Why the Rich Get Richer

Why the Rich Get Richer

Have you ever heard the saying “the rich get richer”? It’s the go-to cry of the American working man and woman against the inequality that seems to arise when more fortune seems to fall on the wealthy. I started thinking about that saying recently and you know what?  I think it’s true. It’s not that hard to see that the middle class is slowly being squeezed out.  Wages for middle-class Americans have been relatively stagnant while prices continue to rise. On the flip side, the wealth of the top 1% continues to grow to tremendously disproportionate levels. But why is that – is there a reason that the rich get richer? The more I thought about it, the more I

How to Pay Yourself First

How to Pay Yourself First

Pay yourself first.  I’m sure we’ve all heard it a million times.  It’s simple and to the point.  If you want to build up your wealth, you need to pay yourself first. When I was a teenager, that mantra was something my grandfather used to preach to me repeatedly.  He was truly an inspiration to me – he retired when he was in his mid-forties and lived to be in his mid-nineties.  So when he would tell me something, I would pay attention. But, I didn’t really fully get it.  Pay yourself first? I mean I understood the idea that the more money you saved, the further ahead you would be.  However, if you had bills to pay, you had bills

An Easier Way to Track Your Expenses

An Easier Way to Track Your Expenses

You’ve heard it before – be sure that you track your expenses!  But why would you want to do that?  And is there an easy way to make it happen? When most of the mainstream media in the financial space talks, they want to push you toward using your income as a gauge on how prepared you are for retirement. You’ll hear various numbers thrown around such as that you’ll need 80% of your pre-retirement income to make it through retirement. I get it.  That’s fitting for a lot of the general population.  Most folks just tend to spend everything (or more than) they make.  They’re probably not on track for retirement so the advice isn’t terrible. However, you’re likely reading this

The Power of FU Money

The Power of FU Money

FU money… the dream of many a worker around the world. If you’re not familiar with the concept, FU money (aka F-you money) is the idea that you’ve accumulated enough bankroll that you can tell your boss “f*** you” if needed. Maybe you’ve just had enough and can’t take it anymore – you just want to quit and do something else. FU money gives that power… that flexibility. Perhaps you’re ready for a career change.  On the other hand, maybe you want to take a mini-retirement – a break of sorts. FU money can help. Now don’t get me wrong, FU money is not necessarily financial independence.  It can be, but it doesn’t need to be. You might not have

What to Do with Your Money Right Now

What to Do with Your Money Right Now

We’re in an interesting cycle of the economy right now.  Things are looking good, which helps boost the value of your money.  When it comes to investments, stock prices and property values are generally up. And if you’re selling, that’s a good thing.  Retirees and folks selling their houses or some of their stock investments are partying it up during these times. However, if you’re still in the wealth-building phase of your life, this isn’t as exciting.  Sure, it makes your portfolio look good, but if you don’t need the money right now, it’s taking its toll on your buying power. Using your money to buy new shares in the stock market is expensive right now.  Expensive is a subjective word,

The 10 Commandments for Kids and Money

The 10 Commandments for Kids and Money

When it comes to kids and money, we all want to ensure that they’ve got the greatest chance to succeed in life. We can push our kids to be smart and learn in school.  We can teach them to be good to other kids and to share. We can help them to understand that they should respect others.  We can show them good manners and how to be polite. But what about the money side of the formula?  Isn’t that important? I spend a lot of my time staring at Quicken and Personal Capital trying to plan for financial independence and early retirement. I feel very blessed that we’re in a solid position to make this happen. However, another part