August 22, 2016
Just because you are running an online business doesn’t mean you don’t need life insurance. Things happen and you need to have the proper protection in case something was to happen to you. Just how much do you need?
That is the question we will try to figure out when purchasing life insurance, obviously. But before we go there, I want to stop for a second and tell you, “No matter what these calculations say, life insurance is only part of your financial picture, and don’t ever let anyone talk you into more than you can afford.” There is nothing worse than having a million dollar policy and you can’t make the payments on it, then you pass and your family gets nothing. It would be much better to buy a policy for half that amount, a term policy instead of a whole life (even if you want it,) a cash value policy. It’s important that you can afford it because it is part of your picture; it’s not the entire picture.
OK, so what we are going to do here is we are going to do the needs-based method for determining life insurance. So how much income will your family need if you passed away? Then we will look at other sources of income that you may have, such as your spouse’s income, or your partner’s income, or that could also be an income from stock dividends, or a trust you had set up for you a long time ago.
So, with this example we are going to say your family needs $2,000.00 a month to get by. Your partner makes $750.00. So we are going to subtract that and that leaves us a need of $1,250.00. We are going to take that, we’re going to times it by twelve months of the year, and the number of years you believe the income needs to be replaced. With this example we’re going to do 20. That brings us to a grand total of $300,000.00. Now please note, this total did not include interest you could be earning on your money that would lower the amount, or inflation that would increase the amount. But I will have a link to a calculator that does that for you, so your amount will probably be a little bit less because generally you get more return on your money than inflation.
Next, you may wish to add money to pay off your mortgage, an emergency fund, final expenses (funeral costs can be unreasonably expensive,) as well as an education fund for your children. With this example I am going to say $100,000.00 mortgage and other debt, so you might have other outstanding debt you want to have paid off, just defer that into the $100,000.00. We are going to put $15,000.00 into an emergency fund for the survivor. We are going to estimate $15,000.00 for final expenses. There might be some legal expenses, as well as funeral expenses. So keep that in mind. You might also want to set up a college fund for your kids, so they can go to college and get a great job. That comes up to $230.000.00. We add that to the $300,000.00 we had before; we come up to a grand total of $530,000.00.
Now, keep in mind if you pay off the mortgage, you can subtract that from the expenses on the previous calculations. Now take that $530,000.00 and we’re going to subtract a few things: any other life insurance you may have, as well any savings and liquid assets such as stocks, CD’s, things you could sell. Because, remember, we put back into the amount an emergency fund. So we are going to take these numbers and subtract it and we come up with a final need of $395,000.00.
These are just estimates, of course. Your own financial situation will determine what these numbers need to be for you. To learn how to find out exactly how much coverage you need, check out RVA insurance services. They can help put you on the right track to determine the right amount of protection.
March 9, 2016
Jennifer here with another great post on starting a business. Today I am sticking to the topic of starting online businesses. They are, in my opinion, the easiest to start, can be the most rewarding, low overhead, low maintenance and very simple to scale. I highly recommend that you start your online business around a niche that interest you; something that you have a passion for, like a hobby. I say that because this way it will not seem like a job, but you’ll have fun doing it every day. Below are three tips that, entrepreneur.com writer Daniel DiPiazza, feels will help you when starting an online business. Check Out His Article…
3 Steps to Quickly Start Making Money With an Online Business
Direct Article Source: Daniel DiPiazza | www.entrepreneur.com
While 99 percent of the population is going to work every day, trading their time for money…there’s a special group of “in the know” people who are waking up to a world of financial potential that most people don’t know is possible.
There’s a simple blueprint for making money with an online business.
1: Choose a great business idea, then start to build a website that attracts visitors.
Here’s a quick tip to come up with a great business idea:Combine one of your ideas/hobbies/skills to find something that you care about and figure out how that can be used to solve another person’s problem. Here’s what to do: Create a simple website for pennies using WordPress or Squarespace that advertises what you do, and/or the product you’re offering. You don’t need any web or tech skills to make this happen. Both resources have ready-to-install templates. You just need to know how to use the internet!
Use regular tools (like Facebook, Instagram, a blog, etc) to start driving people to your website. Nothing secret or tricky here. Just talk to your friends, family, and accessible networks and try to start solving their problems. Identify their pain points and then go about actively solving them. This will help you fine tune your idea.
Direct them to your site to pick up their free piece of value content that you’ve prepared for them. Which is the subject of Step 2…
2: Offer visitors something free in exchange for their email address.
Create free, helpful content and ask visitors for an email address in exchange.
For example, you could offer a free 15-minute consultation, a tutorial video, a downloadable checklist, an infographic, a guide or other types of free content depending on your business and industry. The list is literally endless.
Add these people to an email list and keep building that list over time. Slow but steady wins the race. You can create HUGE results with a very small email list. I know this because I was able to quit my job with a list of about 500 members.
I know what you’re thinking, so let me stress it again — you don’t have to be a “techie” or know any programming!! The website can be up and running in a day for less than $50. And you can use an email marketing solution like MailChimp to manage subscribers, send emails, and track results for free.
To get the last step and to read Daniel’s complete article make sure you visit www.entrepreneur.com/article/270751
Daniel did an excellent job of outlining how to get started with your online business. His steps will have you on your way to success in not time. Here’s another tip. After you get everything set up, you are going to need to get traffic and buyers to your content. After all, what’s the point of having a website if no one knows about it. This is where online marketing and search engine optimization will come in handy. Check out the best rva seo professionals for assistance on this top.
Check out this helpful video for more information…
image credit: Image courtesy of Stuart Miles at FreeDigitalPhotos.net
January 20, 2016
If you’re looking to be financially independent, you have two options. The first one is to look for another job, but it’s not a guarantee that you’ll like it. The second option is to start your own business, by doing something that you like and something that you are good at.
Many people fear that starting a business can take days, and that this can be very costly. There are a plenty of articles just like this, and it’s remarkable that you even clicked on any article link. The most of the online money making advice either doesn’t work or it’s not almost as easy as the ‘gurus’ speak it is. However, consider it or not, there is one method to make money online fast and you can begin earning in a few days or even earlier than that. To achieve this, you’ll require a high quality niche promotion package.
However, nearly all people that are probing for how to make money online don’t have extremely much money. That’s not to say that every Internet marketing hopefuls are bust, but several are. I’ve been there, so I recognize what it’s similar to. When you desire to get started making money online, it’s generally because you’re at the end of your lead and you want cash fast. Alternatively, you’re unwell of your day job and you wish for the freedom of working from house, or you just quit your job.
Whatever the grounds, you don’t need tons of cash to make money online. You only require a very small investment, which amounts equal to a bar tab, an eating-place check or a night out at the movies. As an alternative of paying for those things that you actually don’t want, put some cash into your future. You’ll be happy you did.
Starting a Work-From-Home Entrepreneurial Activity
If you in fact want to work from your home, you are required to be willing to invest in your business, even from the commencement. With a sole niche-advertising package, you can rapidly dominate any niche and an extremely short amount of time. However, what is a niche-advertising package?
A niche-advertising package enables an individual to start working from their home from day one. These packages are fundamentally businesses in a box. You just buy them and you’re competent to make capital from day one. The packages will comprise all the research, the perfect keywords, a squeeze page in order to gather email addresses, auto responder emails that you can forward to your subscribers, once they opt-in, and even articles and press releases to encourage the package once it’s live online.
If you locate the true outsourcing team, you will have the bullets to rapidly surpass the competition in any niche you wish for. You just tell the all team the niche you have in your mind and they’ll get to a job doing all the research, the design, the copywriting, the video production and coding that will facilitate them to spin a web of control that will wow your forecast and frighten your main competitors.
If you desire to learn how to easily make money online, you’re going to have to investigate your opposition. Your competitors have likely calculated their targeted audience, and they are familiar with precisely how to please that audience.
Study them if you can, gather more data about them and outsmart them. It’s important to implement the right marketing tips for growing your business and to overcome your competitors. This can be easily done with the help of web designers or those who are online marketing specialists. You’ll also be able to get plenty of tips from the online environment, so all you have to do now is start reading and learning those topics that are of interest to you.