The Quintessential Key to Building Wealth: It’s Not What You Think

Anyone can create the lifestyle and legacy they want—even you, especially you! The good news is that if you want to experience prosperity, you don’t have to time the markets perfectly, make a six-figure income, or inherit a fortune from your deceased uncle. The bad news is that it’ll take work and you’ll have to do the exceptionally boring, yet all-important task to get you there: budgeting. I know it’s not fun or cool to talk about, but we must…

A Huge Warning Sign for Stock Market Investors

In the third week of March, 2020, the stock market experienced its worst day since 1987. With fears of the global pandemic worsening, the S&P 500 Index was down 34% by March 23rd.[1] Investors lost a lot of money. While much of that has been recovered, the 2020 market drop leaves valuable lessons for investors about the future of their money. In the months after March 2020, I’ve fielded dozens of phone calls, emails, and texts from investors who were…

Coronavirus Fears Worsen, but not Fundamental Market Issue

Coronavirus and stock market

The stock market has taken a beating this week with the Dow Jones Industrial Average (DJIA) experiencing at least two quadruple digit loss trading days and a possible third today. The DJIA peaked earlier this month at 29,551 points, but is currently trading in the 24,000’s territory. While we are noticing and tracking these market moves, we are not yet concerned. We are still optimistic about investing in the 2020 stock market. Here’s why: The stock market does not behave…

3 Long-Term Strategies to Slash $163,000 off Your Mortgage

mortgage

Read this article even if you don’t think your mortgage costs this much! Paying off your home faster gives you more money to put towards other activities and priorities in your life. Though it may be a challenging idea, you can do it with a little know-how and good old-fashioned grit! Here are three ways to help you shave off unnecessary mortgage interest allowing you to buy a new car, travel the world, retire earlier, or do whatever you want!…

5 Pitfalls To Avoid On Your Path To Financial Freedom

financial pitfalls

On your path to financial freedom there are several pitfalls to avoid. The following are the top 5 danger zones to watch out for on your way to achieving your goals and dreams. 1. Burdening yourself with debt. In its proper place, debt can be leveraged to help you achieve your dreams, such as when you’re buying a house, paying for education, or seeking to build credit. All too often, however, debt can also be a set of handcuffs keeping…

Is Your Portfolio Diversified Enough?

investments

The importance of diversification in investing cannot be emphasized enough. When divvying up all your investment eggs, it’s important not to put them all in one basket. So what does a well diversified portfolio look like? Different asset classes. An asset class is a different type of investment such as a stock, bond, or money market account. Each of these asset classes serves a distinct purpose according to its risk tolerance, duration, and rate of return. Limiting your investments to…