nomad4ever

The U.S. Department of Labor released some tips, on how to prepare for your retirement. It doesn’t matter how old you are now; actually the younger you are – the better! Okay, some tips apply for US citizen only. Anyway, here they are:

written by Chris

1. Compound interest works in your favor. “The earlier you start, the less you have to save every month,” says Dallas Salisbury, president and CEO of the Employee Benefit Research Institute. “Start at 20, and set aside 15 percent of every dollar you earn, are gifted, or inherit, and you will be in good shape at retirement age. Wait until 40, and it will have to be 25 percent or more of every dollar earned. Wait until 50, and it will be 45 percent of every dollar earned.” The money you invest now still has lots of time to grow before you even think about retirement.

2. Matching is free money. “If you are in the younger generation, the chance that you will be covered by a defined benefit plan is less than the chance that your parents had,” says Andrew Eschtruth, associate director of external relations at Boston College’s Center for Retirement Research. But it is more likely that you will be given the opportunity to participate in a 401(k). You should make sure to put enough money into the 401(k) to receive the full employer match.

written by Chris

Advantages of Offshore Banking

1 Offshore banks provide access to politically and economically stable jurisdictions. This may be an advantage for those resident in areas where there is a risk of political turmoil who fear their assets may be frozen, seized or disappear. However, developed countries with regulated banking systems offer the same advantages in terms of stability.

2 Some offshore banks may operate with a lower cost base and can provide higher interest rates than the legal rate in the home country due to lower overheads and a lack of governement intervention. Advocates of offshore banking often characterise government regulation as a form of tax on domestic banks, reducing interest rates on deposits.

written by Chris

Travis Ryan Floyd @ MySpace published 50 Life Lessons. The list was originally created by Regina Brett for ‘The Plain Dealer’ in Cleveland, Ohio. It’s simply a great read and motivating like hell, even if you don’t believe in god, family or money.

1. Life isn’t fair, but it’s still good.

2. When in doubt, just take the next small step.

3. Life is too short to waste time hating anyone.

4. Don’t take yourself so seriously. No one else does.

5. Pay off your credit cards every month.

written by Chris

John Locke over there at ‘Strike the Root – a journal for liberty’ was so friendly and allowed me to re-publish his great article about ‘Ten lies we believe’; that means LIES, which society puts on us. LIES, we hear, inhale and suck down with our ‘mother’s milk’ in the societies we live in. LIES that tie us in and make us less and less flexible, mobile and free in our thinking.

written by Chris

Found some food for thought recently. I didn’t know that there is even a word for self-sustainability, independence and ‘live and let live’ philosophy:

Libertarianism is a political philosophy advocating that individuals should be free to do whatever they wish with their person or property, as long as they do not infringe on the same liberty of others.

There are two types of libertarians. One type holds as a fundamental maxim that all human interaction should be voluntary and consensual. They maintain that the initiation of force against another person or his property, with “force” meaning the use of physical force, the threat of it, or the commission of fraud against someone who has not initiated physical force, threat, or fraud, is a violation of that principle (many of these are individualist anarchists or anarcho-capitalists).

written by Chris

To achieve Financial Independence, you can’t just rely on making a lot of money fast. There is always 2 sides of the balance, so check your expenses too. Over time everyone develops habits, which can be sometimes contra-productive and hinder you on your way to Financial Independence. Habits are hard to beat, so remember some of Wallstreet Journal’s more important financial lessons:

• It’s hard to cut back. Once you’re used to a certain standard of living, it’s difficult to go back. So why not live on less?Don’t spend all your of your paycheck’s money at once, put it away and safe it! You might need it one day.

written by Chris

What is a PT?
PT – The Perpetual Traveler
Permanent Tourist, Prior Taxpayer = Perfect Thing!

written by Chris