Hetty’s $100,000,0000 Fortune
Have you heard of the “Witch of Wall Street?” This is her picture: This is a picture of Hetty Green, who was the richest woman in the world. When she passed away in 1916, she left $100,000,000 to her two children. In today’s dollars, this would be around $2 billion. The crazy part is Hetty…
How to Retire at 35
Back in 1988, Paul Terhorst wrote a book titled, “Cashing In On The American Dream – How to Retire At 35.” Paul was a partner at a large public accounting firm and decided to retire at the age of 35. When he retired, he only had a net worth of around $500,000. As I write…
The Marshmallow Test
Back in the 1960s a study at Stanford University was completed with preschoolers. This study is now referred to as the “Marshmallow Test.” They presented the preschool children with two choices: ONE marshmallow they could eat immediately OR TWO marshmallows if they waited alone for 20 minutes Years after this study the research team…
What you measure improves
One of the businesses I used to own was a Fit Body Bootcamp franchise. Our goal in the business was to help our members lose body fat and get in the best shape of their lives. We had a lot of success with this goal and it was incredible to witness these physical transformations. To…
Which is a better investment – the Stock Market or Real Estate?
Over the winter months, I found the 3 bedroom single-family home pictured in this article for sale in Willoughby. It was a foreclosure that was in good shape. I mentioned it to one of my clients, but he said he preferred the Wickliffe area and passed on it. So I decided to make an offer…
How 10 Average Folks Became Mulitimillionaires
One of my favorite things to do is ready about average people who build significant wealth during their lifetimes. For some reason, these real life case studies resonate with me. They show the true power of investing and the real magic of compound interest. We typically only hear about the mega billionaires and how they…
99.1% of Buffett’s Wealth Came After His 53rd Birthday
Last year, I read an article on Business Insider that indicated that 99% of Buffett’s wealth came after his 50th birthday. I have thought about this several times since reading the article and decided to look into it a little further myself. According to a recent Google search, Buffett’s net worth is currently estimated at…
Warren Buffett’s Pinball Machines
In Warren Buffett’s biography titled “The Snowball,” I found an interesting story from when he was seventeen. He read about an idea of buying a used pinball machine and using the income generated by the first machine to buy additional used pinball machines. So Warren bought a used pinball machine for $25 and went into…
How to Profit When The Stock Market Crashes
Many of us have been through various “market” crashes in our lives. Recent market crashes we’ve experienced would be the tech bubble in 2000 and the real estate and stock market crashes of 2008. Each market crash provides two very important opportunities: 1. Opportunities to learn 2. Opportunities to maximize wealth I, like many others,…
Triple Compounding
On this site, I often highlight the magic of compound interest. Compounding occurs when your money makes more money for you. Your money goes to work to bring back more money for you and your family. Well, once you truly grasp the magical power of compounding, you’ll probably start to look for ways to maximize…