Hello Young Person With Cash, You know that you have to invest some of your money in places like retirement accounts. However, not all of your money is for long term investing. You need to keep some money in the form of cash. This leads to the question: What to do with cash? There are […]
Author: Rich Mom
Pay Yourself First
Hello Young People, Pay yourself first! There, I said it. I know that lots of financial gurus advocate paying your debts off first, before you start investing anything. But, I am in the “pay yourself first” camp. What Does Pay Yourself First Mean? Pay yourself first means that each and every time you earn some […]
Become A Credit Card Deadbeat
Dear 30 and Under, I have usually heard the term “deadbeat” as a negative one. However, today, I am encouraging you to become a credit card deadbeat. Not Sure If It Is Worth It To Become A Credit Card Deadbeat? Let’s Start By Looking at Three Reasons To Use a Credit Card First, using a […]
Diversifying Your Portfolio: The Early Stages
Dear Young Portfolio Holder, I am very excited that you have started or plan on starting an investment portfolio. Today, I am going to discuss the early stages of diversifying your portfolio. So, let’s get started. First…What do I mean by Investment Portfolio? The term “investment portfolio” is sometimes used to refer to a person’s […]
Diversified Portfolio: Is Your Investment Portfolio Diversified?
Dear Financial Literacy Family and Friends, Today, I have a question for you…Is your investment portfolio diversified? If you don’t have an investment portfolio started yet, I hope that you are planning to start one very soon. If you have one or are planning on starting one, are you making plans to create a diversified […]
Overcoming the Obstacles To Buying Your First Home
Dear Young & Wanna Buy A Home One Day, Today, I am discussing overcoming obstacles to buying your first home. Most people buy their first homes in their 30’s. But, there are some benefits to buying a house in your 20s. Some of those benefits include: no longer having to worry about rising rent payments, […]
The Three Types of Income
It is a good idea to have all three types of income…
What is the Difference Between Emergency Funds and Rainy Day Funds?
Dear Young Saver, Today I am discussing emergency funds and rainy day funds. I was recently listening to a conversation amongst some people discussing saving money. It was a group of people that appeared to be varying in ages, from I would guess late teens to late fifties. They were discussing setting aside money for unexpected […]
Why a Roth IRA Is One of My Favorite Retirement Accounts
Dear Young and and Wondering Why a Roth IRA is One of My Favorite Retirement Accounts, So, you are about to start your first job, or perhaps, you have already started. Have you begun thinking about your retirement? If you are not, you should be. Have you started saving toward retirement? If yes, you are ahead […]
Becoming a Millionaire by Starting In My 20’s
Dear In-Your-20s-&-Wondering-How-To-Become-a-Millionaire, I am often get asked questions such as, “How do I go about becoming a millionaire by starting in my 20’s?” I love this question because I like that the young person is thinking about building wealth. Sadly, so many young people are distracted by the glitz and commercialism that is ubiquitous on social […]