Many people have asked me who and where do I get advice on investing. My first “go to” is my financial advisor and if you trust them , many totally give up the decisions to them. If you are like myself, I like to be involved to some extent. I do a lot of reading about stocks and the market. I enjoy it and have learned a lot over the years. One point that I would like to bring up is the company’s earnings report. If you own stock in a company (Amazon, Facebook, Apple, GE, etc.), the company must report their earnings each quarter. The date of that report must be made public. Market … [Read more...]
Market Corrections??????
By now all of you have seen the recent ups and downs that the stock market has been throwing us lately. January started like gang busters and then we hit a “correction.” Many people panic when this starts happening. They call their financial advisors and yell “move everything to cash.” The advisers usually talk the client off the ledge and tell them to stay the course. In fact, if you would have sold during this latest correction and still been wary to go back in as of today, you would have lost a boat load of money. If you would have stayed, you probably would be close to the same amount you … [Read more...]
Your Report Card: Net Worth Worksheet
One of the questions on my Practice Management final at the dental school is, “What is your report card after graduation?” The answer is: Your net worth worksheet. While I know we are in a highly computer-automated society, for this exercise, we can still use a printed worksheet. Although money and assets are not the sole determinates of your life’s success, for this exercise pretend money is EVERYTHING! Zig Ziglar used to say, "Money is like oxygen - You really aren’t aware of it until you don’t have any.” Filling out a net worth document should be something you do at least once a year … [Read more...]
It’s How You Think That Will Get You There
Here is Part 2 of some thought provoking and poignant points on the difference between “middle class” and “world class” thinking when it comes to finances from Steve Sielbold’s book, “How Rich People Think.” Middle Class worries about running out of money - World class thinks about how to make more money. Instead of concentrating on how not to run out of money, spend your time concentrating and making decisions that will make you more money. Investing, real estate and purchasing things that appreciate, not depreciate, are good examples. Play to win; don’t play not to lose. Middle … [Read more...]
It’s How You Think That Will Get You There
A wonderful little book by Steve Siebold called How Rich People Think, has some thought provoking and poignant points on the difference between “middle class” and “world class” thinking when it comes to finances. Here are some of them. Middle Class believes money is complicated - World class believes money is simple. Many people think that “money” is so complicated and difficult to comprehend that it literally scares them away and, other than some of the simple ideas, they stay away from the stuff that can really make them money. Middle class believes building wealth is a solitary … [Read more...]