Attaining and maintaining financial freedom is a matter of habit and mindset. Having the right outlook and attitude about your finances, and then reinforcing it through the establishment of certain habits.
That is why I am doing a series of podcasts, starting with this one, about getting into the right mindset, and then reinforcing the right habits. Adopting these as soon as you can will get you that much closer to financial freedom. In this episode, I will talk about the establishment of the proper mindset, so as to lay a proper foundation for the habits.
The biggest transaction in most people’s lives is the purchase or sale of a home. Home ownership is a part of the American Dream, and can be very exciting. However, there are some problems that can arise in the transaction if you don’t take all of the proper steps (and sometimes, unfortunately, even if you don’t).
So in this episode I talk with the owner of Cardinal Real Estate Services here in Woodbury, Lynn Stambaugh, about 5 things you can do to insure the best chance that your closing will go through without a hitch.
Many people prepare their tax returns to discover that they are getting a refund. This is certainly great news and cause for celebration. Others, however, find out that they owe taxes, many in an amount they find to be unaffordable. They cannot simply write a check and enclose it with the tax return.
This can cause a lot of stress, as they face having to pay interest, possible penalties, and collection actions down the road, like wage garnishments and liens on their homes! That is why, for this episode, I invited back accountant Ira Krassan to talk about what can be done to negotiate a payment plan with the IRS, or an offer in compromise if the full amount cannot be paid. There are things that you can do, and Ira is here to tell you all about it!
Michelle Singletary, a personal finance columnist for the Washington Post, is the author of The Power to Prosper: 21 Days to Financial Freedom and The 21 Day Financial Fast, in which she lays out what she calls the 21-Day Financial Fast. The fast is about curbing the need to consume because, in her view, we all consume more than we need. I read about this Fast when I came across an article she wrote in the Post describing it, and I thought it would be a good idea to do an episode on it. It might just be the thing for you!
People in financial difficulty are often hounded by debt collectors trying to get them to pay. Although the constant barrage of phone calls and letters is bad enough, many times these collectors will use harassing and intimidating tactics in order to be the squeakiest wheel and get to your money first. Dealing with this can be very stressful and add to the overall desperation of those deep in debt.
But fortunately, there is federal law in place to protect you from this type of harassing behavior and even give you a basis to sue the debt collector for damages and attorney’s fees! It is called the Fair Debt Collection Practices Act, and it is a powerful weapon against unethical and unscrupulous debt collectors. In this episode, I talk about how this law can be your sword and shield against harassment.
No matter what statistic you read, it is fairly safe to say that most businesses fail. There are many reasons for this, such as poor planning, insufficient capital, or bad management, and working to avoid these is key to the success of your business. But some things are just beyond your control, and when those events happen, they can be devastating to your business.
One way to guard against this is having the right insurance. The proper coverage, such as business interruption insurance, can make all the difference in the world if disaster should strike your business. That is why, in this episode, I brought back local insurance broker Dave Strout of Cettei & Connell to talk about what kind of insurance coverage every business should have to increase the chances of success.
In Episode #1 of the podcast on New Year’s resolutions, one of the goals I mentioned for 2016 was making a budget. The vast majority of Americans don’t have one, and it is one of the most important things you can do to assure financial freedom.
But how do you go about making, and more importantly, sticking to one? Where do you start? What tools do you use? In this episode, I answer that question by reviewing one particular free online budgeting tool and suggesting others in the show notes. Checking them out for the help you need.
One of the biggest goals of financial freedom is a comfortable retirement. But you have to plan for it! Investment houses like Charles Schwab advertise about it on TV, there are commercials with huge dominoes show how a little invested now can build into a nice sized nest egg if you know how much money you will need to retire and how long that money will last.
The problem is that many people just don’t know the basics of retirement planning or even where to start. That is why in this episode, I talk to Chris Stagliano of Northwestern Mutual to get you the information you need to get started.
In this episode, I interview Domenic Postorivo of GreenTree Mortgage here in New Jersey on (re)building credit and when you can get a mortgage after filing bankruptcy.