The media likes to paint a certain picture of what it means to be rich — huge mansions, expensive cars and exclusive country clubs. But what’s behind those obvious displays of wealth, isn’t very sexy at all. And with wealth building, there’s a tendency for some to ignore the unsexy. But people who do ignore wealth […]
Walter Schloss was one of the greatest investors of the 20th century. Schloss averaged a 15.3% compound return over the course of four and a half decades, versus 10% for the S&P 500. Between 1956 and 1984, his partnership’s annual compounded rate was an astounding 21.3%. A $1,000 investment made with Schloss in 1955 would […]
Warren Buffett is known for paring-down his investment ideas into simple, memorable sound bites. While these homespun sayings help us by reducing complicated concepts into a digestible format, they can lead some new investors to scratching their heads. Especially when it appears that those sayings seem to contradict the legendary investor himself! Here’s an example… […]
There’s a scene in Kubrick’s Full Metal Jacket when a General asks Private Joker why he has a peace pin on his fatigues and also a contradictory ‘Born to Kill’ inscription on his helmet. “I guess it represents the duality of man”, responds Joker, befuddling the General. The idea of duality is a good one, […]
When it comes to success, sometimes quitting is for winners. I’m willing to bet there are a number of poor money habits and bad philosophies that held you back in the past year. What if you resolved to give them up once and for all? No counting calories or cutting out cookies required, just quitting […]
It’s tough out there for many. Although America’s economy has rebounded mightily from the depths of the largest recession in a generation, there are still many that are not participating in the good times. Many are struggling, hurting even. And I’m not talking about the poor. Nope. I’m referring to the group formerly known as […]
The recently enacted tax reform bill lowered tax rates for just about every tax bracket. Time to break-out the champagne and celebrate? Hardly. While the idea of more income going into individuals’ bottom line sounds great on the surface, for most people that additional income won’t do anything to increase their net worth. If not […]
Whenever I meet someone for the first time, the inevitable question comes up…what do you do? To which I reply, “I’m retired. I retired early and now I author a blog about achieving financial freedom.” The replies I get back are usually something along the lines of – “Wow, that’s awesome! Tell me how you […]
I often wonder how people can be happy or at peace when themselves when they don’t make a commitment to financial success. How can a person reconcile wanting to be financially successful without giving their full effort to it? I had a friend once that struggled with money. Let’s call him “Henry”. Henry came to […]
There’s a particularly riveting scene in the movie 12 Years A Slave that so dramatically showcases the two differing approaches people have to life. In my experience, people generally fall into one or the other way of thinking about life that is depicted in the scene. If you haven’t seen the movie, it is based […]
