How Much Money Do You Need to Be Wealthy in America?
.How Much Money Do You Need to Be Wealthy in America?
By Suzanne Woolley May 15, 2018
A few million should do it. But for some, it’s not just about the cash—it’s what you do with it.
Many Americans cite leading a stress-free life and having “peace of mind” as their personal definition of wealth. That doesn’t sound too money-centric on the face of it—until you consider that money, or specifically the lack of it, is a major source of stress.
Americans don’t like to admit that assets can buy happiness—just 11 percent of those surveyed for the second annual Modern Wealth Index from Charles Schwab chose “having lots of money” as their definition of wealth.
But while most respondents selected more high-minded concepts as their keys to contentment, they weren’t afraid to put a number on what they needed to get there.
To be financially comfortable in America today requires an average of $1.4 million, up from $1.2 million a year ago, according to the survey. The net worth needed to be “wealthy”? That’s an average $2.4 million, the same as last year in the online survey of 1,000 Americans between age 21 and 75.
If Money Could Talk
If Money Could Talk
By Greg Habstritt
A Powerful Perspective You’ve Never Heard Before – "If Money Could Talk"
Most people think they know me. They don’t.
I am not what most people think I am. I am not the paper in your wallet, or the coins that jingle in your purse. I am not quietly sitting in your bank account, hoping to be used one day.
You cannot see me, feel me or touch me. I am an idea. I am energy.
I’m neither good nor evil. I am only what you decide that I am, and I fulfill the role that you create for me.
I don’t care how smart you are, where you live, what you do, or where you come from. All I care about is your energy.
Your energy decides what thoughts you have, and therefore your thoughts will determine the relationship you have with me.
I have very simple needs, and simple rules. I am infinite.
The Buying Power of the U.S. Dollar Over the Last Century
.The Buying Power of the U.S. Dollar Over the Last Century
The Money Project is an ongoing collaboration between Visual Capitalist and Texas Precious Metals that seeks to use intuitive visualizations to explore the origins, nature, and use of money.
The value of money is not static. In the short term, it may ebb and flow against other currencies on the market. In the long-term, a currency tends to lose buying power over time through inflation, and as more currency units are created.
Inflation is a result of too much money chasing too few goods – and it is often influenced by government policies, central banks, and other factors. In this short timeline of monetary history in the 20th century, we look at major events, the change in money supply, and the buying power of the U.S. dollar in each decade
How Much Money Means You Don’t Have to Worry?
.How Much Money Means You Don’t Have to Worry?
By Caragh Poh Mar. 11, 2019
Get That Money is an exploration of the many ways we think about our finances — what we earn, what we have, and what we want.
When I was a kid, I somehow became aware that some people could allegedly make $100,000 a year — more than both my parents combined some years, and the closest answer my father would give to my nosy questions about his income.
He always told me to never look down on people who do honest work for little pay, but, concerned I would tell other people, he also refused to tell me how much he made.
The lesson I drew from this has been a very Catholic-influenced do not ever make anyone feel ashamed, but please remember to allow shame to infiltrate your life at all times.
We were not a $100,000 family. I did not come from $100,000 stock. And so, obviously, making $100,000 became my one true path to happiness and feeling quietly better than everyone else. I could own a bigger house, with newer toys, and I could buy clothes that weren’t on sale at Walmart.
I could own every single Backstreet Boys and Brandy CD. CDs were so expensive! CDs were $19.99 each! I would never fight with people I love about money.
Gold Has Outperformed The Stock Market Over The Last Year
.Gold Has Outperformed The Stock Market Over The Last Year
Notes From The Field By Simon Black
December 4, 2019 En route to Saint Lucia
For more than a year, I’ve been strongly encouraging readers to consider buying gold.
In fact, almost exactly one year ago to the day, I wrote that gold was cheap relative to just about every other asset class in the world.
Since then, gold has been one of the best performing investments in the world.
Over the last 12 months, the price of gold is up 21.1%, handily outperforming everything from the S&P 500 index in the US to stock markets in China, Europe, and Canada, plus bonds, real estate, and even major commodities like oil.
Gold has even outpaced the stock prices of many of the world’s most popular tech investments like Netflix, Tesla, Amazon, etc.
(One of the more interesting exceptions has been Bitcoin, which has more than doubled in value over the last 12 months. We’ll talk about that another time.)
How to Get Your Friend Who Owes You Money to Finally Pay You Back
.How to Get Your Friend Who Owes You Money to Finally Pay You Back
By Anne Gaviola Dec 2 2019
We asked a bounty hunter how to track down and extract payment from your crappy ex-roommate.
Everyone has that friend, or family member, who owes them money and hasn’t paid it back for months. Or years.
This isn’t the friend that you have a forever tab with, where you go back and forth “owing” each other $40. This is for the friend who borrowed a month’s worth of rent money and has gone MIA.
Sure, you can cut your losses and consider it an expensive life lesson. Conventional wisdom suggests you shouldn’t lend anything to a friend that you’re not willing to kiss goodbye, at least not without ruining the relationship. But you could probably use that money right about now, and according to experts, if you’re willing to put in some time and effort, you can greatly increase your chances of getting repaid in this lifetime.
Locate The Target
Alex Hayes is a 28-year-old bounty hunter in Georgia. Her job is to find people who owe money, who don’t want to be found. She also runs a private investigation business with her boyfriend. According to her, the first thing you need to do is track down the friend who is avoiding or ghosting you.
What to Do Right Away After Inheriting Money
.What to Do Right Away After Inheriting Money
By Rick Paulas
The first thing to do is absolutely nothing. Turns out, grandma was hoarding millions. Or grandpa. Or maybe your old ex who forgot to update their will, or your aunt who you had a close relationship with, or you’re a participant in any number of scenarios where huge inheritances suddenly come out of nowhere. Or, you won the lottery.
The point is, you’ve come into a “life-changing” amount of money—a specifically murky description, as it can mean something else for everything—and you had no idea it was coming. So, what do you do?
The first, and most important thing, is to do absolutely nothing.
"HOLD IT AND DON'T DO A THING FOR THREE MONTHS!!!” is what the finance blogger J. Money adamantly recommends. “Then once it soaks in and you've had time to let the feelings and ideas settle, start taking action.”
We’ve all seen stories of the instant-rich being bombarded with requests from every other third cousin or long-forgotten high school chums looking for interest-free loans or “investment capital” for their “back-scratcher with a mp3 player” idea or whatever.
Woman Wins $188 Million Lotto Prize But Ends Up Losing Control Over Her Life
.Woman Wins $188 Million Lotto Prize But Ends Up Losing Control Over Her Life
Sukriti February 10, 2018 Shallotte, North Carolina
What a compelling invention it is; the whole concept of the lottery. Have you ever tried your luck in lottery tickets? We all know the probability of winning a lottery, its almost zero. Still, these lottery tickets attract us every now and then.
Some of us never buy these tempting tickets but everyone has wondered at least once about winning them. How incredibly it can change one’s life within a blink of eyes. But everything comes with a cost that most of us won’t understand what it might take unless we’ve experienced it.
A story of luck, fate, good, bad, consequences, threats and more. The story of Marie Holmes has all in it. Like most of us, her life too was filled with ups and downs. Sadly for her, life was mostly about hard times and very rarely she had good days in her life. But the way her life changed has always been a dream for millions of people.
Trying Hard
Marie Holmes, a 27-year-old single mother was on her daily job routine. Working hard to fulfill her four kids’ daily needs. She was trying to save as much as she can for their future. No matter how hard she tried to bring things in the right place, Marie was never able to cop up with the rapid speed life actually demanded out of her.
Tips To Help Create Financial Peace
.The Best Money Management Tips To Help Create Financial Peace
Not everyone needs to be a financial wizard, but everyone should be armed with the best — and simplest — money management tips.
And these straightforward items do not require you to be a genius or some math connoisseur either.
Money Management TipsInstead, these tips about money are things anyone can apply and become quite comprehensive with.
These areas below are also what got me on track to eliminating $50,000 in debt and achieving a 65% savings rate without becoming extremely frugal or having a six-figure salary.
This doesn’t mean you won’t get confused at times or be unsure about something, but that’s part of the learning process of financial literacy!
However, the goal of these tips below is to help you feel less stressed and more at peace with your finances. Let’s dive in!
Don’t Get Lost In the Spreadsheets and Numbers
I’m the guy who really dislikes budgeting and staring at numbers daily to see what was spent. But, I still think it’s important to know how to budget and create one if you are truly just getting started.
Creating a Holiday Budget: The Most Wonderful Time of the Year
.Creating a Holiday Budget: The Most Wonderful Time of the Year
Ah, the holiday budget season always approaches so fast.
One minute you are sipping umbrella drinks in Summer at the beach — and then out of nowhere — you are creating a holiday shopping list, hoping not to overspend this year.
While the holidays are great for spending time with family, friends, and giving to others — it can also be stress-inducing when it comes to your bank account.
But there are ways to ensure you stick to your budget and keep your personal finances happy. Below are a few essential tips to ensure you don’t go into debt or overspend this holiday season.
Holiday Spending Statistics
t’s crazy to see stores and online ads for holiday shopping before November even starts. Sometimes it even begins before Halloween even has a chance to slow down.
Banking Perks for the Rich That Will Make You Green With Envy
.Banking Perks for the Rich That Will Make You Green With Envy
By Destiny Lopez
Famous faces are known for getting mountains of free stuff and special treatment. And the bank is no exception. Forget cars, jewelry and runway fashions. For the ultra rich, the particular bank they use and the options available are the ultimate status symbols.
Bank branches have levels, or tiers, of service.
Making large deposits and keeping your stacks of cash in the bank has its perks. Your bank will make sure you are taken care of, as financial security (which means less stress), does a mind and body good.
From jumping the line at your local branch to private wine tastings with your banker, here are banking perks of the famous and ultra wealthy.
What is your daily ATM withdrawal limit? Maybe $300 or $500? Non-private banking branches with celebrity sightings may allow higher ATM withdrawal limits. A recent and sad example of this perk is Philip Seymour Hoffman, who withdrew $1,200 from a grocery store ATM the evening before his untimely passing.