When I began my career as a financial advisor, I worked in a bank. On my third day on the job, I met one of the wealthiest men I would ever meet. Phil was worth over $10 million dollars – and this was back in 1986.
As if that weren’t enough, Phil never inherited a dime [...]
Neal's Articles
These articles were written by Neal Frankle, Certified Financial Planner in Los Angeles whose goal is to help people improve their
finances and find balance in life. He covers these topics at his personal blog Wealth Pilgrim.Wealth Building Techniques That I Learned From the Garbage Man
Written by Neal Frankle - 8 Comments
Published on July 28th, 2011 - 8 Comments
Filed under: Planning, Saving & Investing
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Filed under: Planning, Saving & Investing
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Religious Schools – Good or Bad Idea?
Written by Neal Frankle - 22 Comments
I recently met with new clients who happen to be religious people. The couple is very nice. In fact, they are wonderful people. But they struggle financially. Why? Do they have lousy jobs? Nope. They are great earners. Are they big spenders. Not really. They live very frugally except for the one item – a [...]
Published on July 14th, 2011
Modified on July 21st, 2011 - 22 Comments
Filed under: Education
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Modified on July 21st, 2011 - 22 Comments
Filed under: Education
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Sharing Bad Financial News With Kids
Written by Neal Frankle - 6 Comments
If you are like most people I know, you go through financial ups and downs. When this happens, do you talk about it with the kids or pretend nothing is wrong? If you decide to share it with your children, how? And how much do you share? I faced this dilemma a few years ago.
I’ve [...]
Published on June 30th, 2011
Modified on July 5th, 2011 - 6 Comments
Filed under: Education, Planning, Self Employment
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Modified on July 5th, 2011 - 6 Comments
Filed under: Education, Planning, Self Employment
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Should You Pay Off Debt or Invest?
Written by Neal Frankle - 17 Comments
A woman came in to my office the other day and asked this exact question. Actually, she didn’t ask the question – I did.
She had $50,000 in credit card debt (clicking away at 12%). What surprised me was that she had the $50,000 to pay off the credit card debt, but she didn’t plan on [...]
Published on June 23rd, 2011
Modified on June 29th, 2011 - 17 Comments
Filed under: Debt Reduction, Saving & Investing
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Modified on June 29th, 2011 - 17 Comments
Filed under: Debt Reduction, Saving & Investing
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Multi-Level Marketing Scams: Should You Ever Consider MLM as a Business Opportunity?
Written by Neal Frankle - 21 Comments
I have always thought there were better side jobs than MLM. I don’t know why exactly…but I just don’t like it. Two weeks ago, after a friend of my wife weaseled her way over to our house to discuss a “ground floor, once-in-a-lifetime opportunity,” I refused to come downstairs. I just stayed in my man-cave [...]
Published on June 9th, 2011
Modified on June 11th, 2011 - 21 Comments
Filed under: Self Employment
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Modified on June 11th, 2011 - 21 Comments
Filed under: Self Employment
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Is Your Retirement Plan DOA?
Written by Neal Frankle - 4 Comments
If you feel like your retirement plan is DOA, you are in good company. The financial crisis of 2008 whacked most people’s faith in the future. In fact, this is one big reason why more and more people aren’t ready for retirement.
Government debt is astronomical, and many people aren’t sure Social Security is going to [...]
Published on May 19th, 2011
Modified on May 23rd, 2011 - 4 Comments
Filed under: Planning, Retirement, Saving & Investing
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Modified on May 23rd, 2011 - 4 Comments
Filed under: Planning, Retirement, Saving & Investing
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Six Steps to Fix Your Business
Written by Neal Frankle - 3 Comments
If you are self-employed, I have great news. The most effective ways for you to improve your business are often free and very easy to implement.
Here are 6 ideas you can put to work starting today:
1. Interest expense
You may run a business that needs credit in order to operate but that doesn’t mean you should [...]
Published on May 12th, 2011
Modified on May 17th, 2011 - 3 Comments
Filed under: Self Employment
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Modified on May 17th, 2011 - 3 Comments
Filed under: Self Employment
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How to Get a Loan from Your Friends or Family
Written by Neal Frankle - 9 Comments
Even if you’ve been less than stellar with your finances in the past, you can still borrow money that you might need from family or friends. This is especially important if you currently pay high interest rates and want to refinance at a lower rate. If that describes you, your friends and family are a [...]
Published on April 28th, 2011
Modified on April 5th, 2012 - 9 Comments
Filed under: Debt Reduction
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Modified on April 5th, 2012 - 9 Comments
Filed under: Debt Reduction
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When Do You Stop Being a Beginner?
Written by Neal Frankle - One Comment
When do you give yourself credit for knowing what you’re doing? This is not a rhetorical question in the least. Knowing the answer to this question will have a huge impact on both your personal life and you career, as we’ll discuss shortly.
This question occurred to me today as I was doing some blog-related work. [...]
Published on April 21st, 2011
Modified on April 25th, 2011 - One Comment
Filed under: Miscellany
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Modified on April 25th, 2011 - One Comment
Filed under: Miscellany
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How Much Money Should I Save?
Written by Neal Frankle - 7 Comments
A client came in today and he asked me an important question. We were doing some retirement planning and he asked me about the rule of thumb for saving.
Andy and his wife Rachael are both 46 years old. They have two children, ages 7 and 4. They don’t have to worry about getting out of [...]
Published on April 14th, 2011
Modified on April 5th, 2012 - 7 Comments
Filed under: Retirement, Saving & Investing
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Modified on April 5th, 2012 - 7 Comments
Filed under: Retirement, Saving & Investing
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