Any time an investment, business, or strategy is being evaluated, one of the elements to consider is the velocity of money. This is a methodology that many real estate investors use to determine whether or not an investment property is worth their time or not, but it applies in virtually any wealth building strategy. The [...]
Calculating net worth is as simple as taking your assets and subtracting your liabilities. The number you have left over is the total amount of money you are worth today. The tricky part is correctly identifying your assets and liabilities. Your home, for example, can be both an asset and a liability. Assets are those [...]
The road to wealth is paved with assets that will make you rich. But what are assets, what makes them different from other things that you own, and how do you acquire them? By definition, assets are things that you own that can be converted into cash. Assets can be tangible or intangible things, such [...]
Money, finance and wealth building is often overcomplicated, let’s break it down with some free financial advice to live by. It seems as the world evolves, we (Americans at least) become greater and greater over-consumers, and the financial crisis we are experiencing is a testament to that. We buy more than we can afford, we [...]
Recently I barely avoided a potential financial disaster. Like many people who bank online and try to automate their life, all of my bills are paid through my online banking. Month after month for several years I’ve had complete faith in knowing that my bills were paid in full and on time. Until recently… Even [...]
Next to stuffing your hard earned money under your mattress, your savings account may be the worst place to put your money. Inflation rises at 3 – 4 percent a year, which means for every $1 you have now, it will only be worth $0.96 next year, and the following year it will only be [...]
Recently my brother had his email account hacked, which contained a number of personal sent messages and stored data. It reminded me just how careful we need to be when storing or transmitting information online. Here are some tips from CNN on how to protect yourself:
Personal finance planning can seem complicated and difficult. With so many investment products and vehicles, budgeting tools, debt pay down strategies, savings plans, and personal finance jargon, it can be tough to weed through all of the information and figure out where to start. Here’s a quick checklist to make sure you are on the [...]
Regardless if the U.S. is entering (or already has) a recession, there’s no question we’re facing some tough economic times. As a result, people are saving more, corporate profits are lower and the near-term future is bleak. This all translates to a declining, volatile stock market. It’s more important than ever during these times to [...]
It’s been nice to see the stock market hold its ground and have some pretty good days lately, but I opened my mail last week to find my quarterly statement that summarized my portfolio. The first thing I noticed was that my investments had almost dropped 8% this past quarter it was hard to stomach. [...]
