The weekly video is posted out at the average guy site: http://theaverageguy.tv/ft030 Go check it out, it’s less than 15 minutes!
Wednesday, June 5, 2013
Wednesday, May 22, 2013
University of Michigan’s Consumer Sentiment Survey and Phenomenon Called Heuristics – Guide Rock Weekly Video Market Commentary May-20
Thursday, May 16, 2013
Sell in May and Go Away and Where Will You Live When You Retire? Guide Rock Weekly Video Market Commentary May-13
Friday, May 10, 2013
http://theaverageguy.tv/ft0267 Go check it out, it’s less than 15 minutes!
Friday, May 3, 2013
AP Twitter Hacked and Markets Move, Who Owns all the Gold? – Guide Rock Weekly Market Commentary Apr-29
http://theaverageguy.tv/ft026 Go check it out, it’s less than 15 minutes!
Friday, April 26, 2013
http://theaverageguy.tv/ft025 Go check it out, it’s less than 15 minutes!
Friday, April 19, 2013
The weekly video is posted out at the average guy site:
http://theaverageguy.tv/ft024 Go check it out, it’s less than 15 minutes!
Thursday, April 11, 2013
http://theaverageguy.tv/ft023 Go check it out, it’s less than 15 minutes!
Tuesday, April 9, 2013
Markets Finish the Quarter Positive and How Fast Should the Economy be Growing? –Guide Rock Weekly Video Commentary April 1
http://theaverageguy.tv/ft022 Go check it out, it’s less than 15 minutes!
Thursday, March 21, 2013
The weekly video is posted out at the average guy site:
http://theaverageguy.tv/ft021 Go check it out!
Wednesday, March 13, 2013
Tuesday, March 5, 2013
http://theaverageguy.tv/ft019 Go check it out!
Friday, March 1, 2013
http://theaverageguy.tv/ft018 Go check it out!
Tuesday, February 12, 2013
The weekly video is posted out at the average guy site: http://theaverageguy.tv/2013/02/11/feb-11-weekly-market-commentary-from-guide-rock-capital-ft016/ Go check it out!
Friday, February 1, 2013
Wednesday, January 23, 2013
The weekly video is posted out at the average guy site: http://theaverageguy.tv/2013/01/22/jan-22-weekly-market-commentary-from-guide-rock-capital-ft014/
Go check it out!
Friday, January 18, 2013
There are really only three things you can save for: emergencies, major purchases, and wealth building. Throughout the year I have had conversations with all kinds of people and one thing I have found is that fundamentally, everyone has the same questions. When it comes to saving, the frequent question is “How do I know what to save at this stage of my life.” That’s a great question! After all, you have an infinite number of things you can spend on and save for, but a finite amount of income to allocate.
Here is how I would break out my savings by importance:
There are only a few things in life that you can count on for sure, things like, you know… death and taxes. You can also count on the fact that financial emergencies are going to come up – I don’t care who you are, eventually you are going to need to pay for something that was unexpected. This is the first thing you must save for. I call it an Emergency fund. You might call it a “Rainy Day Fund” or the “Hell and High Water Account”.
What ever you call it, you just need to have it!
So how much should you save for emergencies? A minimum of $1000. If you do not have a $1000 emergency fund right now, you need to go sell some stuff, or mow a bunch of lawns, or shovel a bunch of driveways to get it by the end of the month. I’m serious. A thousand dollars will be enough to cover most minor emergencies, but it won’t be enough for the big stuff like a job loss or injury. Your ultimate goal should be to have 3-6 months worth of household expenses set aside in the fund. Here is the other thing; you really need to have this account separate from your usual deposit account. If you have all your money in one place, you might have some temptation to use it for a 30% off sale at your favorite department store. Remove the temptation, create an imaginary barrier by holding your emergency fund in a different account.
Life is expensive. Washers and dryers, a furnace and air conditioning unit, a roof, a car… If one of these breaks down, it makes for a bad day, maybe even a bad week. It can even feel worse if you haven’t been saving to replace the major appliance (especially if you don’t have an emergency fund, see above). I suggest saving for major purchases along the way. For example, if you own a home it is only a matter of time before something will need to be replaced or repaired. I suggest saving 1.5% of the value of your home each year for those expenses. Set it aside at the same time you make your mortgage payment each month. If you have a $250,000 house, save $3750 each year or $312 a month.
Wealth building and retirement saving is third on my list. You really can’t focus on investing if you don’t already have emergencies and major purchases covered. You want to be able to have confidence and flexibility when you start to tie money up in investments – if you are worried about what you would do if something breaks at home, you really won’t be able to have the fortitude to execute in the wealth building arena. Your goal should be to save 16% of your gross income (before tax income) for retirement. That’s a pretty big number, but it is a goal. Here is how you can achieve it: Start with something more modest like 8% of your gross income.Then each year raise your contribution by 1%. You probably wont even notice the increase from year to year and before you know it, you will hit your goal!
Here is the deal guys. I know some of you are reading this and saying: “Yea, Andrew, that would be nice, but I don’t have any extra to save.”
I don’t believe you. You should really be saying “Yea, Andrew, that would be nice, but saving is not a priority for me.” HELLO! The only way you will do any of this is if you make the decision that you no longer want to live in crisis any more. You have to choose to do what it takes to move from doing what you have always done to doing what you wish you could do. If you establish an emergency fund, it will change your life. If you build wealth, you will change your family’s life. Only you can choose to take this path.
As my high school swim coach used to say: No Excuses, Just Results.
Thursday, January 17, 2013
Hi guys! The Financial Tech podcast with Jim Collison is back. Go check it out at TheAverageGuy.tv and watch it in the browser or download it. We will be doing a live market commentary each Tuesday at 7:00pm cst, you can watch at TheAverageGuy.tv/live.
Hey guys! The Financial Tech podcast is back with Jim Collison on theAverageGuy.tv go check it out at:
We will be doing a weekly market commentary every Tuesday night live at 7:00pm cst if you want to watch go to: theaverageguy.tv/live
Thursday, January 10, 2013
1. Increase your retirement contribution by at least 1%
2. Set up a Holiday Savings Account and contribute to it monthly for next year’s gift giving expenses.
3. Save 1.5% of the value of your home this year for up-keep expenses.
4. Set up a time (and put it on your calendar) each week to meet with your significant other to review your budget.
5. Emergency fund – don’t have one? Get one. ($1,000 minimum)
6. Pay off your credit card in 2013.
7. Switch to a 15 year mortgage.
8. Make sure you have disability insurance.
9. Track your progress with Mint.com
10. Avoid bank fees by making a switch to a local credit union.
11. Open a Roth IRA.
12. Save $20 a week (that will add up to over $1000) for a vacation and then take one.
13. Write a Will.
Monday, April 2, 2012
What’s the latest happenings for Guide Rock and GFCU?
We have a learning series
March 30th is our 3 class of 10
Investment focused – entry level
Tackle one topic each session
Focus on an environment where questions are encouraged
You are welcome to come, just rsvp to Andrew_hunt@guiderockcapital.com so I know how many bagels to buy!
How do you know if an advisor or if a 401(k) plan is what they say they are?
You can look on the sec… but that is kind of cumbersome.
You can just trust that they are telling the truth.
Or there are a few companies that are emerging and trying to cast some clearer light on the issue
BrightScope is one of these – They rate 401(k), Give information on Advisors and firms
Another level of transparency
Free to consumers
Money Desk Top
New in April for our members
Cloud based financial account aggregator and budgeting tool
Integrates with GFCU and our on-line banking system
Neat new alternative others such as Mint.com
Jim’s Twitter: http://twitter.com/#!/jcollison
Andrew’s Twitter: http://twitter.com/#!/AndrewDHunt
Andrew’s Blog: http://gallupfcu.blogspot.com
Contact the show at firstname.lastname@example.org
Find this and other great Podcasts from the Average Guy Network at http://theaverageguy.tv
Visit the new Facebook page for the The Average Guy Network
Intro and Exit Music from “Motion” by Adelaide. Hear more great tunes at Listentoadelaide.com
Monday, February 20, 2012
Dan Taylor faced a precarious situation after his father suffered from a stroke at age 72 and couldn’t live alone. Dan was responsible for looking after him and had no idea how to proceed. He was overwhelmed by the plethora of options and was determined to find a place where his father “would be treated with dignity and respect.”
His experience inspired him to write The Parent Care Conversation, a book that helps parents and their children converse meaningfully about long-term care issues they may face in the future. It includes strategies for handling six key challenges one must confront when dealing with aging parents: money, property, house, professional care, legacy, and the “Big Picture.”
Taylor notes the house conversation can be extremely emotional. The objective is to get a fix on how your parents feel about their ability to keep living where they are now. For example, is their home already a physical or financial burden? Do they see it becoming one?
If so, what is the preferred next step? Staying, but with help, or selling and moving? And, if the latter, to where: a smaller home, retirement community, or perhaps an assisted-living facility?
The property conversation, which deals with personal possessions, also poses interesting choices and boils down to these three: Make a will or create a trust for disposing of the property after they’re gone; start giving it away now; or do nothing.
Most people resort to the third choice. “As parents, doing something — whether it is choice one or two or a combination of both — is tough physically, mentally, and emotionally. The default option of doing nothing is the easier route for everybody, at least in the short run. But, in the long run, it is the hardest and most painful for all concerned,” says Taylor.
“However extreme or overboard some of their concerns and anxieties may seem to you, don’t minimize or dismiss them. To your parents, these worries are substantial and very real. Your role is to help them transform these challenges into a set of realistic possibilities for achieving a positive experience,” he adds.
This is a book about how to make plans with some of the most important people in your life – your parents. It’s about having the important conversation.
The above material was prepared by Peak Advisor Alliance.
Monday, January 30, 2012
Like it or not, we’re all involved in running the “family business.” We worry that our parents might outlive their retirement savings. We’re comforted by the thought that family members would probably bail us out if we got into money trouble. We strive to help our children financially, and we’d like to bequeath them at least part of our nest egg.
In short, our family is our asset, liability, and legacy. Now here’s the contention: It’s time to build this notion into the way we manage our money.
Here are just some of the reasons why:
Raising Children: If your children grow up to be financial deadbeats, you may likely rise to the rescue. Indeed, your children could turn out to be your greatest financial liability.
Don’t want your adult children swimming in credit card debt, missing mortgage payments, and constantly asking you for money? Your best bet is to make sure problems never arise by raising money-savvy children.
That’s trickier than it seems. Children grow up spending their parent’s money, so it’s almost inevitable that they will have a skewed financial outlook. After all, for children, all purchases are free, so why should they fret about the price tag or control their desires?
Make your children feel like they’re spending their own money. Give them a candy allowance when they are younger and a clothing allowance when they are teenagers, and insist they live within this budget. This way, instead of you constantly saying “no” to your children, they will learn to say “no” to themselves.
Launching Adults: Once your children get into the work force, you want them to get into the “virtuous financial cycle” where they are steadily building wealth.
They will become able to own their home rather than renting, buy their cars rather than leasing, fully fund their 401(k) plan and their individual retirement accounts each year, and never carry a credit card balance.
The sooner your 20-something children get into this virtuous cycle, the easier it will be for them to meet their goals and less of a financial drain on you. To that end, encourage your children with your words and with your fine example.
A few financial incentives may also help. Tell your adult children if they scrounge together a house payment, you will lock in some additional dollars, or offer to subsidize their 401k contribution at 50 cents on the dollar.
This doesn’t mean you intend to fund their retirement instead of your own, but getting them started as investors sure seems like a smart idea.
The above material was prepared by Peak Advisor Alliance.
Monday, January 16, 2012
Maybe it’s just me, but just after “the most wonderful time of the year” is my favorite time of year. I love the start of the new year and all of the passion and resolve that it brings. I have been especially busy these first few weeks of January simply because I have soo many new things I am researching and implementing. I have overheard several conversations during the last few days where people are talking about their new fitness goals or new resolutions to make positive impacts on their financial situation – and I have to admit that the latter statement really made my ears perk up.
What is it about the first week of January that makes us feel all warm and inspired? Why do we feel the need to make changes simply because a date changed? I have a theory that I think holds true in my life and maybe for your too:
I crave improvement
I think I might be an improvement addict. It doesn’t matter how marginal the improvement is, I love it. I even love just thinking about it. That might give some of you a little insight to who I am as a person but the truth is there. I think at the end of the day the reason I love the afterglow of the holidays is simply because I can see what we did, measure it, and think about ways to improve next year.
Does that hold true for you? Why do you chose to make resolutions or goals around the first of the year?
Thursday, December 29, 2011
If you have been reading this blog for any amount of time you already know that I am a big fan of setting goals and resolutions (it turns out that a lot of successful people do it too). With the end of the year approaching, what a better time than now to start making some 2012 resolutions? Here, I’ll start you off with a suggestion!
Stop lying to yourself about money.
Yep, I said it. You lie about money…a lot. Wanna know how I know?
1. You create ridiculously unrealistic budgets.
2. You think bad (and expensive) stuff won’t happen to you.
3. You project (to yourself) that you make more than you do.
4. You spend money before you have it.
5. You use a credit card to get “rewards”.
6. You took out a 30 year mortgage and are “going pay it like a 15 year”.
7. You lease a car because it is a “good deal” and a small business “tax write off”.
8. You deserve a $5000 vacation.
Sorry, I got on a little soap box there for a minute.
Here is the deal, I often write about things that I am thinking about for me personally. So if you felt like I just hit on something you do - it turns out, so do I on occasion. Actually, I think I can say with some certainty that we all do it from time to time.
So let’s make a resolution in 2012 when I think about money I am going to be honest with myself. When I make a money mistake, I am going to admit that it was an error and I am going to avoid it in the future. I vow to be an armed consumer who doesn’t fall for gimmicks and most of all… I am going to stop making excuses and start creating results.