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[Motivation Monday] Do What You Love & Love What You Do

Do what you love.

When you do something you truly love, you’re bound to give it your best. It is our opinion that people should strive to do the things they love, follow their passion, and always be in tune with their core desires.

To achieve this, it’s necessary to get to know oneself and fight against other people’s expectations if necessary.

There are too many people who don’t make time for their needs or are hesitant to even acknowledge them because they want to please others.

Sometimes what we love is not really what (we think) others want for us, and sadly, that stops us from even trying. Most of the time, those expectations are well intentioned, but we should strive to do what we love. That way, we’ll be fulfilled, and inevitably, those who surround us will notice.

However, other people’s expectations aren’t always the reason we don’t follow our passions.

Sometimes, what’s really holding us back from living the life we want are negative, repetitive thoughts — usually driven by fear and self-doubt.

If this is you, please stop and believe in your self-worth. Take action as soon as possible. We’ve said it once and we’ll say it again: invest in yourself. Whether it’s improving your health, your overall life, or properly managing your finances, consider it an investment and do it as an act of love to yourself.

Imagine you just bought the house of your dreams. You hire the best designer, and the house ends up looking picture perfect. It’s the gem of the neighborhood. However, a mistake in the foundation was left unnoticed, and now it’s starting to affect the house from the inside out.

This is kind of what happens when we just focus on our outside appearance, trying to build a perfect image of ourselves to please others instead of nurturing and evaluating our own foundation.

That’s why we need to invest in ourselves first. Taking care of our emotional, physical, and financial needs is the foundation that will allow us to find and do what we love. Every single one of us is gifted in one way or another.

Give yourself permission to use your gifts and enjoy what life has to offer.

Aspire to do what you love and enjoy your journey.

What if doing what you love is not always possible? You do have another choice: Loving what you do.

We can wake up tired and defeated, or we can try everything in our power to make the most out of our days.

From the very moment we wake up, there are a ton of choices that consciously or not, we have to make, and the average of those tiny decisions not only piles up but also has the capacity to make or break our whole day.

We can either complain about stuff or find the silver lining in every cloud. We can take our family for granted or be thankful for the ones we’ve got. We can focus on our material possessions or take a couple of minutes to appreciate the wealth in our lives. We can worry or we can do something and start either coming up with solutions or asking for help.

We can choose to love what we do.

And if we love what we do, we’ll end up doing what we love.

This isn’t about conformity or mindless optimism; it’s about realizing that every coin has two sides, and most of the time, we’re capable of finding joy, inspiration, and new paths just by flipping that coin.

Why focus on everything that’s not under our control when the things we actively have a say in can make an impact in our lives?

PLJ Income - loving what you do doesn't mean you are never going to be faced with trials

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[Financial Friday] Quiz: Which Birthdays Are Financial Milestones?

When it comes to your finances, some birthdays are more important than others. Take this quiz to see if you can identify the ages that might trigger financial changes.

Which Birthdays Are Financial Milestones

Questions

1. Eligibility for Medicare coverage begins at what age?

a. 62
b. 65
c. 66

2. A child can stay on a parent’s health insurance plan until what age?

a. 18
b. 21
c. 26

3. At this age, individuals who are making contributions to a traditional or Roth IRA or an employer-sponsored retirement plan can begin making “catch-up” contributions.

a. 50
b. 55
c. 60
d. 66

4. This age is most often associated with drops in auto insurance premiums.

a. 18
b. 25
c. 40
d. 50

5. Individuals who have contributed enough to Social Security to qualify for retirement benefits become eligible to begin collecting reduced benefits starting at what age?

a. 62
b. 65
c. 66
d. 70

6. To obtain a credit card, applicants under this age must demonstrate an independent ability to make account payments or have a cosigner.

a. 16
b. 18
c. 21

Answers

1. b. 65. Medicare eligibility begins at age 65, although people with certain conditions or disabilities may be able to enroll at a younger age. You’ll be automatically enrolled in Medicare when you turn 65 if you’re already receiving Social Security benefits, or you can sign up on your own if you meet eligibility requirements.

2. c. 26. Under the Affordable Care Act, a child may retain his or her status as a dependent on a parent’s health insurance plan until age 26. If your child is covered by your employer-based plan, coverage will typically end during the month of your child’s 26th birthday. Check with the plan or your employer to find out exactly when coverage ends.

3. a. 50. If you’re 50 or older, you may be able to make contributions to your IRA or employer-sponsored retirement plan above the normal contribution limit. These “catch-up” contributions are designed to help you make up a retirement savings shortfall by bumping up the amount you can save in the years leading up to retirement. If you participate in an employer-sponsored retirement plan, check plan rules–not all plans allow catch-up contributions.

4. b. 25. By age 25, drivers generally see their premiums decrease because, statistically, drivers younger than this age have higher accident rates. Gaining experience and maintaining a clean driving record should lead to lower premiums over time. However, there’s no age when auto insurance rates automatically drop because rates are based on many factors, including type of vehicle and claims history, and vary by state and insurer; each individual’s situation is unique.

5. a. 62. You can begin receiving Social Security retirement benefits as early as age 62. However, your benefits will be reduced by as much as 30% below what you would have received if you had waited until your full retirement age (66 to 67, depending on your year of birth).

6. c. 21. As a result of the Credit Card Act of 2009, credit card companies cannot issue cards to those under age 21 unless they can show proof that they can repay the debt themselves or unless someone age 21 or older with the ability to make payments cosigns the credit card agreement.

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[Motivation Monday] Bitter or Better: What’s Your Choice?

During hard times, it’s easy to become bitter. You have two choices at this junction in your life.

You can become bitter, or you can become better.

PLJ Income - You either get bitter or you get better

Let’s face it; bitterness is often an easier road.

It’s easier to sit and feel sorry for yourself. It’s easier to dwell on the negative things about yourself and your life. It’s easier to allow yourself to sink into despair. Most of all, it’s easier to seek the attention you’ve lost by encouraging others to pity you. Eventually though, others lose interest.

Alternatively, you can choose to become better. Becoming better is a far healthier option.

Becoming better is a great way to toss back the curve ball life has thrown you. Becoming better means seizing the opportunity for change. Becoming better means welcoming a new you.

With a new you, you can rebuild your life

Starting over has so many benefits. Today is the perfect day to begin. You’ve spent the past years wearing shades of gray, now it’s time to embrace color.

Release any regret over former mistakes; embrace the life lessons they taught you.

Going through hard times is not a setback; it’s an opportunity.

Assess what you like about your life and what you want to change. Compromise no longer rules you. All those things you denied yourself are still there. You can have them. Nothing is holding you back.

You have a clean slate.

Make over your attitude

Don’t waste time dwelling on the past

Let go of the past. Slash negativity from your thoughts. Just because others disappointed you doesn’t mean you have to let their actions drag you down. Turn negatives into positives by focusing on what you’ve learned.

Choose to forgive those who have hurt you. Although they did not have the right to hurt you, dwelling on the things they’ve done will only hold you back.

You don’t need to talk to them to forgive them. You don’t owe them that. They will have to come to terms with what they’ve done on their own—that’s not your issue.

But you do owe yourself the opportunity to move forward.

Remember, forgiving does not mean forgetting; it only means releasing any bitterness that restrains you.

Once you make a conscious decision to be better, you can shed the negativity of the past. Gone are the destructive and depressing thoughts that have long held you hostage. Over time you will become a new person.

Celebrate the chance for a do-over

Use positive thoughts to chase away the negative ones.

Write out your hopes and dreams. The future is yours. Be thankful you finally have an opportunity for a do over.
If you find yourself struggling, smile. Yes, that’s right, smile. Smiling helps you keep your momentum. Smile through the tears. Smile through the pain. Whatever you do, keep smiling. It takes fewer muscles to smile than to frown. Studies show the act of smiling actually makes you feel better.

Treat yourself to new things

Indulge yourself. You took care of everything for so long you forgot how to live on your own.

Give yourself permission to do what you want to do. Gone are the days when you had to worry about someone else’s opinion.

Change your wardrobe. Try new make up. Have a yard sale and get rid of your old stuff. Then, go buy new things. Select only the things that make you feel good about yourself.

Try new things

Make a list of everything at which you excel. There are more than you think. Include the small things. Are you good at gardening? Can you cut an amazing snowflake out of a piece of paper? Are you a good friend? Write down the things you would like to be good at but never had the time for, and then figure out how to get there.

Find new hobbies. Start by listing the things that have made up your daily routine. Replace that list with a list of things you want to try. It’s that simple.

Get moving. Take a class you’ve always wanted to take. Introduce yourself to new people. Spend quality girl time going out for coffee, lunch, or dinner.

Mix things up. Avoid things and routines that were part of your previous life. They might spark haunting memories. Today is only the here and now.

Make over your surroundings

Do that one thing you’ve always wanted to do to your home. You know what I’m talking about. Repaint. Redecorate. Move furniture. Toss that ugly couch. You’ll find it freeing to finally make those changes you’ve always wanted.
Change rooms around and change your bedding. In fact, change your bed. Move into another bedroom, or move the furnishings around in the room that you’re in. It’s amazing how much impact this one simple step can have.

Make over your finances

Now is your time to shine. Rebuild your credit one account at a time. Focus on learning to budget by writing out your goals, and your dreams. Keep a journal to track your spending.

Decide on your financial goals.

Then, make it happen. Celebrate your small victories by rewarding yourself. Hot fudge sundae anyone?

Focus forward

When you focus on the bitter, you inhibit your ability to enjoy life. Forgive the past and remember that without this experience you wouldn’t be the woman you are today. Instead of being angry, be thankful for the fresh start. Today you can do anything you want.

You’re in charge.

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[Financial Friday] Can You Get to a Million Dollars?

Often in life, you have investment goals that you hope to reach. Say, for example, you have determined that you would like to have $1 million in your investment portfolio by the time you retire. But will you be able to get there?

Can you get to a million dollars?

In trying to accumulate $1 million (or any other amount), you should generally consider how much you have now, how much you can contribute in the future, how much you might earn on your investments, and how long you have to accumulate funds.

Current balance–your starting point

Of course, the more you have today, the less you may need to contribute to your investment portfolio or earn on your investments over your time horizon.

Time (accumulation period)

In general, the longer your time horizon, the greater the opportunity you have to accumulate $1 million. If you have a sufficiently long time horizon and a sufficiently large current balance, with adequate earnings you may be able to reach your goal without making any additional contributions. With a longer time horizon, you’ll also have more time to recover if the value of your investments drops. If additional contributions are required to help you reach your goal, the more time you have to target your goal, the less you may have to contribute.

The sooner you start making contributions, the better. If you wait too long and the time remaining to accumulate funds becomes too short, you may be unable to make the large contributions required to reach your goal. In such a case, you might consider whether you can extend the accumulation period–for example, by delaying retirement.

Rate of return (earnings)

In general, the greater the rate of return that you can earn on your investments, the more likely that you’ll reach your investment goal of $1 million. The greater the proportion of the investment portfolio that comes from earnings, the less you may need to contribute to the portfolio. Earnings can benefit from long time horizons and compound rates of return, as returns are earned on any earlier earnings.

However, higher rates of return are generally associated with greater investment risk and the possibility of investment losses. It’s important to choose investments that meet your time horizon and tolerance for risk. And be realistic in your assumptions. What rate of return is realistic given your current asset allocation and investment selection?

Amount of contributions

Of course, the more you can regularly contribute to your investment portfolio (e.g., monthly or yearly), the better your chances are of reaching your $1 million investment goal, especially if you start contributing early and have a long time horizon.

Contributions needed

Now that the primary factors that affect your chances of getting to a million dollars have been reviewed, let’s consider this question: At a given rate of return, how much do you need to save each year to reach the $1 million target? For example, let’s assume you anticipate that you can earn a 6% annual rate of return (ROR) on your investments. If your current balance is $450,000 and you have 15 more years to reach $1 million, you may not need to make any additional contributions (see scenario 1 in the table below); but if you have only 10 more years, you’ll need to make annual contributions of $14,728 (see scenario 2). If your current balance is $0 and you have 30 more years to reach $1 million, you’ll need to contribute $12,649 annually (see scenario 3); but if you have only 20 more years, you’ll need to contribute $27,185 annually (see scenario 4).

Can You Get to a Million Dollars tableNote: This hypothetical example is not intended to reflect the actual performance of any investment. Actual results may vary. Taxes, fees, expenses, and inflation are not considered and would reduce the performance shown if they were included.

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[Motivation Monday] 10 Healthy Habits That Will Help Improve Your Life

It’s great to set goals and plan for the future because it gives us clarity and something to fight for. From the right perspective, goals are like fuel that makes us run and get to our dream destination.

But we often forget that we have to start that journey now, in the present. Otherwise, those goals would stay far away in some kind of dreamland.

Nobody knows what the future holds, so it’s right now, this very moment, that gives us the opportunity not only to look forward to the future but also to enjoy the journey.

True, we can’t completely control what’s yet to come, but we can control our habits. Creating (and sticking to) healthy habits will help us close the gap between what we have and what we want.

PLJ Income - You don’t decide your future. You decide your habits and your habits decide your future

This is all about taking action in the present moment, so without further introduction, let’s get to it.

Here are 10 healthy habits that will improve your life.

1. Move around.

This is an oldie but goodie. Just about every list of healthy living or “how to be happy” guide encourages you to exercise frequently. And it’s true. Our bodies are meant to move. So if you don’t workout already, just stand up and stretch more frequently, or create a list with your favorite songs to dance to. Movement and exercise are proven health and mood boosters. Physical activity is definitely a great way to improve your life.

2. Get out more.

Outdoor activities are fun, usually involve physical effort, and give us a chance to live different experiences. Granted, having lazy days is great, and there’s really no reason why you shouldn’t have them. However, staying in every day can lessen your creativity and make you cranky. Always try to incorporate outdoor activities that make you want to jump of the sofa at least twice a week.

3. Make your bed.

This might sound strange, but making your bed and your bedroom a clean, inviting space can actually make you sleep better. Studies have proven that a well-made bed is an important part of the sleep process. Good sleeping habits are so important for one’s health, this simple little trick turns out to be an essential habit for our wellbeing.

4. Limit your social media time.

No surprise here, right? Social media offers us a chance to connect with loved ones and limitless information, but let’s not kid ourselves — it can just as easily lead us into a hole of procrastination and comparison games that results in hours of just scrolling through meaningless images. In order for you to focus on your goals, setting a specific amount of “social media time” is a great habit that’ll give you more time to yourself.

5. Do first things first.

Forget about multi-tasking! Give your all to the things you want to do. Concentrate and do the best you can. Whether you achieve the expected results or not, you’ll still have a sense of fulfillment if you know deep down that you really tried to conquer something. Why wouldn’t you give 100 percent of your attention to the things that matter to you? Prioritize and act accordingly. A handy little trick to this is to pick the most important task or chore you have to do, and do it first thing after breakfast. That way, your mind will be less cluttered throughout the day.

6. Meditate.

Meditation is a really powerful tool; it benefits the mind, body, and soul. And one of its greatest qualities is that it doesn’t have to be complicated at all. Although there are many types of meditations, you could just opt for closing your eyes and practicing some deep, conscious breathing. If you want to set the mood, you could buy an aromatherapy candle and put soothing music on. Just remember, meditation is a break from the fast-paced, stressful world we live in, so don’t worry about whether you’re using a fancy technique or if you’re doing it right. As long as it helps you unwind, you’ll be fine.

7. Communicate.

No matter who you are, you have people who care about you. Communicate with them. Treasure your friends and family. Sometimes, we can be so caught up doing “urgent” stuff, we forget that relationships and communication don’t grow all of a sudden; we need to take care of them. Make the habit of keeping in touch with the people who care for you and whom you care about.

8. Keep track of your finances.

Having financial instability is a common source of anxiety and frustration, and that obviously takes a toll on your overall health. Keeping track of your finances is not only a smart habit that can make you become (or continue to be) financially independent, but it’s also good for your health and relationships. If you’re currently struggling with your finances or have been in that position, you know how frustrating it can be. Don’t wait any longer; take control of your economic situation.

9. Get comfortable with yourself.

You’re never truly alone if you learn how to be comfortable with yourself. Learn to enjoy quiet moments in your own company, and your mood will improve. Become friends with yourself, and you’ll see a difference in your life.

10. Reward your efforts.

This is the habit that will make you stick to other habits: reward yourself. You don’t have to practice all these habits at the same time; tackle them one by one and give yourself an A for effort.

Let’s say you went jogging three days in a week. You could take the sour route and think about how you could have gone jogging every weekday if you had just woken up a little earlier — or you could take the encouraging route and congratulate yourself because you actually did something good for your mind and body when you could’ve just stayed in bed.

Don’t be perfect. Nobody is. Focus on your efforts and reward them. That’s how you stick to good habits.