When we talk about investing, most people think that there is only one way to do it. If you asked 100 people on the street what you need to be an investor, almost all of them would answer with money. While that is half correct, it is only one of the correct answers. The other one is less talked ... Views: 1497
1. Be your own boss, live and work how you choose and make your own hours:
This one is obvious but it's funny how many people don't really believe this. I know many real estate investors that take multiple vacations a year and brag about a 4 day work week. They generally also work part time ... Views: 1389
Ever wonder what happens to your money when you put it in the bank? How do they pay you interest on your savings account? I'm about to reveal all the answers and I bet you will be shocked about what happens to your money and your loans with banks after the deal is done.
First, it's important ... Views: 6806
Options are higher risk futures that you can buy and sell against stock you own or don’t own. Investors have made and lost fortunes trading options. Jim Cramer made enough in one options trade to quit Goldman Sachs and start his own hedge fund. I only want to mention it briefly because it can be ... Views: 1417
From the time we are born we’re told that making mistakes is bad. When we’re young, we’re scolded for misbehaving. When we get older and start taking exams we are punished for getting the wrong answers and given a bad grade. Our society views good grades as success and you get good grades by not ... Views: 1307
Bonds, types of bonds and how they work can get confusing. I’ll do my best to describe what I know about this area of investing. There are different categories of bonds that you can invest in. All bonds carry a maturity date and coupon rate. The coupon rate is the annual interest rate paid and ... Views: 1572
Understanding types of debt is crucial. Good debt is debt that you have that pays for itself. For example, a rental property or business that you own pays for the loan you took out for it; your money is not going into it. This is the defining line. Bad debt is just about any debt that most of us ... Views: 1631
Debt is bad and you want to get rid of it right away. Nothing destroys lives, marriages and creates more stress than being in debt. The way out is not hard in theory but requires a life change. This is usually were people pass or fail; many times they are unwilling to make a lifestyle change to ... Views: 1428
Ben Bernanke is so busy computing academic formulas that he forgot to go shopping and take a look at what’s really going on out there. He is famously called helicopter Ben after he made the statement that he could drop money out of helicopters to fight deflation. Is that a joke? This guy has a ... Views: 1916
I expect many of you are hearing about the events in Europe and wondering what the big deal is. There were 2 major events that happened in Europe last week, the French and Greek elections. The socialist parties gained major victories which signaled the end of austerity measures. This spells the ... Views: 1358
The following may shock you but it's based on many focus groups and years of research conducted by Thomas Stanley. He has dedicated much of his career to studying the traits and habits of people who have $1 million or more net assets. This is vastly different from people who earn $1 million or ... Views: 2652
Winning the Lottery
75% of all multi-million dollar prize lottery winners declare bankruptcy within 5 years. All of a sudden they have millions of dollars but no plan, no financial education and a bunch of “friends” looking for gifts. The scenario typically plays out like this. The winner ... Views: 886
Studying the price history of gold and silver is fascinating. For over a hundred years the value of an ounce of gold was $20 and an ounce of silver $1. Silver historically has a ratio of 20:1 to gold, so eventually it should match that again - meaning the price should increase. At today's gold ... Views: 1500
There’s nothing better than owning your own home. Not only is there a sense of pride in owning real estate but if you take care of it, there are few returns that can match it over the long term. For most people, their primary residence will fall under this category. If you don’t own a home, now ... Views: 1273
Did you know if you invested in rare coins in 1970, you could have made a 7135% return on your investment? There are many stories in which rare coins purchased by savvy investors (in the 1950's) using only a few thousand dollars, realized hundreds of thousands and even millions of dollars at ... Views: 1112
Ever hear the story of the guy who was rich one day and homeless the next? He wasn't diversified. Ask all the former millionaires that invested in just tech stocks around 1998 and boasted about their wealth before they watched it go to $0. You might think this is uncommon, but it happens more ... Views: 1382