There is risk involved in all investing. Don’t let that stop you from investing. Instead, spend some time thinking about how to manage the risk. Read here to get some ideas.
Tag: rich mom poor kid
Ingredients of Building Wealth
What are the ingredients of building wealth? Read here to find out the four ingredients that you need.
10 Things Everyone 30 and Under Should Know About Taxes
Dear Relatively New To Thinking About Taxes, I think that there are at least 10 things everyone 30 and under should know about taxes. Let me start by telling you how I came to that conclusion. I was a teenager when I got my first job. The thought of having new money was so exciting! […]
Keeping Up With The Joneses
Hello Dear Young Friends, Not long ago I wrote to you about conspicuous consumption. This week, I am writing about a related personal finance stumbling block called “keeping up with the Joneses.” Are you familiar with that expression? Just in case you are not, I will start with the meaning. What Does Keeping Up With […]
Conspicuous Consumption
Welcome Back Young Friends, Today’s letter is inspired by a message that someone sent me at the beginning of the year. On the surface, the message was about Birkin bags. But at the root, the message was about conspicuous consumption. In case you don’t know what a Birkin bag is, it’s a handbag. These bags […]
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 […]
The Best Ever Birthday Gift to Buy Yourself
Dear Favorite Ones, First, as always I hope that you are feeling healthy and happy. Did you know that July through October tend to be the most popular months for birthdays in the United States? In fact, August is said to be the most popular month for birthdays, which apparently is tied to the festive […]
What is a Bond? Rich Mom Answers
Today’s financial literacy discussion focuses on bonds. Did you know that lots of people who own stocks, don’t own any bonds? In fact, some don’t even know what they are. But, owning bonds in your portfolio can be a very good idea. Have you ever bought a bond? Yes? No? If you have, what type […]
What Are the Major U.S. Indexes? Rich Mom Answers
Hey! Welcome to the Rich Mom, Poor Kid blog! This is a blog that hopes to encourage those 30 and under (or anyone just beginning their path to financial literacy) to take steps to move toward healthier, wealthier lives of more freedom. Part of financial literacy includes understanding the concepts and vocabulary of finance. The […]
Top 13 Things To Remember About Budgeting
Dear Budget-Seeker, Steve works as a computer programmer. While doing this , he makes approximately $80,000 a year. Every couple of months, Steve looks at his bank account and bills online and is concerned that his minimum payments due on his credit cards are getting larger. Also, he has noticed that the amount that he […]