Joe and Al discuss 25 ways to get your finances under control. Many of these tips should be completed by year-end! The two also discuss some important tips for business owners to save money this year.
4:59 “If you take a look at the smartest people in finance, they make huge mistakes all the time”
10:11 “Business owners—pay attention! In this segment, we’re going to talk about ten tips that you might want to look at to save money this year”
11:02 “When you set up a business, you can be a sole proprietorship, an LLC or you can be an S-Corporation or C-Corporation”
16:22 “If you’re over 50 you can put $24,000 of your pay into your [solo 401(k)] plan, plus there can be a company match on top of that…you’ve got to establish a solo 401(k) by year-end”
20:24 “Do you know what rate of return you need to generate to maintain the lifestyle you need long-term? You take on risk by being too safe and you take on risk by being too aggressive”
25:49 “The price of a stock today is fair, it’s not perfect because billions of dollars trade hands every day”
28:03 “Risk and expected return are related”
30:08 “We are a fee-only registered investment advisor, a fiduciary 100% of the time. There’s no hidden secrets with our firm, it’s all transparent”
36:10 “Young consumers who experience the great recession, as they come to age, become saavy shoppers”
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