Reading Time: 4 Minutes I wrote earlier this year about how “Being Rich Eliminates 67% of Life’s Problems” (link here). Well, following on from the study Tom Corley did… You know, Tom Corley? The guy who spent 12 years conducting a study by interviewing and researching millionaires, multi-millionaires, multi-multi-millionaires and a group designated… “poor”, to try and see what’s the difference between “rich” and “poor”. In short, it is habits, habits and habits. However in this, he also discerned 4 very different paths towards accumulating wealth. The Dreamer/Entrepreneur These are people who the phrase “love what you do” is coined. And it showed, with an average net worth of $7.4 million. But the path is…
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Case Study – $1.1m to Invest, Now What? Part 2
Reading Time: 4 Minutes Welcome back folks! Are you ready for part 2 of the case study? In which we answer a question MrsFrugalSamurai sent me: “Have $AU 1.1m to invest (recent inheritance) + $150k savings Current situation: Late 20’s income $100k, partner earns $100k No kids, no assets, no debt Aim is to be a homeowner and financially independent at some stage. How would others split it between: PPOR (principal place of residence, i.e. primary residence) buy outright or deposit + mortgage Investment property Low cost index/ETF/Super Others?” If you missed part 1, or want a refresher – don’t fret, have a quick read of it here. Actually… you…
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Case Study – $1.1m to Invest, Now What? Part 1
Reading Time: 5 Minutes Wow what a day guys! Glad to see the end of it that’s for SURE. And you know what really capped it off? Yours truly somehow managed to step straight into doggy doo doo. Now normally I don’t mind a bit of dog poo, it’s a sign of vitality duncha know. Usually it sits there, quietly contemplating life and minding its own business. I respect that, it’s comfortable with the world. Unfortunately, JUST like asbestos… it’s deadly once disturbed. Man alive, I only found out AFTER I got back in the car. Driving down the main road during peak hour, suddenly I felt the peculiar need…
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Can You Work Your Way to Wealth?
Reading Time: 2 Minutes What’s up boys and girls! OK, so I found out something very interesting this week. If you earnt $5,000 a day, Monday to Friday from the time the First Fleet set foot in Australia until now… you wouldn’t be a billionaire. Nope. Although, you would have a paltry $288 million. That’s A LOT of Dough. Yeah, though that’s after 230 years, 250 working days each year at $5,000 a day… BUT If you had the foresight to leave it in a bank account etching out a 2% return p.a. then your $288 million would return… Over $6.2 BILLION. That would be a 22x increase. And that’s…
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WeChat!
Reading Time: 2 Minutes Howdy folks! OK so many of us are familiar with Whatsapp, most of us are familiar with Facebook, and all of us are familiar with Amazon. But what if there is one company which can combine all three? Enter: WeChat You’ve probably heard of them already, but if you haven’t – I thought it best to write up a quick post on an app which is revolutionizing mobile platforms. WeChat When a company’s scale and market penetration is so gigantic that it’s described as “an ecosystem”, and the “only operating system for your life”, you should probably take note. WeChat is one such company (owned by…
