C & J Innovations, Dallas, TX (2026)

07/29/2022

The Walkaway Mindset, a vital aspect of Your Expansion Passport(TM), includes your “walkaway” planning, As mentioned previously, the first step in the plan is to establish a retirement fund if you have not already. The last step in the process is making sure your money lasts as long as you do.

Not running out of money in retirement requires a plan for withdrawal, with most experts agreeing that it is a good idea to stay within a 3 to 5 percent range (based upon your age and life expectancy). Being a good steward of wealth means that if your portfolio suffers losses in any given year, you may need to cut back on expenses, giving it a chance to recover.

A financial advisor, who works in partnership with you, knows that you will need to consider inflation in your withdrawals as well as asset allocation and asset location. They will help you keep an eye on the many pieces that go into a successful withdrawal strategy.

Comment below if the current environment has helped you consider inflation and market decreases in your “walkaway” planning.

https://www.cnbc.com/guide/retirement-planning/

07/27/2022

The Walkaway Mindset, an important element of Your Expansion Passport™, rests on the foundation of your “walkaway” planning. The first step is to establish a retirement fund, if you have not already done so.

Next, access available investments. One strategic approach to retirement investing is to diversify your portfolio by including a mix of different investments. As you do so, strike a balance between the return you desire and the risk you are willing to take: That allows you to control your asset allocation.

Every investment category performs differently in different economic environments and carries different levels of risk. You can often balance the risk of your portfolio by spreading your principal (the amount you invest) across different asset categories,.

Your financial advisor can help you build an allocation with the level of risk that feels best to you. Comment below if you have created a diversified portfolio for your “walkaway.”

https://www.finra.org/investors/learn-to-invest/types-investments/retirement/managing-retirement-income/managing-your-retirement-portfolio

07/20/2022

The Walkaway Mindset, an important element of Your Expansion Passport™, includes retirement planning. The first step is to establish a retirement fund if you have not already.

The next step is to assess the available options—defined benefit versus defined contribution. Most private-sector employees are offered and take a defined-contribution plan. They carry less risk for the employer as they are not responsible for managing the account themselves and offer more flexibility to the employee.

In a defined contribution plan, the employee, or the employer, or both, contribute to the employee's individual account under the plan. A defined benefit plan promises a specified monthly benefit at retirement.

Names of defined benefit and defined contribution plans include a Simplified Employee Pension Plan (SEP), Profit Sharing Plan or Stock Bonus Plan, a 401K Plan, an Employee Stock Ownership Plan (ESOP), and a Cash Balance Plan. It is important to seek advice from a financial advisor to help you choose the best plan for you.

Comment below if you work with a financial advisor on your “walkaway” plan.

https://www.investopedia.com/ask/answers/032415/how-does-defined-benefit-pension-plan-differ-defined-contribution-plan.asp

07/15/2022

The Walkaway Mindset, an essential part of Your Expansion Passport™, includes your retirement planning. The first step is to establish a retirement fund if you have not already.

Investing even a small percentage of your income can produce dramatic results. Creating a habit of contributing to your fund regularly will set you up for success and setting up automatic deposits to your fund will make saving easier.

Once you start contributing to your fund, you can review your monthly budget and cash flow tracker to look for ways to increase your contributions. It is a good idea to increase your contributions at least once per year.

Comment below if you contribute to your “walkaway” fund regularly.

https://www.investopedia.com/articles/personal-finance/012516/how-hire-retirement-advisor.asp

07/13/2022

The Walkaway Mindset, a vital element of the Your Expansion Passport™, includes your planning for “walkaway”. In financial planning, retirement planning can be ignored. Some may feel that retirement is too far away to be a concern, while others may feel that they are too far behind for planning to matter.

Once the significance of planning for “walkaway” is recognized, an important piece of this process is working with a trusted financial advisor. No two situations are the same, and a financial advisor can help you explore what is most important to you. During this series on the Walkaway Mindset, we will discuss key pieces of retirement planning. Comment below if you are already working with a financial advisor on your retirement planning.

https://www.investopedia.com/articles/personal-finance/012516/how-hire-retirement-advisor.asp

06/24/2022

The Resource Mindset, a key part of the Expansion Passport™, includes your plan to track your personal expenses and cash flow. After selecting an expense tracker app and tracking expenses for a few months, you can look for places where you can make changes.

Your spending will consist of both fixed expenses and variable expenses. Fixed expenses are less likely to change from month to month. They include mortgage or rent, utilities, insurance and debt payments.

Variable expenses, like food, clothing and travel, are easier to adjust. According to Richard H. Serlin, a lecturer at the University of Arizona, “Tracking expenses can be very valuable for finding out what's really costing you, and what is not as bad as you thought.” With this knowledge, we hope you find it empowering to choose where you want to spend your resources.

Comment below if you have worked to reduce your expenses each month.

https://www.nerdwallet.com/article/finance/tracking-monthly-expenses

06/17/2022

The Resource Mindset, a critical piece of the Expansion Passport™, includes your plan to track your personal expenses and cash flow. After calculating your expenditures, look for some resources to help you keep track of spending on an ongoing basis.

Expense tracker apps help you collect and classify your purchases so that you can identify areas that can that be reduced. The highest rated expense tracking app in the App Store is Mint.

A good expense tracker app tracks transactions, monitors cash flow, helps you manage your budget (what is most important to you), and calculates your net worth. Remember that it's not how much you make but how much you get to keep. An expense tracker makes it easy to build your net worth in the areas that are most important to you.

Review the article below for more options for apps to easily help you track expenses. Comment below if you already use an app for expense tracking.

https://www.nerdwallet.com/article/finance/expense-tracker-apps

06/14/2022

The Resource Mindset, a vital element of the Expansion Passport™, includes your plan to track your personal expenses and cash flow. After categorizing your expenses, next comes calculating your expenditures.

Adding up your expenses in each category will help you see where most of your money is spent. You may find that spontaneous, frequent trips to the grocery store, as opposed to one planned trip a week, are inflating your grocery budget. You may determine that subscribing to several different streaming services may not be a smart use of your money (based upon what you really want in life), or you could save money for the new computer you want by reducing how much you eat out at restaurants.

Calculating your expenses is a great way to see where your money is really going - and if that aligns with your values and goals. Comment below on ways you could "fund" what is really important to you by changing where you are spending money.

https://www.nerdwallet.com/article/finance/tracking-monthly-expenses

06/10/2022

The Resource Mindset, a crucial part of the Expansion Passport™, includes your plan to track your personal expenses and cash flow. The second step in tracking your expenses is categorizing your expenditures. As you begin categorizing, you will start to see some patterns in spending. Notice which subscriptions you have, when you spend money, and on what you spend it.

Next, you can create categories from your actual spending, such as “food,” “entertainment,” “mortgage,” “gas,” etc. Services, such as Mint, are available to help categorize your spending. After creating your categories, you may use this information to create your budget.

Tracking expenses should be done on an ongoing basis to help you save money and avoid debt. Creating a spreadsheet with both income and expenses can help this process. Comment below if you have a method of tracking your spending.

https://believeinabudget.com/how-to-track-your-expenses/

06/03/2022

The Resource Mindset, an important component of the Expansion Passport™, includes your plan to track your personal expenses and cash flow. The first step in tracking your expenses is checking your account statements. Annamaria Lusardi, Denit Trust Distinguished Scholar and Professor of Economics and Accounting at the George Washington University School of Business, recommends “getting a sense for your monthly cash flow — what’s coming in and what’s going out.”

Using a debit or credit card, rather than cash for expenses can help you track your expenses. Cash purchases will need to be manually calculated. Spending habits can be identified by reviewing all of your accounts, including checking and all credit and debit cards.

If you use several different debit and credit cards, Mint.com will allow you to connect all accounts to appear in one statement. When getting started, you may want to review three months of expenses to get a sense of your patterns.

Comment below if you already track your monthly spending.

https://believeinabudget.com/how-to-track-your-expenses/

06/01/2022

The Resource Mindset, a key part of the Expansion Passport™, includes your plan to track your personal expenses and cash flow. It is easy to underestimate how much money you spend if you fail to track. According to Courtney Jespersen Neidel, “Tracking your spending on a regular basis can give you an accurate picture of where your money is going and where you’d like it to go instead.”

We truly believe the statement “It’s not how much you make, it’s how much you get to keep.” There are many online tools and apps that can help you easily track your expenses.

Throughout the month of June we will explore the various ways for simple and accessible methods for tracking expenses. Comment below if you use any particular tools or apps.

https://www.nerdwallet.com/article/finance/tracking-monthly-expenses

05/27/2022

The Income Mindset, an important part of the Walkaway Passport(TM), includes your plan to create an income plan after you “walkaway” from your career or business. During the past month, we have discussed the steps to create your retirement income plan template.

--Quantify your assets
--Look at asset allocation and asset location
--Estimate your monthly needs
--Illuminate gaps
--Work with a financial advisor

According to Dana Anspach, the timeline can be created like a budget, but it will predict your spending over a long period of time. If you know how much income you'll have over time, you can better prepare for both planned spending as well as unexpected expenses.

If you have not already, we challenge you to start thinking about your “walkaway” income plan, and work in partnership with your financial advisor to build the future that you desire.

https://www.thebalance.com/how-to-create-a-retirement-income-plan-in-4-steps-2388486

C & J Innovations

07/29/2022

07/27/2022

07/20/2022

07/15/2022

07/13/2022

06/24/2022

06/17/2022

06/14/2022

06/10/2022

06/03/2022

06/01/2022

05/27/2022

Address

Telephone

Website

Alerts

Contact The Business

Shortcuts

Share

Category