What Are The Best Ways to Invest Money?

“If you don’t know where you are going any road can take your there”

That quote is attributed to Lewis Carroll from the book Alice in Wonderland, and that same quote applies to investors. If you’re searching for the best way to invest money, you need a plan. As Admiral Painter says in the movie Hunt For Red October:

“Russians don’t take a dump, son, without a plan.”

Continue reading What Are The Best Ways to Invest Money?

How To Recover From A Financial Setback

“Experience is what you get when you don’t get what you want.”

That quote is attributed to Randy Pausch. I highly recommend his TED Talk that is referred to as The Last Lecture. Pausch, a college professor, gave the talk when he was dying of cancer.

I’ve always said that the number one personal trait that people need to have is resilience- and I found out why in the Spring of 2016. My hope for my three kids is that they are able to pick themselves up off the deck when they are floored by life. In Spring of 2016, my punch to the face had a financial impact. If you’ve faced (or are facing) a financial setback, I hope these thoughts help you.

Continue reading How To Recover From A Financial Setback

Can’t Keep Up? 4 Ways to Simplify Your Personal Finances

 

It’s just a few days until April 15- are your freaking out?

The individual tax deadline is the straw that broke the camel’s back for many consumers. As if personal finances wasn’t already difficult- now I’ve got to get my taxes in?! Frustrating.

So, I’d like to thank the folks at Earnest.com for provided a great graphic that provides the content for this blog post. It’s a Cheat Sheet that is a Decade-By-Decade Look at Financial Health. Here are some of the great points made in their graphic. I can’t get it posted here, but I’d recommend that you contact the firm to get their graphic- great stuff!

New Personal Finance EBook in 2017: Get sample chapters here

Continue reading Can’t Keep Up? 4 Ways to Simplify Your Personal Finances

Surprising Reasons Why Higher Interest Rates Impact Stock Portfolios

Wall Street Two Signs

I had to get a knot out of a drawstring bag the other day.

Funny- when you start to pull the knot apart, you may be surprised at how the strings are intertwined. This is an analogy for the relationship between higher interest rate and your stock portfolio. The connection may surprise you.

How To Manage Personal Finances: New 2017 E-Book. More info here.

Continue reading Surprising Reasons Why Higher Interest Rates Impact Stock Portfolios

From Diamonds To Dirt: How Do Wealthy Men Sink Into Debt?

“There’s a lady who’s sure
All that glitters is gold
And she’s buying a stairway to heaven.”

(Thanks, Led Zeppelin)

This may be hard to digest but it’s true: some wealthy people get into debt troubles- and there are plenty of reasons why. People may take on huge debts that can’t afford to pay off, and a massive debt load can lead to bankruptcy. Understanding how this can happen can help you manage your personal finances.

Personal finance book: 2017. Click here for sample chapters and additional content.

Continue reading From Diamonds To Dirt: How Do Wealthy Men Sink Into Debt?

The Shocking Truth About $9.99

Cash Register Close UP

Does $9.99 really make that much of a difference?

It dawned on me on the Wednesday before Thanskgiving that I had subscription fees that were posting over the holiday weekend. They were on my budget as expense items, but I still needed to reconcile my bank account to see if they had posted correctly. Not a big deal, but it was just one more thing that I had to do before I headed out of town.

So, besides the added time to monitor the expense, I had to ask myself: Does a $9.99 subscription fee really make a make a difference in my budget?

Click Here For Free Report: 10 Great Resources For Personal Finance

You may be asking yourself the same question. The answer for both of us is yes- let me make the case why $9.99 can have a huge impact on your personal budget.

Continue reading The Shocking Truth About $9.99

What The Rio Olympics Teaches Us About Personal Finance

Wall Street Two Signs

My favorite Rio Olympics-related headline so far:

Olympic kayaker possibly capsized by couch in Rio de Janeiro

Priceless.

Now, the story isn’t confirmed, but it illustrates all of the controversy related to Brazil’s preparation for the Olympic Games. This situation is a great analogy for personal finance, because it helps us think about the answer to this question:

Are you being realistic about how much your investing, and the growth rate of your portfolio?

(Preview video) Top 10 Personal Finance Mistakes (And the Tools To Avoid Them)

Continue reading What The Rio Olympics Teaches Us About Personal Finance

What a 4 Year Old Teaches Us About Earnings Per Share

Cash Register Close UP

So, I overheard a Dad say something interesting to his 4-year old son (at least he looked to be about 4). His son asked him a question and he said: “I just answered that question, so I’m not going to answer it again”.

That approach would have saved me a lot of time when my kids were small…..

(Preview video) Top 10 Personal Finance Mistakes (And the Tools To Avoid Them)

But it brings up an important point for investors, because you’re bombarded with data and it’s hard to know what questions to ask. When it comes to stock performance, one critically important measure of performance is earnings per share (EPS), and EPS has more than one definition. Make sure you’re clear about which EPS number you’re told- the numbers are very different.

Continue reading What a 4 Year Old Teaches Us About Earnings Per Share

What A Telsa Car Crash Teaches Us About Investor Disclosure

Classic Cars

So, how much information do you need to make an informed decision?

Unfortunately, Tesla’s Motors problems with autopilot cars provide a great discussion about required disclosure to investors. This CNBC video with a former SEC Chairmen discusses whether or not Telsa had a duty to disclose a car accident that occurred with an autopilot vehicle sooner to investors. Could the lack of timely disclosure impact an investor’s decision about Telsa as an investment?

(Preview video) Top 10 Personal Finance Mistakes (And the Tools To Avoid Them)

Continue reading What A Telsa Car Crash Teaches Us About Investor Disclosure