Chris Cooper Profile and Articles

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1). Inflation - The Slayer of Your Savings
Since inflation consistanly erodes the buying power of our money, our investments have to exceed the inflation rate or we will outlive our money.

2). The Magic Bullet Theory of Investing
Sadly, too many people believe that the successful in our society got that way through luck. So their financial plan is based not on earning and investing money, but waiting for their fairy godmother to show up.

Some “miracle” roads to riches:

The Lottery

What better way to get rich, but to play the lottery. Even though the odds are 200 million to one, somebody’s got to win – right? Why not you?

The ancillary to this is gambling.

3). Get Rich Slowly
Is it hard to get rich? Not really, if you’re young.

Its fun to play with financial calculators and see what might happen.

Assume you have just graduated from college, are about 22 years old and I just started your first real job. If you put $100 a month in an IRA that grows at 10% a year, you will have about $865,000 at age 65. 10% a year compound growth is about what you should exect if the money was invested in a no-load S&P 500 Index Fund.

4). The Road to Financial Freedom
The road to financial freedom is a lot shorter than you may think. For those of us who did not start our lives wealthy because of our family, we only have 46 to 49 years of income producing – more if you want to work into your “retirement” years.

During that time, we must complete our education or training, get a job or open a business, while meeting the many demands on what income we have left after
taxes.

5). Diversify with Real Estate
Real estate is a good way to diversify your assets and create a second stream of income.

6). The Devil Made Me Do It
Unfortunately there is a growing trend in the US to blame someone else for our own mistakes or bad decisions.

If you build your house on the beach and it gets blown over by a hurricane, FEMA will take care of rebuilding it.

If you eat too much, some nice trial lawyer will be happy to sue McDonalds or Ben & Jerry’s for making high fat food that you decided to eat too much of.

7). You Gotta Have a Plan
How that is some people can retire at 50? Or not lose their shirt when there’s a stock market “crash”?

Why are some people able to earn high incomes or even have “multiple streams of income?

How come some people retire to a life of luxury and world travel, while others barely have enough to feed and house themselves?

Of course, one part of it the answer is that some people are more intelligent and industrious than others.

8). Don't Check Your Brain at the Border
I always believed in the maxim, “diversify your investments”. So during our working careers my wife and I used to buy real estate, especially south of the border.

When it came time to retire, we chose to live at least half the year on the shores of Lake Chapala, Mexico. Lake Chapala is at almost the same elevation as Denver, Colorado, but rarely gets as cold.

9). The True Cost of Bad Credit
I am often asked the question; What does bad credit cost me?”

It is a hard question to answer because of the individual’s circumstances and the fact that lenders are competing fiercely for customers.

But I will give it my best shot.

Mortgages

If you know your credit score you will be in a position to make a pretty good guess at what interest you will be charged on a mortgage.

10). Is Life After Bankruptcy That Bad?
It seems that some people do not recognize that dispite some unpleasant aftereffects, bankruptcy is truly a “fresh start.”

Instead of being satisfied with the benefits they receive some people remain unhappy.

Here is a letter I received:

“Why does it take attorney's six or more weeks to discharge a chapter 13?

Why do apartment leasers hold a bankruptcy.

11). Working in Retirement
Why working in your retirement years can be good for you financially as well as physically.

12). Diversifying Through Real Estate
We should all diversify our investments over different asset classes. Real estate is an excellent vehicle for diversification.

Real estate rental properties used to be a perfect investment for high wage earners. They were able to deduct all the losses generated by the property - and when you added up mortgage payments, property taxes and maintenance, the losses could be substantial - from their gross incomes.

The IRS has rained on that parade. Real estate rental propert...

13). Do You Pay Yourself?
The typical scenario is that you get your paycheck. After you recover from the shock at how little is left after taxes, you proceed to divvy it up among all your outstanding bills, intending to put whatever is left over into your savings.

But there never seems to be anything left over and your savings don’t grow.

A better plan would be to pay yourself first.

14). What is True Wealth?
What is true wealth? What should you expect if you reach the end of the gold paved road to financial freedom?

If you have a million dollars, will you be satisfied? What about 10 million? Is true wealth a numbers game or do other factors enter into the equation?

Ebenizer Scrooge of Dicken’s The Christmas Carol was very wealthy for his time, but before meeting the three ghosts of Christmas past, present and future,
he lived a miserable life, too cheap to even heat his own apartment.

15). The Major Changes Caused by the Bankruptcy Reform Act
Hightlights of the major changes to the bankruptcy laws likely to affect consumers.

16). The Blame Game
Who do you blame for your financial troubles?

17). Are You Ready to Retire
As the boomer generation turns 60, it is time to examine your retirement options.

18). Are You Going Bare?
Why insurance is a vital part of any financial plan.

19). Can You Afford to Have Bad Credit?
How much does bad credit actually cost?

20). How to Protect Your Assets
For most people, the law and adequate insurance coverage, will protect almost all of their assets.