Secrets of a Wealth Creator: How to Buy, Borrow, and Pay Smarter

Let’s face it, we all buy things and we will need to buy things our entire life. It’s not necessarily what we buy, but rather the way we choose to pay for them that can have a lasting impact on our financial well-being. Especially those things we call Major Capital Purchases. These are things that cannot be paid for in full with our regular monthly cash flow. Certainly, things like cars, vacations, weddings are major but a new set of tires for many Americans could be a major capital purchase as well. If you can’t pay for it in full...

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A Matter of Perspective

Perspective

There once was a blind man who was miraculously given his eyesight. For his entire life, he had accomplished everything he needed to do without the benefit of eyesight. Instead of utilizing his vision, he leaned heavily on the use of his other senses. When he was suddenly able to see, he had nothing to relate his new eyesight to. What was once familiar was now strange and complicated. He was seeing things for the very first time, and he did not know how to travel his daily path by sight. In the beginning, even with his repaired eyesight, he...

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Qualified Plans: The Hidden Truth

Qualified Plans

For many people, the term 401k is synonymous with retirement preparation, and sometimes represents the full extent of their preparedness. Such accounts are often included as part of a benefits package provided by employers, and chances are if you have one, most of your retirement savings are being deposited into this account. Given that it can play such a prominent role in our financial picture, it is imperative that you fully understand exactly how these plans work.  So what do Qualified Plans do exactly?  Most people will be familiar with the fact that they defer taxes, which is true. But...

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Trains, Tickets, and Taxes: All Aboard!

Imagine that there are four people in line to purchase tickets at the train station. One after the other, they each purchase one ticket of the same class, on the same train, bound for the same destination. As they board, they take their seats next to each other and after exchanging pleasantries they begin to compare the price of their tickets. They are shocked to discover that they had all paid a different price for what was essentially the same ticket, and none could have realized their own situation without having compared it to the others. Their tickets, all identical,...

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Mortgages: Spoiled for Choice

Mortgages Spoiled for Choice

It is likely that during your lifetime you will allocate more dollars to the place you are going to sleep than anything else. As such, the potential to transfer your wealth away unknowingly and unnecessarily as a result of decisions made surrounding your mortgage is just as high. There is a great deal of misinformation and misconception concerning this topic, and often our decisions are made based on hearsay or commonly accepted perceptions, what others have done, or even media influence, not what is necessarily correct.  Choosing a Mortgage There are so many options available; it can be daunting which...

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The Golf Caddie Analogy

I’ve found that people tend to have a wide range of expectations that come to mind when they hear the term “Financial Advisor.” And it’s no wonder that sometimes even the advisors themselves have differing opinions on the term, and certainly different approaches to serving their clients. I’d like to outline what it means for me to be a financial advisor for my clients, and it’s not dissimilar to the relationship a golfer has with their caddie. The Caddie’s Role in Golf For a touring pro, there is a very unique relationship between them and their caddie. Not only does...

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Why My Clients Choose to Work With Me

Three Types Money

 If you have had any previous experience with a financial advisor, chances are the conversation revolved around how much money you have, where it’s located, we can do a better job. It would seem that most investment firms share the same singular focus of trying to find better products that earn a higher rate of return which often take more risk. For all of the fancy analytics and mathematical acrobatics available today, nobody has yet figured out how to predict the future. Earning higher returns is certainly not a bad thing, and something we can help you with as well,...

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Your Personal Economic Model®

Personal Economic Model

One of the tools we are able to utilize when discussing the best course of action to secure your financial future is known as the Personal Economic Model®. Much as a medical doctor would use an anatomical model to convey medical concepts, we use the following model to convey financial concepts. This model offers a visual representation of the way money flows through your hands. On the left, you will notice the Lifetime Capital Potential tank which illustrates that the amount of money you will control during your lifetime is both large, as well as finite. Once earned your money...

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Relationships Are Fundamental in Creating a Financial Plan

It’s a funny thing about advice. Everyone seems to have an overabundance of knowing what others should do, and they have no problem telling you about it, especially when the monetary gain is a motivating factor. However, there also seems to be an equal dearth of understanding about who such advice is given to. If you’re anything like us, we do not believe that advice for a “target market” is also solid advice for an individual whether they can be classified as a part of a specific target market or not. Everyone is unique and different individuals and with regard...

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