Posts Tagged ‘financial independence’

Bitcoin’s Achilles Heel

Cryptocurrencies are all the rage with bitcoin (BTC) leading the pack. As I write, BTC blew past a 1,000% return year to date and posted its first trade above $10,000. Experts claim BTC could increase another 400% between now and the end of next year to $40,000 or more! If that doesn’t make your eyes…

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5 Things Wealthy People Demand of Their Investment Advisor

  Thirty plus years in the tax field has exposed me to the good, bad and downright vulgar. In the early 1990s I was a top producer at a broker/dealer for several years before refocusing on the accounting end of my practice. Before I left the industry changes were underway. Fee-based asset management was gaining…

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When Maximizing Gains are a Stupid Idea

There are times thinking like an accountant determines how much of your hard-earned money you get to keep and how well your investments perform. Money isn’t the only thing accountants think about either. Time is more important than money by a long shot and plays into the equation every time. This past week my oldest…

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How a Broke Farmer Became a Millionaire

1978: It was hot and dry the summer of 1978 in northeast Wisconsin and I hated it. My fourteenth birthday was around the corner and I was recently out of the hospital from heart surgery. The doctor said I needed to sit still as I healed over the next six months and my grandmother did…

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Tradelines: The $1,000 an Hour Side Gig

Remember all those credit cards you acquired to earn out those bonuses and eventually canceled? You’re going to wish you hadn’t done that. Credit cards are one of the most powerful wealthy building tools in existence today when used properly. They get a bad rap because irresponsible people rack up massive quantities of high interest…

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7 Questions Rich People Ask Their Accountant

A year ago I started tracking the questions clients asked me. Clients were put into three categories: those with income below $50,000; those with income over $400,000; and everyone else in between in the final category. Obsessive-compulsive disorder isn’t the reason for my behavior. I noticed questions frequently were based upon wealth. I needed to…

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Choose Your Friends Carefully

There is no doubt the kids are back in school. Three times a week I visit the gym midafternoon, a slow time of the day for the establishment. All summer I had the floor to myself or nearly so. Then the days got shorter and the kids went back to school. This gives mom free…

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