Budgeting in just 4 steps! The traditional definition of a budget is an estimate of income and expenses for a set period of time. A budget for me is a structure for achieving a financial goal. It helps you track your income and how you spend your money. My approach is to start with my financial goal and I make changes in my spending to achieve ...
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Happy Holidays
The holidays are family time. Holidays in many parts of the world mean vacation. In my former (CFO) career, the end of year was the busiest. When I worked in the electronics/computer industry, the week between Christmas and New Years was a company shutdown. In other words, we had paid time off, except I generally worked some days to prepare for ...
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Future: Perfect!
My future is perfect for me! In English, we use future perfect tense to talk about actions that will be finished before some point in the future. In my case, it is less than three (3) years away. My future is certain, however the duration is not! I planned for thirty (30) years in retirement just in case I am right! I plan to have a perfect ...
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Why I Love Taxes!
I love taxes which is a huge paradigm shift for me! I used to hate taxes so much that I used the tax code to reduce my taxes to zero. Yes, that is right, I paid zero taxes for a very long time legally! When you invest in assets, you can depreciate them and use depreciation to reduce your taxes. Is that the only way to reduce your taxes? No, ...
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My Warranty Expired!
My good health warranty expired!. I am at an age (68 years old) when my warranty expired long ago! I am referring to the manufacturer’s warranty I noticed little things are starting to either malfunction or are worn out. I have excellent healthcare, but I need to take action. What does this have to do with personal finance? Everything! ...
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6 Habits for Success
Habits are more important than decision making. "Winning is a habit. Unfortunately, so is losing." (Vince Lombardi). All of us have good and bad habits. A habit is a recurrent, often unconscious pattern of behavior that is acquired through frequent repetition. Little things like your morning coffee, exercise, getting up early, reading or ...
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Do You Have What It Takes to be an Entrepreneur?
Are entrepreneurs born or made? You can take a class or earn a degree! I grew up in an entrepreneur incubator! Both my parents had thriving businesses and did not have the benefit of any college classes in entrepreneurship. I think if you interviewed them, they would tell you it was experience. They were passionate and did not know they could ...
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How an Online MBA Could Pay for Your New House
Business professionals who earn an MBA reap benefits for their hard work. They assuredly earn a higher income and take the fast track to improved career opportunities. An awareness of the factors that affect salary and job options helps prospective students plan for success. ...
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Goals You Will Never Achieve
Athletes, successful business people, and achievers set goals! Stop procrastinating or you will find yourself never achieving anything. Goals should be specific, measurable attainable, realistic and timely. SMART goals are a framework for setting goals! Any goal that you want to achieve requires consistent effort over time or it will remain just a ...
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The Pros and Cons of Investing in Rental Property or REITs
I love rental property! I bought my first home when I was twenty-seven (27) years old. My next investment was a nine (9) unit apartment building when I was thirty-one (31) years old. Over seven (7) years, I accumulated more properties. By the time I was thirty-eight (38) years old, I achieved financial freedom. Investing has its risks and ...
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