The one essential ingredient that is the most crucial in any wealth building pursuit is time. The only way to multiple the time we have to build wealth is to use other people’s time. The grand irony is that every Read more…
In another post, I talked about the 4 different types of employment. In particular, I stressed the importance of moving from being an employee to being someone who owned the mechanism to generate income, either as being self-employed, owning a Read more…
I credit Robert Kiyosaki in his seminal book ‘Rich Dad Poor Dad’ with identifying and defining the 4 basic types of employment; (1) Employee, (2) Self-Employed, (3) Business Owner and (4) Investor. It was the first time that I had Read more…
I’m just going to come right out and go on the record. I’m not that talented of a stock picker. I don’t have any particular skill at it and I certainly have no ability to know when the market is Read more…
No. This is not a post about the 1%. It’s also not a post that describes why some people are wealthy and others are not, although there may be some great practical lessons in that on building wealth. This is Read more…
There are a whole mess of myths and ‘tall tales’ in the wealth building space nowadays. There always has been. However, the tallest of all the tales perhaps is what is being touted as residual and passive income. These two Read more…
Lately, I’ve been doing a lot of work with the students that I work with discussing the bigger strategic elements of building wealth along with the primary tactics. What I like to do in particular is to focus on those Read more…
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. 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 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 Read more…