All posts by admin

Lack of financial knowledge

        I’m going to let you in on a little secret, many people don’t know a lot about budgeting, saving, credit and investing. Are you surprised? Probably not if you’ve had any recent conversations about money with your peers.   According to the NFCC Annual Financial Literacy Survey, sixty-one percent of U.S. adults admit to not having a budget and forty-one percent gave themselves low or failing grades based on their knowledge of personal finance.   My first thought after reading a statistic like this is; if money issues are causing people this much trouble shouldn’t financial … Read More >

Retirement saving plans are an interesting concept.  On the one hand, they give you a reason to invest money for your retirement, since contributing to your retirement ensures that you do not get taxed on that income right now.   

If you haven’t noticed already, things are very different from how it used to be in the past.  Many people nostalgically say: “The past is long gone”.  Some also say “The past will never come back”.  I tend to agree with them.  Even though I am only 30 years old, I can relate to older, simpler times, when people were less busy, when the cost of living was low and when people used to live in closely-knit communities. Nowadays things seem to be different.  People, especially those in developed countries, always seem busy; they are always running around. The cost … Read More >

“Study hard in school, get a good job, work hard at that job so you can retire comfortably”. Does this advice ring a bell? I am pretty sure it does.  This is because we have, in one form or another, heard our parents or relatives mention this to us, in an all-too-helpful manner.  Now, before I get flamed for criticizing this time-tested advice for success, I would like to point something out.  I am not against education or going to school at all.  In fact, I have a Bachelors of Financial (Hons) from York University and an MBA in Finance … Read More >

Ah, credit cards.  A source of convenience for some, a nightmare for many.  If I was given $1 every time anyone at an online personal finance forum exclaimed: “Guys, credit cards are evil! Credit card companies are ripping us off. We should all get together and have a credit card bonfire!”, I would have a lot more money than I have today.  No matter how we feel about credit cards, the ultimate truth is that they are just a tool. They just magnify our behaviors and patterns. They just show us who we really are down to our very core. In … Read More >

Our schools (and most parents) have programmed us from the very beginning to work for someone else. If you look at the education schools impart, you will see a pattern emerge: Get good grades so you could get a good job with a renowned corporation.  Sometimes I feel that schools teach students about everything under the sun except for two areas, which in my opinion are not only necessary but required to keep the economy flourishing: Money and finances – so people can stay away from bad debt & reach financial independence soon Entrepreneurship – so more jobs can be … Read More >

Does Money Alone Make You Rich?

by admin on November 6, 2015

Breaking Bad - Money makes me rich

  The masses seem to believe that the definition of “being rich” is “having a lot of money”. They also think that someone driving a luxury car such as a BMW, Aston Martin or a Jaguar is rich & killing it. The guy wearing that $6,000 Rolex watch would obviously be a millionaire, now would he not? The answer, in most cases, is a resounding no. The truth is that luxury cars such as the ones mentioned above are driven mostly by non-millionaires who might actually be living paycheck to paycheck. The guy wearing the fancy watch probably would have … Read More >

What Exactly Is Financial IQ?

by admin on November 6, 2015

Ah, the million dollar question: “What exactly is financial IQ?” The sad truth is that if you happen to be asking this question, just by asking it, you have put yourself ahead of at least 90% of the world’s population (so congrats!).  This is because most people are only concerned about earning money through their labor and then quickly spending that hard-earned cash on products or services which actively make them poorer. Anyway, I believe Financial IQ is more of a process than a goal.  It is something only the affluent seem to care about.  Simply put, financial IQ is all … Read More >

  Since this blog is committed to helping you increase your financial IQ so you can quickly amass great wealth, I wanted to provide you with a real case study which will give you an insight on how real estate really works. And mind you, these aren’t some fantasy numbers that I will share with you, this is the real deal (no pun intended). Before I go on, I want to say that my favorite asset class for building and holding my wealth is real estate – bar none. Let’s get right into it. In January 2014, I had some … Read More >

Here’s an open secret: Most people who are fairly wealthy have created their wealth by investing in real estate over the years. If real estate hasn’t been used to create wealth for them, it has definitely been used as a place to store their wealth. Now I understand that is an over-simplification & not always the case, but for the most part, this simple technique has definitely withstood the test of time. Even established financial blogs such as Financial Samurai has written an extremely detailed post on the benefits of real estate & how to use them to benefit you. However, … Read More >