Building true wealth takes a lot more than simply amassing a certain amount of money. There are ten key wealth building principles that lead to true wealth, not just monetary wealth. The objective is not just to become rich, but to build a balanced, fulfilling, wealthy life. Following these ten success principles will put you on the path to true wealth — because life is too short to settle for anything less…
Are Safe Withdrawal Rates Really Safe?
Retirement income planning is inherently problematic because you’re trying to convert a volatile pool of assets into a stable, reliable income stream that you’ll never outlive. How do you do that? In this article I deep-dive into the history of safe withdrawal rate research and the resulting 4% Rule – warts, blemishes, and all. I reveal what is true and false about conventional wisdom. This knowledge is inextricably intertwined with proper investment strategy making it essential to your financial security…
7 Key Reasons Why Financial Education Is Your Best Investment
Amazingly, the single biggest skill that can make or break your financial success is not taught in school. You can graduate with a four year degree and learn nothing about personal finance or investing. Financial education is one of the great bargains in life: it costs little, risks nothing, and returns huge rewards. It is the best investment you can make. Discover how here…
10 Commandments of Investment Strategy
Nothing is more financially dangerous than a million dollar investment portfolio managed with a thousand dollars worth of financial intelligence. The truth is your investment skills and knowledge will be reflected in your investment results. Use these 10 critical commandments to improve your investment performance so that you can enjoy greater investment confidence and financial security as a result…
Andrew Carnegie “The Gospel Of Wealth”
Andrew Carnegie was a poor immigrant during the 1800s who became one of the wealthiest men in the America. He built a vast steel conglomerate and became a philanthropist giving away more than $350 million during his lifetime. Carnegie was also one of the first public figures to assert that building wealth included the responsibility to use it wisely for the benefit of others. Discover his timeless wisdom and put it to work in your own wealth building plans today…
The Little-Known Factor That Determines Your Wealth
The secret to building wealth is there are no secrets. Earn more than you spend and invest the difference wisely. The problem isn’t knowing what to do: the problem is getting it done. I’ve been coaching people for more than a decade and have reduced the “getting it done” part down to 8 clear, actionable steps as follows…
Retirement Savings Statistics Are Ugly
I’m always amazed when I see the retirement savings statistics. It’s a scary picture. A recent newsletter from professor Robert Shiller (Yale University and “Irrational Exuberance” infamy) provided some amazing stats showing a fast approaching disaster in retirement planning and what you must do to not be part of the problem…
Ten Percent Rule To Build Wealth
It takes 80%-90% of your life energy just to break even – maintain status quo. The last 10%-20% is where you build wealth. That is why so few people succeed financially: they stop moving forward after getting 80%-90% of the way there. I was reminded of this lesson during my regular workout in the gym this morning when a personal trainer explained to me…
The Solution To Investment Losses
A reader commented on my blog, “Todd, my portfolio is mauled. I feel stuck and don’t know what to do. Any suggestions?” The simple answer is problems like this are avoided through a disciplined investment risk management strategy and the damage will be repaired only after improving your investment risk management skills. Every day you face a decision to buy, hold or sell. When you make no decision you effectively choose to buy your portfolio that day because it keeps the risk…
