Wednesday, March 10, 2021

Andy Johnson - Your Money Coach

Veit (Andy) Johnson
Your Money Coach

Over the years we made many financial mistakes. It is our goal to help you to avoid the mistakes we made and help you to gain financial peace and be able to do all the things you dream of doing in the future.
Our Mission: We have a plan to help people get out of debt quickly and build wealth for early retirement. It is never too late to start!

Click Here to read My Story

I read and respond to all replies to my emails. !Yes, it really is me!

So please introduce yourself, I'd love to learn more about you!

Please click "reply" and briefly tell me more about you, where you live, where you're at with your managing your debt, your money and where you want to be.

Looking forward to your reply,
Veit !Andy! Johnson

VIDEO - Four Walls HOGAN from NAD Stewardship on Vimeo.

We are not affiliated with Ramsey Solutions or with Chris Hogan.
For many answers regarding money you may visit 
Dave Ramsey at Ramsey Solutions. Click Here
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"As you begin changing your thinking, start immediately to change your behavior. Begin to act the part of the person you would like to become. Take action on your behavior. Too many people want to feel, then take action. This never works." -John C. Maxwell

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Stop retirement contributions

Stop retirement contributions (until debt is gone). One thing you’ll start to see as you start eliminating your debt is that it’s SUPER easy to take “one step forward, two steps back”. I ALWAYS recommend that one who has debt stop contributing to retirement while they’re getting out of debt. This is only temporary. (1-2 years) Why? Because it’s inefficient. You can’t do two things at once here. You must do an analysis of what your debt is costing you verses what your investments are earning you. Odds are the gains are either cancelled out OR worse yet, you’re losing ground even faster than you thought. The bigger point here is that, if you want to start to win with money, you have to be willing to question and then skewer your current thought patterns and habits around money. Would you agree with that? Is what you’re doing now really working? I know this is a little challenging and it may feel like I’m poking you in the eye a little bit, but I can promise you this is a super important point. In this process, you’ll only get momentum if you can focus intently on each of these micro steps as you go through them.

Wednesday, February 24, 2021

Preparing or Reparing

 I often tell people every day you're either preparing or repairing. Hi, John Maxwell here. Welcome to Minute with Maxwell. That’s your statement of strength today.

Today, right now in your life, my life, we are either preparing or we are repairing. One [person] sets up tomorrow for success. The other [person] sets up today for failure. If we are repairing, we can't even get into tomorrow. At best, what we're doing is trying to fix today because of something we allowed yesterday. But if we're preparing, it means that we're making the best of today so that we can guarantee that tomorrow is going to be a success. I think that's essential during a crisis, because a crisis has a tendency to come in like a tornado, a hurricane, and just scatter and mess stuff up and wreck lives. And I just want you to know, don't let it happen. Take each day at a time.

Today matters. Make today count. I wrote a book on that. Don't try to take care of the next week in the crisis. It will overwhelm you. Just take care today and prepare well. Tomorrow will come. It'll get a little better.

Thanks for being with me today on Minute with Maxwell.

Never Give Up


Never give up on becoming a master of your money.

Saturday, February 20, 2021

What is Debtg Consolidation?


Kiersten Essenpreis for Money

Debt consolidation gathers debt from multiple sources and puts it in one place, which simplifies paying off what you owe. Consolidation can also allow you to reduce the interest rate or total amount of your debt.

Most of us manage many forms of debt simultaneously, keeping track of due dates and balancing interest rates to avoid late fees or a bruised credit score. But one lump sum means one lender, one due date, one interest rate, and one set of login credentials. It can be a strategic personal finance move in the long run — as long as it’s done right.

Before consolidating your debts talk to us. Debt consolidation is usually not a good idea and creates more problems in the long run.

Schedule a free consultation appointment today. Our goal is for you to learn to master your money! 

Click Here To schedule a free online appointment.

Benefits of Budgeting

According to Spendmenot statistics, only 32% of US families maintain a household budget. So why should you join this number? A budget is a financial plan that helps you allocate funds to different categories of your life. You get to decide how much you spend, save or invest based on your take-home income. Your take-home income is the amount left after the payment of taxes and medical insurance.

Budgeting allows you to:

  • Highlight horrible spending habits.

  • Prepare for emergencies.

  • Spend what you can afford.

  • Stay focused on your personal finance goals.

Earn extra money for your budget:

Tuesday, February 16, 2021

Financial Tip


Did you know that the majority of the population would be able to save much more money every month than they think? When you think about all the non-essential things you buy, it’s pretty easy to believe! According to the long-proven 50/30/20 rule, you should set aside:

  • 50% of your budget for essential expenses such as housing and food;
  • 30%—maximum!—for non-essential spending;
  • At least 20% of your income should be put into savings.

When you think about it, it’s a pretty logical way to manage your finances. Unfortunately, too few people take the time to make a detailed budget and think about it.

Here are some facts from 2018 about how Americans’ money relates to the LivingFacts website:

  • 12% of Americans said they could not cover a potential $400 expense. 61% said they could afford the $400 in cash or equivalent, while 27% of Americans said they would have to borrow the $400, or sell assets, if the opportunity arose;
  • 36% of Americans say their retirement savings are on track. 44% say they are having problems, and the remaining 20% are unsure about the state of their savings;
  • 64% of Americans owned a home, while 27% rented one, and 9% had other arrangements;
  • The average annual salary of an American can be divided into three different types of expenses: 33% for housing, 16% for transportation, and 13% for food;
  • Only 47% of Americans with a credit card say they have been able to pay their bill in full every month for the past year. 26% say they have had a balance on their card a few times, while 27% have a balance most of the time;
  • 82% of married people say they are doing well financially, compared to 66% of single people. 78% of married people with children under 18 are doing well, compared with 52% of single people with children.

Business Insider even goes so far as to say that many Americans plan to work until they die and not retire because their finances are so precarious. More precisely, 37% of Americans think they will have to work until they die, while 34% of them plan to be able to retire around the age of 80.

It is therefore quite clear that the financial health of American society in general is more precarious than one might think, especially considering that even people who manage to save do not in fact save enough.

With our best saving tips article, though, you will be able to get to your goal quickly and, who knows, maybe you’ll have a little more leeway for your non-essential spending in addition to planning your retirement properly!

Sunday, January 31, 2021

Good Value or Poor Value

 My family often goes shopping for different products including clothing, food and small appliances.

When is something a good value and when is it a poor value. My wife often likes to purchase things she thinks she will need in the future. Many times we use the item but as time goes on some of the things that are purchased are never used. End result, the items she has purchased that are never used are a poor value. Just because something is on sale it is not a bargain if you do not use it. It becomes a waste of hard earned money. Before you purchase something that is on sale be sure that you really need it. I can look in my garage and a spare room that we have in our home. There are many things that we have collected over the years that we do not need and the items were used very few times. My suggestion is when you are thinking about purchasing something make a list of the reasons why you need the item. Then make a list of reasons not to purchase the item. The reasons you put on either list is anything that comes to mind. Go hog wild with your reasons. When you get done count the number of reasons on each list. I give everything on the list to purchase 1 point. Every reason on the list to not purchase an item gets 2 points. If the list not to purchase has more points then we do not purchase the item. Another method is to wait for a day and see if you still need the item. If you still think you need the item, wait 2 more days. On the 3rd day if you still need the item the wait 3 more days. If you can say you still need the item then go ahead and purchase it. One caveat, be sure that you do not use credit to purchase the item. Only use cash. This way you do not incur debt. Our plan to control our money is to avoid debt

Tuesday, January 26, 2021

My Story

I'm Veit Johnson
My friends call me Andy

Our Family Motto
Life is Fun
Life is Exciting
Life is an Adventure
Schedule a Free Consultation Appointment
We will discuss your finances and how to manage them.

I started life out 74 years ago in 1946 and I was debt free. As a child my Dad and Mom taught me different things that I would need in life regarding how to take care of my self and face the world in the future.
As a youth I learned a lot of things about money. I learned that I could spend it, save it and give it to others. I have not been able to figure out what else I can do with it. During my teen years I learned to work for money and I did not get all that much per hour since the minimum wage in the 1960's was just $1.00 per hour. I worked at mowing lawns, milking and feeding goats, and delivering newspapers. I was able to save enough money and purchase my own car when I was 16. It was a great car, a 1955 Oldsmobile Hardtop with a Rocket 88 engine. Wow! Had great fun with it. I even had a Chevron Oil credit card for gas. I worked most weekends to earn money to pay for gas and repairs. Did not really understand the implication of having a credit card. Since I was earning money during high school my Dad introduced me to the stock market. He taught me how to invest in stocks.
At the age of 17 I was unable to find jobs out in the world since most places wanted someone who was 18. As a result I join the U.S. Navy and became a corpsman. I spent a short time being stationed in San Diego and at Lemoore Naval Air Station before proceeding to San Francisco to be on a Hospital Ship bound for South Viet Nam. From their I was on troop carriers ferrying troops from the U.S. and South Korea to South Viet Nam.
During my time in the navy I found I was not in the need of much money. As a result I put most of it in a mutual fund that grew nicely for my 3 years, 2 months and 23 days of active duty.
Upon getting out of the Navy I started working for Pacific Telephone and Telegraph, first in a central office and then as a telephone installer/repairman. During that time I was able to share an apartment with two friends where we split the rent and food three ways. I needed transportation other than the bus so I was able to purchase a motor scooter for cash with my savings from the money I saved while I was in the navy. Later I moved in with two other friends renting a three bedroom home. Also during this time I was able to get a credit card with a local clothing store and started wearing a lot of spiffy clothes. Now I had to pay on a credit card each month and because I did not pay it off I had to pay interest on the outstanding balance. I was giving away money because of interest. I was also eating out a lot so there was little to no money left from my paycheck each week. I was living paycheck to paycheck. 
After a period of about 5 years it was now 1972 and I had a few small pay raises and since my room mates had married I was now on my own renting different apartments. Room mates were no longer working out and I was still eating out much of the time. Now I was paying full rent, and also now had a car payment along with the payments for my gas and clothing which was getting larger each month. I had no money left over. Since I was single I was also trying to support dating which was usually centered around church activities, concerts and plays along with a few movies here and there. 
About 1967 or so I was talked into purchasing a home. I bought a 3 bedroom home in Fremont, California where I was paying $333 a month for house payments on a home that I purchased using a VA loan with nothing down. This was about 30% of my income. I had stared saving about $100 a month in a 401k. Since I was still spending money on the high life with a new car (cost $3001) in 1971I was making a car payment of $83 a month. My life from about 1970 until 2005 was spent every month making car payments. I hate to think of how much I spend on interest. During that time I purchased 4 used cars and 4 new cars. I was still living paycheck to paycheck and often I was borrowing money from different companies at high interest. I even took money out of my 401k to make ends meet.
In 1993 I met my wife and we got married. By selling my home and her condo we had a lavish wedding and put a nice amount of money down on a new home for about $250.000. We were still living paycheck to paycheck and the only item being saved was my 401k. My wife was a spender and I was still one too. We were taking great vacations to local areas in California, Oregon, Washington, Idaho, Nevada, Hawaii, Utah, Missouri, England, Scotland, Switzerland, Spain and Wales all with the help of credit cards and more credit cards. During this time we upgraded to a nicer home for about $500,000. With the sale of our first home in 1997 we were about to put down 20%. We were also able to pay off all of our debts with nothing left over. About 2 years after upgrading to a nicer home that was about 50% Our income we both lost our good paying jobs. Now we were depending on the money in our 401k's. We were able to find some temporary jobs here and there which allowed us to maintain a lavish lifestyle. We were slowly accumulating more and more debt. (This met we were giving away a lot of our money to interest. Interest is money that we would never be able to spend on the things we needed or wanted.) Our payments were about $1500 a month.

September 11, 2001 happened and our investments that were paying our house payment and paying for part of our lifestyle suddenly disappeared. We were drawing from our nest egg now faster than it was growing and it was quickly dwindling to nothing. We had to do something quickly. In 2003 we sold our very nice 4 bedroom home with spacious closets and 3 car garage and moved into another not so nice new home in Tracy, Ca. We were able to put down 20% and pay off our debt. We were debt free except for the monthly payment on the mortgage. 

Did we learn our lesson? No!!! We were still using the credit cards and financing vacations. Suddenly we found that we were $60,000 in debt. What do we do? We trotted down to the local bank and signed up for a variable interest loan to pay off our debt. Again we were debt free. Guess what? We still were using the credit cards and went into debt again of about $60,000. We could not see the surface. We filed bankruptcy. We stopped using credit cards since all of our accounts were closed by the bankruptcy court. We were now operating on a cash basis. We were managing but just barely.

In 2010 I had a stroke. I recovered quickly and was cleared to work by my doctor and a Neurologist. Problem was since I was working as a truck driver the Department of Transportation said I could not work for a year as a driver. I was not successful in finding other work and we had no money to live on and no income. I was able to start drawing social security of about $3200 a month since I had a dependent child and my wife declared she was a stay at home Mom. Since our income was not enough my wife during this time took out student loans for us to live on to the tune of $60,000. In addition I was able to find a temporary job a year later as a truck driver that brought in about $15,000 a year. During the last year my son turned 18 (no more ssi). My wife applied for SSI and is getting about $2,400 a month along with my 2,000 a month. In addition I work as a truck driver earning $5,000 a month or a bit more. For the last 2 years we have been at $100,000 a year. Our debt at this time is $60,000 in student loans, $60,000 second mortgage, $40,000 interest free car loan and an $8,000 lien on our home from a lawsuit that we had to try and recover our retirement investments because of poor management on the part of our investment advisor who provided us with investments that did not meet our needs.

In September of 2019 I discovered Dave Ramsey and his plan to get out of debt and become wealthy. My wife has not been willing to get on board. As a result we are not following the plan laid out by Dave Ramsey.  Instead because of my age and the need to build a nest egg we are investing in a ROTH and building a emergency fund. (I do not recommend this to my clients). This makes the road to being debt free very much longer. I decided that I wanted to help others to avoid my financial mistakes and decided to become a financial coach. My wife and I now have a spending plan and discuss all of our spending. Although I have tried to get her to follow a spending plan I have been unsuccessful. I have started writing down everything we spend and show it to her so we can develop a full budget. I can say this, no one is ever too old to start. One never knows how long they will live. In my family many folks live into their 90's. At 74 I could still live another 20+ years.


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Monday, January 25, 2021

Roth IRA

Roths differ from traditional retirement accounts in how they’re taxed. A traditional 401(k) or IRA allows investors to make tax-free contributions, deferring the taxes until the money is withdrawn. Roth IRAs are the opposite in that investors pay income taxes on the money as it goes in, not when it comes out. The benefits of Roth IRAs include that you can make early withdrawals from contributions without a penalty.