Life–changing things to put in place before you turn 40 is our conversation for today. It’s an important conversation that sets the stage for the next epoch of your life. Life is believed to begin at age 40. Before you turn 40, you should have reached some financial milestones in life to make your years as enjoyable as possible.
I’ll share the financial steps and things to put in place before you turn 40. If you have reached the age of 40, you can still begin to achieve these financial goals, because it’s never too late to achieve something in life. if you have the commitment and courage.
The list below details the exact steps and pertinent points to be considered. \even if you’ve gone beyond 40, use this as a guideline towards planning and watch yourself begin to hit those milestones.
1. Pay off ALL debt: Debt can be a major setback in your journey to financial security, especially compound interest debt. You must do everything in your power to pay off all of our debts from those with the highest interest rates to the negligible ones.
Your goal should be to lead a debt-free life. Pay off your debt and make sure you don’t take it back on. You have more peace when you have no debts. Business loans are an exception but if you can build from ground up, explore it. However, you should consider other ways to raise capital for your business before considering a business loan.
2. Build marketable skills: If you can do what others can’t do, they’re willing to pay for it. What skills do you have that other people would be willing to pay for? If you don’t have the skills yet, go learn it today. This is very important!
Try to learn a skill that is not common. If everyone can do it, the value will not be high. If you learn or develop a rare skill that you can do almost perfectly and that has a good demand, you can’t go bankrupt because your skills will always give you income.
Some good skills you can learn are graphic design, tablet publishing, hairdressing, catering and decorating, tailoring, vehicle mechanic repairing, computer repairing and networking, computer programming, web design, welding and manufacturing, copywriting, nursing , carpentry, tiling, application development, POP roof installation, electrical work and many more.
Most of these skills are not taught in colleges and universities, but they can feed you. Therefore, even if you are a graduate, you can learn these in a skill development center. It helps to have at least a good marketable skill before the age of 40.
3. Develop a search for financial education: information is dynamic. New information comes out every day. What you know yesterday may become redundant. Therefore, you should always be alert to new information. You need to make an effort to update your financial knowledge.
Before you turn 40, you need to develop your reading skills. Reading is one of the greatest ways to gain knowledge. You need to learn regularly and quickly. Read good books and research online. For information, you need to learn how to use search engines like Google, Bing, AOL.com, Ask.com, and more.
Get a financial mentor: You need to follow someone who has done what you want them to do to prevent mistakes from being communicated by others and speed up your financial progress.
One way to follow a mentor is to read all of their books or articles.
5. Have an emergency fund : The need to always have an emergency fund cannot be over-emphasized. An emergency fund is money that goes to your bank account for serious emergencies such as job losses, illness, accidents, disability, and so on. Experts recommend that your monthly living multiplied across 6 months should be your emergency fund. At least 6 months strong savings.
This money should have good liquidity, but it’s best not to keep it in a savings account where you have access to it and again to ensure depreciation doesn’t catch up with it. You can save the emergency fund to a mutual fund account or simply keep it in USD, Euro or Pound status.
6. Start your own part-time or full-time business – if you’re not starting a business before the age of 40, when will you start it? When do you grow old? Business is a risk and the older you get, the less appetite and risk averse you become.
Try starting a business before you turn 40. You can do this part time if you are employed. This will help you learn from your mistakes, grow, and gain experience. Business mistakes and failures are better when you are younger than when age begin to slowly creep in.
7. Get married and have all your children: You have a more balanced view of life with children. Married people rarely jump into action without weighing all available options. You think about the consequences of your actions, how it will affect your family in some way. You think about the couple and also make more balanced decisions, including business decisions, because two good bosses are better than one.
Having your children under the age of 40 also has several benefits, as it helps you grow with your children and helps carry the financial burden of raising your children while you are still young.
8. Build a solid base of passive income streams from paper assets. Paper assets are one of the greatest ways rich people make money almost effortlessly! Warren Buffett is one of the richest men on earth because of his paper assets. Imagine you have invested N50 000 000 in a mutual fund with a low annual interest rate of 10%. This means that it would earn approximately N5,000,000 annually and N 416,666 monthly. If you continue to invest interest and capital, you will increase even more in the coming years. Therefore, the rich are getting richer because they use the power compound to use the paper resources.
Before the age of 40, this is the best time to buy a lot of paper assets. Invest in stocks, treasury bills, bonds, mutual funds and other paper assets. He is interested in a wide range of paper resources.
9. Investing in real estate: Investing in real estate is one of the best investments you can ever make because it always appreciates in value over time. In addition to food, rental housing costs are one of the biggest expenses for the family.
Before you turn 40, it would be good to build your house. In the worst case, even if you haven’t built a house, try to buy land before you’re 40 years old.
10. You have your own farm: Have you thought about how people would survive without farmers? You can say, ‘I don’t have to be a farmer, because I can always buy the food I need’. Now imagine again what happens if you have money to buy food and there is no food to buy because there are no farmers? Even if you don’t want to grow full time, try a backyard garden where you plant vegetables. This will help you appreciate the wonderful work that farmers do. Investing in agriculture can also be a good way to build wealth. There is always a market available for agricultural products.
11. Start giving to others: You can get as much wealth and wealth as you can, but if you can’t find a way to help others, you won’t know what the accomplishment truly is. The true measure of life does not lie in how much you have, but in how much you give.
Start allocating a portion of your monthly income to help others, especially the needy, children, and the elderly. You can take responsibility for sponsoring a disadvantaged child through school. You can adopt a child. You can meet the needs of disadvantaged children and the elderly on a monthly basis.
I can really do this without the stress of writing articles and maintaining this blog as I don’t get a reasonable financial benefit from it. My joy, though, is that this blog is helping thousands of people overcome poverty and remain financially stable.
Start handing out people now. You don’t have to be very rich to help others. Give what little you have because it opens more doors of resources. There are many people around you who need your help and help. You can deliver cash or to babies in need, disabled and motherless at home. You can sponsor a poor child through school. There are inexhaustible ways to give to others.
1. Write a will. Many financial experts recommend getting a lawyer to help you make a will that legally grants ownership of your properties to everyone you want when you go ahead. This is especially important in conflict-prone families.
2. Buy an insurance policy: Several financial experts also advise you to buy life insurance. The goal is to give your loved ones a financial advantage if you pass away.
Hope this was helpful. We would love to know what your comments are about this article and if you have other great advice around this, feel free to add it in the comment section and we will be happy to add it to the article.
Stock market pullback, correction, crash. What is the difference
Dante had nine circles of hell in his Inferno, but stock investors have just three, each one progressively worse: a pullback, a correction and a crash. Other than the degree of pain they inflict, these market downdrafts have different characteristics.
Stocks, by their nature, suffer declines, although history shows they gain much more than they lose. Nonetheless, when a market slide materializes, investor fear and even panic, too. It helps to know what you are facing.
Sure, a pullback can morph into a correction and then cascade into a crash. Most times, though, the degree of the market fall is evident pretty early. One key difference among the three classes of market descents is how large the problems were that triggered the drops in the first place.
Pullbacks are dips of 5% to 10% from a recent market high, and are short-term, lasting a month on average and taking another month to retrace the losses, according to a Guggenheim Partners research paper. Pullbacks often result from news events that turn out to be of fleeting important. Look at the last one, in September. The S&P 500 sunk 5.2% amid congressional wrangling over the national debt ceiling, a kerfuffle that got resolved, at least for the moment.
Pullbacks are fairly common, with 84 of them happening since World War II, meaning about one or so per year, with an average loss of 7%.
Because of their short duration, the year when corrections take place very often is positive overall. Since 1974, the S&P 500 has increased an average of around 8% one month after a market correction bottom and more than 24% one year later, the Schwab Center for Financial Research finds.
Crashes are downturns of more than 20%. They’re almost always the prelude to a recession. Financial casualties are fierce, as the 2008 demise of venerated Wall Street firm Lehman Brothers shows. Depending on their severity, crashes can last from 11 to 23 months and take up to a maximum five years to climb back. The market’s worst crash came in 1929, with the Dow Jones Industrial Average plunging 70% until its July 1932 trough. The damage was bad enough that the Dow took 25 years, until 1954, to return to its 1929 level.
Crashes typically are born of deep economic crises, often global in scope, such as the 2008 sub-prime mortgage debacle (the S&P 500 fell 57% then) or the pandemic shutdowns (off 34%). The intriguing epilogue to the 2020 crash was that the market recovered very rapidly, hitting new highs, thanks chiefly to a bounteous government stimulus. Since 1946, there have been 12 crashes, with average losses around 35%, and the market can take up to four years to recover.
Market debacles are as inevitable as heat waves. As long as you can afford to ride out the worst times, you can emerge intact or even ahead. After all, even Dante does eventually manage to escape from hell.
TikTok & Beyond: The Best Mobile Video Editing Apps
Top videos you watch on TikTok and Instagram have often been produced on full-size PCs, but with smartphones offering more-capable video editing tools, more and more people are editing videos on the mobile devices themselves. Both Androids and iPhones now have a multitude of impressive video editing apps at their disposal. Some of the apps are template-based, requiring you to do no more than select your photos and videos to produce a compelling social video. Others give you nearly as much control as a sophisticated desktop video editing app, with tools for overlays, time remapping, motion effects, and audio editing. Here’s our take on the best of the mobile video editing lot.
Adobe Premiere Rush
Adobe’s well-designed mobile app for Android and iOS, Rush, syncs projects to your Creative Cloud account so you can continue editing a project on Premiere Pro on the desktop, but you can use it for standalone mobile editing, too. Versions of Rush itself are available for macOS and Windows, as well. You can shoot video in the app either in a simple or advanced mode, which lets you manually set aperture and focus. Once you’ve got some content, you can add titles, soundtrack music, and graphics overlays. For vertical output like TikTok, the Auto Reframe finds the active area of landscape shots and crops accordingly. The standard adjustments for lighting and color are at your disposal, and you can add track overlays and speed changes. One thing you won’t find are project templates like those offered by other apps here. After rendering a project, you can export it directly to Behance, Facebook, Instagram, TikTok, or YouTube.
Adobe Premiere Rush Review
iMovie was among the first truly functional mobile video editors. The way it handles timelines, letting you scroll the track with your finger rather than moving an insertion point cursor like you have to do on desktop video editors, was a major helpful innovation. The app—which is only for iOS, of course—lets you manage all the standard video joining and trimming as well as tackling more advanced video editing, like green-screen compositing and speed altering. Among our favorite iMovie features is its Trailers templates, which show you exactly what kind of shots to insert. Another plus—you can continue editing projects on a desktop Mac in iMovie or Final Cut Pro.
Only available for iOS.
Canva targets small business owners who want to up their social media game to promote products and services. It’s completely template-based and loaded with stock content so that you don’t have to worry about being a pro editor to make things look nice. It lets you make something without needing a single shot of your own. But you can, of course, use your own video clips and photos, as well as do fancy things like stacking simultaneous videos in a vertical layout or use overlays that you can crop. That said, the app lacks some basic video editing features like adjusting light and colors. You can think of it more as the video equivalent of a graphics design application, with strengths in text, shapes, and borders. Canva is available for free use, but many of its features, stock content, and templates require a Pro subscription, which also adds collaboration features for design teams.
CapCut Video Editor
This well-designed free app (owned by TikTok creator ByteDance) makes short work of creating shareable videos, thanks to its ShortCut option. With CapCut, you select clips and photos, and the app adds background music and effects. It added a video shake effect and flame overlays to one test video, but it took a couple minutes to render 30 seconds worth of clips on my Samsung Galaxy S21 Ultra. You can split clips, add text, remove backgrounds from shots with people, and even use overlays with transparency. When you’re done, the suggested place to share your work is —you guessed it—TikTok.
Available for both Android and iOS.
InShot is a fun-looking app that lets you produce not only video compilations but also collages and photo edits—but that doesn’t mean it’s weak in video tools. When you start, simple help tips show you how to split and trim clips, zoom in on the timeline, and swap clip positions. One of its strengths is that it gives you a number of stickers to overlay on your videos, in addition to text. Unlike competing video app Splice, InShot lets you easily position your overlays either by dragging the item around with a finger. Picture-in-picture, masking, cropping, and speed changing (including one-click freeze frame) are all at your disposal, as are a generous helping of transition styles. Surprisingly, the app even offers keyframe editing, which lets you animate effects. Background music is available to add from a decent library of stock, but there’s no image stock. The app is free with ads and watermarks on your output; you can remove ads for a one-time $3.99 or better, remove both ads and the watermarks—as well as getting more effects and stickers—for $2.99 per month, $9.99 per year, or $29.99 for forever.
Available for Android and iOS.
Splice has just about the slickest interface of any mobile video editing app, with a clear workflow and all the tools you could want. You can easily create picture-in-picture overlays (with transparency), chroma keys, masks, and speed changes. The app also supports HDR output. Nifty transitions are at your disposal as well as glitch and vintage effects and tons of text styles. You don’t get quite as much stock content or objects to overlay as you do in PowerDirector’s mobile app, though Splice’s music library is excellent. The price, is a bit steep, however, starting at $2.99 per week or $9.99 per month.
Available on Android and iOS.
Vimeo is the video hosting service used largely by movie and video professionals. In addition to hosting videos, the company puts out a screen capture program called Vimeo Record and a mobile video editing app called Vimeo Create. Vimeo Create makes it easy for marketers or just regular folks to put together a compelling piece of video. The template-based app is free, but some templates require a $24.99-per-month Pro account. Accounts can also take advantage of stock libraries of video and music. Luckily, you can filter template options to find the free ones. Adding video can be slow, but the app emails you when it finishes processing. The app lets you add stickers and text with animations, and it automatically applies template-based transitions. It doesn’t offer much in the way of detailed editing options like keyframes, overlays, or time remapping. Many of the stickers and styles are suitable for creating engaging sales and marketing quick takes, so this highly automated tool is best suited for people in those fields who want to produce something good-looking without getting into the weeds of video editing.
Available only for Android.
Google founders earn $42 billion in 100 days
Founders of the internet search engine, Google Larry Page, 48 and Sergey Brin, 47 have earned $42 billion dollars in the first quarter of 2021.
With a total worth of $104 billion, Page has earned $21.2 billion in 100 days, while his founding partner, Sergey Brin, with a wealth valuation of $100 billion, has earned $20.4 billion in the same period.
The majority of Larry Page’s wealth comes from his stake in Alphabet, the parent company of Google. The Standford trained entrepreneur currently holds $12.6 billion in cash.
Sergey Brin’s wealth valuation is also derived from his stake in the world’s most popular search engine and presently, his cash holding is valued at $12.7 billion, Nairametrics noted.
The growth of the United States economy is said to have boosted the buying pressure on Google shares, leading to a surge in the founders’ gross income and wealth.
Global investors are increasingly holding on the tech juggernaut’s shares as amazing economic data from America’s service industries coupled with an advance in the tech sector fueled the hike in Google shares seen in recent months.
After winning the long standing US Supreme Court case against Oracle, financial reports note that investors consequently invest significant amount of funds into Alphabet Inc. the parent company of Google.
The search engine’s recent price action reveals the stock presently, is trading at $2,285.88 closing its 52-week high of $2,289.04 with a yearly return on investment currently pegged at 89%.
Stock experts have expressed surprise by such record gains in Google shares despite a swift move seen lately by some institutional investors into utility, energy-based stocks and of late U.S Treasury bonds.
Alphabet Inc currently is said to have a market value of about $1.54 trillion.
The recent earnings of Page and Brin at $41.6 billion, is collectively much more than the total foreign cash reserve holdings of Africa’s biggest economy.
It also surpasses Nigeria’s foreign cash reserve which stands at a gross valuation of $35 billion by $6 billion.
GoDaddy security breach exposed 1.2 million WordPress users
GoDaddy, a web hosting company, stated on Monday that an unauthorized third-party access had exposed the email addresses of up to 1.2 million current and inactive Managed WordPress customers.
The problem was detected on Sept. 6, according to the company, and the third-party accessed the system using a hacked password.
The company, whose stock dropped 1.6 percent in early trade, said it had blocked the illegal third party immediately and that an investigation was ongoing.
What GoDaddy is saying
Chief Information Security Officer Demetrius Comes said in a filing. “We identified suspicious activity in our Managed WordPress hosting environment and immediately began an investigation with the help of an IT forensics firm and contacted law enforcement.”
The document also stated that the required credentials had been reset and that it will work with users to provide new SSL certificates. The company expressed their regret for the event and the distress it has caused its customers.
“We, GoDaddy leadership and employees, take our responsibility to protect our customers’ data very seriously and never want to let them down. We will learn from this incident and are already taking steps to strengthen our provisioning system with additional layers of protection.”
What you should know
This isn’t the first time GoDaddy has been exposed to a security breach. An AWS error exposed data on GoDaddy servers in 2018, and an unauthorized person compromised 28,000 user accounts in 2020. GoDaddy was also mentioned in a cyberattack that brought down a number of cryptocurrency-related websites last year.
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