HONEY, WHERE IS OUR MONEY?

Recently, the New York Times and other sources reported that over the fifteen weeks of her Presidential Campaign, Kamala Harris spent $1.5 billion and now her campaign owes about additional $20 million, and her staffers were not paid.

I am writing about this because she is not alone in spending more than she had. When I look into our company’s balance sheet, I see that we owe some money to one of the banks. Perhaps, there are less zeros, but the issue is the same – how to pay it back? I had to borrow some funds from the bank and some more from my own retirement account to keep our company going and keep paying salaries to our employees with the hope that interest rates will come down bringing more clients and commissions to Pacific Bay Financial Corporation – the company I have been running since 1985.

Unfortunately, this is not only Ms. Harris’s and my problem. Lately, many of my clients have come to me because they needed to get second loans, lines of credit or to refinance their low-interest rate loans to pay off accumulated debts. One of the clients, who has a $1.3 million mortgage at 3%, is now getting a new $2.5 million loan to pay off all of his debts.

As we come closer to the holiday season, and retailers get excited with the anticipation of improved cash flow, please, please be mindful of your spending. At the same time, if you are looking for a great, unique present, please order one of my books on Amazon or call me at (415) 225-7920 for your personalized copy.

Meanwhile, take a look at the three pictures above, which I took to illustrate my latest books.

Enjoy and Share!