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It’s been a few months since my last blog and I’ve been busy as ever. Don’t worry, you’re going to start hearing from me with a little more regularity soon.
This is a special debt busters edition as I have a testimony to share. A while back I posted a blog about making sure your income was a lot more than your expenses. Since I like to practice what I preach, I took a part-time job at the beginning of the year. A new administration took over and there was a lot of uncertainty on what taxes would look like among other things. Although I didn’t really need a part-time job there was a method to my madness. For starters, I wanted to do something I’ve never done before: Pay off my new 5-year auto loan in 8 months. Every month, I made a large additional principal-only payment and do you know this month my car is now paid off 4 years and 4 months early! Since I’ve achieved everything I set out to do, I let go of the part-time job just in time for the holidays!
The same thing can be achieved with a mortgage, student loans or any other type of debt. As you can tell, I hate debt and love the idea of living without any financial worries. I strive to be able to pay cash for everything one day, including cars and other big-ticket items. As long as you’re in debt you’re not totally free (Proverbs 22:7) and I want the most fulfilling life for myself, my family, and for you too! I hope this encourages someone to do what may seem like the impossible and tackle your debt. Having a plan and sticking with it is key to achieving anything you want in life.
The S&P 500 has gone up over 200 points or roughly 8% since the last time I blogged. We ended the day today at an all-time high of 2690. We still haven’t had a meaningful correction which is a little scary because whenever it happens it could be more than what we want. All small dips have been bought and the market keeps marching higher.
Here is what’s moving the market higher: Passage of the tax overhaul with the centerpiece being the much lower 21% corporate tax rate, much better-than-expected retail numbers, and continued global growth. I don’t see anything stopping the rally and any sell-offs will probably be short lived and once again buying opportunities.
Bitcoin has continued higher and has probably been the best investment for those early believers this year. I give anyone props who bought below $1000 in January and held all year long. We are now flirting with $20,000 per Bitcoin, up a whopping 2,200% this year alone!
Please visit our website at www.LegacyInvesting.net and contact us today for a FREE consultation on becoming financially fit and learning how to make money investing in the financial markets. You can make money in ANY type of market (bull or bear). When we meet I’ll give you more information about our services and find out what your financial goals are. If I can help you, we can move forward; if not, no problem but I’m always just a phone call away from any questions or quick advice you want. Get your finances in shape in the New Year! From my family to yours I wish you a happy holiday season and the best and brightest year ahead.
Disclaimer – Legacy Investing & Wealth Management LLC or any of its advisers are not liable in any way for any losses incurred through trading by readers of this weekly blog. Any information or strategies of trading suggested here involve risk of capital loss and this weekly blog is not considered investment advice. Individuals who invest in securities are solely and completely responsible for any and every outcome that may occur.