Tag: accountability
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Demystifying Present Value: Unlocking the Power of Financial Evaluation
Present value, in finance and investment, refers to the concept of determining the current worth of a future sum of money or a series of cash flows, discounted to reflect the time value of money. It is a method used to evaluate the profitability or attractiveness of an investment opportunity. When it comes to real…
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3 things I did early in life that I would not do today.
A great friend and mentor of mine by the name of Ken Byrd told me years ago, before he passed away. He said, “Brian, some people have one year of experience 20 times, while others have 20 years of experience.” Back then he was talking specifically about career advice and how to grow within an…
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Why you will Never be able to Save yourself in to wealth.
One of the old adages I have heard a million times is this exact phrase. You can’t save yourself in to being wealthy. Translation: You can’t only save money and expect to accumulate wealth. It is impossible. The money you made yesterday is worth less than it is today. And it will be worth less…
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4 mindset shifts that I had to make to build wealth.
There are many ideas and requirements around what true wealth is to an individual. It could be wealth in their health, happiness, love, joy, etc. But in this post I am talking specifically about wealth from a money standpoint and the mindset shifts I had to make to start building some form of it for…
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Three things a teen must DO to stay out of poverty.
There is some research that I have heard about for years now around what teens can do to prevent themselves from living in poverty the rest of their lives. This morning I took a deep dive to learn more about the research and the findings. Although this research and information came out in 2012, the…
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Why do we think this is harder than it really is.
In his great book titled Change or Die, the author, Alan Deutschman makes the point, backed up by a lot of research that people really would rather die than change their habits or routines. Here is one example: Consider those patients with heart disease. Most with heart disease find themselves needing medical help because of…
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5 pieces of the BEST financial advice I have ever received.
I am sure over the years I have been given a lot of financial advice that I have incorporated in some way into my life. If you are open to learning you will seek and find nuggets of wisdom in everything you do. For this post, I was thinking about what are those pieces of…
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5 pieces of BAD financial advice I received over the years.
As I think back on the financial advice I have received throughout my life, I have come to realize that most of it was given to me or adopted by me, from people who didn’t really know that much about it. Look, my parents didn’t intentionally provide me bad financial advice. They just didn’t know…
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In honor of Tax Day, let me tell you how much you actually pay each year in taxes.
Today is Tax Day 2023. As you are scrambling to make sure you file your taxes remember this. It wasn’t until 1913 when the 16th amendment was ratified which gave Congress the legal authority to tax all incomes. Up until that point there were no federal taxes. Up until then it was only done at…
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Quit delaying, write the check.
One of the things I hear from people from time to time is I have enough in checking or savings to pay off all of my debt. And my response is always, then why haven’t you? In my late twenties, even though I was making so called “good money” I had still accumulated some credit…
Pennies into Fortunes 