I have literally read well over one hundred books that have set forth a formula or system for creating wealth. Some of these are the classics that we all begin to hear about if you’re in the wealth building space for enough time. Some of these, like the classics, are Read more…
I marvel at how many people that I meet on a weekly basis and when the topic of retirement planning or wealth building comes up, how many REALLY bad plans are out there. In fact, I think the default ‘no choice, no options’ plan of “save 10% of your income Read more…
Nowadays the conversation is about whether or not there’s still even a possibility of being able to build wealth at all, let alone how to build wealth in a recession. With the talk starting to mount that the United States is in, or presumably at least heading into a recession, Read more…
There’s a lot of what otherwise would appear to be ‘high level’ conversation nowadays on what it actually takes to build wealth. The leading discussion point is that it’s all about investment strategy and being able to pick winners and losers in the stock market. Unfortunately, this strategy ultimately cheats Read more…
I’ve been dealing a lot lately with individuals who are struggling trying to save and invest for retirement. By and large they all tell me a very similar story; that the basic costs that they insist that they need simply do not allow for any remaining funds left over to Read more…
In a past post I laid out the importance for anyone on their journey of building wealth to have multiple streams of income You NEED Multiple Streams of Income! – Wealth Builders Forum. In fact, I laid out the case that it was critical to create at least 5 different Read more…
I think it’s probably pretty obvious to all of us nowadays that one of the not-so-secret secrets to building wealth is being able to have as much control over the wealth building process as possible. However, due to the way that the system for investing in retirement is set up Read more…
Earned Income is the Highest Taxed Income I’ve obviously talked about the importance of tax-deferred investing many times before in other posts https://thefinancialstoic.com/wp-admin/post.php?post=362&action=edit but it’s so important that I need to dedicate a post specifically to discuss how to take advantage of tax-deferred retirement accounts. Let’s be honest with each Read more…
How can the type of employment determine taxation? Easy. It’s what the US government wants to encourage. There’s a now legendary story of Warren Buffet as it relates to taxes. When interviewing Mr. Buffet, a reporter asked him what he thought about the US tax system and he quipped that Read more…
Most, if not all, of building wealth comes down to having the right wealth blueprint in which to do it and executing on that blueprint. Actually, let me add a bit of dramatic flair. It’s about having the right wealth building blueprint and doggedly and relentlessly executing upon that blueprint! Read more…