If you’re tuning into this episode because you feel guilty about not budgeting, confused about budgeting, lost, etc... I want you to know you are certainly NOT alone, infact there are thousands and thousands of individuals who are in the same boat as you. Budgeting can be a sensitive topic. In my personal opinion, budgets are kind of like tailored clothes. They should be sculpted precisely to fit you, and only you
I have had some past episodes on credit cards, you guys may remember the episode where I referred to them as tools... Right? Tools for building your CREDIBILITY! It’s not meant to be a safety net to purchase things you wouldn’t normally be able to afford...
I think we all heard A LOT about interest rates over the past couple years – and even when they’re such a huge part of our life, there are still many people who don’t understand how they work, and how they can be holding them down. Interest rates do make sense for what they are – You need to borrow some money? Of course you can’t borrow that money for free. You’re going to get charged a percentage of the amount you borrowed, until the amount you borrowed is paid off.
I’m sure you guys have heard the discussion of good vs. Bad debt before... And in my experience, a lot of people are under the impression that any debt, is bad debt. That’s not necessarily true – and having a solid understanding of this will draw that line between good/bad debt within your financial decisions. Good debt can really help you achieve goals. What are some examples of good debt?
The reason I wanted to dedicate an episode to debt-to-income, is because I’m personally around the age where a lot of my peers, including myself, are starting to make larger purchases, aka LOANS – And I’m mainly referring to buying your first home, but even purchasing a new car these days, DTI matters. To put it simply, debt to income is all your monthly debt payments divided by your gross monthly income.
One of the most reoccurring trends that I see is how they view investing... and that rather viewing it as an investment, many of them feel that they’re just spending money that could be spent elsewhere. And understandably so, as the cost of living has risen so high – but remember, I’ve had episodes in the past demonstrate that it’s about consistency over time, even if those investments are on the smaller side.
I wanted to dedicate an episode to a common scenario that most likely hits home for most U.S citizens. With numerous lines of debt piling up, from credit cards to loans.. How does one get out of the hole that they’ve dug for themselves over the years? When will someone invest for retirement if all they can afford is to pay off their debt? Well, there’s a certain process to it – or else individuals may find themselves just opening another line of credit when times get hard.
We have a very special guest. Not only a friend of mine, but a friend to many, especially in our local area. Kelly Wernersbach with Adjust Your Sleep Mattress Boutique. I met Kelly at a Marlton Business Association lunch – a local business group. Before I even met Kelly, I would hear about the amazing things she was doing like partnerships with local nonprofits, networking events with a purpose/cause... I could tell, Kelly ran her business with her heart. And she truly is a wonderful hu...
I wanted to dedicate this episode to financial plans – and not just financial plans for the ordinary scenario – but financial plans for young adults. We normally only hear of people getting one together as they approach retirement, but what if I said it’s never too early to start planning? Well, let’s start here. What is an actual financial plan? .....
I wanted to dedicate an episode to the idea of building a team of professionals to be on your side for a wide range of financial related topics. Whether that’s finding the right financial advisor for you, accountant, attorney, or life insurance agent. Like in any profession, there are going to be individuals who genuinely care about your situation rather than make a quick dollar from you. It can be overwhelming, meeting with several professionals in the same industry and trying to pick the be...
If you saw the title of this episode, chances are you’re getting started with investing or maybe you’re just considering it... but congratulations, because that’s the first step! I always tell people that the hardest part is normally just getting started and learning how to be comfortable with having money invested in the market. Fear not, if you have a plan in mind and means of holding yourself accountable, you’ll be alright.
I know in the past I have done episodes on employer sponsored accounts, and when I say that, think of 401(k)s. But what about the individuals who own their own business or possibly work for a smaller company, a startup, etc.. Some of those individuals don’t have access to a 401(k), and they’re unaware of the other options out there for them and their business. Hopefully after this episode – whether you’re a small business owner or an employee at one, you’ll know what option makes the most sen...
I wanted to dedicate this episode to something that normally goes unnoticed, or unattended to over time. In past episodes, I’ve discussed the importance of having an emergency fund of cash, enough to last for 4-6 months of expenses. You see most people just leave that cash either in their checking account, or a savings account not getting the best interest.
I wanted to dedicate an episode to a common belief that most individuals have about investing... And mostly younger individuals, but this can apply across the board. I think there’s a general assumption about investing, that to do so, one must be wealthy or just have tons of excess cash to invest. And that’s the stigma I want to break. It’s not about how much you can invest. It’s about what you invest in, how consistent you are, and how long you stay buckled up for.
Some of you guys may be tired of hearing me talk about budgeting... But you might have to get used to it... because it’s not going anywhere! People create budgets/have a budget in the back of their mind, but if you’re not checking in with that budget/doing your own sort of bookkeeping, that budget goes right out of the window.
Brought to you by LPL Research: Last week was a pivotal one for markets, with the S&P 500 coming off a 3% weekly decline the week before. In terms of economic data, we got our first look at first quarter gross domestic product (GDP) as well as the March reading of the Federal Reserve’s (Fed) favorite inflation measure — the core PCE deflator. If that wasn’t enough to digest, over 150 S&P 500 companies reported quarterly earnings last week, including the first batch of big tech names.&...
I want to take this episode to talk about one of my favorite concepts when it comes to investing – and I'm sure you’ve heard me say it before – and I’ll say it again, we cannot time the market. A french mathematician named Louise Bachelier first coined the random walk theory term – and he pretty much said that share price movement, or prices in the market, were like steps taken by a drunk.... unpredictable.
A lot of kids don’t grasp the importance of money, and that makes sense. To them, it’s just paper, right? At least in my early education as a child, there was certainly not any financial literacy courses. I think some of our school systems are changing for the better now, and there are more financial literacy tools available now than ever; but as individuals we can still do our job and try to teach the younger generations the fundamentals of money.
I wanted to make this episode just to outline the general thought process of an early withdrawal on a retirement account, whether that be a 401(k), IRA, etc. I think we all know that life can throw surprises our way, and sometimes we must use the resources that are there. But let's talk through this scenario before making any decisions...
Brought to you by LPL Research through the Weekly Market Commentary. (Jeffrey Roach, Chief Economist and Jeffrey Buchbinder, Chief Equity Strategist.) When we wrote the annual outlook last November, the data was mixed. Some metrics hinted at emerging cracks in the economy while others suggested the growth trajectory in capital markets and the economy had legs. So, the variety of the data produced the narrative that business activity in the New Year would grow on an annual basis but experienc...