by Randy Chalmers on October 14, 2022.
I’ve been asked many times “if Dave Ramsey says to fund a Roth IRA, why would I ever choose a traditional IRA”? Well, much like any advice, there is no absolute in reference to what will work best for everyone in every situation. Let’s examine the main characteristics of both types of IRAs. As...
by Randy Chalmers on October 7, 2022.
Have you been fearing that you will be living in poverty in your golden years because news articles and studies have long stated that Americans do not know how to save or don’t save enough? In 2002 the Economic Policy Institute study reported that 40% of households then aged 47-64 would retire on less than...
by Dave Conley on September 30, 2022.
Just like we do not know when we are in a recession (until after it has started), the markets begin their recovery in the midst of bad news. It is critical top your wealth to understand this fact: the markets (stocks & bonds) typically reflect where the economy is headed in 3-6 months from today. If you wait for the news to tell you the markets have recovered, the economy has turned around you probably missed out on a good portion of the initial recovery.
by Dave Conley on September 23, 2022.
Most of us make the same mistake with our money over and over: We buy high (when the economy and markets are up) out of greed and sell low (when the economy and markets are down) out of fear, despite knowing on an intellectual level that it is a very bad idea.
by Dave Conley on September 16, 2022.
Each and every month we get a question that is similar to the statement above. The questions are sincere but based on the assumption that one can invest in the markets painlessly. What I mean by that is I can get marketlike returns when the market is going up, then jump out of the market...
by Dave Conley on September 1, 2022.
$10,000 is still $10,000 = Capital Preservation $10,000 still buys what it did = Purchasing Power Preservation The distinction is vital to your long-term wealth! Not a month goes by that we do not have a call where someone inquires about investing and includes the phrase, “but I don’t want to lose my money“. The...
by Michelle McEachin on August 30, 2022.
We all work hard. Some of us work four 10-hour days. Some work five 8-hour days. Some choose to work 12-hour days all the time. But whatever you do… you put in labor and expect a fair return for your effort. You use that return to plan, budget, and live life to the fullest. Back...
by Dave Conley on August 26, 2022.
Who do you think you’ll be in a year? 5 years? 20 years? One of the big problems with setting goals, especially financial ones, is that we’re struggle with imagining our future selves. Remember what you imagined you’d be as an adult when you were a kid. I’m guessing there are some gaps between that dream and your current reality. When we talk about financial goals, we’re often talking about long timeframes.
by Dave Conley on August 19, 2022.
“We say WHAT we do, we sometimes say HOW we do it, but we rarely say WHY we do WHAT we do.” Simon Sinek Financial peace is not a number and wealth is about more than money. Let’s agree on a core truth, sufficient resources (time, health, money) are all needed for financial peace, but...
by Dave Conley on August 5, 2022.
We only have so much time, energy, and attention. So how do we decide where to place our focus? To figure out the answer to that question, think about what you are focusing on (fretting over). Now ask yourself two questions: 1. Does it matter? 2. Can I control it?