Ten bad financial decisions to avoid in your Twenties

Your 20s can be a financially challenging time, you’re in university trying to pay for it and then you graduate and are still trying to pay for it and on top of all that you’re trying to decide what to do with your life. So it’s no wonder why most 20-somethings make some pretty awful READ MORE

As a wealthy person, what are your tips for financial independence?

Retirement. Whoever thought that was a good idea? Resign, revise, retool, redesign. Honestly, you’ll probably hit your stride after several years of experience. I did. Why give up the earnings? And with income you’ll hit financial independence sooner. Contentment. Reduce how much money you need to be happy and you reduce how much you need READ MORE

What are the ten most important things about personal finance that someone without a finance background must know?

1. Salary is not the same as savings. Your net worth is more important than how much money you make. It’s amazing how many people don’t realize this simple truth. Having a high salary does not automatically make you rich; having a low salary does not automatically make you poor. All that matters is how much READ MORE

How often can you make a profit when putting a minimum down payment on a house then renting it out for the mortgage plus some?

You can buy a rental home with a 20% down payment, but the mortgage rate is significantly better with a 25% down payment; the difference between the two scenarios is about .25% in rate. When you buy a rental property, your required monthly payment will be the loan payment plus taxes and insurance, but a READ MORE

What are some great life hacks to help you increase your income?

“Rich people have small TVs and big libraries, and poor people have small libraries and big TVs.” – Zig Ziglar Most people will wait and wish for the magical moment to happen where their circumstances change and they become millionaires. Fortunately there are enough millionaires and billionaires out there now for us to know that they READ MORE

At what point is a small business worth purchasing?

It’s worth it whenever you can acquire the business at a fair price without buying yourself a job. Three things are worth paying for: assets, brands, cashflow. In 95% of cases, the seller will have an inflated view of their offerings on those fronts. While I won’t get into negotiation tactics here, what matters is that READ MORE

Why can’t the average person (or millennial) afford to buy a home like back in the day?

The biggest factor? US housing prices are rising twice as fast as wages Yep, the United States housing prices are rising far faster than wages…meaning, that if you rely on a wage-based income, home prices are fast becoming out of your reach. But this is a pattern we’ve been seeing for quite some time… Lets just READ MORE