WIth all the different retirement vehicles out there, it can be extremely confusing to figure out how to start saving for retirement. Do I use an IRA? What about a 401K? How come my teacher friend has a 403b? What do all these confusing numbers and letters mean!?!!? Don’t worry, I am here to map out the majority of the retirement vehicles that are available and to give you a big picture view. Once you have this big picture view, the retirement vehicle landscape will become much clearer. If you haven’t even thought about saving for retirement, you need to read this post here.
Are you just starting your job search or would you like to improve your skills? The ability to work with data using a spreadsheet software such as Excel is one of the most fundamental skillsets across industries and functions. Although the level of knowledge and expertise will vary depending on the role, most office positions will require that you have at least some basic understanding of spreadsheets. After all, business decisions are commonly made based on data, and your ability to analyze and interpret that data will enhance the quality of your decisions. Here, I will outline the basic skills that you’ll need and provide you a few resources to get started.
Think of your Linkedin profile as your online, public resume. Whether you are looking to move up or move laterally, recruiters and managers will most likely check out your Linkedin profile in addition to the resume you submitted. Even when you are not applying for jobs, recruiters will frequently scour Linkedin to look for viable candidates. You never know when an amazing opportunity may come up. Therefore, it is important to have a strong and appealing Linkedin profile. Here are my top tips for improving your profile.
For people in the lower income tax brackets and recent graduates who may not have worked the full year, there is a Retirement Savings Contribution Credit (Saver’s Credit) that you can take advantage of. Most investment professionals tend to focus on people with higher incomes, therefore they may overlook this obscure tax credit. This little known tax credit can provide you a substantial return on your investment before any market returns. See the chart below applicable to 2015.
What is a Mentor?
A mentor is someone who invests time and energy into helping you succeed. She provides advice and possibly referrals to new career or business opportunities.
Why Have a Mentor?
A lot of times as a professional, both young and old, you don’t know how to take the next step. You want to further your career, but you don’t want to make the wrong move. Other times, you may need new business opportunities to grow your business. However, you’re not sure how to find those opportunities.A mentor is someone who invests time and energy into helping you succeed. She provides advice and possibly referrals to new career or business opportunities.
Known as the Oracle of Omaha, Warren Buffett is considered by many the greatest investor of all time. His business acumen and investing IQ are through the roof. Even at 85 years of age, his mind is still sharp and he has the energy of a much younger man. Over the years, he has given us many great nuggets of wisdom. I will go over some of that wisdom here.
Well, not instantly, but you can very quickly increase your income and job opportunities by moving to a new location. Of course, people may have friends and family ties to a certain area. They may have financial obligations such as a mortgage or other types of debt holding them down. They may have a family to raise which makes it more difficult to just pick up and move. It might also be scary for some people to move and start from scratch again. However, I recommend not eliminating the possibility of moving to a new area to enhance your economic opportunities. I recommend keeping an open mind and not limiting yourself to a certain location just because you have been there your entire life. By limiting yourself in this aspect and not even considering other locations, you are severely handicapping your financial security and economic prospects.
In the business world, PowerPoint presentations, or “decks”, are one of the most commonly used mediums of communication. They are used to present information to clients, management, and staff. They are simply a set of slides that may contain a variety of texts, images, videos, sounds, and other forms of media. However, most of the decks that I’ve seen aren’t that great. They either don’t tell the story well, don’t contain the right amount of information, poorly designed, or just lifeless. Here are some tips for improving the decks that you create.
The typical way of thinking for most professionals is to work over a 40-year career, invest consistently into their retirement accounts, then retire once they’ve hit retirement age using the savings they’ve amassed over their careers. However, who says you can’t retire early? You may think that you need to really hit it big at an early age to achieve financial independence, but that is not necessarily true. In order to figure out how to achieve financial independence, we need to first think about the variables and factors that will allow us to retire. Once we’ve figured that out, we can think of strategies to get to that point. It is simpler than you think.
Many young aspiring business professionals only tend to look at finance jobs such as investment banking and private equity or consulting jobs at firms such as McKinsey, Bain, and BCG. The reasons for such a limited mindset is that these jobs are considered extremely prestigious, pay very well at all points of the career, and create tremendous exit opportunities. However, I am here to tell you that there are other ways to be successful, even more successful than taking those so-called prestigious jobs. If you only limit your mindset to those types of positions, you are putting yourself at a huge disadvantage career-wise.
Professional Development and Personal Finance Blog