If you know me or have visited this site before, I'm sure have grown to realize that I am a supersized advocate for passive income. I believe that growing a diversified balance of income streams will set the foundation for financial independence more quickly than savings and traditional investing alone. The concept is not radical, but implementation and knowing where to begin in this path can pose a challenge. So that's exactly what this post is about. I will highlight some different methods of passive income investing in addition to the pros and cons, and possible barriers to entry for each product.Read More
Protecting and preserving wealth is just as important as building it. Think of wealth as a house. At the foundation are the resources (businesses, education, jobs, skills, etc.) that are the catalysts for growing wealth. The walls and contents are then the investments and assets built/grown upon these fundamental resources. The roof then acts as the protection in keeping all the resources and assets safe. Every component is just as valuable as the next, and all are vulnerable without a properly structured roof.Read More
I talk a lot about the benefits to be had from property investing, but recently noticed that I likely don’t shed enough light on the less flattering aspects that need to be taken into consideration before going this route. The benefits of real estate investing are real and can be a powerful financial weapon for boosting your net worth, but these benefits do not come without their fair share of work, hassle, education and risk.
That being said, here are some of the more cautionary but real lessons I’ve learned during my time as a real estate investor.Read More
I’ve been on a mission to track and reduce my household living expenses for quite a while now. Along this path I discovered some fairly lucrative ways to save across multiple areas of spending that have had little-to-no impact on quality of life.
I’ve decided to compile those discoveries here as one long list broken out by category. Feel free to browse through. My hope is that there are at least one or two items that might also help your household save some money with relatively minimal effort.Read More
Why do you invest?
Such a simple question, right? When asked this, most people’s response has something to do with retirement. But this is normally a canned answer simply because we know we are supposed to save and invest for retirement. The problem is that there is no deeper meaning or motivation behind this type of investment strategy. There’s no excitement. No drive. And I firmly believe this is the primary reason why so many people are underfunded for retirement.Read More