Have you had wealthy friends or family members pass away and later on you find out the only thing they left their heirs was debt? It’s more common than you think and it could have been avoided with simple planning….
The mega-wealthy of their world – particularly the self-made millionaires and billionaires – have made their fortunes in many ways, but there is a common thread among many of them. They have made commercial real estate a central part of…
Everyone knows Bill Gates for founding Microsoft and for being one of the wealthiest people in the world.
As of the end of 2019, his net worth was estimated at more than 106 billion dollars, second only to Jeff Bezos of Amazon. He had previously occupied the top spot for 18 of the past 25 years.
If you ask a barber if you need a haircut or a golf pro if there is anything wrong with your golf swing, you’re likely not going to get an objective answer.
Of course, a barber’s gonna tell you you need a haircut, and a golf pro will pick apart your golf swing. That’s how they make money. You can’t blame them for wanting to make a living, but they’re not always going to have your best interest in mind. The same goes for financial planners – so-called financial experts.
Nobody could have anticipated the Covid-19 outbreak and its devastating economic devastation. In an instant, many fortunes were lost on Wall Street, and millions of jobs were lost on Main Street.
Although no one could have anticipated a pandemic-induced recession, there was a class of investors prepared for some economic retreat – ultra-wealthy investors.
Many of us were raised with solid work ethics. How could we not with endless stories like your parents walking to school uphill both ways in the snow?
This work ethic translated to our school work and our careers.
We did well in high school, studied hard for our SATs, got into our university of choice, got those nice Magna Cum Laude ribbons around our gowns at graduation, and many of us even went on to grad school and became successful doctors, lawyers, and CEOs.
The COVID-19 pandemic is affecting Americans adversely across all social spectrums. Its economic, social, and medical toll is widely publicized.
However, there’s growing evidence that it’s the poor that are suffering disproportionately. Research suggests that the poor and those living in distressed communities are more likely to catch the disease, and because the poor are generally less healthy and have less access to quality health care, they are also more likely to die from it.
The earliest NFL players were jacks of all trades, with many players playing multiple positions on both offense and defense and sometimes playing every down.
George Blanda was one of the best players of his era in the ’50s and ’60s, and he was one of these jacks of all trades. On one play, you’d see him throw a touchdown and then on the next play kick the extra point.
Many investors solely focus on home-run investments. They lust over the memes on social media, like:
“If you invested $100 in BigCompany in 2003, today would be worth $9,000,000. Yeah, that looks about right.”
The smartest investors are not those taking the biggest risks or those backing the next biggest social media app. The smartest investors are those that look beyond ROI.
A long-standing key to wealth is the idea to “pay yourself first.”
“Pay yourself first” was first coined by George Samuel Clason in the 1920s. Clason was a successful entrepreneur who wanted to share his secrets of wealth by distributing a series of pamphlets that delivered nuggets of financial wisdom through parables set in ancient Babylon – once the richest city in the world.