When I was a kid back in the 1980s and 1990s, I remember watching “Lifestyles of the Rich and Famous.” That show is how I generated my first impression of how all millionaires live. Robin Leach, the host, employed his fancy British accent to lend an extra layer of gilding to every mansion, yacht and luxury car featured in each episode. “Wow, so that’s how rich people live!” I thought.
owning a business
What happens to your investments and savings when you’re facing a catastrophic event beyond your control? This could be in the form of an economic downturn, medical emergency, or job loss or other career-related event. How do you survive and protect yourself during this situation? This post is in response to a reader question we received recently.
If you’re buying a business — one that would represent your primary occupation — you’d probably do an FBI number on that business to find out all you can about it, before sinking any of your hard earned money into it, wouldn’t you? That makes perfect sense. So why do people pay so much less attention to companies they’re investing money into, in the form of stocks and bonds?
While I love being self-employed and working from home, there are some challenges associated with not working for “the man.” For most entrepreneurs, the main challenges have to do with the lack of benefits.
I see all of these financial blogs focusing on their net worth progress. My question is, do I care? Not do I care about what is their net worth, but do I care about monitoring my net worth? It’s kinda neat being a voyeur, watching people discuss their net worth to the world, and maybe that’s the fascination. It’s what the general public and media focus on. I think they are focusing on the wrong goal.