Obtaining an MBA is quite an accomplishment and is something to be proud of. However, there are 3 eye-opening things they don’t teach MBA’s in school, especially when running a small business. You’re probably so smart that you’re not Intelligence and knowledge are extremely useful in life, but it can also be a liability. What […]
College
Do You Make a Good Living and are Actually Poor? You Probably Need to Stop Doing These 3 Things.
We spend so much of our time working, working, and then working some more to make a good living, but do you have anything to show for it? I don’t mean showing off, but rather having a strong financial foundation with minimal debts, savings, investments, and other valuable assets. If not, then keep reading . […]
Are You Too Financially Cautious?
Is it possible to be too financially cautious? Cautious does not mean that you are just conservative or frugal with your money, but that you are too afraid to spend your money wisely. You may not even be aware that you are too cautious and here are some examples: Hesitate to make the right investments: […]
Is There a Link Between Strong, Healthy Relationships and Financial Success?
We don’t live in a vacuum. We are surrounded by family, friends, acquaintances, employees, bosses, clients/customers, colleagues, advisors, vendors, and everyone else. Financial success is not just all about you, but your support system. Let’s take a look: Family and friends: A common theme is to go to college, move out (possibly out of state), […]
When Should Your Parents Stop Being Involved in Your Financial Affairs?
Our parents raised us and shaped who we are today, and there is probably nothing that we can do in comparison to what our parents did for us, except for perhaps raise our own children well. But, when should our parents stop taking charge of our finances, career and/or business? It is a good for […]
A Silly Trap When Trying to Pay Off Debt
I have had numerous clients tell me that they are paying off their debts early, whether it is a student loan, car loan or mortgage, which is very admirable. However, they really aren’t paying off their loans early. How can this be and why? The reason is simple. They are not actually paying off their […]
Is Debt Good or Bad?
What are we to believe? Is debt good or bad? On one extreme are some financial pundits that say to go into debt and use other people’s money to make money, and on the other extreme are experts that believe that any form of debt is bad. Who should we listen to? Ignoring the rare […]
5 Financial Truths
There is a lot of information out there about finances, and it’s hard to figure out what is exactly true or not true. Always seek the truth, especially from someone that is not trying to sell you something. Here are some examples: College: We are led to believe that all of our children must go […]
Where Are all of the Young CPA’s and Why Should You Care?
I was at another continuing professional education seminar recently, which is very often as CPA’s are required to have 120 hours of continuing education every three years. One of the observations that I make each and every time is that I am one of the youngest CPA’s in the entire room. This is true now […]
Cost of College = $1,000,000?
If it costs approximately $30,000 per year to attend college, although that figure can be much higher, then the cost of college for my children will be over $1,000,000 when the time comes, especially as rates keep on rising. In case you are wondering about the math, here it is: 7 children times $120,000 (for […]