Understand the emotional side of financial planning
Many financial advisors focus on the practical aspects of financial planning when developing retirement portfolios with their clients. They will discuss the features and benefits of various investment options, tax implications, risk levels, sources of revenue and expenses that could affect retirement, insurance and long-term care riders, and other matters. The emphasis is mostly logical […]
With the Limits Raised, How Much Should You Invest Offshore?
Over the last few years, the government has slowly been raising the limit on how much investors in pension funds and retirement annuities could hold offshore. At this year’s budget, this was raised from 30% to 45%. The decision has been widely welcomed because it has some very positive implications. While there are some […]
Stay Calm When the Bear Prowls
“Courage taught me no matter how bad a crisis gets … any sound investment will eventually pay off.” (Carlos Slim) Hold onto your chips when the market dips When stock markets fall, it’s very natural to want to sell your shares and invest in less risky assets like cash and bonds, in an attempt to […]
11 Key Ways To Improve Your Money Mindset
When it comes to improving your personal finances your money mindset is a critical foundational piece. Your goals may revolve around becoming debt-free, saving money, investing, getting to 7 figures in savings but without the right financial mindset, it will be really difficult to accomplish. These days all it takes is a quick Google search and within seconds you’ll […]
The Psychology of Money: What You Need To Know To Have A (Relatively) Fearless Financial Life
No one is entirely rational when it comes to money. We don’t create and follow a budget or save something every paycheck though we believe it would be in our best interest. We know we need a financial plan but put off the work involved; somehow it never happens. We spend too much out of […]
7 Emotions and Their Affect On Your Finances
One basic principle that can help everyone manage their finances better is understanding money is emotional. It was one of the very first lessons my father taught me because he knew I needed to be able to recognize when my emotions were interfering with my ability to make value-based decisions, thus slowing down or preventing […]
Set SMART investment goals for long term financial success
Indeed, goals are vital to leading a successful and happy life. You need to know what you want from your personal life, what you hope to achieve in your career, and how you want to experience retirement. Without goals, life can become a series of muddled events. I’m going to take it one step further […]
Tisataafl
Not that there aren’t enough acronyms flying around the investment world already, but today I will reference a lesser known one – only to debunk it. TANSTAAFL: “there ain’t no such thing as a free lunch”. The etymology is uncertain, but the principle is intuitive; there aren’t many things in life that come for free […]
10 Strategies to Avoid Getting into Debt
No one tries to get in debt. It’s just one of those things that happens without your notice, or may even feel as if it’s out of your control. It’s just one of those things that happens without your notice, or may even feel as if it’s out of your control. However, staying out of […]
3 Principles of Financial Planning God’s Way
Early one morning several weeks ago while sitting at a coffee shop and catching up on some work, I met a young Dad who was struggling to put together a financial plan to best care for his young family. We talked a few minutes over a cup of coffee about some Biblical principles to help […]
