“The Fake I.D. Millionaire Draft”

Hello On-lookers, 

Welcome to my first issue with the new “Sponsored Feature” value! As you can see above is the business that is being sponsored within the newsletter. You will have a chance to read more about it as you go through the issue.

For all of the new subscribers and readers, I want to say thank you for chiming in. Throughout the past week you got to see the NBA Draft which is also called the “Fake I.D. Millionaire“, the Space Jam 2 cast has been released, a giant squid was finally caught on camera, and Toy Story 4 finds a way to make $118 Million! With all of that, I am going to introduce you to a few different topics, while also just expanding your current knowledge base on topics you already know about.

Image from: New York Post

What’s in today’s article:

  • What are ETF’s and why are they an important part of investing?
  • What age milestones do you need to hit in savings to be on target for retirement?….as they say…..
  • Sponsored Feature: Impact Financial Consulting

News & Topics around the world:

  • PG&E plans to exit bankruptcy with a $31 Billion reconstruction.
  • Slack opens on the market at $26 per share with a Direct Listing of $15.6 Billion.
  • Netflix’s Murder Mystery movie is a smash with over 30 Million viewers in 3 Days.
  • Google stops all production of creating its own “Pixel Slate” tablets
  • Bitcoin is now trading above $11,000, all because of Facebook’s “Libra.”

WTF is an “ETF”?

Image from: Motley Fool

The first part of the business is telling you what the acronym ETF stands for; exchange-traded fund. An exchange-traded fund is a basket of securities that, through a broker, you can buy and sell. These securities include stocks, bonds, commodities, and even a combination of each in some sort of fashion.

It might be time to tell you what I believe that ETF’s are important to invest in; (one) they have the diversification of a mutual fund and (second) you can trade with the ease of a stock. I know a lot of this is going over your head, so I would use the highlighted terms in this section as a guide for what to research before purchasing. I also, at all times, recommend that you speak to a broker before investing your money into something you do not fully understand.

Benefits of an ETF:

  • Ability to diversify across industries.
  • You can buy and sell through the likes of; Robinhood.

Now there are also some flaws the come along with ETF’s. I like to show both sides of the card. Click the link here to see the ETF Flaws that Investors Should Not Overlook

Sponsor Feature:  Impact Financial Consulting

Summary of Business and Services:

Impact Financial Consulting works with individuals to help create a well designed financial plan that aligns their decisions with their values. We work with clients and coach them in ways that will help them be confident in managing their money. We primarily focus on three main areas of personal finance:

  • Savings
  • Debt Elimination 
  •  Investing Guide

The Importance of Saving Money

Make savings a priority. If nothing else, make sure that you are setting aside 5 to 10% of your income per paycheck just for savings at a minimum. This does not include investments or paying off debt but simply savings account for the unknown. This should be done automatically.

You can set up an automatic transfer to your bank account by going to your HR department and set up automatic transfers to be directly deposited to an online savings account. This will ensure that you do not forget or miss an opportunity to save money. Emergencies happen, however, the majority of the people are never fully prepared for a real emergency. For some reason, we enjoy life on the weekends. We prepare for a vacation. We even spend money like no other on eating out. But when it comes to setting aside some money so that we are not in distress, it’s like a foreign language. 

Unexpected expenses happen all the time yet there are no changes in our financial habits that cause us to think ahead. By simply putting aside at least 5% of each paycheck, you are setting yourself up for success. This savings is not for foolish spending, but actual unplanned expenses or emergencies. These things include; getting sick or having to take off work, losing one’s job, an unexpected household repair, or a malfunctioning car. Life becomes so much easier when we plan for the unknown. Because whether we like it or not, something that we did not plan for will happen. Let’s make sure that we’re paying ourselves first and be responsible with our finances by saving before we spend.

Visit their site through the following link!

Impact Financial Consulting

SAVE to “Vacay” in Retirement

Image from: USA Today

During this day and time, it turns out that saving for retirement is not a goal for the current Millennials generation. Let me give you a quick example of how a Baby Boomer and a Millennials retirement conversation would go.

Baby Boomer: “How much are you putting towards your 401K?”

Millennial: “IDK, I haven’t changed it yet.” (As they look at a video on Instagram)

Baby Boomer: “You need to do that before its too late and then you’re playing catch-up in your 50’s!”

Millennial: “Man, I’m not worried about that….. I’mma be a millionaire by 30 anyways!”

Baby Boomer: “Mwah mwah mwah”

Millennial: “I ain’t worried, I’mma be rich anyway.”

Well, now that my reenactment is complete let me give you the information you are here for. If you are saving for retirement, following this layout will give you a high percentage chance of having plenty to retire comfortably.

  • 30 y/o:  Have savings equivalent to your salary
  • 35 y/o:  2(x) your annual salary earned
  • 40 y/o:  3(x) your annual salary earned

I know that the above sounds a bit unreasonable based on when you get out of college, where you are starting financially, how much you have in student debt loans, and even if you have a child a bit early. Use this as a marker and adjust based on your financial situation. Just understand that retirement by 60 years old is to have at a minimum of 10 times your annual salary saved up.

Read more on it by through this Forbes article here.

What’s in store for next week’s article?

  • What are (5) Stocks that are projected to grow exponentially throughout the next few years?

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