You can increase earnings to the moon, cut expenses to the Ramen level, and invest like Buffett…but don’t forget to have a critical eye out for scammers. A woman lost over $2,000 selling on Craigslist, a business owner’s computer imprisoned, and a couple’s identity in jeopardy.
The pursuit of happiness is a path riddled with potential missteps. You must truly understand how best to utilize money and the most valuable resource it can purchase. It’s not the house, fancy cars, exotic vacations, gadgets, designer clothing, or anything similar that will bring you lasting joy. I’m fairly certain, everyone will agree that this is the best investment money can buy.
Discover Runaway Expenses by comparing your cost of living to the average American. I’m walking through an exercise using data from the Bureau of Labor and Statistics with my daughter. We are going to compare our family’s expenses versus the averages from the Consumer Expenditure Survey. Go through the steps yourself and find areas of opportunity to cut costs or even reveal a philosophical vulnerability, as I did.
You may be losing money by simply not understanding which accounts are the best place to hold your investments for tax avoidance. If you have holdings outside of a retirement account, you’ll want to know these tax efficient investing strategies. Let’s walk through a 10 step process to rebalance and stop paying Uncle Sam more than his fair share.
Forget the online Financial Independence calculators used to predict early retirement and investment returns. I’m sorry, but you need to create a customized plan to FI or hire a professional to do so. Don’t be discouraged and give up based on results of these tools and think, “I’ll never retire, if I need a bajillion dollars to do so.” Let’s see how a typical american family can retire earlier than anticipated.
Becoming a landlord and investing in rental properties was the worst mistake I’ve ever made financially. My story will scare you into thinking twice about trying to become the next “Donald” of your town.