Young people have got used to the title “Live fast die young.” They work hard; they play hard, spending all their money on whatever comes to mind. Cars, expensive brand clothing or accessories, nightclubs, bars; all of the above is just a top of an iceberg called “wants.” But as Mick Jagger once said in one of his songs everybody knows “You can’t always get what you want.” Think of how much you lose spending all that money that could be saved for later. And when the time comes to an older age, it appears that you can’t afford peaceful retirement.
Let’s go over several facts showing why investments and retirement planning is preferable to start at a younger age.
Time is at your side. You just turned 40 and decided it’s finally time to plan your retirement. Assume you make a single $10,000 investment. When you turn 65, and that’s a pretty respectful age, you realize, after 25 years with 5% per year planning your investment turned to $33,863.55 in case you’ve been compounding your savings year by year of course. You may say, this is not bad, but after a year you’ll realize your investment faded away as quickly as it appeared.
Now imagine you invested the same $10,000 when you are 20. Of course, it might require considerable efforts to accumulate this amount of money, but it doesn’t mean you can’t invest less. So, $10,000 invested for 45 years turns into $89,850.08 (if reinvesting your gains of course). It’s nine times more than was in the beginning. Now imagine if you invest the same amount of money each year?
Another idea as you are becoming more experienced at investing is to hire a professional investment adviser. As Warren Buffett, millionaire and one of the most successful investors, said: “Risk comes from not knowing what you are doing.” As investment adviser has the expertise, contacts and is always up to date with the latest trends. Remember “Diversification is the key to successful investing”
You always have a lifeline. Investments collected on your saving account may help you to recover from a major hit in life. Anything can happen, and nobody is safe from misfortunes life may throw at you. Accumulated for many years investments may lead your way back to the top and give you more freedom to take higher risk/higher reward investments.
You make saving and investing a habit. Along the years, when you’ve got used to invest in your future and keep money from useless spending, it would be much easier to prevent yourself from spending sprees and will bring up consciousness and responsivity for your life and your funds. This feature is necessary for every man to support his family and relatives. You will never go under because proficiency in money management keeps you standing tall.
In the end, when you invest early, you take the most advantages of the power of compounding. By reinvesting your earnings and creating a snowball effect with your gains. Keep in mind; wise investments will always keep you afloat.
The need for energy efficiency at home is a hot topic in the world today. Not only are we facing the environmental impacts of our excessive energy consumption, but people are beginning to feel the pinch in their wallets and are naturally looking for ways to save home energy and money.
Here are some energy saving ideas for your home that are well worth knowing:
Adjust your thermostat settings for energy savings based on the time of year. During the summer months, raise your thermostat up to 78 degrees. If you’re going outside or away from your home for more than four hours, consider raising it 5 to 10 degrees or more. During the winter months, lower your thermostat settings during the day to between 65 and 70 degrees. At night or when you’re away from home for several hours, set your thermostat to 58 degrees. If your house has a heat pump, avoid running the emergency heat by increasing the temperature slowly. Finally, consider installing a programmable heating thermostat that allows you to automatically adjust or program your thermostat settings throughout the day.
Lower your hot water heater settings to the optimal temperature range of 120-125 degrees Fahrenheit.
Check with your local energy supplier as to the most cost efficient time to do the laundry or use the dishwasher in your area.
Minimize water usage in everyday tasks. Don’ t let your water run while hand washing dishes. Avoid letting the water run while brushing your teeth or shaving. This is a bad habit most people need to break, but it would be well worth the effort.
Start taking showers instead of baths to save water. Go a step further and save more home heat energy by using cooler water.
Install low-flow faucets and shower heads. They are inexpensive, easy to install, and are great at reducing energy and hot water use.
Always try to wash a full load of clothes, and remember to properly adjust the water level for smaller loads.
Collect rainwater in a bucket or rain barrel and then use it to water your plants.
Make fixing leaky faucets a top priority. A faucet that drips once every second waste 2,000 gallons of water in a single year. Add to that the amount of home heat energy wasted if the leak is a hot water leak, and you are literally throwing your money down the drain.Maximize your energy light savings with saving energy bulbs and advanced lighting controls. Replace incandescent light bulbs with fluorescent compact bulbs. They use up to 75 percent less electricity. Use solar-powered accent lighting in your garden and along pathways. Install low energy LED light bulbs and night lights that come with photo sensors in bathrooms, bedrooms, and hallways. The photo sensors will keep the lights turned off during the day. Consider installing timers and dimmer switches to increase energy light savings. Be sure to use energy to save dimmable light bulbs with dimmer switches. When possible, rather than lighting a whole room, introduce task lighting and focus light only where it’s needed. In areas, where bright light is not always necessary or desirable, control lighting levels with three-way lamps. Remember to use three-way light bulbs for this purpose. Use low energy LED light bulbs for holiday lighting. A few more saving energy ideas to help reduce your utility bill include turning the lights off when you leave a room and cleaning your light bulbs regularly.