Howard McOmber - How Money Works Educator

Howard McOmber - How Money Works Educator HowMoneyWorks is on a mission to eradicate financial illiteracy—the #1 economic crisis in the world.

As a HowMoneyWorks Educator, my goal is to guide you to the summit of financial independence and empower you to take control of your financial future.

The most powerful strategy for building wealth takes less than a minute.The next time you deposit money into your wealth...
10/01/2022

The most powerful strategy for building wealth takes less than a minute.

The next time you deposit money into your wealth-building account, see if there's a way to make it a recurring deposit. That means you'll automatically add money to the account at a set time each month.

It's like making dozens of smart money moves in just a few seconds!

It simple. It's easy. And you can do it right now. It may make all the difference in your journey to build wealth.

What's bigger each month—your savings? Or your credit card bill?The simple fact is that money compounds against people f...
09/30/2022

What's bigger each month—your savings? Or your credit card bill?

The simple fact is that money compounds against people faster than it compounds in favor of them. It's hard to compete with interest on your credit cards that often hovers around 15%!

But if you're going to build wealth, you must leverage the power of compound interest—to YOUR benefit and not to the bank's.

That means locking away your credit cards and paying them down entirely, as fast as possible.

Then, meet with a licensed and qualified financial professional to see how you can put your money to work for you instead of for someone else.

Need to earn more money? You could just quit.It's an increasingly popular strategy. Workers have been leaving their jobs...
09/29/2022

Need to earn more money? You could just quit.

It's an increasingly popular strategy. Workers have been leaving their jobs in droves. The movement has grown so large that it has a name—the Great Resignation.

Research from Cengage reveals what's driving workers to quit...

91% want to make more money
89% feel burned out and unsupported
83% feel stagnant in their position

But workers seeking better opportunities are often disappointed. It turns out that many employers care little about fairly compensating their workers, or supporting them, or investing in their growth.

And so many people are simply sitting on the sidelines waiting for an opportunity where they can earn what they deserve, receive the support they need, and get the mentorship to reach the next level.

They need entrepreneurship. They need to make the move. And they need someone to show them how to do it.



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"From the Great Resignation to the Great Reskilling," Cengage, January 2022

It's officially—milllennials are the generation best positioned to retire with $1 million.That's right. They've gone fro...
09/28/2022

It's officially—milllennials are the generation best positioned to retire with $1 million.

That's right. They've gone from chai latte loving children to adults bent on building wealth. Take that, haters!

Recent research revealed that millennials have hit their benchmarks for retiring as millionaires. They have, on average, $63,000 saved, which, assuming they're in the early 30s, is right on the money.

Gen-Xers and Baby Boomers? They're lagging behind. With $98,900 and $138,900 saved for retirement, respectively, they're running out of time to let the power of compound interest work its magic.

The takeaway? Maybe it's time for older generations to get off the soapboxes, and hear what younger people have to say. They might just learn something.

Entrepreneurship, like everything worth doing, is hard.In fact, it’s the hardest—but also the most worth it. There are c...
09/28/2022

Entrepreneurship, like everything worth doing, is hard.

In fact, it’s the hardest—but also the most worth it.

There are countless entrepreneurs that have no more talent, intelligence, or training that you or me. What they DO have is grit, determination, vision, and self-belief.

They welcome the hardships, because they know it will prepare them—and qualify them—for the unlimited possibilities only offered by business ownership.

And with that comes rewards. They control their own time. They make their own decisions—instead of their boss. And above all, they get to maximize their own potential.

For the prize of their freedom and their dreams, they’re willing to run the gauntlet. Are you?

Think of it like this—millennials only have to double their wealth four times to retire as millionaires.Do the math...$6...
09/25/2022

Think of it like this—millennials only have to double their wealth four times to retire as millionaires.

Do the math...

$63,300 x 2 = $126,600

$126,600 x 2 = $253,200

$253,200 x 2 = $506,400

$506,400 x 2 = $1,012,800

But it gets better—millennials can estimate the interest rate they need to get 4 doubles.

Let's work with older millennials, who have about 25 years left to build wealth.

25 years ÷ 4 = 6.25 years

That's how often they need their money to double. Plug that into the Rule of 72, and you get...

72 ÷ 6.25 years = 11.5%

That's a powerful, practical example of how financial literacy can change your life. With that knowledge, you have a ballpark idea of what you need to do to achieve the retirement you want.

Peace of mind is priceless, and financial literacy is the key to unlocking it. Why? Because with the right tools and kno...
09/24/2022

Peace of mind is priceless, and financial literacy is the key to unlocking it.

Why? Because with the right tools and knowledge, you can take control of your finances. You can make informed decisions about your money. And when you have control, you feel more confident and at ease.

So take a deep breath, and get started on your journey to financial peace of mind.

Why do families with life insurance feel more secure?Maybe it's because a life insurance policy can give your family a m...
09/23/2022

Why do families with life insurance feel more secure?

Maybe it's because a life insurance policy can give your family a much-needed financial cushion in the event of your death. It helps protect from financial strain in a time of grief.

Maybe it's because families with life insurance know how money works. Life insurance is just one of the steps they've taken to secure their financial futures for their families.

Maybe it's both.

Either way, one thing is for sure—families with life insurance feel more financially secure. And that's peace of mind everyone deserves.

Not sure if you need life insurance? Here's how to decide...In less than five seconds, you can find out if you need life...
09/22/2022

Not sure if you need life insurance? Here's how to decide...

In less than five seconds, you can find out if you need life insurance by asking yourself one question: Does anyone rely on your income for their quality of life?

If the answer is yes, then you need life insurance. That's because life insurance can replace your income for the people love if something happens to you.

So don't wait—find out if you need life insurance today.

Life insurance comes with two benefits.First, the death benefit. This replaces your income for your family in the event ...
09/21/2022

Life insurance comes with two benefits.

First, the death benefit. This replaces your income for your family in the event of your death.

Second, the peace of mind benefit. This comes from the knowledge that your family is protected financially if something happens to you.

With these benefits, it's no wonder that 68% of life insurance owners feel secure. Money may not be able to buy happiness, but it can certainly help provide peace of mind.

So if you're looking for a way to protect your loved ones, consider life insurance. It may be one of the best decisions you make for your family.

Now you—and Dana—know! As a rule of thumb, your life insurance death benefit should be able to replace 10X your family i...
09/20/2022

Now you—and Dana—know! As a rule of thumb, your life insurance death benefit should be able to replace 10X your family income.

What's another life insurance question you need answered?

It's a fact—53% of people without life insurance feel barely or not secure financially at all. Why? Two potential causes...
09/18/2022

It's a fact—53% of people without life insurance feel barely or not secure financially at all. Why? Two potential causes:

First, not having life insurance correlates with not knowing how money works. When you finally realize how money works, financial protection is one of the first things you'll want to get!

Second, there's an underlying sense of unease that comes with financial vulnerability, regardless of its source.

So, if you're not already insured, get on it! Your family—and your peace of mind—will thank you.

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