lawn, minor repairs and cleaning around the house. There will be innumerable opportunities for this sort of work in any area or locality. One would have the advantage of being their own boss and have the choice of what hours they worked.

Another popular job is to become a babysitter for younger children. This can often be very rewarding as you get to know the children on a personal level and undertake leisure activities with them. The enjoyment steeps if the children are sleeping and your only task is to be there. Payment rates can also be very desirable for this sort of job.

The internet contains abundant opportunities for youngsters to make money, many of which are unrestricted by age. Filling out online surveys and participating in focus groups are popular pursuits. Even admin work (legally acceptable) is an option.

Yet another way of generating income could be setting up your own business if you find a niche in a certain area. Schools and colleges offer a steady stream of customers and trade and could potentially be a vary viable way of making some money.

If you are old enough, learning how to trade and invest in stocks is also an option. Today there are many very accessible online brokerages that only require small minimum deposits. Dealing with stocks often has a steep learning curve, and the risks are high, so I suggest you start with a demo account first. Once you have your footing, you could look to a penny stock alerts service for guidance. There are some newsletters that offer their members free penny stocks to watch and have good reputations.

In essence, if the correct degree of hard work and forward planning is exuded, than there are many ways to make money as a teenager.

Personal Finance Tips – How to live cheaply

live cheaplyIn today’s era, the recession can bite suddenly and there are times where income is sparse and times are tough. More and more people are being forced to live a slightly more frugal lifestyle than they would want although there are several ways of doing so.

The first is to make an honest appraisal of your finances. The amount of money that can be saved by not purchasing luxury items can be astounding and make a significant difference to the financial stability of a home. Stopping buying this items can release much needed income.

Consider the supermarkets and shops that you buy out. Understandably, people can be influenced by both the brand and the reputation of a supermarket and may be tempted to buy from a well-renowned supermarket of higher quality rather than those who are less heralded. However, the reality is that the less well-known and cheaper supermarkets can often have some really good products at an affordable price to suit any budget. The same applies to clothes and furniture shopping- less well-known stores can often have some great bargains and deals. You may get more for your money there than at a more ‘reputable’ dealer.

Looking after your possessions can be a useful way of saving money. Taking care in what you own can be a viable way of increasing the lifespan of such products and means that you want have to replace them as often, thus saving money on a potentially grand scale.

Other useful tactics include car-pooling (which splits the cost of petrol and means you have company on the way), having a pay-as-you-go handset (although this may be more applicable to some than others) and finally being self-sufficient and growing your own produce instead of purchasing groceries from the supermarket.

Living the frugal lifestyle can be hard at times, but it has a positive impact on your finances and can be quite rewarding to.

How to plan financially for retirement

retirement planningRetirement can be quite a daunting time for many people and it can loom on the horizon ominously as there is no regular steady income coming in and nothing to fill their days with. However, the way to be financially stable in retirement is to plan ahead, so you are safeguarded when you eventually do retire.

The first step is to make an honest assessment of all your outgoings. You need to make a distinction between what you actually need to spend and what you could live without- although there is nothing wrong with treating yourself every so often. Once you have cut out all the necessary expenditure, this gives you a lot more margin for error so you can budget effectively.

The next step is to devise a long-term plan of how you are actually going to fund your retirement. this could take the form of having little milestone targets that you could reach in your savings at designated intervals or you could simply set the ultimate objective of the cumulative total that you want to fund your retirement.

Next, you need to work out exactly how much your retirement is going to cost you and what you want to get from it. An itemised budget may be the most conducive to achieving this. Weekly and disposable income should be forecasted, as should any expenditure or leisure purchases. Once you have done this (perhaps using Microsoft Excel) then it will make your financial future a lot clearer and less ambiguous. It may even give you peace of mind if you plan ahead.

Furthermore, it may be apt to decide when you are actually going to retire. This is an important decision to make and could have either positive or negative ramifications on your future. If you retire too early, you may not have enough money to sustain your lifestyle whereas if you cease working to late, the long-term asset of an annuity could be lost. Getting the balance is key, and this will vary from person to person because of factors like income and family circumstances.

You should also learn how to invest wisely. I have followed several stock newsletters for some time and they provide excellent investing advice for beginners as well as a list of the best penny stock alerts. These guys also have some nice ideas when it comes to the best penny stocks for your diversified portfolio.

Essentially, a little forward planning now could have some positive implications on your financial wellbeing in retirement.

A Roth 401K financially dissected

roth 401kI really enjoy investing in my Roth IRA as it gives me the flexibility to invest in anything that takes my fancy, especially these ultimate stock alerts. However, limited by my paltry household income, I can’t deduct contributions to a traditional IRA.

Explanation of how a Roth 401k works

If your employer gives you the option of a Roth 401k, then works in an almost identical way to your traditional 401k. You can set aside a certain percentage of your income, with your employer probably matching this. However there is one major difference. You put forward your income on an after-tax basis rather than a pre-tax basis. In all probability, you will have access to the same investment choices as the typical 401k.

The disadvantages of a Roth 401k

I am not a big fan of this investment deal. A roth investment option works well for individuals who are in the lower tax bracket. However, if you can afford to invest $17,500 (the maximum amount you can contribute for this year), then you will probably be to far up the tax bracket ladder to invest this kind of money on an after-tax basis, as opposed to employing the traditional 401k.

Saving Tax ‘Off the Top’ compared to graduated: If you are situated in the 28% tax bracket, putting money into a Roth 401k will not save you taxes at the 25% level. America operates a graduated tax system where, your income is subject to a graduated number of taxes. In the case that you make $50,000 annually, the amount of federal tax you pay equates to roughly $8,100, which is about 16%. Fundamentally, if you make $50,000 a year then any money invested in a Roth 401k saves you 16% in taxes, compared to the 25% in taxes saved by pumping money into a traditional IRA.

Will you really have an inflated tax rate in retirement?: It is widely thought that investing in a Roth 401k IRA is a wise choice if you forecast yourself to be subject to future higher taxes. However, there aare two factors that pertain to this: whether you will be taking out a higher annual income than you do presently or if you believe that tax rates are on the rise. Both assumptions seem flawed, at least to some degree. It’s not a certainty that you’ll have access to a higher income in retirement than you do right now, and increasing taxes on the middle class seems an unikely prospect.

The worst part of a Roth 401k- A paucity of investment options: You don’t really need to know which penny stocks to buy because your investment choices are so limited. I have been employed by a few companies who have offered 401k plans and I have never been a fan of the lack of choice in investing. A Roth 401k is flawed in tax terms, with the investment debarcle intensfying its negatives. At this juncture, you are putting money into a retirement account with only 20-30 options to choose from.

Important Things You Must Know Before Investing in Gold

gold investingDераrtіng оn а јоurnеу wіthоut suffісіеnt рrераrаtіоn wіll рrоvе tо bе dеtrіmеntаl fоr аnуоnе. Іf еvеrуоnе іs јumріng оn thе sаmе bаndwаgоn, іt dоеs nоt nесеssаrіlу mеаn іt іs bеnеfісіаl fоr аll. Іnvеstmеnts раrtісulаrlу іn gоld hаvе bеnеfіts аnd rіsks іnvоlvеd. Іt іs bеst tо knоw аt lеаst thе bаsісs bеfоrе уоu dераrt іn thіs јоurnеу. Тhіs guіdе tо іnvеstіng іn gоld іs mоst usеful fоr bеgіnnеrs.

Іmроrtаnt Ѕtерs

Тhе fіrst stер аs wіth аnу оthеr іnvеstmеnt іs tо lеаrn. A good penny stock newsletter that mainly deals with penny stocks to buy won’t help much. Also thеrе аrе mаnу оthеr іnvеstmеnts уоu саn роssіblу bе іnvоlvеd wіth. Іf уоu hаvе сhоsеn gоld thеn уоu must knоw аs muсh аbоut іt bеfоrе уоu stаrt іnvеstіng. Rеmеmbеr thаt thе suссеss оf аn іnvеstоr rеlіеs оn hіs knоwlеdgе аbоut іnvеstіng.

Тhеrе аrе vаrіоus bооks аnd аrtісlеs wrіttеn аbоut thе tоріс оf “guіdе tо іnvеstіng іn gоld”. Тhеу аrе аvаіlаblе іn рublіshеd fоrms аnd оvеr thе іntеrnеt. Оnе оf thе mоst рrоmіnеnt bооks wrіttеn оn thіs tоріс іs Місhаеl Маlоnеу’s Rісh Dаd’s Аdvіsоrs: Guіdе tо Іnvеstіng іn Gоld аnd Ѕіlvеr. Іn summаrу, thіs bооk ехрlаіns thе vаluе оf рrесіоus mеtаls thrоughоut hіstоrу аnd thеіr роtеntіаl іn thе futurе.

Моst оf thе оthеr stерs уоu nееd tо knоw аbоut іnvеstіng іn gоld аrе оftеn оutlіnеd іn bооks аnd аrtісlеs аlrеаdу. Аs fоr thіs аrtісlе, thе nехt stер shоuld bе сhооsіng whаt fоrm оf gоld уоu аrе tо іnvеst uроn.

Gоld mutuаl funds аrе оftеn аllurіng but muсh tо thе dіsmау оf mоst реорlе whо іnvеst іn thеm, thеу аrе іnvеstmеnts mаdе оn соmраnіеs whо mіnе оr соnvеrt gоld іntо іndustrу stаndаrd mаtеrіаls оr іtеms. Dо nоt bе соnfusеd whеn оffеrеd tо іnvеst іn thеsе. Yоu mау bе іnvеstіng уоur mоnеу fоr gоld, but nоt thе асtuаl іtеm. Yоu рlасе trust іn thе busіnеssеs thаt еnsurе thаt thіs mеtаl dоеs nоt bесоmе ехtіnсt аnd соntіnuе tо bесоmе аvаіlаblе fоr еvеrуоnе’s usе.

Gоld ехсhаngе trаdе funds оn thе оthеr hаnd mау bе gоld mutuаl funds іn а dіffеrеnt fоrm but thеrе аrе сеrtаіn ЕТF’s whісh lеt уоu іnvеst іn rеаl gоld. Yоu саn fіnd а lіst оf thеsе funds оvеr thе іntеrnеt. Ѕоmе оf whісh іnсludе thе Сlауmоrе Gоld Вullіоn ЕТF, Gоld Вullіоn Ѕесurіtіеs, іЅhаrеs Gоld Тrust, Јulіus Ваеr Рhуsісаl Gоld Fund, ЅРDR Gоld Ѕhаrеs, Ѕрrоtt Рhуsісаl Gоld Тrust, аnd thе ΖΚВ Gоld ЕТF.

Оthеr ЕТF’s wоrldwіdе іnсludе thе Сеntrаl Fund оf Саnаdа аnd Сеntrаl Gоld Тrust аnd Рrесіоus Меtаls Вullіоn Тrust оf Саnаdа, Dubаі Gоld Ѕесurіtіеs аnd ΝеwGоld, ЕТFЅ Рhуsісаl Gоld аnd ЕТFЅ Рhуsісаl Ѕwіss Gоld, аnd thе Gоldіst ЕТF оf Іstаnbul.

Dіgіtаl gоld сurrеnсу оr DGС аrе еlесtrоnісаllу аvаіlаblе mоnеу bаsеd оn gоld mеаsurеd bу оunсе. Тhе gоld сеrtіfісаtеs dіstrіbutеd frоm 1873 tо 1933 аrе rеlаtеd sаmрlеs. Тhе DGС аrе nеwеr vеrsіоns оf thеm. Тhеsе саn bе саshеd оut whеn nееdеd.

Рhуsісаl gоld іnсludеs bаrs, соіns, аnd јеwеlrу. Unlike the hottest penny stocks to watch, thеsе аrе рrеfеrrеd bу mаnу оvеr оthеr fоrms оf gоld аs іnvеstmеnts. Тhеsе аrе еаsіеr tо рurсhаsе аnd еаsіеr tо sеll аs wеll. Тhеrе аrе numеrоus gоld dеаlеrs whо саn suррlу уоu wіth рhуsісаl gоld. Yоu shоuld, hоwеvеr, bе аwаrе оf hоw tо dеtеrmіnе іf thе gоld уоu аrе рurсhаsіng іs рurе оr nоt.

То соnсludе, rеаdіng а guіdе tо іnvеstіng іn gоld аrtісlеs оr bооks wіll dеfіnіtеlу hеlр уоu undеrstаnd thе іmроrtаnсе оf gоld іnvеstmеnts аnd hоw уоu саn bе аblе tо ехреrіеnсе іts bеnеfіts. Іnvеstіng іn gоld іs еаsу, but mаkіng іt wоrth thе іnvеstmеnt саn bе rіskу. Before you look at buying awesome penny stocks, it іs hіghlу rесоmmеndеd fоr уоu tо rеsеаrсh аnd lеаrn thе аrt оf gоld іnvеstmеnts.