Recent Posts on The Wealth Spa

Are You Drowning Under Piles of Paper?

Modern families can accumulate a large amount of paper and information, similar to a mini-corporation.  The management of these records can overwhelm and frustrate many people, resulting in disorganized, voluminous files, and the inability to locate important information when it is needed.  The following series of questions & answers addresses issues families may face in managing their important... 

Top 5 Secrets Why Cash is Not Safe

In this turbulent economy many people are fleeing the stock market (or selling low) and sticking their money in cash.  While I do recommend cash (such as savings accounts, CDs, and money market accounts) as appropriate for short term goals (next 3 years), investing in cash is the wrong choice for long term (10+ years) goals, such as retirement.   Cash seems safe because your principal stays the... 

Outsource And Be Rich: The Little-Applied Secret ALL Wealthy Entrepreneurs Use

Guest post by Fabienne Fredrickson, The Client Attraction Mentor Let me share a big secret with you that all wealth-y solo-entrepreneurs know: If you want to have an ideal business, work less and make a whole lot more, I can assure you that you CANNOT do it by yourself. You must outsource! You know how I know this? Because for years, I tried! For years, I tried to do everything in my business by myself,... 

5 Ways to Increase Your Revenues Now

Guest post by Ali Brown  While the rest of your friends and colleagues may be hemming and hawing about how bad the economy is, smart entrepreneurs are quietly calculating not only how to thrive in these times but dramatically increase their incomes as well! And it’s not complicated either. For example, when I coach with clients, one of the first things we do is sit down and look at their current... 

There is no such thing as a risk free investment

Let me say that again.  There is no such thing as a risk free investment.   But Elizabeth, you say, what about cash?  CDs?  FDIC-insured savings accounts?   Ah, you are confusing risk of volatility, with risk in general.   But isn’t the principal value guaranteed in an FDIC-insured savings account or CD?   Well, sort of.  If you don’t count the monster lurking down the dark alley –... 

♪ Celebrate - It Will Be So Nice…♫

Guest post by Sandy Grason, Rock Star Author. Many of the high-achieving go-getters that I work with forget to celebrate after a big accomplishment. This is a crucial step in your success. You must tell the Universe how wonderful it is to have completed this amazing goal and take a moment to relish in the joy and bliss of your success. And then, from that clear space you can begin to map out what is... 

The #1 Secret to Saving More Money: Pay Yourself First

How much do you save each month?   You may be making 401(k), 403(b), or ESPP contributions out of your paycheck, if you are an employee.  You may set aside money each year in a SEP-IRA or solo 401(k), if you are self-employed.  But what else?  Are you saving for your other goals each month?  Or just when money is “left over?”   Savings must come off the top, first, if you are going... 

Will Holiday Habits Set You Back for 2009?

Guest post by Jack Canfield, America’s #1 Success Coach You are an accumulation of your habits. From how you get out of bed, how you shower, how you dress, how you shop for food and eat meals, how you exercise, how you walk, sit, and talk, how you respond to the world, how you act in front of others, and how you think; you are living out your habits. Habits are necessary. Because they typically... 

Ep #69 Avoid Investment Scams!

Elizabeth invites Mark Cravens, the Anti-Scam Doctor to share tips and strategies for avoiding investment and business scams, including how to tell the difference between a legit MLM/network marketing business and a ponzi scheme. Mark shares how he fell prey to an investment scam himself where he lost $376,000, the 10 Commandments of Investing that he learned from his experience, and why successful... 

What Order Should I Pay Off My Debt?

Question:  What is the right strategy for paying off debt?  Should I pay off credit cards, or make more than the minimum payment to my interest only mortgage?  What about money I owe to a family member, who is not charging me interest?   Answer:  The first step in paying off debts is to make a list of all your debts, including the source of the debt (why you got into the debt), the interest rates,... 

Embracing Chaos with Grace

(Essay written November 2007) I am not dispensing financial and legal advice from an upper floor of a fancy high-rise, in a dark, wood paneled office, resting on a leather chair, over a mahogany conference table.  My advice is dispensed while a toddler is yanking on my sweater, with Dora the Explorer blaring in the background, removing cookie crumbs from my client forms, using a laptop with a missing... 

Ep #68 Convert Your Chaos To Cash

Elizabeth invites Patrice Dickey, Your Guide to the Life You Love, to speak about Convert Your Chaos to Cash: The Seven Secrets Blocking Creative Entrepreneurs from Getting the Life They Love. Learn how to re-ignite your understanding of time-tested principles to bring your vision to life, and convert your chaos to cash! Patrice shares how Right Brained and Left Brained people think, tips on how Right... 

Friday Wealth Resources: Habits, RSS, Non-Scams, Big Cups

  Each Friday I will post a list of amazing resources for you from the web to help you build holistic wealth for you and your business.  If you have any resources to suggest, feel free to leave a comment below or reply to me on twitter.  Enjoy!   Breaking a Bad Habit Shatters the Rung Beneath You from Zen Habits  We are all climbing a staircase of success (or life) … is a bad habit from... 

How to Pick an Investment Part 4: Less Fees Is More

  What’s the easiest way to make more money on your investments?  Pay less money in fees. Do you know what fees you are paying on your investments?   Fees tend to break down into four main categories:   Advisor Management Fees:  Fees you are paying to a broker, financial advisor, or wealth manager to manage your investments for you.  Typically a percentage of your assets under management... 

How to Pick an Investment Part 3: Simple or Complex?

The third strategy when choosing an investment is related to your tolerance for complexity.  Do you want something super simple, or are you comfortable with an investment strategy that is much more complicated?   The first step is internal.  You must evaluate your own tolerance for complexity.  Are you an experienced investor, who understands asset classes, how to read a Morningstar report, and...