Tag: financial education
Turn a Reverse Mortgage into an Income-Investing Portfolio
At some point, our parents may need to use their primary residence as a retirement plan. We, as their kids, need to remove the emotion from these decisions. Each generation’s retirement years are getting longer, so it could be tough to generate income for 30 to 40 years. This is especially true if they liquid…
The True Costs of Owning a Home
If you are on the fence about owning a home, this article is for you. No matter how bad this makes homeownership seem, it’s still a must. In the following article, I will discuss the VALUE of owning a home. But, before value, I need to talk about the costs. Let’s make one thing clear—owning…
Stock & Bond Investing in Your 50s
If your 40s were all about creating income, then your 50s are about maintaining your portfolio while building generational wealth. Your income should be creating more income in your 50s. This means you should have enough income from dividends to reinvest 30%. If this is not the case, please go back and read the earlier…
Being Mediocre is Not Okay
The world wants you to be mediocre. The best way to sell products, enforce taxes, and inflate prices is to have a society of losers. We should all strive to be our best selves; this prevents us from being average. The new world order uses new catchphrases to keep us at the bottom. Some of…
The Pros and Cons of Closed-End Funds: How Do You Like Your Income?
Learning to invest for income changed my life; I figured out how to build my own paycheck. Most people do not invest for income; they want to get rich quickly. I dividend income investing into six different types, which you can read about here. One of my favorite types of income investing is closed-end funds.…
The Six Types of Income Investing: Sorted by Risk
Income investing is my favorite type of passive income by far. However, it’s not for most people, and it takes an above-average knowledge of financial systems. If you are up for the challenge, I can briefly tour this wonderful “hobby.” Income investing can help you free yourself from the chains of employment much earlier than…
Stock & Bond Investing in Your 40s
There are a few paths you can take in your 40s. You can get into more debt, get divorced, have a mid-life crisis, or become rich. Luckily I choose to become wealthy by making more income than I spend. Remember, wealth is having excess income versus expenses. But I didn’t choose to have a job…
Saving & Investing with $500 per Month
If you can save and invest $500 per month, you are in the elite class of America. Sadly, I am being completely serious. Most Americans cannot save $500 over the course of a year or even a decade. America is a tough place to save because everything costs. If you own a home or have…
Are You Drowning in Debt? Try Building a Relationship with Money
Our parents and teachers train us to be good employees. Unfortunately, this mindset leads to terrible interactions with money. The first step to getting out of debt is understanding the language of money and then learning how we should spend it. The root cause of debt. We live in a consumption-based, spend-first society. However, that…
The Magic of Waking Up Early: The Early Bird Gets The Dollar
The world is programming you to become unsuccessful. Almost every news bite I hear from celebrities and entrepreneurs tells you to work less or focus on finding happiness. Beware of false prophets. Over the last three years, they told you to quit your job, be happy earning minimum wage, and not buy a home. Then…
Learn to Barter and Trade Today: How to Prepare for the New World
We should all be fearful of the future. No, this does not mean living in fear, but having a healthy respect for the fact things will change. Money is becoming much harder to obtain through a W-2 job. If you have a job, it’s like having five jobs because you are doing the work of…
Dividend ETFs vs. Bonds 2: The Tax Edition
After writing “Dividend ETFs vs. Bonds,” I got to thinking about taxes. As we head into retirement, taxes will play a significant role in our decision-making. Let’s rerun the $500,000-401K scenario, but this time with a perspective focusing on taxes. Let’s assume we are 66 years old and drawing social security. What are qualified dividends?…
Stock & Bond Investing in Your 30s
Have you ever heard anyone talk about the “terrible twos” as they raise their children? It’s a time when kids often don’t sleep, can walk and talk, and get into all kinds of mischief. My wife went through this phase twice with our two kids—with me out on assignment most of the time. It’s a…
Dividend ETFs vs. Bonds: The Best Investment for Retirees
Retiring from the workforce can be stressful. We spend our entire lives earning a paycheck and living on a salary. Now they expect us to live on our investments and a small amount of social security. Most of us don’t spend much time learning how to invest. When we retire with a nice nest egg,…
Stock & Bond Investing in Your 20s
Your 20s can be magical if you have the time, patience, and attentiveness to learn about finances. However, most of the time, we are fighting off our hormones. For this series, I assume that you want to start a family and build generational wealth throughout your life. If you want to stay single, you can…
Getting Rich is a Team Sport: The Individual American Dream is Dead
They really did a number on us. They will have us believe that in one lifetime, we can get a college education, climb the corporate ladder, get married, stay married, have children, raise children, fund our children’s education, and save for retirement. Yeah right. The American Dream is much more than $5 million today. With…
Dividend Investing During Turbulent Times
Don’t worry; it will all be okay. This is not the first crisis; it won’t be the last. The best way to handle this situation is to push through it confidently. We can use their philosophy with anything and life, and we should. In today’s case, we are talking about dividend investing during the coming…
Becoming an Entrepreneur #6: Creating Your Sales Funnel
Attempting to sell something to another person seems simple but is quite complex. Very rarely do people just buy things without establishing some form of relationship—either with the product or the brand. Your mission as an entrepreneur is to turn people “off the street” (leads) into people who purchase items from you (customers). Ideally, we…
Don’t Gamble with Retirement 10
A lot has changed since I started blogging about personal finance in July 2020. At the time, retirement planning was something you could do on the side. Why spend all of your time planning for something 30 to 40 years away, right? Wrong! After a crazy turn of events, the only way to retire is…
Becoming an Entrepreneur #5: Building an Audience
Now it’s time to put all our reading, training, and education into action. I firmly believe in the content-first approach to business that the book “Content Inc.” discussed. Welcome back to the Becoming an Entrepreneur Series (Part #1, Part #2, Part #3, Part #4), where we take you from employee to entrepreneur. Why is building…
