How to Build Wealth: Debunking Some Myths
One myth perpetuated by our culture is that in order to become wealthy, we need to get in on the next Instagram, pick stocks like Warren Buffett or have some miracle happen to us. While these fantasies can help us dream, they also can leave us chasing smoke and mirrors. The truth is that hitting […]
How To Reduce Money Anxiety & Feel More in Control!
Mental accounting is an economic concept that has gained recognition over the past thirty years. Popularized by economist Richard Thaler, mental accounting describes how we often mentally segment money for different purposes despite the fact that our money is fungible. In other words, the money coming into our lives — income, bonus, gifts, inheritance — […]
Should I Max Out my 401k? [Video]
Should I Max Out my 401k? (Transcript) Should I max out my 401k? The short answer is always typically yes, but the longer answer may be, maybe not depending on individual situation. For employees that have access to retirement contribution plans like a 401k or a 403b: you should really take a hard look at […]
Is it Important to Have an Emergency Fund? [Video]
Is it important to have an emergency fund? (Transcript) There’s a lot written out there about how much you should have saved in a rainy day fund. But I want to take a step back and answer the question “Is it even important to have an emergency fund or rainy day fund?” And the answer is […]
Is Financial Planning Just for the Rich? [Video]
Is Financial Planning Just for the Rich? (Transcript) Hi, I’m Jim Marrocco from Thinking Big Financial. Recently, a friend asked me if I worked with regular people. By this she meant, do I work with people that are not super wealthy? And it reminded me of this huge myth that exists: that a financial advisor […]