Category Archives: wealth creation

Finding Your Happy Balance Will Help You Plan For Your Financial Happiness

Finding Your Happy Balance Will Help You Plan For Your Financial Happiness

Happiness isn’t about the next thing you want to buy. It’s about changing your way of thinking.

No matter what tough situations you find yourself in (use this space to verbalize or write down your tough situations) try to focus on what is going right in your life. Focusing on what’s wrong leads to a downward spiral of negativity. Thinking about what’s working for you can cause an emotional chain reaction lifting you upward.

If you set meaningful, realistic goals of what you want to achieve in life, including financial goals, and you take action to achieve goals on a daily basis, you’ll be amazed how those 365 little actions have added up to alter your life. The magic of action, even when we take the smallest steps, is transformative.

The following is taken from the January/February 2018 edition of Psychology Today. These “10 Rules for Reinvention” if kept somewhere where you can see them frequently and reflect on them, can help to make fundamental changes in behavior.

1. Don’t beat yourself up for your problem; it serves a purpose.
2. Acknowledge the fear of failing to meet a wanted goal.
3. List the pros and cons of changing, and inventory all the forces working for and against change.
4. Prepare in advance ways to counter feelings of frustration and discouragement.
5. Break your goal down into small, specific incremental steps.
6. Stay attuned to the dream; give yourself regular reminders of the goal.
7. Align your thoughts, feelings, and behaviors with your goal; you might feel fake at first.
8. Engage in any activity that boosts faith in yourself.
9. Keep friends around; they lift your mood.
10. Accept the deep discomfort of uncertainty that change brings; it’s only temporary.

Like the featured rainbow picture, this picture was also taken by Tony Gorman.  It was taken a few days ago at the Mystic Seaport.  I believe that water and the color blue are therapeutic in that they represent serenity.  To all who read my blog, thank you; and I wish you a successful 2018 both personally and financially.

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Filed under wealth creation changes need immediate action

The U.S. Department of the Treasury is phasing out the myRA® program. I am truly sorry to see this program end. I read, whether true or not, that the program is ending because it has been deemed too costly to operate.  I would very much like to add comments about the waste within our government, but I believe I could accomplish more by providing useful financial information to those of you who read my blog.

If you have invested in the program, go to the myRA website for important details about your account and the next steps you need to take. There are several options you have to transfer/withdraw your money.  I would prefer that you NOT withdraw your money without reinvesting into a Roth IRA.

And here’s my major reason why – the power of compounding interest.


The money you save in a savings, retirement, or other account can earn interest or investment earnings.  When you leave the money there, over time you can also earn interest on your interest, or earnings on your earnings.  Although this sounds like a slow process, once you get started it can result in some impressive growth in the money you’ve saved or invested over the long haul.

Here’s just a simple example.  Say you initially put $500 into an investment, you add $25 each month, the money earns 4% compounded monthly.  What would you have at the end of 25 years?  $14,201.12.

You don’t even have to know how to do the math for my example. So, don’t panic.  Access and use the “compound interest calculator.” is a website of the US Securities and Exchange Commission. One of the objectives of the Commission is to protect investors.  It’s an excellent website and provides resources and financial information in a format that is easily understood.

I believe it’s more important than ever for everyone, even young children, to understand basic financial concepts.  Why? Not only for your personal financial security but also for your understanding of how your municipalities handle their finances – ultimately your money.  If you don’t have a basic understanding of money, how do you know if the people you elect for your government positions are financially savvy!

Thank you for visiting my website and reading my blogs.

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Filed under retirement, wealth creation

Need Help Saving for Your Future?

Do you need help saving for your future?  There is a great starter retirement savings program called myRA.  It’s a savings account from the United States Department of the Treasury.

There are:

  • No cost or fees
  • No complicated investment options
  • No risk of losing money

It’s simple, safe and affordable.

Who is myRA for?

The program is designed to make saving for retirement easy for people who need it most – the workers who don’t have access to a retirement savings plan at their job or lack other options to save.

Why is it a good option?

It’s simple.  You take control.

  • You can set up automatic contributions.
  • If you change jobs, the account stays with you.

Withdraw the money you put into your account any time without paying tax and penalty.

It’s safe.  No need to worry about your investment.

  • The investment is backed by the United States Treasury.
  • Your account safely earns interest at the same rate as investments in the Government Securities Fund.
  • Guaranteed by the government never to decline in value so there’s no risk of losing money.

It’s affordable.  Fits your budget with no cost or fees.

  • myRA costs nothing to open and has no fees.  You can contribute any amount you choose – $2, $20, $200, etc.  Whatever fits your budget.
  • myRA is a Roth IRA and subject to the same rules that apply generally to Roth IRAs.

Visit to learn more about this truly great program to start your saving program to secure your financial future.

Thank you for visiting my website and for your interest in wanting to secure a future free a money worries.

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Filed under retirement, wealth creation

Learn the Language of Wealth Creation

Hello Friends,

If you want to create personal wealth, the first step you need to take is to learn the language of money.  Assets, liabilities and net worth are three words that make up an important formula to help you accumulate personal wealth.  The formula is:


So what is an asset?  It is a possession that generally increases in value or provides a return, such as:

  • a savings account
  • a retirement plan
  • stock and bonds
  • a house

Some possessions (like your car, big-screen TV, boat and clothes) are assets, but they aren’t wealth-creating assets because they don’t earn money or rise in value.  A new car is a tool that takes you to work, but it’s not a wealth-creating asset.  Take note, I’m not talking about the likes of a celebrity’s antique car that can increase in value.

liability, also called debt, is money you owe, such as:

  • a home mortgage
  • credit card balances
  • a car loan
  • hospital and other medical bills
  • students loans

Net Worth is the difference between your assets (what you own) and your liabilities (what you owe).  Your net worth is your wealth.  Are you worth as much as you want to be?

Becoming financially stable takes discipline.  And it is a discipline only you can teach yourself.

If $ in < $ out, there’s a problem.

Invest in yourself.  Believe in yourself and be willing to improve yourself by mastering a new skill or increasing your knowledge base.

Download my free ebook, Money-O Management Kit for Beginners.  I have a section called Moneycabulary(tm) which will help you learn the language of money.  One Moneycabulary word to learn:  Money Values – a code of money ethics that adults and children may want to live by.  For Example, honesty, responsibility, family and health come before money.



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Filed under wealth creation

A.C.T.:Accept, Create, Take Action

Hello Friends,

Gary Emery, Ph.D., created the ACT formula for dealing with stress.  It is translated to mean:

  • Accept what is (which does not mean just passively accepting whatever life throws at us)
  • Create a vision
  • Take action to make it happen

I’m taking his formula and using it as a motivational tool.  If it is your goal to get your finances into better shape, start by:

  • Accepting and acknowledging your problem. This is the first step on the road to financial recovery
  • Creating a vision must be based on reality to result in practical action.  Envisioning practical opportunities such as paying bills on time to avoid interest and fees, avoiding cash advance loans or identifying “wants” versus “needs” to cut back or eliminate some expenses are examples of creating a practical vision.
  • Taking action to make it happen requires patience and envisioning success.

Be kind to yourself

So, don’t beat yourself up if you made some mistakes with money – forgive yourself.  Building wealth requires having the right information, planning and making good choices.  Educate yourself by taking small steps and using all the resources available.

Finally, when feeling blue, make a list of the things that you are grateful for.  Focusing on the positive can help reduce the stress of financial problems.  So can the color blue.  Blue is widely reported to have a soothing effect.  Try either visualizing this color or literally finding objects colored blue may help induce an experience of wholeness, peace or tranquility.

Thank you again for reading my blogs, playing the money-o games and downloading my ebook.  “Be not afraid of going slow; be only afraid of standing still.”  Chinese Wisdom

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Filed under wealth creation