One of the coolest things I’ve read recently came from a blog that I had never visited before. It was an article discussing large gains in Net Worth. This has been something I’ve been thinking about lately since creating my Net Worth goal.
Basically the main point is that there is a significant amount of wealth to be made through “doing deals.” The typical path to wealth is to be frugal and save over the long-term. This can work, but the post advocates looking outside that typical path to take appropriate risk by doing deals that will more rapidly increase your Net Worth. Although I do advocate growing wealth slowly over time, I have also see the significant impact that doing wise deals can have on one’s Net Worth.
Continue reading “Path to Millions: All About Deals?”
I am currently on vacation in and was discussing my blog with some family and friends. One of the questions that came up as we were discussing personal finance and investing was, “what is the advice you would have wanted to hear when you were 18?”
This is a really great question. I think there is a big opportunity for those of us who have experience investing to share what we have learned and the painful experiences we’ve gained with the younger generation.
In fact, about five years ago I had an older and wiser person share with me some concepts from Dave Ramsey that were extremely helpful to me. Even as a CPA, I benefitted from getting an understanding of the value of living debt-free and the value of being disciplined with my finances.
So here are the pieces of advice I wish had been shared with me!
Continue reading “Advice I Wish I Had When I was 18”
Everyone seems to be obsessed with getting rich right now. What’s the rush? Think about this: its clearly easier to make money writing books about how to get rich quick than reading them. So what is wrong with trying to get rich quick?
Continue reading “Building Wealth Patiently”