Hello Folks,

So, I was browsing through a copy of Felix’s Dennis’ How to Get Rich. If you haven’t read Dennis, its well worth the time to do so.

At any rate, whenever I come back to Felix’s book it makes a ton of sense to me. For example, check out this quote:

Never yet have I met a self-made rich man or woman whose family or personal fortunes were not plagued by the burden of creating a fortune, even a small fortune. A rocky marriage; lack of time spent with children; the substitution of expensive gifts to repress guilt created by their frequent absences from home; the concern that their children have grown used to privilege and are consequently slacking in their education or lacking in ambition – all of these come as part and parcel of self-made wealth“.

– How To Get Rich, p. 91.

The great thing about this quote is that it illustrates one of the key things about making money – it requires sacrifice, time and effort. For example, my wife Miel has a high paying job here in Washington DC, but the price we have to pay for her success is that she is often in Africa. This means we can’t really have a normal marriage.

Our blogging is also illustrative of Dennis’ point. For example, to run this blog takes a good two hours per day of administrative work, drafting articles, marketing, HTML work, networking, etc., etc. This often cuts into Miel’s professional time or my study activities at the University. For the revenue the blog brings in, we have to do a lot of work. In other words, there isn’t any real way around the sacrifice required to make serious money.

Best,

James

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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