If you’re self-employed, as many of us are, you need to establish your own retirement plan. The easiest plan is an IRA at which you can only contribute $2,000 yearly. If you’re young (years away from retirement) check out a non-deductible Roth IRA. Other plans include SIMPLE, SEP-IRA, and Keogh Plan. If you want to learn more about these plans, check our Reviews section near end of newsletter.

Please don’t think you can live on Social Security (in USA) alone! If you have no idea what you MIGHT have already accumulated into Social Security, FIND OUT! (Link for SSA in Reviews section)

WARNING and a TIP: Just when you thought you were covered! One thing that can zap you financially is a divorce (I hope this never happens to you) and your pension plan could be one of your largest assets to be DIVIDED up (I’ve seen this happen). SO, if you’re married, I sincerely hope you stay so happily and forever after!

Smiles, not Piles, Janet L. Hall Professional Organizer, Author, and Speaker http://www.overhall.com "If your current systems aren't working for you... get an "OverHall"!"

The Organizing Wizard, Janet L. Hall, is a Professional Organizer, Speaker, and Author. She is owner of OverHall Consulting, and Organizing By Phone. Subscribe to her FREE organizing newsletter at http://www.overhall.com/newsletter.htm or visit her web site at http://www.overhall.com

Copyright (c) 2000 by OverHall Consulting P.O. Box 263, Port Republic, MD 20676 All Rights Reserved. Permission is granted to reproduce, copy, or distribute OverHall IT! or any articles by Janet L. Hall so long as article(s) is kept intact, this copyright notice, and full information about author is attached.

You can also invest in Real Estate, Art, Collectibles, Utilities, and Commodities.

There are Low Risk/Low Effort and High Effort, Medium Risk/Low Effort and High Effort, and High Risk/Low Effort and High Effort

~~ WHEN do I start investing? If you’ve been doing your homework last couple of months in OverHall IT! You should have a working budget in place, cut out needless or wasteful spending, and your financial area should be more in balance. The next suggested step before you begin investing is to build an emergency fund of three to six months’ salary. After all these tasks are completed, then and ONLY then should you think about investing.

TIP: You should only invest money that you can afford to * put away * for at least five years or longer. This means you must take a very close look at other things in your life, such as is your job secure, is your transportation reliable, are you in good health, is your business profitable and steady, and many, many other areas and things in your life before you start investing your hard earned money, because you want to make a profit, right?

~~ WHERE do I invest? Only you can answer this AFTER you’ve done your homework!

~~ WHY do I want or need to invest? Do you want to build an estate to leave to your loved ones or do you need extra money now? Are you investing to supplement your income or for your child’s future?

~~ HOW do I invest? Invest time in learning about investing your money, it’s your MONEY and your FUTURE. If you’ve already started investing, schedule a meeting with yourself or planner/broker and review your portfolio to make certain your investments are or will be meeting your needs. Make it a habit to review your portfolio at least yearly and especially when you have a * life * change.

As you can see, there is a lot more to investing then just * picking something * and laying out your hard earned cash!

How much time are you willing to invest in your investments?

The mantra for Investing is * Educate, Select, Monitor, and Review *!

TIP: Try playing * pretend investing * while you are learning. E-TRADE offers a * PLAY * area to do such a thing at http://www.etrade.virtualstockexchange.com

Here’s hoping you invest wisely and make monies that you need or want!

Smiles, not Piles, The Organizing Wizard, Janet L. Hall, is a Professional Organizer, Speaker, and Author. She is owner of OverHall Consulting, and Organizing By Phone. Subscribe to her FREE organizing newsletter at http://www.overhall.com/newsletter.htm or visit her web site at http://www.overhall.com

Copyright 2000 by OverHall Consulting P.O. Box 263, Port Republic, MD 20676 All Rights Reserved. Permission is granted to reproduce, copy, or distribute so long as article is kept intact, this copyright notice and full information about contacting author is attached.