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12 Inspirational Quotes To Help Accomplish Your Goals in 2018

2018 is coming up and many people are focusing on creating new goals in their life. Whether it is financial, physical, or emotional, this is the time of the year when people take stock of their life to determine what they want. While it’s important to set goals and have a clear vision for what you want to create, what’s even more important is having the right mindset and positive psychology to execute your plans. All too often when people are faced with hard times and adversity, they give up on their goals. What many people who give up fail to realize is that it is in the journey and the struggles where you are able to truly grow and discover who you are. Overcoming obstacles and challenges is what provides us the opportunity to become a better version of ourselves. So if you are looking to accomplish more in the New Year, here are some inspirational quotes and phrases you can read to help keep you motivated when you feel like giving up: Never let your head hang down. Never give up or sit down and grieve. Find another way. – Satchel Paige When the world says, “Give up,” ...

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Two Strategies that Professionals Can Adopt to Avoid Living From Paycheck to Paycheck

Many people now seem to believe that going to college, getting good grades, and securing a good job doesn’t necessarily translate into a life of financial freedom. Far too many professionals with good jobs are struggling with their finances and living paycheck to paycheck. In fact, you’ll be surprised that many professionals earning more than $250,000 actually struggling to get by financially. To start with, we need to acknowledge the basic expenses of food, shelter, clothing and taxes, which must be paid. The effective tax rate for someone earning $250,000 per annum is between 30% and 40%; hence, the actual take home pay for professionals is much lower than what is written on paper. Professionals need a room over their heads – we can realistically assume a mortgage of a house worth $1M at a 20% down payment and 4% interest rate. The USDA notes that it costs about $1,100 per month – multiplied by 12 months to feed a family of 4 as at June 2017. If we go ahead to factor other expenses such as student loan repayments, auto loans, private school for the kids, clothing, entertainment, and pets – the $250,000 per annum earnings doesn’t seem to ...

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Annual Goal Progress Report

end of year goals

It’s that time of the year again. No, not the holidays but time to check in on annual goal progress! My goals for this year were very basic and boring for the most part. Nevertheless, it’s time to check in and see how I did. Max out Health Savings Account and Employee Portion of Solo 401(k) Pass A couple of years ago, we converted our health savings account to Health Savings Administrators in order to invest that money in Vanguard funds. If you have access to a HSA and aren’t using the tax advantages available with these accounts, you really should try take advantage. In my opinion, this is the first account you should fund. Health savings accounts might be the the only investment option that never requires paying taxes on your income! I plan on maxing out the HSA out forever or until Anthem cancels our plan and I have to seek out alternative coverage.  For the other part of retirement savings, I chose to set up a solo 401(k) because of the large contribution amounts for self employed people. Anything that minimizes taxes and helps me reach retirement goals sooner is a win. I just maxed out the ...

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Goals to Hit Before the End of the Year

goals to finish the year

Like it or not, the last quarter of the year is upon us. I sound like my parents when I say that the older you get, the faster time goes, but it’s true. Even though we’re in the final stretch, there is still time to end 2015 without regrets. Here are possible goals to hit before the end of the year. Contribute to a Health Savings Account If you are eligible for a health savings account, make sure to get it established and funded before the end of the year. The triple tax savings on contributions, growth, and withdrawals is too good to pass up. If used for approved medical spending, HSA contributions might be the only money never subject to income taxes. Make Sure You’ve Taken Advantage of any 401(k) Match If your employer offers a 401(k) match, make sure to contribute enough to get those extra dollars. Even if you’re strapped financially, run the numbers before leaving money on the table. Contributions are pre-tax, so they might cost less than you think. If your employer doesn’t allow for changes in contribution amounts throughout the year or if you truly don’t have a penny to spare, use this as ...

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The Importance of Finishing Strong

finishing the race

Lots of people think getting started is the hardest part of any challenge, and I won’t disagree. Deciding to change, improve, or even cut back can all be difficult projects to initiate. Toxic or healthy, everyone enjoys having a comfort zone, and it’s hard to start any sort of project that throws off the routine. That being said, sometimes finishing strong is as important as getting started. Girls on the Run My daughter and I are doing Girls on the Run this fall. If you aren’t familiar, this program is for elementary school aged girls and offers group sessions about self esteem, determining and sticking to values, and ultimately, like Oprah says, being the best self you can be. After a girl power session, participants choose a daily distance goal and go running. The ultimate end goal is for all runners to complete a 5K  in November. My job is to be a running buddy, meaning I run along with the girls and pass down as much encouragement as possible. There are all kinds of girls in the program. Some are natural runners and others struggle. Regardless, all of them start practice in a mad dash like their tail feathers ...

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