Most people realize that the more money they put away which in turn makes them money, the more money they’re going to have for retirement. Building wealth is REALLY a pretty simple thing when we get right down to it. It’s just…well…we don’t always ‘get right down to it’! In Read more…
I had been working in economic development and working closely with entrepreneurs in particular for almost 20 years before I heard the term or concept of a ‘money machine’. Although I hear that or something similar to that now on a weekly basis, I have to say that 15 years Read more…
In another post https://thefinancialstoic.com/?p=223 I discussed the difference between assets and liabilities. Obviously, it’s exceedingly important to acquire assets due to the fact that the right assets generate income which as you all know is critical in building wealth. Just as important, avoiding the acquisition of liabilities is critical as Read more…
Back in 1998 there was not that much out there as it related to wealth building or the practice thereof. In fact, this was at the very early stage of the Internet as we presently know it and was even before most of the popular bloggers and influencers that are Read more…
It’s not uncommon. In fact, I’m wiling to bet that a very large majority of us grew up hearing and believing the same things about finances. Whether it was from a well-meaning parent or a concerned aunt or uncle, we’ve all heard the same advice. Unfortunately, we BELIEVED it and Read more…
If there was just ONE thing keeping someone from building wealth I can usually guess it 90% of the time without even having met that person! It’s that the money story that they keep telling themselves is corrupting their money mindset. Snoop Dogg may have gotten this right when he Read more…
What is your level of understanding or education around personal finance? Good. Because you really don’t need to know much about personal finance to build wealth. Here’s the craziest answer you’re ever going to hear to this question and I’m damn proud of it. Your level of understanding and or Read more…
Your comfort level as to how you create income is an overall determinant of whether you’ll build wealth in your lifetime and how long it will take. Here’s a concept that took me WAY too long to understand and come to reconcile with; I am worthy to make a disproportionate Read more…