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Wealth Building
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Putting Money Into RRSPs & Paying Extra On Your Mortgage Will Not Make You Rich
Have you ever wondered if you're on the right path?
With the insights you are about to gain, I hope you will choose not to always follow the crowd (and accepted wisdom), but to find the best path for your journey towards financial independence.
For the first step on that journey, let's take a look at the two places most Canadians accumulate the most money:
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Interview on CNBC with Warren Buffet
There was a one hour interview on CNBC with Warren Buffet, the second
richest man who has donated $31 billion to charity. Here are some very
interesting aspects of his life:
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Do You know the Rule of 72?
Discover how you can earn interest on your interest. Find out more about a Financial Needs Analysis!
How long it will take for your money to double is easy to calculate using the Rule of 72. Simply divide 72 by the percentage of interest you earn on your savings. If you're not pleased with the answer, start investigating other options that pay a higher rate of return.
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Asset Management 101
When one is interested in knowing how asset management works o benefit their companies, it is very important to get to know how asset management really works. This includes the services that asset management employs to handle assets, the costs of utilizing asset management services, the available software designed to manage assets, even t the qualifications of certified asset management advisors.
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The Truth About Wealth
The final truth about wealth is that the transference is NOT reserved, limited, or unavailable, for anyone who has made a firm decision to take the 1) time to understand, and 2) the chance to allow a sound plan runs its course.
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Building Wealth
Many people I know talk about how they want to make more money, how they have all of these ideas for doing so, and how they want to make sure they can retire early, but I never see them doing anything about it. They do have some good ideas for building wealth, but they don’t have any money. This is because there is a huge difference between wanting to make a lot of money and actually doing it. As I get older I realize that money is out there to be made, but you have to really want to do it. If you have the drive, there should be nothing stopping you from getting what you want.
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Passive Income -The Focus of the Wealthy
Passive income is the key to becoming financially independent. Converting earned income into passive or portfolio income is called investing and is the key to becoming wealthy.
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How to be Financially Free
Your current income is probably classified as earned. If you have only limited savings and no investments in assets on which you can earn income you are not familiar with passive or portfolio income. OK - your primary goal then is to obtain or increase your asset base in order to start earning more passive income. Eventually you will move to a time when all your income is coming from passive sources. But how?
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Weak Dollar Looming
Economic warnings and considerations in personal wealth building. Capital preservation tactics that can help in a dollar decline.
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