Baby Boomers: Work Smart, Not Hard – Create Residual Income For Retirement
Attention all you Baby Boomers out there, getting ready to retire! As you have probably figured out by now, retirement isn’t looking particularly rosy for most of you right now. How financially prepared are you as you face your own retirement? Were you relying on the equity in your house to get you through? Did you lose a small fortune from your 401K when the stock market tanked? You have worked hard all of your lives. Isn’t it now time for you to work smart during your retirement? Enjoy the retirement you have earned, but supplement your income to get the most out of your retirement. Baby Boomers: work smart, not hard-create residual income for your retirement.You’ve probably all read the statistics about Baby Boomers who are perched on the edge of retirement:Approximately 36 percent of Americans state they haven’t contributed anything to their retirement savings.
Because “traditional” pension plans have disappeared over the past 30 years, only about 15 percent of all Baby Boomers have a pension.
According to one study, approximately 30 percent of Baby Boomers in their 60′s have over 80 percent of their 401K funds in equities. How much money did your 401K lose when the stock market tanked?
25 percent of Baby Boomers have stated that they have put off or postponed their retirement plans.
35 percent of Americans who are already of the age of 65 are relying on Social Security payments as their sole “retirement plan.”These are some scary statistics, so it may be time to start thinking outside the box when it comes to your retirement. Many people are looking into careers after retirement to supplement the income they currently have. But, how hard to you want to work during your “retirement years?” Baby Boomers, it’s time for you to work smart, not hard and create residual income for your retirement. What is residual or “passive” income? Residual, or passive income is a type of income that once it is in place, requires no further input from the person receiving that income. For example, rental income and online advertising revenue are both types of residual income. Sounds like the classic example of how to work smart, not hard!Now that you know what residual income is, you can begin to create residual income for your retirement. So what are the options? Well, if you have the ability, you can invest in properties, and become a landlord. But, this takes a huge chunk of money, that you probably don’t have right now. Since you are retiring, you’re going to have some time on your hands, so maybe you can write a best-selling book and just live off the royalties, or more practically, you could learn how to make money online. The trend toward making money online has exploded for a reason. There is so much money to be made online if you just know how to create your own money machine! Internet marketing is a great way to accomplish this. Baby Boomers, if you want to work smart, not hard you need to create residual income for your retirement, and working online can help you do exactly this.
Find Property to Rent – 15 Ways for Tenants to Spot a Fake Landlord!
Recent news reports of unscrupulous people taking over someone’s home and renting it out to either one or more tenants means that if you are a homeowner, a landlord or a tenant, you need to take precautions to avoid being scammed!If you are a prospective tenant hunting for a property, then it’s vital to follow our top 15 ways to spot a fake landlord BEFORE you hand over any money!To avoid having to ask these questions altogether, only rent from an ARLA or NALS registered letting agent that is also ideally a member of The Property Ombudsman Scheme. They are responsible for agents that have joined their organisations to abide by strict codes of conduct and this means that they are more likely to ensure a property is let legally, including ensuring the landlord owns the property and has, if required, the lender’s permission to rent it.Avoid a Fake Landlord BEFORE you view a property:-1. Check where the advert is from. If it’s from sites where landlord’s can advertise for free, or for less than 50, find out how the website vets the properties and landlords. If they do NO vetting be very cautious!2. Ask for the landlord’s full name and address and ideally a land line phone number. Be suspicious if they don’t give these details and only give an email address/mobile.3. Ask if the landlord is a member of any accreditation schemes eg NLA, RLA and/or a local authority scheme, check they are members.4. Confirm your appointment with them ideally on the land line number.5. For a small fee (around 4) check on-line at Land Registry that the landlord does own the property. Download the Title Register details which says who owns the property.How to SPOT a Fake Landlord when viewing a property:-6. Ask the landlord if you can see the Energy Performance Certificate. This is a document that tells you how much your utility bills will be (very important!) and is a legal requirement for most rental properties (except properties that aren’t let on a ‘self contained basis’, such as licensed HMOs and renting a room).7. When looking around the home ask what’s happened to the previous tenants and if you can have a reference from them.8. Ask to see the existing gas and any electrical safety certificates. If the previous tenants have just moved out, then the certificates should still be in date, or if they are just out of date, confirm with the gas/electricity company that they did the work for your landlord.9. Ask the landlord how much deposit they take, how it will be paid (eg cash/cheque/BACs) and which Tenancy Deposit Scheme it will be held in. It should be held in one of three schemes: My Deposits (custodial and safest scheme); Tenancy Dispute Service or My Deposits.(These are insurance schemes, so if your landlord/agent goes bust, runs off with the money as long as you have evidence it was paid to them you can get your money back.)Check on-line that they are a member of the scheme they say they are!10. Ask for a copy of the contract that you will need to sign on move in day, so you can get it checked beforehand.If the landlord can’t supply all or any of the paperwork mentioned above – DO NOT RENT FROM THEM!Avoid a Fake Landlord on Check in Day:-1. Never hand over any cash or wire the money until you have received the keys.2. Unless you are letting through a high street letting agent that is a member of NALS or ARLA (and the Property Ombudsman), don’t hand over your deposit unless you have actually gained access to the property.3. Make sure the landlord has done a full inventory. This is a document that lists all the things that are in the property and describes the quality of the decor. For example it might say ‘stain on the living room carpet, near the fireplace’ and ideally this statement would be backed up by a photograph. If there is no inventory, be very wary of renting the property without doing one yourself and taking lots of photos. If you don’t when it comes to asking for your deposit back, there might be a dispute as the landlord might take money off for a new carpet in the living room because of a stain that was there before you moved in!4. If there is no contract to sign and this contract has no mention of a tenancy deposit scheme where your deposit will be protected, do not sign! Check it with a specialist lettings legal company first.5. Check that the gas and electrical safety certificates are real and up to date.However much you ‘fall in love’ with a property, or however desperate you are to rent one, don’t cut the corners described above. If you do try to rent too quickly, you might miss that the place is freezing cold, despite having all the radiators on, a fake landlord might put you under pressure to secure the property via a deposit.
How To Know If Braided Cables Are The Best Option For Your Next Project
Anytime a project is spec’d out, there are a number of things have to be taken under consideration. While the type of project will dictate exactly what these ‘things’ are, if it’s an industrial or mechanical project, braided cables may indeed be something worth throwing in the mix as prospective supplies to be used.
Cabling, wiring, and the whole of a project’s electrical system bears major consideration since it governs how everything operates. Whether it’s a simple ‘on/off’ switch or a complication actuation of some kind specifically designed for a particular application, making sure the right materials are used in the electrical system is crucial for success.
The type of cable a project will use is determined by a lot. It may seem a little silly, but there are times when the use of braided cables is credited to its visual impact. However, that would criminally undermine the exhaustive work that is done by design & engineering teams on the part of the client and the chosen cable manufacturing partner to design the ideal braided cable for a project application.
However, the question still remains — how does one know if braided cables are best for an upcoming project? There are a few things to keep in mind:
Durability – Depending on the stresses that cabling will experience during use, a durable, more hardy cable type might be the best option. Hence, the use of a braided cable might be the way to go as it certainly provides this sturdiness. That said, there are other cable options out there with varying levels of durability that may be be better solutions.
Environmental Concerns – Will the cabling you need for your project be exposed to extreme temperatures? Is there an excess of dirt, dust, and other grime? Braided cables can provide incredible protection against these environmental issues.
EMI/RFI Protection – Disruption of signal integrity and maintenance of electrical devices starts with understanding how best to protect against electromagnetic interference (EMI) and radio frequency interference (RFI). Braided cables are a solid choice in helping ward off these particularly disruptive disturbances.
Space Considerations – While braided cables can provide a measure of strength and durability, it may not be the best when it comes to saving space. For companies looking to get a combination of performance and functionality from their cabling, another choice may be more suitable.
Cost/Budget – The great equalizer in all project material orders, knowing how far one’s budget can go will make a difference in terms of whether braided cables may be affordable for a given project. Based on the application, there may be another solution that provides a more budget-friendly option.
In the end, whether it’s braided cables or any other material being considered for a project, the most important thing to consider is what the application will be. Moreover, it’s important to remember to plan for optimal functionality today and for the future. Planning a major project for the present-day makes little sense as the speed of technology pushes industries to constantly be ready to adapt to change at a moment’s notice.
El Salvador Adopts BitCoin
El Salvador Adopts BitCoin copyright 2021, Steve Burgess
El Salvador just passed a law to make BitCoin (BTC) legal tender and is the first country to do so. It did something similar back in 2001, when it made the US Dollar the official currency, replacing the Salvadoran Colón (named after Christopher Columbus), which had been the official currency for more than a century.
What’s interesting is that the dollar was adopted because it was a stable currency. It was adopted in hopes of stabilizing El Salvador’s economy. While BitCoin is joining the dollar as legal currency, one would be hard-pressed to find a less stable financial platform. BTC is known for its wild fluctuations, although it also has had a dramatic upward climb in value during its just over a decade lifetime.
How did Salvadoran BTC adoption come about?
A few things came together. 70% of Salvadorans don’t use banks – whether through choice or through inaccessibility. Many in El Salvador get their income via remittances from family or friends in the US. In fact, 2.5 million Salvadorans live and work in the US and send $4.5 billion dollars in remittances to family and friends in the home country, but there are substantial fees and delays associated with getting that money home.
An essential part of the adoption story was born in El Zonte, a small Salvadoran tourist town. It was frequented by Mike Peterson, a surfer and owner of a small concessions business in San Diego, who spent considerable time in El Zonte with his family when his own business was in the off-season. An anonymous Bitcoin millionaire heard about charity work Peterson was doing in El Zonte and offered a gift of $100,000, paid in Bitcoin, for Peterson to distribute there.
Peterson worked with El Zonte locals to set up an organization called Bitcoin Beach in order to improve the financial fortunes of the locals while encouraging storekeepers, employers, and others there to accept Bitcoin as payment in this town that had never had a bank. Accessing a bank required a half day, but accessing an app on their phones was more or less immediate. Furthermore, an ATM was set up (again, the only one in town) that handles Bitcoin transactions.
Then came the Covid.
The country’s tourism industry collapsed and so did El Zonte’s local economy. Peterson started handing out about $35 to each of 500 of the town’s residents and won them over. Now about 90% of El Zonte’s inhabitants interact with BitCoin regularly.
El Salvador’s President Nayib Bukele, caught the BitCoin bug and found himself pushing his country’s legislature to pass a bill to make BitCoin a new coin of the realm – along with US dollars. A noteworthy line from the passed bill: “It is necessary to authorize the circulation of a digital currency whose value answers exclusively to free-market criteria, in order to increase national wealth for the benefit of the greatest number of inhabitants.”
By September, Salvadorans will be able use Bitcoin to buy goods and services from any Salvadoran business (with some exceptions for those that don’t have the capability) and to pay their taxes in Bitcoin.
Here we might wonder about the sustainability of a currency that requires so much power to generate. It’s estimated that the amount of electricity needed to generate one BitCoin is equivalent to about two months of the energy needs of the standard US household, or more than six months for a Salvadoran household. This in one of the first countries to establish recognition of natural forests as a living entity as a part of the Rights of Nature in El Salvador, signed by the country’s National Assembly.
Geothermal Power
Well, there’s an answer for that. President Bukele has announced the establishment of a clean geothermal power plant run by “100% clean, 100% renewable, 0 emissions energy from our volcanos.” Without burning coal or atoms, and without diverting rivers, the plan will be to establish BitCoin mining within the country run by the existing power of the Earth’s own heat generators.
While some are concerned that Bitcoin’s extreme volatility (you might say, volcanic) could dramatically harm El Salvador’s economy, Salvadoran lawmakers hope that this economic policy, along with cheap energy for cryptomining will attract investment and further provide previously unavailable financial resources for the 70% of Salvadorans who are unbanked.
Additionally, the design ought to facilitate remittances. Remittances provide about 20 percent of the country’s gross domestic product.
Because of Bitcoin’s ups and downs in value, President Bukele has announced that the country will provide a $150 million fund so that people can cash out their BTC for US dollars immediately. Some worry that will make El Salvador a safe haven for criminals hoping to launder their crypto there.
Chivo!
To promote the Salvadoran Bitcoin transformation, the government is setting up a Bitcoin digital wallet, called Chivo (“cool” in Salvadoran slang), with $30 for every Salvadoran citizen that uses it.
There are certainly some additional potential roadblocks, such as the fact that only about 45 percent of the population in El Salvador has internet access.
Will El Salvador overcome these potential problems to become a Bitcoin powerhouse. Will El Zonte be the birthplace of El Salvador successfully surfing a cryptocurrency wave, doing a 360 to a future that will pull many out of poverty? Or is it in for a rough ride, ultimately an economic wipeout? Time will tell.