By Micah Richards

On CNN today, there was an article about Corey Carter, and how he is spending about a quarter of his paycheck towards gasoline to drive to work.

There is so much focus on the price of gasoline, the housing market, and our economy right now. I have noticed other minor changes in the economy. I have listed them below, and you probably have noticed similar things in your local area.

There was an advertisement from an internet provider. I remember about a month ago, they offered cable, telephone, and internet for $100. They recent advertisement was for all three for $88.00.

Fast food treads throughout the United States are going more to the $1 menu. Even for breakfast, you can find a list of items of $1.00

Restaurants are offering special prices for meals if you combined them. They even are offering happy hours, or special times when you can come and get more of a discount.

Department stores have been having more sales focusing on discount prices, and event sales.

Car dealerships are offering free gas for a year or no interests for the first year.

These are a few things I have noticed.

Everyone wants your business, and every business wants to survive.

Everyone is waiting for the stimulus checks to start coming in. What will you do with your check?

I predict in late April you will see more advertisements focused on the rebate check. You will see stores sending out special sales they are going to have in May.

You need to decide on what you want to do with your check.

By Micah Richards

With the weather warming up, I have been taking my children on walks outside. On these walks, I have noticed aluminum cans dotted throughout the roads, and in the parks. My grandfather use to save his aluminum cans for me, and we would recycle the cans together. I would get anywhere between ten to twenty dollars. I remember thinking $20.00 was sure a lot of money, and just for picking up these cans.

As I was on these walks, I started to think the same way when I was as a child. What could I do with $20.00? It could help with any bill, help buying groceries, help with paying for gas, or buy a gift for someone.

So I got out a grocery bag, and put it in the back of my car. I also stuck an empty bag in my kids’ stroller. It is not extra work while on the walk, I just need to bend over and get the cans. Some people may look at me funny, or think I am in poverty. That is not the point, I am doing well financially. It is just extra money I can use somewhere else.

Just from taking my kids on a walk and picking up cans on the ground. Those that may think less of us for collecting cans do not have a millionaire mindset.

I do not dig in trash cans, or in dumpsters to get the said cans, only the ones on the ground.

Since I have started this, I have noticed my-coworkers tossing aluminum cans in the trash cans. I took one trash can, and put signs up to toss the cans in the garbage bag.

I know you can not become rich by recycling alumni cans! But you can help in your payments, or you even may want to take the money and save it for a trip.

What makes you happy?

According to our consumer spend happy society, we need to spend or make a lot of money.

Talk about an unhappy assumption.

Studies are now being done as to what makes us happy. According to experts about 50 percent of our happiness is genetic. This is something we are likely to control. You are either a half full or half empty type person.

Studies say another 10 percent is, in fact, dependant on circumstances like the ones mentioned above, and the remaining 40 percent is to be determined by you.

It was proven a long time ago that beyond a certain level of comfort, money doesn’t make us happy. I do believe how it is earned can make you happy however. If you constantly have to work for money then happiness may be fleeting. Buying more “thingsâ€? will not make you happy. (But having a greater sense of control over our finances makes all of the difference.)

Americans have bought into the idea that more is always better. Really? Says who?

I have seen more anxiety, frustration and disorganization from people who try to “have it all� buying things will not make a difference in our overall happiness.

One of the biggest things that I have noticed is that people choose the wrong profession for the wrong reasons. It makes sense that if you hate your job, then money issues can be that much more uncomfortable. If you find that you are in that situation then it is time for you to evaluate your priorities. Find out what you love, then do it. Learn to downsize. Move out of that larger home. Trade in the deluxe automobile you have. Learn to live a simpler life and be content with it.

By John Packard

Many of my clients have told me that their goal is to accumulate $1 million dollars for their retirement.
This is a noble goal and could provide many people with a great deal of financial independence. Many folks could
get by on far less. This is especially true if you have no debt. We have provided some information below that will point out what you will need to reach your respective goals.

The information below shows how much you need to save each month to accumulate $500,000, $1 million or $2 million by age 65, along with strategies for achieving that goal. At age 25, you’re starting from scratch. At ages 35, 45 and 55, we assume you already have money in savings, on which you’re earning 8% annually.

AGE 25

You’ve saved: $0

To reach $500,000, what you need to save per month: $143
To reach $1 million, what you need to save per month: $286
To reach $2 million, what you need to save per month: $573

Get help from Uncle Sam: You may qualify for a retirement-savings tax credit of 10% to 50% of the amount you contribute to an IRA, 401(k) or other retirement account. The credit can reduce your tax bill by up to $1,000. To qualify, your income must be $25,000 or less if you’re single, $37,500 or less if you’re a head of household or $50,000 or less if you’re married.

AGE 35

You’ve saved: $0

To reach $500,000, what you need to save per month: $335
To reach $1 million, what you need to save per month: $671
To reach $2 million, what you need to save per month: $1,342

You’ve saved: $25,000

To reach $500,000, what you need to save per month: $152
To reach $1 million, what you need to save per month: $488
To reach $2 million, what you need to save per month: $1,159

Get help from your boss: If your employer offers a matching contribution, contribute at least enough to your 401(k) to capture the full match. Otherwise, you’re walking away from free money. Try to save 15% of your gross income for retirement, including your employer match.

AGE 45

You’ve saved: $0

To reach $500,000, what you need to save per month: $849
To reach $1 million, what you need to save per month: $1,698
To reach $2 million, what you need to save per month: $3,395

You’ve saved: $25,000

To reach $500,000, what you need to save per month: $640
To reach $1 million, what you need to save per month: $1,489
To reach $2 million, what you need to save per month: $3,186

You’ve saved: $50,000

To reach $500,000, what you need to save per month: $431
To reach $1 million, what you need to save per month: $1,280
To reach $2 million, what you need to save per month: $2,977

You’ve saved: $100,000

To reach $500,000, what you need to save per month: $12
To reach $1 million, what you need to save per month: $861
To reach $2 million, what you need to save per month: $2,559

Play catch-up: Aim to contribute the maximum $15,500 to your 401(k) this year or $4,000 to your traditional or Roth IRA. Once you turn 50, you can contribute an additional $5,000 in catch-up contributions to your 401(k) and an extra $1,000 to your IRA.
AGE 55

You’ve saved: $0

To reach $500,000, what you need to save per month: $2,733
To reach $1 million, what you need to save per month: $5,466
To reach $1 million, what you need to save per month: $10,932

You’ve saved: $25,000

To reach $500,000, what you need to save per month: $2,430
To reach $1 million, what you need to save per month: $5,163
To reach $2 million, what you need to save per month: $10,629

You’ve saved: $50,000

To reach $500,000, what you need to save per month: $2,126
To reach $1 million, what you need to save per month: $4,859
To reach $2 million, what you need to save per month: $10,326

You’ve saved: $100,000

To reach $500,000, what you need to save per month: $1,520
To reach $1 million, what you need to save per month: $4,253
To reach $2 million, what you need to save per month: $9,719

You’ve saved: $200,000

To reach $500,000, what you need to save per month: $306
To reach $1 million, what you need to save per month: $3,040
To reach $2 million, what you need to save per month: $8,506

By John Packard

In 2008, the rich are likely to be uttering a new mantra — downsizing.

The fallout from the debt-market crisis, along with growing concerns about inequality and the environment, are likely to usher in a year of moderation for the rich.

The current economy lends to caution. The new gilded age may be at an end. It is time for anyone serious about money to be cautious, eliminate debt and look for opportunities.

Conventional wisdom today says the wealthy are exempt from the forces of economic gravity. The idea is that you don’t have to worry much about money once you reach a certain level. That is complete perception of course. The rich will need to downsize going forward as well.

The rich (especially the super-wealthy) always will fare better than the average consumer, since they have more of a financial cushion. Yet because so much of today’s wealth is tied to financial markets, the wealthy will feel the effects of any dramatic decline in stock markets, hedge funds and private equity. One key issue: Mergers and acquisitions — the main drivers of big wealth — could die down with tighter credit.

As of today March 7, 2008 we saw some hedge funds collapse.

The rich have also been funding their lifestyles with debt — from art loans and jumbo mortgages to jet financing. So if credit contracts further, high-end spending also will shrink.

Some wealthy families have been investing heavily in the sub prime derivatives markets. They invested with the confidence of realizing a high return which they did, for a while. Now days, they can not give theses instruments away.

The runaway prices for art, wine, vintage cars and other collectibles are sure to slow next year. And so far, prices of collectibles have held firm. Yet the markets have become so overrun with financial speculators or the noveu rich bidding up the prices of these non correlated assets to unsustainable levels.

The rich are also likely to become political targets this year as things look good for a democratic presidential nominee. The Democrats idea of rich is however flawed. A family making 50-60k will pay an extra $2k per year if any proposed tax reforms are to go through.

The government does a fantastic job redistributing resources (sarcasm heavy here)