VIDEO ON MSN MONEY
1) Pay off your debts as fast as you possibly can. If this means living in a crappy studio apartment and eating ramen everyday for a couple of years, do it. If you want to buy a car, get a reliable beater. Get insurance for $25/month from Insurance Panda. Forget about buying a house until your debts are paid off.
2) Once you are out of debt, stay out of debt. The only exception to this rule is a vehicle and a house. If you want to get a nicer car, buy used and be able to pay it off in a year or 2.
3) If you are going to stay in the same spot for at least 10 years, buy a house, preferably with at least a little bit of usable land. An acre is good, 5 acres is better. Take the amount you are pre-approved for and cut it in half - that's how much you should spend on a house. Come to the table with at least 20% down and make a couple of extra mortgage payments every year. If you're going to be transferred or relocate every 5 years, forget about buying a house and rent instead.
4) Develop multiple revenue streams. Do contract work. Start a business on the side. Invest in a business as a silent partner. Raise chickens, breed dogs or grow apples. Build websites. Buy and sell antiques. Acquire rental property. Sell something that generates residual income. Learn to play the currency markets or trade stocks. Do whatever you can to generate income from multiple sources.
5) Grow these multiple revenue streams to the point that they generate enough consistent and reliable cash flow to replace your current income.
6) Make as much as you can. Save as much as you can. Give away as much as you can.
7) Retire!- the sooner, the better. Be sure you understand that "retirement" doesn't necessarily mean you stop working, it just means having the freedom to do what you want to do, when you want to do it.
Don't be foolish and fall into the trap of trying to measure your wealth by the value of your assets. Markets change. Valuations fluctuate. Instead, measure your wealth by the amount of cash flow your assets consistently generate.
Must be nice to assume that everyone can afford to take advantage of these opportunities...try to, but mortgage, property taxes, food, and fuel take precedence.
Last new car I purchased, just 19 years ago, I did wait until the end of the year...so I guess that was correct.
Do not have a choice with my 401K, company controls the what and who. Participate the max allowed, approximately 15% of my income...so that is done.
529's, have two children a few years from college and our state only allows a max of $5k and you can only name one child as beneficiary. Besides, I would have to take it out of my 401k contributions...so that will not work.
Do not understand where the people that right these articles get the idea that everyone is rolling in dough????
The most common component that leads to any "free" money discussed had to do with ways to avoid paying taxes. Seems to me if we revamped the tax code and let people keep more of their hard earned money everyone would be better off.
is this a joke? im pretty sure this free money came from somewhere most likely the federal reserve...gee i didnt know printing more and more money simply made our troubles vanish....lol well they seem to think tossing money at problems simply fixes things..it doesnt...and this is stupid...how about getting rid of the people that are the cause of this..the feds and the republicans and democrats..they are both running the show for wall street....and you clowns are the grand finale....
Notice how MSNBC and much of the "mainstream media is ignoring or minimizing the story about the stand-off between the ranchers,cowboys and militias at the Bundy Ranch in Nevada?..The government doesn't want too much said about their attempted heavy handedness OR that obamas people backed down from FREE MEN!...What a bunch of government stooges these media organizations are for obama and his leftist thugs....I tell you what ..someone in the justice department needs to take a hard look up harry reids backside with a bright flashlight. He is being exposed as the crooked politician that he is...little beady-eyed weasel. Now it is coming to light that his son is involved with a Chinese company that wants the land that the cattle were grazing on......Hmmmmm...of course there is a fat chance that our( "in the bag with the criminal left")attorney general will even lift an eyebrow. Here is an article from a real news org. Of course you idiots that voted these criminals in won't believe it no matter how true....If it were happening on a republican administrations watch you pricks would scream bloody murder and racism but ignore it when it is one of your socialist heroes.
I detest all of you for putting us here when all the signs were there during this weak, stupid joke of a presidents first term. I can't believe that you would trade liberty and freedom fir gifts from your socialist masters.
In the words of the great Samuel Adams.....Crouch down and lick the hand that feeds you....May your chains set lightly upon you and may posterity forget that ye were our countrymen.
Wouldn't it be great if all the advertisements were framed below the page then the heart of the article could be read without hurky-jerk movements.... ah I know buy a larger monitor. Great thanks for spending my money.
Another wouldn't it be great to read a 10, 20, 30... great things on ONE single web page.... Ah I know couldn't advertise as much.
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