Investing In Commercial Real Estate For The First Time – 5 Mistakes To Avoid

Investing in commercial real estate has its perks. The entire deal could turn out to be one of the best decisions you make, provided you act diligently and do your research beforehand.

This post discusses a few errors in judgment and mistakes (if you will) that you should always try to avoid in the process. Let’s begin: 

1.   Inadequate Financing

You should be able to find some very reliable and attractive mortgage options in the market. Getting the right financing ensures that you can get your hand on a great deal that you otherwise wouldn’t be able to grab. You should first assess your financial flexibility before you choose any kind of financing. Whether it is a fixed-rate mortgage or an interest-only loan, analyze your requirements and make a decision wisely. You may also choose to pay a portion of the price in cash to avoid any mortgage payment problems in the future.

2.   Thinking You Can Do Everything On Your Own?

The real estate market is quite volatile, to begin with. Regardless of whether you have closed several deals successfully in the past or not, making a deal successful in the present time might not come that easy. What you will need are a skilled and experienced real estate agent and a qualified home inspector. You will also need to associate with a reliable attorney and a dependable insurance representative. These are the experts that can help you make the right decision and choose the most appropriate investment avenues for your hard-earned money.

3.   Rushing The Deal Ahead

No commercial real estate syracuse ny deal should be rushed into under any circumstances. There will be certain facts and information about the property that you may not be aware of initially.

These facts are not apparent in the beginning but only get revealed upon more research and digging on your part. These details have the power to dilute the financial merit of any real estate deal/property if and when uncovered on time.

Therefore, it is advised that you take your time when investing huge amounts of money in any kind of real estate.

4.   Forgetting About The Builder’s Reputation

The very first aspect of a commercial investment is the quality of construction.

This is what reveals to you how well reputed the builder is. Any reputable real estate developer or builder will always be known for their quality customer service and not just their top-of-the-line construction. 

5.   Incorrect Property Assessment

Talking about taking your time, let’s not forget about the importance of property valuation or assessment.

There is a difference between commercial and residential structures. The profitability of a commercial undertaking largely depends upon its:

  • Location
  • Quality of construction
  • Durability
  • Access
  • Desirability
  • Layout
  • Floor plan, and a lot more

The market conditions of commercial real estate are also going to determine whether you should invest in it in the first place or not.

The statutory and local taxes will also play a key role in helping you make this decision. If there are any property disputes or unresolved claims on it, stay away from the deal. Not paying attention to these details may cost you dearly.

Don’t be overwhelmed with favorable government policies and a surplus supply of commercial units.

You have to be patient and steer clear of any unreasonable claims and advertisements. Seek advice from an expert for more clarity and you will land a great deal sooner than you think.

Don’t Know What to Ask While Getting Life Insurance? We’ve Got You!

You only live once!

It’s a truth that nobody can deny. That’s why it is essential that you make the best out of this life. No need to restrict yourself and do whatever you want to do. In simple terms, complete your bucket list. Go bungee jumping, plan a solo trip, socialize and be yourself.

However, as your life is directly or indirectly related to your beloved family and friends, you have to think about them as well. You might agree with us that life is an adventure filled with uncertainties. And these uncertainties always end with financial loss. But if we focus specifically on life, the damage these uncertainties cause is way more disheartening than any financial loss.

Wait! Are you getting confused? Alright, let us explain it to you in an easy way. In the world of insurance, these uncertainties are known as risks. There are several types of insurance policies to cover different types of risks. If you ever have to face that risk, the policy coverage will safeguard you from the financial burden.

But! Not every type of risk can be minimized or eliminated, including the risk of losing a life. This loss will be a lot more than just a few hundred dollars. Still, it doesn’t mean that you should do something about it.

You should get a life insurance policy. So that in a situation where you are not with your beloved family, at least they don’t have to suffer from the monetary burden. It’ll be your way of showing that you care about them and want them to live the best life. Nonetheless, it is easier said than done.

You have to make sure that you select the best policy for yourself as per your requirements. And for that, you need to ask the insurance agent several crucial questions. Because remember:

“In the matters involving your life, always ask the questions that are right!”

Now, let’s tell you what questions that you need to get an answer to. Let’s Go!

From how many years is your company in operations?

First of all, you need to learn about the company’s history that you are interested in purchasing the policy from. It is essential that the company is genuine and has been in the market for several years. Do not get lured by the attractive offers of just any corporation. First, do a background check of the company online and after that, ask the agent about the company in person.

Only when you are fully satisfied that there are no issues with the company, take the next step.

Do you have all the required licenses to sell the policy?

If you are not getting your policy from the company but using a third-party service, you need to ask them this question. Generally, there are two types of licenses as per the type of policy they are selling, i.e.,

  • Life and Health insurance license: for all the life and medical policies
  • Property and Casualty insurance license: For motor, home, and business policies.

Thus, if your agent doesn’t have a license specifically for life and health, you shouldn’t get any policy from them. In fact, it would be better if you could file a complaint against them for selling policy without a valid license.

What type of insurance do you provide?

Insurance is a very vast subject. It includes numerous options of policies made according to the needs and requirements of the person. That’s why it is essential that you are aware of what type of coverage your company provides. Usually, it is of the following types:

  • Term life insurance: It is coverage for a limited number of years. Generally, those who have a specific budget for the policy prefer this type of policy, as it is relatively less expensive.
  • Whole life insurance: As the name suggested, this is the policy for the whole of insurers life. However, as compared to term life insurance, it is more expensive. But insurers have the right to fix its premium amount till the life of the policy. And can also be used for availing tax benefits.

Nonetheless, it is also crucial to understand your own requirements before you select a policy.

Do I have to get a physical examination?

Whenever the topic is about life or any medical policy, this question is what comes to the insurer’s mind. And we are sure the same is the case with you. You also want to know if you have to get a physical examination to get the policy.

Well, to give you the confidence to ask this question to the company/agent, we’ll tell you that “No, it is not necessary.” As per the agent at https://www.nophysicaltermlife.com/, if a person is scared of needles or doesn’t like the medical examination process, they can go for no exam life insurance. It will offer you almost the same benefits as a standard policy but won’t require any medical report.

How much amount of coverage can I get?

It goes without saying that not every person has the same financial condition. Some people earn well and can go for thousands of dollars of policy. On the other hand, some people take the policy so that they can help their kids or family with the collected money. They use life insurances as an investment to deal with uncertain future events. That’s why it is essential to ask about the amount of coverage.

It helps in determining the premium amount; thus, you can plan your monthly expenses accordingly.

Will I be able to upgrade my policy?

Usually, the clause of “conversion privilege” is included in every policy. This allows you to change your “term policy” into “whole.” It is a great option if you want to take into consideration the possibilities of future changes. That’s why you should definitely ask this question to the person and clear all your doubts regarding it.

To sum it all up!

All these questions are very crucial, and you have to ask them before you sign the policy. Besides that, if you have any doubt regarding the policy, you shouldn’t shy away from asking it.

10 Low-Effort Ways To Boost Your Finances

There are plenty of things you can do to build your financial health on a long-term basis, and indeed, this isn’t something that you should ignore — if you have a long-term strategy, then in the future, you’ll be able to reap the rewards of your efforts.

However, it’s not as if all things related to boosting your finances have to take years. There are things you can do right now that’ll put you on the right path, and the good news is that these things won’t necessarily require much effort!

In this blog, we’ll run through a number of things you can do that will boost your finances without having to exert all that much effort.

Direct Saving

It’s always nice to see the savings account moving in the right direction. The problem is that sometimes it takes a conscious effort to transfer money from your primary account to your savings.

Why not simplify the process by setting up a direct transfer? Each month, a set sum, decided by you, will move into your savings. You won’t even notice it since it won’t have been in your account in the first place (if you set the transfer up for the day that you’re paid).

Switch to a Lower/Higher Rate 

Interest rates can have a significant impact on your financial health. While it’s good to have a credit card (to build your credit score), if you’re not paying off the balance each month and have overly high interest on your cards, then you’re just giving money away.

Why not look at transferring the balance to a card that offers a more favorable rate. You can usually get an attractive introductory rate that’ll slash the costs. 

For your credit cards, you’ll want to have the lowest rate possible. For your savings and other investments, you’ll want to have a higher rate, so look at switching that too. Both of these processes can take all of thirty minutes.

Shop Around

We tend to just assume that whatever price we’re paying for the services we need is just the price we have to pay. But it’s unlikely that you’re locked into any deal for a long period of time. For things like your insurance and cell phone plans, it’s worthwhile shopping around to see if there’s a cheaper option out there.

The good thing about these kinds of things is that prices are always coming down. If it’s been years since you last switched supplier, then there will almost certainly be a cheaper option out there.

Even if you don’t want to switch companies (for whatever reason), you can think about talking with your existing supplier to see if you’re on the best rate — they’ll likely be happy to cut your bill if it means that you’ll stay with them. 

Review the Mortgage

There are some things that have a bigger impact on our finances than others. Your mortgage, if you have one, will be your most significant expense. But are you on the best deal? These days, it’s easy enough to remortgage your property. You might not save money, exactly, but you’ll change your financial landscape, which might put more money in your back pocket. 

That’s if you’re a homeowner, but you’ll have options if you rent, too. The coronavirus pandemic has led to a significant fall in rental prices, especially in those places that may have been in a bubble. Your landlord might be happy to lower your rent by 15%, just by asking. 

Put Your Assets to Work

Many people are asset-rich, cash-poor. For example, if you own a home, or a car, or have investments. While you won’t want to give up any of these things, it’s worthwhile looking to see if there’s a way to put your assets to work.

And here’s a big hint: there nearly always is! For your house, you can look at renting out a room; if you like to be around people and don’t mind sharing your space, then having a tenant can be an excellent way to bring in some much-needed cash. For your car, you can either rent it out, or offer carpool rides to places you were traveling to anyway. And if you’ve invested in cryptocurrencies, then you can use a site like HodlRate.com to find an account that’ll pay you interest on your holdings. 

All of these options don’t detract from your assets; they simply make sure that you’re getting as much worth from them as possible. 

Ask for a Raise

We tend to think that our salaries are set in stone, but that’s not the case, and they’re not forces of nature, either — they’re set by the employer. If you’ve been in your role for a while and know that you’re performing well, then why not look at asking for a raise?

The secret among employers is that most are happy to give their employees raises; it’s just that they don’t tend to go around the office offering them out. They know that it’s much cheaper to give a member of staff a bump in their salary than it is to find a replacement. Just by asking, you might find that you’re getting much more in your pay packet each month. 

Slashing Costs

how to boost finances

We can often fall into acquiring many expenses just through the course of living. Once we reach adulthood, we get our first monthly expense, and then in the course of several years, we find that we have, well, many, many expenses.

Some of them are necessary, of course, but not all of them are. If they’re no longer serving you, then why keep them around? Simply reviewing your costs and either eliminating them or finding ways to reduce them can make a small but noticeable difference to your financial landscape. 

The Money Pit 

We all have some spending habits that we know we don’t really need. For example, if you’re continually eating at restaurants/ordering takeout food, then you might be spending a significant portion of your weekly earnings on something that you just don’t need.

Or perhaps you’re buying too many clothes, records, whatever — the result is the same. If you can identify the luxuries that are really eating into your finances and find ways to reduce them, then in a few weeks or more, you’ll find that your bank balance looks much better.

Spending Breaks

If you want to really give your bank balance a boost on a short-term basis, then you could consider taking a spending break. This requires greater effort than the other tips on this list, but it also has a bigger impact. It works like this: you simply stop spending on everything but essential purchases.

We can spend a lot of money on coffee, alcohol, lunch, and things like that. While there’s nothing wrong with that, it can be worthwhile stopping for a week or two. You could feasibly raise a couple of hundred dollars this way. The key to succeeding is to remember that it’s only a short-term thing — those small pleasures that you enjoy will be back in your life sooner rather than later. 

Sell Unused Goods 

Finally, why not dig through the drawers and see if there’s anything you could sell? If you’re a homeowner, then you’ll probably have hundreds of dollars’ worth of goods just sitting there at your property. If you’re not using them, then sell them to someone who does want them. Depending on how much stuff you have, this could equal effectively the same as a months’ worth of pay. 

How Mindfulness Can Improve Your Driving

Do you find you are often frustrated on the road? It’s because of other drivers, isn’t it? It’s because people are not good at driving and break the rules without thinking. This may be true, but how often do you stop to consider your own driving ability?

You might think you’re a good driver, but there’s always room for improvement. One very effective way to improve is to use mindfulness to slow you down and bring more attention to the road. 

Better road awareness 

When you bring your awareness into the present moment, you free yourself from distracting thoughts and ideas that generally swim around your head. It might be thoughts about where you’re coming from or where you’re going-to that takes your attention off the road and other drivers. This can cause incidents of frustration and anger towards other road users. With your mind on the moment, however, you will notice more of what’s going on. 

Fewer distractions 

Normally your mind is not in the moment at all. You might be thinking about a situation in work, what someone said to you the other day, or what you need to do before going home – get fuel or stop for groceries.

All of this amounts to distractions that can be lead to reckless driving, which is dangerous for sure.

And it needs no mention that reckless driving consequences can be devastating if you have an accident. 

More patience on the road 

Distracting thoughts and ideas are generally stressful, especially when you begin asking and answering questions in your head. Then someone cuts into the lane or arrogantly overtakes you, and you’re already primed to shout about it. If you drive in a state of mindfulness, however, you will drive more slowly and will be less likely to react or even encounter frustrations on the road. If you do encounter frustrations, they are far less likely to affect you. 

A more comfortable ride

When you practice mindfulness while driving, all your attention is on the moment. You’re listening to the sound of the wheels on the road, watching the road with alert attention, and noticing how you feel at the same time. This tends to bring awareness to your driving and slows the car down, making the ride more comfortable and safer for your passengers. When you approach a junction in your Flex Fleet hire vehicle, for instance, you won’t have to brake quickly to avoid a collision; instead, you will roll up slowly, fully aware of what’s happening on the road around you. 

Better fuel consumption 

Mindful driving is also excellent for your vehicle and your budget. Mindful driving makes you a slower, more considerate driver, which translates into more money in your pocket at the same time. How is this possible? Firstly you drive slower, meaning you use less gas. No matter what fuel consumption you have on your vehicle, it will improve with slower, more careful driving. Furthermore, your vehicle will need fewer serves and repairs, saving you money there too. 

How to Shop Smart for a New Vehicle

Shopping for a new car is an exciting prospect, but it is also a purchase that requires a lot of thought. The vehicle you drive is one of your most significant assets, so choosing the right car is essential. 

Your vehicle is so much more than just a means to get from A to B. Instead, cars hold great meaning to many people and act as a status symbol, a means of expressing themselves, as well as something that brings them enjoyment. With so much emotion wrapped up in choosing a car, shopping smart for your new vehicle is a must. Here are some tips to help you find a vehicle that is your perfect match:

Consider Size

When it comes to shopping for your new vehicle, size most definitely matters. Buying a car that is too big or small can become incredibly frustrating. Think about how you use your car, right now, or how you plan to use it over the coming few years. If you plan to have kids, don’t forget that you need a vehicle that can fit a stroller, grocery shopping, and a whole lot more in the back. However, buying a huge vehicle may not be the best option if you are single or a couple, and you may even want to opt for something sportier instead.

Price

When you are trying to shop smart for a car, the price is one of your biggest considerations. If you want to buy a new vehicle without paying the full price, continue reading this to help you choose a car packed with features at a discounted price. It is always worth looking for special offers to ensure that you don’t pay more than you need to for your new ride.

Features

Comparing vehicle features is an excellent way to narrow down your choice of car. Making a list of features that you are prepared to compromise on and those you cannot live without is a perfect starting point. Think about the features that your current car has that you love, and which ones you feel are missing, but would improve your driving experience. 

Fuel Economy

For some drivers, the power of their car is everything to them. If you are one of those people, you may be happy to forget about fuel economy and instead focus on your new vehicle’s power. Weighing up whether you would prefer to save money on your motoring costs with a fuel-efficient car, or would rather have a high-performance vehicle that costs more to run is something you will need to consider. 

Driving Experience

Once you have narrowed down your options, it is time to book in for some test drives. Driving the car yourself is the only way to get a real feel for it and assess whether the driving experience and comfort suit your needs. 

Carefully weighing up the driving experience and practical factors such as running costs and features will help you shop smart and avoid any expensive mistakes.

Simple DIYs You Should Do This Week

The seasons are changing and winter is slowly approaching. Although this year has felt largely like a blur to many of us, the end is almost nigh and we will be hearing Christmas music before we know it. 

Autumn is a great chance for us to prepare our home for winter, and there are many different ways that we can do this.

Today we are going to take a look at some of the DIY jobs you can do around the house this year to make the most of your house in winter. 

Seal the windows 

The first easy job you can do this week around the house is seal your windows. The cold season is rapidly approaching and soon we will be fighting to stay warm and cosy.

To ensure that we can stay warm all winter we need to ensure that the sealant around our window frames is solid. Over time sealant can crack and rot away, so a fresh coat will make all the difference and keep your house warm all winter long. 

Repaint your doors 

Gloss paint is an underrated part of the house, and it can make a bigger impact than you may think to your home. Over time, a once beautifully white piece of gloss paint will become darker and more cream and yellow. This can make the rooms of your home look drab and dull.

Repainting your doors and skirting boards with white gloss paint is a simple DIY to do in your house this winter, and it will mean if you come to sell in the future, your single house will stand out from the crowd. Be aware that gloss paint takes a long time to dry so pick your moments! 

Freshen up the walls 

As well as refreshing the glosswork around the house, you could benefit from giving your walls a spruce up. You can easily spruce up the walls of your house with a new colour on the feature wall of your living room and your bedroom.

As well as this, consider painting over any white or neutral shade you have to brighten it up and make it look brand new. Painting your home won’t take too long and it will just make the space look and feel brand new. 

Consider new carpet 

One of the best DIY jobs you could consider doing before winter is to replace your carpets. Most of us have the same carpet for years on end and never think to replace it; but over time with scratches, traffic, and spills – a once beautiful carpet can look old and musty.

Breathe new life into your living space this winter with a new fluffy carpet, and enjoy a cosy and warm atmosphere for the whole winter. A new carpet really can make a room. 

Refresh the kitchen cupboards 

Our kitchen really comes into its own during the cold season. From making tasty sweet treats to hosting parties and cooking Christmas dinner there are many ways to utilise this room in winter.

Because we will be using the kitchen so much during winter, it is important for us to make the most of the space and refresh it now and again. One simple way to do this is to paint and refresh the kitchen cupboards.

Whether you have wooden or vinyl cupboard doors – you can add a fresh lick of paint or even get a fresh vinyl sheet to place over. A fresh new white or a burst of bright colour can make all the difference to your kitchen. 

Install a new shower 

Your shower is a commodity that will feel more like a treat during winter – and now is a great time to treat yourself even more. A new shower can be a great way to spend your hard earned cash this year, and it will ensure that you are able to enjoy a warm wash at the end of a cold miserable day.

There are plenty of stylish showers you can invest in such as a waterfall shower which will add a modern and contemporary feel to your whole house. 

simple diys

Tidy the garden 

If you have a garden, autumn is a good time to head outside and get tidying. After summer has passed, many plants will die off and become dormant for the winter and this is a great time to get rid of ruffage.

There will be a lot of dead wood, leaves, and other debris in your garden at the moment, and once you clear this out you’ll be able to get rid of unwanted plants, make space for new winter blooms, and look forward to a fresh garden ready for spring. 

Organise your pantry 

We all know how easy it can be to hoard food in our kitchen cupboards and forget about it. If you are looking for a simple house job to do this week that won’t take too long, organising your pantry should be your number one priority.

Take the time to go through all of the food you have in your pantry and get rid of things that are out of date. If you also have things that you simply won’t eat, you can save these to one side and donate them to a food bank.

Once you have cleared your pantry be sure to clean the cupboard and then put everything back. Consider saving coffee jars for your sugar, teabags, and different types of flour and dried goods! 

Clear out clutter 

It is only natural that living in the same house for a long time will allow us to accumulate a lot of items, but now and again we need to clear out the clutter and only keep what we really need.

Take some time this week to go through every room of your house and clear out the items you no longer need. You could sell old clothes or furniture on Shpock, take things to your local recycling plant, or give to charity.

Once you have got rid of clutter you can start looking at new ways to organise your things and ways to decorate your house! 

21 Tips For Entrepreneurs Looking To Launch Their Business In 2021

Let’s face it; 2020 has been an immensely difficult year for us all. However, it has probably taught you that life is too short not to follow your dreams. Likewise, it has highlighted that your current job probably isn’t quite as secure as you once thought. Those realizations, combined with the start of a new year, make it the perfect time to start thinking about creating your own business.

Still, with the economy in its current state, only the best approach will deliver winning results. The following tips will keep you on the path to success.

#1. Take A Modern Approach To Staffing

Employees are the greatest assets at your disposal. However, they can be a major expense and you might not need them all the time. Freelancers and temporary contractors are key additions. It makes staffing admin a lot easier too.

#2. Facilitate Better Communication

Assembling a strong team or permanent and temporary employees is one thing. Getting the most out of them is another. Communication and collaboration are vital. Therefore, you should invest in team messaging Apps and cloud computing.

#3. Encourage Autonomy

It’s tempting to take charge of every aspect. In reality, though, you’ve hired people for their expertise, and your attempts to micromanage everything could stop them. Allow them to show their talent, not least because it aids time efficiency.

It’s tempting to take charge of every aspect. In reality, though, you’ve hired people for their expertise, and your attempts to micromanage everything could stop them. Allow them to show their talent, not least because it aids time efficiency.

modern workspace

#4. Opt For A Modern Workspace

In addition to a modern workforce, you should choose a modern workspace. The obvious temporary office space benefits make it a fantastic solution. Meanwhile, shared spaces and pop-up stores are upgrades on traditional ideas.

#5. Allow For Remote Working

While a winning workspace is crucial for most operations, some can survive as home-based companies. Even those that can’t can reduce the pressure for huge spaces by taking this approach. Enable some of your staff to do it.

#6. Price Check Everything

Wasted money is one of the worst problems that new SMEs can face. Thankfully, you can limit this issue right away by getting into the habit of price comparing. Cheap utilities, materials, and business expenses will remove the pressure to sell as many units.

#7. Outsource Where Possible

Managing your capital in an efficient manner is pivotal. Outsourcing jobs like packing and delivery allows you to remove some of the pressure in those early phases of running the business. You must grab those opportunities with both hands.

#8. Get Online

In today’s climate, your business needs a great website and partnerships with sites like Amazon. Not only is it a great marketing tool, but it opens your door to a far wider audience. In the era of social distancing, this is more crucial than ever.

In today’s climate, your business needs a great website and partnerships with sites like Amazon. Not only is it a great marketing tool, but it opens your door to a far wider audience. In the era of social distancing, this is more crucial than ever.

influencer marketing

#9. Use Influencer Marketing

Good ad campaigns are important, but modern audiences are smart. They would much rather hear the thoughts of other people. Therefore, the power of social media influencers is something you must embrace. It can take your game to new levels.

#10. Leverage Success From Customers

Popular personalities can aid your marketing endeavors. However, you should also learn to utilize your clients to win new ones. Affiliate marketing schemes and client testimonials can seriously influence prospective customers. 

#11. Build A Personal Brand

Consumers want to purchase goods from brands that they like. A little insight into your brand personality through social media is ideal. Going green and supporting worthy causes and political issues can also help.

#12. Research The Competition

When starting a business, you will naturally want to focus on your innovations. Still, you must remember that clients will go elsewhere if you do not keep them satisfied. Market research should be a regular presence.

#13. Always Manage Your Finances

The importance of expenditure control has already been mentioned. In truth, financial management should extend to all aspects of the venture. Moreover, it should be an ongoing task, which is why accounting software can be a key feature.

#14. Invest In Client Care

Customer care is one of the most commonly overlooked features. However, it is statistically far easier to retain a client than win new ones. A combination of fair returns policies, clear contact details, and a genuine desire to help will serve you well.

set achievable goals

#15. Set Achievable Goals

Momentum plays a key role in modern business. Therefore, you should learn to set small and regular milestones that can be easily achieved. When you do, the winning mentality and habit of success will lead you to greatness.

#16. Instill Life Balance

The whole purpose of starting a business is to improve your life. Do not forget it. Take the time to keep your health and wellness in great condition. Without balance, you won’t enjoy either part of your life. What a waste that would be.

#17. Master SEO

When looking at marketing campaigns, there are many options at your disposal. Search engines like Google still deliver the most traffic and leads. Thanks to local searches and voice searches, it’ll boost offline interest too.

#18. Avoid Unnecessary Costs

Getting value for money on necessary expenses gives you a good platform. Most companies are also guilty of wasting money on unnecessary features. Whether it’s trading travel for video conferencing or losing a service, those savings make all the difference.

#19. Be Prepared For Change

The world of business is constantly evolving. You must be ready to do the same. From using new tools and work methods to meeting new audience needs, the right moves pay dividends. A responsive business should avoid the threat of becoming stale.

#20. Trust Your Instincts

Research is important. Still, nobody knows the business better than you. At times, it’s best to simply trust your gut. If something seems too good to be true, it probably is. Conversely, an idea that seems destined for success should deliver results as long as you work hard.

#21. Be Authentic

Finally, whatever you do, be sure to do it your way. When you are passionate about the business, it will shine through to influence employees and clients alike. Besides, it will get you through the difficult moments of the first year.

What Happens When You Save $1,000 Per Month For Ten Years?

Albert Einstein once famously quipped that compound interest was the most potent force in the world.

And, just as with most things, he was right. Unlike other forces, compounding works exponentially, and ad infinitum.

Once you put money away, it never stops growing. And as it grows, the amount you add to your wealth each year increases.

A small annual gain of $1,000, can balloon to more than $50,000 after ten years of consistent effort. 

To the average person, the idea that you could make $50,000 per year merely saving money seems pretty far-fetched.

That’s like replacing one person’s entire annual income without having to do any actual work.

But when you do the maths, that’s what you find. You really can create a viable passive income with consistent savings and a conservative investment strategy.

You don’t have to take huge risks. The only requirement is that you’re in it for the long-term. 

The authors of dividend investing books will often talk about the importance of consistency when investing.

Ultimately, that’s the aim of the game. If you want to get the pot of gold at the end of the rainbow, you have to be willing to do what others aren’t: forgo current income for more money in the future.

It’s a tough ask, but one that allows you to get the best that life has to offer in the future. 

Passive Income From Saving $1,000 Per Month For Ten Years

Let’s say that you commit to investing $1,000 per month for ten years. What can you expect your life to look like? 

If the market returns 8 percent, you can expect to make around $13,000 per year in interest income alone by the end of that period – and that’s if you start from scratch. If you get an inheritance of $100,000, interest payments balloon to an expected $28,800 per year. 

And the numbers keep on climbing. Suppose you keep saving for another ten years. In that case, annual passive income going into your accounts hits $76,000 – more than most households earn per year. 

Is It Feasible? 

But is saving that kind of money realistic? Can the average household do it?

Well, it very much depends on your circumstances. But the trick is to live below your means and enjoy it. If you don’t learn to love living with less, you’ll feel like you’re serving a life sentence. 

If, however, you can become comfortable with the idea, then suddenly, it feels like a good thing. You begin to enjoy saving, knowing that you’re building a stable and secure financial future.

That in itself can be a reward – as is the satisfaction of knowing you achieved it. 

Saving money is a tough gig, but the payoffs are tremendous. Do it for long enough, and you will often get to the stage where your ability to generate passive income outruns your capacity to spend it.

You’ll spend a long time getting there if you take the conventional route. But get there, you will!

Amputation After Accident: Dealing With Financial Implications

Serious car accidents lead to catastrophic injuries, which have adverse consequences such as permanent disabilities and amputation. 

When something as disconcerting as amputation occurs, the impact goes beyond physical pain and suffering. 

There can be massive financial setbacks that stay with you for a lifetime. To start with, you will need to spend a massive sum on treatment and rehabilitation to become independent. 

Moreover, you cannot expect to get back to work normally, particularly if the nature of your job depends mainly on your mobility.

Also, there is a lot of mental anguish that you and your family will have to deal with. Flashbacks to the accidents may scare you and the sight of the loved one without a limb is not easy for the family to bear. 

At the same time, lost income is bound to cause stress and anxiety for everyone. Dealing with the financial implications of amputation is a big challenge but this is something you will have to manage to get your life back on track. 

Here are some facts that you need to know and understand about dealing with such a situation.

Assessment of financial losses caused by amputation

When you have an accident, there is always a financial loss. You can well imagine the extent of these losses if something as serious as amputation happens. 

Although it may not be possible to assess the value of a lost limb, you still have to calculate the financial losses caused by the event. 

Fortunately, the law comes with a system to facilitate this assessment to a reasonable degree of accuracy. 

Typically, the loss caused by amputation includes the cost of surgery, medical bills, replacement limbs or prosthetics, and rehabilitation. 

Further, it also adds up the loss of earning after the event because you will probably not be able to work normally after losing a limb.

The cost of adaptation of your living space and car can also be included in the losses caused by the amputation.

Understanding the factors that affect compensation value

Although the law has some guidelines related to the calculation of financial losses caused by amputation, you can never be too sure about the compensation value. 

There isn’t a one-size-fits-all method for calculating it; rather you will have to consider certain factors while doing so. 

These include the type of amputation (whether traumatic or surgical), the injury that necessitated the amputation, your age and gender, and the level of pain, long term prognosis, and trauma it has led to.

Ideally, you should seek the advice of an expert accident lawyer to calculate the compensation value that you should rightfully get.

amputation after accident

Filing a claim for amputation compensation 

Life after facing an amputation is never the same. If you go through such a drastic event due to an accident caused by someone else’s negligence, you deserve to be compensated. 

The compensation should be enough to cover your financial losses as well as physical suffering and mental trauma. 

The best thing to do would be to hire a skilled car accident attorney who can help you with an accurate assessment of the compensation value and also secure what is rightfully yours. 

Since such cases involve high-value claims, you can expect the other side to try everything possible to avoid compensating you fairly. 

But with an expert handling your case, the process of securing your claim may get easier and quicker.

Restoring the quality of life after amputation 

Apart from the financial implications of amputation, it has a far-reaching impact on the quality of life of the victim. It is hard to say if you will ever be able to restore the full quality of life after losing a limb. 

However, getting your rightful compensation can make some difference in this context. Since you will need physical and occupational therapies, compensation can help. 

Also, there could be future surgeries and rehabilitation in the store, which you will be able to manage with the claim. 

Additionally, your family will be financially sorted even if you lose your job or earning capacity. To add to everything, you are in a better state of mind with compensation that secures you and your family on the financial front at least. 

Coping with amputation is not easy but when something this tragic happens, you have no choices. 

The only thing that gives solace in such a situation is that you can claim lawful compensation if injured due to the negligence of the other driver. 

Thankfully, a legal expert can help you get a claim value that can get your finances back on track after such a catastrophe. 

Coping With Wrongful Death Of Your Spouse: How To Recuperate Financially

Losing your spouse can be the most painful experience, particularly when it happens because of a mishap caused by someone else’s negligence. 

In such situations, the family ends up suffering from financial consequences along with grief. 

As the surviving spouse, you may suddenly find yourself struggling with money, particularly if the dead partner was a sole or major contributor. 

Things can get tougher if you have dependents to look after and money seems to be running out. 

Apart from coping with the grief of the loss, you will have to make efforts to recuperate financially. 

While recovering from the loss can be a humongous task, here are some things that can help you get your finances on track.

Assess your current financial position 

When you are still in shock or grieving, managing finances may be the last thing on your mind. 

In fact, it is easy to be overwhelmed by the sheer number and complexity of financial matters to be settled in the weeks or months after the spouse’s death. But this is where you have to start. 

There will be some tasks that require immediate attention, specifically an assessment of your current financial position would be mandatory. 

The best thing to do is to organize records and paperwork so that you may determine your assets, liabilities, and income potential for the future. Seek the assistance of professional advisers to get things sorted out.

File a compensation claim

Once you have a clear view of things after the initial shock is over, you would want to make sure that the person responsible for the death of your partner is punished. 

The next step would be to look for an attorney who can help you file a wrongful death case to get you justice and fair compensation. 

The lawsuit serves as a tangible step to bring your finances back on track by getting the compensation you deserve. 

At the same time, you will want the responsible person to pay for their actions. Such cases are complex and require the right evidence and arguments. 

So it makes sense to find a seasoned attorney who is capable of getting you a favorable verdict.

Plan for the future

The loss of your partner is nothing short of a major blow but life has to go on. If you have a family to take care of, financial planning does not remain a choice. 

You will need to cover the basics, from retitling assets to debt management, estate closure, and filing a final tax return on the behalf of the deceased spouse. 

These steps are important to start with a clean slate and move ahead with rebuilding your finances. 

Additionally, you will also have to take the appropriate steps to claim death benefits through annuities, life insurance policies, and Social Security benefits. 

Finding alternative sources of income is equally important because you will have to manage finances alone. 

Finding a job if you are not working is a good idea. Consider investing the compensation and death benefits to get a regular income stream.

Dealing with financials may not seem like an easy thing to do when you lose your spouse unexpectedly. 

But this is something you cannot ignore- rather, the sooner you get things sorted out, the better it is.