Becoming a Millionaire

You don’t have to own the company or be a CEO. Here’s how to build a rich nest egg one paycheck at a time.
A number of the people profiled in "Millionaires tell how they did it" made their millions as entrepreneurs. But working for the Man doesn’t mean you have to be a wage slave or resort to buying lottery tickets to strike it rich. The trick is to maximize your income on the job (and know when to move on), make the most of your employee benefits and tax breaks and use that extra money to start investing.
1. Keep your eyes peeled for better ways to do your job. Streamline a procedure, shave costs, create a new profit center, become an expert on a specific topic, volunteer for a company committee -- anything that will make you stand out as a prime candidate for a promotion or a pay boost.
2. Don’t be afraid to negotiate. In a study of master’s degree graduates from her university, Carnegie Mellon economics professor Linda Babcock found that those who negotiated their first salary boosted their pay by 7.4% compared with those who didn’t bargain.
3. Get your ducks in a row and your numbers on paper. If possible, quantify how much your efforts add to the company’s bottom line. If that’s not feasible, spotlight your value with comparable salaries for workers in your position from a Web site, such as Salary.com, or from a professional association.
4. Plot your strategy when it’s time to move on. Create a professional-looking page on My Space that tells prospective employers why you’re an exceptional candidate, recommends John Challenger of the outplacement firm Challenger, Gray & Christmas. And don''t neglect more conventional networking: Join a professional association or show up at school reunions toting business cards. Milk your benefits.
5. Contribute as much as you can to your 401(k) and other tax-deferred retirement plans. You’ll not only build a bigger nest egg, but you’ll also cut your tax bill. In the 25% federal tax bracket, every $1,000 you contribute to a 401(k) trims your taxes by $250. And you’ll save on state income taxes, too.
6. Flex your tax-saving muscle. Contribute pretax dollars to a flexible spending account to pay for dependent care or out-of-pocket medical expenses. If you set aside $1,500 per year and you’re in the 25% bracket, avoiding federal income and Social Security taxes means Uncle Sam will subsidize almost $500 of your expenses.
7. Review your tax withholding. If you’re expecting a refund this spring, you’re having too much tax withheld from your paycheck -- and making an interest-free loan to Uncle Sam. That’s no way to become a millionaire. Put more money in your pocket by using Kiplinger’s withholding calculator and then filling out a new Form W-4.
8. Stash savings in a Roth IRA if you’re eligible. Withdrawals in retirement, including decades of compounded earnings, will be tax-free. This year, income-eligibility limits for a Roth increase to $114,000 for individuals and $166,000 for married couples. Invest like crazy.
9. Don’t delay. The quicker you get a jump on putting money aside, the easier it will be to stuff a seven-figure cushion. If you start at age 25, for example, investing $286 per month will get you $1 million by age 65, assuming you earn 8% annually.
10. Invest automatically, either through your employer’s retirement plan or by setting up a regular deposit to a mutual fund or broker. You’ll never miss the money, and you’ll avoid two big mistakes: buying too much when stock prices are high and not buying at all when prices fall.
11. Watch for fund fees. The more you pay, the tougher it is to earn an above-average return. The typical hedge fund, for example, takes 20% of any gains, a huge hurnds with expense ratios of 1% or less. If you trade individual stocks, watch those commissions.
12. Keep it simple. Be wary of get-rich-quick schemes or sales pitches for complex investments, such as oil-and-gas partnerships, that trade on the millionaire cachet to lure investors into buying high-fee products they don’t understand. Most millionaire households accumulate their wealth over the long term by sticking to a regular investing plan in a balanced portfolio.


Columbus Emmanuel
Info.colcash@googlemail.com
+2348062945857
www.colcash.com
http://colcash.blogspot.com

Do You Want To Start You Import And Export Business Online?then Read .

The internet is a platform where millions of people meet to communicate and transact business on daily basis.A lot of people have been able to successfully buy and sell various products while some people have only come online to defraud people.Various products can be sold online such as machinery,cars,computer and laptops,electronics,houses,clothes and lots more depending on the demand for it.The demand for a lot of products online are relatively high because they are lots more cheaper than buying in your country and they are also of high quality.
FACTORS TO CONSIDER BEFORE BUYING AND SELLING
1)THE MARKET.
The demand for goods is a very important factor to consider because when a product is of high demand,you will be able to make a good turnover.examples of such products include mobile phone and accessories,computers,electronics,cars,real estate,spare parts e.t.c
2)THE PRICE FACTOR:
This is a great factor that will also determine your income.At first you should follow this two rules:
a)Your suppliers price must not be higher than or same level with the market price.
b)Your price should be a little bit lower than the market price so that you can beat to market competition.Presently,we have been able to get some companies that supply laptops and real estates.The real estate deal has been signed with intercommunal estates with a contract of 15% from every deal while you select the price you want to sell for the laptops.All you will do is you will get the informations in your mail address because i do not want to place it here because it is much.
HOW TO SOURCE FOR SUPPLIERS.
You can source for suppliers on sites like www.alibaba.com and www.ioffer.com but you must know that you are at a risk due to the fact that yahoo boys offers you the cheapest price ever and it will make you unable to differentiate between real suppliers and otherwise therefore don't jump into it ratherlet us pull the train togetherThe full price list of this companies will be sent to you so that you can now set your price range and be able to make the full contacts.Well i must tell you that if you exercise patience and join me as we touch this,i can guaranty you huge profit and the end of each business deals.
TRADING FIELDS
The chief trading point will be starting up with is Ebay.Ebay is an online marketplace where buying and selling takes place.All you have to do is to register an their website on www.ebay.com but you need a credit card to register.As soon as you are registered,you select a product and place it for auction.As soon as you do,you must select a minimum bid e.g if you set a $10 as a minimum bid,the next bidder bids for $10.2 and so on until the bid expires and you decide to choose a bid winner.As soon as someone wins the bid,you have to contact him and give him the payment information.Secondly,we will trade with www.alibaba.com but tjere are lots of scams there therefore you have to upgrade to a trustpass member so as to get a lot of genuine customers and win big contracts.At this point,we will give you all you will need to attend to clients and win huge contracts on the site.
Thirdly,www.trulia.com this is where you can go to sell real estates thats if you want to go into this aspect.
lastly,you are required to go to search engines and search for the b2b market place.You will get numerous ones with the likes of sites like www.exporters.sg and so on i can bet you that this is a great place where you win huge contracts.
HOW TO RECEIVE PAYMENTS.
The payments methods used online are very numerous but you have to use the one that will build customers trust so that they can be confident doing business with you.At first,you should start with paypal as your means of receiving payments after which you should use bank transfers for large contracts.People might come with lots of payments methods like T/T(TELEGRAPHIC TRANSFERS),L/C(LETTER OF CREDIT).But try to inform them that the only payment method ou accept for now is just paypal for security purposes.Also do not accept western union or money gram payments.All questions regarding that should be prepared for the interactive forum.
You can log on to www.paypal.com to sign up for an account but note that you must use another country e.g Angols,China e.t.c.Please,do not use u.s or u.k addresses for a start due to the fact that you might not be able to open a US bank account because the u.s bank fully stopped opening accounts for my clients last month although they stopped opening accounts for Nigerians generally last year but on march 12th,ther informed me that they can no longer open accounts as they will be prosecuted if the government discovers
BUYING AND SELLING STRATEGY.
When you see an offer for a product.lets say a Nokia N95 costs for $80,which we all know that it is below the market price,then you can place it at a selling price of $130 and you will definately get a high sale so you have to monitor the market price as this is very important so that you will not fall at a loss.This also applies to othet products.
This is the end of this topic.please make sure that you draft your questions because i know that i can not touch every aspect now but when you ask questions,i will be able to touch those aspects.


Emmanuel Columbus
+2348062945857
www.colcash.com
info.colcash@googlemail.com
info@colcash.com