In my last post I introduced you to the concept of the Living Wealthy Account, and the use of a special whole life insurance vehicle to enable this. It’s easier to draw a loan from this account – to borrow money – than with a traditional bank. For example, suppose you find a great realRead more
In my last post, I spoke about creating a Wealth Capture Account, as part of the Rockefeller Formula, to make saving money something that was automatic for you, so that you grew wealth without having to think about it. Here, I look at creating an account for your non-essential spending. Account #2: Living Wealthy AccountRead more
In these recent posts, I’ve been exploring ways in which you can fix the leaks in your financial bucket and improve your cash flow without scrimping. In my previous post, I suggested that you incorporate your business, in order to improve your tax advantages. If you already have an entity established, you can probably stillRead more
In my previous posts I’ve been looking at ways you can plug up holes in your spending, to boost your income without scrimping. Another way is by incorporating yourself. If you haven’t set up a legal entity, such as an LLC or S Corp, you’re overpaying in taxes. Business owners get tons of tax breaksRead more
In my previous two posts, we looked at types of expenses, and which ones to cut out (the destructive kind). In these next few posts, I’ll explore ways in which you can retain more of your income, by plugging up the holes in your cash flow. Imagine you’re trying to fill a bucket with water.Read more
At this point in this series of blogs about crushing debt and laying the groundwork for building wealth, I have to backtrack a bit to provide some context and nuance on debt. Debt is usually defined as any borrowed money. Defined more technically, however, debt is having liabilities that are greater than assets. Liabilities areRead more
In my last two posts, I looked at four strategies that you can follow to crush your debt: building savings, restructuring your loans, using the Cash Flow Index and being cautious about locking money into assets. Without a fundamental change in consciousness regarding debt, none of these strategies will work in the long term. ForRead more
I don’t believe in retirement plans, or reliance on financial advisors. I do believe in building your future and ensuring your freedom. And that it’s doable for everyone. The 5 Day Weekend is not a strategy that’s reserved exclusively for the smart, clever, talented, connected, formally educated, or wealthy. It’s a strategy that anyone canRead more
“While there are no shortcuts to getting rich, there are smart ways to go about it.” – Phil Town, American investor and motivational speaker In my last post, I talked about how your goal should be to manage your income so that you can be free of the confines of a typical job – soRead more
In my last posts, I introduced you to the passive income ratio, which refers to the amount of passive income generated in relation to your expenses. The more passive income, the easier it will be for you to reach your financial independence ratio. Now, when you’re building your Financial Independence Ratio, I’ve got what IRead more
