Posts by jsangl

In this series, I will be sharing some key wagon staplers – tools that I believe are essential to keeping one stapled to the wagon – because we all have the potential to fall off the wagon – these wagon staples’ will help keep you on the wagon even in your moments of weakness!

Part Three Establish accountability AND embrace it!

If you are wanting to lose weight and get into shape, accountability to someone else is essential.   When you know that your accountability person will be at the gym at 5AM waiting for you, the chances are much greater that you will show up!   The same is true for your finances.   When you know that you will have to drive that 100%-financed car over to your friend who is holding you accountable, you are much less likely to buy a car with 100% financing!   Even more so when that person holding you accountable is your bride!

If you are married, it should be obvious that your spouse would be your number one accountability to your financial plans!   They know your weaknesses the most, AND they can really help you stick to the plan.

It is important that the person who is going to hold you accountable also possesses the following characteristics:

• Winning with their own money!
• Not trying to sell you anything!
• Available to you – so that when you are making a major financial decision, you can have ready access to their thoughts!

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In this series, I will be sharing some key wagon staplers – tools that I believe are essential to keeping one stapled to the wagon – because we all have the potential to fall off the wagon – these wagon staples’ will help keep you on the wagon even in your moments of weakness!

Part Two Have a budget AND follow it!

There is nothing more important to remaining on the wagon than to prepare a written plan for every single dollar you are expecting to receive.   Whether you choose to plan your spending every week, once a month (my favorite!), or once per quarter – the importance of this activity simply can not be overstated!

I have discovered a key fact that the following formula is true for every single one of us:

INCOME – OUTGO = EXACTLY ZERO

Regardless of whether one earns $400/month or $40,000/month, you will not prosper if you spend more than you make.

The act of planning forces one to recognize that this fact is true and helps staple us to the wagon!

Application in my own life – I have prepared a written spending plan with my bride every single month since July 2003.   I can not imagine operating my life without this plan.   It has allowed me to fire myself from Corporate America and pursue this dream of helping others accomplish far more than they ever thought possible.   It has brought a new level of unity to my marriage.   Our planning has ensured that our children’s college is funded and that we will be able to retire well someday.

Helpful tools and resources

• We have some AWESOME & FREE budget tools located HERE.
• Book: I Was Broke. Now I’m Not. – my story and I teach the exact tools that my bride and I used!

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“They keep falling off the wagon.”

Surely you have heard this statement made before.     It can refer to relapses related to an addiction or failing to uphold an exercise plan or diet.

Falling off the wagon.

I see it occur far to often when it comes to personal and business finances.   People know what they need to do, but they fail to follow through.   They might even know that their actions will result in great anguish and stress, yet they choose to continue.

Falling off the wagon leads to pain, heartache, frustration, stress and can have long-lasting consequences.

In this series, I will be sharing some key “wagon staplers” – tools that I believe are essential to keeping one “stapled” to the wagon – because we all have the potential to fall off the wagon – these “wagon staples’ will help keep you on the wagon even in your moments of weakness!

This should be a great series, and I look forward to the conversation!

Read the entire series

Read recent posts by Joe

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This is a continuation of The Mutual Fund Series here on JosephSangl.com.

During each part of this weekly series, we will be looking at a specific mutual fund company.

Today’s company is Franklin Templeton Investments.

Franklin Templeton is a global organization known for frugal and conservative investment management. The company is based in San Mateo, CA and serves in more than 150 countries with offices in over 30 countries. They currently manage $586.8 billion in investments and the number of investments is continually growing.

What I Like About Franklin Templeton Investments

• Stable History – Franklin Templeton was founded in 1947 and for 63 years it has maintained stability and success.
• Diversification – Franklin Templeton Mutual Funds offers 11 types of mutual funds for investors: International, Global, Growth, Value, Blended, Hybrid, Sector, Asset Allocation, Fixed Income, Tax Free Income, and Money Funds.
• Globalization – Franklin Templeton has offices in countries representing 84% of the World’s GDP and the company is the second-largest cross-border fund manager.
• Strong Capital Management – Franklin Templeton has been given strong credit ratings with a stable outlook from both Standard & Poor’s (AA- / A-1+) and Moody’s (A1 / P-1). The company’s dividend has also increased every year since 1981.
• Variety of Products and Services– Not only does Franklin Templeton offer mutual funds, they also offer 529 College Plans, Coverdell ESA’s, IRA’s (Roth and Traditional), and multiple online financial tools.
• Easy Transfers – If an investor has a change in their investing objective, they can easily transfer from one fund to another, with little or no cost.

What I Would Like To See Improved

• Minimum Investment Required – Franklin Templeton’s minimum investment required is $1,000, which is lower than the previously mentioned Vanguard and Fidelity, yet it is still four times higher than a mutual fund from American Funds.
• Charges and Fees – Franklin Templeton offers very few no-load mutual funds (shares sold without commissions or sales charges). About 82.4% of funds are load mutual funds and about 17.6% are no-load funds. A no-load mutual fund usually outperforms front-end load (when fees are charged at the time of purchase) and back-end load (when fees are charged at the time the mutual fund is sold) mutual funds.

Franklin Templeton Mutual Funds I Own

I do not currently own any Franklin Templeton mutual funds.

Franklin Templeton Mutual Fund To Look At

• Franklin Growth Fund [Ticker: FKGRX] – The Franklin Growth Fund primarily invests’ in common stocks, across a variety of industries. This fund has net assets of $2.4 billion with an annual fee expense ratio of 1.00% and an average annual return of 9.92% since inception.

Read about other mutual fund companies

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NOTE:   Clemson student Anna Briscoe, a senior majoring in Economics with a minor in Financial Management has been so gracious to research and write the majority of this post.

This is a continuation of The Mutual Fund Series here on JosephSangl.com.

During each part of this weekly series, we will be looking at a specific mutual fund company.

Today’s company is Oppenheimer Funds.

Oppenheimer Funds is an asset management company with headquarters in New York, NY, with $255 billion of currently managed assets. Founded in 1960, Oppenheimer Funds was affiliated with the brokerage firm Oppenheimer & Company, Inc. However, Oppenheimer Funds is now owned by Massachusetts Mutual Life Insurance Company (Mass Mutual) and has no corporate ties to Oppenheimer & Co., Inc. or Oppenheimer Capital.

What I Like About Oppenheimer Funds

• Diversification – Oppenheimer Funds offer 12 types of mutual funds for investors: global, growth, large growth, value, quantitative, portfolio solutions, taxable bond, municipal bond, specialty, money market, cash reserves and institutional. However, Oppenheimer Funds has become well-known for their niche with bond funds in the mutual bond market.
• Variety of Products and Services – Oppenheimer Funds offer other products and services, such as IRA’s (Roth and Traditional), 403(b), 401(k), 529 college plans, and Coverdell ESA’s.
• Award Winning Website – www.oppenheimerfunds.com was designated as Excellent by DALBAR in 2009 for the websites functionality and usability.

What I Would Like To See Improved

• Minimum Investment Required – The minimum investment for OppenheimerFunds is $1000, which is the same as Franklin Templeton: not as high as some mutual funds, but you could find it lower elsewhere.
• Front-End Load Funds – Many of Oppenheimer Funds’ top rated mutual funds by Morningstar carry large front-end loads of 3.50% to 5.75%, which will start off your investment with a 3.50% to 5.75% LOSS! Even worse, only 8.7% of Oppenheimer Funds’ assets are no-load funds.
• Fund Performance – Oppenheimer Funds owns several five-star and four-star mutual funds as of February 2009, which are excellent ratings; however, the company’s municipal and taxable bond funds have recently experienced poor performance.

Oppenheimer Mutual Funds I Own

I do not currently own any Oppenheimer mutual funds.

Oppenheimer Mutual Fund To Look At

• Oppenheimer Equity Fund Inc. [Ticker: OEQAX] – This mutual fund’s inception date was October 2, 1947 with a focus on investments in medium to large-capitalization companies. The fund has assets of $1.62 billion, an average annual return of 9.54% since inception, and an expense ratio of 1.03%.

Read about other mutual fund companies

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NOTE:   Clemson student Anna Briscoe, a senior majoring in Economics with a minor in Financial Management has been so gracious to research and write the majority of this post.