One of the most critical factors of long-term personal financial success is… guess:
And the answer is…. SPENDING. This fact is why a truly competent financial planner will spend the most time on discussing spending, both today and future projected, along with GOALS. (Goals are what people spend money on.)
“Man’s (or Woman’s) Best Friend”. At a time when true friends have proven to be more valuable than ever, it seems that getting a dog is something that a good number of people and families did during the past year of “stay at home.” Dogs, in many cases, brought true happiness to an overall terrible situation. Similarly, long-time dog lovers seem to agree: “if you want a friend, get a dog.” The benefits range from personal happiness to family happiness… with a good deal of responsibility mixed in.
A good one for Thanksgiving from the Archives of TGIF 2 Minutes….
Bottom line: being Thankful and Grateful are both positive things.
Simply saying “Thank you” out loud is hard to do without smiling either inwardly or outwardly. Try it! But say, “I am grateful for X” whether it is for a person, place, or thing, and it likely brings a deeper feeling. Perhaps that is why in the science of happiness – yes, there is a whole branch of science around happiness – the concept of gratitude is central.
The markets are telling us that the Coronavirus situation and the aftermath of an economic slowdown is likely not going away any time soon. The evidence is in the “indiscriminate selling” of nearly every asset class:
In light of graduation season, it can be beneficial to review (or celebrate) the basics of personal finance which can lead to future peace of mind – both for ourselves and the kids, grand kids, nieces and nephews who mean the most to us. From May 2018:
With what started out as a “simplified” tax law, with data already telling us that approximately 85-90% of American taxpayers paid LESS income taxes under the new tax law…. the reality is that the 10-15% of taxpayers who paid MORE federal income taxes under the new law are a somewhat unhappy – justifiably – group of Americans (as well as being you, my friends and clients).
Cash flow. Wouldn’t you like to have more of it around tax time? Well then, it may be time to delay or reconsider that new cell phone purchase.
Recently this “sticker shock” issue came to the forefront for me when I forked over $1,100 for my new Samsung Galaxy Note cell phone. OK, you may say, “Why didn’t you go with the zero-interest payment plan?” or, “Where have you been, Kerrie?” To which I would respond,
I did not go with the payment plan despite it being zero interest because I am all about having as much free cash flow as possible (therefore minimizing annoying monthly payments) and as little debt (except a mortgage) as possible.
I realize that back in 2017 the $969 iPhone 7 Plus came into being. So, I delayed purchasing a new phone and eeked out as much as I could with the old phone until it essentially ran out of memory and could no longer function as needed.
With it nearing the “home stretch” of tax time – probably most people’s least favorite time of the year – I figured I would pass along a couple of things that have helped take the edge off and keep me smiling. The caveat: everyone’s sense of humor differs, so what makes me laugh may or may not make you laugh.
The Movies. A cool way to “get away from it all” can be either to go to the movies or rent a movie at home – or binge-watch TV which has become more and more popular. Under the topic of movies, a well-done documentary can be especially funny or entertaining.
“FREE SOLO” – Recently this film deservedly won the Oscar for Best Documentary. The story of rock-climbing the world’s tallest and most dangerous rock walls – without ropes. Totally fascinating, breathtaking… and painful all at the same time.