Author Archives: ernie

Concerns Consumers have about their Finances

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Concerns Consumers have about their FinancesJust read an article about the top five concerns consumers have about their finances and it is not surprising that most people are thinking about – Debt, Savings, Education, Retirement, and Health costs. This chart on the left shows where people expect their income may come from as well as the concerns that they have.

Concerns Consumers have about their Finances

Debt

is something that everyone worries about sometime in their lives. Usually when they overextend themselves and also as they are nearing retirement or are about to lose their jobs. This is where a contingency plan comes in. Plan for losing a job, plan for retirement and try to make sure that you never overextend yourself.

Savings

can tie in with having a contingency plan, but savings also means saving for retirement. If you are going to do it right it means you have several different savings accounts – contingency, vacation, something you want to purchase, major repairs to your home, and retirement. Sounds like a lot but it is pretty basic and if you fail on any of them you will pay the price at some point with some hardship that you did not count on.

Education

is important for the kids. Depending on how many kids you have, your plans for them in terms of education, etc you will want to set aside a savings plan early that is specifically for the kids to get the schooling they need.

Retirement planning

is so important. If you are lucky enough to have a plan at work your among a minority these days.  Set aside a minimum of 10% and never touch it. Invest wisely and do not use it until you are getting close to retirement. Then evaluate whether you have enough or not with the help of a financial planner.

Health costs

are a big unknown. One day you are healthy and the next day you have major medical bills. Not everyone can afford to have health insurance, so it is a bit of a gamble. People have been known to be wiped out overnight due to unforeseen health costs.

Concerns Consumers have about their Finances

Develop a Plan and decrease your Worries

Many financial advisers suggest various methods of dealing with these concerns, however, the main thing to do is to have a plan that addresses each of your concerns. No plan, no solution, you are going to be in trouble financially at some point. Put simply the rules are:

  • Pay yourself first – a simple but very effective lifelong approach.
  • Have a plan – and write/type it out, discuss it with people that you respect
  • Learn about tax-saving options
  • Make regular contributions to the tax-savings options.
  • Pay down your most expensive debts as much and as quickly as you can.

Pay yourself first – a simple but very effective lifelong approach. Figure out a budget and decide how much you can afford. Then pay yourself so that you can enjoy a little bit of life. Just ensure that it is reasonable in relation to the rest of your income.

Have a plan – and write/type it out, discuss it with people that you respect and review it on a regular basis. Some people suggest once per year while others once per quarter. Decide what works for you. If your finances are volatile, then you will want to review your plan more often.

Learn about tax-saving options that are available in your state or province. Decide how to maximize your savings and decrease the amount of tax you pay at the same time.

Make regular contributions to the tax-savings options – Set up a regular deposit to the plan. Your financial institution can help you with this so that it is done automatically and you have a forced savings plan to your tax-advantaged plan

Reduce your most expensive debts as much and as quickly as you can. This in turn will control and decrease the amount of interest you are paying and when the debt is paid off, you will get a major raise in terms of more cash to use on other things.

If you share these financial concerns or have others that we did not mention, why not leave a comment for readers. All well written helpful comments will be accepted even with links. All others will be deleted.

 

How Do I Know I have enough for Retirement

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enough for RetirementThis is the big question for many people who are thinking about retiring or are suddenly faced with forced retirement. How do I know I have enough for retirement? The sooner that you prepare for retirement the better off you will be, but how do you know when you have enough?

We all get accustomed to living on the salary or income that we make and this is probably a good starting point. This is the quality of life you are used to and the life style you have been accustomed to. So why not start there.  We compiled the following points from reviews we have done looking at various posts and ideas from many sources. If you cannot meet these requirements, then you will have to take steps to either adjust your income in some manner or you will need to downsize your expectations. We will discuss each one in a little more detail.

  • 15.7 times salary saved
  • Less 2 for social security
  • Less 2 for defined benefit plan
  • Or can you live on 5% of income from your savings
  • Some say2% or 4% of income from savings
  • Can you Still work
  • What will you do with your time

How do You Know You Have enough for Retirement

15.7 times salary saved

This is a standard that many financial planners are working with and it is a good measure to start with. The big assumption is that you want to maintain your current lifestyle. So if your current income is $50k per year, then you need $750 to $800 k in savings to ensure that you will have the income you need. Start at this level when calculating if you have enough for retirement.

Less 2 for social security

You can also make adjustments to this figure if you will receive social security. The common rule of thumb is to reduce the ratio from 15.7 to 13.7 if you will receive social security and decrease the overall savings  that you need to have.

Less 2 for defined benefit plan

The lucky few who will have a defined benefit retirement plan can reduce the ratio a further two points. This is a combination of benefits for medical as well as retirement income from a pension plan. Many people are losing their benefits due to layoffs and downsizing. If you are near retirement, you need to evaluate the probability you will actually see these benefits when you retire.

Or can you live on 5% of income from your savings to have enough for Retirement

Another way to look at the question of whether you have enough for retirement is to ask your self if you can live on 5% of the income from your savings. For example if you have $500,ooo saved, can you live on 5% or $25,ooo a year. If you can make more than this consider it a bonus!

Many people would have difficulty living on this amount, however if you can add  social security and a defined benefit plan to this, it may not be so bad.

Some say2% or 4% of income from savings

The question of whether you can live on 5% of income from your savings really depends on whether you can actually make 5% or not. Some say that the average income is actually much lower at somewhere between 2% to 4%.  What this really means is that you really need to have a lot more in savings if your savings is only generating 2% income every year.

Take a really hard look at what income you can generate from your savings. Be conservative in your assumptions. The stock market has been very volatile over the past few years so be careful with investments and the income assumptions you make. If reality is better than what you assumed, then it will be a bonus to you in your retirement years.

Can you Still work

Either way, whatever you assume, working full or part time during retirement years has a lot of benefits. Not only do you have the extra income which you may need after doing some of the calculations, you will have the opportunity to be challenged, to meet new people and contribute to your community.

These benefits will provide you with a more complete life and help you live longer as well.

What will you do with your time if your do not have enough for Retirement

As we mentioned in the last paragraphs, you will be busier and you will fill the time you have available if you work. The bottom line is to figure out what you will do with all of the free time you gain once you finish working full time and depending on your decision, the amount of money you will need as well.

Visiting family, looking after the grand children is far different than traveling the world on cruises. Many people who have traveled a lot have come to the realization that while traveling is nice, spending time with family and friends is much more rewarding.

For many the challenge is to find the right mix of family, travel and budget ! Do you have enough for retirement?

Some SEO Guidelines

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SEO GuidelinesThe only people who really know what the SEO guidelines are might be some of the Google employees and only the ones who are in charge of the overall strategy for their search engine. The rest of us can only guess and learn by experience. There are many lists out there about do’s and don’ts associated with optimizing your page for SEO or search engine optimization. some make sense and some don’t and many people are trying to take advantage of this situation to obtain more traffic.

SEO Guidelines – Quality Content

We happen to think that in addition to all of these so-called rules and guidelines which are ok and not wrong at all, you must have quality content. You must have not only quality content that is well-written and informative to the reader, but it must also be popular if you are really going to do well with advertising on your site. Writing poorly written stories about something that no one cares about is just not going to be of interest to very many people, even if you optimize the page perfectly, whatever that might mean.

Focus on High-Quality Content in Popular Areas of Search

So focus on good quality content,  interesting to the reader that appeals to a lot of people. Good quality content means that the post is well written, has no spelling mistakes, has good grammar, and has structure. A post should have an introduction, a discussion of the topic, and a closing summary of some kind or action statement that takes the reader to the next stage of your website.

Always optimize every page so that it also rises in rank for the search engines. We have compiled a shortlist and will add to it from time to time. These are rules/guidelines for making sure that your page is also optimized for SEO.

If you disagree or feel we missed something, feel free to leave us a comment and we will add to it to assist our readers.

Here we go:

  • Post Title
    • The title contains the keyword
    • The Title should begin with the keyword
    • The title should be at least 3 words long
    • The title should have at least 66 characters
  • URL
    • permalink contains your keyword
  • Metadata
    • Description meta-tag always contains the keyword
    • The Description meta tag should have at least 160 characters in it
    • The description meta tag should begin with the keyword
    • Your keyword meta tag must contain your keyword
  • Heading
    • The H1 tag should also contain your keyword
    • The H1 tag should begin with the keyword
    • The H2 tag should also contain your keyword
    • The H3 tag should also contain your keyword
  • Content(probably the most critical of all)
    • Must not be junk content
    • Must be informative and useful to the reader
    • Should contain at least 300 words, some say 500, and others at least 1000. We think you should vary the size of your posts, but never less than 300 words
    • Keyword density should be 2 to 5%, don’t spam your content
    • Keywords should be used in the first 50 to 100 words
    • Always use one image with your keyword in the ALT attribute
    • Bold your keyword at least once
    • Italicize your keyword at least once
    • Underline your keyword at least once
    • External link anchor text should also contain your keyword
    • Internal link anchor text should contain your keyword
    • Also, use your keyword in the last 50 words

While this is certainly not all-inclusive, it is a good start on how to optimize your posts for the best SEO ranking with the search engines and against your competition. Even if you do all of these things, it really comes back to content that people are interested in and causes them to want to spend some time on your site.

As we mentioned comments and thoughts are welcome.

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SEO Firms in Ottawa

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SEO Firms in OttawaThere are many SEO Firms in Ottawa that have recently hung out their shingle online and are advertising their capabilities to anyone that will listen. Another has joined the fold, Calgary SEO Specialists and you wonder why should I even consider these guys especially when they are not even from the area. Well, there are a number of reasons that you may consider, all of which are important when it comes to making business decisions on how you will spend your marketing and advertising dollars. SEO marketing is the reason.

Too many of these companies focus only on SEO i.e. get the search engines to index your page and list you in the top 10 search results. Calgary SEO Specialists also focuses on the marketing side of the job as well. Not only do you want someone to come to your site, but you also want them to call your company or buy your products. Conversion of the searcher into a customer is were it really counts. That’s what SEO Firms in Ottawa focus on.

Local SEO Firms in Ottawa

The first point that should be considered is that we have a local presence so although our name is Calgary SEO Specialists, we have a local member of our team who has been building Web sites for many years and in particular following SEO guidelines to attract traffic to their web sites. They have also been involved in marketing activities throughout their career and bring this expertise to the design of the site and the content that will be added to your site. This is a specialized business and it is important to hire someone who understands the business and not just someone who talks SEO.

Web Marketing

Secondly, what you are really looking for is web advertising or marketing. SEO is just the technical way that one implements a web site to achieve better results from an advertising perspective. If the company that you hire does not understand this nuance, chances are that you may have a great looking web site, but no one is going to visit it. SEO Firms in Ottawa do understand these issues.

Have you ever wondered why your web site never appears on the first page of search results? Then some guy comes along and builds a web page with your companies name in it. They do a search showing how he got you on the first page. Sure he got you on the first page. He used your companies name or a unique phrase that no one will ever search for!

SEO Catch Phrase

The objective is to use phrases that people commonly search for. The objective is to get you on the first or second page of those search results. There is a scientific method for making this happen. If you are on the first page you stand a much better chance of having customers select your web page! Next, you need a great catchphrase right at the front that is displayed with the search results. Now you are on the first page. You have the best catchphrase which attracts customers to your web site and not the competition! This is what makes them chose your site over the other 9 results that are displayed on the page.

This is what SEO is all about. Only firms with the experience can really put it all together to provide this type of service and results together. In fact, Calgary SEO Specialists are so confident of the service provided that they do not even ask for a contract or a down payment. They do suggest that you give it three months to see the results before making a decision. There are a variety of service levels and pricing to choose from. The services offered are fully outlined on their web site along with testimonials. There are even keyword studies that have been completed for various customers.

Check us out and give us your full consideration. Spending your money is always a decision that is taken carefully, regardless of the business that you are in. With web marketing using an SEO firm with experience is always a better way to go.

For more information about our services and pricing, take a moment, and visit their web site. Click here for more information.

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No Contract SEO Services in Palm Springs

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No Contract SEO Services in Palm SpringsIf you are looking for a company to develop a web site for you that is search engine optimized, (SEO), Calgary SEO Services is one company that you can consider. They provide no-contract SEO services in Palm Springs as well as in other cities across North America. They do not require a contract for small business customers. Also, they will deliver a quality website that is SEO optimized. The group will maintain it as well for you. They are supplying fresh well-written content for as long as you participate with their subscription service. For more information about no contract SEO  services in the Palm Springs area as well as pricing, take a moment and visit their web site. Click here for more information.

Read more about what SEO is all about. Read how it can be a good thing for your company and your web site to attract visitors and potential customers. Many customers really do not understand what SEO is all about and how it can help your business. It is the new marketing for the internet!

Search Engine Indexing

They do suggest that you subscribe for a minimum of three months. This provides time for the search engine Bots from Google, Yahoo, Bing, and other search engines to find your site. Also to index it and rank it in their search results. We submit your web pages to all of the search engines. But occasionally it takes them a bit of time to for the search engines to do their indexing.

Many companies require a contract to be signed before they do any work. We ask you to pay a month’s subscription upfront and then we get to work building your SEO site. All of this with no contract SEO services in the Palm Springs area. You are free to stop anytime. However, we are confident that once you see the results, you will want to continue the service.

No Contract SEO Services – SEO Web Marketing

Many companies are turning to web marketing as an alternative to traditional methods of attracting customers. They find that radio ads, TV spots and advertising in yellow pages and newspapers just do not work as well as they used to. Many people use their smartphones or desktop computers to search for the information they need about products and services. If you are not on the net with an SEO website, few people are going to find you.

Lot’s of companies have web sites, some quite fancy with videos, etc. But they never rank well because they have static content and they are not optimized for the search engines. It is so important to use the proper keywords and have fresh quick loading content to ensure that you are found on the internet. Once they are on your site, your customers may call you, or order online or send an email with more questions.

Fresh Up To Date Content

Fresh up to date content is highly ranked by the search engines.  This is why we suggest a post of 500 to 1000 words long every week for as long as you stay with us. This is the best approach to getting noticed by the search engines. We do not copy the content, it is all unique and written by writers in North America. We employ writers here and do not send the work overseas.

You might wonder why Calgary SEO services choose Palm Springs to launch their services outside of Calgary. Well, the answer is that the principles of the company spend a lot of their vacation time in Palm Springs. They want to help the local business continue to succeed in a very competitive market place. We think we can help you be more successful by attracting more leads to Palm Springs regardless of what industry you are in. That’s why we offer no-contract SEO services in Palm Springs.

For additional information about no contract SEO  services in the Palm Springs area as well as pricing, take a moment and visit their web site. Click here for more information.

 

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Affordable SEO Services in Palm Springs

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Affordable SEO ServicesAre you a  frustrated business owner? Perhaps you are not getting the results you think you should from traditional media. These could include radio spots, TV ads, newspaper advertisements and yes even the old stalwart , Yellow pages. You may have a really nice looking web site, yet you are not getting much traffic to the site and as a result there are little or no conversions to sales from your web site. You know that you need to spend some money on advertising, yet you are frustrated with spending money on something that is not delivering results.

Affordable SEO Services in Palm Springs

This is were Affordable SEO Services in Palm Springs comes in. There is a science to bringing web site traffic to a web site and if you are not following the rules and guidelines associated with web marketing, you simply are not going to get the traffic that you need. Of course you don’t want just any traffic, you want qualified traffic. Customers that are looking for your products or services and have a high probability of converting to paying customers.

Calgary SEO services is now offering SEO to clients in the Palm Springs area. In case you are wondering why Palm Springs and Why Calgary SEO services, well it is pretty simple. The principles have spent a great deal of vacation time in Palm Springs and really like to promote a place they enjoy so much. All of the work is done from Canada, however we do subcontract much of the content creation to US citizens so there is a win win for both countries.

How Does SEO Actually Work

Well much of the information is actually a trade secret, however we can tell you that there are few main attributes that you must adhere to. We have listed some of these below in no particular order:

  • Fresh content every two weeks or even more often
  • Unique well written content
  • Judicious use of keywords weaved naturally into the content
  • Fast content loading from your hosting provider
  • Domain name supports product or services you are selling
  • PPC – Pay per click advertising campaigns
  • Over 100 other parameters that must be taken into account

Most business owners do not have the time to manage all of this. They do not have the time to learn all of the intricacies of SEO management.  As a result their web sites are ranked low on search results. They show up well down the page list of results never to be looked at by anyone browsing the internet.

What About Mobile SEO

More and more consumers are using their mobile smartphones to search for things and to browse the internet. If your site is not configured to provide content that matches the browser capabilities and the screen sizes on these smart phones then you simply are going to lose access to this market.

All of our sites will be configured for mobile browsing.

Calgary SEO services can and does provide affordable SEO services in Palm Springs and other cities across North America. We do not ask for a contract. We do ask you to subscribe to our service with an expectation of signing up for at least 3 months, longer is preferred to really demonstrate the results of a well-engineered SEO site. Once you subscribe, we will conduct a telephone interview to understand more about your services and products and the specifics of the web marketing campaign that you want to get started. All of this is explained in much more detail on our partner web site. See link below.

For more information about our affordable SEO  services in the Palm Springs area as well as pricing, take a moment and visit their website. Click here for more information

 

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Affordable SEO Services in Ottawa

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Affordable SEO Services in OttawaIn a post 4 weeks ago we talked about how a Calgary company had teamed up to provide affordable SEO services in the Ottawa area.  Calgary SEO Specialists and Global Com Team Up discussed the services and pricing that they offered and why customers may want to consider this service. If you have a web site that is not receiving the traffic that you think you should be receiving, why not give us a call. We can discuss your needs and how we can help get on the first page of Google search results.

This post is focused on just how affordable SEO service in Ottawa can be compared to other SEO companies and certainly compared to the old-style advertising media. The first point we wanted to make is that people talk about SEO all of the time which means Search Engine Optimization. before your eyes glaze over and you head off of this page, think of SEO as really efficient web advertising! That is only if it is done right and managed on an ongoing basis. Anyone who tells you something different is just selling the concept and not delivering web marketing to you that will bring results.

Web Marketing and Web Advertising

Web marketing or web advertising is all about attracting consumers who are browsing on the internet. They are surfing from site to site looking for information about subjects that they are interested in. To do this they use search engines, they use twitter, they use facebook and they use referrals. Consumers are also increasingly using smart phones to do this searching so if your web site is not also optimized for mobile browsing you are also losing a huge market.

This web site for example automatically recognizes what hardware and browser you are using and delivers content to you that is optimized for your device, regardless of the type of smart phone or desk top device. So when we talk about affordable SEO services in Ottawa, these are just a few of the things that you need to take into account while deciding what company to use when hiring a web advertising firm.

Affordable SEO Services in Ottawa – No Down Payment

There are other points we wanted to emphasize regarding affordable SEO services in Ottawa. Do you have to sign up for a contract or not and  is a big down payment?  Many companies are afraid of doing a lot of work. They are worried their customer will cancel on them just as the web site is ready to launch.

As a result they demand an upfront fixed price. Then a monthly fee after that. In our case, we simply suggest that you commit to a three-month commitment of monthly fees. This gives us sufficient time to build your web site and start delivering traffic to you. This is qualified traffic that could be potential sales for you. There is no contract so if you do decide to opt out, you can with no problem. However, we believe that our service will more than meet your demands and expectations. There will be no question that you will want to continue with our service.

Affordability is a Big Issue for Many Companies

There is no question that budgets are tight. Companies both large and small can ill afford to throw money at something they are unsure of. Yet every day business people throw money at traditional advertising media. They have no idea whether it is being successful for them or not.

The world moving to smart phones to surf the web and everyone is avoiding traditional advertising on the TV. Don’t you think it is time to switch to something that delivers results that you can monitor and review. Confirm how many customers visit your web site and convert to paying customers? We think so. That is why we teamed up with Calgary SEO Specialists to deliver affordable SEO services in the Ottawa area.

For more information about our services and pricing, take a moment and visit their web site. Click here for more information.

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Tax Refunds – Did you Pay Too Much

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Tax RefundsIt is the time of year when we begin to consider filing our income taxes with the government. Some of us get it done as fast as possible to get it over with, while others will wait until the last day and run to the post office to send in their tax statements. With electronic systems now, many people use tax software programs such as Intuit to complete and file their taxes online. Submitting your tax report only takes minutes, and you are finished if you get a refund. Just wait for that check to arrive.

But what if you owe tax? You can still file online; however, you had better follow up with either a check in the mail with the envelope postdated on the deadline or send the money from your bank electronically. Is it better to get a refund or to owe money at tax time? The answer is somewhat complicated and really depends on the individual and how you manage your money.

Should You Owe Money to the Fed”s? or Tax Refunds

The writer believes it is better to owe money. After all, it is your money to start with, and why should the government use it when you can? If you are the type of person who has no problem coming up with the money when it comes time to file, then this approach is probably the one to take.

However, if you have a problem saving or you do not like surprises, then it is probably best that you allow a larger source deduction to take place and receive a refund each year. Some people even consider this approach of paying too much as a means of saving. They like to get a refund in April of every year, which they use to pay bills or go on a trip.

Besides, for some people, it is another way of saving money. Who doesn’t want to get a refund and some money in April or May from the government? It can be a nice little present that you can use for special activities or even saving for retirement.  Here is a summary of what the options are and the benefits of each scenario:

Receive a tax Refund.

  • The government has access to your money for up to a year
  • Nice surprise
  • Pay off bills when you get it
  • Another way of saving money

Taxes Owing at Tax Time

  • Did you save enough to pay your taxes, or will it be a hardship
  • You had access to the money
  • If you have loans, then you may pay less interest
  • The government may assess a penalty if your late filing
  • Government may tell you to pay more during the year

These are just a few issues to consider when considering a Tax Refund and whether you paid too much. The main thing that all of us need to focus on is completing our tax forms and getting them filed on time. Oh yes, if we owe money, we should pay it on time as well. At the time of writing, it is only the end of February, and we have almost two months to get this done, so don’t procrastinate. Complete your tax forms and file on time.

Also, if you have to pay a lot at tax time, the government may send you a notice reminding you to pay more during the year and reduce what you owe at the end of the year. While this is not the end of the world, it is a reminder that you must pay your taxes in regular monthly or biweekly installments.

If you have strong opinions on this subject, submit a comment. Well-written comments help our readers, especially if they present a different point of view. We will even approve comments with links for well-written comments. Our filter systems will likely catch all other comments.

For more tax saving ideas, click here.

Calgary SEO Specialists and Global Com Team Up

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Calgary SEO SpecialistsGlobal Com, owner of this website, and several others has recently teamed up with Calgary SEO Specialists to offer SEO services in the Ottawa, Ontario area. Both companies have been building web sites for customers for the past 8 years. They have decided to merge their expertise to offer small and medium businesses an SEO service. It is designed to bring additional business to them through optimized web advertising. This is all about spending your online advertising dollars efficiently and bringing your business qualified customers. For more information and a quote for our services, visit Calgary SEO Specialists.

Why Team Up with Calgary SEO Specialists

Many companies are beginning to realize that advertising through traditional mediums such as the TV, and Newspapers is no longer effective. More and more people purchase smartphones and browsing the internet on their phones. The value of traditional advertising to attract customers has declined. Today many people search online for products and services that they need. When they find it they click on a link, an email, or a telephone number. They expect to immediately be put in touch with the company that provides these products and services. If you are not taking advantage of web advertising, then you will not see these clicks. You could be missing these customer opportunities.

It is not enough to just have a website. Regardless of which search engine you use, if you are not on the first or second page of the results you are not going to be seen. Developing an SEO optimize web site that ranks high with all search engines is extremely important. It is a competitive world addition of new content and optimization is required to maintain this level of search results.

The combined expertise of Calgary SEO Specialists and Global Com provide not only optimized web sites with content management services. But they also provide continuously updated content that stays fresh and current. All search engines prefer this type of site. They rank even new sites higher as a result when they have continuous new content on their web pages.

Services Offered

If you are a small business owner and wish to find out more about this service, prices, etc, click on this link which will take you to the launch page of the combined service offering for the Ottawa area. All services provided are described along with links to our pricing and service packages for small, medium, and large business needs.

Contact us for a free consultation or sign up for service and one of our associates will be in touch with you within 24 hours or the next business day. We will need some basic information about your business and the products or services you are trying to promote. We can also provide you with a free keyword report and analysis. It is that easy and rest assured that we will do all of the work needed to drive customer qualified traffic to your business.

We recommend a minimum of three months’ commitment. This provides time to get the site up and running and customer traffic coming your way. Google and the other search engines will index your site and rank it according to their formula. When they do you will be at the top of the ranking and on the first page of search results. With an excellent call to action on your pages, you will begin receiving calls about the services that you offer.

For more information on these items and much more, visit our main website at Calgary SEO Specialists. Give us a call today about how we can help increase your sales in this new advertising world.

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Retirement – Live Well on Less

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Retirement - Live Well on LessWhen do you have enough money to retire? What kind of lifestyle will you be happy with?  Will you have to learn to live well on less money? These are questions that millions of baby boomers are asking all around the world and the answers are as varied as there are people on the planet. It is an intensely personal question and most people are stressed out to some degree about the answers.

Depending on your age you may have time to prepare. If you are still in you 40’s or younger, then you have time to prepare and save for retirement. We have a lot of posts on this site that talk about how to go about saving for and planning for retirement. But, what if you are 55 or 60 and suddenly are forced to retire due to health or downsizing at your company? You may not have saved enough money and must make a lot of decisions about what you will do going forward and the lifestyle you will lead. You can still have a wonderful fulfilling retirement with a lot less money than what you planned, as long as you adjust your expectations.

Retirement – Live Well on Less – Some Ideas

We have compiled a few ideas about this stage based on a combination or personal experience as well as from reading a lot of information on the web and talking with friends and colleagues.  Let us know if this rings true for you and or if you have comments or suggestions.

You will have to cope with your situation, what ever it is. Here are six things to think about as you adjust to retirement and learn to live well on less.

  • Fine Tune your Budget
  • Turn Time into Money
  • Live Smaller
  • Move to a lower Cost Area
  • Work Part Time
  • Become Debt Free

Retirement – Live Well on Less – More detail

Fine Tune your Budget

Regardless of how much money you have or receive as pension income, you must balance your spending with this income. This is probably a first step were you take stock of how much money you will take in. You must match your expenses to this income.

You might have to take fewer vacations or different vacations than you planned. Perhaps instead of going on a cruise, a trip by car might be in order. You may have to down size or give up some of the things you took for granted. This is the time to really take stock of what you can afford.

Turn Time into Money

When we are working, we do not have the time to do our own repairs around the home, we do not have time to look for sales and find the best deals. We end up spending a great deal more money as a result. Friends of ours are like this and think nothing of spending money like it will never end.

Once we are retired and living on a fixed income , we have time to do all of these things. A friend once was amazed that I can go on a trip for less than half of what he and his wife paid. It really was quite simple. I looked for a deal and I also was flexible when I  traveled. As a result I saved more than 50% of the cost of the trip compared to my friend.

Look for sales on tools, clothes, food items, travel and whatever you are buying. You can save thousands of dollars by negotiating everything from hotels to furniture.  Look for hotels that include free parking, WI-fi, breakfast and more when you travel.

Apply this simple concept to almost everything you do and you will be amazed at how much money you can save.

Live Smaller

Many people live in a larger home, especially when they are raising a family. Once the family is gone, they really do not need all of that space and cost over head. It may be time to find another home that has a lower cost overhead.

A smaller home will cost less to heat, to cool and to decorate. Taxes should even be less as well. Consider all of these things when you look for something that will reduce your monthly costs.

There is one issue that you must take into account. It does cost dollars to move. These include real estate commissions, legal fees, moving costs and decorating costs. If your savings will not quickly make up for these extra costs you may want to just stay were you are! Compare and make an informed decision before you leap.

Move to a lower Cost Area

Some areas of a city, state or province are known to be expensive, while others are known to be less expensive to live in. Taxes may be less, and the general cost of homes and utilities all may be less. Moving to these areas can also save you money.

We even know one couple who have purchased a home in Mexico because the cost of living is so much cheaper. If you do plan to consider something as radical as moving out of the country there are many things to consider such as immigration issues and health coverage.

Work Part Time

Many retirees are finding that they can make a little play money by going back to work full-time or part-time. This is an excellent way to enjoy your retirement, renew your social life at work, meet new friends and make a little extra money.

some people do  not care about the money. They just want somewhere to go every day and interact with people. Others have to work to make up for the income they have lost. Either way working can be good for you in many ways.

Volunteering is another approach to consider. Money is not a factor, since it is volunteer work you are doing. You are helping the community, you are meeting people and you are getting out several times a week. Many people are afraid of volunteering because it can quickly become a job without pay. The organization begins to depend on you and you feel guilty if you do not go in. Be firm and strike the right balance that works for you and your family.

Become Debt Free

Becoming debt free takes a lot of pressure off of you when you retire. This should be a primary objective for everyone. Just think that if you did not have that mortgage payment or that car loan, just how nice if would be to have that extra money to use for your personal needs.

Transition to one car, move to a smaller home,  work part time , do whatever it takes to become debt free and enjoy the freedom of being debt free.