Ariah Rastegar founder of Rastegar Equity Partners, a private investment firm based in Dallas, Texas. If you’re considering working with a company like Ariah Rastegar’s, you might learn that your finances are being held back by common money issues. For example, people in their thirties are often creating problems like those below:
Combining Finances – In the thirties, many combine finances with their spouses, giving up monetary independence. If that relationship then comes to an end, you will be far less secure financially than you would otherwise have been. If the relationship does not come to an end, you will be more secure, in general, so it’s a win-win to keep your finances separate.
If you’re making this mistake, have a money talk with your spouse and discuss how having separate finances could benefit your relationship.
Delaying Insurance – When you’re in your thirties and in good health, you’re in the best possible position to buy life insurance. You’ll receive low rates that you can lock in for decades, which will guarantee a safety net for your loved ones. The same advice can be applied to disability insurance.
If you’re making this mistake, fix it by starting your search for life insurance and disability insurance today.
Before a professional like Ariah Rastegar can help you advance your wealth through investing, you’ll likely have to resolve, or plan to resolve, issues like those above. Everyone starts somewhere, though, and you will gain nothing by putting it off any longer.
Ariah Rastegar, a wealthy Texas businessman, is building an empire for himself and his family through professional and monetary strategies. Though we all hope to succeed financially, not everyone takes the time to check for – and fix – the mistakes that are holding them back.
If you’re in your twenties, you might not feel ready to manage your money yet, but there’s no better time to get started than now. Many twenty-somethings make mistakes like the two outlined below, complicating their financial futures through poor money management. Instead of becoming a statistic, make sure that you’re not…
Living Beyond Your Means
Whatever you think you need or deserve does not matter as much as what you can afford. If you spend more than you make each month, you are living outside of your means. “It’s very important as a family, or as an individual, that you look back on your previous year, certainly your previous three months, and have a systemized budget,” says Ariah Rastegar. Your income after taxes is the maximum amount that you can afford to spend each year, and you shouldn’t even be spending all of it. It’s simple math, and it cannot be circumvented.
Believing in Fixed Expenses
One reason that many twenty-somethings live beyond their means is because they believe in fixed expenses. There is almost always a way to lower your “fixed” expenses, however. You can renegotiate your phone and insurance bills, sell your car and opt to use public transport, cancel your television service and more.
It’s never too early to schedule an appointment with a financial advisor for guidance on your personal situation. In fact, successful professionals like Ariah Rastegar often recommend it as the first step to achieving financial security.
Ariah Rastegar is the founder of Rastegar Equity Partners he holds both a professional and personal interest in investing. Experienced investors like Ariah Rastegar understand the business and, though they highly recommend that individuals who would like to build wealth begin investing, they also know that it requires careful consideration beforehand.
If you’re considering investing, ask yourself questions like those below before you get started. Such questions can help you decide if investing is the best step for you to begin increasing your monetary standing.
Are You in Debt? All of your debts should be paid off before you invest, as the interest on outstanding balances will likely overshadow investment returns.
Are You Protected? Insurance to be sure that you are protected should disaster strike will ensure that you are ready to invest your extra wealth without compromising your personal security.
Are You Saving for Retirement? Your retirement fund is the first place that your extra cash should go. If your retirement fund is lacking, you will only hurt yourself by investing your money in riskier markets.
Do You Have Savings? Having spare cash to fall back on is important. In the words of Mr. Rastegar, “If you have a question that you might not have enough money, you should speak to a professional. If it’s anything under, say, ten thousand dollars [or] fifteen thousand dollars, you should still be saving.”
Even if you’ve asked yourself these questions, the most reliable way to know if you’re ready to invest is to speak with a qualified financial advisor. Seasoned investors like Ariah Rastegar continue to respect professional advice, and it is wise for newcomers to do the same.