Tony Wiley Chicago - Knowing Your Investment Goals

Planning to begin your investment career without any preparation or planning?? Give it a thought once again. Have you ever given an exam in your school, without any preparation or ever you've attended a project meeting with a client without knowing anything about the project? This shows that just like any other task investment requires some sort of knowledge and home work. First time investors must know that this area requires some degree of skill and no luck can make them successful here.There is a huge probability of failing in your first attempt, so rather than just jumping in, do some research at your end and identify your investment goals.

Putting some thought before beginning your investment journey can be really helpful. You can navigate smoothly with a proper plan, whereas you can be easily misguided with no or little knowledge about the industry. Chalk out a proper plan and identify your objectives you wish to achieve by investing your hard earned money.

1. Will you be buying a house?

2. Want to save for retirement?

3. Want to fund your higher education?

These are a few things due to which people start investing. You must find out your reason to do so. Know how much money you would require to accomplish these goals and make a strategy. Know what you would be doing with the money that can help you make better investment decisions.

Don't invest with a dream of becoming a millionaire overnight. Have realistic goals and make efforts to fulfill your dreams. These false hopes of becoming rich overnight will just disappoint you, so rather than dreaming an impossible life, invest safe and live a beautiful life. Invest your money in a way that it grows slowly with a period of time and you get what you expected by the estimated time.

Take the help of a financial planner before making any investments. He will help you determine the best way to achieve your financial goals in less time. With his help you can anticipate realistic returns on your investments rather than just expecting an unrealistic amount. Investment decisions involve a lot of brainstorming and speaking with the agent, so make sure you share a good comfort level with your adviser. Do your research and begin a successful investment journey.

Before you start, defining any goals you may have will help you plan, budget and choose the right investments. Your goals might be around enhancing your current lifestyle, planning for your family or your own retirement.

Too often, others invest money with dreams of becoming rich overnight. This is achievable - but it is also rare. It is usually a bad idea to start investing with hopes of becoming rich overnight. It is safer to invest your money in such a way that will slowly grow over time, and be used for retirement or education. But, if your investment objective is to get rich fast, you should learn as much about high-yield, short term investing as you possibly can before you invest.

Some Amazing Investment Lessons Just For You

New to the world of investing? Here are some incredible tips for you.

You must have heard about the term impulsive shopping. This happens mostly with people when they are in a poor state of mind or are looking for an alternative to lift their mood. This results in shopping all the unnecessary stuff which disturbs the complete monthly budget. No planning and strategies work in this scenario. So. If you buy things you don't need, you will have to sell things you need. Never forget that a penny saved is a penny earned, so making more money does not just mean taking a second job. Good investors will keep a check on his expenses and will create good wealth by investing in assets that give him good returns over the long period.

People tend to buy the shares and stocks of a mediocre company at cheap price rather than choosing the established company with a great value. Over the long term they realize that these mediocre companies give lesser returns as compared to bigger and established companies. Undervalued stock with great stock can give you amazing returns if you are patient and diligent throughout. Invest your money whenever you are comfortable, but try to hold it for as long as possible.

Every investment involves some risk, so if that's what's holding you back from entering the investment arena, don't be afraid. Smart investors never measure performance solely on the basis of returns. If you'll be worried about losses all the time, then some amazing opportunities might slip away. Another important thing that most of the people forget are the negative effects of borrowing money. Buying a television at EMI is not really making simplifying things, in fact you are paying the processing fee which can be otherwise saved from taking such hasty decisions. Borrow money only when it's required and make sure you know all the additional fee you have to pay after borrowing that money. It is good to know about all the fee associated with it, so in case you find that this additional amount cannot be managed, then it is better to limit your borrowing.

Start Young & Stay Safe: Tony Wiley Chicago

You may not have any financial pressures in your young age, but with every passing day there will be new challenges and responsibilities. Debts, loans, mortgage and whatnot, you will be entangled in all these problems if you don't manage your financial life on time. You must understand that early investing can help you fulfill all your dreams. Your financial priorities might be different today, but as soon as you reach your retirement age, you will realize the importance of starting young.

Beginning at a young age will help you overcome all the mistakes and recover any sort of loss which is otherwise not possible with people who start late. You will have a good time to save money and invest it at different platforms. Explore diverse investing outlets and experience the benefits yourself. People who keep thinking and delay investing fear taking risks and contributing in outlets that can maximize their returns, but involve good risk.

You are aggressive and determined in your young age and this is the perfect time when you indulge in some good activities. Most of the Millennial can be seen living on a shoestring which is not a good sign. This is a poor display of their carefree attitude and aimless life. Don't go with the flow and develop some good habits like saving more. You will be amazed to see the benefits of these savings in the future, so make sure you improve your spending habits before it's too late.

By starting early, you can also experiment with your investments. Invest a small amount of money in different vehicles and analyze whether they are useful to you or no. These small amounts in the beginning won't bother you, but the amount you'll save for your retirement with these disciplined savings will help you out tremendously. Another interesting reason to start young is to gain the maximum benefit of compound interest. Early you get started, the greater is the benefit because over the long run this interest will multiply and you can use these returns as a strong backup.

You will have a good time to understand the concepts of diversification, asset allocation and others that help you build good health. The only thing that can keep you safe is knowledge, so keep educating yourself and make the most by starting young.

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Tony Wiley: How To Maintain Your Financial Life

Tony Wiley Chicago - Life is full of ups and downs. It is difficult to predict what's coming next. You have to be prepared in all aspects to grip your life and prevent it from all the dangers that are thrown at you. I have handled different cases in my career, and the common aim of most of the people was to get stability in their financial life. Most of the people introduced them with an impressive confidence and had satisfactory knowledge about investments, whereas there were people who hesitated because of lack of knowledge and fear of losing money. Beginners would feel reluctant in an initial phase, but by taking the help of an advisor the journey becomes really exciting. A guide or a mentor will  support you through thick and thins. My responsibility as an advisor is to give a right advice to my clients and to make efforts to make their financial life secure and stable.

As a financial educator, it is the part of my job to mentor all those who seek help and want to achieve their financial goals. Managing finances is not hard as it sounds, you can balance the ups and downs in your financial life with smart planning and constant learning. People are always in the hurry to multiply their money, but this is not what a smart investor does. If you are contemplating a stress free life, then you need to think beyond raising money, and that is maintaining a positive financial condition throughout life.

Challenges and hard times can't be ignored, but you have to make yourself so strong financially that no mishappening can harm you. Saving is the most crucial step of investing. You can't achieve your aim by spending all your income on lavish parties, outings and shopping. Investment is a combination of planning and patience. It is hard for everyone to draw out money from the monthly income apart from all the expenditures, but that's how you save for your future. Initially start with a small amount and then gradually keep increasing the amount according to your comfort.

Plan your expenses beforehand so that all your money is invested in the right places. The investment plan will guide you in choosing a right direction. By following this strategy you will see a good transformation in your savings. Keep discussing your plan and ideas with your financial adviser, this will help him understand your goals more clearly and he can create a perfect strategy for you. 

Tony Wiley Chicago - Investing Tips For Millennials

Millennials like to stay safe and avoid all the risks associated with investments, which ultimately does not give them a chance to enjoy the benefits of investing money. Job market is extremely competitive, so the millionaires have to think more seriously about their savings. You must have seen that most of the college students struggling to repay the student loan debts. If you are a part of the generation Y, then here are some simple tips that can help you start your investment journey very easily.

If you are worried to enter into the world of stocks, bonds and mutual funds, then don't feel afraid because these fears are common among the beginners. Just find someone who has great knowledge to share with you and can offer unbiased advice in making a financial decision. You may also talk to your parents or contact their financial advisor. He can give you a step by step guidance or can supervise the plan you have created for yourself. He will tailor his guidance to your specific situation, because your needs will be completely different from the goals of the 45 year old.

Most of the millionaires think that it is too early to start taking such big decisions, but they fail to realize that this is the best time to invest. So many people waste most of their time waiting for the right moment. If you are not saving a part of your income, then I think it is high time that you must look for the right investment vehicle at priority.

Educate yourself and do your homework before taking anyone's advice. Don't just solely depend on someone else's ideas and thoughts, chalk your own plan and move according to the strategy. Everything in life involves a certain amount of risk, so don't hold yourself back. Explore the world of investment and don't just stick to the safer options because safer cash investments won't give your expected returns. Diversify your portfolio and reduce the overall risk of your investments.

Millennials miss most of the opportunities of their careless attitude. This is one of the worst things you can do with your investment plan. There is no point, creating an investment strategy if you are not going to follow it. Be an aggressive investor and an active maker to grab the opportunities. Keep yourself updated with the market happenings so that with every passing day, you develop the skills and gain knowledge about investing your money.  - Tony Wiley Chicago 

Investing Mistakes That Can Ruin Your Plans

Tony Wiley Chicago - We all are aware of the risks associated with investments. There are times when best of the ideas don't work out as expected, but it should not spoil your investment goals. People who are making investments for the first time often commit a few mistakes that can ruin their plans completely. Be successful in achieving your goals by avoiding these mistakes.

Don't lose hope on suffering loss in your first initiative. So many newcomers give up on experiencing a failure in their first attempt. There are chances that your ideas may not favor you, but it won't happen every time. There are always risks involved with all types of investments, so there is no point to hold the highly appreciated holdings for long. There are always risks that you'll sell the prices will keep increasing. You must protect your gains by selling a part of your holdings and reinvesting them in other investment vehicles. You just have to review your holdings on a regular basis and identify the portions that you won't be using soon. Just invest them elsewhere to re-balance your finances.

Always have an investment plan. No investment journey is complete without a proper strategy or plan. You must know the funding sources, types of investments you are interested in, how much risk you can afford and other things that will build up a road-map to achieve your aim. This plan will keep you informed about your next move and you can easily make arrangements for it beforehand. Take the help of an experienced person to know the insights of the market. It is hard to predict the market  fluctuations, so trying to buy and sell on such oscillations is not an easy job. Take advice from experts, but don't just follow it blindly. Always do your homework before taking any decision.

Make sure you evaluate your investments periodically as there are so many factors that can affect your funds. Be it the change in management, merger with any other company or sudden entry of a strong competitor, you must reevaluate your investment  always.

Are You Freelancing?

Tony Wiley Chicago - Freelancers can earn more or same than a regular job. There are so many freelance options in every industry. This wasn't the scenario a decade back, but today, you've got a bunch of opportunities. So many people aren't aware of the freelance options, which keeps them ignorant of the money making shortcut. This is one such interesting idea of earning money that can give you extra benefits on your traditional job. Enjoy the perks of working overtime or take a freelance assignment, money will flow into your account.

You are an experienced of the freelance market, then here you have a chance to skyrocket your rates. Everyone seeks the support or wants to work with an experienced professional. If you are in the job from the last few years, then this can be the time you must start earning more than before. Don't spoil the comfort zone with the existing clients, but pitch for the new clients who are ready to pay a good amount for your services. Lure the prospects with your talent and quote the price you would want him to pay for the job. Another way to increase your earnings through freelancing projects is by the choice of assignments. Take quality projects which value the work done by you. This way, your demand in the project will yield you good money automatically.

Grow your network and reign the market with your skills and talent. If you are well versed in your job, then people will definitely pay you extra from the existing price for that job. Just master your skills and see the people follow you religiously. Strengthen your online presence, and meet new people on the social websites like Squarespace. Join freelance groups online, and stay regular in the forums and discussions. Let people recognize with your valued suggestions and thoughts on the topic. This is the best idea of showcasing your skills on a large scale.

Initially, grow your connections by doing Pro Bono work. This move will expose you to larger corporations and businesses more easily. You can get good experience with the reputed organizations, and a chance to make influential contacts in your industry. Grow your income with these freelance projects and get closer to your financial goals. 

Prepare Yourself For The Retirement

Tony Wiley Chicago - You have spent so many years working hard and going through a daily grind to chase your dreams. It is the moment to slow down and think about the coming years of your life, often described as the golden years. Retirement: It is that phase of life when you wish to live to the fullest without any boundations and barriers. One more aspect of this golden phase that is not very pleasing is having no source of regular income . How do you wish to manage your daily expenses and complete your wish list without any money in your pocket? This is why you must be prepared for the changes in the retirement years or maybe you need to plan the things according to your wish list.

Firstly, decide a date of your retirement. This step will help you identify the time you have to plan for the final moment. The retirement date will keep motivating you to work harder and accomplish the goals you've set for your retirement. If you are aware that only a few years are left in the retirement, then it is easy  to finish of the most essential tasks within that time span. Just list down the things you want to do before the final day, and start completing them one by one.

Secondly, it is the time to know about your financial state. Savings, debts, mortgages, investments, expenses, etc. Prepare a retirement planning worksheet in which you clearly state all the figures of your savings on one column, mortgages and debts on the second column, expenses and investments in the third. It is said that at the time of retirement, you must have at least 70-80% of your current income with you. So, look at the chart and see where do you stand according to this figure. If you lag behind, then pull up the socks and start getting more active towards saving.

Debts and mortgages can also be counted in the expenses, as this money is gone from your account on regular intervals. On fixing the date of your retirement, you will know that in this short period, you have to overcome the pressure of these debts. You are definitely not willing to take the burden of these debts in your retirement years. The situation will get worse with no income and hefty debt amounts.

Talk to your spouse about your retirement plans and encourage their thoughts on these ideas. This conversation will help in understanding each others requirement for the later years of life, when both of you would like to have a peaceful life. Discuss and come to a common solution to all the money problems you need to solve before the retirement. A support from a family member in this planning plays a vital role in the success of the process.

Check The Background of Your Financial Planner

Tony Wiley - If you have worked with any good organization, then you would be familiar with the verification process conducted by the human resource department. This process is done to ensure the authenticity of your documents. In other words, you have to undergo a screening test to get a clean chit and to start your journey with any new company. So, how can you count on anyone without running a background check on your financial advisor?

It has been seen that most of the people who appoint the financial advisors don't bother to survey about the person they are hiring. There are various reasons which raise the need for an investigation before you get someone on board. If the person is found guilty of any charge, then you will feel disappointed on your decision. So, before you start a search for a financial planner, here are a few things you need to know.

You will be paying the financial advisor for the services. So, don't hesitate to ask questions before giving him your details. Be confident while talking to the advisor, and don't stretch the conversation. Ask him these questions. Have you undergone any investigation before by any regulatory body? Do you have a clean record? Were you put under trial or found guilty by your clients in the past? Cross check the details given by  him taking more information about the previous and existing clients. You can also ask for the references of the present clients with the same financial motives as yours. You can further clarify your doubts by talking to these people. They can tell you if it is worth spending on his services or not.

You can also extract detailed information about your financial advisor on the web. Just Google the credentials and check which administrator look after the designation. You can collect all the relevant information online which will help in taking a wise decision. It is said that the best litmus test to know whether you have met the right person is to ask him if he has the potential to beat the market. If the planner boasts about his market beating performance, then it is the right sign to leave the place.

Manage Your Money With A Budget

Tony Wiley Chicago - Life is a challenge for each of us is working hard and doing our best to make ends meet. For some it’s a struggle to pay bills, rent or loans. It is with an ultimate goal i.e. wanting a better place to live with enough money and no concerns about the bills. But, all this can only be possible if you are managing your finances carefully and keeping a check of your expenditure. Good money management can mean many things. It helps in living within our means, by saving for long short-term goals, it is also necessary to have a realistic plan to pay off debts.

Setting up a budget is necessary if you want to get to the top of your finances. Tony Wiley has spent years helping people get out of the web of debts. He has a keen knowledge of finances and provides people with right suggestions that helps to get on top of your finances. He suggests that the start of all is making a budget. It is the record you make of all the money you have coming in from all sources and the payments that you make including your rent, EMIs, insurance tax, living expenses and all the irregular expenses.

If you are spending each month, then budget is a great way to check where your money goes and where you can cut back on your expenses. Keep notes of all your spending, and try to analyze how much you spend in a month. This will help to have a clear picture about where you spend your money. Now days, smart phones have so many APPs that help keep a track of all the expenses. Once you have all the details as to where you spend your money it will be easier to plan.

Tony Wiley believes that loans or debts are a burden and the hardest part is paying them off. You may feel overwhelmed when you know you are struggling so it’s better to make a budget and allocate enough amount to pay all the debts. This way you will not miss out on your loan or credit card payments. Regularly save a little amount by adding it to the saving accounts. This will act as a backup in case you have any unforeseen emergency or  financial crisis in the future.

Shed The Burden By Paying off The Student Loans

Tony Wiley Chicago - Every student wants to get into the best college for the higher studies, and this expectation can be fulfilled only by paying a good tuition fee, because all the reputed colleges charge a high admission fee, which is not possible for the families with moderate income. In the hope to enter into one of the premiere institutes, the students and their families take loans, but these student loans   create a pressure which needs to be controlled on the right time and with some smart moves.

Frugal Lifestyle: Student life is about going with a flow, and not taking enough pressures, but at the same time it is that phase of your life when you can take some really smart decisions which can deeply affect your future. It has been found that most of the students suffer with their habit of uncontrolled spending, whereas some of them adopt frugal lifestyles right from the beginning to keep their financial life on track. The college students who cut their budget and avoid the wastage of money on the unnecessary resources manage to save a good contribution to pay off their loan debts. If you are striving to save money in your student life, then here are some ideas which will improve your savings.

• Share an apartment with your friends, and divide the rent.
• Shop less and save more.
• Reduce the outings and look for cheaper options of entertainment.
• Take an accommodation closer to your college to avoid the expenditure on the transport.

Plan a budget: Planning can solve all the student problems. There is a lack of balance in the financial life of the students, because they spend unknowingly and in an unplanned way. This brings them in a situation where they finish all their money in the beginning of the month, and struggle the rest of the day with a shrunk pocket. Life is fun when its unplanned, but it is completely opposite with your financial life. The more it is planned, the more it is secure.

No more debts: Students love to enjoy their life, and for this they keep taking money from their friends. If you are doing the same thing, then you are probably increasing more pressure on you. Prioritizing your debts will make you realize that you are raising the level of the problem meter for you. Avoid taking money for the unimportant requirements.

Getting Rich Is Easy & Staying Rich is Hard: Tony Wiley

Tony Wiley: All these years, I came across people who want to get rich, and they need my assistance in fulfilling their dream. It is my job to help them and advise them in a way that they obtain stability in their financial life. People of all age groups approach me for a valuable piece of advice that can drive their financial life more smoothly.

My clients who are facing a financial downturn want to come out of the turmoil, whereas all my rich clients keep thinking of making more and more money. I always ask them about their existing investments and expenses, and knowing inside out of this section of the society, I would like to bring something to the notice of these rich people. Spending extravagantly on the expeditions and shopping will bring happiness today, but are you ready for the future? As their financial educator, it becomes my duty and responsibility to enlighten them about the investment planning.

I always tell people that it is easy to get rich, but really hard to maintain the positive financial state. So, here is the advice for all the affluent members of the wealthy community.

Start saving now- Don't keep spending all your earnings. You need to have good savings before entering your retirement phase. People take too long to plan for their retirement, you cannot be sure of the future. So, it is always advisable to prepare yourself beforehand. Start with saving less, and keep increasing the amount as you become regular with the saving process.

Avoid credit cards- We often get dependent on credit cards while making impulsive purchases, but the high interest rates can really put pressure on you while making the payments. Some of us keep delaying the card debts, but by doing that, we are making things more difficult for us.

Start investing- It is never too late to start planning your investments. Consult your financial advisor today, and discuss about the different investment platforms which can give you good benefits.

Live below your means: You must plan your monthly expenses. On getting a salary, sit back and divide your expenses, keeping in mind the priorities. Unnecessary expenditures will shake your budget and will affect your nest egg.

Start following these basic steps to reduce the distance between you and your financial goal.