How to Raise Future Millionaires - It's Easier Than You Think!

"Set a goal to become a millionaire for what it makes of you to achieve it. Do it for the skills you have to learn and the person you have to become." ~ Jim Rohn

I learned about the incredible time-value of money when I was close becoming 40 years old. The time-value of money explained simply is that a small, insignificant amount of money invested over a long period of time can grow into a significant and life-changing amount of money. The key is that the more time you have, the more your money can grow.

So naturally, when I learned about this simple concept so late in life, at first I was mad. Why didn't anyone teach me this sooner? But I realized that thinking this way was very selfish of me. I mean, most people go through their whole lives never knowing or taking advantage of the time-value of money and I am just so grateful to have learned this simple yet elusive concept. I began to realize that I still have plenty of time to take advantage of this powerful concept, and I thought, What if I applied this concept to my kids who have even more time than myself? Then I thought, What if I share what I've learned so that others don't have to possibly learn this too late in life or to possibly never learn this in the first place?

So, when I learned this concept, my kids were 3 and 7 and I wondered how much they needed to invest to have a million dollars by age 65. Now when I talk about investing, I am not talking about saving in an account at the Bank or Credit Union - I'm talking about getting some Mutual Funds and actually investing that money in the Global Economy. So, the first thing I did was help my son earn some money and by the time he was 8 years old he had a whopping $335.00 to invest! As unexciting as this might seem, my son still had lots of time on his side, 57 years to be exact, until he would turn 65. And, would you believe that while invested over that period of 57 years, that insignificant $335.00 would grow to over $300,000.00! So, I figured worst case scenario, my son only had to invest $335.00 per year for only 4 years between the ages of 8 and 11 and without adding any more money, it would be very possible to accumulate over one million dollars by the age of 65! And that could all be done by only a total investment of $1340.00!

Now, if you think that is incredible, my daughter was younger, so she would have even more time for her money to work for her than her brother. My daughter was 5 at the time she started investing. Comparing apples to apples, if we were to just take the same $335.00 her brother made and invest it, but she had 60 years until age 65, that would grow to over $400,000! So the money, working only 3 years longer than it did for her brother would grow an extra $100,000! Now that's the time-value of money! Again using worst case scenario of only making $335.00 per year and investing it, she would only have to invest for 3 years between the ages of 5 and 7 and have over a million dollars by the age of 65 - all from a total investment of only $1005.00!

So do I have your attention now? Do you see the importance of understanding the time-value of money? - Not only understanding it but taking advantage of it. Isn't that exciting? And that wasn't that hard, was it?

But remember these are our kids and it is not just about the money, it is more important about the good habits they are forming and the people they are growing into along the journey. Keep this in mind and you can make this a fun experience with your kids as well as a learning experience. Now my kids are 13 and 9 and I am happy to say that over the years they have exceeded the worst-case scenarios of only investing $335.00 per year and they are well on their way to becoming future millionaires.

Now for those of you who are thinking to yourself, How does this help me? I don't have any kids or I am too old. Well, it is never too late to take advantage of the time-value of money - it just becomes more and more expensive the longer you wait. If you were wondering how much it would cost you to have one million dollars by retirement, check out one of my earlier posts titled Don't Pay the High Cost of Waiting - Start Now!

How to Pick an Independent Financial Adviser

You may find this article useful in providing the key points to help you pick an experienced IFA in the UK.

With over 30 years experience as an independent financial adviser, I would suggest you consider the following key points in finding your perfect adviser.

Ideally your adviser should be located within s 20-mile radius so that he or she can be available at short notice, it may also mean, lower call out fees or charges.

However, if you have an adviser who is further away but is always available online over the phone or via email and you are happy with this arrangement, then fine.

It may not be ideal, picking an adviser who's fresh out of college or university because they may well be friendly and keen but will lack the knowledge and experience than you will need. It is all very well passing a few exams but an adviser with a lifelong experience is by far a much better solution.

A good IFA will talk quite happily about the fees or how they get paid, advisers who are vague should be avoided, when an adviser talks freely about their fees then that gives you confidence and a reference point in deciding whether you will get value for money if you agree to instruct them for their services.

Remember that if an IFA charges you a 2% fee for advising you on a £50,000 investment and then charging 2% for £250,000 would in my opinion be unfair. After all the adviser is unlikely to be doing 5 times more work for their fees are they?

Most good advisers will have an up to date website with details about their experience but also importantly, verified client reviews that will demonstrate the skill and effectiveness of this particular adviser.

If no client reviews are available then you may be unable to form a fair opinion, perhaps you should continue to shop around or get a recommendation from your family or friends.

All adviser these days need to be registered not only with the UK financial regulators such as FCA but also various organizations, networks and institutions to help advisers gain additional ongoing knowledge, plus acquire a minimum number of CPD points/hours for their continuous professional development to remain compliant.

Usually the first meeting is free, if not then pass them by as most professional IFA's will always offer you a free "no obligation meeting" in order for you to get to know them and to decide if you feel you can trust and be guided by this adviser and to build up a good working relationship that may last a lifetime.

Your adviser will need to be able to talk to you in a way that you can clearly understand, it is all well and good having an adviser that has passed the highest level of qualifications but if they talk to you in a jargon that leaves you clueless then that's just a waste of your time and theirs!

Finally, it is always really helpful if like your adviser or at the very least, if you can get on with them, that they talk your language, listen to your needs and concerns and provide some effective ideas and solutions that are presented in a way you can fully understand.

During that first meeting, there should always be a few questions you will need to ask the adviser such as:

Are you fully authorized? 

Are you independent or restricted? 

What qualifications do you have? 

What are your initial fees? 

What are your ongoing annual fees? 

How will I receive the advice? 

What is my choice of ongoing services? 

Can you provide client recommendations?

After all, when you are dealing your life's savings, your retirement income or finances generally, you can't afford to get it wrong.

As IFA's our motto must always be: 

"Treat the client right, first time, every time"

First Option is one of the leading independent financial adviser firms in Cardiff. 

They provide advice regarding Investments, retirement planning, savings, personal pension, Taxation, life insurance & business protection.

There Is No Shortcut to Credit Restoration

Got a Low Credit Score? Avoid Quick-fix Solutions

Claims like "We can improve your bad credit instantly, no questions asked!" "Contact us to make a new credit identity - legally" or "Credit problems? Fix them in a month" are common in TV ads, radio, flyers, emails, and online space. According to the attorneys at the Federal Trade Commission (FTC), no legitimate credit restoration company claims credit repair is a quick-fix solution.

There is no shortcut or quick fix to improve your credit. It takes time, conscious effort and following a stringent debt repayment plan. You need to know your rights before hiring a credit restoration services company. Some people say that you don't need any help to fix your credit and it is advisable to try it yourself. However, that will involve a lot more time and effort on your part. 

Your Rights

In any case, you need to be aware of your rights:

- Each of the three nationwide credit bureaus - Equifax, Transunion and Experian are obligated by law to provide a free credit report to all consumers once a year. You can order the three free credit reports at the same time or leave a gap of 3-4 months between each report. The latter is a better idea because it allows you to monitor the progress of your credit status periodically.

- You are entitled to receive a credit report for free if any organization has taken an "adverse" financial action against you. This includes denial of credit, insurance application or employment. You need to ask for the report within 60 days of receiving the notice of an adverse action. People, who are unemployed, are allowed one free credit report if they are planning to find a job within 60 days. People on welfare and whose report is inaccurate due to fraud, such as identity theft are also entitled to a free credit report.

- There is no cost associated with disputing inaccuracies in your credit report. You can raise a dispute both with the credit bureaus and the information source that provided some of your personal financial details.

What to Do When You Need a Real Solution?

If you are wondering, "How can I restore my credit now?" it may be a good idea to delegate this task to seasoned professionals with years of experience in credit restoration. Legitimate and reliable credit restoration companies would first scan through your credit report and leverage their years of experience to find items that can be disputed successfully. They not only detect inaccuracies and errors, but also verify their authenticity with the concerned parties.

A Simple Starting Point Online

So you wonder what all the hype about working online is all about, you wonder if you can really make money, how easy is it and what experience and equipment you will need.

Well Yes you can make money online or there wouldn't be so many people doing it. The amount depends on your knowledge commitment and training and the ability to put what you learn into action. However it does take time to build up regular customers, learn the techniques and apply them. You will need a PC or laptop and an internet connection, a printer would be helpful too.

"Which Guides" give you free information on learning to use a laptop efficiently if you are a complete beginner?

How easy is it, well that depends on your existing knowledge and determination to succeed. There are new things to learn, how good are you at following instructions?

If you find a mentor in the niche you are interested in, who will work with beginners, who you can relate to, someone who works with your style of learning you should find the learning curve straight forward.

Choose a mentor providing excellent products, who allows you to direct your prospects to their sales pages with your own individual affiliate link and it will save you a lot of effort initially. A good mentor has a proven plan which is tried and tested and will enable you to earn as soon as possible. It will be in their interest as it will be their products that you will be selling!

You will probably have to purchase training; either a course or tuition but it will save you time and money in the long run. If you choose to use paid traffic to speed up your progress you will need some cash to start with until it becomes self funding. Free organic traffic is the alternative but it will take longer to grow your business.

So now you have learnt a bit about affiliate marketing, why should you consider setting up a business online? Well I find it fun and rewarding, I love learning new techniques. The internet is always changing; what works this year might not be so successful next year, or in a few months, you have to keep testing and adapting.

If you fancy eventually being your own boss and being in charge of your life with time freedom to work around family life or other commitments it can be an excellent choice.

You may just want a small hobby business to raise holiday cash and also give you an interesting hobby, the choice of how big your venture becomes depends on the time effort and commitment you invest. I find affiliate marketing rewarding and there are many ways to diversify when you have mastered the initial stages, however affiliate marketing is a very good starting point for beginning an online business. It gives you the opportunity to discover if working at home is really what you want to do.

Books to help you:

"Feel the Fear and Do It Anyway" by Susan Jeffers.

"Thank God it's Monday" by Charles Cameron and Suzanne Elusor, a book to offer strategies for making life more tolerable whilst you make changes.

"Laptop Millionaire" by Mark Anastasi.

"Building an Online Cash Cow" by Anthony Barlow.

My name is Anne -"We always aim to give more value than you expect"

Best Wishes in your venture, take a look at the information to grow your business FAST.

I would like to introduce you to Sarah Staar's fantastic FREE information videos she has allowed me to share with you. She is a very successful Internet Marketer and Coach. Her videos are very clear and easy to follow - See for your-self NOW whilst they are available to view FREE! You will find several on our website - enjoy!