Dr. Dennis Kimbro, author of The Wealth Choice: Success Secrets of Black Millionaires says, “I can tell you unequivocally wealth is not a function of gender, not a function of race. It is not a function of circumstance. It is not a function of condition—how the cards were dealt, which side of the town you were born on, but it is a function of choice, a … [Read more...]
How to Overcome These 4 Wealth Building Roadblocks
The successful understand that true financial freedom is achieved by building or accumulating money producing assets. These assets include: Investment real estate Stocks and bonds Intellectual property that you’ve created Your side hustles Your small business A franchise business Ask any millionaire and they’ve likely built their wealth utilizing one or … [Read more...]
Fix These Top 10 Areas of Wasteful Spending to Reduce Debt and Build Wealth
When it comes to money, it seems we’re all wasteful. According to a recent Hloom poll, more than 8 out 10 Americans admit to squandering money. At the top of the list of wasteful spending is eating out, with 68.9% of survey participants admitting to spending too much money on meals away from home. The US Department of Labor estimates the average US family spends nearly $3000 … [Read more...]
Wealth Building Secrets for Those in the 9-5 Rat Race
Have you become a sucker for the American Dream? You know that quaint little myth which implores you to find a good job, work hard, and live life well in your nice home in the suburbs. The unfortunate reality is that a 9 to 5 job will never allow you to bask in the afterglow of financial freedom. In many cases, a JOB stands for Just Over Broke. Simply ask the 127 million … [Read more...]
3 Concrete Reasons Families Must Focus on Building Generational Wealth
Dr. Dennis Kimbro, author of The Wealth Choice: Success Secrets of Black Millionaires says, “I can tell you unequivocally wealth is not a function of gender, not a function of race. It is not a function of circumstance. It is not a function of condition—how the cards were dealt, which side of the town you were born on, but it is a function of choice, a function of discipline, … [Read more...]
4 Things to Do With Your Money If You’re a Financial Overachiever
Financial overachievers have done all of their financial due diligence—paid off their debt, maxed out their retirement contributions, and maintained at least six months of emergency funds. Once they have achieved these goals, they can grow unsure about what money moves to make next. For the financial overachiever, this state of uncertainty may create a bit of anxiety. Below … [Read more...]
Money Monday: How To Conquer Lifestyle Inflation
Lifestyle inflation, it’s almost inevitable. The more money we make, the more we tend to spend. From the janitor to the physician, the secretary to the businesswoman, our lifestyles inevitably expand to consume our salaries. But the key to building wealth is to spend less than you earn, and then invest or pay off debt with the rest. Income – Expenses = Wealth Building … [Read more...]
Money Monday: How to Determine if You’re Building Wealth or Falling Further into Debt
You’ve set up an emergency fund, eliminated unnecessary expenses, and paid down your credit card debt. But, how do you know that you’re actually making headway in improving your finances? How do you know if all your hard work and effort is actually taking you to a better place financially? Unless you have a way to track your progress, there’s really no way to know where you … [Read more...]
Wealthy Wednesdays: Does Fame Equal Fortune?
by Deborah Owens, It seems not a day goes by without hearing about a celebrity who filed for bankruptcy or is being sued for child support. Most recently, former ER Star Mekhi Fifer was in the news when recent court filings revealed that he owes more than a million dollars in back taxes and is in arrears on child support payments. Fifer is not alone. He joins the ranks of … [Read more...]