Online Investing Daily

Are you going to your work every week and putting in a solid effort and feel like you are not getting ahead? Thats why they call it the rat race. Its simply a routine of competitive activity that basically gets you nowhere. You are simply exchanging time for money and the vicious cycle just repeats itself.

To make it even worse every time you turn on the t.v. you hear things like: financial crisis, economic free fall, real-estate values free falling, etc So what does the average person do in times like this? They scurry right back in the rat cage and spin the wheel a little harder. Can you blame them? Its pretty tuff to allow yourself to walk a way from a steady income when everything around seems so uncertain.

Gratefully there are a few things that you can depend on. And one of those things is that here at U-Turn we have found a better way. A way to get out of the rat race with out the gripping fear and hesitation that usually comes with a new venture. Vending is the perfect opportunity to begin while keeping your present career.

Everyone who has studied economics can tell you that the only way to really break free from the rat race is to start earning passive income. Money that is coming in that you dont have to spend time actively earning. Well as a vending route owner you can be at your job or on a tropical island, it makes no difference where you are. Your vending machines will still be working hard and putting in their time for you. Producing all that income with out costing you all of your time.

There are 3 steps to building wealth and the business model for vending fits perfectly with them. In fact we have seen hundreds of people follow these simple steps when applied to vending and achieve their financial dreams.

Step 1- Make It. You have to begin by generating income, enough income that will cover your current expenses and then some. The average income, according to the Department of Labor Statistics, of a Snack Vender Owner/Operator is $70.58 per hour. And the exciting part is your machines trade their time for that money not you.

Step 2- Save It. Once you are generating enough income to cover your costs and your funds begin to build up, you have what is called discretionary income. Discretionary income is in major shortage for rodents. But for U-Turn vending route owners who conduct their busiess with proven principles, discretionary income leads to step 3. Which happily, leads to even more discretionary income.

Step 3- Invest It. This is where the real freedom begins. Income from investments is all passive income. That means you dont actively earn it. Your time is yours. And your money is working for you. Now the question is where to invest. Common sense tells us to invest your funds into something that has a historically proven return on investment. So a simple formula that has worked for literally thousands of our customers is: purchase vending machines-collect income-purchase more vending machines- collect more income! Then you have more discretionary income and more discretion with your time!

Current economic circumstances do call for a conservative approach and minimizing financial risks. With minimal start up cost, small time demands, and a product that consumers will purchase regardless or their economic conditions ( who doesnt put a 25 cents in a candy machine, regardless of the size of their paycheck) vending is the ideal venture to get you to a place financially were economic rollercoasters dont effect you, anymore.

Most people wind up switching companies several times in the course of their lives. Hardly ever does a person stay with 1 employer their entire working life. Many companies offer a 401k plan as part of their benefits package. This leaves many people with multiple 401k funds in their name in their career course.

What should you do with your 401k fund after switching companies? You might look into a 401k rollover to IRA.

Transferring your 401K to an IRA fund comes with several benefits. I would like to talk now about a few of them.

First think about someone that switches jobs and employers 3 times in their life. They would have 3 401k plans to their name from the earlier employers and now a new one from their new company. Having so many accounts is very difficult to follow even for someone financially inclined. The paperwork would be 4 times as much as if you only have 1 account. This usually leads to discouragement and eventually the account holder will take less than the necesarry interest in his/her retirement. What a nightmare!

By rolling your 401k into an IRA fund after each job change, you can consolidate that paperwork and make your retirement much easier to manage. And you can continue to add your 401k plans to a single IRA as often as necessary. That same person that changed jobs 3 times in their career would have now only 1 401k and 1 IRA. That would be worlds easier to handle.

Also, consolidating your accounts into an IRA reduces your risk factor. If you leave the 3 previous 401k plans with the previous companies you run the risk of the companies going under. That would in turn leave your 401k worthless. There is still a small risk when you invest in an IRA with a financial institution, but the risk is much smaller than the alternative.

This will also allow you to take control of your planning and that is the creates reward. You don’t want to depend on others to take care of your retirement because they can’t possibly care as much about it as you do.

But the 401K is still a great investment as it offers 100% return of investment. You don’t find a deal like that every day. Contribute as much as your company will match and put any extra funds toward your IRA.

We know we should never reveal what what our old salary was - it can be negotiation suicide if you do - but how can we avoid giving it away if asked?

It is a bad idea to discuss salary early in the hiring process. However if it comes up, do not get yourself caught in a lie.

Consider the following if you are pressured for your salary history when you aren’t comfortable with it:

1) Just let them know that your past salary is not all that related to the work you’re going to do in the new job. The terms and work conditions and responsibilities are different, and therefore your past salary should not factor into your new job compensation.

2) If pressed to disclose the previous salary, as is mentioned by other respondents, mention with the total value of your compensation package. Also, re-iterate that it is not the same company, and so your previous salary is not terribly pertinent. There are so many factors including work life balance, benefits, holidays, paid overtime, etc,etc, that factor in.

3) When you go in for an interview you should be armed with knowledge of the current market. You should know your level of skill and professionalism and knowing your local job market you should be able to command the price you expect. You need to do your research, and be realistic about whether you are superstar talent or just high performing.

4) You may had a valid reason in your past for working at a job where the pay wasn’t up to industry standards. No matter what, it does not explain the value you will add to the company in a new job. You should always state your case for earning at least fair market value for the job, and know that if you’re a top performer, that you should be at higher levels.

5) If you divulge your salary, restate that you expect to be paid the standard industry rate for the posting, and explain what you do understand about the industry at that time. Most employers will respect you for standing your ground on the matter. Just remember that in negotiating you should be firm in your stance but respectful in your demeanor.

Do not lie in your interview. The employer has ways to detect what you really earned, either through asking you to produce a pay stub, or asking if they can confirm it with your previous employer. Remember, the value you bring is the value you bring, and that is the bottom line if the employer wants to hire you.

It is not a good idea to discuss salary early in an interview. It can be too much information when trying to negotiate a new salary, but how can you dodge the question?

It is a bad idea to discuss salary early in the hiring process. However if it comes up, do not get yourself caught in a lie.

The best way to deal when pressed for your salary information is as follows:

1) The compensation you earned in the past is for similar work but the total compensation package is not related to the work and company your going to. Your past salary should not factor into your new job.

2) If the employer insists you mention your previous salary, mention with the total value of your salary package. Also, restate that it is not the same company you will be working for, and so your past salary is not related. There are so many factors including lifestyle, vacation, time in lieu of pay and other things that also factor in.

3) Be aware before going into the interview what the standard range is for that job, and know where your performance level would be within that range. Most people are not at the top end of the salary range, so unless you are a total star, don’t expect the absolute max unless you can justify it. Your clout will be confirmed by your reference checks it will be obvious if you are not in the highest percentiles.

4) Even if you were earning a low salary before, possibly even below the industry standards for that job, you should expect to be paid within that range when you go to your next job. You may have one of many reasons for taking an lower salary at your previous job. It does NOT explain your worth to the new employer, bottom line!

5) If you do talk about your salary history make sure to mention that you expect to be paid the current fair market rate for the job listing, and explain what you know about salaries in your field at the time. Many employers will respect you for standing up for what you deserve. Just remember negotiating is a professional situation and remember to be firm in your stance but respectful with the employer.

Do not lie in your interview. The employer has ways to detect what you really earned, either through asking you to produce a pay stub, or asking if they can confirm it with your previous employer. Remember, the value you bring is the value you bring, and that is the bottom line if the employer wants to hire you.