The Myth of “Track Record Investing” Among even the most hallowed asset management firms, prior success can be attributed not to a series of calculated, informed actions or unique insights but rather the good fortune of being in the right place at the right time–something also known as random luck. One of the most attractive…
Part III of the “The Illusions of Investing” series with Paul and myself addresses one of the most widespread illusions held by investors, that of credible “market timing”, by which an individual or group can confidently schedule investing decisions for a guaranteed profit or, in effect, “predict” whether or not the market will go up…
Once you begin building your financial castle, it’s time to build your moat. This is absolutely critical for long-term financial success. What good is having a castle if you have no way to protect it? This is going to be the least sexy and the least glamorous part of the financial independence process. No one…
At some point, you’re going to have some tough decisions to make about your future. We’re not invincible and nobody lives forever. It’s better to have a plan in your 30s or 40s than to be blindsided and scrambling at 65. You will have to sell or pass on your business someday. You will reach…
Now that you’re on the journey of saving for that dream lifestyle, it’s time to accept that your relationship with money is different than it was when you were hustling to grow the business. We’ve gone down the road of separating business spending from personal spending, but now it’s time to realize that the way…
Have you ever considered what it would be like to be considered “rich”? Don’t be fooled by those who appear rich. All too often, those you see as rich are not balance sheet wealthy, or to put it plainly, they’re broke. Watch the video below that demonstrates why, in some cases, $22.5 million dollars may…
This might sound laughable, but far too many entrepreneurs and business leaders have no idea how to spend money. Here’s what I mean: you’re used to spending large amounts on your business, signing off on international flights and new equipment for your staff. Four digits, five digits, six digits … so long as it’s helping…
Here is part 7 in our Basics of Finance Video Series on Rebalancing Your Portfolio. Why would you need to rebalance your portfolio? Is risk tolerance a consideration? How should you set up your asset allocation model? Sound Financial Group President (now CEO) Paul Adams shares the answers to some frequently asked questions about rebalancing your…
Once you’ve taken stock in what it takes to get to your dream lifestyle, you need to take account of your own personal strengths and weaknesses. You’ve gotten to where you are by emphasizing your strengths, often glossing over your weaknesses. If you’re finally ready to accept the fact that you do not know everything,…
Here is part 6 in our Basics of Finance Video Series on Rate of Return. How is rate of return calculated? What is going to produce your rate of return? Is it realistic to think you can beat the average market rate of return? Sound Financial Group President (now CEO) Paul Adams shares the answers to…
