April 28, 2017
5 Financial Do-Overs I Wish I Had

5 Financial Do-Overs I Wish I Had

Whether they’re personal or financial, life always comes with regrets. How many times in life have you uttered the words, “If I could do that over…” Probably many! Just like you I’ve wished for my fair share of do-overs. So today I’m going to share the 5 financial do-overs I wish I had, in hopes that you won’t make those same mistakes. 5 Financial Do-Overs I Wish I Had I wish I maxed out my ROTH contributions the moment I started making money. — If I’d put back $300-$500 a month back when I first began working at 16 years old, the compound interest alone would be unbelievable. However, like most young folks, I wasn’t looking toward the future. Obviously, I hadn’t grasped the concept of compound interest. Albert Einstein is attributed as saying, “Compound interest is the eighth wonder of the world. He who understands it earns it. He who doesn’t pays it.” Whether he said it or not, the truth behind that quote is undeniable. The power of compound interest is truly mind-blowing. I wish I had hatred of debt, the way I do today. — I hate debt! Hate it! I hate it! Hate it! I hate it! To see the crippling effect […]
November 18, 2016

Living In A Perfect Financial Situation

Like most individuals, I wouldn’t say I’m living in a perfect financial situation. I have some debt that I need to pay off, and several goals I want to achieve. As with anything in life, pressing ahead can seem easier said than done. As a nationally recognized CERTIFIED FINANCIAL PLANNER™, it’s imperative that I have a complete grasp of the world of finance. So one would think I it’s easy for me to live in the perfect financial situation.  The secret is, I DON’T! I’m pretty much your average Joe.  I have a beautiful family (a wife and three kids).  I run my own small business. I pay a mortgage. I own some domestic animals (and a few goats). I love traveling and exploring the world with my family. I’ve made some good decisions in life. I’ve made some bad decisions in life. I’m just like you for the most part. However, here’s where I may differ. I hate debt and avoid it like the pestilence. I only pay cash for cars and drive them till the wheels fall off. My student loans are paid off. I started saving for retirement many years ago, and I started my business without debt. Therefore, […]
September 28, 2016
Should I pay off my mortgage

Should I pay off my mortgage or invest?

So this article is about a very interesting question and which is Should I pay off my mortgage or invest? Let’s find out. Recently, I was having coffee at Starbucks with a client when I asked him this question, “Should I pay off my mortgage or invest?”  I told him that I personally was struggling with planning in this matter (YES!! Even a planner questions their decisions occasionally!!).  After generically discussing the subject, I decided to research the topic in greater detail to see if I could come up with a definitive answer to the age-old question: Should excess funds within my budget pay off my mortgage or go toward investments? Should I pay off my mortgage or invest? You’ll find an array of answers on this matter from a variety of financial gurus; with some of the top names in the industry disagreeing! Professionals and laypeople alike all weigh in with their opinions. Forbes,  The Fool, and even Clark Howard have all chimed in recently. So is there really a conclusive answer? Here’s what I came up with after much research. I boiled the answer to this conundrum down to two main points.  One is a black and white answer, while […]
September 8, 2016
fastest way to get out of debt

Fastest Way to get out of Debt

Fastest Way to get out of Debt,  “A man in debt is so far a slave.” Ralph Waldo Emerson penned this statement in his 1860’s book The Conduct of Life.   Over the last 5,000 years, debt has been a vain in human existence.  In today’s fast paced and electronic world, it often seems that we cannot move forward without utilization of our age old nemesis; debt. According to nerdwallet, the average U.S. household with debt carries $15,310 in credit card debt and $132,086 in total debt.   These numbers may appear harmless and manageable to some. However, the University of Nottingham’s John Gathergood conducted a study and published his findings in a detailed thesis.   In the conclusion to his thesis John stated, “Furthermore, results provide strong evidence that respondents’ reactions to problem debt have a non-negligible social dimension in which the prevailing local level of indebtedness impacts on individual psychological stress. These results suggest a role for policy towards helping individuals who suffer both problem debt and depression.”  John placed in writing what many of us feel in our personal lives. And that is DEBT SUCKS!   So this leads us to the question, how do we eliminate debt quickly!  When […]