Tag: Money

Making Money Off of Arbitrage Opportunities

Arbitrage is when you take advantage of price differences between two or more assets, and then profiting until the price difference disappears. Recognizing when and where to take advantage of these kinks will be one of the greatest catalysts towards financial freedom. For example, I realized a few months ago

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The Abundance vs. Poverty Mindset

I had previously written a post about being poor. A few years of working in finance, saving money, and building multiple side businesses, I hope to hit the $1 million net worth goal by the age of 30. This isn’t necessarily rich, but I should have a higher net worth

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I’m Not Poor Anymore, and It’s Weird

I started off life just below the middle class. My dad worked as a line cook and my mother a secretary. When both my parents lost their jobs, the legs that held us in the middle class went wobbly. We went from having a two bedroom house to being homeless

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The 10 Rules to Financial Independence

I believe 30 is a big milestone. Ever since I was at university, I told myself, either I was going to make it, absolutely kill it, or be a failure by the age of 30. Two painful years of working 90+ hours a week in investment banking put me into

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How the Next Recession Will Impact Millennials

Recessions are never a good time for anyone. A stagnant economy means financial, emotional, and physical-health consequences for everyone, from Baby boomers to Gen Z. However, the next recession stands to hit Millennials particularly hard. Millennials were bloodied in the last downturn, struggled in the recovery, and are now left

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How to Pay of $8,000 of Credit Card Debt in 4 Months

The worst type of debt is consumer debt. If you keep a revolving balance on your credit card, you will likely stay poor forever because of the egregiously high interest rates. When I started my career in 2015, I bought things that I really did not need: a leather jacket

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Increase Your Earning Potential by 50% with This One Skill

Growing up, investor Warren Buffett was terrified of public speaking. As a result, he decided to sign-up for a Dale Carnegie speaking course while attending Columbia for his MBA. He realized he would never make the type of impact that he wanted to if he did not improve his communication

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Buying a Home Before the 2020 Recession

I have an offer on my apartment in Chicago. On the one hand, I was pumped when someone was willing to pay 20% more than what I bought it for in 2015. On the other hand, my goal was to raise a family there with my future spouse. But the

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Reach Your 2020 Financial Goals with This Bucket List

I recently wrote an article about effectively following through on your New Year’s resolutions. If you want to make long-lasting and meaningful changes in 2020, start with your financial bucket list. Just like learning a new language or losing weight, a financial bucket list should contain lofty, yet attainable goals.

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How to Follow Through on Your 2020 New Year’s Resolutions

Every time January 1st comes around, millions of people set New Year’s Resolutions. However, by the time February begins, ½ of them have abandoned every single one. By March, the number is 80%. If 80% of people cannot stick with it for two months, something must be wrong with the

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Why is Real Estate Such a Good Investment?

Real estate investing (unlike many other investments) has four levers to make you money: appreciation, cash flow, debt pay down, and its tax benefits. Let’s dive into each of the return levers: 1.  Appreciation Appreciation is how much the property value increases over time. 1. According to Case-Shiller Home Index,

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Ways to Use Debt to Build Wealth

First of all, debt is a tool of financial management. It adds financial risk because of interest and principal payments you make to the lender. However, not all debt is harmful. Sometimes, it can improve your financial situation. A simple litmus test can be applied to whether you should take

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How I Lost $30,000 Trading and What I Learned

I started trading stocks in January 2017 using Robin Hood. Over the next 3 months, I made 20% ROI and lost it all in a week. Then I gained 30% on 10 trades the following month. Over the next year, I lost and gained thousands of dollars, changed the entire

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8 Lessons I Learned Making $100,000 Online

I recently passed the $50,000-a-year earnings mark for online earnings, and I now make about $6,000 online every month. I do not like to talk about money, but I find throwing out figures like $6,000 per month piques interest rather quickly. Below are the nine steps that got me there:

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