Achieve Financial Freedom. Faster.
Millionaires. There are more millionaires in the world than I thought. While it is still a lofty financial goal to be a millionaire for many, a million dollars isn’t what it used to be. The number of millionaires in the world totaled 62.5 million in 2021 based on the 2022 Credit Suisse Global Wealth Report. … Read more
One of my financial goals is to have a well-funded 401(k). I grew up in a family with very little money. That is one of the reasons why I am mindful of my money and careful with how I spend it because I know how tough it is to live with limited funds. About two … Read more
Why do the rich get richer? The first million is the hardest as the old cliché goes. It’s a cliché because there is truth to it. Based on my own experience, I found this to be true. For me, the first million was the hardest. It was easier to make the second million than the … Read more
Note: This post is part 2 of a 2 part post examining the household budget of a family of 4 making $1 million a year. Given the level of detail I want to provide on their household expenditures, I’ve decided to break the post into 2 parts. This post contains discretionary and miscellaneous spending. Part … Read more
Are you interested in how a household with a $1,000,000 income spends its money? I put together a hypothetical budget for a household making $1,000,000 a year and how that amount might be spent. This is based partially on my own household budget with certain modifications to incorporate other high income families I know. Even … Read more
When I started my professional career over 20 years ago, hitting the 6-figure income per year level was a goal of many. People would say to themselves “I’ve made it if I can get a job that pays over $100,000 annually”. While that is still the goal for some, the 6-figure mark isn’t what it … Read more
The United States of America is known as the land of opportunity. I believe anyone can do financially well in America. And Americans have done very well financially when compared to the rest of the globe. Americans dominate any global rich lists out there. Additionally, Americans are at the tip top of the wealth pyramid. … Read more
How much does it take to be middle class, upper middle class, and upper class in New York City? I think it is largely dependent on who you ask. We all know that New York City is a very expensive city. NYC is over twice as expensive to live in when compared to the national … Read more
It isn’t easy to break into the top 1% of net worth in America. America, after all, is the number #1 economic powerhouse in the world. It might not always feel this way, but we, as Americans, are very lucky to be in America and all the opportunities afforded us here. We won life’s financial … Read more
I have a passion for personal finance. My belief is that passion developed early on in my childhood. I grew up in a financially poor household. Despite having a very happy and content childhood, I also witnessed firsthand how challenging life can be without money. That set me on the course to want to do … Read more