5 Invaluable Tips for First Time Investors

The world of investment can be a tricky place to negotiate, even for the experienced. If you're a first time investor, you may be feeling overwhelmed by the potential you're facing ... and by the amount of mistakes that you are bound to make based on the wrong kind of strategies you plan to deploy (or have already tried but failed). Here are five suggestions you can use to make navigating these shark-infested waters a little easier so that maybe someday you can laugh at the silly mistakes you made when you were green and just starting out - or avoid making them altogether.

Show me the money. You need to be absolutely certain that you have access to the capital you will need that will be easy for you to initially invest. Especially if you're facing a fantastic opportunity, you want to avoid liquidating any assets or stocks or attempting to take some money out of your IRA. You also risk wasting the startup's valuable time and energy if you can't get the money together, which will lead to a negative reputation that may take you years - if ever - to shake.

Risky business. Investment is a risky proposition to undertake. After all, you should go into this business understanding that you might not ever be able to make back your investment. How do you feel while you're preparing to write the check? Are you nervous? Overly stressed? Or absolutely freaked out? Stop and take stock of your feelings before you commit. If the prospect of investing bothers you that much, perhaps you should wait until you feel readier to make an investment.

Spread it around. Always remember that, see above, re: investing is risky business! Many startups are prone to failure, so it behooves you to lessen the risk of failure by spreading your investments around, i.e., investing in more than one venture. The more successful the startups that do succeed, the more they will be able to pay for the ones that fail. As you begin to figure out which ones are the most successful, and as time goes by and your confidence as an investor grows, you can continue to focus on them. Know what you're getting into, however, and understand the investment itself. Researching and understanding gold facts, for example, will give you an edge up before you take the plunge.

Have patience. Success isn't usually immediate. Even the most successful startups can often take years before you begin to reap the benefits of your investment. It can be stressful and even aggravating, but you need to exhibit patience in order to play the investment game.

Practice your mentoring and networking skills. Many startups are looking for more than just the check you write them. You can help out the companies with whom you invest by mentoring them with your own personal business savvy or using your networking skills to introduce them to individuals who can give them a hand. Besides the potential to make money, you get the satisfaction of helping somebody else!

Exploring the Career Benefits of Earning a Doctorate

So you've ascended farther up the educational ladder than the majority of Americans. You've received a Master’s degree, but what's next? Do you head into the job market, or should you continue your education with the pursuit of a Doctorate? Although many PhD programs only require one extra year of school commitment, the benefit to your career can vary wildly. So how can you determine what benefits, if any, you'll experience on your career path by earning a doctorate?


In the world of education and research, the Doctorate has almost become a standard. It generally develops from an individual earning their masters and acknowledging that they are passionate about exploring their work in even fuller detail. For the researcher, the draw of being able to add to the world's base of knowledge on a subject can be powerful. But only if you see research as a key component of your career. Once you get on that track, it's difficult to get off. The bottom line is, most job offers for PhDs are either in teaching or research. Discovery, exploration, and the deepening of our collective understanding are the goals, not necessarily personal or financial success. If you don't want to spend your life in a lab or a classroom, you may want to look elsewhere.

So what do you want? Earning your doctorate generally places you at the top of your field, from an educational standpoint. Therefore, the field of study you pursue should be intimately tied to your career goals. And not all of them pay. Studies have shown that only in certain fields (medicine, the sciences, and business and financial studies) does a Doctorate lead to a significant raise in pay grade. But looking at all fields of study where a PhD can be earned, overall the benefit is almost negligible. In some fields, there's no pay raise whatsoever for a Doctorate versus a Masters. So choose your field wisely if you're keen on pursuing that extra degree.

And what's the bottom line? As of 2008, those who earned Doctorate degrees were seeing median annual earnings of over $80,000. Additionally, they were faced with just a 2% unemployment rate. In today's unstable job market, that consistency of opportunity and financial expectation may be more important than anything else. And the networking opportunities you'll find in a Doctorate program will certainly be of benefit. Many of the world's leaders and key influencers have Doctorates, and by pursuing your own you can gain entry to that exclusive group. The cost of earning the Doctorate can also be managed, as there are plentiful opportunities for fellowships, grants and loans for those that choose to pursue the degree. However, simply having that Doctorate is no guarantee of employment. There are so many PhDs in the job force (an academic report numbered graduates with Doctorate degrees at more than 100,000 between 2005 and 2009), that it is no longer a guarantee of higher placement or financial opportunity. And the courses are often so specialized that the job search can be difficult, even more so for those leaving academia for the private sector.

So choose the specific program wisely, and go into it with tempered expectations. There's great fulfillment to be found in the pursuit of knowledge, and certain financial gains if you graduate with an MD or pharm.d. But like all else in today's economy, there are no easy answers, especially in the world of higher education.

How Much Is an MBA Worth?

The economic downturn that began in 2008 has created an increasingly difficult job market, one that's still tough to crack today. Many professionals are considering returning to school and earning an MBA, whether in a traditional university setting or through one of the several excellent online programs. But does it pay to step out of the job market? It's incredibly difficult to predict the future job market, and a decision based on fear or instinct won't always pan out. Does having an MBA bolster your resume enough to make the loss of position and pay, and the added student loans, worth it? The answer depends on a number of variables.


Which MBA program do you choose? Not every school that offers an MBA program is the same. The prestige of the program you complete may be just as important as the degree you receive. A nationally-renowned program will lead to a much higher salary bump than a lesser recognized school, even if the education is the same. A simple way to balance the playing field is to pursue a specialized degree. Look for a program that offers a concentration, in areas such as investment management or real estate, and you'll make yourself far more attractive to potential employers in those fields.

Where are you located? An MBA isn't worth the same in every region of the country. Many geographic factors come into play. If you're working in a major market with a large financial sector, you'll see a much greater leap in salary increase than if you completed the same program in a rural area. So if finance isn't big in your community, perhaps you should think twice about taking on more student loans.

What field will you be pursuing? Be sure your industry values an MBA enough to necessitate the time involved. Traditionally, MBAs pay the best at positions in investment banking, at consulting firms, or working within the IT sector. Some other industries, such as not-for-profit organizations, or positions within the federal government, do not offer large enough salary bumps to offset the costs.

What can you afford? The average tuition for MBA programs at public and private institutions was over $40,000 in 2011, while the average expected starting salary during that same time has climbed to just over $90,000. Take into account your lost earning time, as well as your living expenses, and you'll have a clear understanding of where you'll be upon graduation. Of course, you can also choose to pursue an executive MBA online, which will certainly save you some money. But keep in mind the other points still apply.

Professionals pursue their MBA for a number of reasons. Oftentimes, it's to receive focused training in technical and managerial skills, many of which they already possess on instinct but can't describe. Without a doubt, more education generally results in higher pay, but the power of experience cannot be overstated. Hiring managers may want some field experience, even after receiving the degree. In the end, you'll have to decide how much an MBA is worth, based on careful analysis of your field, the timing, and the specifics of the program.

5 Ways to Cut College Costs

When people think of the "American Dream", the two things that usually come to mind are owning a home and earning a college degree. Unfortunately, with the current state of our economy, both are becoming more and more difficult to achieve; difficult, but not impossible. Although according to a CNN Money report in 2011, tuition at many public universities rose nearly 8.4% (that equates to a little over $8,000), the good news is that there are some really solid money-saving tips that can help to cut college costs significantly, especially if you make it a point to have a financial plan 12-16 months ahead of enrollment.


Consider staying in state. Tuition plus room and board is cheaper to students attending a state college or university where they already live. So, it's definitely worth considering remaining (relatively) close to home. Matter of fact, you may be able to cut costs even more by actually living at home while completing your education. If you'd prefer living on your own, often college campuses provide off-campus housing listings that trade out free housing for work hours.

Seek out free funding. Each year, millions of dollars in scholarships and grants are overlooked simply because people don't make it a point to seek them out. There are traditional resources including the books "The Ultimate Scholarship Book 2012" (Gen Tanabe) and "How to Go to College Almost for Free" (Ben Kaplan), but there are also many available online. One of the quickest ways to narrow down your options is to put in keywords that apply specifically to the kind of student you are. For instance, if you're a single mother, try typing in "scholarships for single moms". If you're want to get your online criminal justice masters degree, "criminal justice grants" is something to look up. Remember, there is funding available based on age, race, religion, location, profession...the possibilities are endless. Be sure to check out Grants.gov---a government-based resource for grant information. Also check with your (or your parents') employers as well. There are many companies that provide scholarships to their employees, and children of their employees, too.

Rethink how to do your course load. If you're a full-time student, you're usually paying the same amount whether you're taking 12 credit hours or 16. Knowing this, you might want to consider going for the high end while registering for classes; more hours leads to a quicker graduation. Be sure to ask the college if they offer combined degree programs, which could shave off a year of education and give you a degree in three years rather than the traditional four. Also remember that going to school online is a viable option. Many online colleges provide accelerated courses where you can earn a degree in less time than if you had attended school on campus; sometimes, in as little as 18 months. If you're an older student, check each semester with your professors to see if you can get any class credit for life experience that you earned while in the workforce. Speaking of credit, it's a good idea for high school students to inquire about how advanced courses can transfer to college credit, and if you're a transfer or returning student, do all that you can to get the credits that you already have transferred over.

Don't be afraid to get 'em used. By opting to purchase new textbooks for class, you could be looking at spending $1000-1500 annually. In choosing to buy used textbooks (or these days, you can even rent them-Chegg.com and Collegebookrenter.com are two great resources!), not only can you save up to eighty-five percent, but there are some real perks to used books. Being able to benefit from previous owners' notes and highlights is just one of them.

Remember that work helps cut costs. If you have an immediate family member that is employed by a college or university, that is a good reason to put that school on your Top 10 list. Most institutions provide significant discounts to family members of their employees. Community and charity based programs like Americorps, Peacecorps and Teach for America offer about two semesters of tuition in exchange for a year of service. Don't forget to consider any work study programs that may be available once you are enrolled. Some provide not just a salary or stipend, but college credit along with it.

These are just a few ways that you can eliminate some of your tuition bill. Don't be hesitant to make the time to look for many others when it comes to getting information on financial aid, free software (like OpenOffice.org) and attending summer classes at a less expensive community college. The less debt that you incur, the more rewarding (and enjoyable) the college experience will be for you.

How Good Communication Skills Can Save You Money

There's no doubt about it. One of the absolute greatest assets anyone can have is good communication skills. However, sometimes, when it comes to communicating with others while attempting to buy things, you may wish you had earned your masters degree in communications online! You may be tempted to feel bad for speaking up in certain scenarios. You shouldn't. When it comes to communication in dealing with commerce, less isn't always (or necessarily) more.

In making major purchases. Most of us were probably told by one of our elementary school teachers, "There are no stupid questions." Even as adults, this is still something to keep in mind. When it comes to buying items, especially big ticket ones like a house or car, the more questions you ask, the better. Don't assume that the price that's being requested is non-negotiable or that there aren't adjustments that can be made to suit your particular needs. There are more than a few horror stories of homes purchased with bad plumbing or cars bought with an old timing belt (and if you purchased a foreign car, that could mean having to get a new engine!). We ask questions to get answers. Don't buy anything until you have the ones that make you comfortable with making a financial investment. And if you're open to cutting deal, offer up one.

In acquiring legal counsel. There are many studies to support that one of the main reasons why people file for divorce is a lack of communication. So, developing healthy communication skills between you and your partner might just save you a lot of money by avoiding court costs ("His Needs, Her Needs" by Willard F. Harley, Jr. is a great book that you can get for only about ten bucks!). However, there are times in life when a lawyer made need to be retained for a myriad of reasons and situations. Remember that they bill by the hour and before meeting with them, make sure to keep your objectives clear: Are you meeting for consultation on a matter or are you considering actually going to court? Either way, have documents ready and clarity on what you're hoping the lawyer can do for you. H/She is not there to tell you what you want so much as to help you get it. Knowing the difference in that fact can save you hundreds.

In going shopping. Sometimes people find themselves intimidated when it comes to dealing with customer service. They shouldn't. Being polite yet firm while shopping at your favorite store can sometimes earn you a great discount. If you see a sweater that's missing a couple of buttons or a book that someone has inadvertently written in, bringing it to the attention of the person at the register, or if necessary their supervisor, may result in you walking out with something 30-40% off of the retail price. More times than not, customer service wants to make you happy. When we leave dissatisfied, it's often because they didn't know about it.

In acknowledging effort. Something that only takes a moment is making the time to send a "thank you" note to the supervisor of a customer service agent that went above the call of duty to assist you. And while getting something in return shouldn't be the motive, a good customer is memorable. Restaurants have been known to send a coupon in reply simply for making the time to acknowledge their work staff.

No matter how you go about your day, you will have to communicate with someone to get something that you need. Aside from money, courtesy is your greatest commodity. Make sure to clearly ask for what you want in a kind manner, fully listen to the person assisting you, be patient and flexible and it just might amaze you the kind of results you get. When you treat people with respect, they often treat you and your money with respect. That's a winning combination.