What do Henry Winkler, Hulk Hogan, Betty White, Fred Thompson, Kim Kardashian, Montel Williams and Alex Trabek all have in common? I’ll give you a minute to think about it…Cue Alex Trabek’s theme music. Doo Doo Doo Doo Da da da da (OK you get the point even if that is more Police than Jeopardy) Time’s up! The answer is…
We have all received the emails from the concerned African prince that wants to wire us millions of dollars if we give him our account information. Hopefully everyone knows that it’s a scam. As the old adage goes if it’s too good to be true. Well I was away for a few days at a conference and when I returned I had this very ominous voicemail at my office.
For the regular readers of my blog you know that I am a big believer in planning. I believe in having written goals and developing a plan to work towards accomplishing them. Big business uses strategic plans, communities develop land use plans, and athletes develop plans for their season. So why, according to a recent Gallup survey, do only 38% of people in the US have a written out financial plan.
My daughter Savanna and I love roller coasters. The bigger, the faster, the scarier the more we love them. A couple of weeks ago we spent some daddy daughter time at Carowinds in Charlotte. They have a brand new roller coaster named Fury 325. The name is certainly fitting as the coaster brings you up 325 feet in the air and then drops you at an 85 degree angle at speeds of almost 100 miles an hour.
I hope this post doesn’t find you too late but summer is finally here and we all know what that means! VACATION! Along with vacation comes the dreaded tradition that too many of us fall into summer overspending.
I have recently been introduced by my wife and daughter to the newest toy craze sweeping the country. No, beanie babies are not making a comeback, and you will not be waiting in line at Christmas for the latest and greatest doll. The latest craze is little pieces of plastic called Shopkins.
525,600 minutes! That’s how much time is in 1 year. I could have used twice that amount as I was getting Thorium up off the ground. I can’t believe it has already been a year! What a wild and crazy ride it has been but I have survived year number 1. It has not been without its opportunities, excitement, and challenges and upon reflection I now understand so many of the business lessons I had read in books or heard from other experienced entrepreneurs. I understand them now because I have lived so many of them. In honor of that I am going to share 7 lessons I have learned during this first year of independence.
In Part 1 and Part 2 I looked at the common themes that lead to professional athletes having financial difficulty and bankruptcy. At the core the reasons are the same as most people: they spend more than they make and they don’t have a sound financial plan for the assets they do have.