Congratulations, you have found Financially Simple’s most popular financial articles. Learn what others like you are learning in order to make their lives… Financially Simple.

October 24, 2019

Investment Basics Part II – Risk Tolerance & Investment Horizon

In my last article, I outlined the basic asset types that are involved in investing. Just as important as knowing the types of assets that are available for you to invest in, is knowing just how much risk you’re willing, able to take and, ultimately, should take. Of course, you want to keep your portfolio balanced, but there are different investment strategies that can come into play when you know what risks to take for your individual needs. So join me as I continue with part two of investment basics where I will explain risk tolerance and give you the opportunity to take a free risk tolerance assessment!
October 22, 2019
basic asset types

Investment Basics Part I – Asset Types

Few things get me fired up like the talking heads of Wall Street talking at me. I have the credentials. I know the world of investments and finance. And yet, these Wall Street “experts” always seem to invent new words and overcomplicate things – and on purpose (my humble opinion). If the process of investing seems way too complex for the average Joe to do it on his own, then brokers get to inflate their fees. It’s not all doom and gloom obviously, but investing just isn’t that difficult. That’s why I want to spend some time taking you through the ins and outs of investing over the next few articles calling it “Investing 101.” This is part one, asset types. Join me as I uncover the mystery of investing for business owners, making it the way it ought to be—financially simple.
October 15, 2019
small business retirement plans comparison - a guide to ones available to the business owners

Retirement Plans Comparison – A Comprehensive Assessment

As we begin our investing portion of the Personal Finance for the Business Owner series, I thought that it would be wise to, first, do a small business retirement plans comparison. Being prepared for our retirement is so vitally important, but there’s another reason for digging into this subject matter before we go much deeper into investing. When you are ready to begin investing, you need to know where to purchase those investments. Retirement accounts offer so many benefits and options in helping us to maximize our dollar and minimize our taxation, especially for business owners. With that said, get comfy because this is a lengthy post, but it is an extremely valuable one comparing retirement plans.
July 2, 2019
What's the Cheapest Way to Buy a New Car

What’s the Cheapest Way to Buy a New Car?

As a financial planner, I don’t believe in going into debt so I always buy used cars. In fact, I’ve never had a car payment. Last year I needed to purchase a “new-to-me” vehicle. When I started doing my research, though, I found that I would pay (at this time in the economic cycle) essentially the same price (over the life of the vehicle) for a used car as I would a new car. Ultimately, I decided to buy a NEW truck and I am sharing with you the math from my research in my quest to find the cheapest way to buy a new car.
June 27, 2019
Leasing vs Buying a Car

Leasing vs Buying a Car – A Comprehensive List of the Pros & Cons

If you drive your personal vehicle for business purposes, you can claim tax deductions. I addressed that in my last article when I talked about whether you should claim the standard mileage rate or actual expenses on your taxes. Yet, leasing vs buying a car may make a difference to you as a business owner, too. Does it make more sense for you to “rent” a car or own it? Let’s weigh the pros and cons.
June 25, 2019
Standard Mileage vs. Actual Expenses

Standard Mileage vs. Actual Expenses – The Pros and Cons

If you drive a personal vehicle for business use, you can choose to take the standard mileage rate deduction or you can deduct your actual vehicle expenses. Yet, which one is better? As with most things related to taxes, it’s going to depend. Therefore, let’s do an analysis. Which should a business owner choose? Standard mileage vs. actual expenses.