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wealth building

Eight Reasons Why Its Hard To Get Rich

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Have ever wondered why its so hard to get rich? In America we love and worship rich people. Guys like Warren Buffet and Elon Musk are celebrated personalities. We also value and appreciate the actions of people like Richard Branson or Oprah Winfrey. So, if being rich is so awesome, why aren't more people wealthy? Consider the numbers. There are about 128 million households … [Read more...] about Eight Reasons Why Its Hard To Get Rich

Wealth Building After The Basics

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Everyone's personal financial situation is different. Some people are still getting organized, others are in better shape. So, for many the question is: after you've got the basics nailed down, where do you go after that? For example, after you've paid off your high interest debts, have an emergency fund and are sticking to a budget, whats the next step? Well, there … [Read more...] about Wealth Building After The Basics

Streams of Income Of The Wealthy

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This posting is for readers who want some solid data on which streams of income the wealthy actually have.  This is a non-trivial question because if you're building wealth, you'll want to see what's been done successfully in the past.  And, most articles on this topic rely less on fact and more on speculation and anecdotes. So, what streams of income do the wealthy actually … [Read more...] about Streams of Income Of The Wealthy

James’ 2021 March Wealth Update

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So, it's mid-March, which means it's time for a monthly update. This month hasn't been too sexy, mostly I focused on consistent debt and cost reduction. Here is the breakdown of what I've been up to. Canceled Services & Reduced Bills This month I spent some quality time on the phone with Comcast/Xfinity. I got autopay set up for a total savings of $10 per month, or $120 … [Read more...] about James’ 2021 March Wealth Update

Don’t Forget The Basics

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Everyone is looking for a fast buck in the stock market these days, but they forget there just isn't any substitute for following good basic advice.  So here is a list of personal finance advice that works. 1) Pay Off High Interest Debt.  If you have any credit card debts, payday loans, title loans or other high interest garbage, pay it off.  Credit cards will charge you … [Read more...] about Don’t Forget The Basics

I Love Fintech, or Small Business Bonds For The Win

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A few weeks back, I took some of the holiday gift money I'd received and put it into small business bonds.  I did this via a neat, if not somewhat risky fintech I'd discovered last year. Well, it seems like the bonds are starting to get processed and issued.  I just received this in my email today:   Even though its electronic, its nice to get the actual bond … [Read more...] about I Love Fintech, or Small Business Bonds For The Win

Sign Of The Times: Massive Divergence Of Financial Assets Of Top 10% Vs. Bottom 50%

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Here is an example of a K-shaped chart for you.  This shows the long time divergence of the amount of financial assets held by the top 10% versus those held by the bottom 50% of wealth percentiles. The graph has different axes, so sit and look at it for a while.  In a nutshell, the share of financial assets held by the bottom 50% has declined from 71% in 1989 to 2.3% in … [Read more...] about Sign Of The Times: Massive Divergence Of Financial Assets Of Top 10% Vs. Bottom 50%