By doing this, your more elaborate 60% stock/40% bond portfolio is likely to return about 6% a year—or 3% after inflation—for the next decade. And that’s with no increase in volatility. With a $500,000 portfolio, that would bring you nearly $134,000 closer to your goals in the next 10 years.
STEP 8: Use your $1 billion of new equity to borrow another $9 billion at 0.25% from the Fed. Buy another $9 billion of Treasuries. Collect another $400 million a year. Pay yourself and your team bonuses that are twice as large as last year’s. You deserve it! And you’re now about $500 million to the good.
I took the time to read the whole post too. You are so good to make sure and sum things up with the ten items at the end, thank you! I particularly enjoyed how you hit on the fact that we don’t learn wealth management or wealth building in schools. I remember struggling when I did my taxes by myself out of college (thanks dad for always doing them up to that point) but I wondered… and why did I just go through Calculus?
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If I have a blog that is getting 100,000 page views a month that means that I’m probably getting at least 50,000 people to the site (most blogs will do between 1.2 to 1.4 pages per session). That means I have to try and get some small percentage of those people to buy something from me if I really want to do well. If I can’t get them to buy something then (in some cases) I have ads running on the site that will make me money anyways.
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That’s not to say the scams are gone. In fact, you need to be more careful than ever as the fake opportunities have become more sophisticated in their marketing. Click here for 5 online job scams and learn how to spot them.
B, I must admit, I skim many articles on BP but don’t read every word, but I have to tell you my friend, I read every 9524 words in your post, very nicely done! You have a real gift brother. I throughly enjoyed it, great way to start my day and week. Only one request, make it longer next time!! Lol seriously dude great stuff. Have an awesome day!
If you apply these 10 principles, you will get a lot richer, a lot faster. Don’t worry about what anyone says or thinks. Don’t feel like you have to just go with the flow and do what everyone else does.
1 – Save long enough for big purchases (car, house) so that payments plus all other expenses don’t go over 50% of net monthly income. Save the other 50%2 – Never EVER carry a credit card balance (unless it’s an emergency)3 – Every time you get a raise, automatically direct the difference to a savings/investment account4 – Understand the difference between a want and a need and try to indulge in fewer ‘wants’5 – Cut back spending on monthly expenses like cable, internet, insurance, etc. 6 – Buy healthy foods and avoid excessive eating out. Pack your own lunches7 – Focus on accumulating assets. A car is not an asset. Better if they generate cash flow.
Whether it’s a brick-and-mortar store, an online eCommerce business, or simply selling a product on Amazon, buying products from a manufacturer or distributor and selling them to customers is one of the most tried and true methods for succeeding in business.
Another option is listen to people who have been where you are and have what you want. This is what I have done to make more money and increase my quality of life. I am currently being mentored by multi-millionaires from all different backgrounds on a daily basis. A key point in becoming successful is believing you can. Napoleon Hill said it best “Whatever the mind of https://youtu.be/knlhNoFr-GY can conceive, and bring itself to believe, it can achieve.”
I first did this calculation back in 2011 when I started my savings journey and quickly realized that making $50,000 after taxes was going to be enough to get me to $1 million in 19 years at a 50% savings rate, but I would need to make a lot more money to do it in less than 10 years (which was my goal).