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Secure Your Love and Future: Why a Prenup is a Must-Have for Every Couple!

Getting married is one of the most exciting times in your life. It’s a time of love, joy, and promise. However, it’s also a time when you need to be practical and think about the future. While it’s easy to get caught up in the romance of the moment, it’s important to remember that marriage is a big decision that shouldn’t be taken lightly. With the rate of divorce on the rise, it’s crucial to take steps to protect yourself and your assets in the event that your marriage doesn’t work out. That’s where a prenuptial agreement comes in.A prenuptial agreement, or prenup, is a legal document that outlines how assets will be divided in the event of a divorce. Many people view prenups as unromantic, but they can actually be a great way to add transparency to your relationship and make sure that both partners are on the same page about finances.If you’re still on the fence about whether or not to get a prenup, here are ten reasons why you should:
  1. Adding transparency to a relationship: A prenup can help both partners be upfront and clear about their finances, which can actually bring them closer together.
  2. Protecting yourself and your assets: If you earn more than your partner or have more assets, a prenup can ensure that financial liabilities and division of assets are clear before the wedding, so you can be sure of what you’ll be paying in case of a divorce.
  3. Protecting yourself from your partner’s debt: If your partner has a lot of debt, a prenup can help protect you from incurring it in the event of a divorce.
  4. Protecting your children’s future: If you’ve already been divorced or widowed, a prenup can help make sure that your children get their fair share of your estate.
  5. Protecting your business: If you’re a business owner, a prenup can help protect your business from being divided during a divorce, which can prevent you from having to liquidate it.
  6. Ensuring fairness: If you choose to stay at home and take care of the home and children, a prenup can ensure that you are compensated appropriately in the event of a divorce.
  7. Protecting your future career: If you’re about to start a lucrative career that will help you rise up, such as in law or medicine, a prenup can take that into account and ensure that you are protected.
  8. Preparing for the unexpected: People change, and a prenup can help protect your assets in the event that your partner changes in ways that are unexpected.
  9. Saving money: Going through a divorce can be expensive, but a prenup can actually save you money in the long run by avoiding costly legal fees.
  10. A less stressful divorce: Divorce can be extremely stressful, but a prenup can help make the process a little easier by avoiding complications around finances.
  In conclusion, a prenup is not just for the wealthy or unromantic. It’s an important tool to help protect your assets and make sure that you are on the same page with your partner about finances. By planning ahead, you can ensure a more stable future for both you and your partner. So if you’re thinking about getting married, consider the benefits of a prenup and talk to your partner about it. A little bit of planning now can save you a lot of stress and heartache in the future. Remember, a successful marriage is built on love, trust, and open communication, and a prenup can help facilitate that communication For more Healthy Money Tips Listen to our PodCast  “Money 911” and Subscribe to my Youtube channel here Sign up for a Financial Fitness Strategy Session at Meet with Kris Miller – Financial Fitness Strategy Sessions Go to my website https://healthymoneyhappylife.com Email me at Kris@HealthyMoneyHappyLIfe.com Call me at (951) 926-4158
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Accounting Advice Women In Business

Be Prepared: Why an Emergency Fund is Essential for Any Crisis

Are you financially prepared for an emergency situation? Can you survive without access to banks or ATMs for an extended period? Do you have enough emergency funds to cover your basic necessities during natural calamities or catastrophic events? These are the questions that you need to ask yourself to ensure that you are ready for any emergency situation that may come your way.

Having an emergency fund with you is essential to help you survive during tough times. The amount that you need to keep varies, and it depends on the situation that you are in. Some people suggest keeping at least $500, while others recommend $1,000 or more. There are even those who advise saving enough to cover your living expenses for three to eight months.

The important thing is to start saving for your emergency fund today. You can start small by setting aside a portion of your monthly income. Financial gurus suggest saving at least $250 per month, or if you cannot afford that, extend your savings period to 18 months and save at least $166 per month.

One of the common concerns about keeping an emergency fund at home is safety. It’s understandable that you may feel unsafe keeping large sums of money at home, but there are clever and safe ways to hide or keep your emergency funds. You need to find secure places where you can easily access your money when you need it.

Remember, an emergency fund is not disposable income. It should be treated differently and considered a necessity. It’s not a matter of if an emergency situation will happen, but when it will happen. So, it’s essential to be prepared at all times. Saving for an emergency fund takes the same approach as saving for a rainy day or a nest egg.

In conclusion, having an emergency fund is essential to help you survive during tough times. It’s never too late to start saving for your emergency fund today. The amount that you need to keep varies, but the important thing is to have enough cash on hand to cover your basic necessities during natural calamities or catastrophic events. So, start saving now and be prepared for any emergency situation that may come your way.

For more Healthy Money Tips Listen to our PodCast “Money 911” and Subscribe to my Youtube channel here

Sign up for a Financial Fitness Strategy Session at Meet with Kris Miller – Financial Fitness Strategy Sessions

Go to my website healthymoneyhappylife.com

Email me at Kris@HealthyMoneyHappyLIfe.com Call me at (951) 926-4158

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Accounting Capital

Unveiling the 3 Secrets of Financial Planning: Discover What Your Broker is Keeping from You and Take Control of Your Financial Future!

Are you confident that you’re on track to retire comfortably? If you’re like most people, you probably have no idea where your retirement money is invested. This lack of knowledge could leave you financially unprepared for your Golden Years.

But fear not! You can take control of your investments today and secure your financial future. Don’t rely on a broker to do the work for you – they might not have your best interests at heart. It’s time to dispel the myths and take charge of your retirement planning.

Why are so many people unprepared for retirement? Because they believe in outdated financial planning myths that simply won’t go away. It’s time to learn the truth and avoid the struggles that so many others face. By taking the reins of your financial future, you can ensure a comfortable retirement that you deserve.

Myth #1 Investing requires taking on risk

Fixed index annuities are a safer investment option compared to the stock market for retirement planning. These annuities provide stable returns and offer safety, liquidity, and better rates than most other products. Unlike the stock market, fixed index annuities provide a fixed rate of return and protect against market fluctuations and volatility. With fixed index annuities, you can earn higher returns without taking on unnecessary risks, ensuring a comfortable and financially secure retirement.

Myth #2 Your broker’s profit is linked to your profit.

It’s important to understand how brokers make money and protect your investments. Brokers profit by managing your money, not by ensuring you make money. Consider working with a fiduciary advisor, who is legally bound to act in your best interests. Educate yourself on investment strategies and understand the risks and rewards. Take an active role in managing your finances and seek out resources to make smart investment decisions.

Myth #3 Tiny Fees Have No Impact

Did you know that hidden administration fees could be slowly draining your retirement account without you even realizing it? While management fees are easy to spot, administration fees are not. According to the U.S. Department of Labor, a 1% increase in fees can reduce your retirement account balance by 28%. That’s a huge cost that could potentially cost you thousands of dollars.

To avoid these hidden fees, it’s important to educate yourself on the different fees associated with your retirement account, such as plan administration fees, investment fees, and individual service fees. Ask your broker to explain any fees that you don’t understand, and consider working with a fiduciary advisor who is legally bound to act in your best interests. By taking an active role in managing your finances and understanding different investment strategies, you can minimize the chances of losing money to hidden fees.

 

Secure Your Future Today

Retirement planning is crucial, but it doesn’t have to be overwhelming. Don’t fall for these three common myths that could derail your financial future:

    • You can wait to start planning for retirement.
    • Investing in the stock market is too risky.
    • Your retirement plan will take care of itself.

The truth is, starting early, diversifying your investments, and taking an active role in managing your retirement accounts can lead to a more prosperous retirement. By dispelling these myths and making informed decisions, you can secure your financial future and enjoy a comfortable retirement.

For more Healthy Money Tips Listen to our PodCast “Money 911” Subscribe to my Youtube channel youtube.com/@healthymoneyhappylife

Sign up for a Financial Fitness Strategy Session at Meet with Kris Miller – Financial Fitness Strategy Sessions

Go to my website https://healthymoneyhappylife.com

Email me at Kris@HealthyMoneyHappyLIfe.comCall me or text (951) 926-4158

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Accounting Advice Capital

BREAKING THE RETIREMENT PLANNING MYTH: WHY 100% OF STRATEGIES FAIL TO SECURE YOUR LIFETIME INCOME

100% of all retirement planning will fail to provide you with a guaranteed lifetime income.

Yes, 100% is correct. Regardless of how big the planning company is and how lucky or smart the advisor is, none can guarantee you an income for as long as you live.

The best they can do is guess how much or how long you could expect to get checks in retirement. Unlike Social Security and a company pension (not a 401k type plan) that can give you exact numbers, investment advisors can never give you any guarantees.

There are two separate and distinct areas of planning that confuse. Both of them start with the word Retirement. Retirement planning is what an employee gets when he starts working for a company and needs to learn about his investment options, risk tolerance, and dollar matching in the company’s 401(k) or IRA plan.

However, retirement “Income” planning is very different. Note the word income. How to get this saved money to produce a monthly paycheck as I or we are nearing Retirement? That sounds like a reasonable question to ask- how much can I take out for as long as we are both alive? In all honesty, it is the only question that matters. (I have put together critical questions you need to ask now). Income planning should be seriously looked at about ten years before you want to retire.

The retirement planning investment pros cannot give you an answer to that seemingly simple question. Why not? Social Security and company pension plans know to the penny how much you will get guaranteed for your life and a partner if you have one. How come to your retirement planner cannot do the same? Unfortunately, there is no way for them to do that. They can’t give any guaranteed amounts or length of time the money may last.

Why? You see, investment advisors are prevented by law from doing so. Because they can’t give you any guarantees, they need to craft a story that will convince people to leave their money with them: failure to provide a convincing story will result in them losing billions of dollars in commission and fees!

The first step is for you to believe they are the authority by multi-million-dollar advertising.

The second step is to do hypothetical case studies and use computerized projections to tell a story that looks so factual that you believe it. These projections appear authentic by predicting (really guessing) the chances your savings will last and not run out during retirement. To do this, they must apply guesses about what inflation will be projections for portfolio growth, (even though every investor knows “past performance does not guarantee future results, asset mix, and a sustainable

Withdrawal rate. These many assumptions lose any basis in reality. Countless economic studies have proven no one knows what percentage you can take out of your portfolio without running out of money. (No one can predict to future). Now your retirement planner puts these assumptions into a computer, presses the go button, and from these “guesses and assumptions,” impressive report prints.

The best part is that it looks official, leading many to a false sense of security (no guarantees) and the real possibility of running out of money in retirement.

It would be best to ask your advisor direct questions about how your money can produce income now. I have created a robust list of questions, including a guide highlighting each question and detailing what to look for. Please reach out, and I will send them.

 

For more Healthy Money Tips Listen to our PodCast “Money 911”

Meet with Kris Miller – Financial Fitness Strategy Sessions

https://healthymoneyhappylife.com/

Kris@HealthyMoneyHappyLIfe.com

(951) 926-4158

Categories
Accounting Capital Women In Business

DOES RETIREMENT PLANNING NEED MORE THAN A CHRONOLOGICAL AGE?

The answer is Yes! Other crucial factors need to be reviewed.

First, understand the difference between life span and health span. Life span is how long you live. Healthspan is how long you live in good health. 

Often, the life span is always longer than the health span. Somewhere in those years is a gap. The gap consists of the span of years when we need help with the activities of daily living. The span can range from several months to maybe up to 10 years.

We all know that retirement has three stages; the Go-Go years, then as we age, we experience the slow-go years, and finally, the no go years. Many may spend a few in exiting the slow-go years and entering no-go years

When we think about retirement, we should also think about what support system will be available and have in place. Who will care for your financial affairs when you can’t count anymore?

Second, we need to look at biological age vs. chronological age to help complete the picture for proper planning.

Biological versus chronological age.

The problem is that chronological age only tells us a little about what we want to know, which is how long we will live. The reason chronological age is important is we need to get a sense of how long you have left to go. This helps with the decision if you only have ten years left? You shouldn’t be investing so much in stocks. Do you have 40 years left? You can invest in stocks.

Chronological age isn’t the best metric for your future. For a better sense, we need to use both and allow for flexibility.

 Future, we need to know your biological age. Some people are 55 years old chronologically, but their biological age is 75, and they’re not in good health. 

There are other people whose biological ages are 10 to 15 years less than their chronological age. They’re in great shape. You look at them and say, “She does not look 65.” It’s not just that she doesn’t look 65, and her biological age is 45.

We need financial plans that are geared toward the number that really matters — biological age. That’s where I think things such as long-term care insurance are essential. Even though traditional long-term care insurance wastes money, planning around it is crucial.

     Should a retirement plan be based solely on chronological age?

We need financial plans that are geared toward the number that really matters — biological age. When we look at all four issues, we can now plan better:

A low biological aged person will need two different income sources, one starting at retirement and the other some years down the long retirement road.

A person with a high biological age may need a shorter version of an income source and skip the second one.

Also, the use of recent development is an asset-based benefit that provides long-term care benefits without the need to buy expensive long-term care insurance. 

With asset-based care, you put your assets to work using IRS-approved strategies. If you don’t use the benefits, you won’t lose any of your money and can still leave the entire balance to your family upon death.

More facts make designing a better plan to withstand life’s uncertainties. Regardless of biological age, health span life span, even though they are good places to start, that is not the only criteria. Everyone knows their DOB, and almost no one knows their DOD, so targeted flexibility is the only answer to planning.

For more Healthy Money Tips Listen to our PodCast “Money 911”

Meet with Kris Miller – Financial Fitness Strategy Sessions

https://healthymoneyhappylife.com/

Kris@HealthyMoneyHappyLIfe.com

(951) 926-4158

 

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Accounting Branding Capital Case Studies Economics Investing IT Leadership Mergers & Acquisition News and Politics Operations Technology

WATCH: Inside the Ever Unfolding TOSHIBA Scandal

Toshiba is a brand that’s been drowning in scandals for years. Including a recent one that involved overstating it’s profits to shareholders by $1.2 billion which resulted in the resignation of their CEO.

The company was once one of the most innovative businesses on the planet, they produced one of the first laptops. They were credited as being the first company to mass produce one. Chances are you owned one…

They were sued and settled to pay $1billion in a class action lawsuit for faulty equipment.

Despite being such an innovative company, Toshiba has experienced some massive setbacks over the years that have resulted from a combination of both poor business decisions and public scandals.

This video y Company Man highlights the most notable ones. Here’s a video that highlights the history of Toshiba’s insane series of scandals.

 

WATCH:

 

The Surprising History of Toshiba

Toshiba traces its history in Japan to 1875. The company rode the post-war Japanese manufacturing boom in the late 1950s to high growth portfolio of unique and innovative products. Toshiba began selling products in foreign markets during this period and continued to expand its businesses across the globe during the following decades.

Today, the conglomerate operates business units on a worldwide scale in a variety of diverse industries, including semiconductors, personal electronics, infrastructure, home appliances, and medical equipment.

Toshiba reported net worldwide sales of more than 3.38 trillion Japanese yen or $31 billion for the 2020 fiscal year. The company employs more than 125,648 people worldwide.

 

 

 

For more information visit tylerhayzlett.com

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Accounting Growth Human Resources Investing Management News and Politics Personal Development Technology

Is This the Beginning of the End for Wayfair?

It’s been a big week for retail…

Wayfair, the online home goods retailer, announced today it was laying off close to 900 employees. This comes after the company announced a hiring freeze back in May.

The layoffs represent about 5% of the company’s global workforce and 10% of its corporate team. 400 jobs are being cut in Boston alone at the company’s HQ).

This announcement came as an alarm to investors, causing the stock to plummet…

Wayfair’s Stock is Crashing…

For the first two years of the COVID-19 pandemic, the company was profitable. According to The Wall Street Journal, Wayfair’s stock fell by over 17% Friday morning.

Wayfair has been struggling to keep customers after a spike at the start of the pandemic. Earlier in August, Wayfair said it lost 24% of active customers since last summer.

Recent regulatory filings revealed that the job cuts will help Wayfair “manage operating expenses and realign investment priorities.”

CEO Niraj Shah wrote in an letter to employees that the layoffs were a “difficult decision” resulting from Covid-19.

“We were seeing the tailwinds of the pandemic accelerate the adoption of e-commerce shopping, and I personally pushed hard to hire a strong team to support that growth,” Shah wrote. “This year, that growth has not materialized as we had anticipated. Our team is too large for the environment we are now in, and unfortunately we need to adjust.”

 

Is This the Beginning of the End for Wayfair?

Wayfair had flourished at the beginning of the pandemic, when demand for inexpensive furniture and other home decor upgrades that it broke global supply chains and caused lengthy shipment delays.

But fast forward to the present economy, inflation has killed discretionary spending for  middle-income shoppers, who have pulled back their purchases to focus on paying for necessities like groceries, gas and rent. Wealthier customers have shifted their spending from furniture and other goods to travel and services. Mortgage rates have climbed significantly, cutting into demand for new homes as well (a key demographic for the company).

Overall, Wayfair posted a net loss of $378 million during the quarter. Wayfair’s shares have lost about 70% of their value since the start of the year. The layoffs will cost Wayfair between $30 million to $40 million for employee severance and benefits.

 

WATCH:

For more information visit tylerhayzlett.com

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Accounting Biography and History Culture Economics Growth Health and Wellness Industries News and Politics Taxes

Recent Video Explains Why Sri Lanka Just Declared Bankruptcy…

Sri Lanka Just Announced They Are Bankrupt. And Out of Fuel…

A country thriving and wealthy in 2012 just announced they are bankrupt in 2022.

Before it’s recent bankruptcy Sri Lanka  had a thriving economy. In fact its economy grew at an accelerated rate, ranked above Singapore, Ireland, and South Korea.

Located in the center of the world’s most important shipping location, the country was set up to be a world economic import superpower. But a crisis hit…

On Tuesday, the country’s president, Ranil Wickremesinghe, told the Sri Lankan parliament that the country is not only bankrupt and that it also has no fuel left. Government employees have been told to stay home due to fuel unavailability.

Inflation spiked 54.6% in a year and is expected to hit 60% soon, and transportation costs have gone up 128% in only one month, according to Bloomberg.

At the G7 Summit last month, the US pledged $20 million to assist Sri Lankans in the fight for food security. This came in addition to a previously donated amount of $12 million.

But despite global assistance, the nightmare is far from over for Sri Lanka. Premier Wickremesinghe said that the country was participating in negotiations as a bankrupt state, and the worse is yet to come…

“Due to the state of bankruptcy our country is in, we have to submit a plan on our debt sustainability to (the IMF) separately. Only when they are satisfied with that plan can we reach an agreement at the staff level. This is not a straightforward process,” he said, and CNN reported.

A recent video explains the full story.

 

WATCH:

For more information visit tylerhayzlett.com

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Accounting Best Practices Biography and History Culture Growth Industries News and Politics Personal Development Taxes

China’s Banks are Failing, Protests Everywhere. China Prepares for Complete Financial Catastrophe.

$6 billion of savings deposits just disappeared, leaving more than 400,000 depositors of six rural banks in central China’s Henan province devastated.

The journey to get to the bottom of how such a large sum of money disappeared started to unravel a series of systemic financial corruption.

Allegations of crime and corruption are spreading through China’s small banks as more depositors are being locked out from their life savings. And it appears the CCP is making the situation worse.

Hundreds of people took to the streets of Zhengzhou to protest their inability to withdraw money from four local banks since April! Similarly, citizens are accusing their local officials of widespread corruption and mismanagement. It’s getting ugly…

The demonstrations turned violent when a group of unidentified men in white shirts attacked the peaceful demonstrators.

Chinese authorities appear to be pinning blame for the banking issues on a group of “criminals” in charge of the local banks. But the issue runs much, much deeper. Watch the video for the full story. This is far from over…

WATCH:

 

Experts are likening the situation to be worse than the US 2008 financial crash and warn of it’s global impact.

WATCH:

For more information visit tylerhayzlett.com

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Accounting Best Practices Culture Economics Entrepreneurship Health and Wellness Industries Investing Leadership Skills

How Rich Can You Get on YouTube?

Turns out, pretty rich actually. But how much money are we talking about?

For starters, according to a study, becoming a professional YouTuber has officially become the most desirable  jobs on the planet.

Which makes sense given some of the biggest YouTubers are generating more money than professional athletes.

The amount of money they are generating is pretty crazy. Here are some of the top content creators on YouTube with the highest earnings.

 

These Top YouTubers Are Making How Much Money?

  1. Ryan’s World — $22 million
  2. Jake Paul – $21.5 million
  3. Dude Perfect – $20 million
  4. Daniel Middleton (DanTDM) – $18.5 million
  5. Jeffree Star – $18 million
  6. Mark Fischbach (Markiplier) – $17.5 million
  7. Evan Fong (VanossGaming) – $17 million
  8. Sean McLoughlin (Jacksepticeye) – $16 million
  9. Felix Kjellberg (PewDiePie) – $15.5 million
  10. Logan Paul – $14.5 million

 

Which begs the question, how many views do you have to get on your YouTube channel to get a fat paycheck?

How Much Can You Make Off Your YouTube Videos?

YouTubers charge brands anywhere from $10 to $50 per 1,000 views, depending on the estimated amount of total views for the pending video. If the video hits 1 million views, then the YouTuber makes anywhere from $10,000 to $50,000.

Crazy right? But there’s a little more to it than that. Here’s the catch…

The Truth About Making Money on YouTube

The vast majority of YouTubers don’t make any money and despite how easy people think it is. Creating a quality YouTube audience and content is a hell of a lot harder than most people think. And it’s only getting harder…

It’s a competitive marketplace. As of 2022, there are more than 51 million YouTube channels out there. The number of channels is growing strong: last year it grew by 36%. People all around the world are creating a YouTube channel, and uploading 500 hours of video every minute.

But obstacles be damned, if you’re up to the task and are interested in cashing in on the billions of people tuning in to watch YouTube videos (and ads), here’s a video that breaks down exactly how to make money using the giant cash printing machine:

WATCH:

For more information visit tylerhayzlett.com