In my last article I shared that we are all playing two financial games. For review, the two games as I see them are: Game #1 – Cash Now: The game of active income and of survival. Success is earning more than you spend. Game #2 – Cash Flow: The game of passive income and [Continue Reading]
Game #1: How to Win
The Two Financial Games You Play
(and How to Win)
Almost every time I teach a class about real estate investing, I remind everyone of a really important reality before we start talking about houses and financing. The message is this: We are trying to win two different financial games. Just like basketball and baseball, these two financial games have very different rules, “equipment,” required [Continue Reading]
My 2014 Success Plan – 7 Questions and Answers
I recently spoke at the Metrolina Real Estate Investor Association in Charlotte about goal setting. The core message of my talk was this: “Goals aren’t helpful unless they are transformed into actionable plans.” For me, the best plans are broken all the way down into tiny, mundane, day-to-day steps that you can actually do. This [Continue Reading]
22 years to $1.6 Million in Your IRA –
A Conservative Path
In a recent article, I wrote about the Power of Compounding Tax Free in your self-directed IRA account. I showed how savings can grow much faster inside vs outside your IRA (see graph below). But even if you like the idea of tax free IRA investing in real estate, you might wonder how it works [Continue Reading]
The Power of Compounding (Tax Free)
Albert Einstein supposedly said “compounding interest is the most powerful force in the universe.” It is doubtful Einstein really said that (Snopes and Quote Investigator), but it doesn’t take away from the importance of the message. Compounding is a VERY powerful force that either works against you (borrowing) or for you (investing). In our world [Continue Reading]
A Secret Business Lesson From Ebenezer Scrooge
In the spirit of the Christmas season I want to share a little known business lesson from Ebenezer Scrooge, the famous character from Charles Dickens’ A Christmas Carol. Scrooge is, as Dickens describes him, “… a squeezing, wrenching, grasping, scraping, clutching, covetous old sinner!” In short he’s become our epitome of cold, selfish, and greedy. [Continue Reading]
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