Yazir

Let’s face it. Most of the financial advice out there says something like this, “If you make on average $60,000 per year…” Most of the advice is designed for baby boomers about to retire. The young generation 35 years-old and under are not going to relate when their incomes range from $25,000 to $40,000. True their income may rise someday but there is a good chance it could decrease with the onslaught of lay-offs, downsizing and cost cutting. The wages their parents earned who worked at companies like GM making a combined income of benefits and wages in the $65 per hour range are not likely to be around in the future. Many of these companies have two-tier wage systems that hire new workers somewhere around $24 per hour (benefits and wages combined). Not only are low wages going to be a problem but also lack of employment opportunities, high interest mortgages, expensive college education, lack of social security income and major cut backs in all federal spending. So what strategies should a young person making his/her way in a “tough times” economy to do?

The biggest advantage young people have is their age. Compound interest is a very powerful force that is likely to make or break a retiree. By putting away only $200 per month from the age of 30 and compounding it at 9% interest a young person could have around $500,000 by the time they are 67 years-old. Double that amount and you could be well over a million dollars. With a 401K offered by your employer it becomes very easy to save because it is pretax dollars that you don’t have to think about.

You may also choose to put your money into a Roth IRA. Generally, the money is taxed before it is put away and then you don’t have to pay taxes on it in retirement. Not a bad deal when it has compounded for 30 years. The best retirement utilizes a combination of the two. It is beneficial to put away money automatically in your 401K and set a goal of putting away $100 or $200 per month into a Roth IRA.

One may also consider reducing the cost of big expenditures and saving big money. The housing market is beginning to cool as baby boomers are leaving the market with their large incomes. It won’t be long before appreciation on houses has returned to a mediocre percent such as 3%-5%. As a young person trying to show his or her financial stuff they may want to buy the nicest houses they can get. Unfortunately that nice house also comes with a large mortgage payment. A good rule to follow is that your housing cost should not be over 25% of your household income. For example, If my wife and I make 70,000 (two young professionals at $35,000/year) than we could have a house that costs $1,400 per month. Because we are financial savvy, with a lot of energy, we bought an older house with an $800 per month mortgage payment, put our sweat equity in it, and watched its value increase 20%. Because we were under our $1,400 limit we also bought 10 acres for a nice cottage at $300 per
month. Now we are increasing our long-term assets at a cost of $1,100 per month. What happens to the savings? Well they go into our retirement account.

Of course one of the best ways of saving money is diverting your expenses into investments. Basically, “You don’t buy what you don’t need!” Go to discount grocery stores, take cheap vacations within driving distance, buy good quality clothes at discount prices, and stick to a solid budget. It is much easier to save money than it is to make more. Keep in mind that even though you don’t look as wealthy as your friends you are probably much wealthier financially. Trust me; no one gets out of college making a hundred thousand dollars a year. Therefore, don’t try and make your self look like it.

Murad Ali is a two-time published author of “A call to greatness” and “An American Mecca that deals with the economic and political reform. He is the author of The Muslim Times, runs a consulting business, is a doctoral student and a farm owner. For more articles written by Murad visit www.muradenterprises.org

Do you ever wonder why people hate? It does not make a lot of sense does it? Do you hate? What do you hate? What triggers this emotion of hate? Have you ever watched those on the freeway who spend more time directing their middle finger than driving their own cars? What is the deal; why do they do that and what purpose does it serve? If we are all in the traffic together, using your finger is not going to get you down the road any faster, increase your gas mileage or help with your positive outlook once you reach your destination? Why do humans hate and what makes them carry on this way? It seems rather silly doesn’t it? If you hate, why do you hate? Why to you allow this hate to rule your emotions, are you unable to get past the hater in you?

Chances are if you send out a lot of hate you will get some flying back at you. So as you turn to hate others you will find some have pointed their hate right back at you. Have you ever noticed when someone flips you off on the freeway your immediate reaction is to flip them off back in a more elaborate fashion? I mean you know get on the horn, stick out your tongue and open the sunroof so you can get that middle finger as high as it can go, piercing the sky? Why do you allow other morons in the world to get the best of you like that? You hateful, spiteful, wonderful, smiling person; you? Think on this.

“Lance Winslow” – Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/wttbbs/

Extremely cautious minutes publicized through the Bank of England very recently led straight to the surprising new English Stirling improvement people have witnessed being stopped. The rather surprising evaluation from the UK Central Bank was unanimous for interest rates to stay put on hold and to preserve the up to date point of quantitative lessening. Even so, the notable members of the Monetary Policy Committee also known as the MPC, alleged British Stirling’s fresh improvement was certainly not definitely the ‘green shoot of recovery’ abounding people are predicting and also could possibly in genuineness damage business and thus encumber the British economies revitalization. Current exchange rates may not be the most favourable – depending on which currency you are buying.

The above unforeseen remarks saw the United Kingdom pound fall down one US cent against both the American Dollar and the European Single Currency and also just over a US cent and a 1/2 against the Swiss Franc.

On this day UK high street retail sales figures as well as publically available financial data might well offer continued indications as to the health of the British economy as well as could possibly trigger prolonged instability in the money markets. So, make absolutely certain you are in frequent and close contact with your currency account administrator so they will keep you informed with regard to market actions.

News released very recently through the Office of National Statistics or the ONS for short, verified that joblessness in the UK had increased significantly to more that two point two million the peak amount ever since November two thousand and six Despite the surprising rise the number was certainly not as weak as some people had anticipated on the other hand, with the joblessness level lingering just over 0.07 it was seen as unconstructive for the United Kingdom pound. This reality, on top of the careful remarks from the Monetary Policy Committee just served to swell British Stirling’s plight. David Kern, the chief economist at the British Chambers of Commerce, stated: “These jobless figures are slightly better than feared, but the overall situation remains grim… It is much too early to talk about the end of recession”

The worry at this instant is that the above figures may worsen as school and also uni graduates enter the careers arena at the most unpleasant conceivable moment which is possibly going to plonk even more demands on UK Sterling. For that reason, if you scheduled an upcoming currency transfer natter to a devoted foreign money broker who might often be able to describe all the alternatives open to you including fixing your exchange rates for a pre-determined period of time in the future for merely a tiny deposit on a forward contract just right to help you budget.

I have found that the best way to get someone to respond positively to you is to LIKE them!

Seriously! It is so easy!!! Plus, it works.

I’ve recently started a new position as a professional headhunter. I’ve always done professional networking and marketing for individuals but now have joined a new firm. Most of what I’m doing now is COLD CALLING. UGH..the dreaded COLD CALL.

What does it consist of? Hi! My name is Mary Gardner and I’m with XYZ company, … who is the Director of Operations? From there I ask questions and gather information until I get the right person on the phone that might have a serious interest in my candidate that I’m marketing.

The difference that I’ve seen in my first few days is that the first day I was TERRIFIED to call. I didn’t feel ready. I felt unprepared. I wasn’t clear of the procedures and I didn’t even feel comfortable with the phone. Here is what happened: the first few calls.. people almost hung up on me. They didn’t have the tolerance for a person with no confidence.

Today, I relaxed. I committed to myself that I was going to have FUN and to make the people enjoy our encounter. I’d do that by showing them favor over the phone and acting excited to talk with them, even though I had no idea of who they were and what they did. And guess what? It worked! I spoke with numerous “gatekeepers” as we call them, or administrative people who shared all of the information that I wanted about the company. I used their NAME in the conversation! I asked how they were doing and didn’t ignore them. I asked about the weather when they were in south Florida and laughed with them when they forgot whether it was morning or afternoon in their greeting. I truly just enjoyed all of the people I met.. and guess what?

They liked me back!!! I expressed enthusiasm when speaking WITH them and TO them, and they responded in kind. It was so much more fun to speak with them when I stopped thinking OF MYSELF and my nerves, and started thinking about THEM!!!

Of course I did all of the standard things you do in small talk! I asked them questions and I listened to them intently. I asked about them, or their company or the weather or if they were having a good day, but I showed interest in THEM and their lives. That was the total key today to enjoying new people and getting them to feel comfortable with me.

I liked them.

How about you? Are you expressing interest and curiosity in others? Are you excited to speak with them? Do you show interest in their response? Do you laugh at their jokes? Do you sincerely want to show that person that they are OK in your book?

You might find what I found. A day of potential stress can turn into a day full of fun.

Mary Gardner is an executive communications coach and consultant and can be reached at www.marygardner.com or email: mary@marygardner.com