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20 Second Advisor: Budget considerations amid COVID-19
As we brace for the impact of COVID-19 and await policy interventions, here are a few considerations to keep in mind to stay financially resilient: Budget– revisit your budget and see if you can trim expenses in certain areas. It’s one of the most useful and essential steps during difficult times Service providers– reach out…
Read More20 Second Advisor: Coronavirus and the hysteria cont’d
I read a great article about the coronavirus that helps put it into perspective. Here are some of the main talking points: There are 79,331 cases worldwide, all but 2,069 are in China (as of Monday February 24th 2,595 deaths in China and 23 elsewhere in the world Death rate is around 1 % or…
Read More20 Second Advisor: 4th of July & Wealth Creation
As we celebrate the 4th of July this week, please enjoy the hamburgers and hotdogs, the fireworks, and, yes, the ability to create wealth in United States. The Declaration of Independence argues that all people are entitled to “Life, Liberty, and the Pursuit of Happiness.” The United States provides an incredible place for citizens to…
Read More20 Second Advisor: Tax Hike? What to do for 2019.
A lot of taxpayers will see their taxes drop as a result of the tax law passed in 2018. However, some families will see an increase in taxes. One of the main triggers for a tax increase is the new cap on the state and local tax (SALT) deduction. Previously, families could deduct an unlimited…
Read More20 Second Advisor: The 12% Your Coworker Lost
Markets are unpredictable. Part of being a long term investor is bearing the uncertainty of the market. Will it go up this year? Or down? Study after study shows* that most DIY investors make poor market timing decisions. When markets go down, people get antsy. It’s HARD to see your assets go down in value. …
Read MoreA new kind of suburb!
2 years ago, my wife and I moved from the city out to the suburbs. Our desire was to live in a walkable community with friends and family and have access to some good restaurants and amenities. According to research from Zillow, almost half of millennial homeowners live in the suburbs. While millennials might have…
Read MoreHow disciplined will you be in the next downturn?
Do you remember early 2016? I sure do. The global stock market dropped approximately 15% from November 2015 to February 2016. During that time, I received several calls from clients expressing concern. Some of these concerns are paraphrased below: “I can’t handle seeing my money disappear any further.” “Such a sharp drop in the market…
Read MoreDamage from Hurricane Harvey: What you need to know
After Hurricane Harvey made landfall this week, there are lots of people in Texas and the surrounding states with damage to their homes and property. For most people, their house is a significant part of their overall net worth. In light of these events, I asked Mike Sheehan, a licensed public adjuster, to write…
Read MoreA Dishes to Riches story
I heard this story on the radio the other day and just had to learn more about the story of Ali Sonko, a native of Gambia. After 14 years of cleaning the plates at Noma, a restaurant that has been named the world’s best 4 times, he is now part owner of the company that…
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