Who Am I? Poem by a Poet Name Kayo

This blog has always been intended to inform and entertain with the end result always being to inform. I want you to take a good listen at this poem and tell me what you think. Whats the feeling that you get ? right from the back I would say that it’s the power of his voice and conviction by which he delivers the words. Everything that has to do with personal finance whether its saving more money, investing, looking for a better job, buying a house or getting an apartment it all requires determination and power. I got this video from YouTube. The author of the poem is Kayo in Season 1 Episode 2 of Def Poetry Jam.

http://www.youtube.com/watch?v=ZePzGvxJyuM&feature=related

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Best New Jobs in America (According to CNN)

Technology is moving at  warp speed. Not that long ago we were talking on cellphones that were the size of bricks. Do you remember beepers and the codes for messages ? Did you have Nintendo 64 and Gameboy ?. Facebook, Twitter and for a short while MySpace deeply affected how we communicate and associate with one another. All of these technologies to communicate with one another has created new forms of art. These new forms of art inspires people and in turn affect what we make and how we make them.

I was reading an article on CNN money which showcased  the best new jobs in America. A lot of them sound like they need someone not just with technical know how but creativity. For example one of the jobs is a video game designer. The medium pay is $52,200 with a projected growth rate of 32.4%. The next one is a Solar Sales Consultant with a medium pay of $45,100 and a projected growth rate of 16.4%. If you have a passion for protecting the environment than maybe you should be a sustainable Consultant with projected job growth of 18.7% and medium pay of  $59,200. According to CNN, “What they do all day? Whether finding ways for a company reduce its carbon footprint or helping a client access the life-cycle of its products, these eco-warriors help businesses align their practices with the principles of sustainability. ” I think these new jobs are interesting and at the cutting edge of technology and new social movements. Click here to see the full article by CNN.

The picture is by  Moyan_Brenn_BE_BACK_on_10th_OCT’s.

Roth IRA v. Traditional IRA

Roth IRA and Traditional IRA have key differences but both help you save money towards retirement. I will not advice which one works best  because each person’s life is different. According to CBS Money watch ”

  • With a traditional IRA, you can’t contribute after you attain age 70-1/2. At that age, you must start making minimum withdrawals or incur substantial penalties. With a Roth IRA, you can contribute at any age, and you’re never required to make minimum withdrawals. So if you’ve attained age 70-1/2, your decision is made for you — you can only contribute to a Roth IRA.
  • With a traditional IRA, you’ll incur a 10 percent early withdrawal penalty if you withdraw your contributions or investment earnings before age 59-1/2, unless an exception applies. With a Roth IRA, you can withdraw your contributions at any time. There will be a penalty if you withdraw your investment earnings before age 59-1/2, unless an exception applies.”

Even if you are in your 20s you should start saving for retirement because you are never too old to start doing so.  I like the flexibility of Roth IRA; it offers the chance to invest in ETF’s, stocks, bonds, Real Estate or (REIT’s) without having to worry about paying taxes on gains.  Another thing that I like about the Roth IRA is that you can use the money to buy a home. Click here to get further information on Roth IRA. If you want to compare Traditional IRA and Roth IRA click here.

The most expensive Election Ever

I came across this video from BBC which explains the cost of the U.S election. I find it very concerning. What do you think ? Just click on the link watch the video and then respond. I hope its interesting. http://www.bbc.co.uk/news/magazine-20163081

Financial Coaches vs. Financial Advisors

Financial advisor vs Financial coaches. Do you know the difference ? According to Money track, a financial advisor is “a professional who renders financial services to individuals,” on the other hand financial coaching is “a future-focused practice with the aim of helping clients determine and achieve personal goals.” While the financial advisor works with the wealth you have already accumulated a financial coach helps you build that wealth from the start. Money track provided a wonderful example of the difference between the two by asking “Would you rather go to a greenhouse and buy a plant?  Or go to a greenhouse, buy the seeds, learn how to nurture them and watch them grow? “. For this reason seeking and utilizing reputable financial coaches is a very good idea and its at the reach of anyone. They might sound the same but are in fact different. If you want to learn more information about the differences click here. In NYC there are groups like Neighborhood Housing Services of NYC (NHSNYC)  that offer financial coaching. To get the official list of organizations that are offering financial coaches please click here and it will take you to NYC government website.