The concept of reaching financial independence where passive income fully supports your lifestyle is fairly simple in theory. Essentially you just increase your income, cut your expenses, and maximize your savings rate (see my article “Simple Math, Early Retirement“). But, as we all know and as I shared in “Destination Financial Independence,” simple concepts like losing weight, exercising, and [Continue Reading]
How Much is Enough? The Fulfillment Curve
In the beginning of our lives, more possessions did indeed mean more fulfillment. Basic needs were met. We were fed. We were warm. We were sheltered … We then went from bare necessities (food, clothing, shelter) to some amenities (toys, a wardrobe, a bicycle) … Eventually we slipped beyond amenities to outright luxuries – and [Continue Reading]
Making a Dying is Not Living
How many people have you seen who are more alive at the end of the work day than they were at the beginning? Do we come home from our ‘making a living’ activity full of more life? … Where’s all the life we supposedly made at work? For many of us, isn’t the truth of [Continue Reading]
Buy Assets, Not Liabilities
“You must know the difference between an asset and a liability, and buy assets…. Rich people acquire assets. Poor and middle class people acquire liabilities, but they think they are assets.” Robert Kiyosaki, Rich Dad, Poor Dad This is such a basic and important rule that’s missed by too many people, so let’s start with the [Continue Reading]
Introducing the Business-Money-Life Project
Thank you for learning more about the Business-Money-Life Project, which I began in January of 2015. Although it’s new, it’s been stewing in my mind for years. The BML Project is essentially my collection of the most helpful big ideas from my favorite teachers in the arenas of real estate, business, money, and life. My collection of articles [Continue Reading]
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]