Wise Money Tools

Well! Hi everyone, this is Dan Thompson. Welcome to another wise money tools video. So we've been right in the thick of this virus, this Coronavirus scare over the last few weeks. And boy has this market taken quite a tumble on February 20th, literally just a month from today. So today's March 20th. So a month ago, the Dow kind of peaked out it was 29,000 and some change 29,300. And then just fast...

Well! Hi everyone, and welcome to another wise money tools video. This is Dan Thompson, glad you could join me this week. You know, an interesting thing happened on Facebook just a couple of days ago, I saw a post from I guess you consider this like a second generation person. Anyway, this is what he posted. He said, for those of you who have stocks and bonds, do you use an investment advisor or d...

Hi everyone, this is Dan Thompson and welcome to another wise money tools video. So I read this interesting article the other day about the economy, said in the 2010s, the national unemployment rate dropped from a high of 9.9% to its current rate of just 3.5%. And then it said the economy expanded each and every year in that decade. America's confidence in the economy hit its highest point since 2...

Well! Hi everyone, this is Dan Thompson with another wise money tools video. Glad you could join me today. So have we seen a crazy market or what? This thing started back on? What February 24. We saw over 1000 point drop just in one day. I mean, it was 28,000- 29,000 dropped all the way down to 24,600. Then a couple days ago, I think it was on Monday it climbed back up to 26 nine, and then today w...

Hi everyone, Dan Thompson here. Thanks for joining me on another wise money tools video. Today I want to talk about college tuition and retirement and how they can kind of battle against each other. Not a lot of families out there have the capacity to fully fund college and fully fund their retirement and something typically has to give. So I went and did a little bit of research, if you will, and...

Hey everyone, Dan Thompson here with another wise money tools video. You know, last week I talked about the Golden Goose and how important that was to start saving your eggs. And we alluded to the fact how important it is that those eggs have time. Time to mature, to hatch to become other geese and then build even more eggs from there. So one thing that we all need, and we all run out of, and that...

Hi everyone, Dan Thompson here. Thanks for joining us on another wise money tools video. You know, I've used this analogy of the golden goose over the years and in the next video or two kind of want to lay out how this might be one of the most important money concepts you'll ever learn. I know that sounds Whoo. But really it's true. You know what's fascinating to me about money and investing is it...

Hi everyone, Dan Thompson here. Welcome to another wise money tools video. So we've talked a couple different videos now recently about leverage. Well, let's look at what that really means. Now there are several reasons as you know why we like to use life insurance when it comes to safe money. The plus sign in the equation and in a second here, I'm going to show you how to add leverage to a policy...

Hi everyone, Dan Thompson here. Thanks for joining us on another wise money tools video. In the last few videos, we've been talking about the 5 elements to wealth, and I hope you've gotten a real good sense of what all that really means. If you recall that first element is so important, it's where it all starts. It's extremely critical and that is pay yourself first. You know, this is such a simpl...

Hey everyone, and welcome to another wise money tools video. As you know the last few videos, we've been talking about the five elements to wealth. We're gonna finish it up with the fifth one today. Remember our equation y=a(1=r)x. Well, today we're gonna talk about that the power of x. Just as a quick review, a is our cash. Remember, we got to pay ourselves first one is the capital or the debt eq...

Hi everyone, this is Dan Thompson with wise money tools. Welcome to this video we are in part two of compounding. Now if you didn't watch part one, I need you to go back and watch that because it's gonna make a lot more sense if you watch that first. Trying to keep these videos short because I want you to stay tuned and not go away because this is good stuff. So in our compounding discussion that...

Hi everyone, this is Dan Thompson with wise money tools. Welcome to this video or podcast. You know today I want to talk about debt and credit some of the pitfalls that people fall into, and they don't even do it necessarily on purpose. But we live in a world today with really easy credit, which means easy debt. We got bank and finance companies are always out to look to grab another family, shack...

Hi everyone, this is Dan Thompson and welcome to another wise money tools video. We are talking about the 5 elements to wealth. And this time we're going to have a little bit of a crossover from our last video where we were talking about debt. In our last video, we were trying to determine good debt, bad debt, when to have debt, when to be using your money to build and grow. So this is kind of a c...

Hi everyone, Dan Thompson here and welcome to another wise money tools video or maybe podcast depend on how you keep in touch with us. Well, at the time of this video, it's early December 2019. And you may have a few more weeks to do something that you probably should seriously consider, and that is to convert your IRA or maybe even some of your 401k to a Roth. Okay, this is called a Roth conversi...

Everybody, this is Dan Thompson with wise money tools. Thanks for joining us on this video. So in the past couple videos, we've been talking about the five elements to wealth. And today we're gonna talk about one of the other elements. Remember our formula, y=a(1+r)x. And each one of these things has it's own little element. That's part of it a is our cash, pay yourself first. One is our capital a...

Hi everyone, Dan Thompson here, if you remember, we're talking about the five elements to wealth. Now remember the formula created by Einstein. He called it the eighth wonder of the world. It's compound interest, y=a(1+r)x. If you recall, why is our outcome? This is the answer, right? This is our goal. This is our wealth. Now the first element that we have to understand is "a" and "a" equals cash....

Well! Hi everyone, this is Dan Thompson with wise money tools. Welcome to this video. Today we're gonna talk about the most critical and least understood basic money principles. Now, listen closely here for just a second. Okay, I'm gonna be putting out these next five to six videos pretty quickly. As you know, I typically put one out about once a week. But this next five or six are gonna come a li...

Hi everyone, this is Dan Thompson with wise money tools. Welcome to another video or podcast, however you listen to us. You know, if you look around there's a bunch of different financial advisors and they're kind of divided, if you will. You know, on one hand, you've got the advisors that are all about selling you. You know, mutual funds, maybe some stocks, nothing they sell has guarantees. And w...

Well! Hi everyone, this is Dan Thompson wise money tools. Glad you could join me on this wise money tools video. So I got a quick question for you. Are you capable of picking your own mutual funds? Now that might sound kind of silly, but I started as a financial advisor back in 1986. Yep, old guy, little gray here. Now, if you work for a big firm, what happens on a fairly regular basis is you get...

Well! Hi everyone, and welcome to another wise money tools video. This is Dan Thompson. Glad you could be with me today. So today we're gonna talk about what happens if the cost of living goes up? Well, first off, we got to understand some of the reasons why the cost of living might go up. A few things can happen because of recession, it can be inflation, it can actually because of you know, a dyn...

Hey everyone, this is Dan Thompson. Welcome to another wise money tools video and podcast. Now in this video we're gonna talk about and take a look at the new proposed health care that Elizabeth Warren just came out of. But we're gonna try to look at it from the perspective of, you know, a hard working middle class American, if you will, who's, you know, trying to get to a point where they can ret...

Well! Hi everyone, and welcome to another wise money tools video. I'm so glad you could join me today. How is it out in your world? You know, every morning, I should say I try every morning to do an elliptical workout. And I use a program called I fit it's really cool because do you run with a trainer in all parts of the world. I've been a run on the beach in Hawaii in the Cinque Terre in Italy, I...

Hi everyone, and welcome to another wise money tools video. Hope you're having a great week. So I want to ask you some did you ever see the movie "The Big Short?" So "The Big Short", very interesting movie a guy named Michael burry. He essentially shorted the mortgage market back in 2007-2008. So, I got to kind of paint this picture first you got to get a better understanding why shorting is to un...