by John | Jul 8, 2016 | Cash Management, General, Success
I don’t know when I first bumped into the concept. Probably sometime in my 30s. I called it “The Party Tithe”: 10% of my income totally for fun.
I got it from Deuteronomy 14:22-26 in the Bible. (more…)
by John | Jul 6, 2016 | General, Success
A vintage 1994 ad from Scope Books Ltd. that appeared in The Times of London.
It must have been sometime in 1989 or 1990. I saw an ad at least somewhat similar to what I have reproduced above. And it grabbed my eye.
At the time, I had no money. But I had always been intrigued by “what else” is out there. (more…)
by John | Jul 5, 2016 | 1-Growth, 2-Income, General, Success
One of my advisors suggested I list the reasons why Sarita and I wanted to put money into the various investments we had already purchased or that we were thinking we wanted to buy. “Maybe create a matrix that indicates your purposes for each asset,” he suggested.
I followed his counsel and found the exercise helpful and eye-opening.
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by John | Jul 4, 2016 | 3-Legacy, Charity, General
Estate plans are vital. And everyone should have one. Just be sure you’re covering your bases. My experience says even highly competent estate planning attorney will fail to ask important questions. So you need to ask some of these questions yourself . . . and be prepared to direct your attorney in ways he or she might not normally think to go or, perhaps, never has gone before!
(more…)
by John | Jul 2, 2016 | Success
I have run into the following questions more often than I can remember. And, most of the time, I have found them rather frustrating. How about you?
- Where do you want to be (financially) in five years? 10 years? 20 years? When you retire? Etc. (???)
- What are you aiming for in your investments: Preservation of capital? Income? Growth? Profits? Speculation? Hedging? . . .
- You’re about to buy a stock. The “best” advisors say you should know your exit strategy. Okay. So when will you know it’s time to sell?
- What’s your number (when you will know you have enough to retire)?
- Where do you want your money to go when you die?
And so forth.
Why are these questions so frustrating? Because—at least for me—I have a hard time pinning myself down! So much “depends”!
Worse, (more…)
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