I think most people, when it comes to their personal finances, focus most of their attention on what investments to buy. And if you think about it, It’s kind of the fun and exciting part of your personal finances. Obviously, they’ve got whole TV networks that are devoted just to investing, CNBC and Fox Business News, and most of what they talk about is, you know, what stocks are going up, what stocks are going down, what sectors are doing well, what funds are doing well, and all of that. So most people tend to focus most of their attention right here on what investments to buy.

The second concern or issue that most people look at is maybe where to invest at. And what I’m talking about there primarily, is, do you put it in an IRA account? Do you put it in your 401k plan at work? Do you put it in a Roth account? And obviously, the type of account that you put it into is going to have some big impact on your taxes, not only today, when you invest the money, but also in the future, when you go to take that money out in retirement let’s say. So, where to invest is actually a really big deal. And people kind of look at that, but they look it as maybe a little bit more of a secondary thought.

Finally, they look at managing their income and expenses. and they really, often times, don’t spend a lot of time focusing on that. So obviously, I think this is completely backwards. I think that we should be starting by looking first at managing our income and expenses. We refer to that as cashflow, and we talk a lot about cashflow here on some of our blogs. And we’ll continue to do that, but focusing on your cashflow, managing your income and expenses first, then looking at where to invest, based on your strategy, based on your tax situation, what your goals are, what type of account to put that into. And then, finally, we’re gonna look at what investments to buy.

Basically, cashflow is all about your income minus your expenses.  Your net cashflow I should say, but I don’t think a lot of people really, truly understand what is going on with their cashflow, where their money is going, and what impact that has on your balance sheet, or on your total assets, so we’re gonna talk about that a lot.  Again, if you haven’t already liked the Money Evolution Facebook page, please go ahead and do that. Like the post. Let me know what you think of it, and feel free to share it. Also, if you haven’t checked out moneyevolution.com, we’re making some big updates to that. We’re putting some new resources on there here in the next couple of days, so, look out for that, and I’ll see everybody tomorrow in our next video blog. Thanks, have a good night.

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What I Do

I help individuals make the transition from working to retirement.

As you approach retirement you will be making some of the most important financial decisions of your life. Most of these decisions don’t get a do-over, once you’ve made them your stuck.

My goal is to help you get the most out of your retirement resources. I do this by coordinating and optimizing what I call the 7 Core Elements of Retirement Planning.

It all starts with a plan!

We use advanced financial planning software to help you understand your retirement cash flow so you know where the gaps are.

Understanding your retirement gap is the foundation to getting the most out out of your retirement resources and avoiding costly mistakes.

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