When you allow debt to become unmanageable, you are essentially robbing your future self of money. And that is assuming you will be able to pay it back since unmanageable debt usually comes with higher interest rates and penalties. Many Americans only know how to generate income by generating debt. Over 40% of Americans could not pay for a $400
Unlike a 401(k), you or your financial advisor is responsible for closely minding your IRA. A 401(k) is offered by an employer and you will have help from many sources to help manage it. You have to open an IRA at a bank or similar financial institution. And one way you can make the process of managing an IRA easier
Everyone wants to be a millionaire without truly appreciating what it takes to become one. More than "want," you need discipline, knowledge, hard work, and strategy to reach this status. Over 67 percent of millionaires are self-made successes and about 11 percent inherited their wealth. If you are wondering how many hours do millionaires work, it may be more
The United States has a long history of immigration tied to its founding and commercial expansion. The Pilgrims were immigrants. Contrary to popular belief, the founding fathers of this country showed fealty to England for a long time because they considered themselves products of English immigration. George Washington considered himself English and even fought as a commissioned English officer
Most people just want to be rich. It takes more than want. You must be a prodigious accumulator of wealth as opposed to being an under accumulator of wealth. There is even a formula that can help you assess your progress in accumulating wealth. It is a formula for wealth acquisition that was first developed in a book called The
How much money you have does not matter as much as what you do with it strategically and financially. The point is that context is everything. For example, if you had a million dollars, the general wisdom is to never touch the principal and just live off the interest. Is it that simple? How much interest will I earn on
