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Articles from Justin Krane | Selfgrowth.com
- Your Investment Portfolio and Risk - by Submitted on Aug 24, 2012 from Justin KraneManage Your Investment Portfolio Like Goldilocks Yep, I’m going with the Goldilocks tale to talk about your investment portfolio. Not too hot and not too cold. Goldilocks wants her porridge just right. So you have your portfolio and you’re trying to grow it but not lose it. Too hot is ...
Views: 1327(1 vote) - Money Doesn't Always Buy Happiness - by Submitted on Jun 22, 2011 from Justin KraneI rarely share stories I get via email but this one really touched me. It's one we should all remember when it comes to our lives and money. A man came home from work late, tired and irritated, to find his 5-year old son waiting for him at the door. "Daddy, may I ask you a ...
Views: 874(1 vote) - Become a High Performer - by Submitted on Dec 18, 2012 from Justin KraneWhat's Your Risk Tolerance Are you a high performer like Mia Hamm, Kobe Bryant or Roger Federer? What’s up with these 3? They bring it every time. They don’t go through peaks and troughs. They have sustained high performance, and that’s what makes them champions. They make being a high ...
Views: 1048(2 votes) - Behavioral Finance – Part 1 - by Submitted on Jul 25, 2011 from Justin KraneBehavioral finance examines the psychological aspects about how we make decisions about money. This is part one where we will examine two theories of behavioral finance and how it effects our financial decisions. Hopefully, you'll have a better understanding of which and how these theories ...
Views: 1238(2 votes) - Behavioral Finance – Part 2 - by Submitted on Jul 22, 2011 from Justin KraneBehavioral finance is a type of finance that examines the psychological aspects about how we make decisions about money. This is part two where we will examine two more theories of behavioral finance and how it effects our financial decisions. The first one is called “anchoring bias” and to ...
Views: 1427(2 votes) - Can You Get In On the Facebook IPO? - by Submitted on Dec 21, 2011 from Justin KraneThe Facebook IPO Is Coming Soon But How Public Is It Really? You love Facebook. You believe in it. You want a piece of it. So you want to get in on the Facebook IPO. But to do that, you have to be an “accredited investor,” meaning that your net worth needs to be above $1 million, your annual ...
Views: 1456(1 vote) - Credit Unions vs. Banks - by Submitted on Feb 08, 2013 from Justin KraneCredit unions have their perks. Monopoly. Loved it. Did you love being the banker? The one with the big wad of cash? Those were the good old days when it was cool to be the bank. Today, it ain’t so cool to be the bank. Why? * All of the pens at the bank that you use to fill out the ...
Views: 991(2 votes) - Do You Need to Hire an Employee? - by Submitted on Dec 21, 2011 from Justin KraneYou are swamped. You are 2 days behind on your emails at work. You have a presentation in 3 days that you haven’t even started. Client meetings that you haven’t prepared for. Your nanny just called in sick and you are scrambling to find coverage. Things are falling through the cracks. You are ...
Views: 909(1 vote) - Increase Your Net Profit - by Submitted on Oct 19, 2012 from Justin KraneConfused about why your gross profit is high but your net profit is low? When the ladies get them they look real. But when guys get spray tans they look like Magda’s twin brother from the movie “There’s Something About Mary.” Spray tans last about 7 to 12 days. So if you are into this stuff, ...
Views: 819(2 votes) - Upgrade Your Business Model - by Submitted on Oct 31, 2012 from Justin KraneIs Your Business Model Generating More Money or More Stress? Business model, shmizz-ness model. I used to poo poo this term until I started studying how successful entrepreneurs think and really strategize their businesses. Your business model is basically how your business makes money. For ...
Views: 843(2 votes) - What's Your Risk Tolerance - by Submitted on Dec 18, 2012 from Justin KraneYour portfolio is about risk tolerance We all want to make money when we invest. We start out investing as long term investors and think we can ride out the crazy stock market. Sometimes we think we are more aggressive risk takers than we actually are. We are prepared to take risk and make ...
Views: 732(2 votes) - Your Financial Life for 2013 - by Submitted on Dec 18, 2012 from Justin KraneMore of the same equals more of the same. You want a different financial life for 2013? Shake it up a bit. Shake that booty. Stir the pot. Seriously, let’s get this pahtay started right now, Pirate’s Booty style. Check that. Gangnam style. Different actions could yield different ...
Views: 740(2 votes) - Crazy Busy? Got Time Management? - by Submitted on Sep 12, 2012 from Justin KraneSolid time management skills will make your life much easier. Me: Hey how are you doing? How are things? Joe: Great. I am soooo busy. Crazy busy. Where does all of the time go? Me: How’s business? Joe: I’m doing really well. Just got back from New York. I have tons of things ...
Views: 862(3 votes) - Investors – Grow Your Portfolio - by Submitted on Aug 06, 2012 from Justin KraneInvestors is your portfolio growing or withering? It’s crazy. It’s wild. And it’s the real deal. And it’s not my big hair. It’s why some investors can’t make even 5% on their money per year over a 20 year period to grow their portfolio. Dalbar, a market research firm that focuses on the ...
Views: 1309(2 votes) - Pay Down Debt or Invest In Your Biz? - by Submitted on Apr 09, 2013 from Justin KraneYou want to pay down your debt. But you’ve been making the same money for the past 2 years. You know that something has to change. Or it’s just going to be same sh** different day. You totally want to upgrade your website, hire an employee, get a MacBook Pro, and invest in social media. ...
Views: 727(4 votes) - Establish Business Credit in 2013 - by Submitted on Dec 21, 2012 from Justin KraneBusiness credit diversifies your borrowing options and sometimes your liability. 2013. You want an edge, right? How about making smart decisions? Choices that will create the type of success you want for your biz. The thing is, it's hard to make a decision about something that you don't ...
Views: 1128(1 vote) - Give Them That Wow Factor - by Submitted on Jul 23, 2012 from Justin KraneIt’s a giant trampoline with a basketball hoop inside of it. I had no idea how much my kids would love that trampoline. They are on that thing every time they are at my parents’ house. This trampoline is a kid magnet. They never get bored with it. Once they go in, they stay in forever. Why? ...
Views: 1217(1 vote) - Inflation vs. You – Who Wins? - by Submitted on May 22, 2012 from Justin Krane“Inflation is when you pay fifteen dollars for a ten-dollar haircut you used to get for five dollars when you had hair.” -Sam Ewing Remember when it used to cost $5 to go to the movies? How about gas prices at $2 a gallon? A stamp was 20 cents? Every year prices rise and things cost more ...
Views: 859(1 vote) - Job Growth Is Good For Business - by Submitted on May 21, 2013 from Justin KraneJob Growth Means Money in More People’s Pockets What’s going on with all of the jewelry buying at malls? Are they giving this stuff away for free? Why are there more customers in these stores? And where are they getting the cash? First off, it’s affordable. But moreover, it’s the fact ...
Views: 927(1 vote) - The Art of Working with a Bookkeeper - by Submitted on Oct 16, 2011 from Justin KraneYou have made the decision to hire a bookkeeper. Congratulations because now you will have more time to focus on making more money in your business. So let's make sure you get your money's worth! Here are 7 things you should do when you start working with a bookkeeper. 1. Share Your ...
Views: 1310(1 vote) - The Dust Settles Around Facebook - by Submitted on Aug 10, 2012 from Justin KraneDid you buy Facebook at $38 when it came public? Let’s talk about Facebook the stock. It’s now at $21.05. In other words, it’s down $17 or 44%. Facebook has almost one billion people on their site yet the stock went down. What happened here? Why has the stock gone down and what can you learn ...
Views: 934(1 vote) - Did the Poof the Magic Meister Getcha? - by Submitted on Sep 17, 2013 from Justin KraneWhere did all of the money go? I hear it all of the time! My clients tell me – Justin: “It comes in . . . and then “poof, it’s gone!” Poof, the magic meister could getcha every time. You feel like you are making decent money, but when you look at your profit, the money is gone. Poof took it to ...
Views: 1100(1 vote) - Did You Buy Real Estate As a Kid? - by Submitted on Sep 17, 2013 from Justin KraneReal Estate Can Help You Build Wealth Remember playing the game Monopoly? You had all of the cash. You were raking in the dough. You bought real estate . . . and you built houses. You were killin’ it! People would land on your properties and they would have to pay you rent. Cash money ...
Views: 1505(1 vote) - Do Your Taxes Have Bad Breath? - by Submitted on Sep 17, 2013 from Justin KraneYour taxes only end up stinking if you put them off till the last minute. You are trying to back away from them but their stank is just ridic? They have no idea how bad their breath is! Especially when they eat the onion bagel with lox cream cheese! You’ll do anything to avoid their ...
Views: 1530(1 vote) - Does Money = Happiness - by Submitted on Sep 17, 2013 from Justin KraneYour peace of mind. Your happiness. Your return on life. How much does all of this stuff cost? Can you buy it at Whole Foods or Trader Joes? Can you get a deal online at Amazon? It’s not about the money. Or is it about the money? Gallup, the American Institute of Public Opinion, did a ...
Views: 1161(1 vote) - Gain Leverage in Your Business - by Submitted on Sep 17, 2013 from Justin KraneLeverage. One of the biggest words you need to focus on in business. It’s about getting the best bang for your buck – or your best use of your time. Think about how Justin Bieber used leverage to become so popular and successful. His mother uploaded his videos to You Tube. Anyone could watch ...
Views: 1051(1 vote) - How Many Times Do You Hit Snooze? - by Submitted on Sep 17, 2013 from Justin KraneThe snooze button! It’s your early morning friend – or foe – depending on how it sets you up for your day. For some of us, it’s that annoying sound that goes off in the morning. (Who here gets major bedhead?) Just hitting the snooze button requires a major amount of sheer energy! Once we do ...
Views: 1166(1 vote) - I Didn’t Know You Do That! - by Submitted on Sep 17, 2013 from Justin KraneWhen it comes to your business, make sure you show all your cards. It’s come down to this. Where have all my pillowcases gone? Anyone else lose pillowcases, or just socks? I had been dreading the day that I would have to set foot in a Bed Bath & Beyond (BBB) store (they were all out of ...
Views: 1000(1 vote) - Use Your Marketing Dollars Wisely - by Submitted on Sep 17, 2013 from Justin KraneDon’t let your marketing dollars get stuck in the vending machine. It happens to everyone. It’s like a rite of passage. You go to the vending machine to buy your raisinets and get your major chocolate fix. You put your money in the machine but your candy gets stuck. You’re bummed out. You ...
Views: 992(1 vote) - What Is Yoda’s Retirement Plan? - by Submitted on Sep 17, 2013 from Justin KraneRemember Yoda? The short little bald guy in Star Wars? He lived for 900 years! What did that guy eat for breakfast? Wheaties? Kale? Thin Mint Girl Scout Cookies? He must’ve had great jeans (levi’s, true religion, 7 for all mankind). He also probably meditated, exercised, and took some serious ...
Views: 1655(1 vote) - Whole Life Insurance - by Submitted on Jul 31, 2012 from Justin KraneMany business owners poo-poo whole life insurance because they say it’s too expensive. Instead, they say buy term insurance (which is cheaper) and invest the rest. But the thing is, most people don’t end up investing the rest. So the money ends up going to other things. But for some business ...
Views: 1158(1 vote) - 4 Mistakes Entrepreneurs Make With Retirement Planning - by Submitted on Sep 11, 2011 from Justin KraneHere are four common mistakes entrepreneurs make when it comes to retirement planning. Start now and you can avoid and/or correct these pitfalls. Mistake #1: You plan on selling your business in the year you want to retire. Then you will take that money and live off it. But what happens if ...
Views: 965 - 4 Year CD Goldman Sachs Style - by Submitted on Feb 03, 2012 from Justin KraneNew 4 Year CD Tied To DJ Industrial. Will Wall Street Ever Learn? Check this out. Goldman Sachs is selling a 4 year CD that is linked to the Dow Jones Industrial Average. Another product designed by Wall St. to be sold rather than bought by investors. This 4 year CD is FDIC insured and ...
Views: 1077 - A 401k for Your Employees? - by Submitted on Jun 04, 2012 from Justin KraneThis July, 401k participants will receive more disclosures about the fees they are paying inside their 401k plans. The Department of Labor wants more transparency and more disclosure on what kind of fees employees are paying inside their 401ks. Why? Because many employees have no idea how ...
Views: 1391 - A Laddered Bond Portfolio Can Reduce Nausea - by Submitted on Nov 01, 2011 from Justin KraneBill Gross is the bond king. He manages the largest actively managed bond fund called Pimco Total Return, with $240 billion in assets. This is one of the first years in a long time that he has underperformed his benchmark. From Jan 1, 2001 through 9/30/2011, his fund is up 1.90%, vs. his ...
Views: 1049 - Business Insurance for Natural Disasters - by Submitted on Mar 09, 2012 from Justin KraneDon't Wait for Disaster to Hit. Business Insurance is a Must for Every Business. You think it will never happen until it happens to you. That's exactly what happened to small businesses in five states this week. More than 150 tornadoes devastated people's homes and personal lives as well as ...
Views: 767 - Charitable Giving and Your Personal Finances - by Submitted on May 24, 2011 from Justin KranePhilanthropy is Full-Anthropy Has anyone ever asked you what you would do if you had all of the money in the world? Most commonly, people respond with, "I'd buy a bigger house or travel." This is often followed by, "I'd donate more money to charity." People who are charitably inclined ...
Views: 577 - Correlation and Your Portfolio - by Submitted on May 18, 2012 from Justin KraneWhat Is Correlation and How It Effects Your Portfolio You just got on the freeway and are going 65 miles per hour. All of a sudden you hit some traffic. You’re now driving 10 miles per hour and you decide to change lanes. Whoops – bad move. The lane you change into slows down, and the lane ...
Views: 875 - Do You Have Business Liability Insurance? - by Submitted on Jun 29, 2012 from Justin KraneBusiness liability insurance isn’t a luxury. It’s a necessity, unless you like lawsuits. You’re a physical therapist with your own business. You’re crushing it in your biz and then boom! Out of nowhere, one of your old clients sends you a letter and is suing you. Oh man! He’s suing you ...
Views: 953 - Financial Independence - by Submitted on Jul 10, 2012 from Justin KraneHow about some fireworks for our financial independence? We just celebrated our country’s independence. During the fireworks show, I got the chills listening to everyone celebrate and cheer for our country. It’s a great feeling, right? Now let me ask you this. When is the last time you ...
Views: 875 - Financial Planning For Special Needs Children - by Submitted on Jun 09, 2011 from Justin KraneEach time my kids achieve something for the first time that they have been trying to do for a while, they become proud of themselves and gain confidence. Whether it's tying their shoes or writing their names for the very first time, they see that they can overcome an obstacle and succeed at ...
Views: 613 - Get Out of Credit Card Debt - by Submitted on Feb 03, 2012 from Justin KraneCredit Card Debt Traps Less U.S. Consumers CreditKarma.com has reported that consumers cut their credit card debt by 11%! The average credit card balance for 2011 was $6576, compared to $7404 in 2010. This is good stuff! The way we get into credit card debt in the first place is by ...
Views: 1007 - Get What You Want With Your Personal Finances - by Submitted on Jun 18, 2011 from Justin KraneLearn from the Weight Watchers program: 6 Ways to Get What You Want With Your Personal Finances 1. The point system keeps you in check and provides flexibility. You can eat some foods that you love just as long as you don't go over the allotted points per day. Develop a saving and spending ...
Views: 513 - Getting a Business Loan - by Submitted on Mar 09, 2012 from Justin KraneBefore You Apply For That Business Loan . . . The landscape certainly has changed for small businesses when it comes to getting a business loan. What used to be green terrain has become pretty barren and bleak. In fact, having access to capital is one of the biggest issues for small business ...
Views: 789 - Hiring Employees: 4 Things for Your Must-Do List - by Submitted on Mar 05, 2012 from Justin KraneHiring employees? Do it the right way. You can’t build an empire all by yourself. You know that. You know you can’t wear all the hats because you’d drive yourself crazy trying to grow your business. So chances are, you’re hiring employees. Here are 4 things to put on your must-do list when ...
Views: 784 - How Bonds Work - by Submitted on May 26, 2011 from Justin Krane9 Key Points to Better Understand Bonds Out of all of the investment conversations I have with my clients, it seems that most of them don’t understand what bonds are and how they could fit into their portfolio. Do You “Get” Bonds? 1. A bond is debt. When you buy a bond, you lend your ...
Views: 548 - Invest in Your Business or Retirement? - by Submitted on Feb 03, 2012 from Justin KraneWhether To Invest in Your Business or Retirement. It’s Not an Either-Or. I get this question all the time from business owners about where to invest. Should you invest in your business or should you invest in an IRA for retirement? My simple shpiel? You have to do both. Then I hear ...
Views: 804 - Is a Roth IRA Conversion for You? - by Submitted on Sep 11, 2011 from Justin KraneWhen people ask for suggestions on financial planning opportunities, I tell them two words. Roth IRA. How great would it be if you didn't have to pay taxes when you take distributions from your retirement account when you retire? Maybe you could retire earlier! Or you may be able to save ...
Views: 873 - Know Your Competition - by Submitted on Jun 01, 2012 from Justin KraneMake no mistake. Your competition is spying on you. Wait, let me clarify that. Your smart competition is spying on you. They are trying to be different from you and everyone else. Your competition is adopting their own “Blue Ocean Strategy”(great book) in how they really separate themselves ...
Views: 1153 - Let’s Hug It Out With Bonds - by Submitted on May 24, 2011 from Justin Krane4 Reasons Why Bonds May Fit In Your Portfolio We’re going to take a peek at how bonds could fit into your portfolio and why you would want to buy them. 1. Your portfolio lost over 30% in 2008. You are approaching retirement and you don’t have the earnings power to make up huge losses ...
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