No matter which country you live in, planning for retirement is essential. When you live in the US, that means making plans for your 401k. However, the following guidelines are helpful no matter where you live (with a few adjustments, of course). So, when should you start making contributions to your retirement fund? How much do you need? When you’re young, retirement is conveniently far away. You think…
Going International: 5 Tips for Meeting KYC Requirements
by / ⠀Entrepreneurship• Funding• Personal Finance• Startup Advice• Travel / December 28, 2013Since the implementation of Know Your Customer (KYC) regulations, international business has been forever changed. Governments, banks, and businesses must comply with tightened security measures to combat money laundering, identity theft, and possible terrorist funding. Navigating different nations’ specific requirements can be tricky, but doing so will enable your business to expand. Here are five ways to manage the process: 1. Know Your World For many industries, following…
We all make mistakes in our lifetime. Some are better than others, but eventually we shake our heads, and wonder what the heck we were thinking. Hopefully, you didn’t ruin your financial future, but if you had a divorce fall in your path, likely you have some repairs you need to make. An illness or injury won’t do any better for you, and it can cause some…
The Entrepreneurial Strategy To Overcoming Depression
by / ⠀Career Advice• Entrepreneurship• Health & Fitness• Personal Finance / December 16, 2013It’s no secret that the high-pressure world of business can have some unfortunate effects on our health. Aside from the constant stress that comes with being a successful entrepreneur, there’s the ever-present risk of debt. We’ve all seen it happen – an investment goes awry, your forecasts turn out to be off, or a global recession puts the boot into your business plans. When this happens, it can…
5 Reasons You Should Not Save Your Money
by / ⠀Entrepreneurship• Personal Finance / November 24, 2013Saving money is counterproductive. While it’s true that you need to save some money, as repugnant as the idea may be, saving for an emergency, an unforeseen calamity and to create a nest egg for eventual investment are all valid reasons to save money. Beyond that, saving is an exercise in futility and here are five reasons why. If you save $100 per week in your cookie…
I read an article a while back that did a psychological profiled middle income Americans and wealthy Americans. The goal of the study was to find out the why. Why are some people stuck in the middle class? Why is it that some people are content with mediocrity? The one thing that this study had found is that people with money believed that you do not need money…
6 Financial Habits Young Professionals Should Have
by / ⠀Entrepreneurship• Personal Finance / November 3, 20131) Knowing where your money is going. You’re part of a tech-savvy generation. If you aren’t tracking your spending online yet, you should be. Websites like Mint, You Need a Budget, or Manilla can serve as a starting point for not only tracking your spending, but setting parameters around it as well. Gone are the days of writing things down. Get synced in to receive automatic alerts when…
Why Aren’t Millennial’s Pulling The Trigger on a New Home?
by / ⠀Entrepreneurship• Personal Finance / October 28, 2013I still get the terms confused all the time…young adults are labeled as “Millennial’s”, “Generation Y”, “Boomerang kids” – all to describe Americans currently aged 18-35. Life was much easier for me as I grew up in the “Generation X” era. We only had one label similar to baby boomers. I still don’t know why this group has so many different labels? What I do know is that…
If there’s one thing all humans are bad at, it’s money management. If we were as good at budgeting and investing as we were at gossip, the financial problems of the world would be extremely low. We don’t have that luxury, however. What we do have is a brain. In that brain, we can learn new things, get in good habits, and even teach other people the…
Millennials are generally described as those born between 1982 and 2002. These are people who have grown up with technology. They have information at their fingertips 24 hours a day. No previous generation has had easier access to financial planning tools to help them plan their future. There is a downside to being a part of the Millennial Generation as well. Though much-needed information is available, this…