MONEY MINDSET #FinanceFriday

Can you believe I looked forward to splitting another Chipotle bowl with Amanda? It's all about your mindset...

WHY AM I DOING THIS?

 

INVEST LIKE THE BEST

What do the best investors do that the rest of us don’t? Investment manager Gary Mishuris answered that question in a Substack post. According to Mishuris, when it comes to the best investors, they... 

1. The best investors have a calm temperament that keeps them from allowing their emotions to control them when the stock market goes on a roller coaster ride. 

2. They have the ability to “do nothing most of the time.” They make investments and then wait for those investments to grow.

3. They “focus on process over outcome.” Outcomes are important, but we can’t control them. We can control the process by making a plan (like Dollar Cost Averaging) to regularly and consistently invest over the course of our life. 

4. The best investors are humble. They know they’re not perfect, and that keeps them from making bigger mistakes caused by being over confident. 

As a follower of Jesus, my trust doesn’t get shaken based on how the stock market is doing because I trust that everything I need will come from the Lord. The Apostle Paul wrote in 2 Corinthians 9:8, “And God is able to bless you abundantly, so that in all things at all times, having all that you need, you will abound in every good work.” (NIV) 

Whether we endure a bear market (bad times) or enjoy life in a bull market (good times), we can have peace knowing our God is with us and will provide everything we need to serve Him. 

If you are looking for a reliable investment strategy, try taking a dollar cost averaging approach where you systematically invest your money each month. Contact me to learn more!  

Email Wade: wadeallen.coach@gmail.com

SUPER SAVINGS!

There are 3 reasons why you should save money:

1) For Emergencies. 

(Because we all have that friend named Murphy.) 

2) For Purchases. 

(Because we all like to eat and drive places.) 

3) For Retirement. 

(Because we all want to stop working at some point.) 

Purchases and retirement are fun! But we cannot do any of that until we cover the basics. This is why you need an emergency fund - savings that you never use except in an emergency. 

(And going to Taco Bell is not an emergency... most of the time. It's usually after eating at Taco Bell that you have an emergency. But that's a totally different discussion.) 

If you would like to save more money, here are some ways you can be a SUPER SAVER… 

1 - Set up automatic savings through your bank.
Have whatever amount you can afford transferred automatically to your savings account. Out of sight, out of mind. 

2 - Pay yourself first.
Pretend your savings is a monthly bill with the same importance as your mortgage. Make that “payment” to yourself no matter what.

3 - Stop giving Uncle Sam an interest free loan every year.
I know we love to get that tax refund check, but if you would withhold less on your taxes, you can put the difference in your savings.

4 - Put half of any pay raise in the bank.
You won’t miss that amount because your paycheck will still increase. Score! 

I saw a report that said 1 in 5 Americans have no retirement savings. Please DO NOT be one of them. I love being able to help my friends set and meet their savings goals. I believe with God’s guidance and wisdom, we can all be SUPER SAVERS!  

“The wise store up choice food and olive oil, but fools gulp theirs down.”

(Proverbs 21:20 NIV)