Gen One Legacy

Have you ever made an impulsive big-ticket purchase that you later regretted?  Or, maybe you have found yourself making choices with your money that seem out of alignment with your overall life or financial goals?  If so, then you're likely familiar with the effects of your money script.   So, what is a money script?   Well, a money script is often unconscious beliefs about money, rooted in e...

Most individuals can't stand preparing their taxes. It's often a complex, confusing process that leaves many fearing the dreaded audit from the IRS. And according to the latest data from the IRS, 1.8% of tax filers with reported total positive income between $1 and $5 million received an audit letter from the IRS in 2021. While this number seems low, it certainly is higher than your chan...

To say that 2022 was a disappointing year for investors is an understatement.  US stocks gave up more gains to close the year than they have since the height of the Global Financial Crisis.   And even bonds, which tend to move higher when stocks fall, saw their worst declines in decades in 2022.  And while some investors sought out cash as a haven of sorts, double-digit inflation and a rising cost...

Christmas is just around the corner, and if you're like many investors, then you likely have a year-end rally on your wish list.  If this is you, then you're probably in luck because history has shown that a so-called Santa Claus rally could be in the making in the weeks ahead.  However, in today’s episode we’re going to talk about why you shouldn’t be fooled by the Santa Claus rally. No...

October was supposed to be another setup for market disappointment that never came.  In fact, risk assets in many parts of the US markets closed higher for the month and in some cases. snapped a multi-month losing streak. How were market predictions so wrong? In today’s episode, we discuss:  Expectations for the markets and economy  What actually happened And why predicting the future is so hard V...

After this months about-face in risk assets, it would seem that U.S. and global financial markets are on the brink of melting down.  September marks the 14-year anniversary of one of the most volatile periods during the Global Financial Crisis.  That’s why in today’s podcast, I’ll share my experience during that time, and cover: Why you should hold tight during periods of market and economic uncer...

By some measures, last Friday Fed Chair Jerome Powell derailed the fledgling bull market rally in U.S. and global risk assets. In eight short minutes, the central bank governor drove home the point that the Federal Reserve would do everything within its power to halt inflation, including bringing economic “pain” to U.S. households and businesses alike. For the markets, it was a halting realization...

Earlier this year, we wrote about the potential for two recessions in two years.   Now, it's unofficially official: we're in an economic recession for the second time in two years.    At least, that's according to government data published this week.     And this news comes from the Bureau of Economic Analysis' latest report last week, which showed that U.S. Gross Domestic Prod...

Inflation is on a lot of people’s minds right now.  And for good reason.  While we tend to hear about inflation in terms of percent changes in government reports, chances are, you’ve likely experienced its real effects in everything from higher prices at the grocery store, gas pump, restaurants, and utility bills.   Prices change all the time, so why should you care about inflation right now?  Wel...

With risk assets having pushed into bear market territory in May, some investors are asking whether now is the right time to get into the markets. On one side of this debate is a group of investors who look at the recent pullback as an opportunity to buy securities at a discount. On the other side is a set of investors concerned that prices will only move lower from here. Make no mistake, this que...

Most driven individuals on their path to financial independence mastery know that you need goals to get to the next stage in life.  And when it comes to money, many individuals have plans to increase their earnings ability, improve their lifestyle or save for long-term financial security.  Nevertheless, even the most ambitious individuals quite often find that their goals fail within weeks or mont...

Two recessions in two years.  Is it possible?  Well, calls for a U.S. recession have been on the rise recently following the Fed's decision to raise rates at its March FOMC meeting.  To be sure, given several factors already in play, it's possible that we could see an economic slowdown later this year or even early next year.   While some market watchers have suggested that policymakers...

Words seem to fail when attempting to describe the horrors of war currently faced by the people of Ukraine.  Since last Thursday, millions of innocent Ukrainians have been displaced and hundreds killed following Russia's invasion of an Eastern European democracy.   Indeed, world leaders have since responded by providing Ukraine with financial and military support while imposing heavy economic...

The S&P 500 index fell nearly four percent intraday on Monday, January 24, making for one of its most volatile trading sessions since September 2020.  Heading into this period of instability, investors had good reason to believe that the markets were heading for a collapse.  Rising inflation, concerns about the Omicron variant, the potential for war with Russia, and a Fed poised to aggressivel...

Who doesn’t like a fresh start?  The beauty of New Year’s Resolutions is that we all have an opportunity to fully commit to losing weight, getting organized, or finally saving more money at the turn of the calendar year.   Whether you want to admit it or not, however, the chances are that the work you’re about to put into one or more of your financial resolutions this year likely will soon end in...

While we strive to focus on long-term market trends related to achieving financial independence success, we believe that the Black Friday selloff is a canary in the coal mine as we look ahead to the coming year. Certainly, low volumes and technicals contributed to the sharp market decline. Still, the broader narrative underlying market sentiment is concern about government policy response to a see...

Don’t Make These Five Early Retirement Mistakes Handing in a resignation letter and walking away from an unfulfilling career may be one of the most satisfying acts in an individual's life.  By some measures, there are an increasing number of satisfied people in the world today.  Indeed, recent accounts increasingly show that people are leaving their jobs in droves.  These developments are evi...

Retiring early is an aspiration that many individuals can get excited about.  Vicki Robin and Joe Dominguez, in their best-selling book, “Your Money or Your Life”, arguably introduced the concept of early retirement to the mainstream culture decades ago.  Today, thousands of individuals are actively pursuing their goal of becoming financially independent and quitting their nine-to-five grind. Acco...

Investors have had good reason to celebrate this year, but is it truly time to let our guards down?  Thanks to practical policy guidance, more than half of the US population has received at least one COVID-19 vaccine in 2021.  Add to this the boost from a $1.9 trillion fiscal stimulus package introduced in March, and the US economy today is on pace for its most robust recovery in nearly 40 years....

Many driven individuals are keen to identifying seemingly attractive investment opportunities to grow their savings in their pursuit of financial independence. More often than not, however, what they miss is an essential component to long-term financial success: a process to manage their investments that helps mitigate downside risks.   Indeed, various studies have shown that the key to success in...

Life changing money. That's what happened to John Ratcliff. In 2013 the software developer from Colorado purchased 150 Bitcoin. Today, his $15,000 bet is worth millions as the price of cryptocurrencies (crypto) skyrocketed.  Another individual who also came into life-changing money this year is Vitalik Buterin. The 27-year-old college dropout and co-founder of Ethereum is now the world's...

In a speech delivered just outside of Pittsburgh in late March, President Biden introduced the American Jobs Plan.  This sweeping initiative would spend over $2 trillion to prevent infrastructure disasters like the one in New Orleans and provide a renewed foundation for businesses and individuals to compete globally in the twenty-first-century marketplace.  To be sure, President Biden's propo...

Dave and Beth are a high-earning household stuck in the perpetual cycle of rising income and ever-increasing spending.  While their situation ultimately led them to bankruptcy, their story is an extreme example of how getting stuck on the hedonic treadmill and pursuing other people's money scripts can leave you emotionally empty and financially broke.    In today's podcast, we'll ta...

Some investors today are worried. They're asking, "is now the right time to get into the markets?" Their primary concern is putting money to work at the top of the market, only to see their precious savings decline in a selloff.  And they have good reason to be concerned.  Volatility in certain parts of the financial markets remains elevated while asset prices continue to drive high...

Some people are getting rich in the markets today, so why aren’t you? As an investor, fear of missing out is a difficult emotion to manage, especially when others are seemingly making easy money and you’re not. In our latest podcast, we discuss:   Why, when it comes to investing, few, if any individuals, enjoy going against the crowd for the sake of discipline, especially when their neighbors migh...