The Top 3 Methods To Make Money From Home Money

The most profitable way to make money from home is through the internet. The internet has opened opportunities for people from all walks of life and you don’t have to be a technical expert to join the online business world. Everyday people are buying and selling online all the time. Here are the top 3 ways to make money from home using the power of the internet.

1. Produce Your Own Information Product

An information product, generally available as an eBook, report or video course, is something that a customer can download instantly to their computer. An information product is a great way to make money from home online because once it is produced, you can sell it again and again

People who want the best information on a particular topic are willing to pay for it. They don’t want to spend a long time searching online trying to find it for free, when they can buy it instantaneously. You don’t have to be an expert to create an information product provided that you know more about the subject matter than your target audience. You can even outsource it somebody to produce it for you and then put your name on it.

2. Sell Other Peoples’ Products

You can sell a product that somebody else has already created. When someone purchases it from you, the product owner will pay you a commission. This business model is called affiliate marketing and is often the first method that people use when they want to make money from home. There are products and services that you can sell in just about every industry and topic that you can think about.

You don’t have to get involved with product development, payment programs, shipping or delivery as this is all done by the product owner. Your job is choose the best product for your audience and get prospective customers to visit the product’s sales page where they can purchase it.

3. Use Your Existing Skills

If you have expertise in an area that other people are willing pay for you use it to make money from home. This expertise can vary from creating graphics, language translation, internet design, marketing, sales, clerical, bookkeeping or financial services. In fact, anything that you would get paid to do in a conventional job. You don’t even need to build your own website as you can sign-up with freelance websites like Elance and oDesk who have thousands of customers looking for people with your skills.

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How to Outline Your Financial Goals Financial Planning

People save and invest to improve their quality of life. However, it is easy to make mistakes that can cause stress and cost you money. You can avoid those mistakes and keep your investment on track by outlining your financial goals.

It is a common investment mistake for investors to have no idea why they are investing. So, you should ask yourself…

Why are you investing?

Do you know why you are investing? What are you going to do with your money? What is most important in your life?

“Making money” is not a good enough reason to invest. How do you see yourself spending your money in a year? Five years? Ten years? If you can clearly explain your goals, you have taken the first step toward making your own investment plan.

With that in mind, write down your financial goal. One simple sentence is all you need. For example, you can write “buy a home”, “pay for college,” “start a business,” or “retire as a millionaire!”

Next, write down the amount of money you think you will need to accomplish your goals.

Don’t worry about trying to fit in every little cost. You can always revisit your target later when you check your performance. Focus on your goal, and try to write down a target number.

This number will be different depending on your goal. For example, maybe you’re buying a $100,000 home, you may want to save $10,000 for a down payment. Maybe you need $5,000 to start a business or $50,000 to pay for college. If you don’t have much money to invest, you can make up for it by investing over a long period of time.

Finally, consider the importance of your investment goals. How important is your retirement, your kid’s college tuition, or your down payment on a house? The importance of your investment will give you an idea of your risk level.

Every investment has risks.

You don’t want to take too many risks. However, you need to take some risks to earn a reasonable return. Also consider the amount of time you will be invested. If you have more time to invest, you may be able to take risks and still catch up if you run into trouble.

Ask yourself if you are ready to invest before you move on. Be honest with yourself.

You may not need to invest your money. Would you be better off paying off your debt? Can you afford to just save your money rather than invest it? Make sure you can commit enough money and time to investing.

It is important to stay motivated toward your goals and keep them in mind when you invest. Every investment decision you make should move you closer to your goals. You should be willing to learn, improve, and work toward your goals as you invest.

If you can stay committed and keep that motivation toward your investment goals, you are much more likely to succeed!

A. Michael Hayes, Jr

You can learn more about how to achieve your financial goals at my website, Great-Mutual-Funds.com.

financial planning

US Retirement System – The Next Obama Overhaul? Financial Planning

“A nickel ain’t worth a dime anymore.”

If you’re a baseball fan, you’ll likely remember Hall Fame Yankee catcher, Yogi Berra, who became best known for his humorous, cracker-barrel one-liners, including the above quote. His point, although made in the 1940’s, is just as true today. Uncertain future inflation and the erosion of future purchasing power is one of many factors which make financial planning for retirement so extremely difficult and why the government is feverishly studying how to secure today’s very shaky retirement system.

While the country attempts to digest the long-term impact of the recently passed healthcare bill, today’s administration has its eye on another major problem and much needed overhaul: the retirement system. In fact, government studies and recently proposed legislation cite the need for major changes in today’s retirement system in order to pre-empt financial disaster for middle class Americans, not just a disadvantaged few. Perhaps because the “tsunami” hasn’t hit, we have yet to see media headlines regarding the impending retirement crisis, but the government is working feverishly to devise, at least partial, solutions.

A number of potentially disastrous issues have the keen attention of the White House, including the following: (1) the largest generation in the history of the nation, the baby boomers, has begun entering retirement and will continue to do so for another fifteen to twenty years. In sheer numbers, the “belly of the python” should enter retirement in the year 2016. Some estimates forecast the number of retirees in America to double within the next generation, while the number or workers supporting them will significantly decrease; (2) the decline in the value of financial assets has been coupled with an equally dramatic decline in home prices across America, which has further diminished workers’ retirement security by eroding the value of the largest single investment for many middle-class families; (3) the shift from defined-benefit pensions to 401(k) and other defined contribution plans has left more workers than ever before to plan their retirements for themselves and to bear the risk of retirement investing alone; (4) Social Security is expected to meet a mere 40% of income needs for most retirees; (5) even for workers who save at recommended rates for their entire lives, dutifully stashing away funds into their 401(k) and IRA plans, the possibility of another market “disruption” always poses serious risks, as the recent financial crisis so tragically illustrated; and, finally, (6) the predominate use of defined contribution plans (unlike the good old days when retirees received a gold watch and a pension check for life from employers) leaves retirees and their savings exposed to the three great unknowns: (a) an unknown life span; (b) an unknown investment return; and, (c) an unknown future inflation rate.

With such tremendous financial vulnerability in retirement, those high up the government food-chain are researching how to avoid a potential train wreck. Translation – our federal government can’t afford the expense of providing huge supplements to Social Security in order to ensure our seniors avoid impoverishment. With little fanfare to date, the federal government has been carefully studying the above issues. In early 2010, the White House Task Force on the Middle Class produced a report which confirmed its worst retirement fears and stated, “The current system does not provide sufficient retirement security for millions of Americans.” The report went on to suggest promoting the availability of guaranteed lifetime income products, which transform at least a portion of retirees’ savings into guaranteed future income, reducing the risks that retirees will outlive their savings or that their standards will be eroded by investment losses or inflation.

The U.S. Government Accountability Office, in a July 2009 report, noted that, “Workers covered by defined contribution plans, in particular, risk making inadequate contributions or earning poor investment returns, while workers with defined benefit plans risk future benefit losses, due to lack of portability if they change jobs.” The “Retirement Security Needs Lifetime Pay Act of 2009” was proposed on June 8, 2009 by Congress (H.R. 2748) and reaffirmed on June 18, 2009 by the Senate (S. 1297). The two bills are nearly identical and propose to amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments from annuities by excluding up to 50% of lifetime annuity payments received under one or more annuity contracts, up to a maximum of $20,000 and otherwise includible in gross income in a taxable year. Some are suggesting the creation of Guaranteed Retirement Accounts (GRAs), which would give workers a simple way to invest a portion of their retirement savings in an account which is free of inflation and market risk. Finally, the Department of Labor included in a recent agenda an initiative by its Employee Benefits Security Administration (EBSA) to promote annuities for all workers as part of 401(k) and other retirement plan benefits. Studies performed by other credible sources, such as Ernst & Young, confirm the impending retirement disaster.

All studies seem to agree on one partial solution: Americans need to supplement Social Security with more guaranteed lifetime income. In other words, while Social Security is the government’s lifetime income to recipients, it now appears that the government wants Americans to supplement Social Security with their own “private layer” of guaranteed lifetime income. Essentially, the message from policy makers is to encourage Americans to take some portion of their defined contribution plans and purchase an added layer of guaranteed lifetime income to supplement Social Security. The size of the additional “lifetime income” layer is something which each individual needs to determine, based upon needs and resources.

Whether Republican or Democrat, for or against government management or interference in our private lives, we all care about the fate of those in retirement, particularly if that includes us, or soon may. Though lifetime income via private annuities is unlikely to become a legislative mandate, I believe it’s a positive for the government to offer incentives to Americans who buy them. Consider this: if you had the resources available, wouldn’t it be wise to purchase enough guaranteed lifetime income, adjusted annually for inflation, such that, when added to Social Security, guaranteed income would cover your basic needs for as long as you live? Any extra funds you could then use for vacation and fun or bequeathing to heirs, but you wouldn’t have to lose sleep over the prospect of winding up in the poor house. If able to cover the great financial unknowns, why would you gamble with your financial future?

Ironically, and regardless of government initiatives, the most challenging retirement hurdle may lie within our human nature. The psychology that seeing a lump sum of money in your monthly statement feels better than seeing a modest monthly income check, even if you live to be 105, is difficult to overcome. And, until the time arrives, it’s so difficult to see ourselves as old or to understand how swiftly savings can waste away. But, unless you are extremely wealthy, the great unknowns (investment returns, inflation, longevity and major market disruptions) may just bring you to your financial knees, should you live long enough. The real question is, “Can you take the actions dictated by prudence and wisdom or will your feelings dictate your financial future?” I welcome your opinions.

financial planning

Paintless Dent Removal Technicians in Demand in a Niche Market Money

PDR Technician Earnings – Fact or Fiction?

Yes, that’s right – the claim made by some PDR Technicians are that an experienced PDR technician can earn as much as surgeons! The paintless dent removal industry has existed for the past 30 years in Australia and not many know about its existence! I would estimate that very few – perhaps 1 or 2 per cent of Australians have heard of this industry. Knowledge of those that do is often vague – referring to ‘sucking the dents out’. The industry has progressed technologically!

So when claims that there are people who train for up to a year or two and begin earning such money within 5 years, the reaction is often swift and hostile. I am often met with blank looks – friends politely nod and smile knowing that I normally don’t tell lies. Alas few if any accept the claims.

After all how can such an industry exist for so many years and not seem to appear in the media? How can people not know about it by word of mouth! The paintless dent removal industry has been rather secretive for years and deliberately so! Why would anyone want others to know what you are earning let alone how!

It may surprise you that actually the media has reported on this industry. After the controversial claims of bad practice by

“overseas hail chasers” were made after the 2011 Christmas Day Melbourne hailstorm. Check The Age news paper. Actually it was this media hype that consequently put the paintless dent removal industry into the spotlight!

“… One estimate puts chasers’ earnings at $5000 to $10,000 a week. It’s all pocketed, with no insurance costs to cover, no workplace premiums, no tax paid, no responsibility.”

Whatever the article set out to achieve ultimately underestimated the public reaction. Enquiries into PDR training skyrocketed!

Surgeons versus PDR Technicians

Analysing the earnings of the medical profession quoted by Business Insider – $250,000 to $500000 per year. Let’s not forget the investment into education and the years to get there! Just the cost of education can amount to $10,000 per year after HECS! We have not yet accounted for insurance. OK fair enough, PDR Technicians in the infancy of the industry paid between $10,000 to $40,000 for training or a business franchise in paintless dent removal industry. Now however, the cost of training PDR technicians have come down considerably to as low as $2900 for a 5 day PDR Course. Can it get any lower? Perhaps in the future – currently it has stabilised limited by the earnings of the PDR technicians themselves. For the time being, any lower than this and PDR technicians may as well just repair a car rather than train others – they can earn more!

Paintless Dent Removal Earnings can be substantial

Dwelling into what paintless dent removal is and their earnings – simply put, it is the art of removing dents without the requirement of painting the vehicle. The theory is that keeping the original factory paint work is important. PDR technicians complete an average hail damaged car within a day. OK so how can a PDR Technician clear 250K per year?

Consider a quotation on an average vehicle being about $2000-3000 during a hailstorm. Between 60-70 percent of this quotation goes to the PDR Technician. So even averaging $1000 per day to underestimate it during lost time, you are talking $200K to $300K per year!

Still not convinced? OK so not everyone can leave their family and chase hail around the country? There has to be an understanding between spouse and PDR Technician for them to go away for weeks or even months at a time not seeing their family!

The PDR Technician and Retail Sector Earnings

Well there is the retail market too. In the retail sector, paintless dent removal technicians contract to car sales yards, auctions, car rental fleet cars and the private clients to remove accidental vehicle damage such as car park and door dents. Although this usually requires more effort to come close to the larger earnings by hail repair standards, it still can be achieved! Here’s why…

The average rate for repair of one dent being $80 to $130 per dent depending on size or difficulty (not over-inflated when considering call out fees for plumbers and electricians). Repair one dent and charge even $80. Repairing 5 dents a day nets you $400! One dent can take a few minutes to 20 minutes to repair depending on experience. So hypothetically, even a single client can net $146000 per year! It is not uncommon to get several clients in a day but not every day. However, considering repeat clients and the odd customers who want their cars ‘clean’ of dents (cars are the second most important commodity in Australia), and further referrals for a good PDR technician, the numbers start adding up to that figure of $250k per year. And let’s face it, and you check yourself the next time you are stuck in a traffic jam, check the side of the cars for dents – you will be stunned to know how many dents there are around you! One in three readers of this article should have a dent on their vehicle…

So who qualified for paintless dent removal?

The next most common question I get asked is if I am not a panel beater, does it matter? The answer is no. Well, yes, a panel beater has knowledge of vehicles – models, panels, parts – they spend four years minimum learning the trade at TAFE and through apprenticeships. But so do spray painters. How about mechanics and their knowledge of cars. Throw in auto-scratch repairers, car detailers, window tinters and paint protection technicians. Yes, panel beaters are the most frequent clients for paintless dent removal training courses. But PDR courses can adopt other related trades.

What if I am not in a trade?

A course run in 2012 attracted a person who worked in administration within a bank. Yes a banker. It was our first non-industry person to train. We took on the challenge of training him but so did he! After a few hours on the first day of training, not only did he flourish, he actually excelled! Among his colleagues, it became apparent he was consistently producing the best dents amongst his group which included a panel beater! How can this be? He never touched a car in his life! He had to be taught how to remove and replace parts. Well, it is often said that attitude has a lot to do with success in PDR courses. He had everything to gain.

“Sometimes panel beaters are harder to teach if they come in with the wrong attitude, lack of patience or being two heavy handed.”

Are there women PDR technicians?

There is no secret that the paintless dent repair industry like the auto vehicle repair industry would be male dominated. Talking to a PDR trainer in 2015 who had trained mostly men but a few women. Those women however overall seemed to produce better work perhaps because they are not so “heavy handed” and perhaps some added “determination”. There are no conceivable reasons or barriers not to have women in the paintless dent repair industry.

A Career Changer?

The first phone call from clients tells me a lot about the person applying, their plans and underlying reasons. Some are subtle, others attempt to dominate the phone call – others simply know what they have researched and go for it! One of the myths however I immediately dispel is that this is not a “job” career change. Paintless dent removal is a business, a contractual business. Whether you work for yourself or contract to others it still is a business operation – no wages or salaries. So a sense of security is lost as well as challenges in finding the working clients. But there is a sense of freedom to work your own hours and choose your own clients once established. Despite the pros and cons, those that flourish are usually well known for their quality.

Can anyone do paintless dent removal?

In the extensive research across the internet and reading the many minds of PDR technicians themselves, there is a unique set of circumstances and conditions that has led PDR technicians to approach the industry and succeed. PDR technicians have the following qualities:

  • determination
  • perseverance
  • self belief to succeed at all odds
  • hard working
  • good eyesight
  • business minded
  • innovative
  • ability to work alone or in a team
  • ability to work in a variety of conditions
  • flexible

Most of the older generation of PDR technicians were fortunate enough to know or come across another PDR technician and get trained. Increasingly though more are getting into the industry through PDR training companies. The qualities listed above though are still important.

Success is hard earned

Becoming a PDR technician requires complete determination and perseverance because it is not easy to begun with. The first few hours of a paintless dent removal training course quickly sets the record straight: metal tool on metal panel is not a good mix. Paintless dent removal requires ultimate skill, determination and perseverance. It is too easy to get wrong, too easy to quit! Hundreds of hours of practice to make it through and become comfortable. In fact, two different sources of “training on a bonnet stand in the lounge room next to their wife watching TV” says it all. Just like intense determined training gets some to the Olympians to a gold medal – it takes such practice and determination to succeed in PDR.

Supply and demand

The old rule of “supply and demand” has a lot to do with the earnings of PDR Technicians. There are conflicting reports on there being too many PDR technicians out there. Are they simply trying to protect the industry for themselves? Because every time there is a major hailstorm, vehicle repairs often take up to 12 to 18 months to complete! Why? Supply and demand – there simply is a lack of quality PDR technicians in this country to do an ample amount of work. Furthermore, should we allow overseas PDR technicians to the work Australians can do? Heaven forbid when Sydney with a population of 5 million gets another April 1999 hailstorm! Why we still get car loving repairers into spray painting and panel beating when there are opportunities to get into the paintless dent removal industry defies belief!

Conclusion: Who will ride the lucrative rollercoaster?

Convincing anyone to enter this industry is like drawing blood from a stone! Making the change is difficult, requires planning and commitment. Do the risks outweigh the odds of success? You never know if you have what it takes to get into this industry. From the writing on the wall if you get through, whoever does ride the rollercoaster may be set for a lucrative and rewarding career! You never know if you have what it takes to get into this industry.To this day, I have yet to see an unsatisfied PDR Technician!

money changer

Can We Build a Robotic Oil Change System? Money

The other day, I was talking with an acquaintance. He is working on his Management in Engineering Degree amongst other things. After talking with him briefly about the mobile oil change business, it occurred to me that maybe someone needs to create an Oil Change Robot system to change oil in car fleets such as rent-a-cars, truck fleets, GSA car lots, and US Military vehicles to save money on training, logistical costs, and Army, Navy, Marine, and Air Force mechanics. Okay so, let’s talk, I mean is this even possible?

Why sure it is, in fact one oil company has already designed a robotic re-fueling system, so you can just pull up to the pump, and the system opens the little door, unscrews the gas cap, aligns it’s arm, puts in the nozzle and then pumps. When completed, it removes the nozzle, screws back on the gas cap, and gently closes the door, and you are done. Today, you would just hold up your iPhone and wave it over the payment system, and you are paid, fueled, and basically good to go right? Sure, why not.

Indeed, out think tank was discussing this the other day, as such a system could be used to refuel robotic drones, meaning no people would be needed for the flight-line in some foreign country to refuel, or tie down the aircraft, robotic systems would do all the work. Too far-fetched you say, baloney, even Google has a self-driving robotic car now. Yes, it did get into an accident, but guess what? It was the other cars fault – the one driven by a human!

You may think this is silly for a mobile oil change rig, but I think it’s beautiful and having been in the car washing business, I can tell you that it’s mostly robotic using robotic sensors such as sonar, electronic eyes, optical flow sensors, and infrared systems in a few cases. In the case of a fleet of vehicles, it’s simple, all the vehicles are unlocked, and everything is in the same place, the oil change robot can just drive along and do the vehicles without human labor, no more worries about health-care costs, pensions, workmen’s comp, training, scheduling, human resources, work place injuries, strikes, or shortages of qualified technicians you see?

The original systems might be costly at first, but the number of companies, agencies, militaries, and fleet owners that would buy them could generate significant advantages in economies of scale to mass produce these systems. So, why not I ask? Please consider all this.

money changer