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Tag Archives | Building wealth

Helping the Rich get Richer and the Poor get Richer

One of the pillars of my profession of financial planning and counseling is to help people get richer. For many people, this statement might evoke the idea of “income inequality” as summed up by the phrase “the rich get richer and the poor get poorer.” This is a common money script around a topic that […]

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How the Rich Got Rich

Ask ten people how the rich got rich and you will get at least ten opinions. Some of the more common assumptions are that people become wealthy by inheriting fortunes, taking advantage of those less fortunate, or “playing” the stock market. I even remember one government employee who insisted anyone who obtained wealth had to […]

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What Investors Want to Know But Don’t Know How to Ask

When an advisor recommends a particular investment, how do you know it’s right for you? Financial writers, myself included, say you need to ask questions. The trouble is, according to a recent survey, most investors ask the wrong questions. The March 2014 survey polled 1,229 investors. They were asked, “When your advisor makes an investment […]

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Does Income Equal Wealth? Not Necessarily

“How much money do you make?” We don’t ask people that question, but we’d love to know the answer. In this country, we’re fixated on a person’s annual income. That’s the primary measure we use to determine social status and define success. Income also is the qualifier for government welfare programs. It defines people as […]

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The Millionaire Mindset, Part Two

Last week we looked at the first three components of a millionaire mindset: how to spend like a millionaire by living frugally, budget like a millionaire by putting essentials and savings first, and work like a millionaire by loving what you do and investing in your career. All three of these are vital habits for […]

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