What the Rich Know that the Rest Don’t


My Mom loved to watch people. She loved to see how different folks dressed, acted and talked. She often wished to see how the "Other" half lived. Her background was lower middle class. She and Dad worked hard and moved up the wealth chain, allowing my spouse and I to move up even further. Along the way, I learned some things that are seeming secrets of the wealthy. Here are several ideas on what I think the rich know that the rest of us don't. Long term thinking matters. Whether it is slowing saving money to invest or gradually growing…

Stop Thinking. Start Doing.


Although I like to believe I'm the perfect person in every way, I'm not. I have numerous flaws. I've been known to fart in bed (and other locations, come to think of it). I eat and drink too much junk. I'm terrible at catching non-verbal cues, much to the chagrin of my girlfriend, who pretty much exclusively communicates that way. I'm stubborn, and will sulk if I lose an argument. But those faults pale in comparison to my worst one, and that's procrastination. My version of procrastination goes like this. When faced with a decision, I'll spend some time researching…

How to Discuss Money Differences Without Fighting


Money creates strong emotions in many of us. The way we spend, save and otherwise use our money impacts in many ways. When we have differences in philosophy with a life partner, though, things can get even more heated. The way we view and use money is at the core of who we are as people, and that can create challenges when it comes to discussing finances. If you don't want your financial discussion to turn into a fight, here are some things to keep in mind: Understand that it's Not Just About the Money First of all, realize that…

Should You Ever Buy A For Sale By Owner House?


If you ask any Realtor, FSBO might be the four most hated letters in the world. Yes, I'm talking about the dreaded For Sale By Owner. From a seller's perspective, I can see why someone would want to sell a place on their own. In a world where the commission alone will end up costing a seller at least five figures, it's only natural to want to put that cash back in your pocket. Besides, the process of selling your own place isn't that hard if you have a good lawyer in your corner. All you really need to do is…

Is Your Family Wealth Sustainable?


Around the world, in most every country, there is a saying that goes something like: "Shirtsleeves to shirtsleeves in three generations", meaning that the first generation works hard, earns and saves to build a family fortune, the second generation sustains the fortune only to have the third generation lose it. There are families who have overcome this syndrome. They have overcome the threats to sustainable family wealth. What are the threats to sustainable family wealth? Your health care costs. Yes, the government plans cover many medical expenses, but according to Canadian Life and Health Insurance Association (CLHIA) it probably won't…