Are you dreaming about a financially independent (aka “findependent”) life free of debt?
What do you mean by “Financial Independence?” Before you start working towards achieving “Findependence,” ask yourself: What does this mean to you? Do you dream of a life in which you can spend your time as you want? Does it mean a rich and varied lifestyle you wish to have? In short, you need a vision, depending on which you can plan your action.
Here are seven tips to achieve a financially independent life:
“And you will know the truth, and the truth will set you free.” — John 8:32
As I begin my 32nd year in and around the financial arena and soon shall celebrate my 59th entrance onto the stage of one of the magnificent creations of the Master of the Universe, this former Wall Street Whiz Kid (who doesn’t deserve to be called a whiz kid after making and losing millions more than once) has never been more concerned about the economic, social, political and spiritual state of the U.S.A.
While it was nice to receive accolades over the years for forecasting many major tops and bottoms in several different markets, I thankfully concluded no one except Almighty God knows the future and portraying oneself as some soothsayer is an insult to Him and mankind. (Not being able to hit the side of the barn in the last few years as a Soothsayer had something to do with it, also.)
So my comments here are that of just a private citizen, speaking aloud and still caring about this thing called the human race.
My first boss and the man who gave me my start as a stockbroker back in April 1984, said to me on my first day in the office (I think only half in jest), “Peter, don’t do three things if you want to be successful in this business. Don’t talk about politics, religion and other men’s wives.”
While I still believe he was joking about wives, he was deadly serious about politics and religion. The underlying theme of his message was, “sell products, not personal opinions.” Continue Reading…
Feeling overwhelmed? Everywhere I look, long-time couples are falling apart.
So I entirely sympathize with single parents who feel overwhelmed both financially and emotionally by the twin burdens of raising kids alone and of still having to bring in money, not to mention re-entering the dating scene.
If you’re in this situation, a good place to look for support is Emma Johnson’s Wealthy Single Mommyblog, which I discovered right here under the Hub’s Best Blogs tag, flagged as one of five “Best-kept secret personal finance blogs.”
No question living off just one income can be tough in the modern world. It wasn’t always that way, of course. Back in the Leave it to Beaver world of the 1950s, it was normal for one partner (usually the man back then) to bring home the bacon in the corporate world while the other played the role of Homemaker and raised the kids.
But those days are gone: it’s almost normal to have two salaries, which is why Continue Reading…
Here’s an interesting development in the general field of discount brokers, ETF makers and robo advisers.
Last November, Questrade Wealth Management Inc. (QWM, a subsidiary off Questrade Financial Group Inc.) launched an “online wealth management” service called Portfolio IQ that bears a strong resemblance to so-called “robo” advisers.
A fact sheet bearing the slogan “Wealth Management isn’t just for the Wealthy anymore” described Portfolio IQ as “an online wealth management service” delivering professionally and actively managed portfolios at an ultra-low cost. It promised customized portfolios for those with as little as $2,000.