Retirement

I researched the internet for a new home business and someone sent me a Mia Bella Candle. I loved it but I never did anything for a year, just kept checking out different companies. Since I believe in buying products made in the USA, and I knew this candle was from a company that proudly made their candles in Wilkes Barre, PA, not very far from me, I finally joined up with them. I was just going to sell their candles and make some profit to pick up the loss of hubby's income. Well, this business has proven to be much more than that. Read More »

I now have peace of mind.” “This really helps out a great deal and solves many problems.” “My friend is a changed man.” “You’re an angel.” “You’re sent from heaven.” “What a mission you do.” These are words I have heard from people who have a reverse mortgage. Seniors may have many years behind them, but they still have many valuable years ahead of them with some important living to do. Yet they often find it difficult living on a fixed income. Read More »

Last night, Lilian Garcia stepped out of the ring and waved goodbye to her career as an announcer for the WWE. Garcia, one of the federation's most famous voices, participated in many of the dramatic story lines while wielding the mic for Raw and other wrestling specials and shows.

Dubbed the first and only "Decade Diva" for the WWE, Garcia's ten-year stint came to an official and emotional close, which she described as "tough." Although her contract expires at the end of the year and wrestling publications report that her retirement was not a surprise.

What is most interesting to me about this story is not that the singer, radio deejay, and pageant winner made a career out of belting out the national anthem and playing along with wrestling hijinks, but the reason given for her departure. Garcia, blogs and other pubs are saying, left to get married.
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Question: Would you rather have a million dollars now or take a penny now and double the amount for 30 days?
 
As expected, 90% of people chose the million dollars now option. I would have made this choice myself a few years ago. But this would have been the poorer choice, because you would have shortchanged yourself by over $4 Million at month-end. Don’t believe me? Look at penny table calculation on the right. The simple act of doubling your previous day’s investment can rapidly reap huge rewards thanks to the powerful concept known as compounding .

Now a 100% return every day is highly unlikely, but the principle of compounding holds true for even smaller returns (though it will take longer than a month to make your fortune). This is why compounding is a core aspect of good personal finance and the reason why the rich get richer. As outlined in a Kiplinger , when you're young, you have an asset money can't buy: TIME. Start saving now and turn pocket change into riches. Compound interest has been called the eighth wonder of the world. And with good reason. It magically turns a little bit of money, invested wisely, into a whole lot of cash. Even Albert Einstein is said to have called it one of the greatest mathematical concepts of our time. Read More »