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February 6, 2020

Why You Should Sell Your Crypto Currency

It was almost a decade ago when the market of crypto currency officially started as a tentative step to digital currencies. Through the years, bitcoin has seen an incredible surge in value and the crypto currency market grew bigger than ever before.

Although buying crypto is not an easy decision to make, this doesn’t have to be the case as far as selling it is concerned. The extremely volatile 50% market changes are common in just a day that it might make you wonder if it is really a good decision sell crypto currency.

Here are some of the reasons why you should sell your crypto.

You Already Reached Your Goal

One of the most basic trading principles is that for you to earn a profitable investment, you have to sell it for more than its purchase amount. You need to sell once the price reaches the highest point since the time you decided to purchase it. This is what you call your time high. Make sure that you set a target. Once the market reaches a specific high time, this is when you should consider selling. In many digital currency exchanges, stop loss alerts can be set up so you will know if you already achieved your goal for your investment.

Your Investment is Making You Anxious

There are many reasons why people worry a lot when it comes to crypto. Crypto currency charts sometimes seem like a toddler playing around with crayons. Prices can jump up and down, with the most unpredictable changes. These shifts can be a major source of stress and anxiety because you can never foresee the amount of your assets the next morning.

You will continue to wonder if you waited for too long or you traded at the wrong time. You panic then sell everything out of rage. Crypto currency trading isn’t something that faint hearted people should get into. If these scenarios sound like you, then, maybe you should finally sell your crypto currency before your anxiety gets the best of you.

You Found Greener Grass Somewhere Else

Did you stumble upon a new form of investment that truly spoke to you? When investing, it is important that you put your money in places where you believe good opportunities exist. There are many startups searching for ICOs and investors promising some great projects so you could look for other places for your crypto currency.

For all you know, this investment might be much better than your future crypto. Just make sure that you practice due diligence. Always research about the investment opportunity, look into the founders, the product, the market, and others. There are times when fake projects are made by people who are only waiting for the time that you give them your crypto currency to scam you. Never let this happen to you.

These are just some of the reasons why you should sell your crypto currency. Always use your better judgment to ensure that you don’t suffer from your dire consequences.

February 6, 2020

Why Should You Report Your Rental Income

It may sound straightforward and simple to report your rental income from your rental properties. However, this might not really be the case all the time. The definition of the IRS of rental income might be much broader than what property owners know. This is because of these misunderstandings that you might even up with more expenses than necessary if it doesn’t get covered by the IRS audit.

A Quick Definition of Rental Income

Rental income refers to any payment received for the occupation or use of your property. Aside from the usual rent payment, rental income may also include the following:

Amounts paid for lease cancellation – When the tenant pays a fee for lease cancellation, this amount will be considered as rent.
Advance rent – It pertains to any amount that is received prior to the rental period that it covers.
Expenses paid by the tenant – When the tenant pays any expenses, like the bill for garbage removal even if the tenant is not required to do so as stated in the lease, these payments are considered income. You can deduct any expenses paid in your behalf.
Services or property – If you receive services or property as rent instead of money, the services or property’s fair market value will be considered as rental income. If services have been provided at the specified or agreed upon price, this price will generally represent the services’ fair market value.

Any of these described rents should be added to your rental income in the particular year when you receive it, whatever accounting method you use or no matter the period that the rent covers.

How to Record Security Deposits

Security deposits should never be added to your income if you still need to return it when the lease ends.

Damaged property – If you keep all or part of the security deposit since the tenant damaged your property and there are repairs that should be made, you have to deduct the amount of repair expenses by the amount of deposit retained in order to cover these expenses.
Breached lease – If you will keep a certain amount of the deposit since the tenant breached the lease, you need to include this amount in your income for that year when the lease got broken.
Final month rent – In case you have plans to use the security deposit as the final month rent of the tenant, you need to include this money as income upon receiving it as opposed to applying this to the rent for the previous month. This amount is what you can consider as advance rent.

Seek Professional Advice

It is easy to see that there are a lot of twists and turns involved on how you should be reporting your rental income for the purpose of taxes. This is the reason why it is always best that you seek the advice of a professional tax advisor. This is the best way to make sure that your rental income is reported properly so you can avoid any penalties for underreporting and keep yourself safe from incurring interest.

February 6, 2020February 6, 2020

Top Five Successful Habits of a Millionaire

Millionaires don’t happen overnight. They didn’t get there by pure luck or a mere accident. Amassing wealth is requires dedication, hard work, and the most important is nurturing habits that will foster success and prosperity.

If you want to emulate the most popular millionaires of the world, it is time for you to start practicing these top five successful habits of the wealthy and affluent:

The Habit of Reading

One of the best kept-secrets of millionaires in getting to where they are right now lies in their constant and unending desire to grow and learn. For these people, biographies and leadership books are more important than gossips and TV shows. They use their free time wisely to read and expand their knowledge base.

The Habit of Delayed Gratification

Millionaires spend many days of their lives saying “no” to temporary pleasures to enjoy longer term success. They live in modest neighborhoods, wear inexpensive clothes, and drive older or used cars. They don’t keep up with the trends or the hottest items.

These decisions are the reasons why they can do things such as save for college and retirement and building a large down payment they can use for their dream house. Millionaires realize and understand that while it is fun to have instant gratification, better things await them with delayed gratification. Their sacrifices today pave way for their success tomorrow.

The Habit of Avoiding Debt

Among the biggest myths right now is that average millionaires consider debt as tool. But, this is far from the truth. If there is something they want that they cannot afford yet, they save then pay it in cash later.

Their vocabulary doesn’t include student loans, same as cash financing plans, or car payments. They always win with their money. There are no bank debts and they use every earned dollar for expenses, savings, and giving.

The Habit of Budgeting

Your budget is the plan for your finances. Without a good plan, you cannot expect to earn a net worth of million dollars. Again, success doesn’t happen at once. Building your wealth is something that lies in your hands.

Just as how you start building a house with a foundation, wealth building also starts with the basics of budgeting. You then need to follow them. As you make lots of money, you also continue managing it properly.

Average millionaires make it their habit to budget on a monthly basis. They know what comes in and leaves of their bank account.

The Habit of Giving

The real millionaires are those who don’t make it obvious that they are wealthy but are always giving back to others every time they get the chance. These millionaires save, work hard and respect other people’s ability of doing the same.

From charitable donations, to tithing at church, or just giving to their family and friends, these people are known for their generous spirits. They believe that the best thing you can ever do with their health is none other hand helping other people.

Nurture these habits and for all you know, you might become the next millionaire sooner than later.

February 6, 2020February 6, 2020

Five Tech Stocks to Own in 2020

Tech stocks are the hottest trends in the market when the 21^st century came. This 2020, expect that their demand will continue to be on the rise.

Gone are the days when tech stocks are avoided because of their high risks despite their high rewards. As technology has now improved a lot, tech stocks have become more in demand, thanks to their decent yields.

If you want to tap into the world of tech stocks, here are some options you can consider adding to your investment portfolio?

Microsoft Corp.

One of the world’s first ever trillion-dollar companies, Microsoft still enjoys the same long term benefits that made back in the 90s. This powerhouse name remains to be among the top tech stocks you can buy and own in 2020, about 25 years after Windows 95 got introduced to personal computers. This is a solid proof that Microsoft has an undeniable longevity. The upgrade cycle of Windows allows guaranteed constant revenue combined with the wise decision of turning Microsoft Office into a subscription product based on the cloud.

Adobe

Adobe, the application software giant, is yet another tech stock that you can consider buying. The company is still seeing a long term advantage, thanks to its suite of some of the most iconic creativity apps including Photoshop, Premiere, Acrobat, Illustrator, and InDesign. It is no doubt a must-have software for a lot of professionals and industries and the company’s cloud based SaaS model helps bring a high margin constant revenue, the ultimate dream of every investor.

Dell Technologies

Yet another popular business introduced during the 1990s that pioneered the mainstream journey of personal computers, Dell, after much evolution and diversification, has become attractive enough to be among the top tech stocks to own in 2020. The company is no longer just about computers alone as this now has its tentacles in storage, servers, the cloud, and data center, a diversified portfolio composed of business units that are enjoying a modest growth. The commercial PC business picked up steam not too long ago making it a must-add stock to any portfolio.

AT&T

AT&T, the media and communications giant, might not be growing as big as Microsoft or Adobe but it doesn’t mean that it isn’t a good tech stock to consider. The company boasts of over 100 million customers across the United States that are paying for their broadband, mobile, and TV services. Bringing a relative stability, it is expected that AT&T will have a free cash flow worth $28 billion in 2020.

Facebook

As one of the few tech names included in the list by US News of the best stocks to own in 2020, Facebook definitely deserves a spot as one of the best tech stocks you can buy this 2020. This trades 32 times earnings, reasonable enough for a company expected to grow up to 42% of profits this year. Even though the social media giant is already boasting of around 2.5 billion active users every month, this figure is still growing by around 8% every year.

These are the top 5 tech stocks to own this 2020 that will surely diversify your portfolio in many ways.

November 9, 2019

How to Save $500

If you consider saving money as something daunting, then, you are definitely not alone. In fact, for many people, the mere thought of saving is more than enough to make them run away. Learning how to save $500 may be a bit challenging especially if this is the first time you will try to save.

However, even if it is difficult, you need to know how to save. This is something you should do not only for yourself but also for the people around you.

Read these simple tips for saving your first $500.

Open Your Own Savings Account

If you don’t have your own savings account yet, now is the time to open one. Saving $500 can be difficult if you don’t even save it somewhere safe and secure. Among the most common excuses of people when asked why they don’t open their own savings account is because they think they can just restrain themselves and have some money left in their checking account. What they don’t realize is how difficult it is not to spend the cash you left in your checking account. This is why opening an account meant for your savings is a better and wiser decision.

Plan Your Budget and Set Aside at Least $10 a Month for Your Savings

Once you opened a savings account, it is time for you to start putting money into it. Even if you live paycheck to paycheck, discipline yourself into cutting a minimum of $10 a month from your budget and set it aside for your savings. To do this, list down your expenses and ask yourself if these are necessary. You might be skeptical how a small amount like $10 can boost your savings but this meager amount can actually make a big difference. By setting a budget and listing your expenses, you will soon discover that you are wasting your money every month on things you don’t even need and use.

Launch an Online Business

Is there is a hobby you love to do? Then, why not make it an income-generating venture. Saving $500 will only be possible if you are earning money in the first place. Doing this might be a bit difficult if you live from paycheck to paycheck. Earning more money means saving more. With the help of the internet, it is now easier to make money and earn even at the comforts of your home. Start your own online business that will give you an extra flow of cash. The money you earn from this business can be put into your savings account. Little by little, your money will grow and reach your $500 goal without knowing it.

Save the Day with a Savings Challenge

If you are really serious about saving $500, why not start a savings challenge? There are many challenges found online that can help people who find it hard to save money. Choose a challenge that best suits you and get started right away.

Now that you know how to save $500, don’t waste your time and start saving today!

November 9, 2019

How to Flip Cars on Craigslist

Cars are one of the biggest investments you can make in your life. Almost all households have their own cars. They rely on their cars when traveling to work, going on trips, and engaging in other activities. If you are a big fan of cars and you consider them as potential ways to earn some cars, learning how to flip cars on Craigslist is a fun venture you can try.

Flipping cars refers to the art of purchasing used cars at extremely low prices then selling them right away for a profit. If you want to successfully flip cars, there are several things you have to know to become a savvy flipper.

Finding Cars to Flip on Craigslist

If you want to flip cars within the range of $1,500 to $4,000, Craigslist is the perfect place to do all the selling and buying. Why? The answer is simple. Other places tend to charge people who want to have their cars listed for sale. But, this is not the case with Craigslist. Obviously, if the listings are completely free, you are going to see a large car inventory on Craigslist being offered for sale for less than $4,000.

One more advantage of flipping cars on Craigslist is that most people who sell on the platform are not too tech-savvy. They also don’t know other services. This is something that you can use to your advantage.

To start flipping cars on Craigslist, just go to the website, look for your city, and go to the section labeled “cars+trucks” under the category labeled “for sale.”

There are several options you can choose during your search for cars that you can flip. First off, you can check the section By-Owner Only since the last thing you want is dealing with dealers. Sadly, there are several shady dealers who still manage to hide their listings under the By-Owner Only section. Next, check on the Search Titles only section since there are sellers who include numerous tags, resulting in bad searches. Finally, you can sort according to the lowest price.

Flipping Cars on Craigslist

Car flipping is similar to flipping websites. When you flip a website, you will buy a site for a lower cost and add some value to the site. You will then sell this for 8 to 10 times higher than the original buying price.

The same thing applies to car flipping.

You will buy an old car or you can sell your old one for an extremely lower price. You then invest some cash to spruce up the car and sell this for a 25% to 35% profit.

Car flipping is basically a business model where you buy low and sell high.

Simply put, the whole process of car flipping is divided into three stages:

Buy a car at a reasonably lower price.
Spruce the car up to increase its value.
Sell the spruced up car for a higher price.

You see, flipping cars in Craigslist is easy. Do you think you are up for this venture?

November 9, 2019

Five Ways to Build Lasting Relationships

Relationships that are meaningful and benefit both parties can pave the way to exciting opportunities and better growth. Your professional and personal growth, your business, and your life as a whole are all about relationships.

How do you build lasting and strong relationships in the first place? Here are some ways you can try.

Give Without Expectations of Getting Something in Return

This timeless advice is the number one best-kept secret for building relationships and leaving a positive impact on other people. Every time you meet with someone, show and don’t just tell that person what you can and will do for them. If your goal is to make someone experience significant value, don’t hesitate to give exactly that to them and while doing so, always do it with the highest level of impact possible.

Identify a Common Ground and Use This to Grow Together

Who you are today is the amalgamation of who you were in the past. Ways you identify yourself, impactful moments, and connections are all formed from your past experiences. Look for a common ground you share with a person and leverage these similarities to grow together. It doesn’t matter if this common bond is something as simple as sharing the same school. As long as you know how to make the most out of this bond, you can expect that both of you will soon open up to each other.

Show Your Genuine Care to the Other Person

Letting people know that you care for them genuinely can go a long way. How do you show your care, you ask? Well, it is simple. Ask questions. Try to get to know them better. Know their likes and dislikes. Know their beliefs. When you are inquisitive and curious, your passion and enthusiasm show. Your best parts show and the person will see right through you.

Keep an Eye Out for New Opportunities and Ideas

Make it your skill to know how to read between the lines. You can never predict what you will hear. A simple meeting while looking for a job could very well lead to a new idea that will help you form the true mission and purpose of your life. Always be ready to grab opportunities. Be open-minded. Stick to your values and live by them.

Meet More People

There is always someone you can meet. What could seem like a trivial meeting may actually hold the secret to flourishing future relationships. There is no way for you to know who you will bump into and what that person can do to your life. But, if you want your relationships to be longer-lasting, never miss out on the chance to meet new faces because for all you know, you may change the life of that one person or the person may change your life. Either way, it is always a win-win situation for both of you.

These are just five ways to build lasting relationships that you will treasure for the rest of your life.

November 9, 2019

Five Investments You Can Make on Yourself

The year is about to change again before you know it. If you want both your career and your whole life to become better, this is the perfect time to start investing in yourself. Investing in yourself, your image, and your skills can increase your overall value.

Don’t worry if you don’t have tons of cash stashed away. There are five investments you can make on yourself that won’t require you to break the bank. In fact, these smallest investments can make big and significant differences in your life.

Pay Attention to Your Body

Many people’s fitness goals usually come and go after the New Year. However, if you really want to be successful, you have to commit to eating healthily and exercising. For you to become more effective in what you do, you will need stamina, clarity, and energy, and exercise can boost all of these. Whether it is running, enrolling at a gym membership or something as simple as taking a quick stroll at the local park, exercising is an absolute must.

Start Investing in Your Professional Image

Splurging on a pair of killer pumps makes perfect sense for your image as it tells people how they should address you. You can also make other people see you as a serious player if you invest in a quality suit or dress and quality shoes. No matter what the key piece might be, always choose this depending on what is suitable for your office environment. Make sure that the piece also reflects your unique personality. Go for something that boosts your confidence every time you wear it. Looking good makes you feel good and as a result, you also give a good performance.

Read, Read, and Read More

If you haven’t picked up a book for ages, now is the right time to start turning those pages. For a very cheap price, books can give you that much-needed boost. Aside from self-help tutorials, you can also subscribe to audiobook services for you to have new information with you even if you are on the go, such as when you are hitting the gym. You can also attend workshops every weekend. Information that provokes your thoughts will empower you to create a mentality upgrade for better success.

Study with Your Grammar Coach

In case you don’t know it, grammar coaches exist. These professionals can help you with everything, from social media posts to your emails. Since most interactions happen over the email, the quality of the words you use is crucial to create a positive impression. Your grammar coach is going to remind you of those long-forgotten rules to refresh your memory.

Make the Most Out of Your 401(k) Plan

It is a good investment for your future itself as this is practically free money for you. You don’t get lots of opportunities where someone else will willingly invest their own money for your future. Having said this, you might want to try investing the whole amount your employer is going to match. Even though they might not be able to reach the whole match yet, each dollar counts as far as your retirement is concerned.

November 9, 2019

When Should You Move Out of Your Parent’s House?

When Should You Move Out of Your Parent's House?

As long as your parents don’t kick you out, it is easy to fall into the habit of not worrying about paying your bills and such. But, no matter how much you try to avoid it, there will come a time when you will have to move out of your parent’s home.

When is really the right time for you to leave the nest, then?

Going Out is Your Favorite Hobby

You love to go out 3 to 4 nights every week and this is starting to drive your parents mad. This is the reason why college was invented in the first place. Once you reach 18 years old, you have to learn how to keep your family and social life separate to benefit you and everyone around you.

Commute to the Office Eats Up Most of Your Time

Does your commute to work take a couple of hours both ways? No matter how much you try to look at things positively, it will soon burn you out big time. If your parents’ home is hours away from work, looking for a place closer to the office will not only help cut down on the time spent on the commute as it also ensures that you won’t miss going out. Now, that’s what you call a win-win situation.

You Always Get Asked to Play by Your Young Neighbors

Not everyone has the luxury of time to play with kids and if this sounds like you, then, it might be best to stay away from those incessant requests by moving out.

You Feel Awkward Bringing Your Special Someone Home

Dating can be a serious mess if you are living under your parents’ wings. What will you do if your date suddenly asks to come home with you? What if your significant other dozes off on the couch during a Netflix marathon? Anyone more than 21 years old knows that asking such questions is out of the equation.

You Still Have a Curfew

Most parents don’t say it but they continue to worry and think about you long after you finish college. Once they know that you went out, they want to ensure that you will get home safe and sound. Sometimes, it can mean telling you to come home before their bedtime. You cannot blame them for this kind of care but if you no longer want to be treated as if you are a 17-year-old, you can start planning to move out.

Doing Your Own Laundry isn’t Your Cup of Tea

It is important for adults to know how to do their own laundry. Removing those stains from your favorite shirt and washing your socks properly are tasks that you need to master, whether you like it or not. When you move out of your parents’ home, you will be left with no choice but to learn how to do these tasks because mom or dad won’t be there to do the laundry for you.

These are just some of the telltale signs that will let you know that it is time to move out of your parents’ house.

November 9, 2019

When Should You Buy Life Insurance?

Your priorities change with every new phase of your life. What used to matter to you when you were still an adolescent may no longer be important once you become a spouse, a parent, or even a grandparent. As your needs change, your life insurance requirements also change.

This is the reason why your current stage of life and not only your age usually indicates your personal needs for life insurance.

So, when should you really buy life insurance?

Below are several life stages that could generate the need for you to purchase life insurance:

When You Decide to Buy a Home

Your house is where you create the most precious moments and memories. Once you pass away, you want to make sure that your family and loved ones will be able to stay in the house you built and shared together. Life insurance can come in handy at this point.

A life insurance policy has a benefit amount that can be used to pay off the mortgage so that your family members can keep the house without getting into debt.

When You Get Engaged or When You are Already Married

Once you get married, it means you have to learn how to share almost everything from mundane tasks to the most complicated responsibilities. It also means you will have to share the financial responsibilities of managing a household.

As most households depend on dual incomes just to survive, it has become more critical than ever to make sure that the husband and wife both have life insurance policies. This coverage will help replace any lost income in case something happens to any of the two parties.

Life insurance is also something that stay-at-home parents should consider. They offer invaluable services like household management and childcare. In the absence of a stay-at-home parent, life insurance will cover the price of outside help when needed.

When Having Children

One of the most rewarding experiences you can ever have in your life is raising your own child but at the same time, this is also among the most expensive. If ever something happens to you, a life insurance policy will help cover daily expenses associated with raising a child, including food, clothing, diapers, and long-term expenses like college education.

When You Enter Your Retirement Years

Your golden years are the perfect time for you to enjoy all those activities and hobbies you like and love the most like fishing, traveling, or spending time with the grandkids. Your to-do list shouldn’t include worrying about how your spouse is going to cover your bills once you pass away.

As the average life expectancy reaches 78.8 years, it is a must to consider that your other half may outlive you and require financial support when you are no longer with them.

Life insurance definitely helps to cover any lost income from your pension. This also helps offset costs like medical bills or final expenses for your loved ones to maintain the life quality you worked hard for years to build together.