One of my core tenets of investing success when it comes retirement strategies can be summed up in the title of Jeremy Siegel’s classic book: Stocks for the Long Run. This is a great read for anyone looking to get a good dose of data on why owning a properly allocated basket of diversified equities is often wiser for the long-term investor than, say, owning a portfolio of fixed-income investments.
The second part of this three part series, is around the topic of: GOALS.
For some people this gets you really excited, and the prospect of writing goals, and thinking about the future and setting goals is a motivating and energizing experience. That’s wonderful, run with it and use this skill for setting goals to better your financial life. For many, however, the idea of goal setting is daunting or just plain dull. For some the very word “goal” causes you to feel anxious or maybe you just don’t believe in goal setting and it hard to think with any real clarity about the future.
I work with a lot of business owners in San Luis Obispo, and being one myself, I thought I’d right a ‘quick start’ tutorial on how to set up the simplest kind of business — a sole proprietorship.
Join me this summer as I teach a course on Planning for Financial Independence at Cuesta College.
About the class:
We will cover the fundamentals of sound personal financial planning. We will help you chart a course for financial independence according to your values, goals, and targets. We will teach cash flow planning, risk management, investment management, college education savings, retirement planning, and estate planning basics.
You likely live in fear of a tax audit. Here ‘s how to protect yourself.
If the Internal Revenue Service suspects you underreported your gross income by 25% or more, it can challenge your return for up to six years. If the IRS suspects you filed a fraudulent return, no statute of limitations applies.
In this week's personal financial newsletter installment, I have a couple articles to highlight from my reading -- Home Ownership vs. The Stock Market and An Under Appreciated Way to Save Big Money -- Your Car(s)
*Graphic shows 2018 net income of publicly listed companies (in billion U.S. dollars)
Link to original infographic: https://www.statista.com/chart/17545/worlds-most-profitable-companies/
Apple WAS known as the world’s most profitable company. However, Saudi state oil company Saudi Aramco disclosed company reports with US$111.1 billion in earnings in 2018, far surpassing competitors. https://www.economist.com/business/2019/04/06/saudi-aramco-made-a-111bn-profit-in-2018
In this 3 Part Series I will cover, what I believe to be, the three main elements of a properly built personal financial plan.
The 1st element of a well written personal financial plan is: Your Purpose and Your Values.
One of the most misunderstood benefits of the Roth IRA, in short, is FLEXIBILITY.
What do I mean by flexibility. Well, in particular, most people either don’t know or are misinformed about when you can take money out of their Roth IRA free of penalties or taxes. Namely, you can take out the contributions you put into your Roth IRA at any time for any reason without penalties or taxes owed.
