Category Archives: Philosophy

Why the Rich Get Richer

 

 

Ever wonder why the rich keep getting richer. It’s not just because of the money they save, it’s also how they spend their money. Most people spending their money on liabilities like cars, electronics and oversized homes which not only cost money upfront, but require monthly spending to keep them maintained.

The rich also buy liabilities, but the they funnel some of their resources into income producing assets which generate more money for them. They put their dollars to work. Then they take some of that extra money and buy more assets. And on, and on…

How do you balance making more money and happiness? How are your dollars working for you?

4 Money Mindsets That Keep You Broke

 

We got sidetracked making our 5 Dumbest Money Mistakes video and realized all financial mistakes are part of a larger issue. So we changed gears and started thinking about how our money “mindset” can either make us wealthy or broke.

The four money mindsets that will keep you broke are:

1. How much per month? vs How much?
2. Gambling your future.
3. Blaming someone else.
4. Ignoring that you have a problem.

Let us know if you can think of any others, or if you struggle with any of these!

Do You Have What It Takes to Retire Early?

After years of reading and studying people who have retired extremely early, I’ve discovered there are two common threads that seem to connect them all.

The first is the ability to think differently. Not just want something different, but honestly believe that there is an alternative out there and they are going to find it.

The second trait that holds up the first the the ability to not care what people think. I mean this in a good way, not a bad way. When you live life outside of the box, some people are going to react negatively to your choices.

If you drive an older car, people are going to assume you cant afford anything nicer. Early retirees have the self confidence to ignore backhanded insults like “you can’t take it with you when you die.”

In the video we talk about some of our own struggles with “looking poor” and how we’ve overcome them.