2019 Roth IRA Contribution Limits

Fall is quickly approaching.  Every October the IRS (Internal Revenue Service) releases their updated retirement limits for a number of accounts.  The Roth IRA is one particular account that many will be looking at.

For 2018, the contribution limit for a Roth IRA is $5,500 with an additional $1,000 catch-up for individuals over the age of 50.  The 2019 Roth IRA contribution limits will be announced by the IRS in less than two months.

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The government uses inflation numbers to determine when and by how much to raise retirement limits.  When it comes to IRA’s, any annual increase in contribution limits will be in $500 increments.  Meaning that there are only two possibilities when it comes to the 2019 Roth IRA contribution limits.

Either the limits remain the same at $5,500 ($6,500 for individuals 50 or older) or it is increased to $6,000 ($7,000 for individuals 50 or older).  It is expected that the 2019 Roth IRA contribution limits will increase to the latter amount.

So what does an increase in $500 a year for a Roth IRA account mean?  Well, for starters, instead of being able to contribute an awkward $458.33 per month to the account, you will now be able to contribute an even $500.  Of course this only applies to individuals under the age of 50.  Contributing on a consistent basis has proven time and again the best way to invest.  You can take advantage of the market when it hits various highs and lows.

Are you worried that you won’t have the additional funds to contribute an extra $500 a year to a Roth IRA?  Then now is as good of a time as ever to go and create your very own free budget.  The best way to see where you are spending your money every month is to track it.  Although it might seem like a challenge at first, you will most likely be able to find a way to contribute the additional $41.67 per month to your Roth IRA.

Why choose a Roth IRA?  There are many benefits to having one.  First and foremost, the money you put into it will grow and compound tax free through the years.  Additionally, when you do decide to withdraw from the account, you will not be required to pay any income taxes on the withdrawals.  It’s an especially good account to have in order to help offset tax burdens brought on by 401k’s and social security.

With the official numbers for the 2019 Roth IRA contribution limits less than two months away, we will have to wait a little longer, but we can predict that more than likely the amounts will increase.

Budget Smart, Invest Wise

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Teddy Bridgewater’s Net Worth

The beginning of the 2018 NFL season is officially a week away.  The Falcons and Eagles will get the season started on September 6th.  While teams are putting the finishing touches on their rosters, some players are entering a brand new system.

Teddy Bridgewater is one of those players.  He was recently traded by the New York Jets to the New Orleans Saints.  Bridgewater is currently about to begin his fifth season as a professional.  Teddy Bridgewater’s net worth currently sits at $2 million.

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NFL QB, Teddy Bridgewater

Teddy Bridgewater was the final pick in the first round of the 2014 NFL Draft.  He was selected 32nd overall by the Minnesota Vikings.  After being established as the starting QB in his first two seasons in Minnesota, Bridgewater had a terrible leg injury that would ultimately hinder his career advancement.

Before the 2016 season began, Teddy suffered a terrible non-contact leg injury during practice.  The injury was significant enough that it kept him out the entire 2016 season and virtually all of the 2017 season.  Due to the injury, the Vikings declined their fifth year option on the QB.

During the spring of 2018, Bridgewater was able to ink a deal with the New York Jets.  His one year deal was valued at $6 million.  Before even getting a chance to start the regular season, the Jets ended up trading Bridgewater to the New Orleans Saints.

Teddy Bridgewater’s net worth comes mostly from his initial rookie contract.  The contract signed back in 2014 paid Teddy nearly $7 million for four years.  It also included a nice signing bonus in excess of $3 million.

In the two NFL seasons he’s stepped on the field, Teddy has proved quite proficient.  He’s thrown for over 6,100 yards passing and a total of 28 touchdowns.  Additionally, he has also contributed nearly 400 yards rushing and four rushing touchdowns.

Teddy Bridgewater’s net worth should increase quite a bit if he is able to complete the 2018 NFL season with the Saints.  He has a number of incentives built into his contract for this season, most of which are irrelevant due to him being in a backup role to Drew Brees.  Regardless, if Bridgewater can assume a solid backup role or have a chance to shine, he could be positioned for a large, multi-year contract during the offseason.

Only time will tell what will become of Teddy Bridgewater’s net worth, but one thing is for sure.  His resiliency shown to come back from such a gruesome injury is a strong testament to his character.

NET WORTH OF OTHER NFL QUARTERBACKS

Matt Ryan’s Net Worth

Drew Brees Net Worth

Alex Smith’s Net Worth

Kirk Cousins Net Worth

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Adrian Peterson’s Net Worth

Preseason is in full swing, and the 2018 NFL season is just weeks away.  Excitement is already running around as people look forward to the cooling temperatures of fall and the football that comes along with it.

With the season about to begin, the Washington Redskins made a move to bring back one of the top running backs.  The Redskins signed Adrian Peterson to a one year contract valued at just over $1 million for the season.  Adrian Peterson’s net worth currently sits at $30 million.

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Adrian Peterson

Once touted as the most talented running back in the NFL, Peterson has struggled to find his place since a series of injuries.  The former Minnesota Viking was drafted seventh overall in the 2007 NFL draft.  He would go on to sign a rookie contract worth $40 million over a five year period.

In each of his first four seasons in the NFL, Peterson rushed for at least 1,250 yards and ten touchdowns each season.  Because of his performances, he ended up signing an extension in 2011 for $86 million over six seasons.

Adrian Peterson has rushed for over 12,000 career yards and 99 touchdowns through his eleven NFL seasons.  Some wonder what those numbers could be had it not been for a series of unfortunate events.

Peterson played in one game during the 2014 NFL season where he rushed for 75 yards.  After reports of child abuse emerged about Adrian, he would end up sitting out the remainder of the season.  Determined to make a strong comeback, Peterson didn’t disappoint during the 2015 campaign.  During 2015, Peterson rushed for nearly 1,500 yards and added 11 touchdowns.

Although he earned roughly $12 million in cash during the 2016 season, Peterson’s on the field efforts were again cut short.  This time due to a knee injury.  He played sparingly in three games during the season.  However, this amount of money earned definitely gave rise to Adrian Peterson’s net worth.

While many believe that Adrian Peterson’s career is coming to an end, you can’t dispute the fact that he is one of the best backs to ever play.  He is also one of the richest.  His career on the field earnings are close to $100 million.  The most of any running back to date!  Although the $1 million in salary for the 2018 season won’t raise Adrian Peterson’s net worth that much, it’s his love for the game that keeps him playing.  Will another contract await Peterson after this season?  Only time will tell.

OTHER NFL PLAYER’S NET WORTH

Matt Ryan’s Net Worth

Drew Brees Net Worth

Jason Witten’s Net Worth

Jarvis Landry’s Net Worth

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3 EASY WAYS TO BUILD WEALTH, FROM A GUY WHO DID IT

Building wealth can be accomplished by anyone who puts their mind to it.  Most of it is based on simple discipline and math.  I have already begun to build my wealth, and will continue to do so for the rest of my life.  Listed below are 3 easy ways to build wealth, from a guy who did it.

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Automate Your Savings:

Have you ever heard the saying, “You can’t spend what you don’t have”?  This is why automating your savings is so important.  Contributing to a company 401k plan is an easy way to do this.  The money is taken out of your paycheck before you have a chance to spend it.  This savings is simply automated.  Saving first and spending what remains is how many people achieve wealth.

Invest with Simplicity and Confidence:

Investing one’s savings isn’t rocket science, although some money managers and hedge funds will try and tell you it is.  Many companies, such as Vanguard, Fidelity and others offer low-cost mutual funds for the novice investor.  You don’t have to worry about picking stocks or making sure you have the right mix of stocks vs. bonds.  Pick a mutual fund that you feel most confident in.  For example, I invest in a mutual fund that tracks the performance of the S&P 500.  Many companies offer them and they are easy to setup.

Have a Long Term Perspective:

The only way wealth can be built in a short period of time is through luck.  Don’t rely on luck to build your wealth.  Instead, have a long term perspective on it.  Building wealth takes time.  It’s important that you don’t worry about the stock market when you’re trying to build wealth for the long term.  Stocks will go up, and they will go down.  They might even lose close to half their value like in the recent recession.  With a long term perspective, you stick it out through thick and thin.  Most importantly, YOU KEEP INVESTING!

Conclusion:

In today’s climate, everyone is looking on how to make a quick buck.  The reality is that there is no tried and true way to accomplish this.  However, there is a method that stands the test of time to build wealth.  By following the 3 easy ways to build wealth, from a guy who did it above: automating your savings, investing simply and confidently, and having a long term perspective, building wealth is not that far-fetched of a goal.  Compound interest is a beautiful thing, and when followed correctly, it makes building wealth one of the easier things in life to do.

Budget Smart, Invest Wise

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Focus on Results: Where to Spend Resources for Maximum Gain

When you’re running a business, working in any kind of managerial role or simply taking decisions on behalf of one for example as a marketing agency entrusted with a budget, what you’re doing every day is choosing where to spend resources to get the best results for the smallest investment. Those resources might be literally money, but the resources you have at your disposal could be the work-hours of the team you’re managing, the reputation of your company, even personal favours built up over time.

You need to make shrewd use of these resources, putting them into projects that bring in a bigger return than spending them costs. This doesn’t just mean profit: one of the most important things you can do is begin to recognise more indirect gains, from building a reputation for quality with your customers, spending money to build in risk avoidance systems that reduce loss from future projects and avoiding false economies, seeing the bigger picture is vital as you rate your decision making and account for it in front of others.

One of the most important factors at work here is the use of data to inform each decision you make. Using research on your own company, and from market research agencies like Attest mean you can approach choices with confidence about what your consumers want, the extent to which they’ll trust your brand, and exactly what you can do to get it to them. It ensures you’ll avoid problems like over promising, which can harm trust in your company in the long term and drive away the loyal repeat custom that success is founded on. With good data you can start to predict the outcome of your choice, and this modelling allows you to steer towards good outcomes and away from bad ones.

It’s important that your research and data gathering looks back as well as forward. Don’t just walk away from a project, especially if it’s gone badly (or at least, not as planned). Review your decisions, look at where your expectations differed from reality and try to work out why: you might need to make some personal changes if your preconceptions are causing to allocate resources wastefully, or you might need to change your data gathering and analysis techniques to better your ability to predict how your choices will turn out and make sure you’re making the right ones.

Victor Oladipo Net Worth

Many professional athletes take a few years to develop at the next level before they become a top performer.  While LeBron James and Bryce Harper are exceptions to this rule, it can be seen through every professional sport.

Victor Oladipo is a prime example of someone who has found his stride after a few years in the NBA.  The former number two overall pick in the 2013 NBA draft, Oladipo is now getting paid for the value he brings.  Victor Oladipo net worth sits at $12 million.

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Before the start of the 2017-2018 NBA season, Victor was traded from the Oklahoma City Thunder to the Indiana Pacers.  Last season after joining the Pacers, Oladipo led the team in scoring averaging over 23 points per game.

For next season, Oladipo will make $21 million in salary for his on the court contributions.  It will represent year two of four on an $85 million contract he recently signed.  Next season’s salary will push Victor Oladipo net worth even higher, close to the $20 million mark.

A 26 year old from the state of Maryland, Oladipo played his college ball at Indiana University.  Coming out of high school, he was a consensus three-star recruit.  He played a total of three seasons for the Hoosiers before deciding to turn pro.  During his final season with the team, he earned the Big Ten’s Defensive Player of the Year Award while averaging close to 14 points per game.

For his performance during the 2017-2018 NBA season, Oladipo continued to rack up the awards.  He won numerous awards for his performance last season.  He was the recipient of the following: NBA Most Improved Player, NBA All-Defensive First Team, NBA All-Star, and All-NBA Third Team.

After such a solid performance last season, the Pacers have high hopes for their rising star.  He is expected to lead the team both on offense and defense again this season.  With three remaining seasons on his current contract, the Pacers shouldn’t have to worry about their star leaving to another organization.

When Oladipo completes his current NBA contract in 2021, his career earnings will top $100 million.  At the conclusion of his contract Victor Oladipo net worth could easily be around the $35 to $40 million mark.

If he continues his trajectory of performing at a high level, Victor could cash in on a large payday after the 2020-2021 season.  Most likely he will be eligible for a max extension that could pay him in excess of $40 million per season.

FOR MORE BASKETBALL PLAYER’S NET WORTH CHECK OUT THE FOLLOWING:

KYLE KORVER’S NET WORTH

KENNETH FARIED’S NET WORTH

MARC GASOL NET WORTH

KAWHI LEONARD’S NET WORTH

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Vernon Davis Net Worth

When it comes to professional sports, each position is paid differently.  This is clearly seen especially with NFL contracts.  Quarterbacks tend to be the highest paid players on the team, followed by receivers and star players at a variety of positions.  Many recognize that tight ends aren’t paid as much as their receiving counterparts, but that hasn’t stopped Vernon Davis of the Washington Redskins.  Vernon Davis net worth sits at $25 million.

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NFL TE Vernon Davis

Davis is an NFL veteran.  The sixth overall pick in the 2006 NFL draft, the tight end from the University of Maryland has made his mark on the league.  Known for his physical strength and prowess, Vernon is now entering his 13th year in the league for 2018.

Upon being drafted in 2006, Vernon Davis’ first contract was valued at $23 million over five seasons.  Right as the 2010 NFL season began, the 49ers and Davis hammered out an extension for an additional five years that would pay the star tight end nearly $37 million.

In the final season of Davis’ contract extension, the San Francisco 49ers traded the tight end to the Denver Broncos.  After spending only a handful of games with the Broncos, Vernon Davis became a free agent.  He eventually would join the Washington Redskins.

2018 will be Vernon Davis’ 13th year in the NFL and his third season with the Redskins.  He is currently in the middle of a three year $15 million contract he signed before the start of the 2017 season.  While this smaller contract is less than half of one of his previous ones, it still is giving a large bump to Vernon Davis net worth.

Upon the conclusion of last season, Davis has racked up nearly $70 million in career on the field earnings in the NFL.  Couple this with some of the advertisement deals he has done, and it is easy to see how Vernon Davis net worth is as high as it is.

A two-time Pro Bowler, Davis has totaled over 7,000 receiving yards and 60 touchdowns during his career.  In fact, after the 2018 season, Davis will have the highest career earnings to date of any tight end.  His earnings will be more than that of Antonio Gates and Tony Gonzalez.

While Vernon Davis will be remembered by most for his career as a 49er, it is how he finishes in Washington that could define his legacy.  If Vernon is able to complete his contract with the Redskins and add more stats to his impressive career, he could easily go into the Hall of Fame.

OTHER NFL PLAYER’S NET WORTH

Matt Ryan’s Net Worth

Drew Brees Net Worth

Jason Witten’s Net Worth

Jarvis Landry’s Net Worth

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Todd Gurley Net Worth

The idea of being rewarded for your performance is nothing new.  Companies give end of the year bonuses to top-performing employees.  The same can be said in the world of sports.

Todd Gurley is the latest recipient of a reward for his performance.  After three successful seasons in the NFL, Gurley has finally received the large coveted contract.  Todd Gurley net worth sits at $15 million.

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NFL Running Back Todd Gurley

The number ten overall pick in the 2015 NFL draft, Gurley has made an impact in the backfield since his rookie season.  As a rookie, he rushed for over 1100 yards and recorded ten rushing touchdowns.  His performance during the 2015 season earned him the NFL Offensive Rookie of the Year award.

Despite his production taking a substantial dip during the 2016 campaign, he rebounded well last season.  In 2016 he averaged a measly 3.2 yards per rush and recorded only six touchdowns; however, in the 2017 season he rushed for a career high 1,305 yards rushing and a total of 19 touchdowns.

Gurley excelled in his college days at the University of Georgia.  He totaled 36 rushing touchdowns in his three years playing with the Bulldogs.  His freshman year performance earned him First-team All-SEC honors.  He missed a total of four games during his junior season due to violations he received over $3,000 for signed merchandise.

The reason Todd Gurley net worth has shot up to $15 million is due to his recent contract.  In July of 2018, Gurley signed an extension with the Rams worth $57.5 million over four seasons.  This would be the largest yearly average contract for any NFL running back to date.

Back in 2015 when Gurley got drafted in the first round, Todd Gurley net worth got off to a fast start.  He signed a four year contract valued at nearly $14 million.  Included in this contract was a signing bonus worth over $8 million.

Todd Gurley’s recent contract included a signing bonus worth $21 million.  Because the Rams are based in California, Gurley will be on the hook for a large tax bill.  Despite the heavy taxes, if Todd Gurley is able to play through the remainder of his contract, his career NFL earnings will peak at over $80 million.

While most NFL contracts aren’t played to fruition, Gurley’s $45 million guarenteed money will give him an added edge over most.  It is reasonable to expect that Todd Gurley net worth could easily double over the next five years.

OTHER NFL PLAYER’S NET WORTH

Matt Ryan’s Net Worth

Drew Brees Net Worth

Jason Witten’s Net Worth

Jarvis Landry’s Net Worth

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Garrett Temple Net Worth

Moving across the country is never easy, but when you have an $8 million salary attached to the move it makes things much easier.  Garrett Temple is the latest NBA player to be affected from an offseason trade.  Although he spent his last two seasons with the Sacramento Kings, he will now be a member of the Memphis Grizzlies.  Garrett Temple net worth sits at $4 million.

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NBA Player Garrett Temple

An eight year NBA veteran, at 32, Temple is considered to be old in NBA years.  The Memphis Grizzlies will be the seventh different NBA team he has played for during his career.

Temple spent the entirety of his last two seasons playing for the Kings.  Although he would occasionally have a starting role, more often than not he came off the bench.  This past season he set a career high in points per game for a season, averaging 8.4 in each contest.  At 6’6″ and 200 pounds, he plays the small forward position, the same as LeBron James.

Garrett Temple net worth didn’t start to climb until recently.  In each of the last two seasons, he made $8 million per year.  Additionally, during this upcoming season, he is also scheduled to make the same amount.

Before the 2016-2017 NBA season began, Temple saw his career slowly fading.  He was getting short one and two year contracts barely valued at $1 million per season.  However, during the summer of 2016 that all changed.  In July of 2016, Temple finally hit the payday he had been hoping for.  He signed a three year contract with Sacramento valued at $24 million.  It is this contract that has helped his net worth climb past the seven figure mark.

Despite earning more than $20 million in on the court earnings through his career, Temple’s net worth has been impacted negatively by high California taxes.  In each of the last two years, he was in California’s highest income tax bracket due to his large contract.

There is some good news about Garrett Temple moving to Memphis.  The state of Tennessee does not have state income tax, thus he can expect to keep a bit more of his paycheck.  Since California’s highest state income tax bracket is 13.3%, Temple will be able to pocket hundreds of thousands more by his move to The Volunteer State.

Even though Temple is entering the final season of his current contract, if he can produce this season for the Grizzlies he might be due for another big payday.  In essence, a solid performance means that Garrett Temple net worth can continue to climb.

FOR MORE BASKETBALL PLAYER’S NET WORTH CHECK OUT THE FOLLOWING:

KYLE KORVER’S NET WORTH

KENNETH FARIED’S NET WORTH

MARC GASOL NET WORTH

KAWHI LEONARD’S NET WORTH

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Buying Part of a Business: Is it Worth It?

When seeking to continue to build your financial portfolio, adding investments is one idea that many choose to pursue. One way that such investments are typically made is by buying part of a business. Buying into an existing business means that you become one of the main stakeholders, owning a portion of the business itself. While this is something that is done frequently, quite often are new business owners not aware of the many factors that are related to making this significant financial decision.

Benefits

Of course, buying part of a business may sound overwhelming, but there are many factors that make it a beneficial decision.

• Established company client base. One of the benefits of owning part of a business that is established is the fact the client base is already set. While a new business has to attract customers and build a group of returning clients, one that is already functioning will have this taken care of. This will allow the business owners to focus more on customer service and maintaining client retention and increasing the number of clients.

• Ease of expansion. If you happen to buy part of a business that is looking to expand, it will be much easier to do with a company that has already made a name for itself and gets good feedback from its clients. It’s also easier to get an unsecured small business loan for expansion when the company has a proven track record of sales.

• Focus on business improvements. You may like challenges and, thus, purchase part of a business that may need to make a few changes to improve. Luckily, the company has a plan of operation in place so that you can focus on how to improve it for the company’s overall success.

• Current owner knowledge. One of the best factors of buying part of a business is that the current owners will be very familiar with the company and can show you what has and hasn’t worked for business operations thus far. You, equipped with this knowledge, can then come up with innovative ideas to benefit the business.

Risks

As there are many pros to buying part of an existing business, there are just as many risks of shared ownership of a company. It is best to keep these factors in mind as you make your decision.

• Current owner practices. It would be an absolute nightmare to purchase part of a business where the owners mismanaged funds. Upon learning more about a business you may want to purchase part of, be sure to research all financial records.

• Bad reputation. A good use of customer feedback is to learn how the company fares amongst past clients. A company with a bad reputation will likely struggle with being successful.

• High turnover. In addition to clients being indicative of a company’s progress, the employees can serve the same purpose. If there have been numerous employees during the business’ lifespan, especially due to multiple resignations, this would be something to keep in mind as a problem area when taking the company on.

• Differences between owners. If the current owners are not open to change or new ideas, you could possibly run into difficulties with trying to take the company to the next level in terms of expansion, increasing profits, or employee and client satisfaction.

The choice to buy part of a company should only be made after carefully considering all factors, good and bad, that are involved. It can also be helpful to seek the help of a business adviser who can answer your questions and give guidance as you take this big step.