Category: Financial Concepts

7 Blind Spots of Financial Advisors

Even a seasoned financial advisor can be vulnerable to certain blind spots within the field, what matters is recognizing and learning from these blind spots. Here we have gathered a list of the seven major areas in which advisors can falter, to save you from the same oversights. 1. Forgetting Time Value of Money As an advisor, the time value of money must be applied to every calculation, and any calculation that does not take this into account is not accurate. Every dollar has a value that increases over time,

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Is It Better to Rent A Home Or Buy?

In this article, I am going to tell you something you already know or may think you fully understand.  It starts with this question—is it better to rent a home or buy?  The overwhelming response to that question seems to be that it is better to purchase a house instead of renting one. Although I’m sure you answered that it is better to purchase a home, I am going to use Truth Concepts calculators to prove it to you. Don’t stop reading because you think you know it all.  Stick

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Why You Shouldn’t Retire, You Should Retool (John & Jane Jones Pt. 8 of 9)

“I am ready to retire,”  John was quick to state at the beginning of our annual meeting. There were several things I wanted to talk to John and Jane Jones about this year since they would be soon turning 60.  But when I heard John say this, my plans for the meeting took a back seat. “Are you serious?”  I asked John.  “Do you think you are ready to retire?” “I have no idea,”  John answered.  “I am making nearly $185,000 a year, which is a lot more than what

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How $155 in Credit Card Debt Becomes $38,850 In Payments! (John & Jane Jones Pt. 1 of 9)

In the movie Mr. Mom, Jack (Michael Keaton) is fired from his job as an automobile engineer.  Jack’s wife, Caroline (Teri Garr) lands a job before he can, so Jack takes on what he believes is the easy job of homemaker and caretaker. The movie has many humorous scenes. One particular scene Caroline’s boss comes to pick her up for a business trip.  Jack does not want to come across as some helpless person so quickly gets in work clothes and comes into the house carrying a chainsaw.  He asks

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Clarifying Mortgage Interest Deductibility

On a mastermind call with Summit attendees a few months ago, Kim Butler asked Todd Langford to share about some misconceptions about mortgage interest deductibility, and the truth of the matter. We had this portion of the call transcribed and thought it might be helpful to you, too! Kim:  Todd is going to share a little bit about the deductibility of mortgage interest discussion that comes up almost every Truth Training. There’s really no way to show this in the form of a calculator but it is a very valuable

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