Temporary Vs. Permanent Income
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What does it take to become financially free, or financially successful? What does that even mean anyway?
Let’s talk about the two different types of income: Temporary and Permanent.
You can make money in this country in one of four ways: Employee, Self-Employed, Business Owner, Investor.
TempPerm
EmployeeBusiness Owner
Self-EmployedInvestor
The left column contains TEMPORARY INCOME types. In other words, if you have a job (employee) or work for yourself (self-employed) and you stop working for a day, a week, a month, or a year, the income stops. Your money making gauge goes to “E” for empty. Andy Albright
The right column contains PERMANENT INCOME types. With permanent income, you work and make money and YOU MAKE MONEY WHEN YOU DON’T WORK too! A business owner owns a business or businesses that generate income. An investor uses their accumulated capital to generate interest, dividends, etc. For this example, I’m going to target owning a business. Financial Freedom
Ask people which type of income they would choose to have and everyone will say permanent! But – 95% of the people in this country have temporary income.
Even if you own a business, you may not have permanent income. If the business owns you, it does not work: you’ve only created a job for yourself. If you own a business and spend every waking minute working in that business, the business owns you: you’ve only created a job for yourself. If you don’t have time for your family, your health, or to enjoy living, then the business owns you: you’ve only created a job for yourself. To achieve financial freedom and success, YOU must OWN the business.
A business owner who owns their business creates systems so that he or she can work in and on their business when they want or need to, but can walk away and live and enjoy their life when they want to. Because the business is not dependant on them to run, they can duplicate this process over and over and generate massive amounts of income. This is financial freedom.
What would financial freedom mean to you? What would it mean and how would your life be different if you didn’t have to worry about making a few bucks everyday just to pay the bills. Just to keep your head slightly above the waterline. What would you do with your life?
95% of the people in this country have temporary income because it’s what’s expected and engrained in us. We’re taught from a young age to go to school, make good grades, and get a good job. The first two are good things to do – go to school and make good grades, but the third creates temporary income. Wouldn’t it be better to teach people how to create financial freedom?
Only 5% of the population get’s it and can teach how to achieve it! You might understand some the parts and pieces, but putting it together takes a plan. Imagine going to the lumber or homebuilder store and ordering a huge truckload of 2×4s, brick, shingles, windows, plywood, paint, nails, etc. and having it delivered to a vacant lot. Imagine grabbing your hammer and saw and just getting crazy hammering and sawing and putting things together. You could work for months and never build anything. Why, because you left out the blueprint. You forgot that you need a detailed, proven plan to create something. That’s what we do at NAA. We build leaders. We have a proven system that you can follow like a blueprint to create permanent income. Grab your hammer and check us out!
Andy Albright
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Read Useful Secrets About Financial Education Program
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Discover Helpful Info About Financial Education Program
If you’re reading this then hopefully you are looking for a way to take control of your own finances by completing some form of financial education program. Perhaps you have sacked your financial adviser because he’s done such a crap job over the last couple of years and you reckon you can do a better job. Or maybe you’re just starting off and have decided to take responsibility for your financial future at an early stage.
If so, congratulations! The path to true wealth and prosperity lies in understanding your own finances and taking control of them. The path to failure is letting others, like financial advisers, family or friends, take control of your future by managing your investments or telling you what you should be doing. Worse still, is trying to do it on your own without understanding where you are going.
Therefore it shouldn’t surprise us that during recent months more and more people have fallen victim to the ill effects of money-related anxieties. The current economic crises in many countries have resulted in the loss of jobs, homes, personal savings and pensions on a global scale. Large financial institutions have collapsed and even the wealthiest nations have resorted to emergency measures to prevent total financial collapse. In the developing world, the rising cost of food and other basic commodities has also caused much concern and anxiety.
And while the prepaid debit card companies are trying to expand their offerings so they can attract more of the traditional “banked” customers, the banks are looking closely at trying to expand their own line of products into the underbanked.
One of the hallmarks of good advice is that it is put in writing. In general, there are two categories of written advice that you can obtain from a financial adviser; an investment plan and a comprehensive financial plan. An investment plan quite obviously sets out investment recommendations but it does so in the context of your current financial situation, your attitudes towards risk and your financial goals. It is therefore aimed at investing your funds so that you can achieve your short and long term goals with an appropriate exposure to risk. Because every investor has different goals, financial circumstances and attitudes to risk, investment advice should be tailored.
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How does being married affect the amount of money one can acquire from FAFSA/Financial Aid?
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My boyfriend and I are both very serious and are considering getting married. However we are both full-time students and don’t know how being married will affect the money we receive from FAFSA/Financial Aid.
We are currently dependents of our parents, live on campus and do not have any sort of income (We probably wont have an income once we’re married because we’ll still be full-time students).
Will getting married increase or decrease the amount of money we will receive from FAFSA/Financial Aid?
What exactly does the Expected Family Contribution mean on the FAFSA?
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I filled out the FAFSA and my EFC is $15,000, which is ridiculous because my Dad was laid off and has been on unemployment for 5 months, and Mom works as a manager at Target. School costs $9,500. Does that mean I am not eligible for any financial aid?
Does anyone know of any good scholarships? My GPA is really good, and I’m transferring as a junior with a major in Genetics and Cell Biology. I’m working as an intern, and I’ll only net about $4,000. ANY advice would be really appreciated.
I should also mention that my parents have told me there isn’t any money for me. No college fund for Chris. Anything I can get other than loans?
How do I reduce my EFC legitimately for FAFSA and CSS PROFILE?
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How do I reduce my EFC legitimately for FAFSA and CSS PROFILE? Can I reduce my EFC by not reporting certain savings and investiment assets that aren’t verifiable? If not, what other legitimate ways to fill out FAFSA and CSS PROFILE such that I get the lowest EFC?
Will shifting student’s savings and assets to parent’s savings and assets help reduce EFC?
How does the FAFSA application process work?
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I have a question, I wanted to know how colleges receive my financial information. I know Fafsa gives you a spot to fill out the colleges, but I have applied to more than ten colleges and they only give you ten slots so how do I kno my other 3-5 colleges know about my financial aid. I also wanted to know if I have to fill out any seperate financial forms for colleges, or is it only FAFSA or are there other forms.
How much fafsa grant will be deducted corresponding to my investment asset?
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I am a 20 year old dependent.
I have 2000dollars to invest in stocks.
However, I do not have any jobs. Therefore I have no income.
So, the only possible income for me right now is investment income.
I want to ask. For having 1000usd or 2000usd with scottrade, how much money will be affected for my fafsa grant?
How much does FAFSA help a Sophomore student?
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What is the best date to file your FAFSA if you want to maximize the amount of Federal Assistance you’re given?
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Can I apply for FAFSA as a sophomore in college next year?
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I didn’t apply for FAFSA aid this year (figured I wouldn’t get anything since my parents make about $110k a year), and I kind of regret doing so. My parents also felt uncomfortable about filling out all of the personal information. I was planning to file a FAFSA next year just incase, though, and I was wondering if you can file for a FAFSA as a college sophomore? Is the FAFSA a “by the year” thing or is it for four years?







