I learned recently that one of my relatives just purchased a boat. All I could do was shake my head, knowing that this new purchase would continue to take money from his pockets long after the boat had been paid off. Docking fees, maintenance, and gas would be money drains for years to come. He had just made a mistake that millions of us make every year. Instead of … [Read more...]
Money Monday: How A High School Teacher Became A Millionaire Before Age 38
The Book: Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned In School The Big Idea: You can beat the financial pros and become wealthy by simply investing in low risk, low cost index funds. The Author: Andrew Hallam worked as a high school teacher but didn’t let his teacher’s salary hamper his dreams of attaining wealth. By controlling his spending … [Read more...]
Money Monday: Are You Planting Your Financial Harvest?
Money is a like a seed. We can eat all of it now; but in doing so we'll have none left to plant and grow into an abundant harvest. The problem is that our "gotta have it now" culture stresses consumption over planting for harvest. Consumerism beats out investing for tomorrow. Take, for instance, the recent hype surrounding the latest iPad. Thousands stood in pre-dawn … [Read more...]
You Get What You Pay For
A couple weeks back when news of the $5 billion Facebook IPO broke I thought to myself, "I seriously needed to be in on that!" along with a few other choice words of regret. And I'm sure I'm not alone. As I read the articles and the list of investors who will soon be new billionaires or solidly established millionaires well into the hundreds of millions, I had much … [Read more...]