How Do You Know When To Sell A Stock

You have owned one of those amazing technology stocks over the last decade and you are beginning to wonder…is it time for me get rid of this stock?  Or, should you hold on to it like your parents or grandparents held on to their blue chip stocks until the day they passed it on to you?   Maybe you just bought one of those blazing marijuana stocks and made a nifty profit and are thinking you should sell it because it may just be a fad.  Just like sitting down at the Blackjack table in Las Vegas, we all know how to pull up a seat at the bar, we know how to place some bets, but if we start winning most of us don’t have a strategy about when is the right time to cash in your chips. It’s interesting to see the different philosophies that reside on the internet today.  The Motley Fool, one of the largest investment websites ...

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5 Reasons You Aren’t Rich . . . Yet

Everybody at some point of their life has that dream of having enough money to do whatever they want whenever they want irrespective of cost.   Well, even if you do think about cost, that idea of becoming rich enough to walk in and tell your boss this is your very last day.   If you want to get rich, here are five things that may be in getting in your way from achieving financial independence, purpose, and freedom. You care what your neighbor’s think–  There are still many people holding on to their overpriced real estate waiting for it to come back.   In the meantime, the mortgage along with all the fixins you really couldn’t afford when you bought that house are killing your bottom line.    I believe most people are hanging on to those properties today along with the country club membership because of their egos and fear about what their neighbors will think.   It’s hard to swallow your price ...

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Personal Finance 101: Generation X Series – 5 Big Mistakes Gen X’ers Make With Their Money

Generation X is classically defined at people born between the years 1965 and 1979.    Pretty much those of you in your early 30’s to the mid 40’s.  However, having given personal financial advice to thousands of people, I can tell you that many of you who were born 1960 to 1964 fit within the Generation X type of financial and personal attitude.   Since I am 42 and have had a good deal of financial success, I’ve noticed some big mistakes that I see my generation making with their money and how they think about money.    Over the next five weeks, I’m going to pull one subject at a time to help those of you within Generation X get your personal finances on track so you can achieve financial independence, purpose, and freedom. MISTAKE #1– Not paying off your mortgage (and getting it done quicker) For many homeowners today it feels like Christmas time with thirty year mortgages available for under ...

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Five Money Lessons From March Madness

With the first big day of March Madness behind us, day two is sure to give us some other memorable buzzer beaters for the years to come.  While we all get focused on the office pools, March Madness can really teach you some great money lessons to help you make more smart money moves for the rest of your life. Defense is more important than offense – People I have met over the years are often chasing the investment that they believe can give them the greatest return.  This can be a risky stock, a piece of real estate, or some private equity investment. In additional as many people approach retirement, they continue to have the lion’s share of their money in the stock market. Pulling back your risk when you get closer to your goal or when you get older in age are important defensive strategies that can help you win games versus always thinking about offense. Making a ...

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Do Kids Need The Brand Names?

It seems like every mall or suburb strip outlet you go into today has virtually all the same stores. What would a mall be without a GAP or an Abercrombie & Fitch? What amazes me the most is how we as parents can get caught up in making sure that our children have the very best in brand names without thinking about the price or whether it is affordable in our monthly budget. ...

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