Personal Finance Wellness.

You won't be free until you are financially free!

Archives November 2020

Retire early

You Can Retire Early When You Want It!

The idea of early retirement may excite you, but to achieve such a dream, you need careful financial planning and some practical monetary skills. In this article, we are going to introduce you to practical monetary skills that will put you on the path to retirement and financial independence. Stay with us…

  • Have a written plan:

Having a plan alone is not the best way to plan an early retirement; but believe it or not, you can’t expect to get to the right destination by taking an unplanned route because planning is the key to your success. You need to remember that financial success is a choice.

Take the time to write down your financial goals so that they can be achieved over time. The goal is to define each aspect of your financial goals and work towards achieving them.

Do You Care About Managing Your Financial Resources?

We work long hours in life, but when it comes to management, we will be relatively weak and this is because we do not have good financial literacy. So the main priority is to invest enough time and resources to study finance. Having a financial education does not mean getting a degree, but it means knowing the basic principles of money.

This post contains affiliate links. Please please read my Disclaimer for more information.

  • Lifestyle-based income:

If you want to achieve financial success in the long run, you have to sacrifice laziness and comfort today for tomorrow. Spending money never makes anyone rich. Rather, planning for financial goals and having a purposeful life will make you a rich person. Choose your expenses carefully so that you can meet the needs of your life, but limit your needs so as not to pay too much.

  • Get started right away:

Considering the interest paid at the present age can have a significant impact on the amount of your investment. Start saving money as soon as possible so that you can achieve great financial success and prepare for early retirement.

Do not expect to become a financial genius quickly. Start saving money as much as you can. Do not expect significant growth in the beginning, but after a while, you will see that everything gets better.

  • Create wealth automatically:

Probably no one expects to be able to manage all their tasks daily, do you think you can do that? Definitely, your answer is no. You can only spend part of your resources on your retirement goals.

This is where the auto mode should be enabled. In this regard, you need to make specific financial decisions that not only increase the total number of assets you have but also add value over time; So that your life develops by the process you want.

Make It Harder To Access Your Money!

Put your money in accounts or places that are difficult for you to access and you have to go through many steps to access it.

For example, when your money is saved in some retirement plans or investment plans before you can get that money; you have to go through some steps that may discourage you. Therefore, define your financial plans in such a way that it will be extremely difficult for you to access your cash. This will make it easier for you to resist the temptation to spend.

Have Investment Insurance!

There are many different tools available today to have a portfolio of safe investments that can reduce the risk of your assets to zero. Using life insurance and investment services is one of the best ways to guarantee the future, so try not to neglect it.

Choosing a cash value life insurance as an investment strategy for early retirement might be a good idea for anyone who wants to diversify their retirement income. I think it is advisable to sit down with your financial adviser first before making this option. I say this because if it is not designed correctly, it will not provide the income needed during retirement.

  • Focus on saving:

While this may be a very basic and obvious skill, it is very difficult to practice. The safest way to achieve this goal is to set your average cost list for each month. Eventually, you will reduce your unnecessary expenses after a while.

Check to see whether your phone company offers a flat rate or a measured service plan that can save you money based on how often you call or on the times and days you usually use the phone. Put off making long-distance calls until evenings and weekends, when rates are usually lower. And you can use free internet long-distance call alternatives like WhatsApp.

If you make a lot of long-distance calls, check around for calling plans that suit the number of calls you make. And if possible, use coupons and discount cards when shopping for groceries.

Develop Passive Sources Of Income!

There is always a good idea to create different sources of income, so it is better that you exploit them so that others do not discover these sources of income.

  • Plan your risks:

As mentioned, the higher the risk, the higher the return. Remember that saving money will be a big goal for you when you are planning an early retirement. So first, before investing in any financial field, evaluate your risk.

  • Adjust your tax plans:

While you are struggling with your income, expenses, and savings, one of the factors that are completely out of your reach but must be considered is the issue of taxes. Tax planning will also be related to the post-retirement period, so you need to be very careful about your taxable investments.

  • Stay healthy:

You may be wondering how health can occupy the focal point of monetary skills discussions. However, to receive early retirement benefits, you must first be healthy.

  • Loan plan:

If you need a loan to do something, try to get it with a detailed plan and get a loan that you can afford to pay in installments.

  • Off-season holidays:

If you are one of those people who love to travel, you can not only see more natural attractions during the winter holidays but also save on your expenses. Not only are plane tickets cheaper this season, but hotels are also cheaper, and if you are looking for a short stay, try to do it on weekdays and not on weekends. These savings will become significant over a period of time.

  • Apply 5% rule :

This is not an explicit rule, but it is extremely practical and very effective. If I were to explain this rule to you in simple language, it would mean reducing the costs of your three major categories of annual expenses by 5%.

  • Track progress:

Follow the progress and never be satisfied. Put progress in saving, progress in investment, and progress in approaching goals in your life.

Keep Your Why In Front Of You.

Any setbacks you experience can be overcome financially with the help of a good plan and psychologically by remembering your why. When you first decided that you wanted to retire early, you had a vision that helped you create a strategy and gave you the drive to achieve that plan. Returning to that vision and the why behind it will motivate you to persevere through any setbacks that occur.


Planning for early retirement is not difficult but financial planning (long term); Discipline is needed to save and invest wisely. The path to early retirement is rooted in the math behind it and the development of good habits and the right mindset. So it’s better to start now. Anyone can retire early if they plan ahead of time and be discipline to do all what is required to help them achieve their goals.

“If you have any feedback about you can retire early when you want it, that you have tried out or any questions about the ones that I have recommended, please leave your comments below!”


NB: The purpose of this website is to provide a general understanding of personal finance, basic financial concepts, and information. It’s not intended to advise on tax, insurance, investment, or any product and service. Since each of us has our own unique situation, you should have all the appropriate information to understand and make the right decision to fit with your needs and your financial goals. I hope that you will succeed in building your financial future.

Understanding finance

What Is The Importance Of Financial Planning?

When it comes to money, the importance of financial planning becomes clear because many factors can affect your plans. Financial planning helps you set short-term or long-term financial goals, and in doing so creates a balanced plan for you to achieve your goals. In this article, we are going to introduce some of the important reasons why financial planning is important and give a brief explanation of each of them. Please stay with us until the end of the article…

How Do I Plan My Life Financially?

Some people spend more than the income and the amount of money they save and become more indebted every day. It is very easy to fall into the trap of such a habit and getting out of it requires a little planning and discipline. The first step is to create a budget.

Although it may seem awkward, to define a specific budget, you need to look at your income and expenses to see how much money you are making and how much you are spending. Once you have a clear understanding of your current budget, the next challenge is to find points where you can spend less or make more money to achieve your financial goals. Here are some tips to help you achieve this goal:

This post contains affiliate links. Please please read my Disclaimer for more information.

  • Find out your needs and wants:

What do you want? What do you really need? Assess your current financial situation. Look at the bigger picture, make two lists: one is your list of needs and one is the list of your desires.

  • Create a strategy:

We all have budgets according to our needs and wants. But we need to know what percentage of revenue should be allocated to different expenses. You can create a table according to your needs.

  • Check, reduce, and hit the target:

When you start researching, you may be surprised to find that you have a lot of side costs. You can easily reduce many of these costs. Reducing is usually a better strategy than cutting. You have to be realistic. This will make you more prepared for unpredictable costs.

Reasons For The Importance Of Financial planning:

There are many reasons why you need financial planning. The following ten can be part of these reasons:

  • Family security
  • Cash flow
  • Financial understanding
  • Identify financial errors
  • Increase risk management power
  • Return on investment
  • Measuring and improving asset allocation
  • The vision of the future
  • emergency
  • Planning for retirement

In the following, we will explain each of the above.

  • Family security:

The most important part of every person’s life is his family and their financial security will be the top life priorities, this issue can be an important part of your financial planning. Having the right insurance coverage can bring peace of mind to you and your loved ones. Financial planning requires that you consider the best plans for your family’s future.

  • Cash flow:

Financial planning helps you to have complete control over your cash flow through cost patterns and their nature. For financial planning, you need to consider things like careful budgeting and prudent spending. In this case, it helps you to control your cash flow.

  • Financial understanding:

In general, financial literacy is having sufficient knowledge and understanding of financial concepts and methods available, as well as using this knowledge to solve existing financial problems.

With enough financial literacy, you can easily think about your personal finances and before making a decision, consider all the available options and finally choose the best one.

When your goals are measurable, the financial effects on your life can be identified and their results examined. Your financial plans can bring a new perspective to your budget, so you can take control of your life.

  • Identify financial errors:

Financial planning can prevent financial mistakes in general. This process will include what you can do or what you need to do to solve the existing problems.

  • Increase risk management power:

If you have good financial planning, you can determine the insurance coverage you need with more confidence. So you will not have to pay too much for unnecessary insurance. In this case, your risk power for future goals and investing in them will be greater.

  • Return on investment:

With the help of financial planning, you will be able to design your integrated investment plan. In this case, you can help your goals, risk settings, and available liquidity and use it in all your work.

  • Measuring and improving asset allocation:

Asset allocation can be an important element in money management. An individual needs to find a balance between risk management, returns, and the right combination of assets. Financial planning helps you make informed decisions about your goal setting. In addition to financial planning, it also needs to be adjusted and reviewed over a period of time. This can help you achieve your goals.

  • Future Vision:

Financial planning will help you plan and act accordingly for the next 10-20 years. With the help of these programs you can easily enjoy the benefits of retirement; you will also be able to help your financial plans in case of an emergency.

  • Emergency:

Special and emergencies in life will be inevitable. So when an unexpected situation arises in your life, you can make sure that you do not stray from your financial goals.

  • Retirement planning:

While achieving your future goals can be a general vision for a comfortable life, you can also plan for your retirement. If you are planning to retire early, you need to plan as soon as possible, as this will be better for the long term.

Having a retirement financial advisor will help you to be prepared for the right expenses for your retirement. However, the advice is always to have the initial investment to achieve your life goals.


Financial planning is very important in life and work. It takes planning to get started. Planning helps us to achieve the goals we have in life.

The first thing we can achieve with planning is goals. Financial goals, which include earning money or expanding business, as well as the goals we have in our personal lives, also require financial planning.

It is good to always have a financial plan in advance for the expenses we pay in our personal life. There are different types of costs, some costs are fixed and some are variable. Good planning helps us to have better financial management. In this planning, there must be proper budgeting for every expense we have in life. In this article, we have reviewed some of the reasons why financial planning is important to you. We hope you find the article useful.

“If you have any feedback about what is the importance of financial planning? that you have tried out or any questions about the ones that I have recommended, please leave your comments below!”


NB: The purpose of this website is to provide a general understanding of personal finance, basic financial concepts, and information. It’s not intended to advise on tax, insurance, investment, or any product and service. Since each of us has our own unique situation, you should have all the appropriate information to understand and make the right decision to fit with your needs and your financial goals. I hope that you will succeed in building your financial future.

Saving at 30

How To Save For Retirement At 30.

When you are in your twenties or thirties, retirement seems to be such a distant goal that it does not seem real at all. In fact, this is one of the most common excuses people used to justify not saving for retirement. If you have such an excuse, do not miss the following article.

Anyone close to retirement age will tell you that many years have passed and it will be much more difficult to save considerable money if you do not start sooner. You will probably receive other expenses that you may not already have, such as loans and child support expenses.

You may not make much money starting a business, but you have one more thing than the rich people: time. Over time, saving for retirement becomes much more enjoyable and exciting.

You will probably pay off your student loans, but even a small amount of retirement savings can make a big difference in your future. In this article, we will find out why your 30s are a good time to start saving for the years to come.

This post contains affiliate links. Please please read my Disclaimer for more information.

Know Your Goals:

The sooner you start saving for your retirement, the better for you in the future. But you may not be able to do it yourself. You can get help from a financial advisor, especially if you do not have the knowledge to move on in the retirement planning process.

Make sure you set realistic expectations and goals and make sure you have all the information you need when meeting with your consultant. Here are some things to look for when selecting yours.

  • Your current age
  • The age at which you intend to retire
  • All your sources of income, including your current and projected income
  • Your current and projected costs
  • How much can you set aside for your retirement?
  • How and where do you plan to live after retirement?
  • Any savings account you have or plan to have
  • Your and your family’s health history to determine future health coverage

Composite interest

“Composite interest” is an important reason to start a retirement plan. Composite interest is a process in which an amount of money grows exponentially over time as interest rates increase and decrease. If you invest money in a stock exchange fund or other funds with higher returns, you will have even more significant savings.

Low Savings But Sooner Versus Higher Savings In The Future.

You may think you have plenty of time to start saving for retirement. After all, you are in your 30s and you have your whole life ahead of you, right? That may be true, but why postpone saving until tomorrow when you can start today?

Remember that the longer you wait to plan and save for retirement, the more investment you will need each month. While it may be easier to enjoy your full 30s; But as you get older, you have to invest more money every month. If you wait too long, you may even have to postpone your retirement.

What Should We Consider When Investing.

The types of assets in which your savings are invested will have a significant impact on your return on investment and, consequently, on the amount available to secure your retirement credit. As a result, one of the main goals of investment inventory managers is to create inventory designed to provide an opportunity to experience the highest possible returns. Amounts you save for short-term purposes are usually kept in cash; because the main goal is usually to maintain a high level of liquidity. The money you save to achieve long-term goals, including retirement, is usually invested in assets that provide an opportunity for growth and development.

If you want to manage your investments yourself, it is important to understand that there are other factors to consider. Here are just a few things to keep in mind:

  • Market risk:

Investments that provide the opportunity for the highest rate of return are usually the highest risk capital, such as stocks. The items with the lowest rate of return are usually the ones with the lowest risk in the market.

  • Risk-taking:

In general, the degree to which one is at risk is determined by one’s level of experience and knowledge of the investment. Likewise, it is in your best interest to at least learn about the different investment options, market risks, and historical performance.

Understanding how investing works will allow you to have reasonable expectations for your return on investment, and if you do not achieve the expected return on investment, it can help reduce the stress created.

  • Retirement horizon:

Your targeted retirement age is usually taken into account. This age is usually used to determine the duration of the re-use of market losses. Since you are in your 30s, it is assumed that investing a large percentage of your savings in similar stocks and assets is appropriate, as your investments will probably take time to heal any market losses.

Ordinary Individual Retirement Account Or Roth IRA.

How you invest in your retirement also has important implications for your taxes.

If you invest in a traditional individual pension account (IRA), you can deduct up to $5,500 in taxes for that tax year. It will increase without tax until you harvest it.

On the other hand, you can invest in a Roth IRA. You open this account with post-tax revenue; so you do not receive a tax deduction (up to the same $5500 per year). But, when you are ready to withdraw money, you have no tax on it, and this includes all the money that has been taxed during those years. Besides, you can borrow from its taxes if needed.

Invest In A Savings Account:

A savings account from your local bank may not have a high-interest rate for you, but you can withdraw or deposit any amount of money at any time. Each bank has its own rules; this means that some may require a minimum level or limit the number of withdrawals before opening. But unlike registered retirement accounts, there are no tax consequences on maintaining a savings account.

Another advantage is having a convenience savings account. You can use a savings account for everything you need, whether for short-term or long-term needs.


The sooner you start saving for your retirement, the better. When you start early, you can spend less money each month. The most important thing about saving is getting started. Compound interest benefits those who invest more in longer periods. There is a thoughtful phrase that “time is money”, especially when it comes to retirement.

“If you have any feedback about how to save for retirement at 30? that you have tried out or any questions about the ones that I have recommended, please leave your comments below!”

NB: The purpose of this website is to provide a general understanding of personal finance, basic financial concepts, and information. It’s not intended to advise on tax, insurance, investment, or any product and service. Since each of us has our own unique situation, you should have all the appropriate information to understand and make the right decision to fit with your needs and your financial goals. I hope that you will succeed in building your financial future.


Saving without 401k

Best Way To Save For Retirement Without 401k

Investing is daunting for some people, but it is one of the most important parts of generating wealth for retirement and achieving many financial goals in life. Risk is always an integral part of investing, but determining your level of risk can help you plan better in the future. To find the best ways to invest, choose a model, and set the goals you want to strive for. In this article, we look at a variety of ways to save money for retirement without a 401k. Stay with us…

How Can Investing Increase Your Wealth?

When is the right time to invest? Right now!

If you have not started yet, you have lost thousands of dollars that you could have earned over a period of time.

Using a bank rate calculator, consider a person who has invested 3% of their $50,000 annual income in 401(k) from the age of 25.

Assuming an average interest rate of 7%, a full-time employee is up to 3% and an average pay increase of 3.1% per year, that person can retire at age 65 with $1 million.

The more you try the less profit you make, which means fewer earnings over time. If the same person waited just another 5 years and started investing at the age of 30, his total savings at the age of 65 would drop to $600,000.

There is always the risk of losing, but it makes the potential to make an investment a smart choice even for cautious customers. If you are ready to start this year, start by thinking about your goals and the power of risk-taking.

This post contains affiliate links. Please please read my Disclaimer for more information.

Investment Time:

The most common reason people invest is to save for retirement, but everyone has a different goal. You can even pursue multiple goals with multiple investment accounts. You can either invest in a retirement account or save for the initial money to buy your children’s home or university. Setting your own goals can help you decide how to allocate your assets over time.

  • Long time:

If you want to invest in a long-term goal such as retirement, you can consider more risk with heavy stock samples.

  • Medium:

For those who are considering investing in retirement or investing for a decade, a varied, low-risk job can guarantee a payback. The combined investment of assets through a joint venture or a mutual fund can help you get the best return with a level of risk that will not be too difficult for you.

  • Short term:

If you have a short-term investment goal, such as saving money to buy a home or a long-term vacation after a few years, you need to be more careful about your strategy. Safer short-term investment strategies often include cash market accounts and CDs. While they do not have the same payback as joint ventures, they are a great way to raise money while having complete security.

Determine Your Risk-Taking Power:

Knowing your investment horizons will also help you measure your strengths in this endeavor. People who focus on short-term goals are less likely to take risks. To reduce your risk, and as the best practice, do not put all your chances in one basket.

If your portfolio is heavy stock, cover several different companies and industries. In this way, the recession of one sector does not do you much harm. The joint venture is a simple way to diversify.

You can also reduce your risk with different types of this work. Having a healthy mix of stocks and bonds and resetting each of them or rebalancing them as you approach your retirement or target date can keep your investment safe.

Where To Invest Your Money?

For most people, the easiest way to start investing is through a retirement account. There are many retirement options depending on how you are hired and how much you invest. You should also consider the cost of your retirement account and the type of fund or asset each.

  • Traditional IRA:

Just like 401(k), your contribution to the traditional IRA goes to a tax-free account and the tax is deducted from its profit. If you are already in an employer retirement plan, you can contribute up to $6,000 to a traditional IRA. If you are 50 years old or older, you can assign $7,000.

  • Roth IRA:

Unlike the traditional 401(k) or IRA, allocating your money to a Roth IRA is pre-tax, meaning it grows tax-free and does not pay until it is taxed. Like a traditional IRA, you can have a Roth IRA alongside an employer-sponsored program, up to $6,000 or up to $7,000 if eligible.

Donation restrictions are combination restrictions that apply to both IRA models, which means you can’t have the maximum amount for both. A bank rate guide can help you decide which model of IRA is best for you.

After maximizing your retirement account, or if you are looking for a short-term option, a deposit account is another good way to invest. While you can actively manage your fund, a flagship fund can provide you with low-cost repayments. Look for different accounts with the right management style and performance for you.

  • Mutual investment:

Joint venture is a managed instance that allocates individuals’ assets to various combinations of investments, including stocks, bonds, and so on. They will vary based on risk, performance, costs and investment strategies. Joint ventures are often a well-known tool for retirement accounts.

  • ETF:

Like a joint venture, ETFs allow you to invest in a range of stocks and bonds of different companies and sectors. ETFs are as easy to trade like individual stocks, but they offer a variety of joint ventures for the individual. ETFs are more tax-efficient than joint ventures and often come with lower minimums and lower costs, which is a great option for novice investors.

  • Money Market Fund:

Money market funds are a type of joint venture that consists of low-risk investments such as CDs and short-term bonds. Money market funds are considered a safe investment and their liquidity makes them a very good option for short-term investments of 5 years or less.


Anyone looking to invest should start by preparing for a tax-deductible retirement account. Personal accounts can also be a great way for new investors to increase their wealth with the help of an online consultant or broker.

Stocks and bonds are not the only ways to invest; you can invest in personal stocks, real estate, personal loans, or even gold.

Whichever combination you choose your chances of success increase by diversifying your profile and capitalizing on your investment with the power of risk and your time horizons.

“If you have any feedback about the best way to save for retirement without a 401k that you have tried out or any questions about the ones that I have recommended, please leave your comments below!”


NB: The purpose of this website is to provide a general understanding of personal finance, basic financial concepts, and information. It’s not intended to advise on tax, insurance, investment, or any product and service. Since each of us has our own unique situation, you should have all the appropriate information to understand and make the right decision to fit with your needs and your financial goals. I hope that you will succeed in building your financial future.