Interview with Rickey stokes about rickeystokes.com news website:
We are so thankful for the constant help from Rickey Stokes, an online news website that has been in operation since 2003. Rickey is a certified public accountant and is currently the publisher of rickeystokes.com news website. To learn more about Rickey Stokes, I asked him to give some insight on his site and how it helps people around the world every day with their financial needs.
-What was your reaction to hearing you have been listed as one of America’s 10 best tax sites?
I am honored by this recognition because my goal at rickeystokes.com has always been to be the most trusted source of information when it comes to taxes in this country and across the world. I feel that I have achieved this by offering relevant information to the different tax jurisdictions and offering a diverse selection of tax guides.
-What is the most important message you communicate?
The most important message on my site is that everyone has to pay their fair share of taxes, including the rich and famous. It’s always bothered me when I hear stories about how well-known people seemingly can pay less than average taxpayers. This leads to an erosion of public confidence in the fairness of our tax system. I believe that everyone must pay his or her “fair share.” I call this the “Three R” justice principle: Revenue, Revenue, Revenue.
-What is your three-step plan to have more money?
I am not rich and I don’t have some special tax trick to get rich fast. My plan consists of a simple and effective approach that anyone can follow — spend less than you earn.
-What is the most important piece of advice you would like to offer someone in your financial situation?
Keep track and manage your investments(s). Don’t rely on the market or any other person’s recommendation. You need to make decisions on your own and manage yourself according to your understanding of what works best for you.
-What is your best tip for investing?
Try to invest in a diversified portfolio that includes real estate, private business and/or private investments. With the right mix of these types of investments, you can help yourself reduce the chance of possible loss.
-What is your advice on basic savings?
Save money! If you don’t save money, you will never make any progress towards financial independence. For example, instead of buying a house with a 30% down payment to get into the market, you could start by putting 20% down and use other methods (like financing) to get into the market at lower loan rates. The most important thing is to start saving as soon as possible – no matter how little.
-What is your advice on choosing the right financial advisor?
Make sure the financial advisor is not on commission, but rather receives a flat fee or hourly rate. You want someone who is doing his or her job because they are passionate about helping you meet your financial goals. Also, try to find out how much experience and background they have managing clients with similar goals and objectives to you.
-What is your advice on taxes?
There are many rules and regulations regarding taxes in every state, nation, province and county in America. Make sure you thoroughly understand these rules before filing any tax forms. You also want to make sure you are filing correctly and correctly reporting your income. You should receive professional help from a tax professional and an accountant.
-How would you define the word “financial freedom?”
Financial freedom is having enough money saved in your bank account, goal and/or retirement accounts to allow your life to be enjoyable, not just financially but also physically, mentally and spiritually.
-What is the most important lesson you learned during your financial journey?
At first it’s hard to feel like you are getting anywhere because you have been going through some tough times, but if you stick with it, keep on saving and investing, eventually things will change for the better. It could be a year, it could be 10 years — it depends on the individual. Just make sure you are putting money away and keeping your mind right because things can and do change.
-What is one of your most memorable moments during your journey toward financial freedom?
When I went to my first tax seminar; I was so in awe of some of these experts that I decided to start an online tax consulting business after getting my certification as a public accountant.
-Why did you start your own website?
I started my site because I wanted to help people like back when I was a young man starting out with little money but hoping to get ahead in life. I worked for a few years for an accounting firm helping more than 100 accountants to get that “white-collar” look. After I left the accounting field to try my hand in the real estate business and watched how easy it was to make a lot of money, I decided I wanted to be a part of that. So, I started my site with the hope and desire to help others.
-What is your favorite quote?
It is from Alexander Alekhine: “Mastery of anything requires two qualities – the first quality is perfection, but the second quality is perseverance.”