ADEOLA OMOLE

Stock Market Volatility

February was a wild month in the stock markets, and we all witnessed a resurgence of volatility in the markets. This weeks blog focuses on market volatility, and in particular looks at the difference between a market correction and a bear market. I also discuss the actions you can take in your own portfolio to minimize the risks during volatile market conditions.

Market Correction

A market correction is when a stock, bond, commodity or index fall 10% or more (but not more than 20%) from their recent highs. The market correction that occurred in February was officially labeled a correction on February 8, 2018. On this day the Dow Jones Industrial Average (DJIA), and the S&P 500 were down more than 10% from their recent highs, which were reached in January 2018. Market corrections occur during bull markets (characterized by rising security prices, and general optimism and confidence in the markets), and are typically temporary events. 

However, the...

Love and Money

This weeks blog is all about Love and Money. This Valentines Day, I wanted to take this opportunity to talk about the importance of learning about your partners financial goals and dreams, and also learning their money type.

Valentine's Day is so heavily focused on buying flowers, candy and jewelry for your spouse, but rarely do you hear people say how they want to give the gift of financial intimacy. Well, I for one think that one of the best things we can do for our partners is to learn more about their money goals, so we can work towards having a harmonious financial relationship, where we support each other in reaching our goals.

Money Type

Take the time to find out your partners money type. Find out if your partner is a natural born saver, a natural born spender, or a hybrid of the two. Also set up a monthly financial meeting with your partner wherein you discuss your various financial goals. You'll be surprised what you learn about your spouse during these...

Summary

Hi everyone! In this weeks video blog I talk about Zombie Debts. Zombie Debts are old debts that you may have thought had already been paid in full and resolved, however, they come back from the financial graveyard, and typically fall into one of the following 3 categories:

1. This is debt that you have already paid off;

2. This is debt you don't even remember having; or,

3. This is debt you remember owing, but have never paid off.

Request Proof of the Debt

Whatever you do, please DO NOT send a payment to the creditor to try to "get them off your back," Instead, if you're faced with a zombie debt I want you to request that the debt collection agency or creditor send you a letter that outlines all the information related to the debt.

Statute of Limitations

Every jurisdiction, may it be in the United States, Canada or elsewhere in the world, has a Statute of Limitations, and the duration of the Statue of Limitations will be different depending on where you live. ...

Summary

Hi everyone! The topic of this weeks video blog is "Mind Map Your 2018 Goals." For most people goal setting is a linear exercise whereby you write down your goals on a sheet of paper, and proceed to hit your targets throughout the year. The benefit of Mind Mapping your goals, is that it takes the goals from being one dimensional to being 3D and visual. You can use any size of paper you choose, but I would recommend using poster paper for this exercise.

Enter the year "2018" in the center of the map, and proceed to create different spokes that project outwards from the center of the map. These spokes represent different "themes" in your life. These "themes" will eventually be broken down further into your specific goals. My themes are:

1) Family,

2) Money,

3) Career,

4)Health & Fitness,

5) Mind,

6) Love,

7) Skill Building, and

8) Community.

Make sure to enter 2 or 3 detailed goals under each theme. You can also add images to the mind map that symbolize the goals that you...

Summary

Hi everyone! The topic of this week's video blog is "Debt Repayment Mindset." This topic is an extension of my last video blog whereby I listed the 5 financial goals that I hope you add to your 2018 goals. When I was on my own personal journey of paying off over $70,000 of consumer debt, I needed to get into the right mindset in order to pay off my debt. I find the debt-repayment process to be 80% mindset and 20% execution.
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It was only after I created what I call my Debt Motivation Statement that I truly began effectively paying back my debt, and ultimately paid it ALL off! With the Debt Motivation Statement you need to find that one thing that absolutely gets you revved up and excited when you think about it; it is the reason WHY you are embarking on the debt free journey. Once you find your motivation then you are ready to begin your journey.
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Once you find out what motivates you to crush your debt, write it down, then post the statement in a high traffic location in your...

Summary

With 2018 just a few days away, it's that time of year to start seriously considering your personal and professional goals. Therefore, the topic of this weeks video blog is my interpretation of the top 5 Financial Goals of 2018.  I hope you're able to incorporate some of these financial goals into your overall 2018 goals. If you want to increase your likelihood of successfully completing these goals, then make sure to write them down, as studies have shown that those who write down their goals significantly accomplish more goals than those who do not write down their goals.

Here are the 5 financial goals I would love you to incorporate into your overall 2018 goals:

(1) Get Out of DEBT - If you have any type of debt, make it your mission to start paying it off in 2018;

(2) INVEST in the Markets - If you haven't already started investing in the markets, it's time to begin investing in the markets, and time to start building your wealth;

(3) Build an EMERGENCY Fund - You...

Summary

This week I talk about my Supercharged Financial Strategy, which is a two part strategy that I created after I paid off over $70,000 of consumer debt, in less than 3 years. Here's what the strategy entails:

1) Supercharged Debt Repayment Plan -  the first part of the strategy is the Supercharged Debt Repayment Plan, also known as the SDRP plan, and it entails taking various actions that will help you crush your debt fast;

2) Supercharged Wealth Accumulation Plan - the second part of the strategy is the Supercharged Wealth Accumulation Plan, also known as the SWAP plan, and this plan shows you how to build your wealth in a stealth fashion.

The fundamental premise of the Supercharged Financial Strategy is that it arms you with the tools tricks and actionable steps required to pay off your debt. If you have been struggling to pay back your debt, the Supercharged Financial Strategy arms you with the knowledge you need to annihilate you debt,...

Summary

Hi everyone! The topic of this weeks video blog is "Trust Yourself." In this post I share an experience I had about 10 years ago when I hired an investment adviser to manage my family's money. At the time I was just beginning to invest in individual stocks, but did not trust myself enough to do it all on my own. I proceeded to put my trust in the hands of this investment adviser, and subsequently lost tens of thousands of dollars. I take full responsibility for the loss of funds. However, I realize now that had I just trusted myself enough to invest my own money, I would have avoided losing tens of thousands of dollars. 

Although the situation was hard to endure, I would not have changed any part of this experience.  It is now part of my money story, and I can proudly say that I'm a lot stronger because of what I endured. I believe these types of situations help build your character and resilience, and I attribute some of my current investment success to this...

Summary

This week's post is all about Maximizing Your Returns! In a nutshell, when I say Maximizing Your  Returns, I'm using the term to refer to the importance of signing up for company benefits and government benefits that may be available to you. Especially, the importance of participating in programs that give you free money, such as an employer sponsored savings plan, whereby the employer matches your contributions up to a certain percentage.

Employer Sponsored Savings Program/Retirement Program

If you are fortunate enough to have an employer sponsored savings plan or retirement plan, whereby your employer matches your contributions up to a certain percentage, you need to reap the benefits of such a plan. For example, if your employer offers to match your contributions up to a certain percentage, you need to make it your mission to contribute at least up to the matching level that your employer is offering. If your employer matches you 10, 15, or even 25% match, that would...

Summary

With Black Friday coming up this week, I decided to make the topic of this weeks post something I call "Spend Passion Cut Junk." This phrase means that you should focus your spending on things that you're passionate about. Spend your money on things that drive you, and things that get you excited. On the other hand, do absolutely everything in your power to cut spending on things that do not matter to you. In other words, stop spending on JUNK!

This concept is rather intuitive, but most people do not make a conscious effort to focus their spending. instead, it is common practice to just buy something because it's on sale. I want to challenge you to ask yourself this question before you buy something simply because it's on sale: "will I still be as excited about this purchase as I am right now in one or two years time?" If the answer is NO, then don't buy it. Instead, spend your money on things that result in you answering YES to that same question.

This is a trick that I...