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
Never in history has such an enormous amount of wealth been bestowed on a country. Never in history have so many people managed to end up in debt despite such wealth. At first blush, a stranger to the US sees big houses and fancy cars, but looking closer, they see anxiety, fear, and stress. Americans […]
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
What does financial freedom mean to you? I’m guessing you might define it as finding yourself in a financial position where you don’t need to work unless you want to. Ultimately, freedom means you are in control of your finances and your life choices. Too many individuals are frustrated working their tails off. Still more feel boxed […]
Do you remember having conversations in childhood or adolescence with your parents or another guardian when it came to expectations around money? Many power struggles have occurred between children who do not understand the true difference between needs, wants, and wishes and the adults who have learned along the way. Whether it was the trendy […]
Read More… from Understanding The Critical Differences Between Needs, Wants And Wishes
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