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Subscribe RSSReassess Assets
In my opinion having a realistic perspective of what exactly an asset is will go a long way toward keeping you out of financial trouble. It’s a word we through around a lot (particularly if we’re sophisticated), yet too often it’s attached to the wrong thing. I’m not sure when it happens, but somewhere along the road of life we’re programmed with a somewhat misleading representation of what assets are.
Read more »When Clouds Gather – Preparing for Emergencies
If you’ve spent much time on this site or asked me any questions about handling money you know that I always go back to the [intlink id="37" type="page"]Financial Blueprint[/intlink]. It’s such a powerful framework to help you make smart decisions with your priorities. Well there’s one time when you should take a step back from whatever blueprint step you’re working on and focus on something else – when there’s trouble on the horizon.
Read more »The Deprivation Cycle
No matter who you are or how much money you have there’s a good chance you’ve experienced the deprivation cycle. It’s that feeling of entitlement that you need and deserve something because of x or y. Work was tough today so I’m going out to happy hour. I haven’t spent money on ME lately so I’m caching in on a new video game. This is something that I have to battle with often even though I consider myself to be great at handling money.
Read more »Where to Save for Retirement
If you’ve got access to [intlink id="575" type="post"]IRAs, 401(k)s, and Roth accounts[/intlink] then where is the best place to put your money? It’s probably not immediately clear from the pros and cons, but there’s a straight forward method to ensure you’re getting the most from your accounts.
In Step 4 of the Financial Blueprint we start saving 15% of our pre-tax income for retirement. This may sound high to some people and it will probably feel high if you’re not doing these steps in order. For those of you who cut out retirement savings (like you were supposed to) to work these steps in the optimum order, this is where you will catch up and blow by those who tried to do too much at once.
Read more »Welcome!
Hi I'm Deacon Bradley, the founder of Bedrock Coaching. I started this because of the incredible life change I discovered when I decided to ditch debt and live debt free!
Bedrock Coaching teaches sound, fundamental personal finance methods that cause you to win every time. I'm committed to helping people achieve a life of financial freedom and teaching people about how money really works.
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Retirement Account Basics
You’ve of course heard that it’s important to be saving for retirement, but the jargon and choices can be intimidating when you’re first getting started. It’s a shame our education system doesn’t teach us something that everyone must understand to retire, but at least we all know the chemical formula for salt (give it a second, you know it).
Retirement savings is different then regular savings because it’s set aside in it’s own account. These accounts are tax advantaged in one way or another to incentivize you to save (because we all know how awesome social security is). With a few exceptions, once you put money into retirement savings accounts it’s stuck there until you retire.
Read more »How Much Does that Really Cost – Opportunity Cost
When people hear the term opportunity cost they are transported magically back to their tenth grade economics class. Their eyes start to glaze over as they enter their mental time accelerator and wait to emerge on the other side of the “conversation.” Now I know no one wants to sit around and talk about opportunity cost, but it hits you where it counts so pay listen up.
Read more »Is Wall Street Responsible for the Mortgage Meltdown?
What exactly do people mean when they say that Wall Street caused the financial crisis. If the pin that burst the housing bubble was people defaulting on mortgages, then who’s to say anyone but the overextended home owner is to blame?
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