It’s Hard to Imagine

It’s hard to imagine when you’re earning your first paycheck, loaded with debt, waiting for the future, struggling to pay your bills, desiring everything your friends seemingly have, that this is the time to think about what you NEED for your future.

If you know what you NEED then you can pinpoint the amount you must make in your career to quit.

The sooner you understand your number, the easier it will be to determine what matters to YOU. You’ll shed the expenses that you accrue living up to an imagined life, focusing on the costs that actually fulfill you. Your car, restaurant and bar expenses will likely fall while your enjoyment…

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It Takes Time

A word of warning: getting your financial house in order takes far more time than you expect. 

That doesn’t mean you should avoid it.

While everyone wants to put a dollar value on their time, the benefits of understanding these numbers will outweigh any dollar value you might lose by accurately understanding your true worth.

Moving your investments around so they’re in the right vehicles, invested in the right funds with low fees will provide you comfort knowing you secured future income.

If you’re not trying to beat the market, then all of this can be done…

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Assets vs. Liabilities

Do you know the difference between assets and liabilities? Or, to rephrase, do you know the difference in how you should view them while building wealth?

For most people, assets are those THINGS that could become money one day. This can include items like your house, your car, or jewelry.

For most people, liabilities are those THINGS that you’re still paying for. This can include things like credit card debt and student loans.

But when accumulating wealth – and really you can view these terms in this way for most of your life – assets bring in money.

Liabilities take away money.

How does that change your financial outlook?

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Get Rid of the Want

Searching for the secret to financial success or even financial freedom?

Ignore the want.

It’s what forces you to overspend. It’s what keeps you from saving. It’s what prevents you from investing. It’s what creates debt.

Want proof?

Stories abound about people making less than $50,000 a year repaying…

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Money Secrets

If you’re whispering under your breath about your spouse’s spending, something is wrong.

If you’re afraid to talk to your spouse about a your growing credit card debt, something is wrong.

If you don’t know, generally, how much your spouse makes in a year, something is wrong.

If you don’t know, generally, how much your spouse spends in a year, something is wrong.

If you don’t explain your money qualms…

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My Money Regrets

Why didn’t I invest more in my 20s, when the impact of compounding would have been even greater than it already will?

Why didn’t I ensure I earned the company match in my first 401k, losing out on the free money?

Why didn’t I look towards homeownership earlier since it’s one of the best buys of my life?

Why didn’t I read more, beyond the basics of finances, as my professional career began?

Why didn’t I diligently budget when I…

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The Optimal Financial Performance

The textbook says to stock 15% away each paycheck into a tax-advantaged account, and over 40 years you will have enough saved for retirement.

People save far more than 15%, though, trying to reach retirement in a decade or less.

What’s the optimal choice for you?

The textbook says buy a house that’s under 30% of your income.

Others buy houses that are 20% or less than their income.

What’s the optimal choice for you?

The textbook says that people, on average, spend $3,000…

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Sharing With Your Significant Other

If you can’t discuss your financials with your significant other (SO), ask yourself why.

Does it have to do with how your parents viewed money, never discussing it? That’s a shame; don’t be like them. Break the cycle and discuss it with your SO.

Does it have to do with fear you will disappoint her? If she really loves you, then there’s no reason you can’t share your financial truth. Break the cycle and discuss it with your SO.

Are you afraid of what he might think…

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The Latte

Cutting out the latte has become a budgeting flashpoint.

Some claim you must “CUT” the expense out of your budget. Think how much the $4 could climb when invested over thirty years, they cry.

Others say, “KEEP” your latte. It’s not a large enough expenditure to make a significant difference to your savings rate, they soothe.

Neither side is correct. Neither side is wrong.

It’s up to you…

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