Should You Be Out of Debt Before Starting a Business?

You are in for a treat…I wish I had someone who had answered this question for me many years ago when I decided to leave the military and launch my business.  Where would I be today if I knew now, what I wished I would have known back then!  There are so many dynamics that impact this decision about your personal financial situation in starting a business, I am glad that Dorethia Conner can shed her wisdom to answering this pressing question.  She is also connected with me on Facebook so be sure to send her a friend request too.

Enter guest blogger, Dorethia Conner – Financial Coach

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Mortgage Payoff: Why Your Mortgage is Your Friend and How it Can Help You

In a time of change, it is critical to rethink why we believe what we believe.  Mortgages have always been a target of negative financial thoughts and something most traditional financial planners would suggest be paid of sooner than faster. After all, you don’t “want all the interest” to be going to the banks! Is it possible to have a mortgage become a wealth-building tool, rather than just the biggest piece of debt we will ever get into?  Right?  Well, one of the topics of great debate, “paying off my mortgage is a mistake” has revealed certain truths through this recession.

Five years ago, we began a movement called “home equity management“, encouraging homeowners and real estate investors to rethink about leaving home equity dormant within a property that ultimately wastes the value of this asset over time.  In fact, I helped illustrate this with a “pitcher and goblet” analogy during my workshops held during Money Smart Week with the Federal Reserve Bank of Chicago.

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Habits of Millionaires: Warren Buffet’s 10 Rules Posted at Jimmy John’s part 1

While having lunch at Jimmy John’s , Warren Buffet’s 10 Rules of Building Wealth posted on the wall made this even more of a favorite spot to eat.  I can’t help but stay motivated and fired up while I eat there!  Not only do I always receive a friendly greeting from the cashier and getting my #12 turkey w/guacamole ready for me to devour in less than 2 minutes…but I get to read the inspiring writing on the walls.

I wonder how many of us have been to a Jimmy John’s and noticed this powerful poster located on all the Jimmy John’s I have been to.  There are plenty meaningful posters all over the place so check them out the next time you go there.

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VIDEO: Rollin’ in Chicago with Real Estate on Radio’s Ron Vergara – WLS 890 AM

Would you like to accelerate your financial goals, dream towards financial independence and create a lifestlye of freedom and choice by 100 mph?  That can readily be accomplished by surrounding yourself with the right people.  Jim Rohn, Mark Victor Hansen, Anthony Robbins along with the rest of the personal development gurus will tell you that you are a product of your environment.  Choosing your friends, associates and advisors is directly related to the enjoyment, fulfillment and happiness you experience throughout your life.  Here’s a quick peek into one of my Friday afternoons with good friend, Ron Vergara of the Real Estate on Radio Show.

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