Self Improvement Basics

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Self improvement and success go hand in hand


How do you know if a person is willing to attain self improvement? This is a question with no definite answer. It will all depend on the individual.

Many people have goals, dreams or ambitions but do not know how to go about achieving them. They may have thought about what would make up self improvement and their ideal life, but have no idea how to even begin to make the plans and take the actions required to make them a reality.

Some people have a vague idea on how to go about self improvement. These are the ones that believe that if only they had a better job, or had been given better opportunities, or met the love of their life, or whatever else, everything would be fine and they would be happy.

They feel that their happiness or lack of happiness is decided by external factors and their thoughts and actions are of little consequence.

Some believe that if only they had more money they could have whatever they want and be on their way to self improvement.

They may have spent little time thinking about what they actually want from life, and do not really believe there is anything they can do to create their fuzzy version of utopia anyway, apart from buying more lottery tickets.

Other people do not even know what they actually want from their lives and may even have little idea what would really makes them happy. They seem to just drift from day to day, week to week, month to month, and year to year, and do little more than just about get by.

They may have seemingly secure jobs and be earning enough to live relatively comfortable lives. They seem happy enough and have no great ambition to achieve anything more from their lives than they currently have.

Is self improvement important?

The reality is that throughout our lives we are all constantly growing and developing. Circumstances make us grow and develop, even if we do not make the conscious decision to do so.

Up to a certain age, we learn through formal education and we continue to learn through our experiences for the rest of our lives. We have to learn and grow to deal with everything that life throws at us. We all have to go through self improvement.

Modern life moves at a dramatically faster pace than at anytime in history. For anyone living in modern society there are more opportunities to do anything that you want to do with your life than ever before.

But there is also more competition than ever before, and ever changing technology means that there really are few, if any ‘jobs for life’ anymore. It is now normal not only to change jobs quite often throughout our working lives, but even to completely change careers and industries.

Because the workplace is so competitive, people who are ambitious and hungry for success know they need to learn new skills and knowledge to keep ahead of the pack. To attain this, self improvement is needed.

These are the people that will be most likely to keep their jobs, or progress within their chosen field, or that will be readily employable in different organizations or industries.

A commitment to self improvement and personal growth may well be the deciding factor in how anyone’s future will turn out.

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Income Tax Planning

Income Tax Planning

Income Tax Planning is a part of the whole process of financial planning. It is essential not only for financial planners, but also for everyone to have a good understanding of how income tax works. There are many different types of income and expenses that have to be determined properly in order for income tax to be estimated. Government of Canada collects taxes on personal income to cover the costs of the services provided by the Government. The Government uses the tax system to achieve different social and economic goals.

Everyone needs to know how to fill out a tax form for his/her personal income.

The tax form consists of several parts:

Ø Identification

Ø Goods and Services Tax Credit Application

Ø Total Income

Ø Net Income

Ø Taxable Income

Ø Non-refundable Tax Credits

Ø Refund or Balance Owing

Ø Provincial Income Tax

Identification gives information about the individual, whose income is a subject to tax. It also gives information about some personal data, (i.e. address and marital status).

Goods and Services Tax Credit applies to all individuals who were residents of Canada at the end of the year. GST Credit can be claimed for the spouse and every child less than 19 years of age if not married.

The Total Income includes every income an individual received through the year. The total income is the sum of employment income, commissions, other employment income, old age security, different types of benefits, taxable amounts of benefits, interests and other investment income, net partnership income, rental income, taxable capital gains, RRSP income and etc. Every type of income has specific features that should be known and understood properly. The aim of the financial planner is to consider the different types of income, create deductions, and tax credits to reduce the total income tax that has to be paid.

Net Income is the difference between the total income and the adjustment amounts from Registered Pension Plans, RRSPs, annual union dues, child care expenses, moving expenses, etc.

Taxable income is the difference between the net income and various tax deductions. Tax deductions are amounts that are not subject to tax. The process of financial planning is most powerful at this stage of income tax planning.

Non-Refundable Tax Credits are amounts that are deducted from the income tax, but they are not payable if the non-refundable tax credit exceeds the tax. There is a basic personal amount of $7634 for 2001 that is not taxable. A spousal amount to a maximum of $6140 can also be added to the personal amount if the spouse’s net income is less than the base amount. CPP contributions and EI premiums are also included in the non-refundable deductions. Tuition fees paid by the person or his/her children or grandchildren for attending a university, college, or other educational institution in Canada can be deducted as well. Additional education amounts (different for full time and part time students) are available as deductions. If the tuition fees and educational amounts cannot be used by the student it can be transferred to a spouse, parents, or grandparents. Medical expenses to a specified amount can also be claimed as a deduction. The consideration of non-refundable tax credits allows the financial planner to structure the payable taxes payable in a way to reduce them.

Refund or Balance Owing is the final result from the income tax estimation. It is either the tax that has to be paid to the Government or the money that has to be refunded to the individual. It is not uncommon for an individual to overpay the CPP or the EI. In an event like that Canada Customs and Revenue Agency will refund the amount or reduce the owing balance.

Provincial Income Tax differs for different provinces. It has recently been changed for many provinces. Instead of applying a single provincial tax rate to the basic federal tax, the Government allows some provinces to levy provincial income tax as tax on income. The tax on income is applied directly on the taxable income rather than as a portion of the basic federal tax.

The purpose of Tax planning is to provide basic understanding of the Canadian Income Tax System and possible ways to reduce the taxes on the personal income.

What is Inflation?

What is Inflation?

That is a good question and one that unfortunately there has not been an answer that everyone agrees upon. The term is a general description of the decreasing value of a unit of money over time. Therefore if you were to have 5 dollars now and went out and buried it and left it there for fifty years you would not have as much purchasing power with that 5 dollars that you had back when you buried it.

This is what scares lots of people into investing. You see in order to beat inflation and actually have something of their retirement savings when they need it most they will have to beat the rate of inflation with their money. One of the only ways to do this is to is to invest at a rate that beats the rate of inflation. This is often more than the rate that a typical savings account will get you even when you take into account the concept of compounding interest.

So what determines inflation? It can either be described as the increasing prices for goods or services as measured by the consumer price index. Or it can be viewed in terms of the overall increase in the supply of money. This is often created by the government printing more money in order to meet the demands of a larger and larger (more global) demand for US dollars (for example). The government prints and ships this out to the world in order to better meet the demand and stop prices from falling.

Who else, other than the government, has the power to change the rate of inflation? Well who else would it be other than the federal reserve. The federal reserve is a consortium of some of the top banks in our country who serve as a committee that decides where to set interest rates in order to enhance the economy and prevent recession. Lowering interest rates tends to promote buying and selling of goods and services on credit or loan. Increasing the interest rates on the other hand promotes the savings of dollars in the bank and is a sign of a stronger economy when this all happens.

So what is the moral of the story? Well invest to beat the effects of inflation for one thing. And secondly don’t get bent out of shape by the increasing prices that are just a fact of life. No one can explain them and eventually they will probably be reset lower and that will be like the “fall back” of daylight savings terminology.

About the Author:Financial consultant Julee Mitchelsin thanks you kindly for reading her article on inflation. If you have more questions check out www.findinflation.info

Top Ten Investment Strategy Mistakes

Top Ten Investment Strategy Mistakes!

10. Not having a goal for your investment strategy. Retirement, buying a house, education all have different investment strategies that you can implement - so you need to know what your goal is before planning your investment strategy.

9. Short sighted investment strategy. Many people have a long term goal, but then look at their investments as if they are needed short term. If you have the right investment strategy, what happens now is not as important as when you actually need the money.

8. Jumping in to quick. To have a proper investment strategy, you need to do your work and do some learning. Picking the right Financial Advisor is important!

7. Thinking that it is easy. A good investment strategy takes work and the right advice. If it were easy, everyone would be rich. Realize that even the best investment strategy won't make you a millionaire over night.

6. Picking too much of one investment. A good investment strategy will offer the proper amount of diversification. By having a good investment strategy you will be able to maintain returns and lower your risk. But be aware not to over diversify, or you may hinder your returns.

Stay tuned for the last 5 investment strategy mistakes!

Investment Strategy - Retirement plan article

Here is an article that summarizes some great investment strategy ideas. For all your investment strategy planning keep checking back as we always keep you informed!

Stock Market Retirement Investment Plan

For a successful retirement investment plan to work in the stock market, some ‘reasonably sure’ assumptions would have to be made:

The retirement investment plan must take into consideration the one prevailing constant in any stock market security – risk and uncertainty. Understanding that risk and uncertainty are the key factors that propels the return on investment in the stock market far beyond the returns of Passbook Savings Accounts, CD’s or Bonds are a start. The plan’s key factor would be to use the risk and uncertainty of a stock market security to its advantage.

The retirement investment plan should be founded on the belief that no one can successfully retire without financial freedom. Therefore, the retirement investment plan’s main role would be to supply you with income during your retirement years, while also taking into consideration the risk of inflation. This should be accomplished without having to touch the principle.

The retirement investment plan would require discipline to accomplish its goal. The goal should be clear and specific, and the discipline necessary to accomplish the goal, just as clear and specific. Also, the retirement plan should not be financially out-of-reach, allowing as little as 100 dollars to begin, with as little as 10 dollars a quarter to continue.

The retirement investment plan’s return on investment should be aimed toward providing income, and the income from the holdings in the plan should accelerate every week of the year, until retirement. This should be the case, no matter what the price of the security at any given time in the market place.

The retirement investment plan should be proven to you. Once proven, you must have the confidence in yourself to carry the plan forward. This do-it-yourself confidence means that the retirement plan’s ROI benefits only you and your family and no one else. A no-fee plan enhances the return on investment, allowing every cent put into the plan to work for you.

Companies owned in the retirement investment plan should have a historical record of raising their dividend every year. Therefore, a future dividend increase for the 10th or the 35th consecutive year in a row can be ‘reasonably sure.’ The guide for the selection of each security is its historical performance of rising dividends every year.

To receive the best return in the retirement investment plan, all companies in the plan would be purchased commission-free. All dividends from the companies would purchase more shares of each company commission-free. Therefore, every cent earned in ever-increasing cash dividends every quarter and any extra cash put into the retirement plan would work toward increasing the cash dividend.

Why bother beginning a retirement plan is best expressed, in my opinion, by a quote by Charles Kettering:

“I expect to spend the rest of my life in the future, so I want to be reasonably sure of what kind of future it’s going to be. That is my reason for planning.”

To read the PREFACE from the book ‘The Stockopoly Plan – Investing for Retirement’ visit http://www.thestockopolyplan.com

Charles M. O’Melia is an individual investor with almost 40 years of experience and passion for the stock market. The author of the book The Stockopoly Plan – Investing for Retirement; published by American-Book Publishing. The book can be purchased at http://www.pdbookstore.com/comfiles/pages/CharlesMOMelia.shtml

Investment Strategy

Investment Strategy

There are many ways to diversify your investment strategy. If you go deeper into how the investment world works you realize you realize the investment world is divided into owners (those who invest in equities or stocks) and loaners (those who invest in debt or bonds). The owners are the most common group and the ones that most people think of when they look for an investment strategy. This is the most widely accessible way of investing in securities.

Individual investors become owners of publicly traded company by purchasing the stock in that company. They can then participate in the growth of that company over time which will give them a return on their investment (a good investment strategy is to pick good companies).

But how do you know what investment (i.e. Company) to put your hard earned money in. Which company will grow, and which will go bankrupt? Well believe it or not - and most experts will not tell you this - there is reliable systems to know where to put your money. The right investment strategy can be found, but you have to know where to look, and most of all-HOW TO LOOK!

Look, vast wealth is NOT for everyone. Real Money takes some doing. Keeping it takes even more doing and continuing to keep making it is hard work. Most people go through lucky streaks in their lives. But intentionally bringing in large amounts of cash flowing on a regular basis is a learned skill and you need the proper investment strategy. To choose the proper investment security you need to learn about levels of risk!

Also investment strategies takes into account price to earning, income, balance sheet profits, taxes before earning and many other complex ideas. We want to help you cut through all that clutter - and give you the advice you really need! What will make you the long term wealth you need and want!

Why do you want to buy an stock. Is it just to say that you own a stock - a part of a company! No! The reason is you want to make money - earn wealth - then preserve and increase that wealth over your lifetime. Just picking a couple wrong investments in the securities market could set you back years! Don't take chances - learn how the experts do it. Learn from an expert - about dividends, stock splits, warrants, puts, options, etc. We will guide you through the process of knowing what you need to know to have the right investment strategy in place!

Live long and prosper - which means having a plan in place!

Investment Strategy

Investment Strategy Links

Investment Strategy Related Links

Great information about Investment Securities can be found at the Investment Securities Blog.
Another good source of Investment advice is the Investment Management Blog.

Financial View is a great website for Financial and Investment information!

Investment Strategies

Welcome to the Investment Strategies Blog. Learning about Investment Strategies that can increase your investment is our Strategy!