Save First, Spend Second
Key Takeaways If you want to build wealth successfully, you need to save first and spend second. The rule of thumb when it comes to saving is to save about 15%. If you spend first, you can get used to the niceties in life, and then it can be very hard to have to go […]
Half the Clothes, Twice the Money
Key Takeaways When we get ready for a vacation, we typically pack too many clothes and don’t budget enough money. When we make big purchases, we tend to forget all the associated costs that come with buying the item. If you plan in some extra money beyond the main cost of what you are purchasing, […]
The First $10,000
Key Takeaways Putting $10,000 away a year for even just 10 years can make a huge difference. If you put the money away in a 401(k)-type account where there are tax deductible and tax deferrable benefits, you will end up with much more money years down the road than you would just saving it on […]
In Search of Wise Counsel
Key Takeaways We tend to ask our close family or friends for financial advice when we should really turn to a professional to help us. When looking for a financial advisor, there are a few things you should keep in mind, but LRC – Leadership, Relationship, and Creativity, is key. Big-name financial firms are not […]
Investing in Life
Key Takeaways Investing, like growing up, can be very complex. Factors such as what markets you invest in, your personal goals and risk tolerance, how you diversify and allocate your assets, and who you use to help you invest your money, all make up this complicated system. It’s up to you to determine how you […]
The Dynamic Duo: Risk and Reward
Key Takeaways Risk and reward both clash and work together, and are culturally significant here in the US as American investors tend to embrace more risk than elsewhere. Risk tolerance is how much you are/are not willing to take a risk on an investment, and there are several types or risk markets you can invest […]
The Diversified Investment Palate
Key Takeaways Successful investment management is based on diversification and asset allocation. Diversification means investing in several different areas, and asset allocation is how much in an area you invest in based on several factors specific to you. Time frame is important in investing as you need to be consistent.