Are you finally ready to get on track with your finances but aren’t quite sure where to start? Today we’re going to take a deep dive on how to budget and how to finally get on track to pay off your credit cards, your student loans, and how to finally start saving to accomplish your financial goals.
Have you ever felt like you’re doing everything right? You’re paying off your debt as quickly as possible, you have a short mortgage term, you’re maxing out your retirement plans, you’re paying cash whenever possible, and you’re investing in the stock market as much as you can afford to, but you’re still not seeming to get ahead. You still can’t reach that feeling of financial freedom like you’ve finally made it? If that sounds like you, continue reading because we’re going to diagnose exactly why that may be the case and recommend some simple shifts you can make to reach financial freedom.
In this blog, we’ll talk about how you’re using your money, how banks use it to make more (for
themselves), and how you can replicate their model of money flow to make sure you’re generating
wealth for as long as you live. We’ll talk about the infinite banking concept, how it works, and how
you can apply it in your own, everyday transactions and money strategies.
We have been constantly talking about the importance of you being in control of your money or regaining control of your money. So why is it so difficult to accomplish despite it being a very simple concept? In this blog post, we are going to talk about the unintended consequences that result from following traditional or conventional wisdom when it comes to your finances and how to regain control of your money by just knowing these things.
We have a team that specializes in the college application process. They will help you with everything from filling out the free application for federal student aid – FAFSA, to helping your child write essays for their college application. They will also help you negotiate for a better deal after you have received your initial offer on financial aid. All of these things are to help your student get into their dream school, a school that is a good fit for them. Not just that, it also helps parents not to overpay for their children’s college education.
When you get a premium bill and your cash flow is limited, you should always pay the base premium first.The more you pay into the policy at that time, the higher rate of return you’re going to get within your policy.The next is the paid up additions rider.By paying the paid up additions rider in the first five years, it will give you access to more cash sooner so that you can start using your policy to pay for the things of life.The third priority is the policy loan interest.If you don’t pay the loan interest, the loan interest will be added to the loan balance and it may constrict the amount of cash value that is available in the future to access via the policy loan provision.The fourth area should be the actual loan balance. As your loan balance gets paid down, your cash equity increases.
Regaining control of your money means putting you in a position where you could access your money when you need it. When we talk about plugging those leaky holes in your financial bucket, it’s literally identifying the five major areas where you are giving up control of your money. Those areas are taxes, how you fund your retirement, how you pay for your children’s college, how you pay for your real estate mortgages and how you make major capital purchases. We do a deep dive as to how you’re using your money in these five areas to show you exactly where you’re giving up control of your money.
The cost of college is not the same for everyone. Not everyone who goes to the same school in the same year will pay the same amount for college. The cost of college is individual to each family, and it’s based on a few factors used in the financial aide calculation. That calculation includes parent’s income, parent’s assets, student’s income and student’s assets.
Congratulations! You are now ready to access the cash value in your life insurance policy and might want to organize your finances by separating your family finances from your policy finances. In this blogpost we will talk about everything you need to know about setting up a segregated account for your policy finances.
When it comes to financial planning, we all have one end goal in mind. That’s retirement. For the past thirty seven years as a financial services professional, when people come to us with their yet to be taxed IRA or 401K statements, they are generally shocked when they find out how much they have to pay in taxes.Many don’t realize that after you earn your income and you pay your tax, whether or not you pay tax again on that money, the rest of your life is optional. It’s voluntary. The key is knowing what your choices are up front.
