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How to Become a Millionaire

A Wealth of Common Sense

The top 10% controls more than 70% of the total wealth in this country as of year-end 2022.1 The good news is, there are those outside of the top 10% who are catching up. Based on the latest estimates from the Federal Reserve there are around 16 million American households with a net worth of $1 million or more. That’s up from f.

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How To Become A Less-Stressed Millionaire

Gen Y Planning

Luckily, we have compiled various tips from self-reported “less-stressed” millionaires to help you. What Makes A Millionaire? Queue Regis Philbin – “who wants to be a millionaire”? In the US, a “millionaire” is someone with a net worth of $1 million or more. How Financially Stressed Are Millionaires?

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Personal finance links: memories and feelings

Abnormal Returns

tonyisola.com) Can a typical person become a millionaire? (peterlazaroff.com) Dan Haylett talks with Jonathan Clements about the 'second childhood' of retirement. humansvsretirement.com) Influencers Dave Ramsey doesn't think you should have a car payment. jalopnik.com) Another example of 'do as say, not as do' influencers.

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Adviser links: reducing portfolio volatility

Abnormal Returns

riabiz.com) Banks want to become advisers. Advisers want to become banks. observer.com) 401(k) millionaires on average have very high savings rates. (investmentnews.com) The biz Goldman Sachs ($GS) is expected to sell the former United Capital business. wsj.com) There is a racial gap in estate planning. crr.bc.edu)

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Personal finance links: blending theory and psychology

Abnormal Returns

monevator.com) As equity compensation becomes more important, it makes sense to learn how they work. wsj.com) What to read instead of "Rich Dad, Poor Dad" or "The Millionaire Next Door." Retirement Dror Poleg, "Telling people you're retired gives you a legitimate, socially-acceptable identity. Saying you're unemployed doesn't."

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The Difference Between Market Timing & Risk Management

A Wealth of Common Sense

Nick Maggiulli joined me again on the show this week to discuss questions relating to giving financial advice to family members, the rent vs. buy decision, how hard it is to become a millionaire and how to diversify your portfolio as you age.

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Who Wants to Be a Billionaire?

A Wealth of Common Sense

Scott Galloway once said, “It’s never been easier to become a billionaire, or harder to become a millionaire.” ” I’m not sure I agree but it does seem like more people want to become a billionaire these days. I honestly don’t think it’s worth it.

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