Invest For Your Retirement
By Koua Vang
July 24, 2020
When should we start investing for retirement? It is very important that you invest for your retirement as early as possible. The longer you compound the investment the more money you will have for retirement. The first thing you can do to invest is to contribute to your 401 (k). In 2020, the limit 401 (k) contribution is $19,500. If you are 50 or older you can contribute $26,0000.
It is a good idea to contribute up to the contribution amount limit because the money is before tax. By making contribution to invest in your 401 (k) it will lower your tax. Some employers will match you up to the amount you contribute. Other employers will match your contribution up to 5% of your annual income. It is like the employers are rewarding you and helping you to set aside money to help you invest for your future.
The second thing you can do to grow your investment is very simple. Pay down high-interest debt such as credit cards. The credit card companies charge an average annual interest rate of 17% so by paying off high-interest debt you will be able to save more money and then invest the money in the financial market to grow your money.
The third thing you have to do is to build up your emergency fund by saving enough money to cover at least six months expenses such as food, housing, utilities, and other expenses. Keep the money in a savings or a money market account so you can easily access the money for emergency expenses when the unexpected happens.
It is important to save early and then invest to grow your money, so when you retire the money will be there for you.
Technology
The Japanese's Invention Muama Enence Instant Translator
By Asian News USA Staff
July 14, 2019
The article, "Communicate In Almost Any Foreign Language In Seconds" written by Sponsored Content was about the new Japanese invention, the Muama Enence Instant Translator. This device is a language computer that translates more than 40 languages in real time.
Business
The Reluctant Entrepreneur Case Study
By Asian News USA Staff
August 4, 2019,
The title of the article is "The Start-up: Nanda Home." The article is about how the founder Nanda, who created a small unique alarm clock became successful. Customers bought more than 9,000 units of the equipment for about $50 dollars each so far. Nanda went to China and found a Chinese’s manufacturer on AliBaba.com which produced about 500 clocks that were sold out online.
The Nanda Home company has no full-time employees. The company outsources the clocks manufacturing. In addition, to the part-time employee, Nanda’s parents help her run the company. The current capital raised is $80,000 and the source of the capital comes from family. There is a huge market for gadgets which accounts for $145 billion in the U.S. last year. According to the Consumer Electronic Association the sale increased about 13 percent from 2005.
The revenue projections for the company are as follow:
In 2007, the projections revenue would be $1 million. In 2008, the revenue would be $3 million. In 2009, the projection revenue would be about $4 million. The company was able to break-even after two months. The company expected to have cash-flow positive of $650,000 in 2007. The company is projected to have $2.1 million of cash flow in 2008. By 2009, the free cash flow would be about $3 million.
Nanda says she hoped to put more products in the market by 2009. However, she indicates that without a full-time worker, she does not know if the new products launch will be as successful as the alarm clock. Nanda states, “You can pretty much outsource anything today.” According to Nanda, one single hit product is all it takes. For instance, iRobot’s vacuum continues to bring in 60 percent of the company’s annual sales. Nanda Home’s long-term goal is to develop her brand.
Business
It Is All About Making Financial Decisions
By Koua Vang, Asian News USA
Money is a topic that is constantly on people's minds. People save money for different reasons. Some people save money so that they can afford to buy the things that they want and need. Others save money for a rainy day. Some people save money so that they can invest the money to grow it. When individuals grow their money, they can live a better life and become financially independent. No matter the reasons, people want to handle their own finances. Some financial goals many people have include saving for a house, a new car, college, traveling, and for retirement. In order to save and achieve their goals they need to identify and set priorities.
Personal financial planning is the process of managing your money to achieve your goals. This process allows you to manage your money so that the goals you set can be accomplished in the future. A financial plan is a plan that identifies individual's current financial situation, which helps analyzes the individual needs, so that the financial needs, recommendations can be planned for by budgeting and investing. There are advantages to personal financial planning. Some of the advantages to personal financial planning include: protecting your resources such as money and assets throughout your life, by taking control of your money. When you take control of your money, you are much unlikely to get into debt therefore, not be dependent on others. In addition, it will improve your own personal relationships when your on top of your financial planning. Most important of all, carefully having a personal financial plan allows you to invest your money so that you can achieved financial freedom.
There are many factors that influence and affect the ways people save. Younger people in their twenties spend money differently from older individuals in their fifties. Individual income, household size, and personal beliefs affect the way individual saves. As society changes, and people are living longer, people should change the ways they save and invest for the future. According to The World Life Expectancy, the average life expectancy in today's society is about 80 years old. In today's society, it is very crucial to save for the future, since people are living longer meaning people should save up to invest in order to live comfortably in their retirement years without having to worry about running out of money. https://investor.vanguard.com/retirement/savings/when-to-start Learn personal finance investing, learn to invest, so that you can start to invest early for a brighter and better future.
Business
The Case for a Better Minimum Wage
By Ashley Vang, Asian News USA
Beep beep beep the alarm clock rings as the sun begins to rise. Thoughts begin to flood of another dreaded morning, another tiring day, another restless night that will be spent working a minimum wage job. In the United States, the minimum wage is the lowest amount employers can legally pay employees in exchange for their labor. These hourly rates can vary between each state. With some exceptions, the federal minimum wage sets the lowest standard of what employers in America can pay their workers. The federal law placed urges states to at least meet a certain rate of pay.
As of 2019, many people invest in countless hours of work to get paid an hourly wage ranging between “$5.15” in states such as Georgia, “$7.25” in some states (set by the federal law), and all the way up to “$12” in states such as California (STATE MINIMUM WAGES | 2019 MINIMUM WAGE BY STATE). Higher wages are due to state laws’ ability to supersede federal laws. These larger rates are usually increased in a gradual manner whereas $7.25 per hour has been the federal minimum base pay since 2009. Within these ten years, the economy continuously fluctuated through inflation and circulation of money. The economy has drastically changed and improved from the repercussions of the 2008 stock market crash, so the minimum wage should develop and increase with it as well. A stable economy with rising prices should be offset by raising the federal minimum wage. Thus, the United States should augment the current minimum wage, because it would steadily reduce poverty, increase worker productivity, and stimulate the growth of the economy even further. However, it should not reach $15 an hour except for in states with higher costs of living.
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