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Aug 32021

How to Maintain a Productive and Happy Workplace

By |August 3rd, 2021|small business|0 Comments

Most employees associate work with boredom and misery, but that should not be the case. If you want to keep your employees productive and motivated, you can employ the following tips.

Start Each Day with Positive Body Language and Conversations

How does the day start at your workplace? You need to find a way to make your employees feel valued every morning when they walk into your establishment. Studies show that men smile about eight times a day while women smile about 62 times. You want to be part of the reason why both your male and female employees smile more, and you do not have to do anything major to make it happen. A warm handshake or a “Good morning!” coupled with a smile when greeting your employees in the morning should suffice.

Plan Outside-of-Work Events

It is often said that all work and no play makes Jack a dull boy, and you probably do not know how true that is. Staying in the same place all year creates monotony. That is when employee productivity and motivation go down. To counter that, you can plan out-of-work events where employees get to enjoy a change of environment.

A change is as good as a rest, and you would be surprised how much an occasional work trip for team building can increase your employees’ productivity. Of course, you will have to finance such events, but it will be worth your while. Consider out-of-office picnics, happy hours, and game nights.

Obtain Employee Opinions About Major Decisions

Yes, you are the proprietor of your business and you decide what happens with it. However, it would be wise of you to involve your employees when it comes to major decision-making. Anytime you are thinking about making changes as far as your business goes, you should ask for your staff input.

For example, research shows that about 93% of U.S. employees get to enjoy direct deposit benefits. Are your employees interested in something like this? What are they looking for in terms of employee benefits? Ask for their input so you can be the best boss. Doing that will make them feel valued and truly part of your organization. Needless to say, you can expect high levels of motivation and productivity, too.

Trust Your Employees

Trust is everything, especially at the workplace. By showing your employees that you trust them, you increase their motivation levels, which is the main ingredient for a successful business. Think along the lines of assigning duties without supervision or even letting different employees run the business for a day or two when you are absent. You could also trust them to make some decisions without your input. Such acts show that you trust your employees and will be beneficial for you and your business in the long run.

Bring In Gifts for Your Workplace

Gift giving is a love language, and who says that you cannot show love to your employees? In fact, your workplace could use that as a way of displaying employee appreciation. Aside from pointing out the good that your employees do and rewarding it, you can gift them occasionally.

Keep records of your employees’ birthdays and offer them gifts just to show that you care beyond what they bring to your business. Studies show that receiving flowers makes 86% of people feel special, so why not send out a bouquet with a thank you note to individual employees on their special days? You can be sure that they will appreciate it and look forward to coming to work every day.

Ultimately, it will take some effort from you to ensure that your employees are motivated and that you do not experience a high turnover rate. The tips here will certainly help you keep your organization a happy and productive place, so go ahead and make the most out of them.

Aug 32021

Tips for Eating Healthy and Staying Fit While Saving Money

By |August 3rd, 2021|Personal Finance Tips|0 Comments

Eating healthy and staying fit can seem like difficult tasks when you don’t have a lot of money to invest in yourself. However, there are several ways you can spend less and be healthier at the same time. Here are some tips to get you started.

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Jul 312021

How Much Does Invisalign Cost? For Me, $1,050

By |July 31st, 2021|Blog, Personal Finance Tips|6 Comments

They say you should brush the teeth you want to keep every day, but that won’t make them straighter. I wanted straighter teeth, but I didn’t want to deal with ugly metal braces in my mouth. Or deal with an orthodontist tightening and readjusting the metal braces in my mouth regularly. Invisalign was my only option. But there was a problem – Invisalign clear aligners are laugh-inducingly expensive. So, how much does Invisalign cost?

Invisalign Trays

Invisalign braces can cost anywhere between $2,000 and $10,000. 

The average cost of Invisalign braces, according to their official website, is $5,000. So how much does Invisalign cost most people?  (more…)

Jul 312021

Can I Live off the Interest on $1 Million?

By |July 31st, 2021|Blog|0 Comments

Money opportunities are usually buried at the gravesite of procrastination. It takes discipline to see an idea through to its conclusion – your personal benefit. And when most of us dream about making more money, we usually procrastinate instead of achieving the goal. We spend too much time dreaming about the money we wish we had instead of taking steps to get it. Some people religiously buy Lotto tickets. I knew a guy who regularly went to seminars offered by infomercial gurus promising the secrets to success and wealth. But too many of us dream about and spend imaginary riches instead of realistically attaining them. How many times have you heard that making $1 million is the hardest part of being a millionaire? Or that after making a million, you can just live off the interest without touching the principal?

Some things are easier said than done. And one of those things is attaining millionaire status while living a working-class lifestyle.

The average American worker takes home about $48,700 annually. 

And the typical American is burdened with over $90,500 in debts. 

And yet, we dream of instant wealth instead of devising a long-term approach to getting it. I had a friend who would openly hallucinate about the mansions, yachts, and cars he would buy when he became rich.

Meanwhile, he begged everyone he knew for gas money for a car that eventually got repossessed.

Financial independence is a mindset. Money is a tool to navigate life, not a means within itself. Money gives you options.

What do I mean by that?

To Live Off the Interest on $1 Million You Must Make a Million First

Well, the people who ask, “Can I live off the interest on a $1 million?” usually aren’t millionaires. Millionaires know the answer to this question. And they are more concerned with retaining and expanding their existing wealth than engaging in rhetorical debates about creating it in the first place.

So, let’s answer that question. Can you live off the interest on $1 million? It depends on personal finances, how much money you have, and your standard of living.

Before we get into all of that, we need to discuss compound interest. 

And finally, I’ll list some strategies to help you make that first $1 million.

What is Compound Interest?

Compound interest is the interest that you accrue on the principal, the amount of money saved or invested, and the interest. With compound interest, you generate interest on interest. 

When you take advantage of compound interest, your interest will grow faster over a longer period of time.

Look at it this way. A typical savings account pays 0.06% interest monthly. Compound interest can be applied daily, monthly, or annually to the principal interest depending on the financial institution. 

For the sake of simplicity, let’s say you have $10,000 saved in a savings account. The interest rate is 1% annually, a little more than the standard. If the interest is compounded daily, then you will accrue $101 after one year. Then, you will generate $102 in the next year. After a decade, you will have $1,052 generated due to compound interest.

The interest rates for compound interest are higher in CDs, Roth IRAs, and traditional IRAs. 

OK, so can you live off of the interest on $1 million?

It depends.

Can You Live Off of the Interest on $1 Million?

Before we answer that question, you need to ask yourself some questions.

Do you live in an area with a high standard of living? What is your tax bracket? What are your daily, monthly, and annual expenses? Do you owe significant debt?

The average two-person household has an annual budget expense of about $67,000 annually. A four-person household has yearly budgetary expenses of $85,000.

Now let’s imagine that you just earned $1 million, and you put it in a bank account. (How here is a compound interest calculator to help make calculations.)

To live off of the interest means that you never touch the principal. 

So, you should never withdraw the $1 million you have saved.

And it takes time for compound interest to accrue. It could take years or decades to live off the interest if you don’t have other sources of revenue or investments.

Imagine that you add $200 to the account every month at 0.06% interest with daily compound interest. After a year, you will have $1,003,001. After a decade, you would have $1,030,091.

Now let’s imagine the interest is 0.31%. After a year, you would have $1,005,509. And after a decade, you would have $1,055,865.

You could live off the interest if you contributed as much as possible monthly, had a higher interest rate, and never touched the principal.

And this is assuming that you are free of debt and have other sources of income.

Get a Plan and a Financial Advisor

If your annual expenses are $67,000, you owe significant debts, don’t have other revenue sources, contribute minimally, and never touch the principal, you won’t be able to live off of the interest on $1 million for years.

Or a decade, at the least.

Get out of debt. 

Live well below your means. 

Save money every day. 

Make good investments. 

Start a business based on your expertise or skills. 

Stay dedicated and disciplined.

Try to earn $10,000, then $100,000, and incrementally work your way to earning $1 million.

Hire a good financial advisor to help you.

Create opportunities to attain wealth. Or you will spend forever daydreaming about the money you will never have.

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Jul 282021

Sage Advice for Students Seeking Housing in West LA

By |July 28th, 2021|Personal Finance Tips|0 Comments

Moving into Los Angeles just by yourself is a big part of the adventure of dwelling in one of the world’s most exciting locations. However, you only want the moving-in part to be one simple element of a glorious story, particularly if you are a student looking for off-campus housing for the first time. Whether you are an innocent transfer student or a hardened upperclassman, it pays to remind yourself that you are going to be a resident in an amazing city that attracts almost 50 million tourists every year—and most of them wish they could be, like you, lucky enough to stay longer. So, remember to build in some leisure time each week to explore the City of Angels. (more…)

Jul 262021

Ways to Improve Your Landscaping and Increase Your Property Value Before Selling

By |July 26th, 2021|Real Estate|0 Comments

First impressions are everything in real estate. Potential buyers may take some time to make up their minds, but you can be sure that they will fall in love with your home first from what they see when they see it from across the street. Here are several ideas to improve your landscaping and ultimately increase the value of your property before selling your home.

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