Budget Mentality Versus Net Worth Mentality (GP)
May 15, 2008 :: Financial Planning :: 7 Comments
One of the mantras that we hear a lot in the world of personal finances is "budget, budget, budget." But is this type of mentality really the best way to build wealth? More and more, some in the personal finance realm are starting to switch to a net worth mentality ...
ABC of Wealth Building
February 19, 2008 :: Money :: 22 Comments
At the end of last month, I discussed how the basic net worth formula reveals several money management insights. As part of that article, I started a little game where I ask my readers and other bloggers to join in and list idea to increase income, reduce expenses, save ...
The Weak Dollar is Killing Americans’ Wealth (Reprint)
January 4, 2008 :: Investing :: 9 Comments
I just completed my September net worth review and noticed that I am actually less wealthy. While my net worth went up 1.24%, the value of U.S. dollar went down by 2.26%. You may think that this doesn't concern you, but it does because we are an integral part of ...
Building, Diversifying, and Shifting Your Income Streams
December 5, 2007 :: Making Money :: 47 Comments
I think many of us heard about income streams, active income, passive income, and portfolio income before (if not, I have brief description of each below). I'd like to share some quick observations about active versus passive income as it relates to financial independence and wealth. The image above is ...
Moolanomy weekly roundup #1: “My Favorites” edition
July 29, 2007 :: Weekly Roundups :: 7 Comments
This blog is officially 2 weeks old, and I came across many interesting people, blogs, and posts. Here are this week highlights: The Dough Roller shares his 10 Things I Now Know at 40 That I Wish I Knew at 20 -- a great read for younger folks. I ...
Are You Wealthy? Here’s a Test
July 27, 2007 :: Money :: 14 Comments
To many people, wealthy means having an abundance of material possessions. Wealthy people are those that own big houses, luxury cars, yachts, expensive watches, etc. But is that really wealthy? For me, I would consider myself wealthy when income from my assets can cover all my family living expenses ...
Protect Your Wealth With Exchange-Traded Funds (ETFs)
July 26, 2007 :: Investing :: 7 Comments
In the post Destroy 50% of your wealth investing in mutual funds, I showed you how investing in mutual funds with high expense ratio can cost you 50% of your potential gain. With this in mind, I went back to review my IRA portfolio and found a fund that charges ...
Review of Robert Kiyosaki’s Rich Dad, Poor Dad
July 16, 2007 :: Money, Reviews and Interviews :: 7 Comments
A week ago my wife bought me a book Rich Dad, Poor Dad by Robert T. Kiyosaki. This book has been around for many years, but I didn't read it until my wife literally threw it on my lap. My first reaction was inspired and mesmerized -- the book got ...
