How To Bridge The Gap Between Your Financial Goals And Real Life

By Stacy B. Miller

Our personal financial goals are sky-high. Our goal is to be someone like Bill Gates or Warren Buffett, but the reality is something different. Most of us fail to reach 50% of our personal financial goals at the end of the year. We write our goals on a piece of paper and resolve to get them done. We discuss our goals and aspirations with friends and family. We create a budget and a ‘to do’ list. But as days turn into months, we forget about them. Nothing happens.

I don’t think anyone wishes to fail at their personal finance goals. So why do people fail to attain their goals? Why is there a gap between financial goals and real life? Let us find out. Continue reading “How To Bridge The Gap Between Your Financial Goals And Real Life”

Make Financial Freedom One of Your Strategic Goals

This post originally appeared as a guest post on DivGro on August 16, 2017.

Summary

  • Make financial freedom one of your strategic goals.
  • You have to know where you stand and where you want to end up.
  • Have a game plan or else you merely have a dream and not a goal.
  • Be sure you do not totally sacrifice the present for the future if you decide to make financial freedom a strategic goal.

Continue reading “Make Financial Freedom One of Your Strategic Goals”

Get Your Financial House in Order…NOW!

Subsequent to the US Presidential election in early November 2016, I have become “uber cautious”. My rationale for becoming this way is that:

  • Corporate debt levels are growing exponentially despite sputtering profit growth.
  • High-yield debt with “thin compensation” relative to increasing risk of default.
  • Political turmoil in various parts of the world appears to be escalating.
  • Subprime auto-loan default rates in the US now match those seen just before the 2007-2009 recession.
  • The number of retail outlets expected to close in 2017 will exceed that of 2008.
  • Almost half of certain emerging-market debt (the sovereign and quasi-sovereign variety) is below investment grade.
  • Canadians’ household debt (watch videos) at elevated levels.
  • Consumer debt levels in the US rivals those just prior to the Financial Crisis in 2008.
  • The quality of the leadership in Washington (not just at the Presidential level but his entire entourage). I suspect countless Americans who voted Trump into office held out hope that his “business prowess” would improve their lot. Had they read The Art of the Deal, a biography about Trump, they would have realized his “business prowess” is highly suspect. In my opinion, this man has few morals, is unethical, and is essentially a con artist. I recommend you listen to this 9 minute interview with The Art of the Deal ‘s “ghostwriter”.

Continue reading “Get Your Financial House in Order…NOW!”

Achieve Financial Freedom – Start By Asking Why and not How

The other day a reader asked me for some ideas as to how I go about selecting companies in which to invest. He had read other blogs which make extensive use of technical indicators and oscillators (Williams%R, MACD, Bollinger Bands, Stochastic Oscillator, etc.) and relied to a great extent on charting tools (SharpCharts, Point & Figure Charts, Candle Glance Charts, etc.). While he recognized these tools might work well for some investors, he acknowledged that his personality was such that he did not want to perform an indordinate amount of technical anlysis. Continue reading “Achieve Financial Freedom – Start By Asking Why and not How”

You Want Financial Freedom? Rid Yourself of Debt.

I have previously written about my concerns re: consumer debt levels here and here. While I don’t like to harp on the negative, I can’t help but become increasingly concerned when I read that Deutsche Bank’s chief international economist who has been staunchly bullish on the economy for quite some time is now talking about the following two downside risks to the US outlook:

  • the US has already experienced a very long recovery
  • credit quality is deteriorating

Continue reading “You Want Financial Freedom? Rid Yourself of Debt.”