It certainly never feels good to lose value in your investments, and we understand that no one begins investing with the intention of losing money! However, the inevitable ups and downs of the stock market will occur. The premise of TLH is to sell some of your investments at a loss to offset gains you may have realized from selling other investments that increased in value…
The “IRA” was signed into law on Aug 16, 2022 and is projected to cost $430 billion.
Hurricane season is upon us! Actually, it’s been here for a while. Officially, it runs from June 1st to Nov 30th. But the hot season is fast approaching and it is always worth talking about hurricane preparedness items and, no, we don’t mean the usual items – batteries, water, supplies. Yes of course, all of those are important, but we want to focus on protecting your assets: Like your home, for example!
“Somebody’s sitting in the shade today because someone planted a tree a long time ago.” – Warren Buffett
A book that I recently have been enjoying is called “Simple Wealth, Inevitable Wealth” and throughout this book the author quotes Warren Buffett. In particular, this quote stands out to me. Think about planting a tree in earth. It will inevitably take root and grow over time.
I once read from Nick Murray that scratch golfers don’t necessarily hit the largest number of great shots, but that they actually just hit the fewest number of terrible shots.
This term, behavior gap, was originally coined by Carl Richards, and it refers to this idea that there is a difference between a wise financial decision versus what we may ultimately do based on our emotional decision making.
I love talking with entrepreneurs, because I can actually feel the excitement that comes with starting your own business. As someone who is familiar with that route though, I know there are countless factors to consider as you make decisions. Here are three things we’ve been doing from the beginning to ensure a healthy business:
Years ago, when we were first married, Jackie and I sat down together to talk about whose bank we would merge our accounts under. Like any educated, responsible adults about to embark on their first serious decision together, we used a coin flip. I lost, and nearly a decade later, we are still using my wife’s bank.
Let’s talk about the digital envelope system. It’s 2020, so the old-school envelope-full-of-money system doesn’t really make sense anymore. That system can be put in place digitally though, as Jackie and I have done.
Losing a loved one is an incredibly emotional time, and is often made more difficult by time-sensitive tasks like funeral arrangements or turning off streams of income like Social Security or pensions. Then you may learn you have inherited assets that come with additional taxes for you.