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…
Getting water to the village
Many years ago, I remember reading a story about a small village in Robert Kiyosaki’s book, “The Cashflow Quandrant.” In the story, the small village didn’t have water so they hired two different people to bring clean water into the village on a consistent basis. The first person purchased two large buckets and would hike…
I was dying
First I was dying to finish high school and start college. And then I was dying to finish college and start working. And then I was dying to marry and have children. And then I was dying for my children to grow old enough for school so I could return to work. And then I…
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…
Lessons from My Mentor’s Divorce
Many years ago, one of mentors told me a story about his divorce. Don’t worry, this isn’t the typical “ugly” divorce story and the story does have a happy ending. As you’ll see, this is actually an investing lesson wrapped. This particular mentor was a multimillionaire. He didn’t have an easy life and actually had…
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…
9 Things That Cause Misery
We all want to live a good life. A big part of living a good life is learning to avoid self-inflicted misery. Misery is defined as a cause or source of great distress or discomfort. Oddly enough, we make numerous choices in our lives that cause both short-term and long-term misery. In other words, we…
The Dollar
Many years ago, I read an article about Jamey Johnson in Men’s Journal. Because he seemed like a cool dude, I decided to look into him. This was a little odd for me, because Johnson is a county music star and I wasn’t a fan of country music. Through Johnson, I ended up learning to…
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,…