Statistically people with children make and have more money. People with a lot of money are more likely to have children. They are also more likely to be married. These are facts that can be measured, not my opinions. This doesn’t answer the question of whether YOU are more or less likely to become wealthy … Continue reading Does having kids make you less likely to become wealthy?
The 3 essential steps that have been most impactful over the decades: Don’t Sweat the Small Stuff- When it comes to SAVING money, focus on the big ticket items, not the small day to day purchases. If you think a $5 coffee is going to have any noticeable impact on your budget, one of two things is … Continue reading Three Best Ways to Save Money
When I was in college, money was tight. I was working multiple part time jobs and going to school full time. I was going to school and studying all day, working in the evenings, then partying until the early morning. I didn’t have a lot of extra time or money. I lived off of a … Continue reading What’s the best way you have used money?
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Wealth is created. Whether on a small or large scale, when someone creates a valuable good or service, they have created wealth. How valuable that product or service is will be determined by the market and their ability to claim their portion of that value. Nearly all of the wealth in the world is tied … Continue reading Is wealth created or distributed?
Come up with an idea that people are excited about. It could be a product or service, big or small, you just need to have something that someone will get excited about. You don’t need very many people to be excited about it either. Start with the excitement, find a way to create and distribute … Continue reading How to make money quickly?
Buy early and buy often- Even if you don’t always pick winners playing the game will benefit you in the long run. If you have a part time job or allowance, invest small amounts every time you can. People who become wealthy buy stocks every single month for their entire life. Risk it all- Making … Continue reading The Best Advice for Teenage Investors
Your goal should be to move out as soon as possible. Even if this means a drastic change in lifestyle and standard of living. I think parents should wean their children off of financial support. Cutting them off completely can often lead to resentment and larger issues. I would suggest by starting to have the … Continue reading Should you pay rent if you live with your parents?
If you are like most people and want an easy low cost way to invest that is totally passive, VOO and others index funds like it are a great strategy. Over the past several decades there have been very few fund managers that have consistently beat the market. Managed funds likely won’t perform any better … Continue reading What would you do if you had to invest all your money in one place?
An actual number is highly personal and specific to the individual. There are a couple scenarios that put you in the wealth category, even if you don’t have a lot of money in the bank. An income stream that is not dependent on day to day working and can support your basic needs. If you … Continue reading When are you considered wealthy?