We live in a world of consumption, where people seek immediate gratification with the latest and greatest gadgets and products as soon as they hit the shelves. Think about Apple and the ridiculously long line of people who queue for their updated iPhones! When it comes to money management and becoming rich, though, patience and…
When you change the Lens through which you view the world, your view of the world changes, forever. The Lens I’m referring to = your Assumptions, Beliefs, and Ideologies. When a new, unknown Truth comes along, it forever changes how you and everyone else see things. And once that happens, you will never see things…
For the next few minutes, I want you to focus on the most successful person you know (and yes, it may be you). What makes this individual successful in your mind? Professional accomplishments? Personal wealth? Now, I want you to think of the happiest person you know. Did you come up with the same name?…
Being rich is really about two things. In my Rich Habits Study, I interviewed 233 wealthy individuals (177 of whom were self-made millionaires) with at least $160,000 in annual gross income and $3.2 million in net assets. I found that becoming and staying rich tends to come from two actions: Accumulating wealth Keeping the wealth you’ve…
Nassim Nicholas Taleb became famous for his book The Black Swan which taught us to look out for the unexpected X-Factor. He also wrote The Bed of Procrustes, a collection of hundreds of “philosophical and practical aphorisms” – pithy one-line quotes full of meaning and importance. I’ve selected a number of these that struck me…
Australians are getting richer, despite rising interest rates and inflation. The ABS tells us the average net worth for all Australian households in 2019–20 was $1.04 million. Much of this wealth can be attributed to our Baby Boomers, who reaped the rewards of the significant property boom we experienced a few years ago and long-term…
When things don’t go as planned, most people quit the struggle and move on to greener (meaning – easier) pastures. And the world is filled with quitters. Without pursuing success, life is a struggle. Even for the vast majority who are content with just coasting along, life is still filled with problems. Most people want…
What do you do with unwanted Christmas gifts? Well, according to new research from Compare the Market, a surprisingly high number of Aussies don’t keep the gifts they receive over the festive period. In fact, 1 in 5 Aussies admit to regifting duplicate presents or gifts they don’t like at Christmas. Around 16% of respondents who…
Ever had one of those days when you roll out of bed the wrong way and nothing seems to go right from that point on? We all have. Getting a jump on the day, and starting it in the right way, can make all the difference between a productive workday and one you spend in…
The transition away from active funds management towards passive management is gaining more momentum with each year that passes (for the reasons I discussed in this blog). Given that passive investing is becoming increasingly popular, I thought it was timely to provide an update on the advances that have occurred in this marketplace. Active vs passive…
