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newstfionline · 4 years
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Sunday, March 21, 2021
Happiness Report: World shows resilience in face of COVID-19 (AP) The coronavirus brought a year of fear and anxiety, loneliness and lockdown, and illness and death, but an annual report on happiness around the world released Friday suggests the pandemic has not crushed people’s spirits. The editors of the 2021 World Happiness Report found that while emotions changed as the pandemic set in, longer-term satisfaction with life was less affected. “What we have found is that when people take the long view, they’ve shown a lot of resilience in this past year,” Columbia University economist Jeffrey Sachs, one of the report’s co-author, said from New York.
The Pandemic Stalls Growth in the Global Middle Class, Pushes Poverty Up Sharply (Pew Research Center) The COVID-19 pandemic is having a deep effect on the global economy. In January 2020, as reports of the novel coronavirus were emerging, the World Bank forecasted that the global economy would expand by 2.5% that year. In January 2021, with the pandemic still holding much of the world in its grip, the World Bank estimated that the global economy contracted by 4.3% in 2020, a turnabout of 6.8 percentage points. The economic downturn is likely to have diminished living standards around the world, pushing millions out of the global middle class and swelling the ranks of the poor. A new Pew Research Center analysis finds that the global middle class encompassed 54 million fewer people in 2020 than the number projected prior to the onset of the pandemic. Meanwhile, the number of poor is estimated to have been 131 million higher because of the recession.
Fallout from riot, virus leaves toxic mood on Capitol Hill (AP) The mood is so bad at the U.S. Capitol that a Democratic congressman recently let an elevator pass him by rather than ride with Republican colleagues who voted against certifying Joe Biden’s election. Republicans say it’s Democrats who just need to get over it—move on from the deadly Jan. 6 attack on the Capitol, end the COVID-19 restrictions and make an effort to reach across the aisle toward bipartisanship. Not yet 100 days into the new Congress, the legislative branch has become an increasingly toxic and unsettled place, with lawmakers frustrated by the work-from-home limits imposed by the virus and suspicious of each other after the horrific riot over Trump’s presidency. Particularly in the House, which remains partly shuttered by the pandemic and where lawmakers heard gunshots ring out during the siege, trust is low, settled facts about the Jan. 6 riot are apparently up for debate and wary, exhausted lawmakers are unsure how or when the “People’s House” will return to normal.
US schools prepare summer of learning to help kids catch up (AP) After a dreary year spent largely at home in front of the computer, many U.S. children could be looking at summer school—and that’s just what many parents want. Although the last place most kids want to spend summer is in a classroom, experts say that after a year of interrupted study, it’s crucial to do at least some sort of learning over the break, even if it’s not in school and is incorporated into traditional camp offerings. Several governors, including in California, Kansas and Virginia, are pushing for more summer learning. And some states are considering extending their 2021-22 academic year or starting the fall semester early. Many cities, meanwhile, are talking about beefing up their summer school programs, including Los Angeles, Hartford, Connecticut and Atlanta—the latter of which considered making summer school compulsory before settling for strongly recommending that kids who are struggling take part.
Forecast for spring: Nasty drought worsens for much of US (AP) With nearly two-thirds of the United States abnormally dry or worse, the government’s spring forecast offers little hope for relief, especially in the West where a devastating megadrought has taken root and worsened. Weather service and agriculture officials warned of possible water use cutbacks in California and the Southwest, increased wildfires, low levels in key reservoirs such as Lake Mead and Lake Powell and damage to wheat crops. The National Oceanic and Atmospheric Administration’s official spring outlook Thursday sees an expanding drought with a drier than normal April, May and June for a large swath of the country from Louisiana to Oregon. including some areas hardest hit by the most severe drought. And nearly all of the continental United States is looking at warmer than normal spring, except for tiny parts of the Pacific Northwest and southeast Alaska, which makes drought worse.
‘Tough’ U.S.-China talks signal rocky start to relations under Biden (Reuters) U.S. and Chinese officials concluded on Friday what Washington called “tough and direct” talks in Alaska, which laid bare the depth of tensions between the world’s two largest economies at the outset of the Biden administration. The two days of meetings, the first high-level in-person talks since President Joe Biden took office, wrapped up after a rare and fiery kickoff on Thursday when the two sides publicly skewered each others’ policies in front of TV cameras. The talks appeared to yield no diplomatic breakthroughs—as expected—but the bitter rivalry on display suggested the two countries had little common ground to reset relations that have sunk to the lowest level in decades. The run-up to the discussions in Anchorage, which followed visits by U.S. officials to allies Japan and South Korea, was marked by a flurry of moves by Washington that showed it was taking a firm stance, as well as by blunt talk from Beijing warning the United States to discard illusions that it would compromise.
Volcano Erupts In Southwestern Iceland After Thousands Of Earthquakes (NPR) A volcano on the Reykjanes Peninsula in southwest Iceland erupted Friday evening, producing a river of lava that could be seen from the capital, Reykjavik, 20 miles away. The eruption took place about three miles inland from the coast and poses little threat to residents. They were advised to stay indoors with windows closed against any gases that are released. This is the first eruption in the Reykjanes Peninsula in nearly 800 years, the Associated Press reported. Thousands of earthquakes took place in the weeks leading up to the eruption, the meteorological office reported. Earlier this week, swarms of earthquakes rattled the peninsula, with over 3,000 quakes on Sunday alone. Scientists attributed the earthquakes to magma intrusions, molten rock movement about a kilometer below the earth’s crust.
A New Year in Iran, but the country’s crises remain the same (AP) The Persian New Year, Nowruz, begins on the first day of spring and celebrates all things new. But as families across Iran hurried to greet the fresh start—eating copious crisp herbs, scrubbing their homes and buying new clothes—it was clear just how little the country had changed. A year into the coronavirus pandemic that has devastated Iran, killing over 61,500 people—the highest death toll in the Middle East—the nation is far from out of the woods. And although Iranians had welcomed the election of President Joe Biden with a profound sigh of relief after the Trump administration’s economic pressure campaign, the sanctions that have throttled the country for three years remain in place. “I was counting down the seconds to see the end of this year,” said Hashem Sanjar, a 33-year-old food delivery worker with a bachelor’s degree in accounting. “But I worry about next year.”
2 journalists detained as Myanmar junta clamps down on press (AP) Two more journalists were detained in Myanmar on Friday, part of the junta’s intensifying efforts to choke off information about resistance to last month’s coup. Mizzima News reported that one of its former reporters, Than Htike Aung, and Aung Thura, a journalist from the BBC’s Burmese-language service, were detained by men who appeared to be plainclothes security agents outside a court in the capital of Naypyitaw. The journalists were covering legal proceedings against Win Htein, a detained senior official from the National League for Democracy, the party that ran the country before the takeover. The coup reversed years of slow progress toward democracy after five decades of military rule. In the face of persistent strikes and protests against the takeover, the junta has responded with an increasingly violent crackdown and efforts to severely limit the information reaching the outside world. Security forces have fired on crowds, killing hundreds, internet access has been severely restricted, private newspapers have been barred from publishing, and protesters, journalists and politicians have been arrested in large numbers.
Spectators from abroad to be barred from Tokyo Olympics (AP) At last it’s official after countless unsourced news reports and rumors: spectators from abroad will be barred from the postponed Tokyo Olympics when they open in four months. Officials said the risk was too great to admit ticket holders from overseas during a pandemic. The Japanese public has also opposed fans from abroad. Several surveys have shown that up to 80% oppose holding the Olympics, and a similar percentage opposed fans from overseas attending.
‘You can’t escape the smell’: mouse plague grows to biblical proportions across eastern Australia (The Guardian) Drought, fire, the Covid-19 pestilence and an all-consuming plague of mice. Rural New South Wales has faced just about every biblical challenge nature has to offer in the last few years, but now it is praying for another—an almighty flood to drown the mice in their burrows and cleanse the blighted land of the rodents. Or some very heavy rain, at least. It seems everyone in the rural towns of north-west NSW and southern Queensland has their own mouse war story. In posts online, they detail waking up to mouse droppings on their pillows or watching the ground move at night as hundreds of thousands of rodents flee from torchlight beams. After years of drought, rural NSW and parts of Queensland enjoyed a bumper crop due to the recent wet season. But this influx of new produce and grains has led to an explosion in the mouse population. Locals say they started noticing the swarms up north in October and the wave of rodents has been spreading south ever since, growing to biblical proportions.
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epichouses-net · 5 years
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A classic contemporary home located in a desirable neighborhood. Features include over 2000 sq feet, 3 Bedrooms, 2 full Baths, 1 half Bath, 2 Car Garage, and a level Backyard set on .72 acres! The spacious main level features a bright sun-filled living room with oversized windows, an open floor plan with views from the eat in kitchen into the family room, a half bath, and a built in wet bar. A large dining room is just off of the kitchen and will be perfect for holiday gatherings. The second level features a spectacular master suite with a private shower, jacuzzi, and walk-in closet. There is two additional bedrooms, a full bath, and a grand view overlooking the living room. A sliding door from the eat in kitchen takes you into the private backyard with a large deck great for relaxation or entertaining guests. Desirable features include an in ground sprinkler system, central air, and a home security system. Take a stroll through the neighborhood which features a beautiful pond and walking paths. While you can enjoy the tranquility from a quiet neighborhood, this house is still conveniently located within 15 minutes from Hartford, Springfield, and Bradley International Airport. This home has the privacy and peace you want with the ease of accessibility to the places you need to be. Schedule a showing today! Motivated seller, bring your offer! Offered at $273,000 (Negotiable) Call/Text📲860-997-0653 to schedule a showing! . Hashtags: . #realestate #home #house #homedecor #luxury #realtorlife #decor #design #interiordesign #architecture #realestateagent #art #dreamhome #entrepreneur #realtor #inspiration #investment #forsale #lifestyle #photography #luxuryhomes #wealth #luxuryrealestate #business #motivation #success #property #love #money #fashion (at Tom Nguyen - Trend 2000 Real Estate LLC) https://www.instagram.com/p/B1TxWq-A6cQ/?igshid=14zlk7hc2491z
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gslocksmith · 4 years
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Different Combination Locks
Locksmiths have the skills of repairing and replacing locks and keys, and they also able to install the locks of the windows and window bars. All the professional locksmiths can provide all these kind of services by using the best materials. People who own businesses, may feel more protected after knowing that the locks are securing there windows. If you want to increase the security then windows bars can be used for this purpose. Window bars are really a very effective layer of protection and it is not very easy for any thief to break these bars. Following are some other services that a locksmith may provide. Different Combination Locks:The combination locks are very famous because they provide high level security to their users. Most of the combination locks use an internal device which is called a wheel pack. Basically the wheel pack is the set of wheels that cooperates in a way which provides a combination of numbers that can be used to open it.
In some cases the combination lock will get jammed. Due to this jam it will not be able to turn or simply it would not unlock. The professional residential locksmiths are very well trained in lock picking and open the combination lock when all other alternatives have been failed to open the lock.Safes Replaced or Opened:All the professional locksmiths can repair, sells and install safes for both commercial and home use. Financial buildings like banks, contains many safes that need to be checked by the locksmiths periodically, in order to preserve proper safe keeping abilities. Vault doors and safe deposit boxes are also require maintenance in order to avoid any kind of disruptions. It is very important for the institutions like banks to properly open and close all vaults and safes, in order to provide the best services to their customers. All the professional local locksmiths are very well trained to deal with any kind of safe or vault.Repairing of Broken Locks:Locksmiths also have the abilities to repair broken locks.
They have good skills to repair all kind of locks by fine tuning the interior parts of the locks or by replacing the bad or broken parts of the locks. An experienced locksmith can repair any kind of lock and security system in a very short period of time. Sometimes locksmiths also have to make some custom repairs to certain items which may require some special tools like grinding machines, drills and other tools, thus this kind of repairing works done by the locksmith in their shops where they are freely able to use any kind of tool. Electronic Security Systems:As we know that locksmiths are able to install or repair different kind of manual locks but they also got very good skills when it comes to the electronic lock systems. The professional locksmiths install and served various kinds of electronic locks or security systems which also include close circuit cameras. You can easily watch all your property by just sitting in a room by using close circuit cameras.
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trendingnewsb · 6 years
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Financial Freedom is Not a Fantasy: 9 Secrets to Get You There
Have you ever considered your life now, and how it would be if you had more time to spend with your family and less worries about money?
Nowadays, financial stress is one of the most troublesome weights in life. If you’ve ever encountered financial stress, you know the difficulty of not having enough income to pay your obligations or bills.
Many people say that money is not the ultimate goal of life. While that’s true, money certainly plays a very significant role. The meaning of financial freedom changes with the different phases of our life, but ultimately, it is something that many people strive for.
In this article, we’ll explain how to capture that financial freedom you’ve been looking for. Read on to learn the secrets to financial freedom.
Break Free of Your Finances
Financial freedom is about having a constant flow of cash from your assets to cover all your regular needs.
When you are not worried about your income, or living paycheck to paycheck, you gain a great sense of freedom. It’s the freedom to be obtain and do what you truly need to make your way through everyday life.
Gaining financial freedom, though, is a process of growth, making small improvements and gaining emotional strength.
Though it seems hard to believe, it is really very simple to get financial freedom.
To do so, you simply need to make sure that your assets exceed your liabilities. In other words, you’ll need to find the sweet-spot where your residuals meet or surpass your expenses. This is something that you can achieve with the proper plan.
While not every person will accomplish financial freedom, the potential for anyone to do so is certainly there. Anyone can achieve this success, regardless of their income level.
Outlined below are 9 secrets that will help you in your goals of achieving financial freedom.
1. Stop Unnecessary Spending
We often spend money inwardly, instead of objectively.
For example, you may spend when you’re anxious, depressed, restless, exhausted, from fear of missing out, or to please others. This is a very unhealthy way to handle your finances.
To stop this habitual spending, log down all your spending over the course of a month.
Just as some people keep a food diary, keep an expense diary. Remember not to just write down how much and what you spent the money on, also include the circumstances of why you spent the money. Was it an impulse buy at the checkout line or was it something you planned to purchase?
This increased self-awareness could enable you to avoid triggering situations in the future when you are considering an impulse buy.
2. Plan a Monthly Budget
This is a great opportunity to get serious.
Take a seat with your spouse or partner and make a monthly budget based on your income, not your expenses. You are never again going to spend more cash then you have on hand.
Overspending is the thing that led you to more financial obligations. Make sure you decide every month what is coming in and what will be going out and stick to that budget… no matter what.
3. Cut-up Credit Cards
Perhaps you are the type of person who always pays your credit card balance in full before the end of your billing cycle, and enjoys the reward points you gain. If this is the case, then you’re already way ahead of the game.
If not, you may want to consider ridding your life of the burden that credit cards bring.
Many cards have strategies set up so that if you make a certain number of late payments, they will raise your interest rate much higher. This can really add up in the long run and you won’t be doing your financial situation any favors. If you’re prone to late payments or have a large balance due on your cards, cut them up!
Without proper self control on credit card spending and payments, you are basically throwing your money away. To ensure that you have better control over your spending, use only cash or debit for all future purchases (and don’t forget to pay at least your minimum payment on your cut-up cards each month!).
4. Increase Savings
There is no doubt that for a comfortable retirement you must accumulate satisfactory savings throughout your working life.
It’s good practice to save up to 15% of your income.
Start with your workplace 401(k), if you have one. If not, a Roth IRA (if you are eligible) or a traditional IRA (if you are not eligible for the Roth) are the next logical steps.
Increase in longevity means you might be able to look forward to 25 to 30 years in retirement, or possibly even significantly more. Investing now in good retirement plans will ensure that you have a guaranteed a stable monthly income when the time comes to stop working. [1]
5. Invest Wisely
Consider investing in funds.
Specifically, you will gain higher returns if you invest in different types of mutual funds such as Debt funds, Equity funds and Hybrid funds with a proper balance, although it absolutely relies on your personal preferences and sense of risk taking.
To get the most of these benefits, make sure you are investing in a variety of assets. Another resource of investing in mutual funds is SIP (Systematic Investment Plan) where you invest some money every month in funds. SIP works by averaging the per unit price of the stock.
Mutual fund investors are aware of the benefits of an SIP (Systematic Investment Plan). For one, it is the most secure way to invest in equity mutual plans so that wealth is created over a long period of time. This plan also helps you to gain a better sense of financial discipline, which will come in handy in all your financial endeavors.
6. Invest in Gold
There isn’t really a better way to invest in gold than to have the physical gold itself in your possession.
You can purchase gold coins and bars from mints as well as from coin dealers and other private sellers.
Another way to invest in gold is through ETFs (Exchange Traded Funds).
These are is similar to mutual funds but they are exclusively investments of gold. ETFs are great because they offer more liquidity; the ETF owns the actual physical gold, stores it, and retains the value of the shares. These shares can then be bought and sold in the stock market, and one big benefit is that the transaction costs of gold ETFs are much lower than the that of physical gold.
With its consistently-increasing demand, investment in gold can be very wise long-term investment to make.
7. Stash Emergency Funds
Whether it’s a cash gift or a work bonus, always try to save any extra money that comes your way rather than making unneeded purchases.
If you get paid every other week, you’ll get an “extra” paycheck (three rather than the usual two) twice a year. Either save those paychecks towards your emergency funds or utilize the money to pay down other obligations, such as loans, credit cards or other debts.
Make it hard to get your cash.
Put your savings in an alternate bank, maybe an online bank that forces you to delay for several business days before transferred money hits your regular bank account.
8. Find Fabulous Mentors
Find a mentor, such as a friend or family member, who has exceptional control over their finances and pay attention to everything they do.
If you do not have any friends or family that are enjoying financial freedom, then find a mentor online! There are numerous blogs and guru websites featuring the advice of many people who have reached financial freedom, and they exist primarily to let you in on how to achieve it for yourself.
There are also plentiful forums available that share tips and tricks on how to best achieve financial freedom. Read as much as you can and start changing your habits for the better.
9. Be Extra Patient
Patience is the key of financial success.
Being patient can be quite tough, especially when you’re struggling with your finances, but having faith is worth it. You’ll continuously be on the right track if you are taking the proper steps above.
So don’t be discouraged, even if you are only saving a few dollars a month; it all adds up. Within just a few years you’ll look back proudly at your accomplishments and be glad that you had the patience to get there.
Financial Freedom for All
Anyone can achieve financial freedom, regardless of their financial circumstance.
Use the tips provided above to get yourself on the track to financial freedom and toss your monetary concerns out the window. If you wish to achieve a life with financial freedom for yourself and your family then you must adopt a disciplined approach towards your finances.
Following the simple secrets above is a great start to making your money work for you, so you can work less and live more!
Featured photo credit: rawpixel via unsplash.com
Reference
[1]^Hartford Gold Group: IRA Retirement Accounts
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The post Financial Freedom is Not a Fantasy: 9 Secrets to Get You There appeared first on Lifehack.
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jeffgrantct-blog · 7 years
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The Cheshire home invasion, which took place on this day 10 years ago, shattered Connecticut’s sense of security like no crime up till then. Every house suddenly felt vulnerable. Sales of window bars, alarms and mace went through the roof.
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joesbrownusa · 8 years
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Houses For Sale in Rubicon, WI
3324 Moss Rd #LT1
Price: $46900
Over acre lot in the town of Rubicon. Beautiful sunsets, full walkout exposure, bus pickup at home. Great building site in SE Dodge County, not in a subdivision lot, great views.
LT1 Hwy P
Price: $265000
17 Ac. In the Rubicon Sewer district mostly high ground with good drainage has the Willow creek passing through it. Wooded areas along the creek & fence lines surrounding the property provide lots of privacy from the road. The parcel is split able from 2 to 20+ lots & had prior approval from Hartford and Rubicon for a 24 Lot subdivision. Convenient location just off of Hwy 60 makes it great for a private/closed community type development, subdivision, private complex, or many other applications.
LT1 N Jefferson Rd
Price: $199900
17 Acres perfect for Hobby Farm or Equestrian lovers. Nestle your home in the beautiful 6 acres of woods and you will have plenty of space for a barn or outbuilding on the remaining 11 acres. Slope to the land could lend to partial exposure. This is a hidden gem only 10 minutes from Hartford and 20 from Oconomowoc. No limit for the number of horses. You must walk this property to appreciate the beauty and peace rural living has to offer. Perked for mound septic. Zoned Agricultural land.
LT8 Hilltop Rd
Price: $29000
PRICE REDUCED!! If you are looking for a nice, country subdivision, not too far from the city, come and check this one out. The lot is nearly a half acre and offers southern exposure with a view of fields across the street. The property will need a private well. There is city sewer in the road, and a lateral will need to be installed when a house gets built. Great minimum square footage of only 1,200 for a ranch home.
W1039 Stone Bridge Ct
Price: $424900
Luxurious New Construction 2 story with 4 BR’s, 3.5 Baths, finished walk out LL & 3 car garage. Loaded with quality features. Volume Ceiling, Gas Fireplace, Walk in Pantry with Barn Door, Deck overlooking wooded backyard, granite countertops, raised snack bar, pot filler, ceiling fans w/lights in GR, all bedrooms. Master Bath with 2 bowls, walk in shower, Walk in Closet. Finished LL with bedroom/Walk in closet, full bath and family room area (33'x17’) with patio door to back yard. Extra large 3 car garage with garage openers/keyless entry pad. Paved Driveway/Final Gra ding. Woodbury Homes Quality. Occupancy Aug 2016.
1005 Nynfeo Florina Greece
Price: $1464750
The Greek Word for bride is Nyfi. As it is believed that a bride is the most beautiful on the day of her wedding, the name was chosen for possibly the most beautiful village in Greece, Nymfeo, which has been many times voted by European traveling guides as one of the 10 most beautiful villages in the whole of Europe! And with good reason. This is a village built in the Middle Ages, preserved with the outmost care, that is surrounded by the most beautiful mountains of Greece, yet very near the most picturesque lakes, and just about 15 miles from the town of Florina. The boutique traditio nal 31 rooms capacity Hotel Argiro, is situated at about 3,500 sq feet, at the highest point of the village Nymfeo. Splendidly renovated with the outmost attention to traditional details, offers peace, beauty and superb views. World class hiking in the nearby famous Oak Forest, horse riding, Olympic configuration ski resort the biggest in Greece. Agents please read Private Remarks
W1191 High Pointe Dr
Price: $279900
This 3 BR/3BA ranch home has almost 3000 square feet of living space!Open concept Great Room w/stone floor to ceiling GFP; Kitchen w/center island, hdwd floors w/inlays & dinette that opens to outdoor patio with bar and fire pit. Master suite w/volume ceiling, WIC & private full BA. Lower level finished to the Nines!A brilliant Media room~wet bar~game room~family room~full bath.The whole house is wired for audio, security, internet, central vac; heated garage!
W1152 State Road 60
Price: $190000
Beautiful Old Farm house on 1.65 acres. Brand new remodeled bathroom, new windows, new roof, new furnace and AC. Upgraded power and septic. New deck and Tiki bar attached. MUST SEE
N1940 Bluebird Bay
Price: $334900
Gorgeous updated home/country setting located just 2 miles from Erin Hills Golf Course. Truly your own nature preserve where wildlife abounds! Central feature is a beautiful Great Rm w/vaulted ceiling & FP, added in late 90’s along with Anderson windows throughout house. New expansive deck for your total outdoor experience, including use of screened gazebo. Complete new tear off roof in 2016, 2 upper baths updated in 2014 & Kitchen remodeled ten years ago including SS appliances. Cozy breezeway connects to awesome insulated 3.5 car garage w/heat & A/C. Tranquility resides here – Don’t miss it.
LT0 Hilltop Rd
Price: $20000
Bring your dream home plans! Level lot in rural community, easy commute for schools and shopping
W1297 Macarthur Rd
Price: $595000
Rolling acerage with a nice mix of tillable, low lands and hardwoods. The perfect location for hunting retreat or dream home. Property features 3 bdrm/2Bth Farmhouse. Lg KIT with oak cabinets, just waiting for some TLC. Lg LIV Rm, cathedral ceiling, stained glass, French doors out to deck. Main flr laundry. DIN Rm with HWF’s. Barns and outbuildings in need of repairs.
W1124 Rome Rd
Price: $174900
Nice Lannon Stone home w/large country kitchen & pantry. Formal dining room w/2 china cabinets. Sunny living room. Den w/built-in bookcases. 2 staircases to the 2nd level which features a spacious room w/pine ceiling currently used as 4th bedroom. Partially finished basement has natural pine paneling & second bath plus a 2nd stair case to garage. Newer roof, windows,driveway. New furnace in 2015. Hardwood & laminate floors. Located on a large lot w/mature trees. Only 5 minutes from Hartford or 50 min from Milwaukee.
from Houses For Sale – The OC Home Search http://www.theochomesearch.com/houses-for-sale-in-rubicon-wi/ from OC Home Search https://theochomesearch.tumblr.com/post/157954748115
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Financial Freedom is Not a Fantasy: 9 Secrets to Get You There
Have you ever considered your life now, and how it would be if you had more time to spend with your family and less worries about money?
Nowadays, financial stress is one of the most troublesome weights in life. If you’ve ever encountered financial stress, you know the difficulty of not having enough income to pay your obligations or bills.
Many people say that money is not the ultimate goal of life. While that’s true, money certainly plays a very significant role. The meaning of financial freedom changes with the different phases of our life, but ultimately, it is something that many people strive for.
In this article, we’ll explain how to capture that financial freedom you’ve been looking for. Read on to learn the secrets to financial freedom.
Break Free of Your Finances
Financial freedom is about having a constant flow of cash from your assets to cover all your regular needs.
When you are not worried about your income, or living paycheck to paycheck, you gain a great sense of freedom. It’s the freedom to be obtain and do what you truly need to make your way through everyday life.
Gaining financial freedom, though, is a process of growth, making small improvements and gaining emotional strength.
Though it seems hard to believe, it is really very simple to get financial freedom.
To do so, you simply need to make sure that your assets exceed your liabilities. In other words, you’ll need to find the sweet-spot where your residuals meet or surpass your expenses. This is something that you can achieve with the proper plan.
While not every person will accomplish financial freedom, the potential for anyone to do so is certainly there. Anyone can achieve this success, regardless of their income level.
Outlined below are 9 secrets that will help you in your goals of achieving financial freedom.
1. Stop Unnecessary Spending
We often spend money inwardly, instead of objectively.
For example, you may spend when you’re anxious, depressed, restless, exhausted, from fear of missing out, or to please others. This is a very unhealthy way to handle your finances.
To stop this habitual spending, log down all your spending over the course of a month.
Just as some people keep a food diary, keep an expense diary. Remember not to just write down how much and what you spent the money on, also include the circumstances of why you spent the money. Was it an impulse buy at the checkout line or was it something you planned to purchase?
This increased self-awareness could enable you to avoid triggering situations in the future when you are considering an impulse buy.
2. Plan a Monthly Budget
This is a great opportunity to get serious.
Take a seat with your spouse or partner and make a monthly budget based on your income, not your expenses. You are never again going to spend more cash then you have on hand.
Overspending is the thing that led you to more financial obligations. Make sure you decide every month what is coming in and what will be going out and stick to that budget… no matter what.
3. Cut-up Credit Cards
Perhaps you are the type of person who always pays your credit card balance in full before the end of your billing cycle, and enjoys the reward points you gain. If this is the case, then you’re already way ahead of the game.
If not, you may want to consider ridding your life of the burden that credit cards bring.
Many cards have strategies set up so that if you make a certain number of late payments, they will raise your interest rate much higher. This can really add up in the long run and you won’t be doing your financial situation any favors. If you’re prone to late payments or have a large balance due on your cards, cut them up!
Without proper self control on credit card spending and payments, you are basically throwing your money away. To ensure that you have better control over your spending, use only cash or debit for all future purchases (and don’t forget to pay at least your minimum payment on your cut-up cards each month!).
4. Increase Savings
There is no doubt that for a comfortable retirement you must accumulate satisfactory savings throughout your working life.
It’s good practice to save up to 15% of your income.
Start with your workplace 401(k), if you have one. If not, a Roth IRA (if you are eligible) or a traditional IRA (if you are not eligible for the Roth) are the next logical steps.
Increase in longevity means you might be able to look forward to 25 to 30 years in retirement, or possibly even significantly more. Investing now in good retirement plans will ensure that you have a guaranteed a stable monthly income when the time comes to stop working. [1]
5. Invest Wisely
Consider investing in funds.
Specifically, you will gain higher returns if you invest in different types of mutual funds such as Debt funds, Equity funds and Hybrid funds with a proper balance, although it absolutely relies on your personal preferences and sense of risk taking.
To get the most of these benefits, make sure you are investing in a variety of assets. Another resource of investing in mutual funds is SIP (Systematic Investment Plan) where you invest some money every month in funds. SIP works by averaging the per unit price of the stock.
Mutual fund investors are aware of the benefits of an SIP (Systematic Investment Plan). For one, it is the most secure way to invest in equity mutual plans so that wealth is created over a long period of time. This plan also helps you to gain a better sense of financial discipline, which will come in handy in all your financial endeavors.
6. Invest in Gold
There isn’t really a better way to invest in gold than to have the physical gold itself in your possession.
You can purchase gold coins and bars from mints as well as from coin dealers and other private sellers.
Another way to invest in gold is through ETFs (Exchange Traded Funds).
These are is similar to mutual funds but they are exclusively investments of gold. ETFs are great because they offer more liquidity; the ETF owns the actual physical gold, stores it, and retains the value of the shares. These shares can then be bought and sold in the stock market, and one big benefit is that the transaction costs of gold ETFs are much lower than the that of physical gold.
With its consistently-increasing demand, investment in gold can be very wise long-term investment to make.
7. Stash Emergency Funds
Whether it’s a cash gift or a work bonus, always try to save any extra money that comes your way rather than making unneeded purchases.
If you get paid every other week, you’ll get an “extra” paycheck (three rather than the usual two) twice a year. Either save those paychecks towards your emergency funds or utilize the money to pay down other obligations, such as loans, credit cards or other debts.
Make it hard to get your cash.
Put your savings in an alternate bank, maybe an online bank that forces you to delay for several business days before transferred money hits your regular bank account.
8. Find Fabulous Mentors
Find a mentor, such as a friend or family member, who has exceptional control over their finances and pay attention to everything they do.
If you do not have any friends or family that are enjoying financial freedom, then find a mentor online! There are numerous blogs and guru websites featuring the advice of many people who have reached financial freedom, and they exist primarily to let you in on how to achieve it for yourself.
There are also plentiful forums available that share tips and tricks on how to best achieve financial freedom. Read as much as you can and start changing your habits for the better.
9. Be Extra Patient
Patience is the key of financial success.
Being patient can be quite tough, especially when you’re struggling with your finances, but having faith is worth it. You’ll continuously be on the right track if you are taking the proper steps above.
So don’t be discouraged, even if you are only saving a few dollars a month; it all adds up. Within just a few years you’ll look back proudly at your accomplishments and be glad that you had the patience to get there.
Financial Freedom for All
Anyone can achieve financial freedom, regardless of their financial circumstance.
Use the tips provided above to get yourself on the track to financial freedom and toss your monetary concerns out the window. If you wish to achieve a life with financial freedom for yourself and your family then you must adopt a disciplined approach towards your finances.
Following the simple secrets above is a great start to making your money work for you, so you can work less and live more!
Featured photo credit: rawpixel via unsplash.com
Reference
[1]^Hartford Gold Group: IRA Retirement Accounts
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