Suppose you have a net worth of one thousand dollars, while your friend has one million dollars. Would you consider yourselves to be in the same financial category? Almost certainly not. The comparison is absurd. Your friend’s one million is a thousand times...
How much money does it take to be wealthy? As I’ve pointed out in previous columns, this is basically an unanswerable question. It depends on too many variables, such as social norms, personal circumstances, accounting methods, lifestyle, and financial...
Last week we looked at financial planning for 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 a savings account first, and work like a millionaire by loving...
If you’re a new graduate, taking your first steps into the adult world, here is the most important financial planning advice I can offer: Develop a millionaire mindset. This absolutely does not mean making ultra high wealth your life goal. But thinking like a...
Watch this video on YouTube 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...
