The key to getting rich is no secret. It takes disciplined saving and investing over a long period of time. I frequently give examples such as if you invested $10,000 at age 25 at an assumed rate of 8% and added $500 every subsequent month you would have $2,177,959.01 by age 65 when you retire. Continue reading “Getting Rich Too Late”
Tag Archives: rich
Opportunity Cost of New TV
Today one of my good friends and I were watching a sporting event on my TV at my apartment. I have a 32” flat screen TV that by my standards is pretty large. However, my living room has a lot of space, so it dwarfs the dimensions of the TV and makes it look small. Continue reading “Opportunity Cost of New TV”
Optimism and Pessimism in the Stock Market
From time to time my friends will ask me about my investments in the stock market when they see headlines about the market. For example I once had a friend ask me how I felt about stocks losing 2% for the week due to fiscal cliff worries. If you have read even a few ofContinue reading “Optimism and Pessimism in the Stock Market”
Why I Love Dividends
A well run company with a fair valued stock price that pays a dividend is a beautiful thing. One reason I love dividends is that regardless of the stock price, you will receive the same dividend payment. For example, let’s say you invested $10,000 in JP Morgan (JPM) at a stock price of $100.00. YouContinue reading “Why I Love Dividends”
How Inflation Affects Debt
We have talked about the effects of inflation on the value of the dollar before. Now how does this translate to our everyday lives? One key thing to understand about inflation is how it affects debts that you may owe or that someone owes to you. Understanding the basics will not only help you understandContinue reading “How Inflation Affects Debt”
The Importance of Savings
We have all heard the idiom “Don’t work for your money; make your money work for you.” This is the very essence of how passive income works. You save, invest, or accumulate money in any way that you can, and then you put it into an asset that throws off cash for you regardless ofContinue reading “The Importance of Savings”
Why The Rich Get Richer
Everyone has heard the phrase “The rich get richer”, and that is a true statement in a lot of cases. Most wealthy individuals have a particular mindset that not only allowed them to gain extravagant wealth in the first place but also to continue growing their assets as they accumulate more and more resources. TheyContinue reading “Why The Rich Get Richer”
Cash Generating Assets
One of the best ways to become wealthy is to spend your money on streams of profit. Another way of saying this is to collect cash generating assets. These can be anything that generate cash. They can be a franchised fast-food restaurant, ownership in a stock that pays a dividend, or royalties from a bookContinue reading “Cash Generating Assets”
Money and Medicine for Millenials 