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How to get wealth and keep it.
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Any fool can make money.
Keeping it requires intelligence.
Keeping it requires intelligence.
After accounting for inflation, median household income has increased by 15% since 1970.
That's an average yearly wage increase of 0.3%.
Meanwhile, after inflation, housing prices have increased by 43%.
That's an average yearly wage increase of 0.3%.
Meanwhile, after inflation, housing prices have increased by 43%.
This means a couple things:
You need to borrow more.
Your salary has become less powerful.
More income is tied up, meaning you have less to invest.
Dropping your Netflix subscription won't get you to early retirement.
Diversifying your income will.
You need to borrow more.
Your salary has become less powerful.
More income is tied up, meaning you have less to invest.
Dropping your Netflix subscription won't get you to early retirement.
Diversifying your income will.
Diversifying your income doesn't mean quitting your 9-5. There are a lot of useful perks to having a "normal job".
(more on this later.)
However, it does mean finding income outside of 9-5.
However, it does mean finding income outside of 9-5.
Entrepreneurship is not always the answer.
For every 1 success story then are 9 stories of failure.
It is not a golden ticket to retiring on a beach in Maui at 35.
The bad habits you have in your 9-5 will only get magnified by self-employment.
For every 1 success story then are 9 stories of failure.
It is not a golden ticket to retiring on a beach in Maui at 35.
The bad habits you have in your 9-5 will only get magnified by self-employment.
There is no shame in giving up nights and weekends to hold a second job.
Nothing productive comes out of partying anyway.
Additionally, you can successfully run a side hustle from the safety of a 9-5.
Nothing productive comes out of partying anyway.
Additionally, you can successfully run a side hustle from the safety of a 9-5.
Investing is another way to let your money (rather than your time) work for you.
If you have a "normal job", take advantage of 401k matching.
This means you'll also be letting someone else's money work for you.
If you have a "normal job", take advantage of 401k matching.
This means you'll also be letting someone else's money work for you.
The best investment advice comes for free.
Be careful when someone sells you advice for a commission or is locking information behind a $250 eBook, like these Money Twitter "gurus" that have been known to steal content:
https://twitter.com/CoachJoeHart/status/1304431719211302912?s=20 https://twitter.com/CMillerTalks/status/1304518220603207680?s=20
Be careful when someone sells you advice for a commission or is locking information behind a $250 eBook, like these Money Twitter "gurus" that have been known to steal content:
https://twitter.com/CoachJoeHart/status/1304431719211302912?s=20 https://twitter.com/CMillerTalks/status/1304518220603207680?s=20
Invest your money in ETFs or sectors you're passionate in, then leave it.
This will minimize capital gains tax, minimize unsystematic risk, and maximize growth.
This will minimize capital gains tax, minimize unsystematic risk, and maximize growth.
If you invested in an S&P 500 ETF and left it for the last 20 years you would have SAFELY turned $100,000 into $315,000 AFTER inflation and with virtually NO risk.
If you're okay with more risk, investing that same money in Apple or Amazon would set you for retirement.
If you're okay with more risk, investing that same money in Apple or Amazon would set you for retirement.
If someone is selling you information on how to "beat the market", they are making money off of you.
The only people smart enough to beat the market aren't on Twitter because they're wealthier than you can imagine.
"Get rich quick" really means "get ME rich quick".
The only people smart enough to beat the market aren't on Twitter because they're wealthier than you can imagine.
"Get rich quick" really means "get ME rich quick".
Dividend stocks have also become a craze lately.
Save these for retirement, when you need the income.
Let your wealth compound first, THEN buy income.
The cup of coffee you can buy now with your dividends is costing you the early retirement you can obtain through growth.
Save these for retirement, when you need the income.
Let your wealth compound first, THEN buy income.
The cup of coffee you can buy now with your dividends is costing you the early retirement you can obtain through growth.
$10,000 in $MMM will get you $86.40 in dividends BEFORE TAX. The growth on the stock is minimal. You cannot retire on this.
Put the same $10,000 in a growth stock in $AMZN, you won't have income, but it would have turned into almost half a million over 20 years.
Put the same $10,000 in a growth stock in $AMZN, you won't have income, but it would have turned into almost half a million over 20 years.
Prioritize growth, then buy income.
Dividend Twitter is cutting your growth and delaying your retirement.
Dividend Twitter is cutting your growth and delaying your retirement.
Any god that profits off of you is not worth worshipping.
Prioritize open-source information, then become your own guru.
Prioritize open-source information, then become your own guru.
