In this week's personal financial newsletter installment, I have a couple articles to highlight from my reading -- Home Ownership vs. The Stock Market and An Under Appreciated Way to Save Big Money -- Your Car(s)
The Most Profitable Companies in the World #SaudiAramco #AAPL
*Graphic shows 2018 net income of publicly listed companies (in billion U.S. dollars)
Link to original infographic: https://www.statista.com/chart/17545/worlds-most-profitable-companies/
Apple WAS known as the world’s most profitable company. However, Saudi state oil company Saudi Aramco disclosed company reports with US$111.1 billion in earnings in 2018, far surpassing competitors. https://www.economist.com/business/2019/04/06/saudi-aramco-made-a-111bn-profit-in-2018
Writing Your Own Personal Financial Plan, Part 1 -- Your Values and Your Purpose
In this 3 Part Series I will cover, what I believe to be, the three main elements of a properly built personal financial plan.
The 1st element of a well written personal financial plan is: Your Purpose and Your Values.
One of the Most Misunderstood Benefits of the #RothIRA
One of the most misunderstood benefits of the Roth IRA, in short, is FLEXIBILITY.
What do I mean by flexibility. Well, in particular, most people either don’t know or are misinformed about when you can take money out of their Roth IRA free of penalties or taxes. Namely, you can take out the contributions you put into your Roth IRA at any time for any reason without penalties or taxes owed.
Highlights: Warren Buffett’s 2018 Letter to Shareholders
Chairman and CEO of Berkshire Hathaway, Warren Buffet, released his annual letter to shareholders on February 23rd, 2019.
While the entire 15-page letter is great reading for all investors, here are a few snippets to incorporate into how you think about investing (and maybe even your life). Here’s the link to the full letter: http://www.berkshirehathaway.com/letters/2018ltr.pdf
Planning Continues Upon Retirement for Business Owners
As a business owner, you have invested a great deal of time and effort into building your company over the years. You know the amount of planning needed to maintain daily operations and grow your business. Now, you may be ready for retirement. But, the planning does not end. What you do next, and how you navigate potential tax issues and regulatory pitfalls, can make a big difference in the long-term success of your retirement.
College Cost Counsel
Preparing a child for college may be a rewarding, but worrisome, time for you and your family. Although you know that an education is “priceless” you cannot help but notice how large the price tag actually is. This may leave you with many questions regarding college financing for your child. The U.S. government has established an Internet resource for such a need. The website, https://www.ed.gov/college , gives information on college costs, and you can even apply for financial aid online.
Tax Planning for Retirement – Roth Benefits
After years of saving and planning for their golden years, many people nearing retirement fail to consider the tax burden they may face on income they receive after they stop working. While you may see a reduction in the amount of taxes you owe after the age of 65, you still need to plan ahead if you want to minimize your tax bill from the IRS.
Time IN the Market > TimING the Market
The belief that you, or a particularly talented financial manager, can foresee the direction of the stock market is a seductive one. Some investors are confident that, with proper research, they can make money by snapping up equities when prices are low, and shifting their investments into cash or bonds when the market hits its peak. Even worse, they believe they can pay someone else can do it for them. But longitudinal studies have shown time and time again that no one can consistently predict the direction of the market in the short run.