Where Should You Be Investing In 2019?

As 2018 comes to a close, most of you will be more than happy to wipe away the last three months of stock market woes.  With interest rates sure to climb up more in 2019, uncertainty with the China trade wars, and a looming national debt, it has many investors wondering where the best place is to put your money in 2019.  While nobody can predict the future, it’s important to review how you are investing your money relative to your goals, objectives, time frames, risk tolerances, tax brackets, etc. In 2018, we saw far too many people who were older and had too much money in the stock market.  It’s important to remember to ‘act your age’ and in general you should look at the rule of 100.  If you are 60 years old, roughly 60 percent of your portfolio should be in safer more secure type investments and 40 percent in equity or investments that carry more risk.  ...

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Here’s Why Your Friends Are Going Broke

Most of the time when we talk about personal finance, topics including credit card debt, savings, investments, insurance, and coupons creep into the discussion.   Since nobody wears their net worth pinned to their chest, we truly have no inkling what our neighbors real personal financial situation is at any given point and time.   What I promise you to be true is that what appears to be an ocean of success around you is merely nothing more than a mirage of many people living on an obligatory basis to pay their bills.   Your friends will never tell you they are drowning in quicksand, but people around you are going broke every day and here are the reasons why. EGO– Your ego is something that can make you stronger or become an insurmountable obstacle to achieving success.  Remember, your ego is the part of your mind that contains memory.  It is ultimately what shapes your planning and your reality.   When it comes ...

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Where Can I Get An Unsecured Line Of Credit?

In the past five or six years, many Americans may feel like getting a line of credit parallels to being at a David Copperfield magic show, at one time, you could easily get free offers in the mail to consolidate your debt or gain access to easy capital, but the days of capturing an unsecured line of credit have all but vanished into thin air from our banking system. It’s hard enough to acquire new capital if you are a small business owner as you practically have to give your left arm or right eye, and personally guarantee everything you own just to get your hands on some much needed funds. Even worse, if you are an individual with a small amount of personal debt from $5,000 to $25,000, going straight down to your local bank to get these funds can be just near impossible. However, for both investors and debtors alike, every time there is a serious problem it ...

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Three Money Lessons I Learned From My Parents

I don’t think we can often appreciate everything that happens to us growing up as a child.   We know that our formative years can very much outline and shape the way we think and act as an adult.    We know that in some households money never gets discussed with the kids and in others there are detailed discussions about how to create a household budget.    These money lessons we learn as kids have a much deeper meaning in how we think about money than we can ever know in our adult years.   Here are three money lessons I learned as a kid and how they shaped my thinking around handling my family finances today. LESSON – Credit Card Debt –  My father unfortunately enjoyed buying things before he earned them.    He spent a great deal of money on credit cards for vacations, sporting event tickets, and his hobbies such as stamp collecting.    While I never knew for many years that ...

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Life Insurance: Why Do You Think 1 Million Dollars Is A Lot Of Money?

I’m excited to take part in the life insurance movement with Good Financial Cents.  Having been a practitioner involved with life insurance over the past 21 years, I have unfortunately had to deliver my fair share of insurance checks.   When I met people who have lost a loved one and now have to build them a financial plan, never once did I hear them say, “Boy, I’m so angry my life insurance agent sold me too much insurance!”    Rather, I hear horror stories from widows who cannot understand why their husband didn’t take out more life insurance.   Or, they assured their spouse that they would be ‘well taken care of’ if anything happened to them.   This is the story for many families across America. In the last six months, I’ve seen both friends and family who are in the 40 to 45 year old range dealing with major medical issues.   I’m 42 and when people told me about 10 years ...

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Three Ways Credit Card Companies Can Trick You

When the Dodd-Frank Wall Street Reform and Consumer Protection Act was put into place, credit card holders were supposed to benefit from the new regulation.    Consumers would receive new notifications for rate fee increases, statements would inform consumers on how long it would take to pay off balances, and credit issuers were required to mail bills at least 21 days before the due date.     Now that some time has passed since the Dodd-Frank Act, consumers are still struggling with all time high levels of credit card debt and the fine print coming from credit card companies are smaller than ever.   Here are three things you should keep an eye on so you don’t get stung by the credit card companies. Late Fees– Late fees are a big source of ways that credit card companies earn money.  Since many of us pay our bills through automatic payment, you should make sure you pay your credit card bill a few days before ...

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What will credit downgrade mean to you?

I waited a week to pass to the let the media frenzy subside around the recent credit downgrade.    All we needed was Tiger Woods to miss the cut at the PGA Championship this past week to make the credit downgrade seem like any other TMZ story of the week.    The Standard & Poor’s rating agency downgraded the United States Credit Rating from Aaa to Aa+.    While the other major rating agencies Moody’s and Fitch have left us at the very highest level, you have seen what the recent downgrade has done to the stock market making it look like a Six Flags roller coaster ride. As painful as this decision was (and it is kind of so 2011 media to begin doing an investigation into whether the math by the S & P was correct) to our country, we desperately needed a wake-up call.    I run a business and I continue to wonder how many politicians have ever even had ...

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