Archive for the “Self Employed” category

Why You Can’t Rely On A Salary To Get Rich

18th Jul 2014Home Based Business, Income, Retirement, Savings, Self Employed, Success, Work from home

I’ll answer this with the same advice I’ve given my kids. First off, forget about your bachelor’s in computer science. I did that and then went to grad school for CS. Worthless.

The only way to make real wealth is to get rid of your salary. In a salary, by definition, you are creating wealth for others and you are creating a chain and handcuffs for yourself.

Some people like that but it’s not the way to make $250,000 a year or whatever you want to make (why’d you pick $250,000?).

I’m on the board of a billion revs employment agency. I can tell you the facts: Income is going down relative to inflation for 40 years in a row. And the entire middle class is getting fired. I don’t mean this in a scary way. It’s just the facts right now. Maybe it will change. I hope so, but I doubt it.

I’m not even suggesting go out and start a company. Running a company is a lot of painful work. Employees have sex with each other, clients want bribes, and programs don’t work at demos.

More than half the unemployed have college degrees (another comment: “College is not just about the money.” And my response: “Then don’t let your kids get $100,000 in debt just so they can read books for a few years.”)

I wanted to find someone who was neither an entrepreneur in the traditional sense nor an employee somewhere.

I kept seeing this guy Steve Scott on Amazon. His books kept beating my books on Amazon’s lists. How could “23 Anti-Procrastination Habits” rank higher than “Choose Yourself!”

Other books would be: “70 Healthy Habits” or “How to Start a Successful Blog in One Hour.”

And every few weeks there would be another book. First I noticed it under Steve Scott. But then, with a completely different picture, I noticed the same style of books coming up under SJ Scott.

He was like a machine of books. “.99 is the New Free,” “Declutter Your Inbox,” and on and on.

So I called him. I didn’t know him. I didn’t have any friends who knew him. I think he lives in the middle of Ohio.

I wanted to know what the hell he was doing. I wanted my kids to do it so they would never have to have the worries and anxieties that I had all through my 20s and 30s.

He came on my podcast “The James Altucher Show” (I’m not trying to get you to listen to it. I’m going to tell you everything he said here).

He told me just two years ago he was dead broke and trying to figure out what to do. He had basically zero in the bank and was making no money.

“Last month I made over $40,000,” he told me. He’s written 42 books in the past two years. He now writes a book every three weeks.

“Can anyone do this?” I asked him.

And he said, “yes,” and we made a podcast out of it because I wanted everyone to hear his detailed answers. You can listen for free on iTunes or Stitcher (for Android phones).

He basically writes 2,000 words a day. In the front of each book he has various things he gives away for free if people sign up for his email list.

“Take a concept you’re interested in,” he told me, ” and break it up into a lot of parts and write a book about each part.

“For instance, if you are interested in golf, write a book about how to get the right equipment, write a book about how to improve your swing in 10 easy steps, write a book, “Learn to Putt 100% Better in 60 Minutes,” and so on.

Each book gets him more email subscribers. More email subscribers get him more book sales. And so on.

Did he study writing or marketing in college? You decide: He majored in criminal psychology at Montclair State University.

It took two years to build up, but now he is a marketing and entrepreneurial machine — even though he has never done anything like this before.

He has no boss. He enjoys his free time. He makes more money than 95% of the CEOs in the corporate world. If I were graduating with my CS degree this is what I would do right now instead of what I did do.

I asked him why he was being so transparent. Why he was telling me EVERYTHING. “Can’t anyone just copy what you do?”

“Sure,” he says. “But I work really hard.”

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This article originally appeared at Quora. Copyright 2014. Follow Quora on Twitter.

Original Source: QUORA
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Success doesn’t always come easy it requires hard work and dedication, but the great part about working your own business is that there’s no ceiling for success and your business can offer you time freedom that no other business can. So learn these home business tactics and put them into action, there’s nothing to hold you back from creating and operating a wildly successful home business today.

Employ These Tactics For Competitive Internet Marketing

129th Jan 2013Home Based Business, Internet Marketing, Network Marketing, Self Employed, Work from home,

Employ These Tactics For Competitive Internet Marketing

Internet marketing can be very intimidating to someone who has never done it before. It can easily lead to a bit of information overload because of all the resources available to those just starting out in internet marketing. Below are some tips to assist you in getting all of this information organized to where you can start marketing your website better.

When you are beginning, focus your efforts on just a few products so as to not overwhelm yourself or your customers. Get your feet wet with the products you are most familiar with so you can learn what types of promotions work the best for you and your offers.

When first designing a your website, it is important to consider several things. Who is your target audience, for example? What customers are you trying to attract? What would you like your website to achieve – higher profits or perhaps greater brand recognition? Answering basic questions like these will most effectively allow you to develop a successful on-line presence.

Make sure that you keep up an online presence by submitting articles to e-zines and posting to your blog and in forums on a regular basis. At the end of anything you post online put your name and a link to where people can expect to find you on the web. If people like your content they will click through out of curiosity.

Gather statistical data and analyze it. There’s no way to improve upon your site if you don’t know who is visiting, where they’re coming from, how often they stop by, and what keeps bringing them back (or keeps them away). Use a tool like Google Analytics to help achieve this.

Do not hide the real purpose of your website. Your visitors will know that you use your website to sell products. Do not be afraid to post links to buy your products or send emails about discounts. People will understand you are using the internet to market your business. Do it in an open and honest way.

An important tip regarding Internet marketing is to make sure that you have video posted on your site, as well as other popular video sites. This is important because not only is this method of communication a lot more personal and revealing, but it will also maximize your marketing coverage. Remember YouTube is the #2 search engine in the world

Hopefully, these tips have provided you with some very valuable information, as well as given you a way to organize all the information you may have already had on internet marketing. Keeping these tips in mind when you start marketing can help your website become very profitable in the long run.

 

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126th Jan 2013Freedom, Home Based Business, Income, Internet Marketing, Online Income, Self Employed, Success, Work from home, , , ,

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Moving Abroad an Option for Retiring Canadians

015th Jan 2013Business News, Canadians, Income, Real Estate, Retirement, Savings, Self Employed, Taxation, Taxes, Work from home, , , , , , , , , , ,

Dwindling pension benefits are forcing many Canadians to rethink how they’ll spend their golden years, but that doesn’t necessarily mean giving up their dreams of a sun-soaked retirement.

Some experts say that with proper planning, uprooting to an exotic locale can actually help cash-strapped seniors stretch their retirement dollars.

Aside from milder temperatures, they say many of the destinations favoured by Canadians — including parts of Mexico, Panama and Costa Rica — offer another advantage prized by those on a fixed income: a lower cost of living.

“It’s sometimes assumed that an international retirement vision or lifestyle is something that wealthy people pursue,” said Rod Burylo, a Calgary-based financial advisor specializing in international retirement.

“The reality is… some people retire to Mexico because it’s so darn cheap,” he said.

“One could reason, therefore, that if the economy suffered and their finances suffered, they may be more inclined to retire to Mexico because… they could have a better quality of life than they could have here.”

Many Canadians are having to make tough financial choices — including prolonging their careers or downsizing their homes — in preparing for retirement as debt-ridden governments and companies scale back benefits.

While financial considerations alone are rarely enough to prompt a drastic change of scenery, they often play an important role in the decision-making process, according to a recent survey by the BMO Retirement Institute.

The survey by one of Canada’s largest banks found more than 70 per cent of Canadians aged 45 or older have given thought to where they want to live out their golden years.

But it also found that while many fantasize about retreating to faraway lands, just over 10 per cent of respondents said they were willing to follow through and leave Canadian soil.

“I think you get people moving abroad for two reasons,” said Brian Burlacoff, a financial advisor with Sun Life Financial.

“You get a proportion of people who do want to spend time very purposely outside of Canada — snowbirds, for example, in Florida or Arizona — (and) they have a plan for that,” he said.

“But the other group that you get moving away are people that have no plan and they’re kind of drawing at straws because they have to find a place that’s less expensive to live in order to carry out their retirement objectives.”

That kind of “reactive” move, he said, is similar to trading a downtown Toronto lifestyle for a more affordable one in a neighbouring suburb.

But unlike a simple hop across municipal borders, crossing national boundaries can have serious tax and health care implications, he warned.

And even regions where the average day-to-day costs are low can drain the savings of those without a clear budget plan, he said.

A guidebook published by the Department of Foreign Affairs lays out the potential pitfalls for those looking to retire abroad, from the loss of Canadian citizenship or residency — and the resulting loss of health coverage — to the intricacies of foreign tax systems.

“Many developing countries lack the resources to collect taxes on foreign-source income, so they compensate by imposing high consumption taxes or import duties,” the document reads.

“Make sure you take into account all taxes, duties and fees, as well as the withholding taxes you will pay on income originating in Canada.”

Burlacoff and Burylo both recommend consulting an advisor who understands the specific challenges involved, and keeping in touch throughout the preparations and after the move.

At 61, Kerry Strayton believes he’s still up to a decade away from retirement, but that hasn’t stopped the Richmond, B.C., resident from getting a head start on his plans to retire abroad.

He’s already “actively researching” possible destinations for him and his wife, such as Colombia, Uruguay and Thailand — places with a pleasant climate and a thriving cultural scene, that he says are accessible enough that their son and daughter will be able to visit.

Moving seems like a necessity for the couple, whom Strayton says will have to live off their savings and his wife’s “small, very modest” pension given that his employer doesn’t offer a pension plan of its own.

He estimates it would cost roughly $1,500 a month in one of his chosen destinations to keep the same standard of living that would cost $2,500 in Richmond.

“To be honest, living in this part of the country in particular, which is very, very expensive, it’s hard to see how we would manage to have at least some kind of reasonable lifestyle,” he said.

Many unknowns remain: for one thing, the couple hasn’t decided whether to make a permanent move or take the more popular snowbird route.

But with several more years of squirrelling away savings ahead, the pair has some time to figure it out.

And in the meantime, Strayton said, they’ll be checking out the top contenders to see which one could eventually become their new home.

ORIGINAL SOURCE: Retirement Canada: Moving Abroad Still Possible For Canadians With Cash Woes

 

Canadians fear retirement savings will run out

014th Jan 2013Business News, Canadians, Home Based Business, Income, Retirement, Savings, Self Employed, Work from home, , , , , ,

Nearly one-third of Canadian retirees are worried that they’ll run out of money over the long term, even though they are generally satisfied with the current quality of retirement, says a new poll by CIBC.

The survey, conducted by Leger Marketing and released on Monday, found that 69 per cent of retired Canadians say the quality of their retirement is what they had hoped for. However, 28 per cent said they are afraid of running out of money over the longer term.

British Columbia retirees were among the most afraid (45 per cent) of running out of money to sustain certain lifestyles, while Atlantic Canadians were among the least likely (21 per cent) to be worried about running out of money.

“While it is positive to see that a majority of retired Canadians are living the retirement they hoped for, our poll findings also show there is concern around whether their retirement savings will sustain them in the years to come,” says Christina Kramer, executive vice president, retail distribution and channel strategy at CIBC.

Kramer added there are some unique factors facing retirees including low interest rates on savings and the need to make their retirement funds last longer than previous generations, which makes long-range planning even more important.

The results also showed that more than half of retired Canadians indicate that a short-term financial shock could cause cash flow problems, with 54 per cent saying they would not be able to handle an unexpected extra payment of $500 a month given their current budget. Of that figure, 34 per cent said it would be very unmanageable and 19 per cent said it would be somewhat unmanageable.

The poll was conducted online and used a sample of 867 pre-retirees and retirees between over a period of four days in late September, according to a CIBC release.

ORIGINAL SOURCE: Canadians fear retirement savings will run out

Retirement Income

An unfortunate reality in today’s world is that many people either in retirement or near retirement are struggling to make up the shortfalls that recent economic challenges and financial crises have created. So searching for a way to supplement your retirement income is completely understandable.

Further, the traditional pensions we all heard our parents or grandparents talk about or enjoy are also pretty much a thing of the past, so what is a person to do.

Some are forced into working part time at menial jobs such as greeters in Wal-Mart or McDonalds, while others pick up part time jobs delivering newspapers or tele-sales in an effort to supplement their retirement income, but for many health issues make it very difficult to take on part time jobs.