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5 Investing Tips for Millennials

5 Investing Tips for Millennials

If you were born between the early 1980s and late 1990s, you’re a millennial. And if you’re a millennial, odds are you aren’t investing your money in the stock market.

According to the recent poll 76 percent of millennial women found investing confusing, and 60 percent believe the typical investor is an old, white man. About half of millennial men agreed. As a young adult, you’ve seen a lot of negative press about Wall Street and investors losing their money during market crashes. It can be scary. It can also be daunting to start investing if you’re uninformed about how to get started.

Before you begin investing, you should arm yourself with knowledge of what you can do, how to get started, and how much money you could earn with a long-term investment.

Tip 1: Pay off Those Credit Cards

Unless you have impeccable credit, you’re likely paying interest rates as high as 24 percent on your credit card debt. A good plan is to pay the minimum on your lowest-interest cards and sink your money into the card with the highest interest and get it paid off.

Tip 2: Ditch Your Savings Account

It’s important to keep an emergency fund.

Tip 3: Take a Risk

The benefit of being a millennial is that you’re young and you can afford to make a risky investment. If it all comes crashing down, you’ll be OK. The older you get, the harder it is to justify a big risk, because you’re closing in on retirement and you need that money. On the other side, those  risks in stocks can also potentially make you a lot of money in dividends, which you can continue to invest and make more and more money.

Tip 4: Just Start Investing Already

You can start with only $5. Granted, you won’t make a fortune with micro-investing, but it isn’t a huge risk to just get started.

Tip 5: Never Stop Learning

The best course of action for anyone who wants to start investing is to learn everything you can about investing. You can start with a couple of websites that are chock-full of investment information, such as Investopedia.

 

 

 

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Family Insurance

Family Insurance

If we have individual health insurance plan, the policy is issued in the name of the individual policyholder. So, if we need all our family members to get the coverage, then we have to get different health insurance policies issued in the name of our individual family member. The number of policies issued must be equal to the number of persons in our family. This ensures that everybody will have a dedicated sum assured under their respective health insurance policies.

On the other hand, the case of a family health plan is different. The insurance policy is issued to the entire family as a whole and the sum assured is be a single one for all, which however is unlike in the case of an individual health plan.

An individual health plan for each family member certainly costs more as compared to a family health plan. Despite the cost, there are certain drawbacks of family health plans due to which individual health plans are recommended over floater plans.

Individual health plans are offered to individuals, where age is one key point in the criteria for issuing a policy. The policy is issued to an individual while taking into consideration his/her age in view and the premium will be determined based on his/her age. In contrast, in case of a family floater plan, the age of the senior most family member is recorded and the policy is issued accordingly.

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Financial Planning: Do It Ourself or Trust a Professional?

Financial Planning

Financial Planning future is an important task. It requires a complete understanding of our current financial situation, our financials goals and the best methods for achieving those goals. Sometimes, our goals are simple and require little planning, such as opening a savings account with a recurring deposit. Other times, our goals are more intricate, such as investing enough money to maintain our lifestyle into retirement. Depending on our level of understanding, planning for and achieving complex goals may require the services of a financial advisor. Continue reading “Financial Planning: Do It Ourself or Trust a Professional?”

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Mortgage Insurance

mortgage insurance

Purchasing a home is important financial decision, and it is important to do everything to meet the terms of our mortgage. To deal with financial situations that may arise unexpectedly, it is worth to take out mortgage insurance. Below is all what you need to know about mortgage insurance.

What is Mortgage Insurance?

Like any insurance policy, mortgage insurance helps us plan for the future and provides us with options in case we can t make  regular loan payments. Mortgage insurance is available in two different formats geared toward very different purposes.

First type of insurance protects the lender by making payments on the mortgage if the borrower can t. When homeowners purchase this type uf policy, it typically costs a small percentage of the base home loan, and borrowers pay a monthly premium.

Homeowners also have the option to purchase mortgage life insurance. This type of policy insures our mortgage in case we pass away or develop a major disability.

When Mortgage Insurance Is Required

Depending on the type of policy we are considering and the terms of our loan, our lender may require mortgage insurance.

Is Mortgage Insurance a Good Idea?

How much is mortgage insurance? It costs so much that many experts believe these policies are a bad idea. Private Mortgage Insurance costs around one 1 percent of the loan.

Many people also caution against purchasing mortgage life insurance. Although we will certainly want to protect our family and our property in the event of a death or disability, a mortgage life insurance policy does not offer much flexibility. Instead, many experts advise homeowners to pursue standard life insurance policies for these purposes.

How to Get Rid of Mortgage Insurance

If we do purchase a mortgage life insurance policy but no longer want to keep it, we may simply be able to cancel it. Getting rid of Private Mortgage Insurance, however, takes time. Once we have built up 20 percent equity in our home, we have the option to call our lender and cancel Private Mortgage Insurance. If we do not take action, the policy will simply fall off the loan once you have reached 22 percent equity, and we will no longer be responsible for Private Mortgage Insurance payments.

 

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How to improve health

how to improve health

Would You like to improve your health? Below is the list starting point to get you making your physical, emotional, and spiritual health a priority in your busy life.  And, once you do these health upgrades today, do them again tomorrow. and after tomorrow.

1. Drink more water. Your body is 90 percent water and needs water for almost every function.  Many of the aches and pains, headaches, and other symptoms we experience would lessen if we just drank more water.

2. Be More Active and Exercise. Exercise offers many health benefits. Regular exercise improves brain function, allows people to be active in their later years.

3. Maintain a Healthy Weight. Losing weight and keeping it off is difficult. Yet studies show that losing weight just a few pounds if you’re overweight will improve your health.  A healthy diet includes fruits, vegetables, and whole grains. A good diet limits refined sugars and saturated fats. One easy way to shed calories from your diet: drink water instead of sugary beverages.

4. Don’t Smoke. Lung cancer remains the leading cause of cancer death – and between 80% and 90% of cases are directly caused by smoking, according to the National Cancer Institute.

5. Meditate. Taking some time out to clear your thoughts and unplugging from technology and people can help you feel more balanced and peaceful. Just relax!

 

 

 

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Sea Salt Health Benefits

sea salt health benefits

Do you know that table salt is highly processed and very different from high-quality sea salt?  Find out sea salt health benefits!

Sea salt is becoming more popular, as more and more people are learning about all the health benefits. The salt is obtained from the sea, and does not go through any processing that alters the natural make-up of the salt.

It contains many essential minerals that our body needs in order to be healthy. This natural salt is healthier than the iodized salt available in the market. By adding sea salt to our diet we have great benefits:

Strong Immune System – sea salt naturally helps us to build up a strong immune system so we can fight off the cold virus, the fever, flu, allergies and other autoimmune disorders.

Alkalizing – sea salt is alkalizing to the body, as it has not been exposed to high heat and stripped of its minerals.

Weight Loss – sea salt helps the body to create digestive juices so that the foods we eat are digested faster, and it helps to prevent buildup in the digestive tract, which can lead to constipation and weight gain.

Diabetes – sea salt can help to reduce the need for insulin by helping to maintain proper sugar levels in our body. The salt is an important part of the diet for diabetic.

Skin Conditions – a sea salt bath can help to relieve dry skin. The bath naturally opens up the pores, improves circulation in the skin and hydrates.

Heart Health – salt, which is taken with water can help to reduce high cholesterol levels, high blood pressure and help to regulate an irregular heart beat. Sea salt can help to prevent heart attacks and strokes.