From the category archives:
Can you earn minimum wage and still become a millionaire? The short answer is yes! I am sure you have heard of so called poor people becoming millionaires, although not overnight. I am not talking about professional athletes, entertainers or lottery winners. I am talking about everyday people earning very little money and over time become millionaires. Not just millionaires, but multi-millionaires! Read More…
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The usual definition for extreme includes words like serious, hazardous, dangerous, highest degree, exceptional, severe, physical or mental risk or hardship. I realize that retirement as a goal may be worthwhile enough to take risks, but extreme may be too far. Fool’s gold is anything that turns out to be worthless! Have you gone to extremes for retirement savings? Is it working for you? Read More…
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Did you do any tax planning for 2013? Probably not, you just finished your 2012 tax return and probably already received your refund. I bet it was big and you are using it to pay down debt, invest or just put it in savings. Some of you may even use it for fun things like a trip, shop or a few nice dinners. If you are not aware of the tax changes, you will probably pay too much in taxes next year too! Read More…
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“Impossible is just a big word thrown around by small men who find it easier to live in the world they’ve been given than to explore the power they have to change it. Impossible is not a fact. It’s an opinion. Impossible is not a declaration. It’s a dare. Impossible is potential. Impossible is temporary. Impossible is nothing.” (Muhammad Ali) Don’t tell me it is impossible, but find a way to succeed! Read More…
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Who do you follow? Is it the Jones? Who is your role model? A role model is a person who serves as a model in a particular behavioral or social role for another person to emulate. I hope you have role models you can follow. It may be your parents, relatives, teachers or someone you admire. Don’t confuse celebrities or professional athletes as role models. Choose your role models carefully! Read More…
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A big thinker is always looking for opportunities! Where do you want to be in five (5) or ten (10) years? Have you ever given it thought? Do you have a plan? We all have hopes and dreams, but you can turn those dreams into reality. We often dismiss dreams as something that just happens and you never do anything about it. I used to dream and dream big when I was a kid. What changed? Read More…
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I was reading The Millionaire Next Door again and found out that I am wealthy! The authors offer a calculation to determine if you are wealthy, just multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by ten. This, less any inherited wealth, is what your net worth should be. Why does it matter? It affects my whole life! Read More…
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Winning and losing is part of life! Recently, I watched Super Bowl XLVII and Baltimore Ravens won. The city of Baltimore celebrated and the game goes into history. College sports have bowl games too, but how about the teams that don’t make it into a bowl? There are teams that never win! Can you imagine playing for a losing team? I will chronicle what one person is doing and what they learn from it. Read More…
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Retirement can happen at any time! A typical definition of retirement is the act of leaving one’s job and ceasing work. In my parent’s generation, you kicked back and did not do much. It was a way of withdrawing or retreating from the work world. It may happen at a certain age or when you accumulate sufficient assets, money, investments or savings. Read More…
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That’s right, you are in business and you better be good! You can be in denial because you work for someone or you are a stay at home spouse, but you are fooling yourself. You are in business and you need good skills or you will go bankrupt. Before you panic, you do not need a degree in accounting, business or special skills. A little knowledge and common sense will help you succeed. Read More…
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Krantcents
Any long range plan has shorter term goals too. A
Thomas
Absolutely, Mitch, I’m with you on this. General
Krantcents
Using your example, take away the income (Fed &
