Building Wealth

They suggest that by the age of 30 we should… Scale back on credit cards - Living the “excess” lifestyle should change as we mature. Own a home or have a plan to - Investing in your home is still a good idea - especially now. Have career skills developed - Have a marketable skill in case of job changes.

This is my review of Thomas Anderson’s “Becoming a Millionaire God’s Way”. I just finished reading Thomas Anderson’s “Becoming a Millionaire God’s Way”. I don’t actually remember how or where I heard about it, but somehow it found it’s way into my hands. Anyway, if you have been around ChristianPF much you know that I don’t subscribe to the theory that poor Christian’s are holier than wealthy ones.

So, if you want to learn how to build a chair, you should go ask a chair-maker how he does it. If you want to learn how to become a millionaire, you should ask a millionaire how they did it.

In the recent issue of SmartMoney Magazine they have an interesting article titled, “10 things millionaires won’t tell you.” I actually disagree with some of the points, but lets get on to the list… These are the 10 things that SmartMoney says millionaires won’t tell you… 1.You may think I am rich, but I don’t…

Getting out of debt part 4…Getting out of debt, creating wealth, living financially free, retiring with cash in hand can all be achieved by following one simple rule: Spend less money than you make.

Sometimes when someone gives you a piece of advice, it just resonates and almost creates an imprint in your mind. I know I have gotten some advice that even though I didn’t want to hear or believe, I just couldn’t shake it because deep down I knew it was true.

The recent issue of Money has a great article with over 30 well known people contributing their best pieces of advice they’ve received. I really agree with a whole bunch that were listed. And these are my favorites….

Are you looking for help getting out of debt? …Over the last 2 years while working to get out of debt, we have paid off nearly $30,000 in consumer debts from some mistakes that we made in the past.

Seth Godin, one of the premier marketing gurus of our time, recently wrote a post for “college grads or just about anyone.” I have read a few of Seth’s books, including a personal finance book he wrote, and have always had a lot of respect for him. He is a great marketer, but more importantly he really seems to be a honest guy trying to do the right thing. He has taken the long-term approach to doing things and it seems to have paid off for him.

My student loans were locked in at about 3%, but I don’t think rates that good are available today. I assume a 10% return on my retirement savings, so even if you are paying 5% on your student loans and earning 10% (or even 6%) you still come out ahead. Mathematically, this seems to be the much stronger answer. However, Dave Ramsey’s method -based on our behaviors rather than math, would eliminate any and all debts before investing for retirement.

“Make it a habit to have more money coming in than going out. You may need to drive the clunker a bit longer or postpone that trip to Europe.” Good advice. It is the simple 3rd grade math problem that is the ONLY way to wealth. If you can start the habit now, you will be in great shape for the rest of your life. If you don’t, you will have to face the music sometime and the longer you wait the more difficult it becomes.

I think mutual fund investing is a good way to get started investing. I own two mutual funds currently and there are a few good ones out there, but most mutual fund managers still don’t beat the average market returns.

The goal of this post is to go over the basics of mutual fund investing. To start, a mutual fund is a company whose main objective is to professionally invest a pool of money in securities and earn a positive return for shareholders. By doing this, these companies allow you to share the rewards and risks of investing.

16 ways to save money by not doing what “normal” people do. A lot of money can be saved by thinking “outside the box.”

You just finished your degree and you are probably looking for your first “real” job. This is the perfect opportunity to decide how you would like your financial life to be. You have the choice to spend and buy whatever you feel like which will likely put you in heaps of debt.

What is an IRA account anyway? An Individual Retirement Account (IRA) is a retirement savings plan that allows you to contribute to it up to….

The biggest hurdle for most people is saving money. As Dave Ramsey would say, it is a behavioral problem, not a money problem. Getting in the habit of consistently saving is far more crucial to your success than getting a better rate of return (at the beginning). Let me show you why:

Here are Warren Buffet’s best quotes that I have found. Warren should be every investor’s role model. He has a lot of wisdom to share and we would be wise to learn from him.

4 steps to retirement savings

This post will walk you through the steps to leverage your emergency fund to make more money…. Everyone’s definition of an emergency is different. But, if you want it to be of some use to you, you need to have a strict definition of an emergency. Your emergency fund should put more dollars into your pocket once it has been well established. Here is how:

These are 9 Things that I learned from Warren Buffett…There are no called strikes in the ballgame of investing. You do not lose a single penny by passing on any given investment. Even if someone else hits a homerun with it, doesn’t mean that you are missing out. That said, you will have to swing the bat if you ever want to get anywhere. Just make sure it is a good pitch.