This week’s top reads are all about how to avoid mistakes and minimize uncertainty. In the personal finance section, Philip Detlefs shares common investment mistakes, Travis Shepherd helps us get excited about retirement by creating a detailed plan, and Christine Benz gives us a calendar breakdown of what tax-code changes to expect in 2019.
In the personal interest section, John Boitnott works through the six most common mistakes made by entrepreneurs and Matthew Baker encourages us to revisit our business plan if the future scares us.
If you’ve ever become upset after hearing about a peer’s investment returns, this article is for you! Philip Detlefs reminds us that when we speak to others about their investments, or watch the markets on the news, we are in danger of making decisions based on our emotions that could cost us. It’s important to remember that when it comes to portfolio performance, we are comparing apples to oranges, as each individual has their own unique tolerance for risk and financial goals.
Ignore the noise that’s out there — especially if it’s coming from a neighbor or your brother-in-law. Stay focused on your own goals and determine your own measures of success.
Detlefs shares suggestions on avoiding making emotional mistakes, changing our perspective, staying focused on our goals, and judging our own returns.
For the full article, click here.
Transitioning into the retirement stage of your life can be daunting if you don’t have a plan to guide you through that change. Travis Shepherd has created a list of things to consider when planning for retirement, to move your thoughts from uncertainty to excitement for this new journey.
With a clear vision of retirement in mind, you can better describe what you want out of your retirement.
For the five fundamentals of retirement planning, read the full article here.
With 2018 came unsettling tax-code changes that will have an impact on your tax return, as we saw the end of personal exemptions and increased standard deduction amounts.
In 2019 we will experience more subtle, evolutionary changes to account for inflation. Christine Benz of Morningstar shares a calendar of information about what to expect this year. For a detailed breakdown, read the full article here.
If you are in the throes of running your new business, you are likely putting in very long days with little time for reflection. In this article, John Boitnott provides a rundown of the six most common mistakes made by entrepreneurs and how to avoid them.
Among his list:
- Blundering Into IP Disputes
- Overestimating Your Own Capabilities
- Missing Your Moment
- Cutting the Wrong Costs
- Forgetting About the Rest of Your Life
- Striving to Be All Things to All People
For all the details and what to do instead of making these mistakes, read the full article here.
When you started your company, did you create a detailed business plan? If the thought of what your business will look like in five years scares you, it may be time to revisit your plan.
Matthew Baker of FreshBooks is the Vice-President of Strategic Planning and in this article he shares advice that you can put into practice and put your business on a path to growth, ultimately increasing your career satisfaction.
Many people start a small business without a clear vision of what they want to accomplish. They just know they’re good at what they do and they want to work for themselves.
For the full article, click here.