Financial Freedom Press

If you’re like me, you are wondering what season we are in and how did the end of 2023 arrive so quickly?! For us, we took a long summer break so that we would be rested and ready to care for our clients and families as well as being more intentional and consistent in the care for ourselves. I hope that you will find the time to do the same.

I know that so much has been happening in the world lately, so this will be short. We are, as hopefully everyone in the world, saddened by the horrific stories of the loss of innocent lives abroad and the escalation of bigotry that we see here particularly in the United States towards Jewish and Muslim citizens is intolerable. War is never going to bring about peace.

People are not only worried about the aftermath of war on civilians but also the effect on financial markets and on our ability to maintain the level of comfort that we have been used to. This gives us more reasons to hold close those people, places and things we are grateful for.

I hope you are following us on Instagram, Facebook and LinkedIn so that you don’t miss important updates and tips on how to save and be proactive. We are doing what we can to keep up with all of the latest laws and updates in the financial world and passing it on to you either here or on our social media. You may feel that this isn’t the right time to be focused on your business, but I believe that this is all the more reason to focus on growing your business so that it will help sustain you and provide you with the ability to contribute to the causes you care about.

November is full of opportunities to learn about people, places and causes we can support, and we’ve captured just a few here. Learn about the original trustees of this land as you honor the Native American Indian, discover the origins of El Dia de los Muertos ,support the cure for diabetes and/or Alzheimer’s or consider adoption. If you don’t itemize, you are able to deduct $300 per person ($600 for couples) on your 2023 tax return.

We also rebuilding The Restoration Station, our community membership portal! In the spirit of Harriet Tubman, I feel it’s my duty to usher everyone to financial freedom. Our Restoration Station was opened a few years ago as a Facebook group, but we wanted to provide a space that wouldn’t be monitored by Meta and that those who choose not to interact with the Book could join a community and have access to the support they need on a regular basis. The “station” will have three tracks – Individual, Business and Non Profit – each will provide access to workshops, guidance, live Q&A “office hours” where you can ask any money questions you want and other resources to help you start or expand your business or personal goals. We wanted to create a no-judgement, low cost space for our community to be able to access the information they need to activate wealth without breaking their budget. We will still continue to offer one on one coaching and accounting and bookkeeping packages, but this will be a fun community supported option. Look out for the announcement about the Restoration Station in the November 15th email!

If you are not tired of reading, here’s a sneak peak at a post that will appear on our social media next month. Since you’re a valued subscriber, you get early access.

Wishing you more time to rest, and the opportunity to experience peace and joy before the next issue. Stay well and take good care of yourselves! ~ MTA

P.S. Don’t forget to turn your clocks back on November 5th!

COMMON FINANCIAL MISTAKES TO AVOID:

Not Having a Financial Plan: Creating a clear and comprehensive financial plan is crucial as it serves as the foundation for your financial success.

Living Beyond Your Means: Living within your means, budgeting effectively, and avoiding unnecessary debt are fundamental for financial health.

Not Saving for Retirement: Neglecting retirement savings can have long-term consequences, making it essential to prioritize retirement planning.

Neglecting Emergency Savings: Establishing an emergency fund to cover unexpected expenses is a vital step in achieving financial security.

Ignoring High-Interest Debt: Prioritizing the repayment of high-interest debt, such as credit card debt, helps reduce interest costs and improves your financial stability.

Not Diversifying Your Investments: Diversifying investments across asset classes reduces risk and creates a more balanced portfolio.

Failing to Review and Adjust Your Plan: Regularly reviewing and adjusting your financial plan to accommodate changes in your life and financial circumstances is essential.

Overreacting to Market Volatility: Maintaining a long-term perspective and avoiding impulsive decisions during market downturns is crucial for investment success.

Not Seeking Professional Advice: Consulting with financial advisors, tax professionals, or estate planners can provide valuable guidance for complex financial matters.

Ignoring Tax-Efficient Investing: Implementing tax-efficient investment strategies helps minimize tax liabilities and maximizes returns.

These mistakes cover a wide range of financial aspects, from budgeting and saving to investing and planning for the future. Avoiding these pitfalls can significantly improve your financial well-being and help you achieve your financial goals.

If you need support with financial planning for your business or home, consider scheduling our Sleep Better At Night one hour consultation to help you get clarity on the steps to financial freedom!