Everyone waited solemnly as the law firm representatives slowly opened the safety deposit box. Nobody expected it to contain much. After all, he was just a part-time janitor for most of his working career. And according to Salary.com, the average salary for a janitor is $26,000. A honest pay for honest work for sure, but […]
Northcote Parkinson termed the phrase Parkinson’s Law in the 1950’s. The law states that “as the supply of a resource increases, so does the demand for that resource”. Here are some common examples: Your computer’s data will expand to fill exactly the amount of storage it has available. The amount of time you have to […]
If you study Warren Buffett’s style of investing for any amount of time, you will inevitably come across his two rules of investing: #1. Never lose money and #2. Never forget rule #1. I remember my initial thoughts on reading these rules for the first time – I thought, this can’t be right. My studies of […]
Warren Buffett recently released his 2014 letter to shareholders of Berkshire Hathaway. For the first time, he included the historical stock price in his annual letter, which has increased by, hold your breath, 1,826,163% in the last 50 years! The 2014 letter is special not just because it marked the completion of 50 years of Buffett […]
Welcome to the first question and answer session on the blog! We provide subscribers a link whereby they can send in their most pressing questions and see them answered right here on the blog. This will be a regular blog feature going forward and hopefully the information below helps answer a question you’ve always wanted […]
Life balance is one of those concepts I love to hate. Here’s why: I don’t know of a single successful person who feels like they’ve mastered that equation. Yet the myth of the perfectly balanced life haunts many. I also think it’s a false way to describe what the real problem is, because life is […]
Why is it that most people don’t become wealthy? With all the opportunities that are available, why is it that so few people retire financially independent… and yet some do find the way? In this newest infographic, here are what I consider to be the five most critical reasons why most people are not rich. […]
The 2014 Consumer Financial Literacy Survey from the National Foundation for Credit Counseling shows once again that financial literacy needs to improve in America. But the problem isn’t necessarily a lack of knowledge. Rather, there is a ‘knowing-doing’ gap in financial literacy. In other words, knowing what to do — and doing what should be done […]
A well-worn one hundred dollar bill and a similarly distressed twenty dollar bill were told that they would be sent to the Federal Reserve to be retired. As they traveled in the armored car towards the Reserve, they struck up a conversation. The twenty dollar bill reminisced about its travels all over the county. “I’ve […]
The secret to making resolutions that actually work is also the secret to achieving freedom of any kind, especially financial freedom. So let me explain how freedom is achieved. Freedom begins with a profound disgust with the current state of affairs. Face it, you wouldn’t be reading this if you weren’t dissatisfied with something in […]
