Living for today - Planning for Tomorrow
JLP over at Allthingfinancial has a great post that tells you how to calculate your net worth based on a formula from “The Millionaire Next Door”. When I read this book, I ran the calculation (years ago), but had since forgotten it. Low and behold, I saw JLP’s post and ran the numbers now. I’m officially wealthy! That really makes me feel like things are
A couple years ago, I was sitting in my office paying my bills when a thought occurred to me. I confess, lots of thoughts come to me all the time, which is why I probably tend to ramble a bit. Most of these thoughts could have also come to a monkey at the zoo, but every now and then, one really stays with me. It
If you haven’t been to http://www.fatwallet.com, I highly recommend it. I think that, as a substitute for throwing away my money on cars, I have turned to electronics as a decent substitute. You can spend pretty significantly on electronics and still not lose the kind of money that you can on a new car (think depreciation). Now, I don’t spend a ton of money on
Well, according to this article, we have a record number of millionaires out there. That’s great news, unless you aren’t one of them. I’m on my way, but I haven’t made it yet, and the road looks long and bumpy. Highlights: There are 7.5 million millionaires in the country now A 21% increase in millionaires year over year There were only 6 million millionaires in
In one of my other posts, I mentioned that I like to talk to and watch people that are doing better than I am financially. I have a couple really good role models that are doing VERY well. (I’m not sure they know they are role models for me. I guess I should probably tell them. I bet they will be flattered that someone thinks
There are so many choices in life that it sometimes seems overwhelming. Even if you want to make all the right decisions, inevitably you make a few mistakes. I’m probably a poster child for having good intentions, but failing to make the best decisions. I think that many of the traits we have are learned from family and friends. If you grew up in a
I mentioned in another post that I wasn’t going to talk about the details around my net worth. Well, I’m not. What I have been doing is reviewing my net worth on an ongoing basis to make sure that my wife and I are headed in the right direction. Here are a few observations about our net worth: Our net worth is increasing at a
Imagine a society where everyone makes enough money every month to pay all their bills and they even have some cash left over. Gone would be the endless fights between husband and wife over which bills to pay, which child they should buy shoes for, which financial crisis to address first. Couples would have to figure out something else to fight about every evening after