Comments on: Take Some Time to Make More Money

By: lifeisdynamic

lifeisdynamic — Wed, 11 Jan 2012 06:37:31 +0000

I have achieved the degree, the career and the house (and the family) – its the financial security and being near to retirement which is the problem at my near-to-retirement age and is just as you suggest. For various reasons, financial security along the way could not be assurred in my younger years. Now its all out “gang-busters” (Aussie expression) to achieve whatever I can through savings and ‘safe’ investing. Is there such a thing? Well, yes and no! The Australian Government Guarrantee is a guarrantee to ensure a depositors capital placed into Term Deposits will at least return capital investment if there should be a problem with the financial institutions not being able to return the interest on the your capital investment. The financial institution rate of interest for the term deposit is often lower than the returns on some other investments, however, it is often better than bank interest at any given time. The safety-net for investors is the government guarrantee which ensures the capital invested is returned to the depositor without loss at the end of the investment period should something catastrophic occur to prevent the financial institution from giving a dividend on your investment.
Now I don’t know if this is one of the ways Moneyning is referring to for those of us who would like to improve their financial situation, even in retirement or nearing retirement and at least be safe. It is not a clever means of saving taxes, because tax is payable on the interest earned. However, while I am working, I am salary sacrificing which helps to reduce my tax liability. It would be helpful Moneyning if you could offer some suggestions for those of us soon to be out of the workplace and needing to preserve savings and yet still make money.

By: FinanciallySmart

FinanciallySmart — Wed, 25 Nov 2009 16:11:01 +0000

Oftentimes, we forget the important connection between time and money, as there are many ways that we squander time that will negatively impact our money. Since time really equates to money, then it stands to reason that if you waste time, you’re effectively wasting money. You also need to quantify all the money that you stand to lose when you don’t use your time effectively.

By: The Blue Leaf

The Blue Leaf — Tue, 17 Nov 2009 13:15:38 +0000

Great post. It is important to do something else to make more money, no just the job. It increase possibilities of reach financial freedom and improve your community. It is important to write in a paper what you want to do. Writes demand mental focus. And please eliminate the Lone Ranger Syndrome. The new entrepreneur have to ask help or guidance. Someone is in where you want to be. We teach that in our programs. Thanks for the article.
The Blue Leaf

By: Financially Frugal

Financially Frugal — Tue, 17 Nov 2009 06:17:44 +0000

It’s all about priority at where you are in life. For me, in my opionion since I slack off in college. Now nearing 30, and working 2 jobs it’s:

Priority List:
1. Money
2. Time

Money come 1st so that I can save it for my long-life goals which are:

Goal List:
1. Get a MBA degree in my career
2. Buy a house
3. Be financially secure

And of course, those goals will consumed most of my time, but what would you do when near retirement you have nothing to retired on?

By: Tina Fortune

Tina Fortune — Tue, 17 Nov 2009 03:19:23 +0000

Great post. I started getting serious two years ago about my career and this year (2009) I earned a whopping 35% increase in my salary. Yes, in a “down” economy. Increasing my skills, earning another degree and becoming the “go to” person with the cheerful attitude worked in my favor. Since I’m a single mom of 3, I must say, I needed the income yet we are smart. I tithe, save 13% and we live off a strict budget. No latte factor here. Just a determination to live financially free.

By: Ken

Ken — Tue, 17 Nov 2009 01:54:15 +0000

I think we all need to improve ourselves, our skills, and our earning ability. If we work on ourselves and seek opportunities to earn more it is a worthy endeavor.

By: MoneyNing

MoneyNing — Sat, 14 Nov 2009 16:39:51 +0000

I agree that using our savings would allow us to not overvalue our time but since we can essentially control our savings rate to a degree (if you think about it, even the so called fix cost is controllable and changeable), it might not be the most accurate measure.

Instead of using our gross pay. Perhaps using take home pay is more appropriate?

By: MoneyNing

MoneyNing — Sat, 14 Nov 2009 01:38:54 +0000

You’re right. The long road ahead for me and my family is what keeps me wanting more money I guess. I think once I buy a house and pay off the mortgage, I’d be much more comfortable with living

By: Financial Samurai

Financial Samurai — Sat, 14 Nov 2009 00:48:08 +0000

Would it be fair to say that those who just focus on cost savings just don’t know HOW to go about making more money?

It perplexes me that people are trying to save $20/month on electricity and freeze to death, when they could just try and make a side income and generate $1,000+ just from an online site for example.

The median income for a 28 year old Top 20 MBA grad is $110,000. Guess what these guys are making at 35? Probably at least double if not 3-5X. If people want to make money, why not just do this? So many folks just tell me it costs too much, or it takes too much time. If that’s the case, then be happy with your curent income and stop whining.

By: CD Phi

CD Phi — Fri, 13 Nov 2009 22:26:07 +0000

In our everyday life, it is easy to value money over time because we constantly want to continue making more and more money. However, when you take a step back and think about it, time is worth WAY more than money-it’s actually priceless. In addition to that, I think taking time to THINK about making money is even more valuable because that way, you’ll develop better ideas and hopefully find a loophole to make more money rather than just bringing home the 9-5 income.