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 [...]
Wealth “gurus” say that the secret to becoming rich is more cash flow. But what is cash flow and how do you get it? Cash flow is a finance term that used to describe financial performance, and measures the amount of money that comes in and out of a business. Simple put, it is income [...]
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 [...]
For years I listened to the advice of millionaire entrepreneurs as they drove home the idea that the key to becoming rich is to build multiple streams of passive income. I believe, though, that they are wrong. The idea behind having multiple streams of income is that you produce a system that produces money. Once [...]
I sent this to my subscribers to my newsletter earlier this week, and it generated some lively discussion with some people. I thought I’d share it with you… People that are smart enough (or lucky) enough to see opportunity to get in front of a boom before they actually occurs can literally change their life. [...]
The key to creating great wealth is to use financial leverage, right? You’ve probably heard it a hundred times before. In order to make a greater amount of money at a higher rate you have to use “other people’s money.” By using financial leverage, you create the ability to have more purchasing power and get [...]
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:
It’s no argument that Warren Buffett is one of the greatest investors to ever live, if not the greatest. When Warren speaks, the entire financial and investment world listens. While many successful investors will go on to critique and disagree with his statements, more often than not he is right. In short, it would be [...]
