In the effort to take responsibility for our lives, we seek to control whatever we can to help us relieve stress and give us confidence. Unfortunately, it’s all too easy to focus on things we actually cannot control instead of the things that we can.
The Martin Luther quote said it well, “You can’t stop the birds from flying over your head, but you can keep them from building a nest in your hair.”
“Rich people use debt to leverage investments and grow cash flows. Poor people use debt to buy things that make rich people richer”
– Grant Cardone
With so many options to grab attention from my digitally native children such as YouTube, social media and online gaming, it’s often difficult to pull them away to engage in a simpler manner. Back in childhood we did have video games, but we were more likely outside in a pickup game of basketball or football. If we were inside, we played a myriad of boardgames like Monopoly, Life or Chess to keep us entertained.
● You’ve worked incredibly hard to build your assets. There’s a 90-percent chance it will all be gone within two generations.
● The vast majority of families treat money as a taboo subject—and that’s where the breakdowns begin.
● Have honest money conversations with your family and make sure you are in alignment about shared values.
● Becoming your family’s banker can work wonders for your wealth preservation and liquidity.
Stock Picking Fun and Games
Stock and mutual fund-picking contests are a way to test the expertise and various philosophies of different money managers.
Or perhaps, they’re a way to prove that success in the stock market is truly based on nothing more than luck and speculation.
Ask most and they would likely respond that banks make a signficant amount of money. As proof, the U.S. banking industry’s profits reached a record $62 billion during the third quarter of 2018, fueled in large part by the corporate tax cut. Without the tax cut passed by Congress last year, the industry’s profits would have been $54.6 billion, according to the Federal Deposit Insurance Corp., a banking regulator…still a pretty hefty figure.
With Memorial Day comes parades, family barbecues, and the kickoff to the summer season.
However, it’s important that we never lose sight of the day’s significance. Memorial Day is a day of remembering the men and women who died while serving in our country’s armed forces. Originally known as Decoration Day, it originated in the years following the Civil War and became an official federal holiday in 1971.
There seems to be no shortage of financial advice, but that has not led to economic success for most. Too many Americans are having trouble saving for their own needs and wants while struggling to pay down debt and keep up with the rising costs of healthcare and college educations.
For many Americans, perhaps nothing better symbolizes prerecession excess than the McMansion.
If you live in a suburb of one of America’s major cities, you’re most likely familiar with the idea of a McMansion: a sprawling, often architecturally mishmashed home boasting several thousand square feet.
More than the typical Easter Egg Hunt
As my kids woke up and came down the stairs with anticipation of another Easter celebration, they came across our dining room table covered with a tablecloth. Underneath were the expectations of all of their favorites such as chocolates and candies.
Formal education will make you a living; self-education will make you a fortune. Jim Rohn
The importance of education to one’s success is undeniable. Yes, we’re born with unique strengths that we need to embrace and nurture. However, there are important skills that a growth minded individual can learn if he or she so chooses to help them reach their full potential.