Friday, June 22, 2012

Money Management in a Down Economy

Plot of S&P Composite Real Price-Earnings Rati...
Plot of S&P Composite Real Price-Earnings Ratio and Interest Rates using data from irrationalexuberance.com/shiller_downloads/ie_data.xls (Photo credit: Wikipedia)
In case you hadn't heard, the stock market took it's second largest plunge of the year yesterday, which was quite poor timing when most investors were seeing optimization in a sluggish economy. So where does that leave us who are fairing quite well and have money to invest? Sadly, there aren't many options at the moment. Governmental bonds have historically low interest rates, and the rates of return frankly aren't enough to keep up with inflation. The only money to be made seems to be in the money markets, but that continues to be quite risky. As they say, you want to buy your sunglasses when it's rainy, but picking the right sunglasses is the tough part. Many start ups are being formed, but the risk is too hard to pick just one. That's why the best game plan at the moment is investing small amounts in many start ups, and hoping a few of them will see great numbers in the next 5 years.

Friday, March 23, 2012

What will it take to become a Millionaire?

Do you want to be successful or flourishing, especially in financial respects? The majority of people would probably answer yes to this question, particularly because of the current economic conditions. According to dictionary.com, being successful in financial respects is known as prosperity. Although we would all like to prosper, it isn’t an easy task. This blog may be called prosperity formula, but sadly there is not a formula that leads you to prosperity. People or businesses that reach prosperity tend to do it in their own way. Some individuals and business leaders have always been great with their money and investments and have prospered on their own; others have needed assistance and guidance. Financial planners can be very helpful in creating a strategy for money management. Certain banks and credit unions such as Lake Trust Credit Union can also assist you in your effort or your businesses to prosper. Their website offers calculators such as savings calculators, budget calculators and more to help you manage your financial life. Offline, Lake Trust representatives, may be helpful to you as well. Check out their office locations to find a representative near you to create a financial plan so you can be on your way to becoming a millionaire!