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Tag: Building wealth

Building Wealth With Real Estate: A Look Back

There’s nothing like cleaning out your attic or a storage unit to offer a chance to reflect on your life. I’m currently “enjoying” this opportunity as I dig through boxes holding decades of accumulation. It takes a lot longer if you stop and ponder on the contents of...

Middle-Class Millionaires Are Far From Billionaires

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 is “Rich?” Income Vs. Net Worth

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...

The Millionaire Mindset, Part Two

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...

The Millionaire Mindset, Part One

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...