.How To Get Money To Stick To Your Fingers

August 9, 2020 · by The Escape Artist

When I was young and in my first proper job, one of the senior people described a new client that he was excited to be working with. He explained the reason by saying: “they’re the sort of person for who money just sticks to their fingers”.

Being an inexperienced idiot, I didn’t know what he meant. Perhaps that person had jam on his hands and sticky fingers? Perhaps he worked in a glue factory?

Er, no. What my colleague meant by that was that the person (a successful entrepreneur / businessman) had a Money Blueprint that meant they couldn’t help but get rich(er). They had a set of beliefs, habits and skills that meant that, all things being equal, they would likely go on to accumulate more wealth. There are no guarantees in life but a helpful Money Blueprint is…well, helpful to getting money.

.How to Talk to Your Financially Irresponsible Partner

Trent Hamm, Aug 3, 2020 Founder of The Simple Dollar

My wife Sarah and I have a good financial relationship. Sure, there are times when I feel like she spends too much on things like crafting supplies and extra camping gear, and there are times when she feels like I spend too much — usually on Kindle books or tabletop game items. We’re not perfect by any means, but we’ve reached a point where we’re clearly headed toward our shared goals and we recognize that we both are imperfect and make mistakes sometimes.

It wasn’t always this way. There were many times earlier in our relationship, particularly before we started taking our finances seriously, where we both perceived the other person as being financially selfish. I’d see Sarah getting tons of expensive coffees and believe in my head that she was the one being selfish and causing our financial problems, while she’d see me with a new video game or an armload of new books and believe it was me.

The feeling that your partner is being financially selfish and the cause of your shared financial problems is a common one, and it’s a tough issue to tackle. Often, people don’t know how to tackle that sense of a partner’s selfishness, so they either sit on that negative feeling until it festers and grows into an outburst, or they try to immediately address that feeling in a clumsy way and cause a fight. Obviously, neither one of those outcomes is a healthy outcome.

.“Personal Finance Is More Personal Than Finance”

Personal Finance Financial Planning Justin / August 2, 2020

“Personal Finance Is More Personal Than Finance” – Tim Maurer

A couple of weeks ago Morgan Housel joined The AGC™ for one of our weekly webinars. During the conversation, he shared what he called his “worst financial decision, yet his best money decision”. The short version of this decision is he and his wife aggressively paid off their mortgage. You might initially question why he might consider this his worst financial decision–paying off debt is typically a good financial goal and milestone.

However, with mortgage rates at historical lows, spreadsheets and financial planning software would suggest investing the dollars that would be used for additional payments instead of paying off a mortgage; the long term expected return of a diversified portfolio is greater than current mortgage rates. Yes, I’m aware that past performance does not predict future returns, but even the most skeptical investor has to believe the long term return of a diversified portfolio should do better than the interest rate on a mortgage today.

.Don’t Be That Person

Adam M. Grossman August 2, 2020

THE TRICKY THING about investing is that there’s no single “right” approach. In an earlier article, I described the approach I favor—what I call the five minds of the investor, which involves being part optimist, pessimist, analyst, economist and psychologist.

But there are many other ways to be successful: You might invest in real estate, or follow a quantitative investment strategy, or invest in private companies. There are plenty of people who do very well with these approaches.

That said, there are also many investing styles that look like they might work, but often don’t. Want to fare well financially? Here are five common approaches to investing that you should probably avoid:

.Inheritance Tips So You Don’t Screw Up Your Child’s Life

Posted by Financial Samurai

If you’ve amassed a decent amount of wealth, you will likely want to leave some of it to your children. Let’s discuss some inheritance tips so we don’t screw up our children.

One of the reasons why my 30-year-old neighbor still lives at home with his parents is probably because he expects to inherit a boatload of assets. His parents’ home, alone, is probably worth about $2.5 million.

The great thing about my neighbor’s living situation is that his parents only come to visit during the weekends. His parents have another home in the North Bay. He also rents out one of the rooms to his friend.

.10 Steps to Become a Millionaire in 5 Years (or Less)

Increase your income, lifestyle, and joy Benjamin Hardy, PhD Mar 23, 2019

It doesn’t matter where you currently are in your financial situation — whether just starting out or already making lots of money. Most people, no matter what their income, are treading water. As a person’s income rises, so does their spending. Few people understand how to continually increase their income, lifestyle, and joy at the same time.

In this article, you will learn:

How to become wealthy

How to build a life that continually increases your level of confidence and joy

How to continually expand, learn, grow, and succeed as a person

How to develop mentorships, friendships, and strategic partnerships with nearly anyone you want

If these things are not interesting to you, then this article was not written for you.

Here’s how it works.