50 Shades of an Investment Plan

 

50 Shades of an Investment Plan?

I think we could all agree that 50 Shades of Grey is one of the hottest movies of the year so far!

But just how hot is this movie?
This movie has grossed more than $528 million worldwide.
Yes that is one hot movie!
50 Shades of Grey is the largest international opening movie of 2015. 
It is also the highest R-rated opening international movie ever.
So just how hot does this deal get for the young entrepreneur Christian Grey himself?
Well even after claims that actor Jamie Dornan was going to quit after this first movie, because his wife was uncomfortable with some of the explicit sex scenes.
Jamie Dornan has just recently signed a deal that will take him from being paid approximately $250,000 for this movie to a reportedly hot $7 million deal to star in the sequels.
Is this a good investment decision for Jamie Dornan and his wife?
This may seem like nothing compared to what some of the highest paid actors in Hollywood earn per movie with Johnny Depp earning $50 million for every movie or Leonardo DiCaprio who now earns $77 million for his movies.
With all that money to be earned in the movie industry is there an ideal script for managing finances and retirement when it comes to actors?
Even with the large amounts of money that can be paid to an actor per movie does this guarantee them a carefree retirement or are there drawbacks?
For actors it can often be a case of feast or famine which means they have to learn how to make the most of the money that they earn.
This can make it difficult for actors to manage their finances.  Due to the fact that work is not consistent and even though they may be paid very well for a role they may have to live off that for a long while before they get their next role.
One of the hardest things for an actor is when they finally do get that big break that can make them rich overnight they can also go broke overnight just as easily, because due to human nature when that big break that they have been waiting on come so does overspending and not enough saving.
All too often when actors are making large sums of money there are bad financial decisions being made at the same time which will hurt them in the long-term?  Bad decisions like investing too much into tax deferred accounts and then having to withdraw the money out early or simply spending too much and saving too little for the times when they are not working.

4 tips towards the perfect script for Financial Success;

      1.  Put aside at least 24 months of living expenses in cash.
      2.  Make sure you work with a Financial Advisor who will tie in the importance of Estate     Planning and Tax Advice into your overall plan.
      3.  Don’t just invest into tax deferred accounts; make sure you invest in taxable accounts that can be used without incurring penalties.  It is important that investments are maximized in working times and assets available when not working.
      4.  Anyone devoting their career to acting needs to know the importance of having a Financial Advisor as part of their team just like having your agent and manager.

 

 

 

 

Is it really worth the risk?

Is it really worth the risk?

Would you agree with me if I said everything in life worth having involves taking some kind of risk?

Everything we decide to go after in our lives has some level of risk involved in order to achieve what we want.
Taking risks of course can be scary, but the risk of doing nothing is worse.
The outcome is never certain but the rewards can be great.
Without taking risks we could miss out on so many opportunities and dreams.
Life is a series of calculated risks with no guaranteed outcome.
Some risks that are worth taking include;
The risk of failing
The risk of failing is one of the hardest risks of all for us to take.  Think about it for a moment when we don’t fail we succeed and when we do fail we succeed because we will have to find another way to do it in order to succeed.  Emotions are often what hold’s us back from taking the calculated risk in order to succeed.
The risk of making a mistake
To succeed in life we need to be able to make and admit our mistakes.  If we are not making mistakes we are not trying enough new things in our lives.
The risk of never being good enough
We will either be good enough or we will not.  But without taking the risk we will never find out and the risk of not knowing is greater than the risk of making a mistake.
The risk of love
To risk saying I love you and not to be loved back.  Of course it will hurt if we tell someone we love them and they don’t say it in return but it is better to take the risk and say I love you than wait and miss out on the opportunity of love altogether.

Parents are you back in the routine yet?

Parents are you back in the routine yet?

You know the long awaited routine of back to school.

Summer is fun that we cannot deny.
However after 3 long months of summer break I think parents, grandparents and kids alike are ready to get back to school.
I know that even though my kids love summer there is a part of them that also likes the comfort of being back in their school routine, as well as of course getting back to seeing their friends every day and getting back to their school sports.
What does back to school mean to us as Parents?
Well the first thing I think of is back to the crazy business of all the running around that comes with back to school and all of the other activities that my kids participate in after school.
But another thing that back to school represents is that our kids are another year closer to College.
In the same way that you are another year closer to having to fund you kids college.
As the Parent or Grandparent of children how are you planning to help them with their college expenses?
You need to be smart about the costs of putting yourselves at financial risk in doing so.
Do not forget the importance of creating a sound overall financial plan.
What does this mean and how do you go about doing that?

Motivation is Power!

Motivation is Power!

Motivation is the power you need to accomplish your goals.

It is the necessary force driving you to create lasting change in your lives.
Motivation is the fire that comes from within us make something happen in your lives.
It is something that cannot come from someone else.
Different things motivate different people.
Maybe it’s a new project you have recently embarked upon.
A desire to start a new business.
It might be pursuing a new career therefore achieving the goal to escape the mundane job that you have been doing for years.
For some it is the motivation to lose weight by eating healthier and start exercising.
It could mean committing to a relationship mentally and emotionally no matter how difficult it might be.
Maybe it’s your long term commitment to achieving your financial goals.
It is always easy to find the initial determination and passion to achieve your goals.
However it is keeping the motivation to achieve those goals that usually proves to be the difficult part.
What happens to your goals when you tire and start to lose your motivation?
Do you give up?
This is when you need to try and recapture that original motivation, which can sometimes be easier said than done.
Is there a way to regain the energy that drives you to accomplish and succeed in your goals?
How can you readjust your focus and maintain that motivation that you once had?
You see normally it is not your circumstances that have changed but your feelings.
So when you feel that loose of motivation it is time to go back to the source that motivated you to begin with.
Who or what it was that motivated you to achieve your goals.
Don’t be afraid to ask your friends or family for help to get back your motivation.
Maybe going back to the place that was the original source of your motivation will help.
Writing down your goals and referring to them often is also a good way to keep motivated.
Here are 5 Financial Goals that you should write down to keep you motivated to reach your financial goals;
1.      Invest more money.
2.      Pay down credit card debt.
3.      Cut back on unnecessary spending.
4.      Save for retirement.
5.      Create an emergency fund.
For you to create that lasting change it takes the kind of motivation that takes strength and long term commitment, do not expect instant gratification.

“An unwritten goal is only a wish” – common proverb.

  

Brazil 2014 is not a Retirement Plan!

Brazil 2014 is not a Retirement Plan!

At last the wait is finally over.

It has been four long years!
We have made it!
The world cup is now under way in Brazil.
I don’t know about you but I having been looking forward to it since the end of Africa 2010.
Every four years I look forward to the the thrill of the anticipation, the competition and the excitement.
Starting with the opening ceremony, which this year featured Pitbull and Jennifer Lopez among others.
Then there is the game itself.
Will Messi live up to everyone’s expectations?
Who will take home the trophy this year?
Do you like many others think that it will be host country Brazil?
Or what do you think the chances are of Spain being this year’s winners?
What about the good old USA, how do you think they will fair this year?
Even their team coach, Jurgen Klinsmann maintains that we shouldn’t expect the USA to lift soccer’s top trophy.
Is Messi the greatest soccer player of all time?
This will certainly be his chance to see if he can be compared to several other players who have gone before him worthy of that title like Pele and Diego Maradona.
However the fact that these soccer players will be getting paid enormous amounts of dollars does not guarantee them a great retirement.
The fact is that retirement for most professional soccer players is far from comfortable.
Often due to a mix of immaturity, out of control spending and a lack of good financial planning makes the wealth of these soccer players extremely unstable.
I suspect that soccer players due to the stress and peer pressure off their positions and that for most of them retirement comes at a very early age may lead to financial downfall for some of these players.
One of the most obvious problems begins with extravagant spending which none of these players will be able to continue after their short careers end.
Another problem is bad investment choices most likely due to the lack of interest or knowledge of how to manage a multimillion dollar portfolio.
Bankruptcy is something that more than half of professional soccer players will face within five years of retiring.
However the saddest fact of all is that all too often all of these problems leads to the breakup of their relationships, the divorce rate is between sixty and eighty percent for these soccer players.
Unfortunately for these soccer professionals they are not prepared for their wealth and further more they never get the education that they need to be able to manage their wealth.

Why would anyone want to be a loser?

Why would anyone want to be a loser?

I don’t know about you.
But there is one question I often ask myself.
Why would anyone want to be a loser?
Why would you not want to always try and be a winner in everything you do?
How can two people be doing the same thing?  One of them is giving their all doing whatever it takes to be a winner!
The other person however is just going through the motions and is happy with mediocre.
So why do so many people just go through the motions and expect no more than mediocre when it comes to their jobs, their families or even their appearance?
You know the kind of people that I mean.
We have all worked with someone like that, you know the person who just clocks in every day at work and is just average.  They never put in any overtime or any extra effort to excel themselves.
They are also the first ones who are looking for a pay raise.
Or maybe it is the person who shows up next to you at the gym and really why are they wasting their time they are there just to pass an hour, never exerting themselves to the point that it will make any difference.
So am I the only one that asks this question?
Why is it that anyone would aim for less than being a winner in everything that they do?
Yes it takes a lot of hard work and effort to make it happen.
But the outcome is always worth it in the end.
That feeling of success makes all that hard work, those risks we had to take a distant memory.
That is not a feeling that everyone will achieve in their life.

It is the same when it comes to your financial future.

Here are a few tips on how you can be a winner and achieve financial success in your life;

Can Money Really Bring You True Happiness?

What can bring you true happiness?

What even is true happiness?
Is true happiness any different from just happiness?
True happiness is not just happiness based on your circumstances in that moment.
Like the happiness you feel when things are going well in your lives.
That happy feeling you get when you fall in love with that special someone.
Or the happiness you feel when you have a job that you love and pay’s well.
Even the happiness you feel when you buy that new pair of shoes!
This is the type of happiness that is conditional and based on your circumstances.
True happiness however is the inner well-being you have all the time, or at least most of the time in all circumstances.

Procrastination? Rejection? What’s your excuse?

You know!

The excuse you use when you are avoiding something.

That something that really needs done and cannot be put off any longer.

Maybe it is that conversation you know you really need to have.

Or that thing you have been putting off indefinitely.

The thing that you are avoiding with every inch of your being!

Have you ever wondered why we do this?

I mean why is it we procrastinate over things that we know just need to be done?

The misconception of procrastination is that it is because we are lazy and cannot manage our time well.

However the truth is that procrastination is a weakness, an impulse so intense brought on by the fear of failure.

Sometimes It Is Okay Not To Be In Control

Today was one of those days!

One of those days when you are just not in control!
You know the kind when nothing is going quite right, and things are not going the way you want them to go.
No matter how hard you try and turn it around you just can’t.
No matter what you just can’t seem to get through everything that needs to be done.
There are complaints…..
Big ones….ugh….unintentional mistakes but mistakes nonetheless.

Healthy Body – Healthy Finances

When it comes to being healthy we almost always think of exercising and our eating habits, usually it means cutting back on our calorie intake and eating healthier. I know I do anyway. At the beginning of a new year or as the summer is approaching I usually think maybe I need to lose a few pounds and get in shape for the beach days ahead.

Have you ever thought that a healthy lifestyle and healthy finances could be related? What possible effect could your financial situation have on your health? People are financially stressed, and financial stress can cause havoc in our lives. Often it leads to trouble sleeping, overeating, drinking too much or even an increase in smoking. It can also put a huge strain on our relationships.

Make it an Extraordinary Year

 

I don’t about you. But 2013 was an amazing year for me. I am so blessed.

I am really looking forward to the year ahead.I know it is going to be an extraordinary year!

No just like you. I have not ended every year on such a high note or even looked forward to every upcoming New Year in this way. I like you have had my share of bad years. I have faced some major challenges in my life. Some things that I thought I would never be able to overcome. But if you knew me, you would know that I am a fighter. I am tough. And I am a very determined person. I am a real go getter. You would know that I love my job. And due to circumstances in my own life I am very passionate about helping others.You would know that I am not afraid of much!

Financial Resolutions for the New Year.

As another year comes to an end it is always a time for reflection.

Reflecting back on 2013 the lessons learned, and things achieved.

It has been a good year a great year in fact.

But it is almost time to welcome 2014, new lessons to be learned and new goals to be achieved for the year that lies ahead of us.

New Year’s resolutions to be made!

Honestly I am not a big fan of New Year resolutions.

Why?

Well resolutions are not supposed to be a wish list; they are not to be taken lightly like a shopping list.

So sometimes it is easier to avoid making them than make them and not be able to keep them.

New Year’s resolutions are decisions we make about what we want to achieve in the year ahead and then we need to follow through with them until we have achieved them.

The 5 Top Financial Mistakes That Women Often Make!

Women are working now more than ever before.

Juggling life as a professional business women, wife and mother.

Women are living longer than their male counterparts and therefore need to be more financially savvy about how their money is going to last them throughout their lifetime.

Unfortunately however women are still not allowing themselves the valuable time that they need, to get themselves educated when it comes to their finances.

Now Is A Good Time to Talk Finances

It’s that time of year again!

Yes the holidays are here.

Where has the year gone!  I’m I the only one that feels that the year has flown by?

I have so much to be thankful for.

I hope you and your family do too.

I am thankful each and every single day, but the holidays are that special time of the year that I love to take the time with my family to reflect on just how much we really do have to be thankful for.

The Importance of Life Insurance Within Your Financial Plan?

 So you know you should have life insurance. Right?

Is it something that you should only have for emergencies?

You know for your family in the event that something was to happen to you.

What can life insurance possibly have to do with your financial plan?

Even if it did, which life insurance would be of benefit to you financially long term?

Where do you even begin with so many types of life insurance out there?

Will Having a Financial Plan Benefit You?

 Could it be more vital for women to have a Financial Plan than a man?

Even though statistics show that women are less likely to actually have one.

Often women fall into the trap of using the men in their lives as their Financial Plan.

But women need to have their own financial plan.

When we take in to consideration that women live longer, typically earn 25 percent less than men and spend more time out of the workforce than men.

This can only lead to us needing our own financial plan and no longer rely on anyone else for our plan.

Women and long term financial planning.

Typically women tend to keep putting this of and are waiting too long to start their long term financial planning.  But it is something that needs to be planned sooner rather than later.  It is important to set goals like when you want to retire, how much you will need as an income when you retire, how much you will need for your travel plans and how much you want for your families.  The sooner you have these goals to aim for the more likely you are going to achieve them on the timeline that you want.

Being Rich does not mean you don’t need a plan.

Often the misconception is that when people earn lots of money they do not need to have a financial plan.  This could not be further from the truth because making lots of money does not automatically make someone rich, it does not ultimately determine your wealth; it is how much of that money that you are investing that determines your wealth.  Often what happens is that people who do earn a lot of money never see themselves as having financial concerns so they never seek advice with creating a financial plan.  But failing to invest for your future may hinder you from having a comfortable retirement.

The danger of relying on one spouse to take care of the financial planning.

Being reliant on one spouse within a marriage to take care of the finances can be dangerous, as statistics show that unfortunately almost as many as 50 percent of marriages end in divorce.  Even with the best divorce attorney, helping you get alimony and child support it is a fact that the standard of living for women can significantly drop.

Widowhood is another danger of having one spouse dealing with the finances, the average age of widowhood is 56 years old, which usually leads to women being left unprepared.  Due to that unpreparedness as many as 80 percent of widows will then live in poverty even though their husband was far from poor when he died.

  

The important steps to a good Financial Plan.

 Often asking the right questions and getting educated is all it takes to secure a financial future for yourself.  Questions like do I have enough life insurance to pay off my debt if something were to happen to me does my life insurance have any type of long term care or disability insurance within it if I were to need it in the future?  Will I have enough income to last me the rest of my life if I could no longer rely on my spouse’s pension.

Asking yourself these questions and sitting down with a professional is the start to knowing how secure your future really is, giving you the peace of mind that you deserve.

Why a Special Needs Trust?

I think as parents we could all agree parenting is not always an easy job.

Some things we just get right and some things we just don’t?

As parent’s we can never be expected to know everything that our kids will need.

But we do know how much planning is involved when it comes to planning for our children’s future.

Planning for the parents of children with special needs can often become an extremely daunting task.

I am sure a question they are always asking themselves is who is going to take care of their special needs child when they are gone.

Special Needs Trust planning is something where the parents should seek the advice of an expert.

For parents of children with disabilities or special needs it is vital for them to have an effective estate plan, which puts them in control of their finances while they are alive giving them the peace of mind that their children will be taken care of in their absence.

A Special Needs Trust helps ensure that the beneficiary receives the benefits in the way the parents intended and protects them against losing access to the government benefits, which can be affected by as little at $2000 if your child was to receive this as inheritance directly.  Which in most cases because of lack of knowledge in this area, leads them to disinheriting their special needs child and they leave the money to someone who they think they can count on to take care of their child.  In most cases however this is not the best answer.

Special Needs trusts can be used to supplement and never replace the government benefits that special needs children are entitled to.  But parents need to be educated on any restrictions that could affect the benefits their child receives.  Special needs trusts should be created to provide additional benefits while protecting the assets of the special need child.

Creating a Special Needs Trust ensures peace of mind as it allows the assets to be managed by someone who has been previously chosen by the parents, because in most cases they cannot be managed by the child on their own and can prevent the assets from being wasted away.

Of course estate planning in the case of special needs planning is no less of an emotional roller-coaster than any other estate planning; it is always a difficult process to go through.

But it is very satisfying for the parents when they have done it, knowing that they now have the peace of mind that their children will be taken care of by people they have chosen and in the way that they have instructed when they no longer can.  Making this one of the most important things a parent of a special needs child can do for them.

So if you are the parent of a special needs child do not put it off, it is vitally important that you make the choices for your child’s future and that you do not leave it to chance.