Kevin Mercadante

June 2, 2014 by Kevin Mercadante ·

Why You Should Pay Off Debt Before Investing in Stocks

In another approach to Phase I: The Foundation Phase, Step 4, Pay Off All Consumer Debt, we’re going to emphasize the need to pay off debt before investing in stocks. While that may seem like something of a repetition of our general advice to get out of debt, it actually rates a special discussion when it comes to investing in stocks.

There’s a myth – or perhaps an excellent example of wishful thinking – that it’s possible to invest your way out of debt. That’s a process of investing and growing your money until it reaches the point where it’s greater than your debt obligations. If only that were possible. More often than not, human emotion gets in the way, and the strategy turns into a recipe for failure.
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March 3, 2014 by Kevin Mercadante ·

Why You Should Have an IRA Even if You’re in an Employer Plan

Have you ever heard – or used – the phrase, “I’m covered at work?” It comes in handy for putting off meetings with your Certified Financial Planner™. But if you’re serious about Phase II: The Accumulating Wealth Phase, you probably know already that you should never take cover under clichés. And so it is with retirement. You should have an IRA even if you’re in an employer plan.

If that sounds like overkill, consider the following . . . .
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February 24, 2014 by Kevin Mercadante ·

5 Reasons Why Debt is Not Your Friend

In Phase I: The Foundation Phase, Step 4, Pay Off All Consumer Debt, we explore the various ways to pay off debt and just as important, why you need to. One of the most compelling reasons to get out of debt is simply that debt is not your friend.

That may sound like a vague generality, or even a point that’s beyond obvious. But given the fact that it has become a cultural norm in America to walk peacefully with debt, this is a topic that deserves far more consideration than it normally gets.

If you can fully embrace the reasons why debt is so toxic, you might be able to accelerate your efforts to pay it off . . . .
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February 21, 2014 by Kevin Mercadante ·

How to Use a Side Business to Fund Your Retirement or Pay Off Debt

While trying to move into Phase 2: The Accumulating Wealth Phase, you may find it difficult to accumulate wealth with your current income alone. If this is the case, you may find that using a side business to fund your retirement – or even to pay off debt – improves your chances of success in reaching your goals.

A side business offers you an opportunity not only to increase your income, but also to create other options in your life. And in order to accumulate wealth, options are something you will most definitely need.
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February 12, 2014 by Kevin Mercadante ·

6 Ways to Break the Cycle of Debt in Your Life

In Phase I: The Foundation Phase, Step 4, we recommend that you work to Pay Off All Consumer Debt. That is a critical step in building the foundation of your financial plan.

But exactly how do you go about that if debt seems to have gotten the upper hand on you? Unlike the old Nike commercials, you can’t Just Do It when it comes to debt. Debt is usually caused by getting caught in a cycle of debt, and before you can eliminate it, you first need to break that cycle.

Here’s a blueprint to make that happen.
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January 18, 2014 by Kevin Mercadante ·

How to Build Your Basic Grubstake

Financial advisers and bloggers talk about the importance of having an emergency fund and investing money. But what if you have no money? That’s actually the situation with many millions of households across America. In fact, a study conducted in 2011 found that nearly two-thirds of US households have less than $1,000 in liquid savings.

Are you one of them?

Don’t fret about it – do something about it! That something is building your basic grubstake – that money that will enable you to both build an emergency fund in the Foundation Phase and create a budding investment portfolio in the Accumulating Wealth Phase.

There are a whole lot of reasons why so many people have so little savings. We can hash out the details, but the better approach is to go forward from where we are.

There are two basic ways to begin building savings: cutting living costs and generating new income sources. Ideally, you’ll use a combination both, that way neither will be too painful.
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