I spend substantial time with insurance companies and so I have mastered the fine art of Risk Mitigation. Risk can be defined in many ways, but within the context of the financial community; Risk is defined at the potential for loss of dollars, and the degree of risk is to be defined as to what … Continue reading Let’s Talk About Risk
One phrase I hear repeatedly is: Your house is your biggest investment. This is unequivocally false! Absolutely nothing could be further from the truth. If anything, it is your largest liability. Remember from previous posts; investments pay you. An investment generates you sufficient cash flow with a return on your investment for putting capital at … Continue reading Your House is Your Largest Liability
Well; you won't have to imagine; I will show you. Senator William Roth of Delaware is one of your best friends and you probably have no idea who he is. Senator Roth included a piece of legislation in the 1997 Tax Relief Act that fundamentally altered methods of planning for retirement. In my last post … Continue reading Imagine the Power of Roth!
That's not a rhetorical question. I am seriously asking you to take a deep dive into your 401(k). There are numerous articles written on the 401(k)s, but they are all misleading in one continuous manner; they are written in a way that assumes this is some sort of centrally managed government program. Nothing could be … Continue reading What’s in a 401(k)?
Money is at the core of all financial discussions. In summary, money is a tool to be used as medium of exchange for the purchase or sale of goods and services. One issue in today's world is that the United States Dollar is backed by the full faith and credit of the United States. When … Continue reading Let’s Talk About Money
The inspiration for this post comes from questions that show confusion over investing versus speculating. Investing, in it's purest form; is where you put up capital (Money), and you expect a reasonable return on the investment. The return is what is paid to you as a form of profit for your business, or if you … Continue reading What is Investing?
Christmas is over and you will be returning to work soon; or already back at work. Have you checked you bank balances yet? Or worse, have you peeped at your credit card balances? If you are like 43% of Americans; you will likely be carrying that balance into the new year. So what do you … Continue reading Ready for Reality?
What is the rule of 72 and why is it relevant to you? The rule of 72 is one of the simplest financial formulas in existence. It seeks to answer the following question: "If I have $1; how long will it take to be come $2?" Seems like a simple enough question right? But the … Continue reading How to Double your Money