John Schlott

John Schlott

Dad | Husband | Webmaster | SEO | Personal Finance buff | Outdoors addict.
John Schlott

Latest posts by John Schlott (see all)

The Secret Message Your Checks Are Telling You

I recently read a story about a husband and wife that were going through some hard times and decided to end their marriage. While in anticipation for the divorce, the husband thought it wise to go through his finances to make sure things were taken care of. In the midst of filing old receipts he found an old check that had been written out to the hotel were he and his wife had their honeymoon. As he continued going through his desk he found another old check for the down payment on their first home, then a car payment appeared and finally a check he’d made out to the hospital; the day his daughter was born.

After an emotional moment he’d realized the investment he and his wife had made on their marriage. The checks he wrote were symbols of their story – a list of priorities he and his wife held while married. He picked himself up off the floor and ran to the phone to call his wife. After some awkward explanations of why he was calling he told her what he’d found. Would she find the checks as valuable as he did? Would she work with him to rebuild their marriage?

While some of us may not understand this crisis, the checks or the story of the checks is a common one. What we spend our money on means something; it tells us what we value, how we save and to whom we give. In fact if you want to know someone’s heart, look at their finances. The checks will reveal the truth of what we value. This is why the wife and I have personal  conversations about what we want in life. My wife has always asked me what the plan is. I didn’t understand it for a long time, because to me it was simple. The money came in, we paid the bills we could and the rest we spent.

I didn’t realize what she was really asking. Many times as a family we get “caught in the weeds”, we wake up, rush the kids off to school, run to work, Netflix & Chill- then repeat. Budgets get a bad rap because they often tell us what we can’t or shouldn’t do, so naturally most people hate them.

But if we change that thought from what we can’t do to what we will invest in, we can have a bank account that reflects the real us and not just the life happening around us.

1. Create a life plan, OR a family plan.

It’s not that complicated really. Sit down with your spouse and start asking the hard questions. I usually start with something like this. “babe, if you didn’t have a job, and all the money in the world, what would you want to do?” Sounds a little day dreamy but it works. It gets your brain to start thinking of things a little differently. I love this question because it changes from decade to decade.

The hopes and dreams you once had as a child shouldn’t have changed. The day dreams of you being a fire fighter/superhero or a graphic designer/soccer hero should be the dreams that keep you afloat. The only differences I feel should change is the HOW. The how of what you want should change but never the what! [enter] “budget talk” – This is what budgets represent to me, a means to allow me to plan out how super hero fits into my current situation and how much it’ll take to get me there.

2. Get excited about dreaming again.

This year my daughter made the summer national team in soccer. Her mother and I were shocked, in a good way but shocked. She’s only been playing soccer for about a year and a half now and she  already wants to play on the women’s Olympic team. I love it, she’s got her head in the clouds and her heart in a soccer ball; I’m super jealous. We talk a-lot about what it’s going to take to get her ready for her first game on the women’s US team. Her eyes light up, her ears hone in aaand then daddy says “so we have to budget your time” …what???

I’m always telling her that her road the women’s US team is going to rely on how she choices to spend her time (time is money). Are we going to spend all day gabbing about what, “what’s her face” said at school or get our home work & chores done so we can get to soccer practice on time. I think she gets it.

3. Start today, right now.

There’s no motion like forward motion to get things going. I know it sounds cliché, in fact I’m cringing as I write this but there’s really no other way to say it. I realize that number 1 & 2 are the easy parts but this last one here is where the gold medals lie. We can plan and budget to the stars but if we don’t jump, nothing will ever happen.

The man in this story was a great example of these three points if you think about it. He found his dream, the family plan was right there in front of him in the checks he’d written. He’d lost sight of it but found hope in the memories. I can only imagine the excitement he felt remembering the first time he held his daughter in the hospital, the check was just a reminder. Who knows what happened after he spoke to his wife but I’d like to think they talked and found a new excitement about a dream they once had.

Budgets are budgets they can be as complicated as you make them. The key to wielding their magic lies in creating them from a dream.

Sarah Schlott

Mom | Wife | FP&A Senior Executive | PE Growth | SaaS | FINTech | Supporter of Women’s equality | #Coffee addict.

Confused by Trump and the Stock Market? Combat Risks with Self Education

I sat with co-workers as recent trips to Europe became the topic of conversation. I remember the feeling of somehow not yet feeling that I had arrived, because I hadn’t yet made that trip. Yearning the financial freedom that trips to Europe seem to offer, I could only gaze past the cityscape. I could not join in the discussion. After all, I had kids and a mortgage in Johns Creek. A trip like this was not in my immediate future.

Later that same week, water cooler talks about stocks, and family discussions about trust funds turned my mind into mush. I was embarrassed, as I think many of us are, to admit that I was lost amid stock market conversations. I’d stay away from commentary because being in finance, it’s assumed that stocks and anything related to money would not only come natural to me, but I’d have mastered them by now.  Instead of lean in, I’d back away. Until I didn’t.

Average interest in the Stock Market has increased

Truth is, with the advancement of technology in trading, the market has been more open to “normal” individuals than ever before. And post election, stock market headlines jump out of market and financial specific publications into mainstream media. Once a game for the rich, the average person’s interest in the stock market has exploded.

This interest married with technology makes it possible for nearly anybody to own stock. It’s because of this, the perfect time to boost your interest and education has approached us.

The stock market is making no sense to investors

If you are still sitting on the fence because you are confused by Trump and the stock market, you are not alone. Non investors  and investors alike are spinning their wheels. Confidence levels swayed by headlines and talk of big risks to come. Delays in financial promises amoung the rumors.

In fact, Google Trump (especially after hitting the 100 days in office the week of April 28th), and you will find numerous articles both in support of and in contrast to a positive Trump effect on the stock market. In fact, I know many voters who voted solely with their portfolios and the Trump effect in mind. With stating that Trump’s 100 day report card is “among the best for Republican presidents in the post-WWII era,” and explaining that the “Trump Bump” has less to do with Trump than it may seem –  attributing gains to a pre-election strong market, solid global growth, solid wage growth and inflation pick up – it can become a stinky onion to unravel.

Education is key

Unfortunately, for even those that want to invest in stocks, the stock market is not the most easily understood of systems. And as such, we either make poor decisions or shy away from the very vehicle that can help us find that financial freedom.  Therefore, education is key.

It’s important in life and in the stock market to not act too quickly on our emotions. Still some of our most trusted advisors and analyst, do just that. But life and stocks; both are long term games that ignore. the sweeping day to day emotions. In order to think this way,  we have to be educated. We have to know what we are looking at and how we will play the game. Whether you begin your stock market journey with the traditional brokers, or through online robo advisors like Betterment, again, we have to be educated. But where does one start?

 The Intelligent Investor

After searching through several reviews from top financial publications, The Intelligent Investor by Benjamin Graham continued to top the charts.

 The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham’s philosophy of “value investing” — which shields investors from substantial error and teaches them to develop long-term strategies — has made The Intelligent Investor the stock market bible ever since its original publication in 1949.

Over the years, market developments have proven the wisdom of Graham’s strategies. While preserving the integrity of Graham’s original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today’s market, draws parallels between Graham’s examples and today’s financial headlines, and gives readers a more thorough understanding of how to apply Graham’s principles.

Vital and indispensable, this Harper Business Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals.

I’ll be going through this book online, if you’d like to join me, please pick up a copy here and I look forward to discussing the book with you in the coming weeks.