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 >

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!” 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 … Read More >

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 simply because to me, the criteria of being rich is flat-out wrong. Being rich, middle class or poor isn’t as much related to the money in your bank, it is more related to your mindset. Misconceptions of The Middle Class Unfortunately a lot of middle class people think they are rich because: They have a stable … Read More >

how the economy really works

Does the title of this post offend you? 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” … Read More >