Why Do People Fail Financially? Debt vs Leverage
Debt vs leverage. The misunderstanding and misuse of credit card debt have resulted in Americans carrying enormous amounts of revolving debt.
Why Do People Fail Financially? Misunderstanding Tax Laws
In today’s post, we will continue our series on why people fail financially. Today we will talk about tax laws and how common it is to fail due to misunderstanding tax laws. Misunderstanding Tax Laws “Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keepRead More
Why Do People Fail Financially? Poor Investing
You’ve made it to reason #4 to “Why Do People Fail Financially?”. In today’s post, we are going to talk about Poor Investing. Poor Investing is Easy to Do A better way to describe this would be that the chosen investments did not match up to the investor’s needs. Now that may sound like aRead More
Why Do People Fail Financially? Misunderstanding Compound Interest
For part three of our series on “Why Do People Fail Financially?”, we are going to address the concept of Compound Interest. Building Wealth through Compound Interest I often hear things like: “I’m starting from scratch. It’s impossible!” That kind of thinking is a major roadblock to financial success. You need to have some faith.Read More
Why Do People Fail Financially? Lack of General Financial Knowledge
As we continue in our series of “Why Do People Fail Financially?”, today we want to look at the second main reason this happens: Lack of Knowledge. Specifically, lack of general financial knowledge. Lack of General Financial Knowledge It’s nobody’s fault. General knowledge like buying a house, a car, insurance, etc. and knowing and understandingRead More
Why Do People Fail Financially? No Goals.
Today I am starting a series of posts on Why Do People Fail Financially?. Most, if not all, financial professionals agree that the leading reason for financial failure is just simply not having any financial goals. Or, if they do have goals, they are totally unrealistic. Like the song says, “Wanna be a Billionaire, SoRead More
The Six Step Planning Process (Part 2)
In this post, I’m going to cover the final half of the Six Step Planning Process, which you can (and should) use for your financial planning. Here’s a chart that I like to use to illustrate the entire process: Now, let’s go over the last three of these steps in more detail. The Six StepRead More
The Six Step Planning Process
In this post, I’m going to start covering the Six Step Planning Process, which you can (and should) use for your financial planning. Here’s a chart that I like to use to illustrate the entire process: Now, let’s go over the first three of these steps in more detail. The Six Step Planning Process StepRead More
The Importance of the To-Do List
I spent many years in business learning how to accomplish goals. I was obsessed with it. So much so, that one day, as I was listening to a cassette tape in my car on the way to the office, a gentleman by the name of Brian Tracy shared a brand new concept called a “to-doRead More