You might not be there yet, but there will come a time when people start asking you, “So, when do you plan to retire?” That well-meaning question can often trigger an intense onset of panic for those who haven’t strategically planned out retirement and what really is needed in order to enter into it. Unfortunately, […]
Read More… from Income Spread: What It Is, How To Calculate It, And Why It Matters
How you think about money is not an accident. Your feelings, approach, and response to money are a result of a personal belief system that has been cultivated since a young age. For better or worse, these beliefs are powerful and some of these beliefs are not true, exaggerated, or incomplete. Let’s consider some of […]
Far too many people aren’t set up for retirement. There are a number of reasons that contribute to this, but one of the leading obstacles to achieving financial freedom is, unsurprisingly, debt. If we look back to the period from 2000 to 2007, the economy really heated up. Then the great recession hit, and the […]
Read More… from Understanding The True Burden Of Debt To Your Financial Freedom
Think back to the last time you played Monopoly; what is the one thing the winner has? The most assets. They have a lot of the assets on the board from real estate with homes and hotels built on them to railroads and utility companies. To win at the game of Monopoly, assets are the […]
It’s likely you remember the anticipation of the very first paycheck you received from your first real job. However, when you opened the envelope containing your check, there was undoubtedly some disappointment. I went to Catholic school, and we had nuns teaching some of the classes. Every now and then one of the nuns would […]
Read More… from How The Rich Leverage Their Knowledge Of Taxes
Does two minus three equal five? No, of course not – it’s false math. Unfortunately, your broker may be trying to use this math on you. It’s not enough to just trust your broker—you need to be willing to do some math yourself. It seems more and more people are getting comfortable with doing their […]
If I asked you to name your biggest asset, what would you say? Nine out of ten people say it is their home. I also hear things like gold, their IRA, their cars, their RV, or their 1952 Mickey Mantle baseball card. This is also how the banks think, and they sell you on this […]
Read More… from Rethinking Net Worth To Limit Your Liabilities
It’s our natural inclination to trust the knowledge, opinions, and recommendations of those in authority. From doctors and officers to teachers, judges, civic leaders and other positions of power – we hope others offer their expertise with only the best of intentions. Unfortunately, that’s not always the case. Many financial institutions don’t have your best […]
Let’s say you have a family of four and you walk into a Chevrolet dealership and say, “I need transportation for my family.” They could sell you two souped-up Corvettes. They might say, “Hey, you have four people. Mom and Dad could each drive one car, and you can put one kid with each of […]
Read More… from How The Lack Of Fiduciary Financial Help Can Leave You Financially Imprisoned
How many days, months, or years could you survive without working? Do you have enough passive income so that you do not have to sell off your investments, your home, or your belongings? Can you maintain your living standard if you were unable or had to stop working? This test will help you determine where you are and whether there are steps you could take to improve your financial outlook.
Take the assessment