Monday, October 20, 2008

THE PEOPLES CHOICE

www.thepeopleschoice.info

October 2008 Financial Crisis: What do I do now?


Six Principles For Successful Investing

To some people, investing is a mystery. An unpredictable world of formulas and strange terminology. Others will tell you that it’s simply a matter of luck that depends on a hot tip or picking the right investment at the right time. These perceptions are common, but they are generally wrong. In fact, the principles of long-term investment success are available to anyone.
1. Plan to succeed- If you are going to be a successful investor, you need a plan that takes into consideration your financial goals, your time horizon for achieving each of them and your tolerance for risk. Most investors have more than one goal—and more than one time horizon—which makes it even more important to have a plan.

2. Manage risk through asset allocation- Asset allocation is an effective way to spread risk without giving up the opportunity for a solid return. When your portfolio is divided among different asset classes, market sectors, investment styles and geographical regions, it can reap the rewards when one or more market segments rise. And when a market segment declines, other investments can help cushion the blow. Asset allocation does not guarantee investment success, but it can play a significant role in helping you manage risk.

3. Invest regularly, start now-Discipline yourself to invest regularly by making investing a priority—part of the monthly budget. The earlier you get started, the faster you can build your savings because time—and compounding—are on your side. Consider the example in the chart below. If you invested $200 each month beginning at age 25, and your investment earned 8% annually, you could accumulate $100,000 by age 44. You would have to invest nearly three times as much to achieve the same goal, if you started investing ten years later at age 35.

4. Think long term- Once you have an investment plan, an asset allocation plan and a schedule for regular investing, it’s essential to keep a long-term perspective. Here’s what that means: Give your strategy plenty of time to work. Measure your investment progress over a period of five to seven years. Be prepared for lean years in the markets as well as good years. And when the markets do hit a rough patch, talk to your financial professional before you make any change to your portfolio.

5. Pay attention to taxes- When you profit from your investments, chances are you’ll turn a portion of your dividends and capital gains over to the IRS. But you may be surprised at the impact taxes can have on your investments. They lower your current return, and they also reduce future returns, because the money paid out in taxes never has a chance to compound. You can save on taxes four ways.
• Lower your current tax bill by choosing tax-deductible retirement accounts, such as IRAs. 401 (k)s, and 403 (b)s.
• Get more from your retirement investments through tax-deferred compounding.
• Eliminate income tax on future retirement withdrawals by choosing a Roth IRA.1
• Reduce taxes on current investment income by choosing tax-exempt municipal bond funds.
Your financial advisor can help you find the right combination of funds to maximize your personal financial situation.

6. Work with a financial professional- After your family and your health, few things are more important than your financial well being. That’s why it’s important to work with a knowledgeable financial professional. You can expect a financial professional to help you formulate an investment plan, choose investments and strategies that are appropriate to your personal financial situation and keep your financial goals on track by fine-tuning your asset allocation. A financial professional is someone you can turn to when market trends change, someone you can consult when you need expert advice.

1. In order to contribute to a Roth IRA, you must meet certain eligibility requirements. Tax free withdrawals are available after age 59 1/2 and five years after opening a Roth IRA.

MONEY MIKE

Saturday, October 18, 2008

COOL V - INTERVIEWS THE ULTIMATE HUSTLER "HOTEP"




HOTEP THE ULTIMATE HUSTLER


HOTEP PRESENTS - THE HUSTLERS 10 COMMANDMENTS


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DIDDY AND LIL WAYNE GIVES SECRET TO SUCCESS


101 Music Contracts - Fame, Money & Music Industry Success


9/11 WTC-7 And Financial Collapse Ties ('HE TOOK THE WORDS RIGHT OUT MY MOUTH') WOW!


HOW TO MANAGE YOUR MONEY


Saturday, October 4, 2008

Weighed down by too much Cash? Don't worry I'm here to help

ESPN.com: 2008

Tuesday, July 1, 2008
Updated: July 22, 12:11 PM ET

LIFE OF REILLY
By Rick Reilly

By Rick Reilly

Congrats, newly minted NBA rookie!

Now you've been drafted. Next comes the delicious multimillion-dollar contract. And that's when you must do what most NBA players do: start going through cash like Jack Black through the Keebler factory.

Filing for bankruptcy is a long-standing tradition for NBA players, 60% of whom, according to the Toronto Star, are broke five years after they retire. The other 40% deliver the Toronto Star.

It's not just NBA players who have the fiscal sense of the Taco Bell Chihuahua. All kinds of athletes wind up with nothing but lint in their pockets. And if everyone from Johnny Unitas to Sheryl Swoopes to Lawrence Taylor can do it, so can you! With my How to Go Bankrupt* DVD series, it's a layup to go belly-up!

Ten essentials, just to get you started:

1. Screw up, deny it, then fight by using every lawyer and dime you have. Roger Clemens just sold his Bentley, reportedly to pay legal bills. Marion Jones lawyered herself broke before she finally copped and went to prison. Paging Mr. Bonds, Mr. Barry Bonds.
2. Buy a house the size of Delaware. Evander Holyfield was in danger of losing his 54,000-square-foot pad outside Atlanta, and it's a shame. He had almost visited all 109 rooms!
3. Buy many, many cars. Baseball slugger Jack Clark had 18 cars and owed money on 17 when he went broke. And don't get just boring Porsches and Mercedes. Go for Maybachs. They sell for as much as $375,000—even though they look like Chrysler 300s—and nobody will ever know how to pronounce them, much less fix them.
4. Buy a jet. They burn money like the Pentagon. Do you realize it costs $50,000 just to fix the windshield on one? Scottie Pippen borrowed $4.375 million to buy some wings and spent God knows how much more for insurance, pilots and fuel. Finally, his wallet cried uncle. The courts say he still owes $5 million, including interest. See you in coach, Scottie! (For that matter, why not a yacht? Latrell Sprewell kept his 70-foot Italian-made yacht tied up in storage until the bank repossessed it, in August 2007. He probably sat at home and cried about that—until the bank foreclosed on his house, this past May.)
5. Spend stupid money on other really stupid stuff. In going from $300 million up to $27 million down, Mike Tyson once spent $9,180 in two months to care for his white tiger. That's why Iron Mike's picture is on our logo!
6. Hire an agent who sniffs a lot and/or is constantly checking the scores on his BlackBerry. Those are the kinds of guys who will suck up your dough like a street-sweeper. Ex-Knick Mark Jackson once had a business manager he thought he could trust. Turned out the guy was forging Jackson's signature on checks—an estimated $2.6 million worth—to feed a gambling jones. "And it wasn't like I was a rookie—I was a veteran," Jackson says. The only reason he says he's getting some money back is because he didn't …
7. Sign over power of attorney. What's it mean? Who cares? Just sign! The guy you're signing it over to knows. And while you play Xbox, he'll be buying large portions of Switzerland for himself. Kareem Abdul-Jabbar let an agent named Tom Collins have power of attorney once, and it cost Kareem $9 million before he figured it out.
8. Spend like the checks will never stop. Also known as the Darren McCarty method. Despite earning $2.1 million a year, Red Wing McCarty, who started a rock band called Grinder, went splat by investing in everything but fur socks ($490,000 in unlikely-to-be-repaid loans) and gambling large ($185,000 in casino markers). In other words, a Tuesday for John Daly.
9. Just ball. Don't write your own checks. Don't drive your own car. Don't raise your own kids. Just be a tall slab of skilled meat for others to feast on. Not to worry. It'll be over before you know it.
10. Most of all, set up a huge support system around you. It'll be years before you'll realize they call it a support system because you're the only one supporting it. They're all on full-ride scholarships at the University of You. "Guys go broke because they surround themselves with people who help them go broke," says ex-NBA center Danny Schayes, who now runs No Limits Investing in Phoenix. "I know all-time NBA, top-50 guys who sold their trophies to recover."

See, kid? You can be a top-50 guy!

So order my How to Go Bankrupt series now, and get this empty refrigerator box to sleep in, absolutely free!
*(Only $1,449 plus shipping, handling, service fee, dealer prep and undercoating. Per month.)