Pay Yourself First - If the Only Thing You Did Was This, You'd be Rich

Written by Brendon Turner


Continued from page 1

Budget for it: You can scrimp, brown bag it, clip coupons, track every penny you spend, never have fun, and put off living for thirty years inrepparttar hopeful expectation that someday you'll be able to retire and start enjoying your life. Yuck. That sounds terrible. No wonder this rarely works.

This leaves us withrepparttar 145702 one proven, easy way to get rich. And that is...

PAY YOURSELF FIRST

Pay Yourself First means just what it says. When you earn a dollar,repparttar 145703 first person you pay is you. Most people don't do this. When most people earn a dollar,repparttar 145704 first person they pay isrepparttar 145705 government. They earn a dollar and, before it even makes it onto their paycheque, Canadians payrepparttar 145706 government something like 30 cents and Americans pay somewhere around 18 cents in federal income taxes (often more). On top of that, for Canadians there'srepparttar 145707 Canada Pension Plan, provincial health insurance and employment insurance. Inrepparttar 145708 end, they wind up payingrepparttar 145709 government first as much as 35 or 40 cents of their hard-earned dollar. Seems like everyone is getting paid butrepparttar 145710 person who earnedrepparttar 145711 paycheque.

The Secret isrepparttar 145712 Way Your Money Flows

You have a right to legally avoid federal and provincial taxes onrepparttar 145713 money you earn. The key word is "legally." You can legally Pay Yourself First, instead ofrepparttar 145714 government, simply by using what is called a registered retirement savings plan (RRSP) for Canadians or a 401(k) plan for Americans. You can hold a large number of investments in an RRSP or 401(k).

Who You Work for is Waiting for You at Home

As much as our employers would like us to believe otherwise,repparttar 145715 reason most of us go to work each morning isn'trepparttar 145716 company mission statement or even servingrepparttar 145717 customer. It's ultimately about us. When it comes down to it,repparttar 145718 reason most of us go to work is forrepparttar 145719 sake of ourselves and our families. We go to work to protect those we love. Everything else is secondary. We are our first priority.

Or are we? The truth is that we are not raised to put ourselves first. We are raised to be nice. We are raised to share. We are raised to help others.

These are wonderful values, and I believe in them. But there's something else I also believe:repparttar 145720 old saying thatrepparttar 145721 Lord helps those who help themselves. I think there is timeless truth in this. So before you start laying out a financial plan, really focus on these questions: Are we helping ourselves? Are you helping yourself? Are you REALLY working for yourself? I'm not asking if you're self-employed. I'm asking whether you're really working for your own benefit and that of your family when you go to your job each morning.

Visit InvestorGazette.com today for articles about retirement income planning for the individual investor. The Investor Gazette - weekly edition of investment properties and investment opportunities.


An Introduction to Offshore Investment

Written by Jeremy Pickles


Continued from page 1

Be aware that as an offshore investor you must take strong measures to protect your own interests. Domestic government agencies likerepparttar SEC have no jurisdiction outside your home country, you will need to do your own due diligence onrepparttar 145672 companies you deal with and invest in, and you will need to research what legal protection is available to you inrepparttar 145673 jurisdictions concerned. Again, this will differ from what you are used to in your home country and professional advice will be necessary. Avoid any internet based company that does not have real physical contact details - street address, phone/fax, contact names. Learn how to use DNS research tools like www.betterwhois.com to learn who it is hiding behindrepparttar 145674 web site.

If you have determined that offshore investing is something you wish to pursue, Offshore News reports onrepparttar 145675 latest developments inrepparttar 145676 tax haven jurisdictions. As a general guide it is often more discrete to establish your offshore structure in a location far from your residential jurisdiction. Americans for example would be best to investigate South Pacific countries like Nauru, Vanuatu andrepparttar 145677 Cook Islands. Australians could look at Caribbean or European jurisdictions. Some tax havens have strong investor protection laws in place, others are unstable and politically volatile. It's a moving landscape best tracked by staying up to date withrepparttar 145678 latest Offshore News and via your offshore advisors.

Always work directly withrepparttar 145679 banks and investment funds you are interested in, and be wary of any advisor who suggests you should transferrepparttar 145680 money to them so that they may placerepparttar 145681 funds discretely. Once you are happy withrepparttar 145682 safety of your investment in a particular country you need to perform thorough due diligence onrepparttar 145683 particular funds, banks and brokers you are looking at placing your funds with.

Many sound offshore advisors, banks and related companies are linked to fromrepparttar 145684 Offshore News site - bookmark us and return often to stay up to date withrepparttar 145685 latest developments and resources on offshore investments and banking.



Jeremy Pickles is the owner of Offshore News, which publishes the latest news and resources on Offshore Investment, Tax Havens and International Banking.


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