Drew Miles Profile and Articles

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1). Money is Emotional
Pathfinder operates on 10 principles originating from books “Money Mastery” by Alan Williams and Peter Jeppson and “The Richest man of Babylon” by George Clason as well as information I’ve learned over the years.

Principle No. 1: money is emotional. When we make and spend money, it’s an emotional event. When we get a raise, we celebrate. When we get laid off, our routine and activities are often derailed because of it.

2). Wealth Building Tips from Drew
The big O—Organize!
Get organized, period. Pathfinder advocates separate files for each expense: utilities, phone, electric, Internet, auto, etc. Each month, invoices (such as repairs or maintenance) go in those files. The invoices are then categorized by group and chronologically (ex. January car bills, February car bills, etc.). When 2007 comes around, copy the file names from last year and start a new file bin for the next year.

3). Smart Yearend Planning - Tax Deductions
There are three main areas we need to keep in mind as the year ends:
1. Taxes
2. Corporate formalities
3. Planning for next year

Revisit the idea of converting your 10 largest expenses.
This is an ongoing process that should be done at least twice the first year. It’s not realistic to expect you will convert all of your biggest expenses the first time around because it’s too big of a task—this is a habit needing to be developed over time.

4). Take Waste Out Of Your Spending
Buyer Beware:
The ability to save money has nothing to do with income. Take waste out of your spending and you’ll drive the haste out of your life. Continue to learn “the rules,” as they’re always changing.

Learn the rules
We’re not taught “the rules” in school—high school, college, law school. So we go through life in the dark, not understanding why it’s so hard to get ahead.

5). Why is it so hard to get ahead?
My grandfather bought his house for $6,500. He had no retirement after 20+ years of working for the same employer. They gave him $100 each month in lieu of a retirement check. He saved more than $200,000 over the course of his life. My grandfather clearly had respect for money. Our culture today has lost sight of this respect.

Today’s generation fears not that they won’t have something, but that they won’t have everything.

6). Pay yourself first
Schools do not teach thrift: college, high school, junior high—our system doesn’t place a high priority on frugality. And what a shame. We should put money aside regularly using a simple system—pay yourself first.

For example, when you pay your utility bill, pay yourself first. I’ve talked to people who have mastered saving money who have become very wealthy.

7). Entity Structuring
Entity structuring is the use of limited partnerships, limited liabilities, and corporations. These can help you accomplish three things:
1. Bullet-proofing your assets so that the bad guys are worse of if they try and take them away from you.
2. Slashing your taxes so that they are within single digits.
3. Protecting your privacy and building lasting wealth.

8). Heads up on co-signing loans
In my opinion, if you co-sign a loan with a family member or a friend, you’re looking for trouble. Granted, if you want to help your child buy his first car, you may need to co-sign because the child does not have credit history yet. The danger is that if your son makes a late payment, the bank will come to you to pay it off. Be extremely judicious who you co-sign for.

9). Tips to Avoid Identity Theft
What is rampant, spreading like wildfire and can kill life as you know it? No, not a deadly virus (but close). Answer: Identity theft. My stepson, Aaron, was a victim of identity theft recently. Someone stole his bank cards, deposited fake checks into his account, then withdrew cash. The deposited fraudulent checks and overdraft charges hurt his credit, and he’s slowly recovering and rebuilding his score.

10). ROI-calculating accurately
The phrase "return on investment" (ROI) is thrown around a lot, but do you know what it really means and how to calculate it?

Three ways to calculate ROI
Cash-on-cash If $20,000 is invested and it grows by $10,000, it’s a 50 percent cash-on-cash rate of return, which is great for wealth building.
Total amount of investment If you put $20,000 down for a $200,000 mortgage, the growth is happening on the $200,000, not what you originally put in.

11). Emergencies-Are you prepared?
A young man got into a car accident resulting in many bedridden months in the hospital and $100,000 of debt in hospital bills. Pathfinder’s “Mastering Your Money” series originated from this true story. The young man decided to pay off his debt in small amounts each month instead of filing for bankruptcy. When he was released from the hospital, he got a job, generated a modest income and stuck to his plan of paying his doctors $5 each week.

12). The Two Biggest Thieves In Regards To Wealth Building
The two biggest wealth thieves a person will encounter are tax deductions and lawsuits. Taxes work against you by chipping away at your wealth. These include federal income taxes (deducting up to 39% of your income), state taxes (deducting up to 9.6%), and self employment or social security (over 15.5 %.). The average American is paying 42-55% in taxes.

13). Financial Vertigo
Although Pathfinder focuses on generating money, this lesson covers one of the biggest misconceptions we have about money: if we make more money, we’ll be better off. It doesn’t matter how much money we make, but rather how we spend and save it. Take two Pathfinder clients as examples: Client A worked at Home Depot making $30,000 a year and had his finances in order and spent less money than he made.

14). Action Plan: How to power down your debt NOW
It will take you on average between 25 to 30 years to pay off your credit card at the minimal amount. This will not do.

Make a list of all of your credit cards (including all consumer debt such as doctor bills, furniture stores and your home).

List the following in columns: the type of credit card, principle amount, regular payment amount, power down payment, interest rate, total number of payments left on the card, estimated payoff date.

15). Repairing Your Credit Report
Fixing your credit report and repairing your credit are two distinct processes and problems. If your credit is bad, you can implement some of the strategies below to fix a low score.

Negotiate down the amount of debt (it’s easiest with private individuals). To do this, you must demonstrate the reason for falling behind. One of the tools you can use as leverage is offering something (not the full amount) rather than nothing.

16). It’s no Secret—We’re getting older and broker
Not so fun facts:
• By 2015, 77 million Americans will be over 50 years old and only approximately one-third of them will be able to retire.
• During the economic boom in 1997, the average net worth of the richest 1 percent of families was $9.7 million, while the bottom 40 percent’s average net worth was $3,000.

So if your net worth is $3,000, and you spend $3,000 each month in living expenses, you only have one month of living stored up for when you get ill, lose your job or encounter an emergency.

17). Chew slowly and digest the rules
It’s hard to understand all of “the rules” and fine print on all of our policies since we have limited time. But it’s imperative you take the time to become familiar with your coverage. Go through your mortgage, note, insurance, bank statements, employment contract, tax deductions, shareholders agreement—at least once, then briefly once a year after that.

18). How many years do you have left until you're 65?
Reality Check - How many years do you have left until you're 65?
Whether retirement is just around the corner or have many more years to go, setting yourself up for retirement is key and must start now. Do the math. If you want $10,000 and you’re investing at 5 percent, you need $3,765. If you invest at 10 percent, you’ll need $1,400. It’s great if you have a savings account (you’re ahead of most folks), but if that’s the highest form of investing you’re doing—we have a lot of work to do.

19). Uneducated Tax System v. Educated Tax System
The line under your income on your pay stub is where these two systems differ. With the uneducated tax system, you deduct the three lines under your income and the remainder is what you receive. With the educated tax system, the first line is your reported income as with the uneducated tax system. However, the second line is the money you spent on the business, and you pay taxes on what is left.

20). Smart Yearend Planning-Planning for the next year
There are three main areas we need to keep in mind as the year ends:
1. Taxes
2. Corporate formalities
3. Planning for next year

Planning for the next year

a) Operations—What are one or two areas of your business that can be improved? How can you improve your service, stay in better touch with clients, close the gaps in your system? Ask your customers, clients and employees for suggestions.

21). Views are Spectacular Off the Beaten Path
When I was practicing law, my colleagues would talk about how lucky they were to put their kids through college or. “I don’t know how we did it, but we put the kids through college , and now we’re hoping to start saving for retirement,” they’d say. In reality, they were saying much more—“Wow! We’re so lucky to barely be able to put the kids through college, now we’re just crossing our fingers that we’ll be able to start saving enough to retire.

22). Do you have good posture?
When I started saving, I wasn’t saving much. However, I developed an important habit. Whether you’ve wisely saved money or received a good tax return, don’t go out and blow it on more stuff. You can have anything you want, you just can’t have everything you want. A.F. Bannerman once shared wise advice worth mentioning here that I’ve come to agree with and respect:

“Your savings affect the way you stand, the way you walk, the tone of your voice.

23). Navigating the promotional maze
Pros and cons to three hot topics

Invited to be officer on the board—flattering or dangerous?
Officer and director liability is staggering. If a friend of yours is starting a company or charity and she asks you to sit on the board, carefully make your decision to accept or decline the position. If a mistake happens and the shareholders file a lawsuit, you could be named in the lawsuit because you’re a director or officer of the company; you are also personally liable for the salary of any salaried employees (if you’re an officer of a company).

24). A Love/Hate Relationship: How your credit score can open and slam doors for you
There are many ways to get ahead financially: attend seminars where you cut up your credit cards with hundreds of other people, participate in debt consolidation services that help you take out a home equity loan or refinance your home, or you can transfer debt on one credit card to another credit card with an introductory rate of 0% (which goes up to 12% six months down the road).

25). Project Management Industrial Safety - Types Of Industrial Safety Equipment
Industrial safety equipment is used to reduce the risk of injury, loss and danger to persons, property or the environment in any facility or place involving the manufacturing, producing and processing of goods or merchandise.

26). American Workwear Setting New Trends Everyday
What differentiates a working person from the common man on the street? The apparel, of course!

27). Using Hi Visibility Apparel to Be Seen
When it comes to your safety, no cost is too great. However, this does not mean you have to have an enormous budget to purchase the safety gear and work wear you need.

28). Offering Solutions for Your Cloth Neck Shields Needs
When it comes to your protective headgear, you will find a copious number of options become available to you. There are many highly reputable and reliable headpieces to offer you the extra protection you need on or around the jobsite.

29). Project Management Begins with Keeping Employees Safe Get More With Your Hard Hats
When it comes to staying safe, we all depend on our work wear to compliment the safety devices we utilize on a daily or regular basis. There are many professions were men and women choose to utilize various types of head protection.

30). Winter Liners: Staying Warm, Staying Safe
As winter rears its icy, cold head, more and more men and women turn to bundling up when they head to work. There are hardworking men and women who need that something extra that comes about from added protection not because they are running to and from the vehicle, but these men and women work in the winter months.

31). The Best Americana Hard Hat In The Industry
There are few manufacturers of protective headgear that offers more to you, the hardworking man or woman, than Americana. That is why when you go searching for 4 point suspension protection, you choose the best Americana hard hats in the industry.

32). Going Outdoors? First Aid Kits Can Bring Benefit
There is nothing as beneficial as being prepared for the unexpected. Perhaps you cannot be prepared for everything, but when it comes to accidents or injuries, there is literally no excuse not to be prepared.

33). Camping Can Be Dangerous - Hand Protection Work Gloves Can Keep You Hands off the Poison Ivy
When it comes to safety gear, one of the most common pieces may just be safety gloves. There are hand protection work gloves for just about any circumstances and situations.

34). Trust Your Hands To Cut Resistant Gloves
There are times when you need extra protection in and around your home, office, or worksite. You trust the reliability and protection offered by safety gear, and there is safety gear designed to protect about every part of your body.

35). When You Need Chin Straps And Only The Best Will Do
When it comes time to add additional safety to your headgear or helmet, chances are you turn to the chin straps. There are numerous types and styles of these useful accessories to allow you to have the snug fit you need while working or playing. In fact, chances are good you probably already have one!

36). How You Can Benefit From Coated Gloves
There often comes a time that you will discover having simple safety hand gear is not enough. You need heavy duty, and you need it to be perfect.

37). Using Anti Glare Guards Is Professional And Safe
When you get to work, you may be the type of person who puts on a hard hat or bump cap and prepares for your often hazardous and dangerous day. The last thing you need to worry about is the sun getting in your eyes, or worse, the sun glaring off your helmet! That is why more and more professionals and hard working men and women are turning to the hard hat accessories for their answers.

38). A Guide To Leather Jackets
When it comes to the outerwear we utilize on a regular basis, few things are as cherished or revered as the leather outerwear we use on a regular basis. There is however, a variety of leather for us to choose from. Each offers us something unique.

39). Painter Pants: Superior Quality, Perfect Functionality
Getting the best professional garments for your choice of careers is an important part of your image and motivation. When you look and feel your best, you simply do better when you are doing your job. This often means you will find yourself in need of painter pants especially if you happen to be a professional or a casual painter.

40). A Boot Camp To Improve Your Chip Shots
Are you frustrated with your short game? It happens quite often. You feel like you have put in your time at the practice facility and do not know what to do next. Knowing the fundamentals of a chip shot will help you get the golf ball close to the hole or chip in. This will quickly lower your scores and your golf handicap.

41). 7 Secrets To Keep Golf Fun For Juniors
The putting green is the best place to introduce kids to golf by putting. Once an "understanding" is developed, close to the green chipping should be introduced. As the junior golfers get farther away form the green pitching will be introduced and finally the full swing.

42). What Should You Expect From Golf School?
So, you are going to go to a golf school! What are your golf school expectations for your experience? As you are very excited to set your golf school expectations and get your golf game on track, you stop and think. How can I best prepare myself to get the most out of the golf school? Below are some things to expect and some tips to enjoy your decision.

43). Smart Yearend Planning-Corporate Formalities
There are three main areas we need to keep in mind as the year ends:
1. Taxes
2. Corporate formalities
3. Planning for next year

The power of documentation—shifting the burden of proof
For those who have an LLC (opposed to a sole proprietorship, S Corporation or C Corporation), it’s always better to over-document. By keeping a tax diary, you shift the burden of proof from yourself to the IRS, who then has to disprove its validity.

44). Fashionable Service Apparel: When You Demand More
Working class men and women, professional men and women, and everyday men and women find that service apparel offers numerous benefits that are unbeatable in the fashion industry. There are so many types of service apparels on the market today that you can literally find anything you are looking for without blinking an eye.

45). Hotel Uniforms Extending Your Brand to Your Staff
The idea behind a uniform is to identify a person as being part of an institution be it a school, factory or a hotel. Hotel uniforms are a must for any kind of hotel.

46). Housekeeping Uniforms, Dresses, & Skirts
Housekeeping is an interesting job or career where things are always changing, and even though you may work in a less than clean environment, you are required to always look clean and professional. Having appropriate housekeeping uniforms, dresses, or skirts for your cleaning tasks is a necessity that simply cannot be ignored.

47). Do Not Buy Corporate Work Uniforms Until You Read This
The right work uniform is certainly one of the most important investments you will be making for your business. The uniform is what will set the standards for the comfort and look of your employees, and even dictate what kind of impression your business makes on your clientele.

48). Replacement Brow Pads: Something New For Something Old
When it comes time to keep you safe, almost no cost is too great. However, this does not mean that you have an endless budget to keep you and your livelihood safe and secure. In fact, when it comes to safety gear and/or safety accessories, you will find numerous types and pieces will be only pennies.

49). Stay Organized On Your Project Jobsite: Add Carpenter Pencils To Your Hard Hat
When it comes to getting prepared for work, you probably grab all of the necessary tools for your day. You may, in fact, have a tool box filled with odds and ends you may need during the day.

50). Choosing The Head Protection Accessories You Need
There is nothing quite like the protection you get when you wear protective headgear. No matter what type of protective headgear you wear, you will find there are head protection accessories that will add versatility, reliability, and functionality to your choice of protective headgear.

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