In 2019, I started a financial literacy blog to share my life lessons on building wealth. I'm now transitioning to add a podcast for those who enjoy listening versus reading. The goal here is to help you improve your financial and investment knowledge, make better decisions than I did in my younger days, and, most importantly, acquire financial freedom.
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If you missed the top ten best days in the S&P 500 for the past nine decades (Total of 90 days forgotten out of ~2,340 total days), your ROI was 91%. If you had simply sat through the ups and downs and been in for ALL 2,340 days, your returns were 14,962%.
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THANK YOU TO ALL THE PEOPLE KEEPING AMERICA GOING! A special thank you to all the men and women in health services who are staying on the job to protect us. The men and women staffing and restocking grocery stories, drug stores and convenience stores. And all the others going out every day to keep our economy going as close to normal as possible. Thank you to those working in police, ...
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Fears of health and economic fallout from the coronavirus outbreak pushed the U. S. Stock Markets into Bear territory (down at least 20%) this week. Of course, we are ALL concerned, but panicking has never fixed any of my problem. {Maybe with the exception of that monster from my childhood closet. It was YUGEEEEE!} PLEASE STOP HOARDING TOILET PAPER {WHY TOILET PAPER?}, SANITIZERS, AND EVERYTHING ELSE! You can’t find hand ...
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A large percentage of today’s retirees are facing a “longevity crisis” and outliving their savings. Some of my friends are facing this very real crisis. One spent the bulk of his 401K on his three kids’ college education. Because he loves his children. Two have small pensions and are financially struggling. Another is afraid he cannot afford to retire. When you add in the risk of catastrophe illness, their risk ...
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ONE OF THE WORSE MISTAKES YOU CAN MAKE WITH YOUR 401- K WHEN CHANGING JOBS Several years ago, a good friend confided she cashed out her 401K and spent the money. At the time I thought an unwise decision. But of course being less diplomatic (hard to believe right) I said something more in the line of: YOU DID #$@% WHAT ? I was reminded of this story last week, when I ...
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Congratulations on accumulating a YUGEEE portion of your retirement money in a 401-K! As you approach retirement you need to decide what to do with YOUR HARD EARNED MONEY, currently sitting in one or more 401K Plans. This is a nice problem to have! SOME OPTIONS FOR AFTER RETIREMENT Keep your money in your 401-K Plan(s).Roll into an IRA or a ROTH IRA and convert to Exchange Traded Funds (ETFs), to lower fees.There ...
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BUILDING WEALTH BY PAYING YOURSELF FIRST I am an engineer/geek and I never liked traditional budgets. Instead I save money and grow my wealth by ALWAYS PAYING MYSELF FIRST! I am my most important debit. BUDGETS – YAWN BUDGETS Raise your hand if you love budgeting at home or work. That’s what I thought! Budgets sound great in theory but how many people do you know who have stuck with their budget.In a world where majority of us ...
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THE IRA PLAN IS A WEALTH BUILDING TOOL
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THE MILLIONAIRE STARTER KIT - 401-K PLAN Top of the Day Dear Readers! There are too many savings strategies that require quantum physics to understand. Personally I hated physics. One of the best and simplest strategies I used to maximize my wealth is the 401-K plan, especially when powered by compound interest. When you combine the magic of compounding with the 401K you will see why it is a millionaire-building tool! ADVANTAGES OF A ...
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