Archives For Financial Industry

Happy Advicegiving

November 22, 2017 — 2 Comments

The Thanksgiving and Christmas holidays are, by far, my favorite time of the year. There is cheer in the air and an overall feeling of generosity. Being in the financial field for the past 20 years I have also learned that this is the time of the year when advice is handed out most freely.

So take this as a word of caution for this “Advicegiving Season.”

Most of this advice is well intentioned however often unsolicited. It typically happens when the large meal of the day is finished, politics has been exhausted and the football games are winding down. Now enter the “rich uncle”, you know the one, everybody has one. (And they aren’t always rich) I can say everybody has one regardless of your economic situation or even knowing you. The rich uncle or relative is the guy that likes to tell you all of his huge successes throughout the year, whether they are real or not.

It almost always starts with a philanthropic tone of, “you should get into _________.” It starts this way so that everyone in the room feels like, wow! He is looking out for me or I am getting an inside tip. Then this person drones on and on about how well it has done. If it were to stop there I probably wouldn’t be even mentioning this non-event. Unfortunately, it doesn’t always stop there.

As I mentioned being in the financial field; Now I get to hear about all of these huge successes in the weeks following each of the holidays. It has happened repeatedly for the past 20 years. Which is both great and unfortunate?

It’s great to hear about these ideas/investments because I love to hear new ideas. Great because there are things out there that genuinely successful people do that I want to know about and be involved. Trust me, I certainly don’t claim to know it all and I also spend a great deal of time each year researching and learning anyways.

The unfortunate part is when it derails a financial plan that was totally on the right track. Unfortunately many of these proclaimed investment ideas aren’t always entirely true or even understood. Never does the afore mentioned rich uncle take the time to understand if his idea, be it good or bad, is appropriate for the season of life of the recipient or fits in to their overall goals.

So this holiday season take the advice and be gracious. However, I would caution you to think through who is giving the advice. Have they been successful? Are they in a different phase of life than you? Are their values in line with yours? Most importantly make sure that you overlay this advice with your well-coordinated plan to ensure that it fits into your families’ hopes and dreams.

Best of luck this Advicegiving season! I would encourage you to stick with throwing the football with the kids after lunch.

 

Do you have that Uncle? Let us know, maybe it would be even be fun to tag them on twitter or facebook as you respond:) 

 

Happy Holidays!

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Congratulations to Robert Kiyosaki on reaching the 20th anniversary of his revolutionary book Rich Dad Poor Dad. Certainly myself and all of our clients have benefited from the wisdom within this book!

 

Kiyosaki Congratulations Opening Image

 

If you haven’t had the chance to read the book; Clearly I would recommend this as a first step in your Financial Education. If you aren’t a reader, Robert and The Rich Dad Companies have created numerous avenues for you to learn. You may want to purchase some of the videos or even a Board Game, Cash Flow and Cash Flow for Kids as other ways to learn from his valuable insight.

You can follow this link to a Blog Series that I wrote years ago highlighting some of what I learned from the original Rich Dad Poor Dad book. Visit YouTube to watch my personal Thank You message to Robert and Kim for this book and congratulating them on their years of success.

If you are looking for someone to work directly with on coaching you through some of these concepts in Real Estate Investing and/or Personal Financial Planning feel free to reach out to me directly, connect through social media channels in the sidebar, or visit Drive Planning On-Line.

The Origin of Labor Day

September 1, 2016 — 1 Comment

 

We live in the greatest country ever… Fact! As much as we hear political rhetoric and fighting amongst ourselves, fact remains that we are the greatest country ever. Our country was founded on the idea of self-reliance and individuals that work. They work to create for themselves, their families, community and country. So did you know that the day that we set aside to recognize the economic and social impact of those who work in our country was originally a Canadian idea?

 

Many argue that Labor Day was first proposed by Peter J. McGuire of the American Federation of Labor in May of 1882, after witnessing the annual Labor Festival in Toronto, Canada.  In 1894, President Grover Cleveland signed into law this day as a National Holiday. Since that date we have set aside this 1st Monday in September to recognize the economic and social contributions of workers in our country.

As we celebrate the day with picnics, barbecues, and parades with friends and neighbors; let us not forget the reason that we celebrate. We celebrate the ingenuity, diligence and the hard work that continues to make our country the best in the world.

So, how will you celebrate Labor Day and why…..? Share with me on Facebook, twitter or LinkedIn

                                                             

Read more detail regarding Labor Day and its history

Labor Day 2016 is on September 5, 2016