Rich Uncle EL Random Facts

Rich Uncle EL Random Facts 4

My Random Facts for your Enjoyment

Happy Saturday my friends. I cannot fathom that this series has grown to 5 posts. Because I struggle with over sharing and with every post that I do share on this topic I feel better about blogging. In the first few months of my blog I thought on one really cares about my story, but in reality people do really care. How do I know this? Because my about page is very popular and these posts have been popular as well. Well enough about why I’m doing this and let’s delve into the facts.

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Can People Avoid Disrespecting Money

Can People Avoid Disrespecting Money

How many singles can you count?

Hey it’s that time again to discuss all the great and fun things about money. For starters never love or obsess about money, but love the freedom and usability money can bring. How can people avoid disrespecting money? Well it’s quite simple and it is basic personal finance mumbo jumbo we have all heard in the past.

I will dig into this topic and reveal all the ways regular folks are disrespecting money everyday. Do you want the best use of in-flow and out-flow for all your income? Well if the answer is yes then you can continue reading because I will instill a few nuggets of wisdom in this blog for all of you. Disrespecting money can happen in many fashions and it is up to you to put a halt to it once and for all. This is not a post about the irresponsible football player who goes bankrupt or about someone making over 200K and still living paycheck to paycheck. It is about simple ways anyone can stop disrespecting money and begin using it for the tool that it really is.

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What is the Best Cash Flow Investment

What is the best cash flow investment

What is Cash Flow?

Have you ever desired to have more cash flow? Well I am on a mission to find out what is the best option for anyone interested in learning about cash flow and learning how to build it. Anyone looking to be financially free and cash flow free must begin finding ways to get multiple streams of income. The cash flow from dividends is a vital piece of the puzzle I believe. I think for the sake of making things easy and for comparison options let’s keep the numbers for all the investing options at 1 grand. The examples below are possible dividend figures for folks looking to increase cash flow.

What is the Best Cash Flow Investment:

1 Thousand Invested Options - 

The Low price company stock option:

GE – 1000 / $26.53 per Share = 37.69 shares X .22 QTR dividend = $8.29 QTRLY (3.32% Yield)

The Mid-Priced Company Stock option:

TGT -1000 / 58.79 per share = 17 shares x .52 QTR dividend = $8.84 QTRLY (3.54% Yield)

The High price company stock with greater future returns option:

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How to Practice Patience

How to practice Patience

Having Patience will help you Avoid Debt.

What’s going on today my friends? The topic today is patience, I feel if you practice patience you can successfully train the mind to do extraordinary things. For example you can become a better person by not letting impulses drive your actions. The number one detriment to people becoming wealthy today is a lack of patience. The Delayed gratification phrase is steadily being played out like a 90s hit song all over the personal finance world, but it is the sad truth many people are faced with because we all want things now.

In this society patience is running thin, and I see the harmful effects of this every day. From the careless drivers who cannot help themselves to look up away from their cell phones, to the guys running up enormous bar tabs to impress girls at a bar. It all boils down to having patience in life. I will share with all of you today how to practice patience and I hope you can see the benefits to why you would want to practice being more patient in life. How to practice patience examples listed below:

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The Richest Man in the World

the richest man in the world

This Guy is Retired and still is the Richest Man in the World.

Did you know that the richest man in the world according to Forbes is Bill Gates? If you by happen chance do not know who he is, Bill Gates is the founder of Microsoft Inc. He basically has about 78 billion dollars as of July 2014. Half of that money is in Microsoft shares, and the kicker is he has been retired from Microsoft since 2008. (Since then he has been on the board) Now why in the heck is somebody who is retired still the reigning champ of wealth? Maybe it is the 6% in ownership of the total Microsoft Stock or maybe he has millions coming in from the books he authored. I decided to write this because I am confused as to how someone who doesn’t make a salary is still worth more than Buffett or Carlos Slim, which both are still employed in their respective companies?   If you can solve this puzzle then you maybe can succeed to grow wealth and never lose it in retirement.

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The 10 Personal Finance Mistakes

 

The 10 Personal Finance Mistakes

Remember your Money Mistakes to help Grow Wealth.

Do you have a list of mistakes you just keep repeating? Did you know if you write them down in a journal to jolt your memory that you probably might not make those mistakes again?  Well I’m going to share with you the 10 personal finance mistakes I’ve made in life and I am vowing that I never make them again. Learn from your personal finance mistakes to become Wealthy.

The 10 Personal Finance Mistakes:

  1. Take out a Loan – Student, Car, or Credit Card
  2. Spend More than I Earn
  3. Speak to or do business with a Whole Life Insurance Salesperson
  4. Attend a Timeshare presentation. – They pressure you the entire vacation until you buy. (Not Worth IT)
  5. Use emergency funds to take a vacation. – Going to the Beach is not an Emergency.
  6. Lend money. If I can afford it I will just give away a little bit of my income.
  7. Buy a Vacation Package; it’s never a good idea to prepay for future vacations. (Sham)
  8. Be Content with only 1 stream of income. (Build 3 or more if you can)
  9. Never Skip a year investing into my Roth IRA.
  10. Make the assumption that keeping all your income is best, No re-investing some of it into a business at times is a better option.

I hope you can learn from my dumb mistakes. (Dooh like Homer Simpson) I want to share as much as possible to help you avoid these money mistakes with personal finance. It takes a real leader to want only the best for others in their circle. Personal finance mistakes can lead to a learning opportunity for many, but if you read this post and still make the mistake, that is an even bigger mistake. The primary mistake and why its number 1 is debt so please if you take away anything from this post eliminate debt.

Do you remember in back to the future part 2, when Biff steals the sports book from the past to become a millionaire in the future? I think you can do the same thing with this list, keep it handy and if you are ever in any situation involving the 10 personal finance mistakes, you will be more prepared to forgo the mistake. Life is never perfect, but never settle for anything less than perfection.- Rich Uncle EL 

Short cuts in life do not exist. It takes great effort and learning from the past to begin to change the future. From my experience I am always learning and my Net worth has grown because I am more aware of my money behaviors. If you can grasp this concept I believe anyone can avoid mistakes and win with money.

Comment on the 10 personal finance mistakes you avoided in the past.

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I Rich Uncle EL VOW to never commit these personal finance mistakes!

Rich Uncle EL

Happy Independence Day

Happy Independence Day

Enjoy your Vacation!

Happy 4th of July my friends! What will you do this fun weekend? Maybe you will hit the beach, go to a BBQ, or just hang out at the local park to watch some fire works? I hope to do at least 2 of the fun activities above this weekend. July is always a very busy and fun month, because of that July feels like it just flies by.  Do you have a preferred spot to watch some cool fireworks? (Share it below) If I could say one thing it is listed below:

Happy Independence Day!

It takes great planning and effort to have great experiences, and July 4th has always been a very fun filled time for my family. I want to share a cool story with all of you today, about Two years ago on this day, I was driving my family to go see fireworks near the river. On route we had to change the plans because traffic was horrendous. Here in the North East it is a constant annoyance. I offered a suggestion to the Misses, that we stop and eat at a cool diner in the area, she agreed as it was a great idea given the situation. After we enjoyed the meal we begin to walk out of the diner, and guess what. Fireworks began to sound off right in front of the diner establishment. The kids all began to smile as they witness the sounds and colors of what July 4th symbolizes. It was a perfect ending to a great day. I hope to never forget these great experiences as it is what life is all about. I hope you can get out and enjoy the day as well with all your loved ones.

Do you have a fun story to share about Independence Day?

Rich Uncle EL