In just a few short days, we will turn the calendar page to a whole new year. It will be 2023. Just as we have new opportunities each day for a fresh start and a new beginning to expunge anything that may have taken us off our game a bit whether that is overspending, overeating, or overindulging in any area, we also have a fantastic opportunity to embark on a new year filled with ample opportunities, dreams, and goals. Now, Take a step back and think about the past year. What was good and what are the areas where improvements can be and should be made?
This month, right now, it is the time to take stock in your assets – not your portfolio assets, I’m talking about all of your intangibles. January and the rest of the months will provide ample time to worry about the tangible things in your life. But now, as we near Christmas, I hope you take time to slow down and enjoy..
Amidst the rush of preparing for the holidays, take some time to look at your finances and see where you need to make improvements. Do this now before the new year. Start 2023 with a solid financial plan. One account you need to consider adding to your portfolio is an IRA, specifically a Roth IRA. A Roth IRA can help you become a tax-free millionaire. Want to learn how?
This is not a treatise against Dave Ramsey personally. He has helped countless people figure out their financial and life situations. He even provides some sound financial advice. Despite many reviews on the Internet about Dave Ramsey and the Ramsey machine, this is not a blog railing against him. This blog is actually my take on Ramsey’s ideology and how it aligns with mine along with key elements about which I disagree.
What an interesting concept – success. How do we define success? What is our passion? Are things more important than time with our loved ones? What is the price we are willing to pay to kiss our child or children and spouse good night? For me, there was no price. I remain resolute in my decision. I understand the difference between a job and one’s passion or mission. What began as a hobby and a desire to help others is now my full time endeavor.
This blog is a bit different from my other ones. It is not just information that I am passing along to you about how to budget, invest, or save, but is my perspective on the WHY.
Estate planning is necessary to ensure that assets will be secured for loved ones upon death or incapacitation as well as making sure children, if there are any, are cared for according to the person’s wishes. It does not need to be complicated, but you do want to make sure that it is done properly.
In order to help protect yourself from financial ruin, you need to prepare your moat. By having a deep enough moat, layers of financial protection, you can hopefully change the situation from a crisis or catastrophe to an inconvenient but manageable situation.