Event box

Finance Club

Finance Club

JAN  2019

Hi every one! 

Wow!  After a very challenging year, here we are in a brand new one! Whew!!

This year, we begin our 7th year at the library?!!  Whoa!  Can you believe that??!!!  Where has the time gone?!! But most important to remember is that the club is possible thanks to all of you and your support, it only gets better as we “grow” along!!

So then, what great things do you have in store for your New Year?  ANY NEW YEAR’S RESOLUTIONS?   We always say,  wealth is not only money; it’s friendship, camaraderie, good health, appreciation, thankfulness, more knowledge,  and a whole bunch of other things that money cannot buy, but it can be used, and used well!!!

In keeping with our tradition, we ended the year just before Christmas, in light of the numerous parties, shopping and rushing about that is going on that time of year. This year, we will start Tuesday the 15th of January, 2019.  Hopefully, you have taken this “down time” to assess the past year, make adjustments, if any, to last year’s plan and lay out goals for the upcoming year.  (For me, first and foremost, it’s another car on the short horizon!!!!)

As we did last year, here are some questions for thought-

  • What have you learned? Has the knowledge helped you in your financial understanding? Are you making any changes? Are you making any money? Are you growing money?
  • What would you like to accomplish (financially) this year?
  • Were you wealthier in 2018 than you were in 2017 and 2016?
  • Has the book club helped you? If so, in what way?
  • What subject(s) would you like to see discussed in 2019 that could help you further?
  • What books would you like to read in 2019? (Remember, this is YOUR club, I’m just the facilitator!)

We will discuss any ideas or plans you have on Tuesday, when we meet.

Also, as it is a tradition now, please bring the following:

  • Your Income statement for last year (2018)
  • Cash flow statement
  • Net worth statement
  • A current credit card statement (we have had many discussions over credit cards!)

This is for your own information; I do not look at it, nor are you required to share any personal information with other members.  

Before we ended the year in December, we were in the midst of learning about “Technical Analysis” with regard to stock selection.  Over the holidays, you were to select one or two companies and follow their stock chart activities..  This was strictly voluntarily, of course.   If you have data, bring it with you to the meeting.  If not, don’t sweat it!!!  We’ll start the year off with a bang anyhow!! 

Again, for the beginning of the year, we will actually fashion a plan for growth (this is along with your financial advisor, if you have one), so you can see (consciously) where you have been to fashion a plan of where you are going (or want to go).

For this year-

  • I would like to make sure we play the stock game, with an emphasis on tech analysis and short/selling. Our aim is to be State Champions this time!
  • I would like to focus on Annuities and how to use them for wealth. Still working on getting a guest speaker to discuss in depth
  • We will, again, “review the various financial instruments available to us to use and their effect on taxation.”  I think you have a loose outline of it, but for the New Comers, I will forward the details.

As usual, please make a book selection for the month of February.  We do not want to get away from our reading!

Other activities are-

  • A few films to enhance our monthly book selection;
  • Play a short corporate version of Monopoly (and put to the test all you have learned) in which we will buy and sell companies instead of real estate, (if all agree);
  • Continue to play the “money game,” and craft a plan of what to do with all we have accumulated from the game.  We started this game last summer and, this is good exercise for thinking about how (where?) to allocate your assets.  If you have continued since then, I will ask you to update on how much you have and what you’ve done with the buck$!  (Only if you care to; though we all learn thru sharing!)

Well, that’s what’s in my head:  what do YOU want to see offered?!!!!!

See you Tuesday, 15th January, weather permitting!

Best,

CT

1. “Fatten Thy Purse” (Yours!)

2. What Is The Effect of Taxation of Financial Decisions

3. Pay Money Out Slowly; Take Money In Quickly

4. Not A Dime Before Its’ Time*

5. Never, Ever, Ever, Take Out A Loan On A Depreciating Asset!

No Professional Advice is given. Topics discussed in the book club and/or workshops or e-mail are informal and for informational purposes only, which should not be construed as advice. No action should be taken based upon any information discussed.   Always seek the advice of a competent professional.

No Legal Advice is given. The topics discussed may contain information on many legal subjects; however there is absolutely no assurance that any information touching on legal matters is true, correct, or precise. The legal information is of a general nature and cannot substitute for professional legal advice. Always seek the advice of competent counsel with any questions you may have regarding a legal issue. As legal advice must be tailored to the specific circumstances of each case, and laws are constantly changing, nothing discussed in the Book Club or workshops or e-mail should be used as a substitute for the advice of competent counsel.

No Financial Advice is given. The topics discussed may contain information on many financial topics; however there is absolutely no assurance that any information touching on financial matters is true, correct, or precise. The financial topics discussed in the Book Club, workshops or e-mail are for general information only and cannot substitute for professional financial advice. Always seek advice of a competent financial advisor with any questions you may have regarding a financial matter .Information discussed in the Book Club and/or workshops or e-mail is not appropriate for the purposes of making a decision to carry out a transaction or trade nor does it provide any form of advice (investment, tax, or legal) amounting to investment advice, or make any recommendations regarding particular financial instruments, investments, or products.

Some of the information may be sensitive to the person presenting it.  This is a “safe” bookclub, meaning, each person must feel comfortable enough to share with us, if they wish, without fear of their “business” being discussed (listened to) outside of the club; whether in person or on a recording.  Therefore no recording devices, smart phones (recording) or otherwise, are permitted.  This gives respect to our club and each other.

*© Christine Taylor, 2013-2019. All rights reserved. Unauthorized use and/or duplication of this material is strictly prohibited.

*Clayson, George, “The Richest Man in Babylon” (1926)

FACILITATORS

Jan 2019

Date:
Tuesday, June 4, 2019 Show more dates
Time:
6:00pm - 8:00pm
Location:
Bloomfield - Board Room
Campus:
Bloomfield Public Library

Event Organizer

Bloomfield Library
  • reference@bplnj.org
  • 90 Broad St.
    Bloomfield, NJ 07003
  • 973-566-6200

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