“It’s not the economy that’s going to determine your next six years, it’s your philosophy” said the late Jim Rohn, entrepreneur author and speaker. His words outlive him and are just as relevant today as they were decades ago. When it comes to investing – the act of putting our dollars where our values lie, is about philosophy. Before you can be disciplined about the small things, you must first determine what you believe to be true and in the power of your own action-making abilities.
Join Dennis today as he applies these principles to the relationship we have with money and the magic of compound interest! After all, life only asks one thing of us … to make measurable progress in a reasonable amount of time!
During the last year and a half, many charities that have relied on fundraising events and in-person relationship building have suffered. The financial insecurity many individuals faced also caused them to withdraw their monthly donations. Meanwhile, according to an article in The Wall Street Journal, “The coronavirus has spurred roughly $13 billion in donations to relief funds and for medical and vaccine research – more than all donations to 12 other big disasters combined, including the 9/11 attacks, the 2008 financial crisis, and hurricanes Harvey and Sandy, according to an analysis by Candid, which tracks and analyzes global philanthropy.”
If you want to make charity a part of your financial plan, don’t wait until the holidays, start the process now. There are ways to leverage your portfolio to help the organizations you care about while also benefiting your tax strategies.
I’m not sure about you, but it seems nothing short of surreal to be shopping in stores without a mask and shield. Eating out at a restaurant is thrilling. Gathering with family, giving hugs freely and meeting strangers is almost euphoric. While the pandemic is mostly in the rear window, the effects of it are not.
Today, Shea and Heidi will be taking over the show one Shea Stat at a time to highlight the good, the bad and neutral numbers of COVID-19, which is quite fitting considering that women have been impacted by the pandemic more than men. According to McKinsey, 80% of the Americans who have stepped away from the workforce to take on the duties of childcare, education, shopping, cooking and cleaning during the nationwide shutdown were women.
Over the last several weeks, we’ve discussed the blind spots that investors can develop. The psychology of investing refers to these blind spots as “cognitive bias,” where our brains are hard-wired to take shortcuts, oversimplify complex concepts or be overconfident in our decision-making processes. The Magellan Group has outlined 10 of those biases, and on our show today we will give examples as we’ve experienced them either with clients or on a global scale.
While it’s important to have help with the numbers, it’s also very important to get perspective on the head game behind them. In fact, that’s why people tend to hire advisors … hint … hint!
Join us today as we dive deeper into the topic along with a brush-up lesson on income strategies in retirement. That in and of itself is a trip!