Category Archives: Personal Finance

One aspect of wealth management you’ll need to consider sooner rather than later is estate planning. This refers to controlling what happens after your death to your assets for the best interests of your loved ones. You pick who will manage your assets, and act in your place for the benefit of your family. It’sContinue reading “Estate Planning”

Most finance books use the word retirement in their title. “How to Retire”, “Retire in Style”, or some variation thereof. I have intentionally not used that word in my title, and I haven’t used it a ton in the book. That’s because my experience with advising people rarely centers around a specific desire to retire.Continue reading “Turning Investment Into Retirement: Growth VS. Income”

I’m a big fan of professional poker. Doyle Brunson, Phil Hellmuth, etc. are iconic figures who’ve made a TON of money from gambling. When you watch them play, it seems so easy, as if anyone can do it. However, there’s a ton of mathematical calculations from various hands these players must be able to intuitivelyContinue reading “Gambling vs. Investing: Stuff YOU Should Not Invest In”

Once you’ve maxed out your 401K, and invested the extra funds into a regular taxable investment account, at some point you’ll have enough to purchase a single-family home investment property, which is our next recommended investment.  This means you’d be able to cash out your investments, pay any capital gains taxes, and use them toContinue reading “Real Estate”

Once you’ve maxed out your 401K, you should open an account at a financial institution, and buy stocks with the remainder of your savings. In the previous section on 401Ks, I was more focused on the mechanics of the 401K, and the employer match, rather than discussing how to actually invest the money. I wantContinue reading “The Stock Market”

You should first invest in your company’s 401K plan, up to the annual limit. Currently, you can put $19,500 into your 401K plan each year, with an additional $6,500 “catch-up” allowed if you’re older than 50. This is a great deal for several reasons. First, it’s easy. You can have the amount automatically deducted eachContinue reading “401K Plans”

Until you’re a millionaire, investing should be limited to stocks and real estate. That’s it, plain and simple. Those investments are the easiest to get started in, and should be your focus when you’re first investing. Your approach should be as follows: Invest in your Company 401K Plan up to the annual limit; Invest inContinue reading “General Primer on Investing”

The next thing to do, if you don’t already own a home, is to save for a down payment to buy a house. Houses are a great wealth building tool, and offer a source of security and stability for your family. Now instead of rent going to a landlord, your mortgage payments are going toContinue reading “Buy A House”

Ok, now that you’re out of debt, you may be wondering what’s next? Invest in stocks? Buy some real estate? Hold on there a minute! The first thing you need to do is create some margin of safety, or “margin” in your life. This point is the crucial stage of setting a proper foundation forContinue reading “Have a Full Emergency Fund”

You can’t get rich if you have debt. It’s that simple. If you borrow money for your lifestyle, you’re losing. You’re falling behind, and you won’t be able to catch up. Rich people do not borrow money for their lifestyle needs. Let me clarify that. Some rich people do borrow money for investments. I personallyContinue reading “GETTING OUT OF DEBT”