Here's our second interview with a millionaire as we seek to learn from those who have grown their wealth to high heights. If you'd like to be considered for an interview, drop me a note and we can chat about what interview works best for you. My questions are in bold italics and their responses follow in black. At the end, I add some comments after the … [Read more...]
The Ten Best Money Moves Anyone Can Make
Summary: Of the many different financial moves anyone could make, these are the ten best. It's been awhile since I shared what I believe to be the ten worst money mistakes anyone can make so I thought it was time to discuss the other side of the coin and list the ten best money moves anyone can make. Of course the two are linked closely together -- if doing something is … [Read more...]
Playing Financial Chess, Part 2 (Three Phases of Wealth)
Yes, I'm a chess nerd. But in the worst sort of way. I love chess but am terrible at it. At least compared to most people who consider it a hobby. That's because I usually only play blitz chess, a quick version where the time allowed to move is severely limited. The long version just takes too much time for me. Which makes me not a great player as I'm not a deep, strategic … [Read more...]
Millionaire Interview 1
I'm a big believer in learning from people who have actually done something you want to do (versus people who know about a topic "in theory" but miss many of the practical aspects of the issue.) As such, I'm beginning an interview series where I talk to people who have accomplished something extraordinary financially. Some will have high net worths, some will have grown … [Read more...]
The Essentials of Building Wealth
Summary: This post details the few, essential steps anyone needs to take to build wealth. My daughter is the only one in the family brave enough to play me in chess. I still beat her handily each time, but she keeps trying, so I give her credit for that. After the last game I told her that I'd teach her a few basic chess guidelines that would improve her game … [Read more...]
How to Become a Millionaire
Why is everyone enamored with becoming a millionaire? Is it because having $1 million means "you've made it?" (or at least that's what people think -- depending on your age and spending habits, $1 million may be enough to last the rest of your life or may fall woefully short). Whatever the reason, I certainly see a regular dose of "how to become a millionaire" articles … [Read more...]
Great Advice from an ESI Reader
If you do not read the comments here at ESI Money, you are missing a lot. One mark of a great site (IMO) is the quality of people who read the site and leave comments. I am thankful for so many great readers and that they leave comments that are just as valuable as the posts I write. One such comment that I found very compelling was from reader Mike H who commented on … [Read more...]
The First Million is the Hardest
Summary: Some say that hitting your first million in net worth is harder than hitting subsequent million-dollar milestones. This post examines whether or not this is true. Ever hear the quote "the first million is the hardest" (meaning the first $1 million in net worth is the hardest to achieve)? Is it true? And if so, why? Today we'll discuss this topic and uncover … [Read more...]
Playing Financial Chess
As I noted in What I've Been Reading, the Leadership Team at work has been reading Scaling Up: How a Few Companies Make It...and Why the Rest Don't (Rockefeller Habits 2.0). It's a basic management book in many ways (and yet most companies don't implement the basics) but also a very good one if you're interested in business. A quote from the book stood out to me and I … [Read more...]
My Millionaire Habits
A couple months ago I posted on Millionaire Habits, a list of 13 things Business Insider considered to be traits of millionaires. In this piece I thought I'd share what I consider to be my personal millionaire habits. I think it will also be fun for you to share yours in the comments on this post. Here's what I consider to be the habits that have helped me become a … [Read more...]
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