Well, getting your finances in order is
one of the top New Year's resolutions
for people every single year.
So financial expert Marc Lampkin
is here with the five New Year's
financial resolutions that will start
your year off right after New Year,
my friend, look at you.
I'm waiting for Lampkin. I'm waiting
for the the coach.
I've got weight to lose.
I'm waiting for the coach.
I've gotta learn this from her.
Yeah, right. But you, you,
I cannot even imagine.
Like, do you set New Year's resolutions?
Because I can see you wiping those out,
like in a week.
And I'm I'm I'm a winner.
Winners win losers lose stay with
them and seen alright let's talk
about financial resolutions because
it's so true Mark because a lot
of people they're like this is
the you know they always set the
weight loss goals they set the the
style goals are are job goals but
finance is one that is always top.
It's hard because if people have debt
and you want to save that's really
hard to to stick to something like that
my argument is that financial resolutions.
Really hardest resolutions to
stick by because you never know
what's gonna come up, right?
When you think of the market,
you know how that kind of impacts it.
It could discourage us a little bit, right.
Think about this. The bond market,
we've been trained to say that's the
safest investment out there anymore.
It was the worst market in history for bonds.
And that's supposed to be your
platform, right? Yeah, yeah. SP off
15%, NASDAQ off 25%.
People lost a third of their
investments last year.
So what do you do?
You regroup this year with Mark's top
five goals, that's. What is goal #1
#1? Education is power.
The the number one mistake I see people
make not only in finance but in life
is they're not educated on something
and they make emotional decisions.
The less education you have on something,
the more emotional decisions you're going to
make and you'll make that knee jerk reaction.
Or you go to Google.
And if Abraham Lincoln said it on Google,
it's true, right?
I mean, let's get real here, OK?
Think about that.
Yeah, education is power.
Get the Wall Street Journal
college professor.
Mine just told me. And if you just.
Read the front page of
every section for one year.
You'll be amazed of what you learn.
Take an online class, Dave Ramsey,
Dave Ramsey's financial peace.
If you're starting out child,
grandchild, or if you're behind.
I'm not in any way affiliated with them,
but that's the best book I
tell people to start with.
Education is power,
especially when it comes to money.
Where do you begin when you make your
own personal financial statement?
What do you need to put together to kind
of assess where am I? That's kind of
like, you know,
you and I've talked about this before,
you know, if you're going to vacation.
And you just jump in the car.
Are you just going to just
drive and see where you end up?
No. Most of the time no.
You know how do you know how to get
there if you don't know where you're at?
And from a financial statement,
mint.com is a very easy one
and simple one to start out.
And it's free.
You can go in checking savings IRA,
stocks, bonds if you have those,
or if you don't,
you can set savings goals and
they can send you alerts to your
phone if you're not hitting it.
Acorn.com.
I mean you.
Yes you can do it rounds up and puts money
into a mutual fund or savings account,
but until you take that stock.
Of where you're at and you can
pull it up and it attaches to
your bank account and your mutual
funds and automatically download.
So every week, every quarter,
every six months,
you can see that you're making progress.
And if you're not making progress,
that's what it leads,
right, to our next point,
right. And I think I've heard about this
one a lot because I feel like this is
the year of this theme of spend less,
save more. And it's very hard.
You don't know where to cut.
You don't know where to cut corners.
Yeah, I mean, from gas,
from food to meat beef. Eggs,
I mean that's why I got my chickens,
my man got got my free eggs
30. But you can figure out a way
whether it's it's it's expensive
vacations or holding off on
those bigger ticket purchases in
an effort to save more, right.
I came up this over the last week.
It's my new 303040 rule that
I'm going to talk about.
So 30%, we got to give the
IRS right off the bat, right.
And if you're giving the IRS 30%,
then you at least should give yourself 30%,
right? So they get 30%,
they get you get 30% and you get to live.
40% and guess what?
If you can't live on 40%,
that means you either need to cut
your expenses or raise that income.
Yeah. And so 303040,
you can go online,
get coupon codes.
You can go online ever more than ever
before to save money and buy those
and get those cheap things out there,
those gift cards at 80
percents on the dollar,
and we want to get to invest in
yourself. What does that mean?
My favorite one, right?
You're your best investment.
Your best return is yourself.
You know you can put that $3000 in an IRA.
About that stock.
But what if you took that $3000 and you
learned a new skill at work that it will
allow you to get an extra $5000 age?
Think about that.
You spent 3 to $5000 and you're
going to get 5000 more a year
for the next 20 years.
I can't give you that return.
And unless you win the $1.3
billion lottery that's out there
and you come see me right, you're
not going to get that.
Last point is, is if people do
want to visit with a financial
advisor and to visit with you,
what do you offer?
Like in your first console?
Is that a free consult?
It is a free concert. Concert.
I wish it was a concert.
I Can't Sing for squad.
Listen, Michael Jordan had a coach.
Tiger Woods has a coach.
The best athletes have a coach.
And for you,
having a coach is extremely important.
And whether it's me or someone else,
having a coach just to keep you straight,
keep you in check, make back,
keep you from making bad decisions.
Look at your retirement income plan.
Look at your investments.
How are you comparing?
You know there's the person that
finished last in their medical
school is still called Doctor.
I don't want to go to him.
I wanna go to one of the best.
So find one of the best financial
advisors that out there,
make sure you're not getting overcharged.
Have them work with you on these
five issues and I promise you,
you will be more successful in 2023.
Alright, Mark, Happy New Year.
Hey, thank you.
Wanna get in touch with Mark?
Make your first appointment,
go to lamkinwealth.com.