What if you didn’t need more money to live the life you want? What if you could live on less, spend less time on your business, and still be happy?
This is the founding principle behind “lifestyle design”–a term that has become popular since Tim Ferriss released his book Four Hour Work Week. The idea behind a “lifestyle business” is to grow a business that sustains your daily lifestyle while allowing you the time freedom you need to pursue what interests you.
Here’s what my optimal “lifestyle design plan” looks like: (more…)
Review: Ramit Sethi’s I Will Teach You To Be Rich Boot Camp. Have you ever felt like your money was in control of you, instead of the other way around? Do you desperately wish your life wasn’t controlled by credit card payments and bills–and you just need a little help to get turned around?
I’m excited to help my friend Ramit Sethi in his quest to help you take back control of your financial future.
This video explains everything, but the story is also below for you…
In 2007, I nearly bankrupted my business because I didn’t keep track of my finances. I didn’t hire an accountant or financial planner because I “couldn’t afford it”. Little did I know that my business had far more money going out than coming in.
I always thought the numbers would work themselves out. I was smart; I read a ton of business books every month, and my business was growing like gangbusters. What was there to worry about?
It took our landlord locking us out of the building and me having to lay off most of my 6-person staff for me to hit bottom and realize what a terrible mistake I had made. (more…)
I’m incredibly angry about what has happened in our country in the past several years. At the height of the housing bubble, we had trained economists telling us that houses would never drop in value, and in 2004, with interest rates at near-historic lows, our Federal Reserve chairman, Alan Greenspan, told us that we would probably be better off with adjustable-rate mortgages. Those same mortgages were the ones that blew up in many folks’ faces a few years later, when the “adjustable” rates adjusted to 10% or more.
I think you have every right to be mad as well. (more…)
Some shocking statistics recently caught my eye. The median IRA balance is just $55,000, and the median 401(k) balance is just $15,000. Baby boomers are working longer, since most do not have enough saved to retire comfortably. And, given the statistics, it’s likely you are in the same boat.
Why is it that so few of us save enough for retirement? Why are we so woefully underprepared? (more…)
The fear is palpable. I read it in your emails and I see it in your Twitters. The stock market has plunged (as I write this, two days in a row) and your retirement money is getting sucked dry. If you own a house, it’s probably worth less than it was a few years ago. Finally, your debt payments are taking up a large amount of your monthly income. It’s enough to make your head spin!
Given that nearly every class of investment seems to be going down, what is the best way to invest your money (for the long and short term) to buck the trend? In this post, I break down how to invest your money during this downturn, based on how long your investment horizon is. (more…)