wealth
In today’s world of economic uncertainty, managing your finances can seem like a daunting task. Shifts in the market and inflation are making it harder to make ends meet for millions of people. Heck, even buying eggs has become financially complicated this year. Being in charge of a business during this time takes a team of people to be successful. Over the course of every entrepreneur’s lifetime, they hire the following: an accountant, an attorney, insurance agents (both personal and business), a banker, an investment adviser, etc. The list goes on. What’s more, finding the right people that ...
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Inflation is a global issue at the moment, and every country is dealing with the fallout from financial pressure with different levels of success. Individuals concerned with wealth generation are also scrambling to react to the circumstances. One way to stay a step ahead of inflation is by effectively building wealth. This can ameliorate monetary shortcomings in the short term. It can also position an individual’s investment portfolio for accelerated growth when inflationary pressures ease in the future. Here are a few tips to help create a wealth-generation strategy in an inflationary environ...
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Recessions are part of the business cycle. However, this doesn’t mean they must be painful or destructive to our finances. Many industries hold their own and even thrive during economic downturns. The secret is finding these recession-proof industries. It’s unfortunate, but there’s simply no way around recessions. We all have to go through them. Read on as we look at some of the best choices to safeguard and grow your money during recessions, from everyday purchases to real estate. How To Invest With a Recession On The HorizonWhen you think about it, a recession is always approaching, even in ...
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What would consider the most esteemed job in the world? For many, this would be holding the office of President of the United States of America. Although the job has prestige, it doesn’t pay as much as you would assume. While in office,the U.S. president receives an annual salary of $400,000. They also have an expense account of $50,000. While not too shabby, that’s not as well as the very rich earn. Nonetheless, the U.S. president is/was doing pretty well financially. I mean Abraham Lincoln is estimated to have had a net worth of $1.36 million in today’s money. And, that’s considered one of t...
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I’m not going to mince words about this. When it comes to finances, a lot of people are struggling. According to a survey by NPR, the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health, nearly 40% of US households experienced serious financial difficulties in 2021, including the inability to afford medical care and food. Obviously, COVID-19 played a role in this. However, prior to the pandemic in 2019, a whopping 70% of Americans reported that they were struggling financially. While numerous external factors have contributed to our financial troubles, one componen...
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When you hear the word wealth, what is the first thing that comes to mind? Mansions? Designer clothing? Luxury cars? Dining out at exclusive restaurants? Growing up, I probably would have had the same answers. After all, I grew up in a house that cost just $8,000. Yes. An eight followed by three zeroes. Also, my parents filed for bankruptcy twice. However, throughout my financial career, my definition of wealth isn’t about material items. It’s all about net wealth. Why? Because look can be deceiving. Here’s an example from a couple who were potential clients of mine. They made $500,000 a year....
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At first glance, non-fungible tokens (NFTs) might seem like a strange fad where young and overly-wealthy individuals throw money into a digital fire, never to be seen again. The concept began in 2014, but it has only gained traction since 2021. In that short amount of time, wealth opportunities with NFTs have gone from being a laughable gimmick to a genuine source of value. And it’s not just eccentric free spirits and ignorant teenagers who are getting involved. Respected art collectors and celebrities alike invest millions of dollars into NFT assets. In addition, artists and content creators ...
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