Growing up in an upper-class family with immigrant parents, I’ve been fortunate enough to get to know successful people from all walks of life that came from nothing and rose to the top.
Out of this bunch, there are always going to be bad apples including entitled selfish kids that haven’t worked a day in their lives. Yet just because someone was born into wealth, doesn’t mean you can’t learn something from them, especially if their parents were the ones who manifested the fortune.
My family migrated from Poland in the early 80s. They worked their way up with 1…
When discussing investing, most people mix up speculator, trader and investor but understanding the differentiators is essential to avoiding risk, guaranteeing cash flow and preserving wealth.
With the influx of newly opened brokerage accounts and a rise in retail trading a.k.a gambling spurred by lockdowns and stimulus, most newcomers haven’t internalized one can’t invest without trading but one can trade without investing.
By definition, the word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. …
If you thought Trump was the only guilty billionaire, more like current millionaire at this point who’s been caught in paying no income nor corporate tax for years, boy were you wrong.
The loopholes for billionaires haven’t been easier. Not all of them are your favorite rocket scientists anymore.
The newly released, possibly illegal yet necessary juicy tax return data gathered by ProPublica is something we should’ve gotten our sticky fingers on long ago. …
During a low-interest rate environment, aggressively refinancing your mortgage can help lower your pesky interest-rate payments to be able to invest the leftover proceeds, sweep that liability under the rug, become debt free and have full equity + ownership in your home.
It only seems like a great financial decision to lower your monthly payments.
A mortgage payment is comprised of 2 parts: the repayment of principal and the interest expense that is charged by the financial institution holding the mortgage. …
One is predictable, the other isn’t.
A mortgage payment is comprised of two parts: repayment of principal/face/par value and nominal/coupon/ interest rate expense that is charged by a financial institution (bank) holding your mortgage (debt security/loan) until it’s paid off at maturity. This is a stagnant payment that doesn’t change, whether you move out or not and or refinance. You still have it looming over your shoulders as a liability.
On the other hand, investing in the market comes with risk of losses and underperformance. …
Graduating is one of the craziest moments in one’s life. If you have or had the privilege to do so, you are already ahead of 80% of the world.
But the next challenge isn’t reading the Latin foreign script on your diploma, which by the way can be a true test, but rather what happens afterwards which all starts a few years prior.
Granted, most students don’t plan ahead. They are the kings of procrastination and leaving things till the last minute until a handy dandy Google calendar alerts pops up on the screen. …
In this day in age as digitally savvy consumers and users, ads are one of the most annoying pesky things in this world and there’s no real consensus on how to get rid of them.
They are little ants laying under a brick. You pick up one side of the brick, you find thousands. On the other side, you find a village with even more.
Ads make up a majority of revenue for advertisers, marketers and companies. Without our eyeballs glued to our addictive screens all day, they wouldn’t be nearly as successful.
Remember when ads were only shown on…
Moderation is key in everything.
Too much of a good thing can get dangerous. From exercise to the fad of ‘clean eating’, these so called, ‘un-harmful habits’ can turn into an unhealthy lifestyle ruled by orthorexia and obsession.
Same thing in the markets. Too much tinkering, pondering, manipulation, stipulation and observance can be deadly to your gains.
The terms, asset allocation and risk management are thrown around the personal finance world for a reason. …
To amass a fortune that lands you in the top 10% or higher, 100%+ of the journey requires the right mindset.
I firmly believe the quality of your mind is your life.
If you believe you can’t, you won’t.
To set yourself apart from the rest of this world is easier than you think.
For one, simply by being you, you are already unique.
Everyone is already taken so there’s no point in trying to imitate someone else or pretend you aren’t authentic because that simply isn’t true.
Even if Steve Jobs practiced and followed the same steps he took…
It can be difficult to get rich without the luck, preparation and timing but it’s even harder to sustain it.
With broke lottery winners and first million dollar paycheck athlete bombers, sadly there’s little to no chance someone can sustain a million+ paycheck for the rest of their careers, let alone a year without financial literacy.
Luckily these days you can get rich through multiple sources doing less work not just through a generic paycheck that steals most of your money and stashes it into Uncle Sam’s stuffed pockets.
To be clear, rich isn’t solely the level you hit in…