Money Insight to Help You Achieve Your Goals
I have been passionate about personal finance from a young age (bought my first stock in 6th grade), and have my BBA in finance from the University of Iowa and my MBA from Creighton University.After working in banking, mortgages, investments, corporate finance and taxes, I realized my heart and talent was in educating and helping others find financial security.
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Finding Good Financial Advice
Your finances are important. But I am sure you knew that. So I won't waste your time telling you all the great things your money will help you do. Instead, let's chat about why it is important to get your information about money from reputable sources.
With the creation of the internet it has made learning about money so much easier. When I first started I had to go to the library to look up information on stocks I wanted to buy. Then we added social media. Making it even easier. But.....
That also made it easier for the scammers, and those that really don't know what they are talking about to show up and appear as experts. And the last thing you want to do is make bad money decisions or even give it away because of something you found on-line.
So how do you tell take advantage of all the amazing benefits of the internet and still protect your money?
Here are my tips:
- Have multiple teachers. This is for two reasons. First, personal finance is a BIG subject. One person simply can't teach you everything. I can help you with stocks, but you don't want me to do a deep dive into bonds. It's simply not my area - and one that I personally index in. Second, the more teachers you have the more ideas you are exposed to. Thus leading you to begin to figure out for yourself who is faking it and even learn better with different approaches.
- Watch out for anyone giving you specific "hot" tips. What might be a great investment for someone else, might be horrible for you. Do your own research on what is right for you. Plus, for fun, watch a bunch of those "experts" they are all talking about almost the exact same stocks.
- What is the person's experience. This is very important. They don't necessarily need to be formally trained in finance, but they do need to have some history if they don't. Our markets haven't had a longer term downturn since 2008. Our Covid blip was short, too short to qualify for experience. So think about that. Someone who started investing in 2010, has over a decade of experience, but has not faced a prolonged market downturn. (Side note, the market and the economy are two different things. We have had an economic downturn since 2008 but the market has not had downturns longer than a couple months before skyrocketing back up.)
- If ever in doubt hire a professional financial advisor to help you out. Better to spend money to get advice than to take bad free advice and lose everything.
I bought my first stock in 6th grade and never looked back. My undergrad is in finance, and I have my MBA. I have to "lie" about my experience on most risk forms, because they have built in calculations on how much experience you are "supposed" to have.
While I used to coach, and still do on other subjects. You cannot hire me to give you advice. So what I teach is authentically based in helping you learn. Not get you in a funnel. I am working on some courses for you, but those will be on Skill Share with no upgrade pushes.
Lots of Research
I don't share what I don't understand. I take the time to make sure I completely understand it. If I don't feel like I can adequately answer your questions, or give you good solid advice - I send you to someone who can. Example: I studied and experimented with options for five years before starting to talk about them!