“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.” – Charlie Munger Most people focus on what they need to add to their life to become rich, what may be even more important is what needs to be […]
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A skill is something you do well. Skills can come naturally and they can also be developed through learning, experience, and creating feedback loops to learn how to improve in an area. How much you earn at a job depends on your skill set and how well your employer can monetize it in their business.
10 Skills That Are Hard to Learn, But Will Make You Rich Read More »
Mark Cuban was a hustler from a young age and his first experience with entrepreneurship was buying a lot of garbage bags from his dad’s friend for $3 a box and reselling them for $6 a box door to door. He had the world’s first and only door to door garbage bag subscription service. He
How Mark Cuban Turned His First Million Dollars Into A Billion Read More »
Too many people are never educated about money and how it works. Sadly, many people think that wealth is achieved through inheritance, support of a rich family, luck, greed, or fraud. The school systems around the world train employees not entrepreneurs. Starting your own business, investing, and pursuing financial freedom is seen by most as
Untold Truth About Money: How to Build Wealth From Nothing Read More »
The United States is one of the richest countries in the history of the world. The median income in the U.S. is $65,700 and the median net worth is $121,700. This is the middle, there is a huge variance both below and above this level. The bottom 20% of earners nationwide make $26,685 a year.[1]
Net Worth and Income of the Top 20%, 10%, 5% & 1% In America (U.S.) Read More »
Becoming a millionaire doesn’t happen randomly or by accident, there are specific skills that enable millionaires to build their net worth. A self-made millionaire is someone who has the skills to build a stock portfolio, real estate portfolio, crypto portfolio, or business that’s worth seven figures. This type of success doesn’t happen by accident and
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There are many levels of personal finance with the lowest levels being broke, being deeply in debt, and bankrupt. Being bankrupt means you can no longer pay your debts and must seek the courts protection and settle with your debt collectors. Being deeply in debt means that all your earnings go to debt payments each
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There are rules for making money, losing money, holding on to money, and growing money. There are principles for practicing medicine or law and a framework of rules for success, the same applies to finance. There are strategies for winning at sports or in business and there are also ways to win at money. Here
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When University of Chicago professor Harold Pollack was interviewing Helaine Olen he said that “The financial advice most people actually need is common sense and simple enough that it would fit onto a 4-by-6 index card.” “I started getting emails saying, ‘Where’s the index card?’” Pollack explains. So even though it had more of a
All the Financial Advice You’ll Ever Need Fits on a Single Index Card Read More »
People that are financially successful tend to all use a budget to manage their monthly bills. Even the ones that don’t use a budget have the self discipline to control their spending within the parameters of what their income allows. A budget spends all of your monthly household income on paper before the month begins.
How To Manage Your Money (50/30/20 Rule) Read More »