Thu, 23 July 2015
This year my wife and I will celebrate our 25th wedding anniversary. I'm happy to say our relationship has never been stronger. This wasn't always so. For much of our marriage, I was a terrible husband. I allowed the pressures of work and the outside world to dominate my attention at the expense of my wife. Luckily, I woke up, got my priorities straight and can now say we have an awesome marriage. I want this for you too. In this week's episode, Nick Pavlidis shares his journey from terrible husband to husbandly awesomeness (He wouldn't say this, but I will). We discuss:
Join Nick in Becoming a Better HusbandNick is, admittedly, a work in progress. If you'd like to join him on his journey towards being more intentional in marriage here's how:
QuestionWhat is your nest advice for improving your relationship with your spouse?
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Thu, 9 July 2015
What do you think the midyear outlook for the market is? Greece, is all over the news (what is it with Greece, anyway?), markets in China are crazy and here in the U.S. everyone is freaked out about when interest rates will rise. What is an investor to do? In this episode, we'll discuss the midyear outlook for the markets as well as the importance of managing your assets in a consistent well thought out way. Your Investment Assets Should Be Aligned with Your Financial Priorities.All to often, we collect investments over time just like we collect "stuff" in our closet. As we walk through life, we see an interesting investment, buy it and repeat again and again. Over time, many end up with an investment portfolio that looks more like a storage closet than a well structured portfolio laser focused on helping achieve goals. Collected portfolios pose some serious risks to your long-term investment experience. Such portfolios make it very difficult to evaluate:
Much better, in my opinion, to have your portfolio, and your balance sheet, laser focused on helping you achieve things you know you care about. In short know:
It is Essential That You Stick with ONE Well Thought Out Investment Process.This is such an important point I need to do an entire show on it. If you switch from process to process you really don't have any process at all. This can be DISASTROUS to your long-term performance. Decide on a well thought out strategy and stick to it. Stick to it even when it feels uncomfortable; especially when it feels uncomfortable. Stay tuned for a future show focused on investment process. Highlight's From LPL Financial's Midyear OutlookIn this week's episode, I speak with LPL Financial's Anthony Valeri, C.F.A. about LPL's midyear outlook for the world economies and markets. Anthony and the entire LPL team are sharp cookies. More importantly though, because LPL does no investment banking or selling of proprietary products, they're investment opinions are not tainted by the normal conflicts of interest you see at major firms. Anthony is a Senior Vice President, Investment Strategies and sits on LPL's tactical allocation committee. Get LPL's Midyear Outlook for Investing
Although many packages are still in transit as we approach the midpoint of 2015, the biggest challenge for the market is putting the necessary pieces together to construct the backdrop for solid global economic growth, stable prices and currencies, and expanding corporate profits. The task is complicated by the Fed’s expected first interest rate increase in nine years later this year. The assembly will not be an easy one, but the LPL Research Midyear Outlook 2015: Some Assembly Required provides the investment instruction manual, tools, and tactics to construct portfolio strategies that may flourish in a market that remains in transition. If you're an auditory learner, here's a link to their midyear outlook video. Enjoy the Podcast? Please Help Others Find it in iTunes By Leaving a ReviewClick HEREo leave a review.
Direct download: Retirement_Answer_Man_Midyear_Outlook.mp3
Category:Investing -- posted at: 9:06pm CDT |
Sun, 5 July 2015
Many say the American dream is dead. That getting married, starting a family and building for the future is no longer possible. Unfortunately, many others believe it when they hear it. All the while though, there are people with "normal" jobs building the American Dream step by step. One such person (or couple) is Molly and her husband. He works as a teacher. She works part time. They have a home and young daughter but still safe 15% of their gross income. From our conversation, they don't seem to do anything magical. They simply work at being intentional with how they spend money. Lessons I Learned From Molly's Story
Molly
What Does Retirement Mean to You?“In my 20’s it was this nebulous way in the future concept that happens to other people, but would never happen to me because I’m never going to grow old." "Retirement to me would be a continuation, where I’m able to work just the amount that I want to. Maybe some of that is paid. Maybe some of that is volunteered. " "I think of retirement as the point that we hit financial independence, so that I’m not just working because I have to. I’m working because I want to." What Are You Most Excited About Retirement?“The flexibility to do whatever I want to do with my time.” "I would love to live close to my children, when they have children.” What Worries You Most Worried About?“Unexpected future expenses (home remodeling, more kids) could push back the date of our financial independence.” “I spend most of my time focusing on what I can control.” How Do You Think You're Doing on Your Journey Towards Retirement?“If you’re looking at the average American in their mid-30’s I think we’e ahead of the curve.” “We’re saving about 15% of our gross income towards retirement.” Do You Use a Financial Planner?“I took a Retirement Planning Today class at a local community college. They offered a free consultation. It was very sales oriented.” What is the Worst Financial Decision You’ve Ever Made?“I got an undergraduate degree that I’m not using. I got a teaching credential that I’m not using. I even went back to school to start to get a masters in nursing (and then dropped out). So, I’ve spent a lot of money on education that I’m not using.” “I didn’t pay more attention and try to learn about investing in my 20’s.” What Do You Struggle With When Making Financial Decisions?“I would probably say, I’ve gotten borderline obsessed with learning about personal finance.” What is Your Number One Resource?“The Library.” “I am in love with the public library.” How Do You Want to Be Remembered?Well, I think I want to be remembered by what kind of relationships I had with people in my life.” Question: What is the One Thing You Can Do Today to Be More Intentional With Your Money?For me, it is having better conversations about money with my wife Shauna. Lately, we've gotten a little lazy in our spending. Actually, I've gotten a little lazy with our spending. Not crazy lazy. More like I've become less intentional than I'd like about my spending decisions. Sorta like there's a hole in my pocket that bits of money falls though. I know it's there, I just haven't gotten around to fixing it yet. My wife helps me stay focused and fix these little things. What About You? Let me know here.
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Sun, 5 July 2015
Many say the American dream is dead. That getting married, starting a family and building for the future is no longer possible. Unfortunately, many others believe it when they hear it. All the while though, there are people with "normal" jobs building the American Dream step by step. One such person (or couple) is Molly and her husband. He works as a teacher. She works part time. They have a home and young daughter but still safe 15% of their gross income. From our conversation, they don't seem to do anything magical. They simply work at being intentional with how they spend money. Lessons I Learned From Molly's Story
Molly
What Does Retirement Mean to You?“In my 20’s it was this nebulous way in the future concept that happens to other people, but would never happen to me because I’m never going to grow old." "Retirement to me would be a continuation, where I’m able to work just the amount that I want to. Maybe some of that is paid. Maybe some of that is volunteered. " "I think of retirement as the point that we hit financial independence, so that I’m not just working because I have to. I’m working because I want to." What Are You Most Excited About Retirement?“The flexibility to do whatever I want to do with my time.” "I would love to live close to my children, when they have children.” What Worries You Most Worried About?“Unexpected future expenses (home remodeling, more kids) could push back the date of our financial independence.” “I spend most of my time focusing on what I can control.” How Do You Think You're Doing on Your Journey Towards Retirement?“If you’re looking at the average American in their mid-30’s I think we’e ahead of the curve.” “We’re saving about 15% of our gross income towards retirement.” Do You Use a Financial Planner?“I took a Retirement Planning Today class at a local community college. They offered a free consultation. It was very sales oriented.” What is the Worst Financial Decision You’ve Ever Made?“I got an undergraduate degree that I’m not using. I got a teaching credential that I’m not using. I even went back to school to start to get a masters in nursing (and then dropped out). So, I’ve spent a lot of money on education that I’m not using.” “I didn’t pay more attention and try to learn about investing in my 20’s.” What Do You Struggle With When Making Financial Decisions?“I would probably say, I’ve gotten borderline obsessed with learning about personal finance.” What is Your Number One Resource?“The Library.” “I am in love with the public library.” How Do You Want to Be Remembered?Well, I think I want to be remembered by what kind of relationships I had with people in my life.” Question: What is the One Thing You Can Do Today to Be More Intentional With Your Money?For me, it is having better conversations about money with my wife Shauna. Lately, we've gotten a little lazy in our spending. Actually, I've gotten a little lazy with our spending. Not crazy lazy. More like I've become less intentional than I'd like about my spending decisions. Sorta like there's a hole in my pocket that bits of money falls though. I know it's there, I just haven't gotten around to fixing it yet. My wife helps me stay focused and fix these little things. What About You? Let me know here.
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Sun, 5 July 2015
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