Being able to do the work once and create perpetual residual income is truly the brass ring of wealth building. If an individual can do this they can free themselves of their time being linked to the generation of income. In the last couple of posts, I’ve been comparing and Read more…
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 single one of us on the Earth gets exactly the 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 business or as an investor. The point that I was 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 actually seen someone memorialize the difference in the 4 types 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 going up or the market is going down. You want 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 a post about how to create the wealth gap between 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 ‘tall tales’ are the unicorns of the wealth building world. 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 elements that either create wealth or those that eliminate expenses. 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. 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…