How Can I Make A Living By Starting An Online Business?

After years of struggle trying to build a business presence online, I’ve started to have a little success based on one key point:

Succeeding online isn’t a whole lot different than building a “brick and mortar” product or service business.

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

Now, I’ll grant you, the delivery method online is very different from delivering a product or service from a storefront or through word-of-mouth referrals.

Continue reading How Can I Make A Living By Starting An Online Business?

What Ron Burgundy Teaches Us About Mutual Funds (Hint: It’s not an old wooden ship)

Wall Street Two Signs

Ron Burgundy believed that diversity was old wooden ship, but diversity is also a great reason to invest in mutual funds. (kinda wish that they would have asked Brick Tamland for his opinion).

I answered this question on Quora.

To answer this question, I’ve explained mutual funds and also provided a tool you can use to find the best performing mutual funds. Prateek Mehta makes a great point in his Quora response, which is that there no specific mutual fund for every investor. Also, keep in mind that past performance does not guarantee future performance.

Continue reading What Ron Burgundy Teaches Us About Mutual Funds (Hint: It’s not an old wooden ship)

What Is The Best Way To Make Money?

There are many money-making paths you can go down, but you’ll be miserable if you pick the wrong one. If the path you choose feels like drudgery, you probably won’t succeed.

I loved how Mladen Adamovic started this answer to this question, because it illustrates how we all have our own biases about business ideas. Remember the advice Dustin Hoffman got in The Graduate?

Continue reading What Is The Best Way To Make Money?

What Are The Best Investment Blogs and Websites?

Skimming the online version of The Wall Street Journal each day will have a massive impact on your ability to understand investing.

“Well, that’s a pretty bold statement.”

Continue reading What Are The Best Investment Blogs and Websites?

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?