The Magic of Compound Interest

This week, lets start with a quiz: How much money would you have today, if you had invested $10,000 in an S&P 500 Index Fund, in 1980?  With no additional deposits. That’s right one $10,000 deposit and no more! A.  $380,000 B.  $276,000 C.  $433,000 D.  760,000 I will show you the correct answer below and how much you could potentially earn if you did the same thing today. First, lets talk about compound Interest.  Although, ...

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My Journey to Becoming a Millionaire.

My journey started when I was about 12.  I was lucky to have two smart and wonderful parents.  Mom taught me the value of savings and compound interest (future blog).  Dad taught me the value of hard work and self-improvement. I remember the day we drove to the bank and opened a savings account.  I was excited because I always enjoyed saving money!!  Mom deposited some money, I think about $25.  And I ...

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It’s Ok To Be Stupid – Just Not Consistently!

How many truly stupid people do you know who are rich? The objective today is to avoid being consistently stupid. Stupid happens every day and it happens to the best of us. But you can learn from others and from me to avoid making stupid investments. You are on your own in other matters. My definition of stupid: - Making decisions that appear to lack common sense. I cannot count the ...

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Building a Prosperous Society

I see a major roadblock to creating more Millionaire households - the slow destruction of the two parent family. Today, 25% of white households, 50% of Hispanic households and 75% of black households are headed, by single mothers.  What does this have to do with prosperity?  Poverty rates in female-headed families now hover around 40 percent," Ron Haskins of the Brookings Institution recently wrote. "By contrast, children living in married-couple families have ...

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TRAITS OF U.S. MILLIONAIRES

Did you know- Millionaires, make up roughly 7% of American households? US Millionaire Traits• Sixty-seven percent own their own businesses. Not terribly exciting businesses: Welders, Lawn Care, Pest Control, Painters, Electricians, Plumbers, Owners of rental properties-commercial and residential, etc• Eighty percent have a college degree, but often own businesses with little relationship to their formal education.• Ninety-seven percent own their own home• They are FRUGAL and live well below their means. They ...

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