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Learn 10 Financial Moves to Make in 2018.
Here are some suggestions to improve your finances in 2018:
1. Review & rebalance portfolio
– Make sure you are diversified
2. Consider strategic investments in high growth areas
– What can you buy low? Commodities? Uranium? Miners?
3. Reduce debt
– Refi or pay off
4. Save and invest more
– Savings accounts have low interest rates, investment accounts offer potential of higher compounding, but have more risk.
5. Think over large purchases
– Do you really need a new car?
– Do you need to move?
– Could you invest instead?
6. Time, Money, Compounding Rate are the 3 things that effect your wealth.
– Time = years to retirement
– Money = amount to invest
– Compounding rate = % you compound money
7. Consider how big picture changed and how it will affect you
– New tax law, lower taxes?
– Interest rates rising
– Cycles are changing
8. Things that didn’t change
– Your work? Income? Mortgage?
– Your goals?
– Your retirement age?
9. Start a side hustle for extra income?
– Never easier to start a business
10. Make time to learn about investing.
Action Steps:
Write about your thoughts in your wealth journal: Wealth Mini-Course & Journal by Linda P. Jones
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Hello Linda,
I have listened to 151 of your podcasts, and of those I have listened to some of them 2 or 3 times. I especially love the ones about having the right mindset! I went through a tough time this year, and listening to your show has really helped to pull me through it and give me hope, as well as interesting me in a whole topic of study I never thought I would be interested in. I have learned so much from you over the past few months, and have found that I am so interested in taking up investing as my hobby. You have such a way of explaining things that is so clear as well as entertaining. I can hear it in your voice and your words that you genuinely care about all of the people that you are helping, and I’m thankful that you found your calling, and that I found your podcast! I work on a yacht and I do a lot of cleaning, so I listen to your podcast throughout the day as I clean and take care of the boat. I have a million questions for you, but one is this, I would like to save up to buy a house in the not too distant future, though i’m worried about the real estate cycle now, what is the best place to put my money to save up for a couple of years? Thank you so much for everything, I am excited to listen to the rest of your podcasts!