Growing up watching George Foreman as a boxer, and later in life as a grill salesman, I never really considered him an author that I would be interested in reading.  However, Foreman has a great book that should be read by anyone who considers himself/herself an entrepreneur or wants to know what it is like to build and manage your own brand and business.

Using experiences from boxing and other areas of his professional life, George shares experiences that can be used by all of us.I was impressed that he shares his faith throughout the book and shares how that is important to him as businessman.

Remembering Foreman from my youth, brought back several memories of his fights.   I really enjoyed learning more about his early relationship with Don King and the role they played ineach others lives. However, even in boxing he was working on his brand and his business.

Late in the book, George relates that most of his highly successful friends are “avid readers”.  If you consider yourself an entrepreneur, you need to be an avid reader and I recommend this book.

Wow, Chip Evans has done it again.  He has spruced up the website, put it on a new platform and incorporated more of the blog visibility.  While the same branding is there, it is a new site and I have to get used to updating it.  There is still more to add to it.  Soon we will even add some video to the front page.  We’ll see how that works.

One of the things I intend to do is more blogging.  Over the past few weeks, my blogging has slowed due to the site changes and a couple of other projects.  However, now I hope to be writing more.

As he was working on the new site, we found that many of the earlier posts had disappeared.  Chip was able to recover several, but some that currently exist are dated.

So, take a look at the website and let me know what you think about it.

Many people I meet now are discouraged about their investments or the stock market in general.  They say that their investments have lost a great deal of money this year and they wonder, in many cases, if they should do something drastic like sell off, stop contributing, etc.

It can be a very unnerving time in the world of investing.  It seems like yesterday that things were going like gang busters and all of the sudden it stopped.  Unfortunately, even the best of investors can not time the market perfectly.  Would that not be nice?

Most of us invest on emotion.  Better said, we buy when the market or securities are up and sell when they are down.  On thing to remember is that we are all investing for the long term   Your expectation should not be to make quick money.  If it is, that will lead to bad decisions and very risky investments.

Long term – what does that mean?  Simply put, do your homework on investments and investing in solid mutual funds while you diversify your investments.

Homework?  Look for solid mutual funds that have a long, successful, track record of delivering strong returns.  Having a fund(s) that have been around through economic ups/downs, political elections and fiascos, natural disasters and whatever may happen – and the fund can still deliver a great average return is something that should be looked out.

There are other items to look at, but investing for the long-term is crucial.

Diversification is simply spreading your investment money across multiple areas of the stock market.  Finding the best funds in these four to five areas will help you weather the investment storms that come up once in a while.

Those storms may be small or large, but looking at the long picture helps us realize that the storm will not last forever!

It is here again.  That time of year that our kids typically dread – back to school time.  I learned this week, that one school district in my state has already started back!  My children, like yours, are dreading the return of school.  Truth be known, they are dreading the more disciplined approach to the day.  They do not like the thought of going to bed earlier and getting up earlier.  Yes, it will also be time to make their lunch and get prepared for the day.

As parents, we need to make sure that they are ready for school work.  Millions of dollars will be spent these next few days and weeks making sure they have paper, pens, pencils, binders, lunch boxes, crayons, etc….   Oh yea, don’t forget the new wardrobe.

If you are a parent you know what I mean.  If you are the parent of a middle school child you know how bad the wardrobe piece starts to get.  They have to have the best name brand items that life will allow.

Are you ready for the back to school supply push?  Have you figured into your August or September spending plan all of the costs of going back to school?

We need to stay focused and purchase school supplies that are in tune with the spending plan we have built.  It is very easy to over extend and purchase all the things our children want, but what do they really need.  Work from a list and have set dollar amount son the list so that you are spending your money wisely and according to plan.

Make sure that you shop from the approved supply list from your child’s teacher(s).  This will help you to stay on track to buy only what you can afford to pay.  Also, make sure that what you are requested to buy is really needed.  Feel free to question your child’s teacher.

The point is – stay on target!  Don’ go crazy and over spend.

Finally, where you can, take advantage of your state’s tax free holiday.  In my home state of Georgia, the tax free weekend is this weekend for school supplies and clothing.  There are limits on the amounts, so make sure you know what you can and can not purchase.  Use the tax free time to stay under your budget.

If you are not in Georgia, when is your state’s tax free holiday?

Enjoy your shopping and best wishes to a successful school year for your children.

It is hard to believe that July is here.  For most of us, it is hot, humid and hazy – summer is in full swing.  Before you know it, our children will be back in school, vacations over and we will be preparing for fall and winter.  Where does time go?

Looking back, it was just six months ago that we were in a brand new year.  None of us really new what 2008 would hold.  All of though, in some way, had our plans for what we wanted to do this year.

Some of those plans, resolutions if you must, were things that we failed to accomplish in 2007 but knew we would get to them this year.  “Good intentions”, I think, is what they are called.  How many of us have actually lived up to those?

I prefer to call them goals and not resolutions.  In most cases, resolutions never get completed.  Goals, on the other hand, when really managed, tracked and worked to get done.  What were yours – goals or resolutions?

What has all of this to do with finances?  Well, let me ask – what have you done about your financial goals or resolutions that you set six months ago?

For some it was the year that you were getting out of debt.  You were tired of the ball and chain of debt and it was 2008 that you were going to do something about it.  Worry, stress, lack of sleep – they were all going to be part of your past because you were getting out of debt.  So how is that coming?

For others it was the year that you were going to begin investing.  We are not getting any younger and the possibility of retirement is getting closer each day.  Getting money into investments now, in 2008, is going to help you take advantage of the investment principles that will make your money grow.  How is that coming for you?

Still others are tired of having a mortgage.  You are tired of the thought of something happening to your number one investment and you are finally beginning the process of paying more on your mortgage to get it done and behind you.  How is that working out?

Finally, some of you have decided that this is the year you are going on a paid for vacation or paying for your 2008 Christmas with cash.  How much do you have in those accounts so far?  Are you on track?

I could have waited until December to write and send this, but what could you have done then?  By then the year is gone and you have no way to complete your goals.  Right now, there is still time.

Get going.  Yes it is July, but you have almost six months to get back on track.  Review your goals and begin a plan to get them completed – this year – 2008!

We have all let the things of life get in the way.  Now is time to stop and get re-focused!

As we wrote last time, preparing for our earthly departure is not something that we want to think about day in and day out.  However, it is important that we do some planning   Not only is it important, but it will help those that we leave behind in a much better position to carry on.

There is one thing that will compliment all the items that were suggested in the last article.  This one item will really show those around you how much you love them.  In fact, I call it the “Love File”.  Every home needs one.

Most couples have the “primary” spouse – the one who typically takes care of all the necessary documents.  The other spouse is often left out, not because they do not have a need to know, but because we just don’t get around to it.  Having a “love file” will leave all the pertinent information, or directions to that information, in one location to be retrieved in a quick manner.

While the primary reason for this file is for when we are gone, recent disasters have shown us it is a quick, timely way to keep track of our personal information if we were forced to leave our home quickly and needed to grab the important “stuff”.

What do we need in this folder?

1. The Master Document – just an overview of all the documents listed in the file.  Some may call this an executive overview.
2. Account Information – a complete list of all checking, savings, investing and other financial accounts and account information
3. Benefit Documents – a complete listing of all benefit information.  Many spouses have no specific information on items from their spouses benefit plans – health insurance, life insurance, short/long term disability, 401(k)/403(b) plans and anything else that may be important in this area.
4. Assets and Liabilities – a complete listing of all assets and all liabilities.  Any information specific to those items should also be listed.
5. Directions on Handling any Business Assets – if you have a vested interest in a business or partnership, any specific instructions should be documented here.
6. Copies of Wills, Living Wills, Powers of Attorney and Health Powers of Attorney copies of those documents, or specific instructions on where to find those documents will again help take some stress out of the situation.

Make it a scheduled task to update this information any time information changes and definitely once a year.  A good time to remember to update the file is every year on your birthday – one day most of us keep track of.

Place this file where it is secure, but accessible by the family members who may need to the information at some time.  It will be those that you love the most who will find this information helpful at a time when they need it the most.