How To Teach Your 5 year Old About Money.

We do a poor job of teaching our kids about money in this country. In order to get my kid started in the right direction I set up the following system. I threw out my son’s piggy bank and gave him three jars. I labeled one, money to spend, one money to save, and one money to give. I told him any time he got any money he had to split it into thirds. Then I explained that he could use the spend jar money on anything he wanted. I would never question what he wanted to spend that money on. The money to save jar could never be touched. And the money to give jar was not only for church offerings but when he got invited to friends birthday parties he had to buy the birthday presents with his money to give jar. (I was tired of spending my money on his friend’s presents). I was amazing to see ...

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The Biggest Investment Mistake You Make Every Year

We all know that investments can be for short term, medium term, or long term.   Investments are often thought of in terms of stocks, bonds, mutual funds, real estate, etc.    Some people invest their money in private ventures and some in public companies.   Business owners will almost always tell you the best investment is their business.   In my opinion, the biggest investment mistake each and every person makes on a yearly basis is not setting aside enough of their personal income to invest in themselves.   Investing in yourself can be personally, professionally, and financially rewarding.   Here are my top five ways to invest in YOU! Advance Your Education- There are so many outlets today to gain extra knowledge and education.  It doesn’t have to be done necessarily by going back to school full time.   You could do a three day executive course or just sign up for one night class.  You could take an online course on a site like ...

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You Lost $24 Billion In 16 Days Mr. Government?

According to the USA Today (10/18/2013), the 16 day Government shutdown cost the economy jobs, delayed mortgages, and lost retail sales.  The numbers aren’t fully in yet, but it is purported to be at least 12 billion dollars and possibly as much as 24 billion dollars for the stalemate that took place in Washington, D.C. over the past several weeks. As a 22 year veteran financial advisor, you don’t advise someone to take out a Target store card right after they have maxed out their Sears and Nordstrom store cards.   We all know that piling up lots and lots of credit card debt is simply an unsustainable way to manage a financial budget.  What we all don’t know today is when the balloon will burst. It’s not a smart money move to lose 12 billion, let alone 24 billion, but I’ve come up with my list of things that we could have done with 24 billion. We could have handed ...

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