I need more time.
Wow, how many times do you say that a day, each week, every year? What would you do if you had more time in every day?
People love Part I of Finding Your Happiness Quotient. But, their response is always this: I don’t have time. Therefore, I [...]
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What makes you happy?
Simple question, isn’t it? But do you know what makes you happy every single day? The little things and the big things?
The Happiness Quotient was born one day when I was sitting on my sofa amongst the packing boxes in a newly rented one bedroom apartment, down from [...]
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Organize your life around what makes you happy.
This may seem like a terribly bold statement in this world of instantaneous communication, work demands, and continuous soccer practice, but it is really the point of life.
If you are happy, you are much more valuable to the people around you. When you are passionate about the [...]
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This is the third article in a series about how to earn to invest. The second article is Keep More of What You Earn.
You keep more of your next million by doing these three things:
Holding your cost of living steady.
Capturing good fortune as productive assets.
Reinvesting the passive income (Options 2).
Alternatively, you could spend [...]
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When you earn to invest, you replace your habit of earning to acquire stuff with earning to invest in your own financial independence. You dump leaky bucket thinking and focus on gathering many healthy, self-sustaining and growing sources of income in addition to your job.
The word sustainable is very popular right now.You see it [...]
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This is a continuation of a series of exercises designed to help you and your family better understand your attitudes about money.
Part I: Get In Touch With Your Money Mindset (Fear v. Ambivalence v. Opportunity)
Part II: List Common Phrases Use You About Money (Scarcity v. Abundance)
Part III: Inventory Your Financial Influencers
→ [...]
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Click here to see Part I: Find Your Money Mindset…Fear v. Opportunity.
→ Exercise: Scarcity v. Abundance
A key indicator of your money mindset is to listen to the little throw away phrases that you might say to a child or a friend in passing.
Here are a few examples.
A penny saved is a penny [...]
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Get out of your own way.
Really.
Your current finances are a result of your money mindset, your personal relationship with money.
Your money mindset is a combination of your earliest education in money management, your successes and failures, and your phobias. While some of the circumstances were pure chance, you made all of the decisions that [...]
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This exercise will help you to estimate the productive asset base that would completely replace your current job.
Directions:
Fill in your current income from your job.
Divide your current income by 5% (0.05) and 10% (0.10) respectively. These are possible rates of return that you might seek.
Write in the resulting “Productive Asset Base” in the boxes [...]
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The only way to become independent of your job is to build your productive assets until they generate enough cash flow to cover your lifestyle expenses.
Productive assets are interests in business, real estate and intellectual property. They produce cash flow now, appreciation later, or both.
Productive assets deepen your reserves in a financial emergency. [...]
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Dana Kunz