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Rich vs Wealthy: Why Being Wealthy is More Important

March 22, 2020 By Kevin | Just Start Investing Leave a Comment

Most people wouldn’t question the difference between being rich vs wealthy.

But, they are different.

Saying that being rich and wealthy are the same is like saying a credit card and debit card are the same, or that there is no difference between an index fund and mutual fund.

They’re similar to each other, but they have distinct differences that are important to understand.

Credit cards reward you for making purchases with points, cash back, and other perks. Debit cards do not.

Index funds allow you to invest in diversified portfolios for a very low cost. Mutual funds usually charge high fees.

Being rich involves…

…well, let’s just dive into it:

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MyFedLoan: A Guide to This Student Loan Payment Platform

March 18, 2020 By Ryan Luke @ Arrest Your Debt Leave a Comment

It should be no surprise to anyone that consumer and student loan debt in the United States is at an all-time high. Several studies put student loan debt in the United States at $1.6 trillion! A recent article in Forbes says that the average debt per student stands at $32,731. Students everywhere are looking for relief. Many students use programs from MyFedLoan to get that relief.

MyFedLoan is an online platform used for student loan repayment.

It’s the largest service students use to repay their federal student loans. The program itself goes by the name FedLoan Servicing, but its online portal is myfedloan.org. This article will give a complete overview of the MyFedLoan program as it stands in 2020.

This post was written in partnership with Ryan Luke from Arrest Your Debt and The Money Mix.

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What is Geoarbitrage: How to Hack Your Location

March 15, 2020 By Kevin | Just Start Investing Leave a Comment

Geoarbitrage is a fancy word with a simple meaning. In a nutshell, it involves moving in order to lower your cost of living.

The term was made popular by Tim Ferriss, the guy behind The Four Hour Work Week and the creator of the well-known podcast called The Tim Ferriss Show. He discussed geoarbitrage in his book The Four Hour Work Week as one of the many strategies to help you optimize your life.

Geoarbitrage can help you save money, grow your net worth, reach FIRE (financial independence retire early) faster, and potentially increase your overall happiness.

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How to Invest in Real Estate Without Buying Physical Property

March 11, 2020 By Andrew from Wealthy Nickel Leave a Comment

How do most people accumulate wealth? They invest in real estate. It is a proven way to build wealth, and 90% of millionaires became so through owning real estate.

So said famous industrialist (and billionaire) Andrew Carnegie. Yet only 15% of Americans invest in real estate, according to a 2017 study.

As a real estate investor myself, I can attest to its wealth-building power. Whenever the subject comes up in conversation, almost everyone says they have thought about investing in real estate. So why is it less than 1 in 7 have done it?

Many people think it is too complicated, or would require too much time or money to get started. And maybe that was true 20 years ago.

But today, there are so many different ways to invest in real estate (without even buying property) that there is room for almost everyone to be a real estate investor in some fashion.

This post was written in partnership with Andrew from The Wealthy Nickel and The Money Mix.

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Liquid Net Worth: What it is and How to Calculate Yours

March 8, 2020 By Kevin | Just Start Investing 2 Comments

Everyone seems to love the gossip surrounding the net worth of celebrities, business people, and athletes. Though, there is a difference between regular net worth and the lesser-known liquid net worth, which is what we’ll get into today.

Jeff Bezos is worth about $116 billion right now in terms of net worth, but does that mean he could go out and purchase 116 billion dollars worth of mansions, yachts, jets, and whatever else rich people buy?

No.

While his net worth is $116 billion, his liquid net worth is a much smaller number.

Calculating liquid net worth is complicated for Jeff because of the huge amount of Amazon stock in his portfolio. This stock gives him a high net worth, but since it is challenging to sell such a large chunk of stock at one time, his liquid net worth suffers (poor Jeff…).

For the rest of us non-billionaires, it’s a little more straightforward, and a very important personal finance metric to understand.

[Read more…]

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