EDUCATION + MOTIVATION + ACTION
June 18, 2019
As a commission-based person you are used to your bank account fluctuating like CRAZY. There are times you just got paid big commissions and you feel great, while there are harder times as well. In order to combat the variance, here is my favorite way to budget if you hold a commission-based job! If you have a base salary, try to budget all of your fixed living expenses on your…
March 27, 2019
What has drawn me to study minimalism is it feels close to home and very natural to me. The effects are well known and I welcome it. I knew before watching the documentary on Netflix what it would sound like and what it would promise. I’m not surprised, but it did give me words and ideas to thoughts that only existed in my head. The compelling portion is the stories…
March 4, 2019
After years of doing mortgages for clients I had looked at hundreds of credit reports. I had “seen it all”. I saw the amount of debt people incurred for cars, homes, RV’s, timeshares, credit cards…you name it. The reports showed the amount of each debt, the total monthly payment and how many late payments had occurred. I also had to know the clients’ annual income in order to approve their…
February 12, 2019
The sweetest thing about the Roth IRA is you’ve already paid income taxes on the money, so when you retire you will begin taking withdraws tax free. Your future self is going to be ecstatic that you made the decision 30 years prior to start a Roth IRA. Let’s break this down. When will you put money into a Roth IRA? The answer is, before retirement and ideally when you…
February 9, 2019
Lately, I’ve been thinking a lot about the compounding effects of investing early and how it can be a struggle for those that are younger. There’s another layer in this as well – expected future income. Is there a way to predict what you will make in the future based on what you make now? I have become nervous as I’m investigating average income growth between ages 21-65. There’s one…
January 25, 2019
What is a Roth IRA and why does everyone keep making a big deal about it? One simple answer is, it lowers your taxable income year to year, it allows you to invest in a retirement account BEYOND your 401k limits and it has post-tax benefits. Alrighty, so, let’s dive in. The 1st Benefit: Roth IRA contributions will lower your taxable income. Currently there are 7 income tax brackets, check…
January 12, 2019
Number One: You’re saving too much WHAT are you talking about? Before you write me off, hear me out. How do you look at your overall financial situation? Is the success determined by the amount in your savings account or by the overall net worth? Net worth is your total amount of cash + investments minus your debt balances. Would you rather have $20,000 cash and have $100,000 in debt…
December 23, 2018
Imagine your boss calls you into the office today and gives you a raise! What do you INSTANTLY think about doing with that money? The majority of you will think, “yes! I can afford that thing now. This is the time to buy it”. Why do we instantly do that to ourselves?! You’ll think about the car you want but don’t need yet, the 2 bedroom apartment you have to…
November 25, 2018
Don’t buy because it’s on sale. Black Friday just passed and we saw $643 million spent by just mid-morning. I’m sure some consumers were savvy and had a plan of attack, tackling their Christmas shopping and saving a few bucks while they were at it. That’s great, but, I would bet the majority of consumers on Black Friday bought items they didn’t need. After all, American Consumerism has been built…
November 3, 2018
The idea is this – instead of buying a home, what if you invested the money-difference between your rent and expected mortgage payment? Would that build wealth at the same pace as owning a home? Let’s check it out over a 30 year period. We live in a fairly expensive housing market so it’s not easy to save and purchase a home here. I’ve been trying to consider other avenues…
