Do you have a passion for real estate? Have you ever wondered how fast your rental empire could grow? And how quickly you’d become wealthy?
I’ve spent quite a few nights trying to figure out over the years:
When we’ll have enough money to buy the next rental How much we’ll earn from year to year And how much our net worth will grow as I acquire more and more rentals
Pretty much I always ended up with a notebook page filled with scribbles and cross-outs, and a very vague sense of how everything would play out with the rentals 10+ years from today.
Finally, I decided that I’ve had enough with my rough estimations! It was time to figure out all of the details exactly. So you probably know what that means! It was time to build another Excel-based calculator! 🙂
(Interested in all the free tools . . . → Read More: The Rental Property Wealth Calculator: Your Path to Millionaire Status
Unless you have a business degree or work in the world of finance, investing can be intimidating. However, what you don’t know about stocks, bonds and mutual funds can be downright expensive; if you pick the wrong fund for your 401(k), IRA, taxable account or any other, you can put your financial life at risk.
Fortunately, there have been some terrific influential books written that can help distill the art and science of investing into something the average reader can understand. Here are five great books every new investor should add to their library, as they try to comprehend the world of high finance.
This post was written by our talented writer, Will Lipovsky. Enjoy!
The Intelligent Investor
If you could only read one book on investing, Benjamin Graham’s 1973 classic is the one to choose. The Intelligent Investor describes the history and operation of the stock market, its inner . . . → Read More: 5 Influential Investing Books We Should All Read
It seems like everyone is trying to beat the market these days. If the general market earns 8%, they want to earn 10%. If it reaps gains of 12%, then they want 15%. And they figure if they pick just the right stocks, they can earn beefy returns and retire with loads of cash at their disposal.
I guess it makes sense, right? If I was given the choice between 10% returns and 20% returns, then I’d choose 20%! I mean, why not? The only thing is, nobody has a clue how to do this. In fact, it’s been proven time and time again that monkeys can choose stocks better than the financial experts!
And you know what? A massive percentage of growth in your investments isn’t the main factor to riches anyway! Think I’m nuts? Read on and let me prove you wrong. I promise I won’t gloat too . . . → Read More: Investing: It’s Not About The Percentage of Growth
Are you one of those crazy people that aspire to retire extremely early? Like earlier than 50? Earlier than 40? Heck, maybe you even have the goal to retire by 30! It’s been done before, so why not you?
What would you like to do with your early retirement?
Travel the world Volunteer in your local community Lay on the beach all day Do….anything! 7 Keys to Retire Extremely Early
You might not know exactly what you want to do, but you DO KNOW that you don’t want to work in a cubicle from 8am-6pm for the rest of your life. So why not save up a pile of cash and enjoy life in retirement while you’re still young?
If you think this sounds like heaven, then let’s figure out what you’ll need to do to make it possible!
1) Get Out of Debt
If you’re trying to beef . . . → Read More: Retire Extremely Early – The 7 Keys
The stock market sure has been a wild ride lately! First, we were all scared by Brexit, then the economy showed signs of strength, so the market bounced back. Next, Donald Trump became our new President elect and the market went into a panic – only to be followed by one of the best stock market runs we’ve seen in a while.
It sure has been a roller coaster. So how have my Silver Motif investments fared?
My Silver Motif Investments
Alright, for those of you that don’t know about my Motif investments, here’s the quick update:
Liz and I have quite a bit of cash, and I wanted a hedge investment in case the market crashed I stumbled upon Motif Investing, where I could invest in silver as a sound hedge I bought $1,000 worth of a precious metals fund The fund soared 30% almost immediately I did . . . → Read More: My Silver Motif Investments – How Are They Tracking?
Do you want to help your child financially with college? My wife and I definitely do, but we had two problems:
We had no idea how much college tuition would be 18 years from now We didn’t know how much we should invest monthly to fund that amount
If you’re not a Financial Advisor or a Financial Aid Counselor, then I suspect you’ve got the same issues, which is exactly why I dug through the details, put together an Excel spreadsheet, and developed a tool that will help every single parent calculate the cost of college!
Download the Free College Investment Calculator here Free College Investment Calculator
Before you plunk in your numbers, let me tell you… it’s going to be more than you think. That was my experience anyway.
Our daughter Addi is 6 months old. We opened a 529 fund a couple of months ago and currently have . . . → Read More: Free College Investment Calculator: It Costs More Than You Think
On my 20th birthday, I opened my first mutual fund. As a part-time night teller earning $8.25 per hour, I was so proud of myself. Things didn’t go quite as I’d planned them, however. Throughout the next decade, I learned many investment lessons from my own choices and actions – as well as others’.
I wish I could say all of the lessons were positive. But, mistakes are excellent teachers, too. Doggone it.
So, here are some things I learned. You may agree or disagree with this list. It’s likely your own list would look different. That’s alright. Once you’ve read through my list, I’d love to hear your thoughts in the comment section below.
3 Major Investment Lessons I Learned In My 20’s
First of all, should investing even be on your radar when you’re in your 20’s?
ABSOLUTELY. I may not have handled it perfectly, but I plan . . . → Read More: 3 Major Investment Lessons I Learned In My 20’s
Liz and I bought a rental house on November 30th, 2015. We fixed it up, had an open house, and landed some awesome renters that moved in on April 15th, 2016. We are now officially landlords (which still seems weird to say).
Related: How to Attract the Best Tenants for a Rental Property
So what’s the point? Why did Liz and I decide to dump $90,000 into a rental property instead of the stock market?
It’s pretty simple actually. We don’t trust the stock market at all.
The market goes up, tumbles down, it comes back again and thrives, and then all the sudden it’s down in the dirt again. Quite frankly, the market seems about as safe as jumping out of a plane with a 50 year old parachute; we might be completely safe and have the time of our lives…or we might die with nothing.
Yes, we still . . . → Read More: Rental House or the Stock Market – Who Won So Far in 2016?
Back in late June, I went against Dave Ramsey’s advice and I bought silver. Actually, I bought a silver/gold motif (see my reasoning here), but I’m sure it still wasn’t Ramsey approved. Within the first 12 days of my investment, the silver and gold motif soared and I was up 23% on my investment. Within the next month or so, my earnings climbed to 33%!
Related: What is Motif Investing? A step-by-step sign up guide
The initial plan was to invest in silver as a hedge against the market. Once the stock market crashed (I’m suspecting early 2017), I was going to ride the monstrous wave of silver earnings into late 2017, then cash out and buy a severely discounted rental property. I definitely didn’t expect the early windfall 12 days after the initial purchase.
Fast forward four months and silver has tumbled once again…(doh!). At this point, I had . . . → Read More: Why I Just Doubled Down on Silver