Thursday, December 24, 2020

Lonely Grandma Receives Over 1,000 Christmas Cards From Around the World Restoring Her ‘Faith in Human Nature’

A great-great-grandmother has been inundated with more than 1,000 Christmas cards from around the world, an experience she says has restored her faith in humanity. 92-year-old Nancy Letham usually receives only four cards around the holidays as her friends have gotten older and died. After an online appeal was posted late this October, though, Nancy […]

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How To Retire Early (And What To Consider Before You Do)

When it comes to knowing how to retire early, the process is both simple and complicated. It is simple for those who understand how to do it and are ready to put in the effort and discipline to have enough to retire early. But the process is complicated for those who have no such understanding. Have you realized how easily some people make millions? Have you also realized how challenging it is for some to make a living? This is the reality everywhere around the globe. In many countries, the normal retirement age is between 60 and 65. At this age, a person has worked for 40 years or probably more. Many people work for 40 years with a decent salary but end up depending on social security for survival after retirement. This shows that having a decent job with good benefits is not enough to retire comfortably, let alone retiring early. Is a good job a solution? If not, then what is? This article will not only teach you how to retire early but also how to retire early and rich. If you start following the steps in this article, you can retire in 10-15 years as a millionaire.

4 Things To Remember If You Want to Retire Early

To retire early, you have to make enough money to guarantee a decent living after retirement. This has to be done early. The process is simple:
  1. Earn more money.
  2. Spend wisely.
  3. Save and invest wisely.
However, before we look at the process, we must keep in mind the following important points:

1. Set Your Retirement Goals

Setting goals is the first step to any major achievement. They show you the way and help you know when you get there. These retirement goals should answer the following critical questions:
  • What is retirement to me? This can be not working again, leaving formal employment and starting your own business, or just doing what you are passionate about.
  • When do I want to retire? Do you want to retire at 20, 30, 40, or 50? This will help you evaluate the amount of time you have to achieve your goal.
  • How much should I have at retirement? What net worth do you want to have at retirement? How much income should your assets bring you every month after retirement?
  • What kind of lifestyle do I want to have after retirement? Some people want to retire and travel the world. Others want to retire and just spend time with family. The lifestyle you want to have after retirement should dictate how you live today.

2. Understand Where You Are Today

When heading to a certain destination, you have to understand where you are currently to know the shortest and most convenient route to take to that destination. This calls for an honest evaluation of your current circumstances. Do a thorough life audit to get this understanding.

3. Evaluate Your Options

After setting your retirement goals and understanding where you are currently, you need to evaluate the options. You can start a business, get a better job, invest in real estate, get a financial advisor, and all that.

4. Know the Way Forward

What options will I take? After understanding all the options available, you need to choose an option or a combination of options. These options will guide your actions moving forward. After answering these questions, there are specific actions that will help you retire early. We will divide them into the three major steps we pointed out earlier. These are: earn more, spend wisely, and invest prudently.

Earn More Money

This is inevitable. To retire early, you have to earn more than the average person. This will enable you to invest more and get financial freedom faster. Earning more money is not easy. If it were easy, everyone would be doing it. After all, everybody wants more. You need financial education, effort, and discipline to make more than you are making today. As we pointed out, your lifestyle after retirement should guide your actions.

1. How to Retire Early to Rest

If you want to retire early and spend time with family or rest, there are several steps that you can take to earn more. These steps will give you enough to pay for your bills after retirement. They include the following:
  • Get a second job. For those who are employed, a second job can increase your income at the end of the month. You can then live off one income. This will give you more investment capital to push you to your retirement goals. I have an employee who works for me during the day and then takes other jobs at night.
  • Get a better job. You can a job with better remuneration if you want to make more money. However, you need to increase your level of education and specialization.
  • Renegotiate your current remuneration terms. You do not need a better job if you can make the current one better. Renegotiate the terms with your employer to make more every month.
  • Start a side hustle. A side hustle will bring extra dollars at the end of the day. This can be a small business that you run in the evening and during the weekends. You can also employ someone to run it on your behalf.

2. How to Retire Early as a Millionaire

If you want to retire early as a millionaire and travel the world, you need to take a different path. Here are the following things you should do:
  • Start a scalable business. To become a millionaire, your business has to serve thousands of people. Here, the business idea should be working. The business should have working systems that can run even without you having to work every day.
  • Use other people’s time. People who retire early understand how to leverage other people's time to make more money. Successful people give money to buy time while average people use the time to get money. This is the difference. This is why the richest people have thousands of employees in their companies.
  • Use other people’s money. To get more money, you need to invest more. In this case, you need to know how to utilize debt to your advantage. Debt is a catalyst for financial growth. It is also important to be cautious because debt can be a catalyst for financial distress and disaster.
  • Work smart. To retire early as a millionaire, you cannot just work hard, you need to work smart. Working smart means achieving more with less. Get more by investing less time, effort, and resources. It can also mean earning without having to work.

Spend Wisely

It does not matter how much you earn if you cannot spend it wisely. To retire early and retire rich, you have to spend little as you can and invest the rest. The following actions can help you spend less:
  1. Track your spending. Record everything you purchase in a book and do the math at the end of the month. Consider whether what you bought is adding value to you or it was just an unnecessary expense.
  2. Only purchase what is necessary. To retire early, you only need to spend on what is needed, not what you want. Is it a need or a want? A need is something you cannot do without. A want is something you desire but is not necessary. Only buy needs.
  3. Sell your greatest liabilities. Liabilities take money from your pocket. They reduce your economic value. To spend less, you need to dispose of your greatest liabilities. If you have several SUVs, you can dispose of them and purchase a fuel-efficient car. This will save you money every day.
  4. Avoid consumer debt. Consumer debt will ruin your financial future. You will incur unnecessary interest payments without making anything from the debt. As Robert Kiyosaki says, when you take a loan, do not pay for it. Let others pay for it. This means that you have to invest the debt and use the profits from your customers to repay the debt.
  5. Live your life. One of the best ways to avoid unnecessary expenses is to live your life. Avoid unnecessary influence to upgrade your lifestyle. Do not keep up with the johnnies.
To retire as a millionaire, you have to spend as little as 10% of your income. However, to retire early with just enough to spend, you can follow the 50-30-20 rule. The rule says that you should allocate 50% of your income to your needs. This includes paying your most necessary bills like rent, food, school fees, taxes, etc. Also, invest 30% of your income on wants. These are things that increase your standard of living but they are not necessary. They include cars, a bigger house, a vacation, etc. Then, invest at least 20% of your income on investment. This is the bare minimum.

Invest Prudently

You cannot retire early and rich without becoming an investor. It is the investment that multiplies what you have into what you want to have. Investment is a risky area because money can easily go down the drain. This is why most people fear even the term itself. To invest prudently, the following are important:
  • Get financial and investment intelligence. This is what most people lack. They cannot distinguish between a good investment and a bad one. This is why they find it easy to play it safe and keep what they have as is.
  • Take calculated risks. This means that you do not just throw your money ignorantly into a project. You have to do your due diligence and gather as much intelligence as you can.
  • Overcome fear. Fear is common in all of us. However, successful investors overcome it. The rest allow it to stop them from doing what they have to do.
  • Overcome greed. A good investor is ambitious but not greedy. It is greed that causes the average person to lose money. As they rush desire quick returns, they lose everything. As Warren Buffet says, a good investor is cautious when others are greedy.

Final Thoughts

If you want to retire early and rich, you will need to come out of your comfort one. You will need to get knowledge, change your attitude, take risks, make moves, and become your best version. As I pointed out, if it were easy, everyone would do it.

More Tips on How to Retire Early



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Wednesday, December 23, 2020

Light flips genetic switch in bacteria inside transparent worms

Researchers have shown that colored light can both activate and deactivate genes of gut bacteria in the intestines of worms. The research shows how optogenetic technology can be used to investigate the health impacts of gut bacteria.

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A Security Guard Cycled for an Hour to Return Woman’s Lost Wallet—Now the Community’s Buying Him a Car

We’ve all heard of an “Aha! moment”—when something confusing suddenly makes sense or a brilliant idea shows up out of the blue. Well, it seems that in Hawaii, there’s also something known as an “Aloha! moment”—an occasion that offers someone an opportunity to bestow an act of love or kindness. What happens when an “Aloha! […]

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Ex-wife of Amazon CEO has Given Away $4 Billion in Last 4 Months to Help Those Affected by the Pandemic

MacKenzie Scott, who was married to Amazon founder Jeff Bezos for 25 years, has donated more than $4 billion in the past four months to hundreds of organizations and charities—in particular to food banks and emergency relief funds across the USA. A month after her divorce from the world’s richest man, Scott signed the  Giving Pledge—an initiative sparked […]

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How To Parent An Only Child: 7 Essential Tips

As a kid, my most far fetched fantasy was to be an only child—not an only child with my real parents but with imaginary parents who put me first in everything, spent all their money on me, and whose lives revolved around me. I imagined that they would buy me horses, I would live in my own suite in a mansion, and I would have my own maid who would wait on me. Of course, my imaginary mother would be by my side day and night to grant my every wish and dote on me. This fantasy was obviously far fetched. I grew up in a home with six kids. My parents were loving and wonderful. My fantasy life would have ruined me. I would not have learned life skills such as responsibility, sharing, giving to others, service of others, hard work, or selflessness. Being an only child may be a dream for some. However, parents must be aware of some issues that are associated with raising a single child. Below are some essential tips for parents.

1. Avoid Overindulging or Spoiling the Child

One of the dangers of having an only child is spoiling them by giving them too much. It is easier to do this when there aren't siblings in line wanting toys and gifts as well. Having one child makes it easy to overindulge them. We can curb that tendency by setting limits. Determine how many gifts or a specific dollar amount for each holiday and stick to that limit. You can also have them earn the things that they want. If they the newest video game, then have them do chores to earn money so they can earn it themselves. This can help delay gratification and teach them the value of earning something they desire.

2. Do Not Treat the Child Like a Fellow Adult in the Household

With only one child in the household, it becomes easy for parents to start treating them as an adult. Around age 8 or 9, many children show maturity and have adult-like behaviors. It becomes easy for parents to embrace this behavior because they understand it. However, the child is still a child, so they need to be treated as one. RaisingChildren.net explains that the prefrontal cortex of the brain is not fully developed until adulthood.((RaisingChildren.net: Brain development: teenagers)) Even teenagers will act impulsively because their prefrontal cortex is not yet fully developed. Parents need to understand that impulsive behaviors happen with children because of this. So, we can't expect children to be adults because they are not there yet in terms of development. Allow them to be children. They only get to be one once in their lives.

3. Socialize Your Child With Their Peers

A research article by Kitzman and Lockwood (2020) in the Journal of Social and Personal Relationships found that children who grow up without siblings are less able to handle conflict with their peers.((Sage Journals: Are Only Children Missing Out? Comparison of the Peer-Related Social Competence of Only Children and Siblings)) This is likely attributed to not having regular conflict resolution activities with siblings. Therefore, socialization with peers is of utmost importance. But even beyond that, parents should allow their children to resolve their own peer conflicts whenever possible. This will teach them how to get along with their peers and resolve conflicts on their own. Often, parents want to protect their child and will interfere with peer interactions if they see their child is going to be emotionally hurt. Parents should teach their kids conflict resolution skills by talking about how to react in these situations. Teaching them how to deal with their peer conflicts and to only seek adult intervention when necessary (such as the risk of physical harm) is helpful to the child's social skill development.

4. Set Realistic Expectations

When adults are only raising one child, they can have all of their hopes and dreams wrapped up in them. Parents should set realistic expectations. Children are individuals, and they are not you. They are their own person and as such, they have their own gifts, talents, and abilities that differ from your own. You should assess them on their own abilities, not yours. Expecting a child to be a super sports star and bound for the ivy league may not be reasonable. Each of them is special and unique. If someone has four kids, we may see one who excels at sports, another who excels at academics, another who is artistic, and another who is completely unknown in their talents and gifts because they are still young. With an only child, we can't expect them to fulfill all the dreams, hopes, and ambitions that could fill an entire family of six. Seek to find out what your child may be good at in life. They may have certain activities that they excel in and others that they do not. Encourage them in all that they do, but don't set expectations that are unreasonable and unattainable.

5. Give Them Chores to Teach Responsibility

Having one child makes it easier to do all the work in the household because it is doing laundry and cleaning up after for only one person. Parents with three kids are more likely to require their children to chip in on household chores out of necessity. One parent can't keep up with the messes and work involved with a bigger family. Children who are the only child in a home must still be required to do chores. It will help them learn about responsibility. They will also learn practical life skills such as how to fold laundry, how to properly wash dishes, and how to vacuum and clean the home. It can be empowering for them to do chores, especially if they are rewarded for extra chores so they can earn things that they want.

6. Don't Be Their Constant Entertainment

Kids want attention and time from their parents. It is wonderful for parents to give this to their children, but there should be a balance. If, for example, a stay at home mom has only one child, she is not expected to constantly entertain the child all day long. Parents need time to get their own work and housework completed, along with time for themselves. It becomes easy for parents to feel guilty about not playing with their child enough, especially when the child is constantly asking for the parent to play. Parents should set reasonable expectations for their kids when it comes to entertaining them. For example, the stay-at-home mom may say to her only child, "I am going to play trains with you for 20 minutes and then you can play for 20 minutes on your own while I do the laundry." Finding playgroups or moms with children who are similar ages to your own child is helpful. This can help the child with the playtime that they naturally desire with others. When they don't have peers or siblings to engage in play with, then they do depend on their parents to be their playmates. Parents can find friends of their child's own age to provide them with the engagement and play they need and want.

7. Find Activities to Engage Your Child With Their Peers

There was a window of time—before I had our twins and when our foster daughter was no longer living with us—when it was just our own daughter in our home. That was a great opportunity for me to get out of the house and find places and activities that would engage our daughter with her peers. She was over a year old by that time, so she was ready to play with other children and have activities that would help with her development.

Library Story Time

One activity that we enjoyed was the library storytime. Most public libraries offer programs for parents and their kids. These storytimes often have stories being read along with additional activities that engage the children and require interaction with all of them together. Such activities we have done during the library storytime include parachute time and crafts. If you are with your child at storytime and they are getting along with other children there, then take the opportunity to introduce yourself to their parent. You can even ask if they would like to get together at a local playground in the future since they play well together.

MOPS

Mothers of Preschoolers (MOPS) is an international organization. They typically meet at local churches and there are programs for the mothers while the children are cared for together in the nursery. This allows the children to play with their peers while moms can connect with fellow moms. You can find a MOPS group near you by going to the MOPS Website.

Baby Gym

You can sign your little one up for baby gym classes. There are a variety of businesses that offer programs and classes that are geared specifically for babies, toddlers, and children. Some of these businesses include My Gym, The Little Gym, and Gymboree. These types of locations and the classes they offer provide a great opportunity for children to play with their peers as the classes are typically grouped by age. Our family has attended classes at three different baby gym locations. My kids loved the activities and meeting with kids their own age. It was also how I met several of my closest friends when our family moved across the country. These ladies had kids the same age as mine, so I invited them to my home for a playdate. I had snacks for the children, coffee for the moms, and the kids had fun playing together in our playroom area. Don't miss opportunities to connect with parents who have kids the same age as your own child. You may create some friendships for life!

Other Classes

I have taken my kids to music classes and swimming classes. In both of these instances, they were able to connect with children their own age. Again, it is an opportunity to meet fellow parents, so you can arrange playdates or playground meet-ups with fellow parents who have children the same age. Some other types of classes and activities that you may find locally—by googling your location and the type of activity—include kid's yoga, "mommy and me" cooking classes, children's museum programs, and baby sign language classes.

Final Thoughts

The biggest takeaway for parents raising an only child is understanding that their kid will need socialization with their peers. Since they don't have any siblings, the parents must get their kids out of the house and find places where they can play with children their own age. Parents can be intentional about this by seeking out activities and classes that are geared for their child's age. Then, they can take that opportunity to connect with other parents so that playdates can set up with their new friends in the future.

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Tuesday, December 22, 2020

Stunning Great Conjunction Photos to Brighten Spirits This December

The Great Conjunction of Jupiter and Saturn brought stargazers outside last night to try and catch sight of a once-in-a-lifetime event. If it was cloudy or foggy you were and you didn’t get to see the ‘Christmas Star’ on winter solstice? Not to worry. Everywhere from Iran to California, photographers took dazzling images of two planets […]

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