Here’s why you shouldn’t keep up with the Joneses (PICS)

I don’t have a subscription to the Wall Street Journal, so I couldn’t read this article. However, it’s safe to assume that Mr. Greene regrets building his MegaMansion. I don’t have any statistical proof on this…. but I would estimate that 90% of the people who buy very large homes end up regretting their purchases…

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The 7 Income Streams of Millionaires

According to the IRS, most millionaires have these seven income streams: 1. Dividend income from stocks owned. 2. Earned income from a paychecks. 3. Rents from rental real estate. 4. Royalties from selling rights to use something they’ve written or invented. 5. Capital gains from selling appreciated assets. 6. Profits from businesses they own. 7.…

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Millionaire Vs. Cashflownaire

As I’ve previously written, many of us have a goal to become millionaires. Some people set high net worth goals so they can buy beautiful homes and travel the world. Others set high net worth goals in order to have freedom. Time freedom, that is. Freedom to use our time as we want without being…

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Cashflownaire

I made up a new word: CASHFLOWNAIRE! Cashflownaire: A person who has the positive cashflow of a million (or multi-million) dollar net worth. As you probably know from previous posts, my financial strategy changed dramatically with the big 2008 market crash. My focus today is on monthly cashflow instead of wealth (net worth). I don’t…

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Words of Wisdom from a Multi-Millionaire

Recently I’ve been asking other business owners and friends a very specific question. The question is: Can money buy happiness? Every person over 30 years old has realized money doesn’t buy happiness. When they started their businesses, they had dreamt of massive wealth, beautiful homes, high-end cars and lots of toys. As they grew older,…

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