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 bene 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.
These people are usually in their mid 40s and have decent jobs. Now, there is some truth in these statements but the problem is that the person saying this hasn’t looked at the bigger picture. Since the central bank of most countries keep on printing more money, and since that newly printed money is an IOU (i.e. a loan), the issuance of this new money incurs interest. This is because all money these days isn’t money, it is debt. Guess who pays the interest on this newly Read More
I have met many who say “I am proud of the fact that my house & car have been fully paid off, I have even paid off all of my student loans. Now I am financially stable!”
Statistics show that only 3-4% of households are categorized as affluent since they either have a net worth of over $1 million or the major bread winner of the family earns over $250,000 per year. I personally take such studies with a grain of salt simp Read More
<a href="http://www.wealthkept.com/wp-content/uploads/2015/11/So-You-Think-You-Are-Rich-Are-You-Ready-To-Face-The-Truth-1-1.jpg"><img class=" wp-image-540 aligncenter" src="http://www.wealthkept.com/wp-content/uploads/2015/11/So-You-Think-You-Are-Rich-Are-You-Ready-To-Face-The-Truth-1-1.jpg" alt="So You Think You Are Rich Are You Ready To Face The Truth" width="439" height="439" /></a>
Good, because that means you are paying attention. The sad truth is, most people have no clue how the economy works. Zilch, nada, zero. And when I use the word economy, I am referring to the system used in most countries around the world which facilitates you (or robs you) in the process of earning, spending and taxing. In 1971, The United States came off of the gold standard which means that the value of the US dollar was not derived by gold anymore. Since the US dollar was no longer "pegged" to gold; its value was by design, allowed to change over time. After 1971, the government could print as many dollar Read More
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