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
11 Skills that Millionaires Master Read More »
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
Reasons Why Most People Are Broke (Must Read) Read More »
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
The 20 Rules of Money Read More »
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 »
Money doesn’t bring happiness in itself, it’s the time, freedom, and experiences money buys that brings happiness. Money can’t solve all your problems but it can solve all your money problems. Money doesn’t change you, it just amplifies who you already are. If you are greedy you will just be more greedy, if you are
Simple Steps to Financial Freedom Read More »
Warren Buffett had an interest in being rich from an early age. He said he read all the books about finance from the Omaha public library by the age of ten years old, and some twice. He tried many small business ventures as a kid selling chewing gum, collecting glass Coca-Cola bottles to return for
This Is How Warren Buffett REALLY Made 95 Billion Dollars Read More »
Net worth is calculated by the total value of every asset that an individual owns subtracted by all their liabilities. Net worth can vary greatly over someone’s lifetime based on where they are in their financial journey. College graduates can even start out with a negative net worth as they have a degree but no
Average Net Worth By Age (Not What You Think) Read More »
There are fourteen primary levels of wealth that are each distinct in their experience both mentally and financially. Most people can look at this list and identify where they are in their financial journey rather quickly. Two keys to personal finance is to number one identify where you are, and number two set goals for
Levels of Wealth Explained Read More »