Thoughts From the Finance Factory

Do You Need a Financial Plan?

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.


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The Investing Roller Coaster

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.


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Don’t Break the Bank This Vacation Season

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.


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What Can We Learn About Investing From Little Pieces Of Plastic

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.


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7 Lessons From the First 525,600 Minutes

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.


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Not Broke: An Athlete’s Guide To Personal Finance

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.


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How Not to Become the Next Star of Broke (Part 1)

There are lots of sobering statistics about athletes that develop financial difficulties once their playing careers are over. In the NFL 78% of players are bankrupt or in dire financial difficulty within 3 years of their careers ending (Sports Illustrated March 23, 2009). In the NBA it is over 60% (Sports Illustrated March 23,2009). There are a few big questions that I am going to discuss over the next 3 blogs related to this topic. The first two are around the Why and the third is around What can be done to help?


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Congrats You’ve Been Drafted, Now What?

I have had the pleasure of knowing and working with several professional athletes during my career. They are a very unique group of people that have interesting financial challenges that are not unlike those in the working world except that they pack their career earnings in a very short window of time, usually 10 years or less.


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