Tools & Resources
Monte Carlo* retirement nest egg calculator. Once you understand the value of Monte Carlo simulations, this is an excellent tool to help with retirement planning.
Dollar-Cost-Averaging (DCA) is a powerful investing technique. This is a calculator that you can use to back-test different investments under DCA principles.
Here is a student loan repayment estimator tool – for those of you with student loans.
Estimate your federal tax bracket with this online tool that shows you marginal rate (tax on next dollar earned) but also your effective rate (the percentage of tax against your total income).
This S&P 500 Dividends Reinvested Price Calculator shows the return if you bought into an S&P500 Index at a certain time and held it for a certain period. It’s interesting, but what I find more interesting is the S&P 500 Dividend Reinvestment and Periodic Investment Calculator because that’s what most of us will be doing to achieve financial freedom – investing at a consistent level every single month.
Thinking about changing up your investment portfolio mix? Here is a nice online tool to backtest a custom portfolio. You can enter stock symbols and the percentage of your total invested in each, and it will run tests to show how that mix would have performed over the past few years. Of course, past performance doesn’t guarantee future performance, but it is interesting at a minimum and could be useful in understanding the impact of different balances.
Rich Dad Poor Dad. This is a great read and an excellent guide to solidify a personal financial situation and making progress toward Financial Peace. The principles in this book are so good that I’ve modeled most of my real estate investing on these time-tested principles.
Money Master the GAME– Money really is a game and we need to know the rules if we don’t want to be taken for a ride. The less we know the more it costs us. In this book, Anthony Robbins interviews some of the best financial investors on wall street. He asks each of them if they could only give their children one piece of advice when it comes to money what would it be.. They shared. Plus he talks about many resources and tools that are available. I help my clients with all these same resources and tools.
The Automatic Millionaire. No, this isn’t a get-rich quick book but rather a book about the power of long-term and consistent financial practices. It’s a fairly easy read with very powerful ideas and suggestions that can have a huge impact on wealth building. What makes this book unique is that you don’t need a budget, willpower, make a lot of money, you don’t need to be that interested in money, you can set up plan in an hour.
The Millionaire Next Door.One of my favorites. All millionaires drive expensive cars and live in big fancy houses, right? No – think again. People who live “rich” are actually more likely to be broke. This book is based on tons of interviews and surveys and presents a more accurate and realistic picture of the average millionaire.
Rich Bitch- This chick is me.. If I were to write a book this would be it. She puts her own sassy spin on everything you have ever heard about money. Her plan is one I would work with my clients on. Good Read
Financially Fearless -Written by Alexa Von Tobel This is another chick that I agree with most everything she says. She teaches the 50/20/30 Plan in the book. Learn to talk openly about money. She is the founder of LearnVest
Credit Karma– (FREE) Download app. I have on my phone and I can check it whenever I want. It helps you confirm every line of credit open in your name and its status – so you can make sure everything is correct. It also lets you know if new credit has been opened… identity theft is a big deal.
MySocialSecurity is the government-run site where you can go to check on your social security benefits. You need to check it every so often to make sure income is being reported properly and also to get an updated idea on expected social security benefits at different retirement age levels.