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Showing posts from October, 2011

Is Your Mindset Keeping You Poor?

What's keeping you poor? What's keeping you from achieving your goals and dreams? Is it your job? Is it your family or is it you? Do you find yourself constantly struggling with money? Do you always find there's more days in the month than there is money? Check your wallet, do you see cobwebs in it? If you are constantly having money issues no matter how hard you work, the problem may be you. Your mindset about money could be that's keeping you poor. Basically, you have a poor man's mentality. What do I mean by that? It means that if you believe you don't deserve to have a lot of money, then your subconscious mind is going to do everything to keep you from keeping money. It's going to sabotage you every time you come into a lot of money. Whether from working or winning the lottery. You may be saying, "that's not true, I want to have a lot of money". That may be true, but if deep down inside, in your core, you believe that you don't de
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Invest or Pay Off Debt?

A question I get asked a lot is do they invest for their retirement or pay off debt first? The answer I always give is to pay off your debt first. Here's why, Usually, your debt is high interest debt like credit cards or lines of credit. The interest rates charged on these debts ranges from 5% to 29%. These are guaranteed interest rates. That means no matter what, you know you have to pay those rates. When you invest, you may or may not get a satisfactory rate of return. Meaning, you may make 10% or you may lose 10% or more. If you have a high level of debt, pay off your debt first before you invest for retirement. Once you pay off your debts, you can use that money to catch up on your retirement savings. Alternatively, depending on how much money you make, you may want to start a savings program. This is different from investing, you are only putting aside some money for emergencies and only invested in a savings account. This is so that in the event of an emergency, you
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