10 Commandments of Personal Finance

For some people, getting personal finances in order is more grueling than wandering the desert for 40 years. But it doesn’t take a miracle. If you are looking for some basic guidelines, just follow these 10 commandments:

1. Thou Shalt Take Action
Reading about how to improve your personal finances is a start, but it has absolutely no meaning if you don’t take the action of putting what you learn into motion. Before you can get anywhere with your personal finances, you need to begin — right now. If you are reading this article, you know that you should be taking steps to get your personal finances in order.

Print out this list and place it where you will see it every day, so that you are reminded that personal finance is a priority in your life and that you will take some action each and every day to try to improve your lot. If you aren’t sure where to begin, start with getting your banking accounts in order.

2. Thou Shalt Pay Off All Credit Card Debt
Credit card debt is, in most cases, continue reading »

The Next Shoes to Drop

I read a blog this morning titled "Out of Control " by Kip Herriage who I respect immensely.  In his article he points out some very unsettling economic news related to the stock market, employment, and the future in general.  While I am not including this to create any panic, but an additional source of awareness.  Read his "point of view" and you decide how to react.  Go to www.kipherriage.com

Let me know what you think and how you will be prepared. 

Until next time, J.

"Take control of your destiny or someone else will"

Entrepreneurship Has Gone Mainstream

Here’s an article I recently read from Zach Field, the Coeditor of The Edge Newsletter from CarbonCopy Pro.

According to Tim Petersen, managing director of the Institute for Entrepreneurial Studies at the University of Michigan Business School, "Entrepreneurship has gone mainstream, and that’s a trend we expect to continue."

Consider just the past few months, despite the recession and crash of global markets, the entrepreneurial rate in the U.S. is 11.7 percent according to the Global Entrepreneurship Monitor. That means nearly 12 percent of the U.S. adult population is involved in the start-up of a company, or a business that’s less than 4 years old. Compare that to 1999, when the rate was 8.4 percent. Elsewhere in the world, Mexico showed the highest rate of entrepreneurial activity, at continue reading »

Traditional IRA Accounts or Self-Directed IRA's?

Most people are aware of traditional IRA’s, ROTH IRA’s, 401K’s, etc. Have you ever thought of a self-directed IRA though? For those of you who may not be familiar with this type of IRA, it’s an alternative. An alternative to the stock market, bonds, and mutual funds, but with the same "rules" for withdrawals and taxation. For years people have been using this vehicle to "invest out of the box ", but it’s now becoming even more popular since the average IRA has decreased in value by about 40%.

There are many private equity investment opportunities, ranging from alternative energy sources, independent films, and even real estate…. (yes, even now!) One company located in continue reading »