Family and friends

Fortunately, there are still many other classic funding alternatives, as we’ll discover, and a few fewer modern possibilities. Choosing the best is all about knowing your loan, how often you need it, what you’re ready to give up, and to who you’re willing to owe money to.

No business will use only one of these alternatives. As your company expands, you will require additional cash, explore new methods to form partnerships, and become dissatisfied with your current funding choices. I’ve arranged them in general chronological order depending on when a typical firm could consider a particular option.

Who is this for? People who have an extensive network of loved ones willing to provide a helping hand. Individuals in need of financing for minor ventures. People who purchase salable assets do not face the same risks as those who hire employees. Nobody likes to waste their friends’ money.

Who should avoid going? People who require a large sum of money – I believe it is dependent on your family members and friends. People who don’t want the inconvenience of a bank should be treated as if they were bank loans—people who no longer look forward to Thanksgiving at Aunt Debbie’s.

Small Business Loans

You prepare a business case, bring your financial papers, meet with the banker, and they “tally the numbers” to determine whether you qualify.

Lending from a bank has several intriguing drawbacks. On the one hand, you are working with a corporation that may benefit you as your company expands. Opening lines of credit or obtaining short-term borrowing from your bank can help you get through difficult times and continue to thrive.

Banks, on the other hand, are rigid. There isn’t a drop. Nobody cares if things were difficult this quarter, your CFO abruptly quit, or they propped up the parts you want at customs. Banking connections are difficult to love because of the imbalance of power. You prepare a business case, bring your financial papers, meet with the banker, and they “tally the numbers” to determine whether you qualify. A traditional loan for a small company.

Who is this for? Individuals have an excellent reputation. Individuals who have previously operated successful enterprises. People who do not want to cede authority to someone else. People who value consistency.

Who should avoid going? People who run hazardous ventures or use unproven business strategies. People who require flexible repayment terms. People who despise banks.

Crowdfunding

Kickstarter was the first significant crowdsourcing platform, but the system has evolved since its beginnings. You may now raise revenue by offering promos or trinkets through shops. You may give away a portion of your company, pay loan interest, or grant access to new features and goods.

The Jobs Act increased crowdfunding by allowing firms to exchange shares for cash. There are tight restrictions to follow if you are issuing shares, but there are other more traditional crowdfunding methods.

GoFundMe is still a terrific place to start if you create a product. Pebble has raised over $20 million for its smartwatches, and webcomic author The Oatmeal’s card game Exploding Kittens has grown above $8 million.

Who is this for? People who have extensive social networks online. People who accomplish anything the Web will like – no, blindfolded socks do not qualify. People are at ease with many sponsors, patrons, and proprietors.

Who should avoid going? People who do not have acceptance of the internet. Individuals who require constancy and predictability. People who do want their investors to provide them with guidance and instruction.

Credit cards

Debit cards are still a popular way to fund enterprises, particularly in their early phases. Platforms, for example, were developed with our founder’s credit cards. By the way, this necessitates a reasonably strong credit score and a supportive spouse. The brilliance of credit cards is their widespread availability, simplicity of obtaining them, and the low danger of failure – it’s no risk, but you can keep your home. The obvious drawback is the high cost of capital. The yearly interest rate on credit cards is still over 15%, while business loans are available at roughly 7%. Who is this for? People who have excellent credit. Individuals who do not need to shop cannot use credit cards- good luck using a Visa credit card to pay 50 employees. People who require a temporary boost or have access to seasonal credit.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Triffin recommends replacing the Central Bank’s Organic Law with the Global Exchange Law (1947) and the Monetary Regime Law (1948). The Monetary Regime Law of 1948 assigned the BCE the role of fluidity supervisor to finance the country’s development, allowing the organization to pay to the alliance of the national economy during the Thirty Glorious 6, the period with the most remarkable macroeconomic stability in Ecuador’s economics. Furthermore, the Monetary Regime Law of entrenched new ideas: a Board of Directors of the BCE on which the Government sits; the ability to devalue the dollar for economic causes and implement contractionary policies; and the capacity to implement contractionary policies. The authority to provide loans to the Government and the producing sector; lastly, a secretarial system permits it to take on additional responsibilities. For more than three decades, this monetary regime effectively dealt with a succession of economic disruptions.

The foreign debt problem began in the 1980s and was precipitated by a spike in global interest rates in 1979. In addition to the economy’s imbalances, fiscal deficits, monetary devaluation, and high inflation, internal pressures from the private sector have been added to ensure that the state fixes its current debt difficulties. Furthermore, with the backing of the International Monetary Fund Bank, they implemented a new reform to rearrange the business as a whole and attempt to return to a growth trajectory. With this goal in mind, and within a new economic paradigm, 8 The Economic Regime and State Bank Law was passed in May 1992. The last one sought to give the BCE “autonomy” by separating it from consultations and political choices in the case of government-appointed authorities. Restricting the use of primary inputs and emphasizing indirect instruments to guide the exchange rate bond yields, and thus manage stable levels of inflation, and prohibiting the ECB from extending loans to the treasury. Underneath this legal regime, the nation entered a system of regulated fluctuating of the exchange rate. The ECB’s duty was primarily to intervene in the banking markets through cash tables, forex tables, and auctions of stability bonds (BEMs). Moreover, 

The damages to private banks were publicized when the Government acquired the latter’s responsibilities. As lender of last resort, the BCE inorganically created support liquidity credits so that the Deposit Guarantee Agency -AGD- could reimburse impacted depositors in cash 9. The country’s currency eventually lost trust, prompting the Executive to announce a bank holiday on March 8, 1999, freezing most citizens’ accounts. On January 9, 2000, the Executive declared the dollarization of the Ecuadorian economy to alleviate mounting civil discontent. In its present currency attributions, the US dollar supplanted the Ecuadorian Sucre, a legal entity that serves as a reserve of worth, a fiat currency, and an income method. The BCE could not create anything other than fractional currency and was required at a predetermined exchange rate.

Already budgeted for 2019, the financial system gradually returned to normalcy, although it took until 2004 for savings and sales to return to pre-financial crisis levels.

The Central Bank and its autonomy

Also, with the constitution, the BCE lost its “autonomy” and became a legal entity under public law responsible for implementing Executive Function 10’s monetary, credit, exchange, and financial policies. The 2008 Constitution also mandated a fundamental reorganization of current monetary and financial rules and the organizations in charge of developing and implementing economic policy. In terms, the ECB embarked on a new structural reform to modernize its function and meet the problems that have been thrown at it.

The Natural Law Reform of the Natural Financial and Monetary Code was authorized in May 2021 to defend currency devaluation, defining the Central Bank of Ecuador as a Legal Organization of Public Law, part of the Executive Function, and organizational, administrative, budgetary, and technological autonomy. It specifies the entity’s tasks as follows: ensuring that money flows in the country, monitoring the functioning and health of the economy, preserving and managing the global reserve, and managing the Liquidity Fund Trusts of the Commercial, Popular, and Unity Financial Sectors 11.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Success, productivity, contentment, and well-being depend on how well you manage your time. In truth, time management is like life management.

It is a critical talent to develop in our professional and personal lives. It’s not about working longer hours; it’s about being more productive, focused on results, and content with your work.

1. Time is the essence of life

It would be best if you always kept this in mind: how we spend our time reflects how we live.

Time has become an essential commodity we own. People who say they don’t have money moan more than those who don’t have time.

The amount of time we spend doing things influences the quality of our work, relationships, and overall well-being.

2. A significant source of stress is terrible time management

Lack of time has become a significant source of stress and much illness and suffering in our time. The wicked triangle of three poles—goals, quality, and timing—binds us to inexorable limits: if we want to enhance quality, we need more time; if we’re going to minimize the number of objectives, we need to reduce the number of goals. If we try to do more things, the quality may suffer, or we may run out of time. Our items’ number and quality may be affected if our time is shortened.

Despite these evident and pervasive restrictions, today’s work requires us always to accomplish more, better, faster, and for less money. The focus is invariably on outcomes.

3. Recognize the difference between importance and urgency

We know from experience and research that when it comes to task selection, urgency always takes precedence over importance. We will always deal with the urgent over the important if we do not continue to focus on our priorities, compromising the importance of the results.

Successful people set explicit daily goals and comprehend the accompanying priorities. In contrast to what is important to us, others frequently decide urgency, requiring us to take on duties that we may not deem necessary. To correctly manage our time, our goals must be created utilizing the 5 SMART qualities: specific, measurable, ambitious, realistic, and time-bound.

4. Save time and waste time

Recognizing when time is gained or lost might help us be more productive and fulfilled at work.

Here are some instances of how you can save time:

• A calm office encourages productivity. Open-plan offices, according to research, tend to create distractions that disrupt and slow down productivity.
• To-do lists on a monthly and daily basis help us stay focused on our priorities and remind us of deadlines. “The ideal method for coping with procrastination is to tackle difficult and important things first when we are most productive (for example, early in the morning)” (Tracy, 2013).
• Complete a job only once: Do it only once when you have enough time to thoroughly resolve it, whether it’s an email, letter, document, or voicemail.
• Collaboration and teamwork: if you require assistance, ask for it ahead of time. Don’t be misled by pride; allow others to assist you.
• Delegation: Leaders are often hesitant to delegate (“I’m the only one who can perform this job successfully,” “Doing it I take less time than explaining it to others”). Furthermore, delegating work allows employees to develop new abilities while alleviating their busy schedules.
• Learn to state “not important” when you’re requested to do a vital job: stand up for yourself and don’t be aggressive or disrespectful to others when you’re asked to do meaningful work.
• Make time for yourself daily to think strategically, take breaks, and cope with unforeseen occurrences.

5. Work-life balance

It might be challenging to balance job and personal life (5). Some have even abandoned all efforts in this direction, claiming that the concept is unreal. Only here must you modify your rhythm to stay healthy and productive, balancing work, rest, exercise, family, friends, and sleep. Aside from working long hours, it’s also crucial to remember the rule of diminishing returns: the more we work, the less productive we are! Long durations of time without rest are the same. However, the 24/7 connection to our cellphones, tablets, and laptops is by far the greatest threat to this balance.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Companies with effective HR policies are more likely to retain existing employees, attract new staff, and accelerate sales development, according to a BDC poll of 1,208 entrepreneurs conducted in 2018. The findings suggest that businesses with good HR strategies are 66 percent more likely to expand their sales by more than 10% per year. 1 In addition to hiring issues caused by a labor shortage in Canada, which experts predict will last for a decade, a striking statistic will speak to many business executives at these special times.

Construct valuable assets Attract top talent to your organization

Is there a value proposition for your company? Is it true that the latter genuinely communicates with your employees? Discover why your loyal employees appreciate working for your firm to create a powerful value proposition. Make a precise definition of your value offer based on what you’ve learned from your conversations with them. It will increase internal involvement and mobilization, making your organization more attractive to future applicants because it was developed with the cooperation of your staff.

Spread the word about your company’s culture everywhere

Employees today are eager to work for a firm that has a genuine culture and values that they will uphold. On the other hand, corporate culture develops through time and is present in all employees daily, regardless of their position in the firm or the department to which they report. Culture is more than a set of values established by top management and expressed in part on paper. A web page should first emanate from within the company’s walls. As a result, all your efforts in social media, job postings, and personnel policy will be more genuine and have a higher impact.

Provide valuable benefits to employees

Gone are when corporations could hire staff only based on attractive salaries and group insurance plans. What strengths can you highlight in a job posting to entice potential candidates? Ask employees how the organization can assist them in enhancing their satisfaction levels at work to find out what truly inspires them.

Create a scheme for hiring personnel based on internal referrals

According to numerous data, the efficiency of simple online recruiting is decreasing year after year. Few candidates are actively looking for work due to low unemployment. As a result, it’s a good idea to reach out to passive prospects who aren’t actively hunting for work. There are indeed those looking for job possibilities among the greatest among them.

Collaborate extensively with outside recruiters

Selecting the appropriate partner is essential. Think that way, would you instead hire a bounty hunter or a significant firm that specializes in talent acquisition? It would help if you guided your decision by examining your needs and the industry you operate. Whether you’re seeking an experienced executive or work in a specialized industry like forestry, headhunting can help you find the right person for the job. If you need a huge number of movers, however, the assistance of a company that has many candidates will surely be more beneficial.

Make your screening interview a pleasurable one

Communication with candidates is critical at all phases, but notably during selection interviews. Whether the candidate being interviewed gets hired for the position, they must enjoy their time in your office. You go to great lengths to promote the company culture and ensure that the applicants you meet produce a positive impression. Please keep track of unsuccessful prospects and communicate with them. If the chosen candidates drop out, the importance of their candidacy may rise. They can also serve as good ambassadors for the benefits of working for your organization.

Create a marketing plan that is appropriate for your recruiting

Your business culture is mature, and your value offer is robust. We encourage you to do everything you can to highlight these items. Increase finances to express your positive ideas and spread the good news to attract the best prospects. Who do you think may be a good fit for the job? Is it even true that they are millennials? Find out what motivates them to stay loyal to their jobs. Then, to communicate with them, find a route of communication.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Debt avalanche

The debt avalanche approach makes minimum payments on all your outstanding bills and then applies any remaining funds intended for debt repayment to the account with the highest interest rate. You will save money on interest payments using the debt avalanche strategy.

An example of a debt avalanche

The debt avalanche strategy, for example, will get your money to go the furthest if you have an extra $3,000 to pay off your debt each month. Assume you owe the following amounts:

• A $10,000 credit card debt with an annual interest rate of 18.99% (APR)
• A $9,000 auto loan at a rate of 3.00% per year.
• A $15,000 student loan with a 4.50% annual interest rate

The avalanche technique requires that you pay off your credit card debt first, then pay off the remaining amount in 11 months, paying $1,011.60 in interest. The snowball strategy requires you first to take out a car loan, paying $1,514.97 in interest and being debt-free after 11 months.

You can save hundreds of dollars in interest by just rearranging your debts. The avalanche strategy can also cut the time it takes to pay off the debt by several months for people who have a lot of it.

Advantages & Disadvantages of the debt avalanche method

The debt avalanche method also presupposes that you have a set amount of discretionary income to pay down your debts. An increase in everyday living expenses or an emergency could throw the plan off.

Pros

• Decreases the amount of interest you need to pay
• Reduces the amount of time it takes to pay off deb

Cons

To cope, you’ll need discipline and determination.

It is necessary to have a consistent source of discretionary income.

Debt snowball

The debt snowball method is paying off the lowest bills first, then moving on to larger ones—a “do the easy work first” strategy. You list all your outstanding debts in ascending order of size. You get to select who plays first, and you can put as much money into each payment as you like. You only must pay the bare minimum for the remainder. Once the initial loan has been paid off, you go to the next most excellent debt to make extra payments.

An example of a debt snowball

Let’s use our prior debt scenario to demonstrate how the snowball effect works. As a reminder, you have an extra $3,000 per month to pay down your debt and the following options:

• A $10,000 credit card debt with an annual interest rate of 18.99%.
• A $9,000 auto loan at a rate of 3.00% per year.
• A $15,000 student loan with a 4.50% annual interest rate

Because you owe the least amount of money on the auto loan, the snowball method will push you to focus on it first. You’ll finish this in three months and then move on to the other two. You’ll be debt-free in roughly 11 months, like the debt avalanche approach. However, you’d have to pay $1,514.97 in interest, nearly $500 more in total.

45.4 percentage point

According to Value Penguin research, the percentage of American households with credit card debt.

Pros and Cons of the Debt Snowball Method

Pros

• Creates motivation by quickly paying off debts
•  Easy to implement

Cons

• Causes more interest – generally more expensive
• It may take longer to be entirely debt-free

Debt consolidation

Financial consolidation allows the borrower to modify the contract’s conditions and reduce their debt burden. You can use this service if unexpected expenses arise. In Western countries, it is popular. Consolidation is combining many credit accounts into one to pay off debt. A lower interest rate is applied to such obligations, reducing the borrower’s debt burden. A single account is also helpful for the following reasons:

1. It is easier to manage.
2. Depending on his financial situation, a debt repayment scheme is developed for a specific client.
3. You can attract co-borrowers, collateral, and transaction guarantors.
4. the credit rating rises as the number of regular payments decreases
5. The total amount of monthly payments are reduced.
6. Fewer funds are spent on commissions for servicing several bank account transactions.
7. Service in one financial institution.
8. Upon successful completion of the program, credit history improves.

In most cases, financial managers create a debt consolidation plan. They visit with the customer, discover the reason for the loan agreement’s non-performance, and determine how the client can return the debt.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Debunking Common Investing Myths for Smarter Decisions

Investing myths like “you need lots of money to start” or “the market is just gambling” prevent millions from building wealth through simple, proven strategies that work for anyone willing to learn. These misconceptions cost real money—the average equity fund investor underperformed the S&P 500 by 8.48 percentage points in 2024 alone, largely due to emotional decisions based on false beliefs about how investing works.

I’ve spent over 20 years as CEO of Complete Controller, working with businesses across every sector, watching smart entrepreneurs make terrible investment decisions based on myths they learned from well-meaning friends or sensational media stories. One client recently confessed she kept $250,000 in savings for seven years, losing approximately $175,000 in potential gains, simply because she believed investing required expertise she didn’t have. This article tears down the ten most damaging investment myths with hard data and real client stories, giving you the confidence to start building wealth today through diversification, consistent contributions, and time-tested strategies that actually work.

What are the most dangerous investing myths?

• The most dangerous investing myths are: “you need lots of money to invest,” “timing the market is crucial,” “investing equals gambling,” “diversification is only for the anxious,” and “you must be wealthy or old to participate.”
• “You need lots of money” myth stops people from starting early, costing them decades of compound growth
• “Market timing” obsession causes investors to buy high and sell low, destroying returns
• “Investing is gambling” belief ignores that markets deliver 10% average annual returns versus negative expected gambling outcomes
• “Only the rich invest” stereotype overlooks that 30% of Gen Z now starts investing in early adulthood with as little as $50 monthly

The Psychology Behind Investment Misconceptions

Investment misconceptions persist because our brains are wired to fear loss more than we desire gains—a phenomenon behavioral economists call loss aversion. Media amplifies these fears with dramatic headlines about market crashes while ignoring the steady, boring reality of long-term wealth accumulation.

Financial literacy gaps compound the problem. Most Americans receive zero formal education about investing, leaving them vulnerable to myths passed down through generations or spread through social media. My own clients often arrive with deeply ingrained beliefs learned from parents who lived through different economic realities.

The herd mentality drives otherwise rational people to make irrational choices. When everyone around you is selling in panic or buying in euphoria, resisting that pull requires both knowledge and discipline that myths actively undermine.

Breaking Down the 10 Most Costly Investment Myths

Myth 1: You need substantial money to start investing

Starting with just $500 monthly at age 25 grows to $1.7 million by age 65, assuming an 8% annual return. Wait until age 35 to begin, and that same $500 monthly contribution yields only $745,000—a million-dollar difference from just a ten-year delay.

Most investment platforms now offer zero minimums and fractional shares, making it possible to own portions of expensive stocks like Amazon or Google for as little as $1. The barrier isn’t money—it’s the decision to start.

Myth 2: Market timing determines success

Professional fund managers with teams of analysts fail to consistently time the market, yet individual investors convince themselves they can predict tops and bottoms. The data proves otherwise: investors who tried timing the market in 2024 underperformed buy-and-hold investors by 8.48 percentage points.

Missing just the 10 best trading days over 20 years cuts your returns by more than half. Since those best days often occur during volatile periods when fear runs highest, market timers frequently sell right before massive rallies.

Myth 3: Investing equals gambling

Gambling offers negative expected returns—the house always wins mathematically. Investing in diversified portfolios delivers positive returns approximately 80% of the time over any five-year period, with average annual gains of around 10% historically.

When you invest, you own actual assets: pieces of companies, real estate, or bonds backed by contractual obligations. When you gamble, you own nothing but hope. One builds wealth systematically; the other destroys it systematically.

Myth 4: Diversification is only for nervous investors

Cambridge Associates tracked diversified portfolios over 20 years and found they returned 8.6% annually versus 6.0% for globally indexed portfolios. A $100 million diversified portfolio grew to $187 million while the indexed approach reached only $115 million.

Diversification isn’t about fear—it’s about capturing returns from multiple sources while avoiding catastrophic losses from any single investment. Professional investors diversify aggressively because they understand probabilities, not because they lack confidence.

Myth 5: Only wealthy people can invest successfully

Thirty percent of Gen Z starts investing in early adulthood compared to just 6% of Baby Boomers at the same age. Technology democratized investing through apps offering fractional shares, automated rebalancing, and zero-commission trades.

• Start with employer 401(k) matches (free money)
• Use apps like Robinhood or Fidelity for small amounts
• Automate monthly transfers to make investing habitual
• Focus on low-cost index funds initially

Myth 6: Gold protects against all economic uncertainty

Gold performs inconsistently during inflationary periods, sometimes losing value when investors expect gains. Diversified equity portfolios historically outperform gold over long periods while providing dividend income gold never generates.

Myth 7: Bonds guarantee safety

Rising interest rates in 2022 caused bond funds to lose 13% on average, shocking investors who believed bonds couldn’t decline. Both stocks and bonds serve important portfolio functions, but neither offers guarantees.

Myth 8: Trust your gut over research

Dalbar’s research shows individual investors consistently underperform market indices by making emotional decisions. Your “gut” tells you to sell during crashes and buy during bubbles—exactly opposite of profitable behavior.

Myth 9: 401(k) plans are your only retirement option

IRAs offer more investment choices and flexibility than most 401(k) plans. Taxable brokerage accounts provide access to funds before age 59½ without penalties. Health Savings Accounts offer triple tax benefits when used strategically for retirement.

Myth 10: You’re too young or too old to invest

Starting at age 21 versus 31 can mean retiring a decade earlier with the same lifestyle. Investors in their 60s still have potentially 20-30 years of growth ahead, making appropriate stock allocation crucial even near retirement.

Real Success Stories From Myth-Busting Investors

Sarah, a Complete Controller client and bakery owner, kept her business profits in savings accounts for years, believing she lacked investment knowledge. After learning about index fund simplicity, she began investing $2,000 monthly in a diversified portfolio.

Five years later, her investment account surpassed $150,000 despite contributing only $120,000. The $30,000 gain came from simply abandoning the “investing is too complex” myth and taking action with a basic strategy.

Another client, Marcus, sold everything during the March 2020 pandemic crash, convinced the “market was gambling.” He missed the subsequent 70% rally, costing his retirement account approximately $280,000 in gains. His story reminds us that myths have real financial consequences.

Your Action Plan for Smarter Investing

Week 1: Education Foundation

• Read one investing book (suggest “A Random Walk Down Wall Street”)
• Open an investment account with a reputable broker
• Calculate how much you can invest monthly without strain

Week 2: Strategic Planning

• Determine your risk tolerance through online questionnaires
• Set specific financial goals with deadlines
• Choose between DIY investing or robo-advisors

Week 3: Initial Investments

• Start with broad market index funds (like VTI or VOO)
• Set up automatic monthly contributions
• Consider target-date funds for hands-off approach

Week 4: Long-term Habits

• Schedule quarterly portfolio reviews
• Join investment communities for ongoing education
• Track progress without obsessing over daily fluctuations

Common Pitfalls That Sabotage Investment Success

Analysis paralysis keeps potential investors researching endlessly without ever starting. Perfect timing doesn’t exist—good enough timing practiced consistently beats perpetual planning.

Lifestyle inflation erodes investment capacity as income rises. Automation prevents this by investing raises before you adjust spending habits upward. Pay your future self first through automatic transfers.

Following hot tips from coworkers or social media influencers replaces one myth (investing is too complex) with another (shortcuts exist). Boring, diversified strategies outperform exciting speculation over time.

Ignoring tax-advantaged accounts costs thousands annually. Maximize 401(k) matches, contribute to IRAs, and understand how different account types affect your after-tax returns.

Building Lasting Financial Confidence

Financial confidence comes from understanding basic principles, not mastering complex strategies. Most successful investors use simple approaches executed consistently rather than sophisticated tactics applied sporadically.

Gen Z investors prove that anyone can start investing successfully. With 54% beginning before age 21, they’re rewriting traditional narratives about who belongs in the market. Their tools—apps, fractional shares, automated investing—are available to everyone.

Professional guidance helps when complexity increases, but starting doesn’t require expert help. Focus on low-cost index funds, regular contributions, and time in the market. Sophistication can come later if needed.

Taking Control of Your Financial Future

Twenty years of watching clients transform their finances taught me that myths, not markets, are the real enemy of wealth building. Every day you delay investing because of false beliefs costs real money—money that could fund your dreams, secure your retirement, or create generational wealth.

The data proves investing isn’t gambling, doesn’t require wealth, and rewards patience over timing. Young investors are already rewriting the rules, starting earlier and simpler than previous generations imagined possible.

Start where you are with what you have. Open an account this week, fund it with whatever amount feels comfortable, and begin the journey from myth to wealth. Want expert guidance tailored to your situation? Contact the professionals at Complete Controller for strategies that fit your business and life.

Frequently Asked Questions About Investing Myths

What’s the minimum amount needed to start investing?

Many brokers now offer zero minimums and fractional shares, meaning you can start with as little as $1, though $50-100 monthly creates better momentum and habit formation.

How do I know if I’m ready to invest versus paying off debt?

Generally, invest while paying down debt if your expected returns exceed debt interest rates, but always eliminate high-interest credit card debt first.

Should beginners use robo-advisors or pick individual stocks?

Robo-advisors or index funds suit most beginners better than stock-picking, providing instant diversification and removing emotional decision-making from the process.

What percentage of income should go toward investing?

Aim for 15-20% of gross income for retirement, starting with employer match amounts and increasing by 1% annually until reaching your target.

How often should I check my investment accounts?

Quarterly reviews work best for most investors—frequent enough to stay informed but not so often that short-term volatility triggers emotional decisions.

Sources

• BlackRock. (n.d.). “5 Myths of Investing.” www.blackrock.com
• Cambridge Associates. (2016). “Over the Long Term, Diversification Still Wins.” www.cambridgeassociates.com/insight/long-term-diversification-still-wins/
• Chase.com. (n.d.). “Debunking Myths About Investing.” www.chase.com
• CIRO. (n.d.). “Top Ten Investing Myths—Debunked.” www.ciro.ca
• Dalbar Inc. (2024). “Quantitative Analysis of Investor Behavior Report.” www.planadviser.com/investors-bad-behavior-led-sharp-underperformance-2024/
• Edward Jones. (n.d.). “3 Common Investing Myths Debunked.” www.edwardjones.com
• Fidelity Canada. (2024). “The Power of Compound Interest: How to Turn Small Investments into Wealth.” Chitrathorn, B. www.fidelity.ca/en/insights/articles/the-power-of-compound-interest/
• HSBC UK. (n.d.). “Myths about Investing.” www.hsbc.co.uk
• Julius Baer. (n.d.). “Debunking the 10 Most Common Myths of Investing.” www.juliusbaer.com
• Minster Bank. (n.d.). “The Difference Between Investing and Gambling.” www.minsterbank.com/resources/learn/blog/personal-finance/investing-and-gambling/
• Sun Canyon Bank. (2024, September 27). “Financial Fact Check: Debunking Five Common Money Myths.”
• Western & Southern. (n.d.). “5 Common Investment Myths Debunked.” www.westernsouthern.com
• World Economic Forum. (2025, March 26). “New Research Finds Retail Investing Shift Towards Younger Investors Reshaping Market Trends.” www.weforum.org/press/2025/03/new-research-finds-retail-investing-shift-towards-younger-investors-reshaping-market-trends/
• YCharts. (n.d.). “Debunking Investing Myths.” www.ycharts.com

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Home market forecast for homebuyers in 2022

Relatively higher mortgage rates. With substantial real economic growth in the first quarter of 2021, which allowed for $1,400 in incentives for individuals under the American Rescue Plan Act, rates rose. Compared to the 2.66% rate observed from December 2020 to January 2021, we will see a more significant rise in mortgage rates in 2022. As a result, the increase in mortgage rates will have a slight dampening effect on demand. It means that buyers attracted by low mortgage rates may have to step back.

Freddie Mac estimates that 30-year fixed-rate mortgages will average 3.4% in Q4 2021 and rise to 3.8% in Q4 2022. It will have a stabilizing effect on price growth as the price, and the stock issue continues. Freddie Mac forecasts home prices to rise 6.6% in 2021, slowing to 4.4% in 2022, with sales of new and existing homes expected to reach 7.1 million in 2021 before declining to 6.7 million homes in 2022.

It is expected that in 2022 the number of mortgage loans issued will decrease. Refinancing sources will drop from $2.55 trillion in 2020 to $1.84 trillion in 2021 and $771 billion in 2022, and $2.39 trillion in 2022.

Property values remain high

Zillow’s market forecast shows that U.S. home prices will rise 11.8% by April 2022. Zillow Economic Research forecasts annual home value growth to rise to 13.5% in mid-2021, with home values up 10.5% by the end of 2021 from current levels. Zillow predicts sales will remain strong next year and reach 6.9 million sales in 2021, the highest since 2005.

House prices are expected to continue rising at historically high rates during the first quarter of 2022. According to experts, the current rise in house prices is like the rise in prices that preceded the 2009 recession. However, the circumstances that led to both growth cases in the house’s historical value are entirely different.

A double-digit acceleration in home value growth could drop significantly in the real estate market in 2022. Freddie Mac predicted that home values would rise by 6.6% at the beginning of the year. We have seen prices rise twice as fast in 2021, and prices are still on an upward trend. In 2022, they forecast prices to increase by 4.4% as an influx of new inventory, especially between the second and third quarters, stabilizes prices.

The boom in housing construction

Builder Sentiment the National Association of Home Builders (NAHB) measures how builders see the housing market regarding what demand for new homes currently exists and what direction is expected. A score greater than 50 indicates a favorable outlook for home sales. In April and May 2021, builder confidence remained unchanged at 83, despite the ongoing price problem and the shortage of construction materials. Builders will need to build 1.0 million to 1.2 million single-family homes to fulfill long-term demand.

However, as prices of some building materials stabilize in 2022 and builders acquire new stock, we may see new construction flourish. The Mortgage Bankers Association (MBA) expects single-family homes to start hovering around 1.134 million. And this might be the beginning, as future projections are even more optimistic: 1.165 million single-family homes in 2021 and 1.210 million in 2023.

Like people moving out of big, expensive cities like San Francisco, fewer people will move to cities like Austin, where home prices have skyrocketed. As demand changes, small towns will become much more competitive, resulting in comparatively higher price increases.

Our real estate outlook points towards compensation for housing prices in U.S. cities. Homes in the heart of the Midwest and South, like Memphis, Tennessee, will be some of the best places to find home buyers and real estate investors in the 2022 real estate market. It may be some time before demand in significant cities returns to pre-pandemic levels as more companies take on work from home.

Real estate market forecast until 2022: how working from home affects housing

Outdoor rentals offer higher rates on short-term rental sites like Airbnb. Suggests that people are more interested in spending time outdoors. Single and multi-family homeowners who prioritize high occupancy and long-term value valuation may want to invest in outdoor grills, a children’s play area, gym garden areas with benches, and luscious green landscapes. Even in public places of recreation for HOAs, an increase in pedestrian flow is observed. We expect both tenants and homeowners to want to spend more time socializing and getting some fresh air. And yes, they will have more free time with the current work-from-home trend.

Rent growth in some cities

As home value growth slows, rental prices will continue to rise in 2022, eventually outpacing home value growth. As expected, homeowners want to recoup profits lost because you extended the moratorium on evictions by more than 12 months. According to a Business Insider article, “price-tracking housing inflation is forecast to skyrocket, just as price increases elsewhere cool off.”

The June 2021 National Apartment Rent Report suggests that rents across the country continue to rise. The National Apartment Listing Index rose 2.3% from April to May, representing a record rent increase for the third. Annual rent growth is currently 5.4% nationwide. In cities like Boise, where rent growth was the fastest year-over-year, rents rose 6.6% in June alone. In Boise, rental prices have increased by 31% since April 2020. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The freelancer, often known as self-employed, is an independent contractor who makes his own decisions and organizes the duties delegated to him. As a result, the term “freelancer” has come to mean “professional autonomy” and “independence.”

Difference Between Freelance and Employee

The lack of a subordinate relationship between his client and him distinguishes the freelancer’s definition from that of an employee. A freelance worker is not subject to the commands of an employer in the performance of his tasks because he is not employed under a traditional employment contract. As a result, a freelance contract differs from a permanent or fixed-term contract.

What is the mission of the freelancer?

The freelancer is involved in completing a mission on an ad hoc basis for a short period while working within the terms of a service or sales contract. As a result, he controls his customers and the orders he processes.

Who can become a freelancer?

In theory, anyone can work as a freelancer. The freelancer can be found in various market economy sectors, including crafts, agriculture, and numerous liberal professions. It has made strides in IT and intellectual services in recent years.

Indeed, the names and opportunities open to professionals are endless: freelance developer, freelance translator, independent consultant, freelance commercial assistant, freelance writer, freelance photographer, freelance journalist, or freelancer in marketing.

The self-employed scheme

The status of auto-entrepreneur or micro-entrepreneur, which came into effect in 2009, refers to anyone identifying as an independent entrepreneur. As a result, this status does not apply to a separate legal organization.

Organize your space and plan

To better manage oneself, the freelancer should create a separate space dedicated solely to their professional activities so that they do not interrupt their personal lives and can focus. He must also create a detailed timetable to which he must adhere as closely as feasible to meet the mission’s processing deadline.

Promote your business at social events

As a freelancer, you must step outside of your comfort zone and attend various networking events. It will enable you to benefit from the numerous opportunities available in your industry and the advice of other freelancers and better understand specific facets of the profession, such as what a freelance salesperson is.

Choose your clients

It may appear to be a strange place to begin, but in my experience, it is the most crucial step for everybody. We tend to be on the lookout for work as freelancers, and we don’t want to turn down a prospective new client. However, there are occasions when you must say “No.”

There are no simple guidelines for determining which consumers will pay on time and which will not. However, a little study could be beneficial in this case.

Examine the company’s history and reputation. Is this a new business? Is she tall or short? Is she a natural person with a real office, or does she merely exist in the Internet’s wires?

If you work with individuals, attempt to do the same thing with their beginnings. What companies have they worked for in the past, and have they ever recruited freelancers? Do they also have a strong web presence? You can learn a lot about someone by looking at their LinkedIn page or website, and those who are engaged online are more conscious of their online reputation, making it less likely that they will be paid or attacked on social media.

You can also use forums, ask other freelancers you know, or Google the customer’s name plus words like “scam,” “unreliable,” “poor client,” or anything else you can think of. Think. On a forum or blog, another freelancer may make a complaint or issue a warning.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Many books have been written about the differences between management and leadership in the current years. An organization’s management and leadership are both critical. Because management rights are derived from the organizational structure, they help maintain the structure’s stability, order, and problem-solving abilities. On the other hand, leadership is derived from an individual’s attributes, such as interests and ambitions, and it adds to the organization’s development of vision, creativity, and transformation. The following headings enlighten the five key differences between leaders and managers; however, keep in mind that some people have both.

Inspiration VS Control

Managers are usually given titles that give them authority. If you’ve ever worked for authority about following the rules and getting things done, you realize there’s a vast difference between power and influence over others. Not all managers have been able to influence and inspire others, which is a crucial characteristic of leadership.

On the other hand, junior developers who come to work every day, excited about developing solutions that will help our clients, are some of the most inspiring people in my organization. They don’t have the word “manager” in their name, but their brilliant ideas and excitement motivate the rest of us to think about the company’s long-term goals, making them exceptional leaders.

Managers have subordinates, and leaders have followers

A manager’s primary responsibility is to guarantee that the company’s policies and procedures are followed. While this is an important job, it does not necessarily imply that you will become a leader. Building trust and respect, and hence perceptions of who is worth following, is essential in leadership. Counting the number of people that come to you for help (excluding your direct reports) is a proven approach to see if you’re a leader. I worked for a software development firm before starting my own company. My colleague is regularly interrupted by coworkers who want to ask inquiries. He isn’t a manager, but his work ethic and integrity make him a leader.

Emphasize the culture instead of the results

While it may seem exhausting to take your eyes off your computer and sit down for a cup of coffee with a coworker, keep in mind that when you invest in your staff, your outcomes will increase as time goes on. Measuring performance is one approach to help a firm flourish. On the other hand, actual long-term growth is more than just numbers. It’s all about cultivating a culture where employees share your company’s fundamental values and are inspired to execute their jobs better because they care about them. When trying to be a good leader, shifting from a digitally oriented to a people-centric mindset is necessary.

Leaders focus on the future rather than the present

When I was a young person, I remember being terrified when my parents told me that I needed to clean my (apparently unclean) room. The cash reward (equal to $1) on weekends was the only thing that kept me motivated to clean the room. I began to think more strategically as I grew older. I want to buy a new bike, but I know I’ll need to earn more than $1 every week. So, I urged my parents to go above and above, and after months of hard work and laundry, I was able to bring my shiny red bike home. I didn’t realize it at the time, but I had the mindset of a leader. Leaders envision the future, whereas managers focus on current responsibilities (cleaning the room to avoid trouble). Managers manage activities to cross them off the to-do list, but leaders are motivated to finish tasks because they see the big picture.

Focusing on directions of a vision instead of providing instructions

Managers can persuade individuals to follow the rules. On the other hand, leaders train their followers rather than imposing their will. An enthusiastic basketball coach was the best teacher I’ve ever encountered. I have some fantastic professors and teachers at school, but my coach’s practical approach is what I need. He didn’t simply give us instructions; he meticulously planned each game in a notepad, which he eagerly shared before each round. He didn’t just teach me how to be a good basketball player; he also coached me on how to improve in areas where I was weak. I was a better golfer by the season’s conclusion, but I was also a better person. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Benefits of Food on Wheels

Below are the main advantages of a burger on wheels as a business project.

•   Requires less investment than a regular street food outlet

If you need from $300,00 – $800,000 to open a full-fledged cafe, the snack bar will cost much less – especially if you rent a van.

•   No need to hire a significant number of employees

A maximum of two employees can work in such a diner. Usually, these are two cooks or a cook and a cashier. Often there is only a cook in the van who also accepts payment. With a large influx of people, you can take a second person.

Food truck business idea: Where to start and how much you can earn with a food truck

You will not be able to be present in the burger shop all the time. Due to physical impossibility, you can outsource accounting and the manager and technologist. There is not enough space for three people and a full-fledged kitchen in a classic van.

•   Pays off quickly

The payback period for such a business is from one month. It is significantly less than the payback period of a standard cafe or street food outlet.

•   Can move in any direction

The food truck can move inside your city or travel outside into the region with special permission. You can empirically find the best food outlets and sell burgers there at the best time. It also contributes to increased sales and a quick return on payback. However, to obtain such a permit, you will need to collect a package of documents and hire an experienced driver.

•   Low competition and the opportunity to make good money on each dish

Intense competition and high mobility make it possible to charge a specific type of burger at regular prices from twenty percent. If you set up a diner for the day in a wired location where there are no other restaurants or cafes of this type, burgers and other dishes will be bought at any price you set – within reason.

Food Truck Business Plan

Before starting your business, you need to write out a detailed plan that includes all the project characteristics, market analysis, costs, and expected income.

Food truck business idea: where to start and how much you can earn on a food truck

• Project description

In the description, explain how your food truck will differ from other similar businesses in the area. Here you can also insert a table with analytics of competitive companies and a description of their pros and cons, which will help promote your food truck.

Write how your business will differ from a regular burger one and what advantages you see in opening it. If you are looking for investment, you can show the business plan to potential investors or sponsors.

• Target audience analysis

Analyze the audience that might be interested in your offer. The analysis consists of a description of age, income, place of residence, and food habits. The audience can be divided into several streams – students going out for a snack during a long break, office workers looking for an inexpensive lunch option near the business center, city guests, etc.

• Goal setting

Set a specific goal – for example, the desired payback period. A business plan focused on the next goal will need to be prepared in your business’s second or third month.

• Production plan

What will you serve? Which will you offer dishes to customers ready-made, and which will need to be cooked before the client? What products are required for this? What equipment will need to be purchased, at what cost, and where? Write down the answers to these questions.

• Financial plan

The most voluminous block of the entire business plan will contain detailed information about what will need to be purchased and spent. In the financial plan, indicate the costs of opening an individual entrepreneur or LLC, the wages of all employees you plan to hire, the prices of renting or buying a food truck, purchasing ingredients and equipment, and purchasing a cash register with a service license, and so on. The financial plan should contain all possible items of expenditure, not only for the starting stage but also for the full continuation of the activities of the food truck.

Every month you will need to pay salaries to employees, renew the lease on the food truck (if you have not purchased one), buy ingredients, and possibly buy or replace broken equipment, which happens infrequently.

A financial plan usually contains:

1. A calculation of the cost of dishes and ready-made products and drinks served in a food truck.
2. Formulas for reaching payback and approximate profit. Their final price for the buyer and benefits for you. 
3. Do not forget about taxes, which also need to be written at the end of the plan.  
4. Food truck business idea: where to start and how much you can earn on a food truck
5. Analyze how much you can bet on burgers based on the average market price. See how much profit will go to you after selling one burger and how you can spend the money.
6. Another expense item is the interior and exterior design of the food truck. Set a specific budget for signage, exterior and visible parts of the interior, branded products, and uniforms for employees. At first, you only need to hire a cook and a driver.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.