Owning a home is a major contributor to building your net worth. In fact, the median homeowner's net worth is 46x the median renter's net worth. While owning a home is crucial, you need to make sure you don't pay too much and end up house poor. What is House Poor? A person is house poor when they spend a large portion of their income on home ownership. This includes … [Read more...] about What is House Poor & How You Can Avoid It
Net Worth Formula From The Millionaire Next Door
People often wonder what their net worth should be. Some compare themselves to the average, while others have a magic number in their head. Once they hit that number, they know they are financially set. The best net worth formula is courtesy of the Millionaire Next Door. The Millionaire Next Door is a groundbreaking book which revealed that the pop culture view of … [Read more...] about Net Worth Formula From The Millionaire Next Door
Average Net Worth by Age – Where Do You Rank?
When it comes to your average net worth by age, everything is relative. Keeping track on your net worth will help you achieve financial freedom, and knowing where you rank will help you see how you're tracking for retirement. Below are the average net worth by age according to the Federal Reserve Consumer Finance Survey 2016: Under 35: $76k 35 - 44: $289k … [Read more...] about Average Net Worth by Age – Where Do You Rank?
Warren Buffett – The Best Investment To Make
Warren Buffett has never been a fan of the investment fees that hedge funds charge. In 2007, he made a $1 million against any hedge funds an S&P 500 index fund would outperform their fund selection over 10 years after fees. Protégé Partners was the only hedge fund who took on the bet, and the S&P 500 beat them decisively. Warren Buffett's S&P 500 investment fund … [Read more...] about Warren Buffett – The Best Investment To Make
What’s a 401k Rollover – Should You Rollover Your 401k?
When you change jobs or retire, you have some options to consider for your 401k. You can transfer your 401k into an IRA, leave the money in the 401k, or cash it out. Transferring to an IRA is known as a 401k rollover, and is generally your best option. We'll discuss what a 401k rollover would do for your retirement, and discuss whether it will be the best option for … [Read more...] about What’s a 401k Rollover – Should You Rollover Your 401k?