Pay Yourself First No Matter What As a business owner, you’re often working hard to cover all the expenses of the business. Whatever those expenses are, don’t forget to pay yourself first no matter what!
How a True Wealth Manager Views Your Life Hey, guys! Justin with Financially Simple here to help you understand how a wealth manager views your financial life. Most people think a wealth manager is just someone who invests money, but that’s not really the case if they are a setting up a comprehensive plan. Investing money is just one aspect of what we do. For example, think of your life as a box. Everything in the box is something you can control. We can either google to learn more, ask friends and family for advice or even hire professionals to help us build the custom life we want to have. Those areas are cash flow, risk management, investments, and distribution. What You Can Control Cash flow is how much money do we make and how do we make it. So few people know exactly where their money is spent. It happens far too often. This is why I stress budgets. They’re important for both the home and business. Risk Management is everything that has the word insurance on it and the legal documents we use to protect it. Many people don’t plan their insurance packages, rather they buy it on […]
Despite the turmoil out of Washington, the bull market is still climbing as of midday. Over the last few years, we’ve seen everything from Brexit, to rising interest rates and nothing seems to be slowing things down too much. Stocks continue to trade at a higher rate and perform in an overall positive manner, even reaching all-time highs. So the question most are asking is, when will the bear come out of hibernation? Is the party over? With the firing of FBI director, James Comey and the latest news of President Trump disclosing classified information to the Russians, we’ve seen a slight drop. However, even by the afternoon today, stocks began to regain, and nothing indicates things are about to spiral downward—at least not immediately. There are obvious concerns that stock prices “as quite high relative to standard measures.” However, is appears at the moment stocks will keep climbing at a slower rate at the very least. How should I prep my portfolio? Whether stocks continue up or drop here and there, the key is to stay the course and expect volatility.That’s how the market works. Focus on your long-term goals and not your short-term gains. If retirement is just around the corner, maybe it’s time to pull back […]
Laying a Good Wealth Building Foundation in your 20s and 30s Laying a Good Wealth Building Foundation in your 20s and 30s Hey guys! It’s Justin Goodbread from Financially Simple. Here are some tips for laying a good wealth building foundation early on. If you catch on to these you undoubtedly increase chances of success when it comes to your finances. 1. Work/Life Balance 2. Invest in Yourself 3.Plan Not Save 4. Set Short Term Goals 5. Spend Less than you Make 6. Build a Budget 7. Learn Money 8. Take Risks 9. NEVER Borrow Money for Non-Assets 10. Take advantage of “free” money