Extra Cash? How to Decide Whether to Pay Off Debt or Invest

If you have extra cash or come into a sudden windfall, is it smarter to pay off your debts or invest the money? A woman came into my office the other day wondering this exact thing. Well, she didn’t ask the actual question… I did. She had a mound of credit card debt, clicking away […]


Wealth Building Techniques That I Learned From the Garbage Man

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 […]


Religious Schools – Good or Bad Idea?

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 […]


Sharing Bad Financial News With Kids

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. […]


Multi-Level Marketing Scams: Should You Ever Consider MLM as a Business Opportunity?

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 […]


Is Your Retirement Plan DOA?

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 […]


Six Steps to Fix Your Business

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 […]


How to Get a Loan from Your Friends or Family

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 […]


When Do You Stop Being a Beginner?

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 […]


How Much Money Should I Save?

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 […]