At Leading Edge, one of our primary goals is to help clients build and maintain wealth. Today, we’re sharing an article filled with the “secrets” you need to know to achieve your financial goals.
19 SECRETS YOUR MILLIONAIRE NEIGHBOR WON’T TELL YOU
A few years ago, Len Penzo wrote an article listing the 19 Secrets Your Millionaire Neighbor Won’t Tell You. Don’t think you have a millionaire next door? You might be surprised. As of 2018, “More than 10.2 million households had a net worth of $1 million to $5 million, not including the value of their primary residence, according to a survey by the Spectrem Group.*
The secrets are actually a timeless and simple strategy of planning and discipline. Here is a summary of the first few ‘secrets’ in Len’s article:
1. Always spends less than you earn.
2. Patience is a virtue. It takes time to build wealth.
3. Live modestly. Giant homes, luxury cars, and fancy coffee will all significantly disrupt your wealth building potential.
4. Pay your credit cards in full every month. Don’t buy what you can’t afford.
5. Money does not buy happiness. Managing your money well provides happiness and financial freedom.
6. Being debt free is the main source of financial freedom.
7. Work hard and stay busy.
8. Money does not manage itself; you must actively cultivate a money management system.
9. Pay yourself first.
10. … Click here to read the full article.
*www.bloomberg.com, “The US Now Has More Millionaires Than Sweden Has People”, By Alexandre Tanzi, M
Pilots are at higher risk of needing disability insurance due to the stringent health standards required by the FAA. That is why it’s incredibly important you understand what insurance options are available to you and how they will work to protect you. BUT we know that disability insurance can be super confusing. Most of us get overwhelmed trying to figure it out and simply throw our hands up. In this video, Charlie and Ben trying to simplify all of the moving parts and give you a breakdown of the various disability options; short-term, long-term, loss of license and how they work in conjunction with your sick pay. Additionally, they discuss how your benefits may be affected if you have a secondary income.
When people want to protect important papers like their wills and trust documents, or valuables like rare coins or precious jewelry, they understand that it’s not generally wise to keep them laying around the house. Much better—so goes the conventional wisdom—to put those items in one of the 25 million safe deposit boxes at local bank branch offices around the U.S. There, they’ll be protected by a foot-thick steel door and a system with two keys, one kept by the customer, one by the bank… Alas, it appears that safe deposit boxes are not quite as safe as they appear.
GQ recently published an article saying there are signs of a looming recession and it is time to pay attention. We agree! So, what should you do to prepare? Using modern portfolio theory, Kevin explains how mixing asset classes can lower volatility – specifically bonds.