Hank, I just got a raise at work from $35,000AUD to $42,000AUD – what is that percentage of increase, more so, how do I calculate it? - Gerald from Perth

Hey Gerald – good question, people wonder that more than you think. So the way to calculate a percent increase between two numbers:

1. Take the difference between two numbers (this can be a subtracted either way because the number will just be a negative) $42,000 – $35,000 = $7,000
2. Take the difference ($7,000) and divide by the original number: $7,000/$35,000 = 0.20
3. Finally, multiply the number above by 100. (0.20*100 = 20%)

You’ve gotten a 20% raise! Which is far better than the standard “cost of living increase” of about 3.1%! Nice job!

(Thanks to OnFinancialSuccess for the typo fix resolve.  )

Related posts:

1. How Do You Calculate Net Worth?
2. Why Is It So Taboo To Talk About Salary And Compensation?
3. What Is The Difference Between A Taxable And A Non-taxable Investment Account?

Only 0 days 5 hours 2 minutes left until Hanks Holiday Handout drawing!

To make my goal of having my net worth be $1,000,000USD by 2020 I need to have a plan laid out. Yes it will change through the years, My wife and I will get raises; we won’t get the return we’re shooting for with investments in some of the years, but as a base goal if we take our current principal of $75,000 and continue to invest $21,500 per year for the next 13 and that will put us just over the 1MIL mark. That first MIL is the hardest, Pinyo lays it out here.

Where do I find $21,500 per year to invest? We’re currently contributing 10% of each our salaries for about $16,000 per year to our 401k plans, then add in $4,000 each for our ROTH IRA accounts and we’re well over the limit there. We’re planning on bumps in the road, so that’s why I’m giving the $21,500 number. There are a lot of calculations that need to taken into account, but that is the same with any investment plan. At 10% return with those calculations we’re looking at just under 840k, and at 12% that puts us over the 1MIL mark.

We could have a year where we can’t pay contributions to either our 401k or ROTH, but on the same note, there could be years where we’d contribute MORE to those accounts, For instance, we’re planning on trying to bump the 401k contributions up to 15% in 2008 and that would be $24,000 in itself; add in the ROTH IRA contributions and we’re looking at $32,000 invested per year and in 13 years, that will be worth 1.33MIL.

Numbers are numbers – sticking to the path of just getting money in is the key. In 13 years I’ll still be nowhere near retirement, but the first million is always the hardest to make, after that, it is quite ridiculous how fast it grows. In 35 years on this same $21,500 per year at 10% return we’re looking at 8.5MIL. Which is dreaming, and a lot can happen in 35 years, but there is no time like the present to start planning on it!

Time, as usual, is the key piece of this financial pie; variables are always tossed in to make it interesting. As long as we’re putting in the $21,500 we’ll be on a good pace. I’m sure there will be other investment opportunities, more job promotions, more raises, maybe more kids, but staying on this basic path is the key to our specific financial goal. What’s your path?

Related posts:

1. How Much Should I Save Per Paycheck To Reach My Retirement Goals?
2. Networth update January 1, 2008 (+2.02%)
3. Monthly Net Worth Update March 2008 (+2.42%)

Good Morning Hank,
I was reading this article from Morningstar and they said in it: “Mutual funds are required by law to pass along any income and capital gains they’ve earned throughout the year. These distributions typically take place near year end, and they can cause a tax headache if you’re not careful. (Dividend income and long-term capital gains are taxed at a 15% rate, while bond income and short-term capital gains are taxed at your highest marginal tax rate.”
Everyone talks about their ‘taxable or non-taxable’ accounts and the tax efficiency. What’s the difference? How do I know? Is my 401k taxable? -Amanda from Nashville

Hello Amanda,

Nice question, but it is a bit trickier than that. All accounts are “taxable” to an extent. Your 401k WILL be taxed when you take it out; so to that extend, yes, it is taxable. But as far as your YEARLY taxes are concerned, you can put whatever you’d like (or have the option to like as per your company retirement plan) in that account through your company without tax consequence. It is growing tax deffered, so it would be considered a NON-taxable account as far as yearly taxes are concerned.

The best way to simplify it is to think taxable (brokerage account) vs. NON-taxable (retirement accounts). Your IRA and 401k plans grow without Uncle Sam dipping his paws in. In the case of the ROTH IRA, Sam already dipped as you’re using after tax dollars to fund it (but you get to take it out without Uncle Sams hands either). A regular brokerage account would hold any stocks or funds that were invested outside of your retirement accounts, with after tax money; generally, ANYTHING outside of retirement accounts (401k, 403b, IRAs, etc) are considered taxable. Check out MyMoneyBlog’s post about the efficiency of funds for a better clarification of the funds OUTSIDE your 401k.

in reference to your quote from Morningstar, the mutual fund IS required to pass along incomes they’ve received through the year (dividends) – So if you have that fund in your 401k or ROTH, don’t worry about it; it is likely getting rolled back in the account. However if you have it OUTSIDE your retirement package, just through a brokerage, you’re going to have to pay on those taxes to Uncle Sam. That’s why the article says they can cause a tax headache. Check with your financial advisor if you don’t know if you’re going to get hit with a larger than average tax bill for the funds you’re in OUTSIDE of retirement.

Hope that clears it up a little! Let me know if not!

Related posts:

1. What Is The Difference Between A Savings Account And An MMA (Money Market Account)?
2. What Is A 401k And Why Should I Use It?
3. The Difference Between ROTH And Traditional IRA

Hank – I have a few “target date” mutual funds in my 401k plan from Fidelity. They are:
Fidelity Freedom 2010 FFFCX
Fidelity Freedom 2015 FFVFX
Fidelity Freedom 2020 FFFDX
Fidelity Freedom 2025 FFTWX
Fidelity Freedom 2030 FFFEX
Fidelity Freedom 2035 FFTHX
Fidelity Freedom 2040 FFFFX
What exactly are they, and should I use them? Thanks! – Penelope from Maine

Hey Penelope, thanks for the question, I can help answer that one. Target date funds, or lifecycle funds as their sometimes called are there for the very novice investor. They are a fit for some, but for someone willing to put time in, might not be the best choice -

The point of these funds is to automatically adjust the asset allocation as you approach retirement. For example, the Fidelity Freedom 2030 fund features 80% stocks, 15% bonds, and 5% cash, while the Fidelity Freedom 2010 fund features around 50% stocks, 35% bonds, and 15% cash (which is what will happen to Fidelity Freedom 2030 around 2028).

But the problems with it? Well if Investor “A” is a single, high risk tolerance, millionaire and set to retire in 2020 and Investor “B” is a single father raising 4 kids set to retire in 2020 that needs to be conservative, do you think they have the same tolerance or goals by then? Not likely that they’ll have similar portfolio needs.

Another problem with these funds is that they’re pretty much all LargeCap U.S. based funds. Most invest very little overseas or in the Small and MidCap funds, reducing your exposure.

Or how about if you want to retire in 2043? Not 2040 or 2045, what fund do you choose? Kind of a coin flip and you don’t want your assets being finicky when it is time to hit retirement. Another thing to watch out for is that the funds are generally based on that particular companies OTHER funds. There are 10,000-ish funds out there, but most target date funds stick to their own mutual funds, instead of using index funds.

So Penelope, basically if you’re looking for a “set it and forget it” type of fund that you don’t have to worry about, they’re not bad. You’re at least in the market and they’ll likely turn a profit. However, if you’re willing to spend some time on your retirement, I’d try to find better funds in your 401k.

Related posts:

1. Should I Buy a Loaded Mutual Fund?
2. What Is An Expense Ratio And How Does It Factor In On A Mutual Fund?
3. What Is A 12-b-1 Fee And Is It Included In An Expense Ratio Of a Mutual Fund?

Sorry I’m behind on a few of the readers requests, it has been a busy month for sure! But this was a fairly straight forward answer to Ben.

Hi Hank – You have posted a few times about the high yield savings and Money Market Accounts – sorry to sound like a noobie, but what is the difference between a Money Market Account (MMA) and a savings account? – Ben from Iowa

Hey Ben – Money Market Accounts (MMA) and a savings accounts are both just products that a bank offers, like a store offers carrots and peas. The accounts are deposit accounts held with a financial institution. FDIC or NCUSIF insured deposits are backed by the full faith and credit of the United States government.

The difference between the two types of accounts is that withdrawals from a Money Market Account may be limited to “x” per month. Check with your MMA issuer for this exact number, but it usually falls at 6 per month. Whereas, on the other hand, savings accounts typically do not limit the number of withdrawals. That’s the only difference – The next thing would be to check the APY of the account you’d be opening.

Related posts:

1. How far has your high yield MMA/Savings account dropped its APY in the last 6 months?
2. There are so many High Yield Savings Account/MMA offers out there, which one is the best?
3. What Is The Difference Between A Taxable And A Non-taxable Investment Account?

Either way I wasn’t very happy with the service he was giving me. He’s a nice guy, but it just seems to me like he is selling me a product instead of investing my money, very similar to my Universal Life Insurance policy I was sold on 5 years ago (of which I have also turned off the faucet, more on that later). But an advisor should be someone that is there to ADVISE you of where your money should go to help for YOUR retirement, not theirs. I am confident enough now to select my own funds and choose my own investing path, but it is nice to have someone to ping questions off if I DO have questions and for second opinions.

The personal finance blog network is one resource, but I like to have the option to ask a question to a certified financial planner if I can as well. It’s advantageous to have as many resources in your investing bullpen to help along the way with any decisions. So I will keep the Edward Jones account open for nothing more than to utilize the resource he’s given me; I won’t close the account because he’s not the one holding the bag for the 5% deferred “ladder approach” to investing, it is the actual fund, NFPBX. The ladder approach the Edward Jones rep refers to is that the 5% deferred load on the fund will decrease each year I stay in it, up until the 5th year, at which time my account will be converted into “A” shares and the load will be gone.

His explanation of the reasoning behind this is that “it will keep me honest in my investing, and force me to invest for my future”. Well, duh, I know I need to stay in for the long haul, but I don’t need to be investing in HIS future, nor the futures of the fund managers. I think they’ll do just fine without me. I also don’t mind keeping the cash in with NFPBX because it IS a decent fund; repeat, DECENT fund. I hate the deferred load, and the expense ratio of 1.48% isn’t in my sub 1.0% range, but it HAS returned 16% this year, and I can’t balk at that. But I think I can find better ways to manage the $.

In comes Charles Schwab – Honestly, it is the infancy stage, and I’m sure there may be bumps along the way. But they’ve been nothing but cordial in my journey thus far. Yea, I know, they want me for my money. If I find they’re not doing me a service, I have no qualms leaving them either; after all, I can open as many ROTH IRAs as I’d like if I really feel like it. But I am very happy so far. The one sticker so far I’m dealing with then is the fact that I’m NOT transferring my current ROTH or cashing it out (for $400 via the 5% deferred load is what I’d have to pay to get out now) so I don’t have any capital or $ to be sending to a ROTH right now, so I’m starting with the payments I PREVIOUSLY had going to Edward Jones of $100.

The payments will now be headed towards my new ROTH with Charles Schwab under one of their funds, SWEGX. SWEGX has been doing alright this year and it’s basically a mutual fund of mutual funds because it’s holdings are smaller funds, also held by Schwab. Morningstar gives it a 5 star rating. It has a 0.80% expense ratio that I like, and is a no-load fund. Finally it’s got a 12.4% rate of return so far this year, which isn’t too bad either. We’ll see how it does over the next few months, but as a starter fund and only have 100$ to start investing with, it is going to do the trick nicely I think.

Welcome to the family SWEGX!

Related posts:

1. My Edward Jones ROTH IRA Account Is Invested Nn B Shares – Is That Good?
2. A conversation with a Charles Schwab associate about funding a ROTH IRA and their options for it. Part 2
3. A conversation with a Charles Schwab associate about funding a ROTH IRA and their options for it. (Part 3)

7. “Investing in Life Insurance” is officially a bad decision. I’ve basically had a savings account with my Universal Life Policy for the past 5 years that I’m CERTAIN could have turned better than 0% over 5 years.  I’m working on canceling the policy and taking the $ out and putting it towards a different investment, more on this to come later…

8. My Edward Jones ROTH IRA has been taking a few extra $ from me by sticking me in “B” shares – I’ve turned off the juice to that account since then. I was just trying to get BACK in the ROTH IRA game after bad investing decision #4 (undercutting my ROTH by taking a loan).

9. I don’t know if ‘d call this a bad decision necessarily, but in the realm of my blog, spending $12,000+ on a month long trip to Australia for my wife and I probably wasn’t the best financial decision, but it was a lot of fun. I wouldn’t recommend it if you’re looking to save money; but we had a few extra $ when we sold our condo in 2005; which leads to bad investment decision #10.

10. Sold my condo after living in it for only 13 months. Capital gains ate up about $10,000 worth of $ I could have put in my pocket. It was small, and we had the second kid on the way so we needed more space, but really we could have stayed there for another year to maximize our profits.

11. Spent $1000-ish dollars on an invention I had in about 2002; I’ll tell you the name of the 2 companies I went through if you contact me. I don’t care to slander them publicly but if you’re truly interested, I’m more than willing to let you know. They’re easy to find, search google for “invention help” and you’re sure to see them both in the top 5. It’s funny, I had a paper route when I was 12 and I can still remember ads during the 4am paper route saying (verbatim, no kidding I still remember this):  “…even if you only have an idea for improving an existing product, and don’t know where to go with it, you’ll want this FREE inventors kit. It shows you how your idea can be packaged and submitted to industry through a databank…” blah blah blah… bad idea.
Here is my one blurb on inventions (well, for now anyway). If you’ve got a good invention idea, BUILD it, make a prototype, write the schematics, do the work, put in the time, don’t tell anyone you can’t trust 100% (THIS INCLUDES THE ONLINE INVENTION “HELP” SITES). Blogging has been able to help out on that front this millenium. There are a few decent Inventor blogs out there nowadays, check out InventorSpot, NewScientist, or InventBlog.

I’m sure there’ll be follies on my way and I’ll be sure to post them here for everyone to take a gander at, but hopefully you don’t fall for the same… Fool me once, shame on me. Fool everyone else that I warned about the traps I’ve fallen in, well, shame on you…

Related posts:

1. Bad Decisions I’ve Made Along My Investing Journey
2. GOOD Decisions I’ve Made On My Investing Journey
3. Should I Use My 401k To Pay Off My Mortgage?

I was considering just leaving this at that, but I figured I’d add a few extra lines to better seal the deal. So in writing My Edward Jones ROTH IRA account is invested in B shares – Is that good? I researched that same question because I was fed up with getting tossed in the “B” share pool, and wanted to get out, but thought (for whatever reason) that I could only have 1 ROTH IRA account open, but no, you can have 10,000,000 ROTH IRA accounts open if you’d like, as long as you don’t go over the $4,000 limit ($5,000 for those over 50) in any given tax year. However, I recommend NOT doing this because with each account, you’ll be buying into a fund for whatever amount your brokerage charges to make a trade, usually between $10 and $50, and that’s really going to eat at the principal, especially if you’re in 10,000,000 accounts.

But under my “bad investing decision #8 now I guess, it makes more sense for me to open another account up, as I won’t be paying the 1st one anymore for transactions, and will have to suck up and choose 2 or 3 stellar ones for the new ROTH…

Related posts:

1. My Edward Jones ROTH IRA Account Is Invested Nn B Shares – Is That Good?
2. A conversation with a Charles Schwab associate about funding a ROTH IRA and their options for it. (Part 3)
3. The Difference Between ROTH And Traditional IRA

1. What is an Self Directed IRA?

A Self Directed IRA is an IRA that allows you to buy or invest in things other than Mutual Funds, Stocks and Bonds. Self Directed also means that the custodian is merely a holding bank account for your retirement funds and you have to “Direct” them to buy or invest in the Asset you want to hold in your retirement account. The “Direction” for the custodian that I use is a several page form that you fill out with all the details of the investment, then I fax or email it to the custodian. It tells them what to do, what to expect, and where to send a check. I think of a Self Directed IRA as “The Do It Yourselfers” retirement account/plan. If you have specific knowledge bout some area that makes money then you can profit from that in your IRA. There is very little that you cannot invest in with IRA funds. See a list below.

2. Who can use a Self Directed IRA?

Anyone can open a Self Directed IRA as long as you have earned income or your spouse does. Basically if you can open an IRA with a bank you can open Self Directed IRA. Business owners can benefit significantly once they realize the potential of this type of IRA or 401K.

3. What is the difference between a SD IRA, a Traditional IRA, and a ROTH IRA?

There is really only 2 choices in IRAs; Roth or Traditional. Either can be Self Directed.

4. Where can I sign up for one?

You open a Self Directed IRA with a custodian that understands what they are. I’ve listed several on my blog here.

5. Why should I use a SD IRA over a ROTH or a Traditional IRA?

You can have either as Self Directed. If you are opening a new account and you’re not yet retired I would say that you should open a Roth account since the growth it creates is tax free on harvest. I have both a Traditional and Roth Self Directed IRA but almost all of my investment activity is done in the ROTH. The reason you want to Self Direct your IRA is so that you can use your specific knowledge to help your retirement account grow instead of relying on others opinions and management skills.

6. How much can I invest in one?

If you already have a Roth or Traditional IRA established at another custodian you can roll it over to a Self Directed custodian. If your opening a new account with a Self Directed Custodian. Right now the IRA says you can contribute 4,000.00 per year. That figure can change as dictated by the IRA and congress. Of course for the Roth type you are also constrained by the Earned Income limits set by the IRS.

7. Can I roll a ROTH or Traditional IRA over to an SDIRA? How about my 401k?

Sure you can roll over either type of IRA into a Self Directed Custodian. It’s very simple and painless.

8. How long have you been investing in SD IRAs?

I’ve been using my Self Directed IRA for investing for the past 4 years.

9. Where did you learn about SD IRAs?

I learned about using an IRA to buy Real Estate from talking with family, friends, and some business contacts that were using theirs to do the same thing. Then I did a lot of research on the internet to determine which custodian I like better and opened an account. I first rolled just a small amount into it so I could do one transaction. Once I got the hang of it and understood how this could significantly help my retirement plan I rolled the rest of the money I could into my account.

10. What CAN’T I invest in with an SD IRA?

There are such things as Prohibited Investments and you need to learn what they are. Here is a short list:
- Artworks
- Rugs
- Antiques
- Metals
- Gems
- Stamps
- Coins
- Alcoholic beverages
- Certain other tangible personal property

But most folks wouldn’t want to invest in these any way. Here is the IRS language about Prohibited Investments in case you want to see everything. You also can’t profit from the IRA meaning you can’t loan yourself money from it or buy a Rental Property and then go live in it, that is considered Self Dealing.

11. I want to invest in real-estate through my SD IRA. How do I go about telling my brokerage account that I’m buying a house with my SD IRA?

This example is just to illustrate of the process there is Due Diligence you need to perform to ensure that the investment is prudent for you. It also assumes that you have the entire purchase price in cash. You first open a Self Directed IRA with a Custodian that understands what that really means.
Not all IRA’s are self Directed so that you can buy Real Estate in them. Check out the short list from above, all of those custodians are real Self Directed Custodians. After you have the account open and funded, you find the investment. In this case some Real Estate property and get it under contract. Have your agent if there is one open Escrow. Then it’s merely ending the Custodian the “Direction of investment” forms and them sending a check for the purchase price. Once Escrow closes the transaction and records the deed your IRA is now owner of the property. Your SDIRA can borrow money to fund the purchase, however the down payment required is usually 30% or more. That however is another topic for another day…

12. When can I withdraw from my SD IRA?

The same times as you can with any other IRA or 401K plan (59 1/2).

13. Is my SD IRA funded by pre-tax or post tax dollars? Do I pay a tax
when taking it out?

Depends if your IRA account is Roth or Traditional.

14. Can I have an SD IRA for my spouse if they are unemployed (contribute
twice as much)?

If you can do it with a Roth or Traditional IRA you can do it in a Self Directed IRA.

15. Is there a phase-out schedule like in the ROTH IRA that pertains to an SD IRA?

Yes, these apply to your Roth IRA whether or not it’s Self Directed.

14. What is your SD IRA invested in?

My Self Directed IRA is 100% invested in Promissory Notes secured by either Real Estate or in some cases by Mobile Homes. Some of the Notes I bought at a discount and others I lent the entire amount of the Note to the Borrower. I’m still in the cash generating mode of investment so I am investing to get cash flow going. Once I build up a nice monthly cash flow I may move to another type of asset. Certainly in the long term goals I have I want to own Real Estate.

Will clearly has a vast knowledge about the subject and I’m happy he was willing to take an interview for it – I suggest you all check out his website regularly at http://willsugg.com/irablog/ to keep up to date on the latest happenings in the SDIRA arena!

Related posts:

1. A conversation with a Charles Schwab associate about funding a ROTH IRA and their options for it. (Part 3)
2. How Do I Plan To Reach My Investing Goals For Retirement?
3. The Difference Between ROTH And Traditional IRA

Who hasn’t reviewed this book yet is more the question maybe – a Google search turns up 158,000 results and I didn’t want to read all of them so I dabbled and hopped through a few of them including:
1. GatesVP
2. MyMoneyBlog
3. Carrie Ikith
4. Steve Braun
5. IWillTeachYouToBeRich
6. SEO Books
7. Freelance Review
8. WorldWide Success
9. Business Coaching
10. Finance and Stuff
11. Ekayati
12. MunnyBagz
13. Accomplish Life

Who was my favorite? Well they all had good points to them, some people took offense to it, some people were inspired by it, me, I was a mix. When I first started it, it was my first Robert Kiyosaki book. I had no prior knowledge of him and had not known his past or who he’s worked with. I picked up the book at Barnes and Noble and actually found myself reading it there in the store with the wife and kids wandering and I finished about 30 pages, and I figured for $7 I could find some time to finish it.

I took it home and breezed through it in about 3 or 4 hours. At first I felt really inspired to read it cover to cover – I liked his ideas, and I liked where he came from and what he had learned. If nothing else, he learned to take what anyone says with a grain of salt, including his Poor Dad. Yes, it’s a “yippee, jump up and do something with your life” type book, but there is nothing wrong with that. He can write whatever he’d like, he’s in the business to make money. He’s not selling this book to make you happy; no matter what he says, he’s not writing for the joy of writing; he’s writing for the joy of $. And again, nothing wrong with that -

When I finished with the book I thought the one good thing it taught me and that I’ve stuck with is being able to FIND more money to work for you. My water bill each month is $150. How about I find a way to automatically have that paid for each month? Why do I have to use my hard earned money that I go to work to pay that bill? It’s small enough. Can I find an investment or investment vehicle that will make me that $ each month? Or how about a new car? Why should you use your current income to pay for that? Try to find a way to have it pay for itself. That’s the big piece of the pie I took away from the book.

The rest is “rah rah cheer cheer” promotional “buy my other products” babble that you kinda have to dig through. And again, nothing wrong with that. He is making a living as well, and this is one of the ways that it is done. It’s funny because he is either REALLY loved, or REALLY hated it seems. I fall in the 1% in between that is impartial. Why? Because that’s just how I am. What good does it do me to slander the guy for making a living? Is that how the “REALLY hate him” group is? Maybe I’m playing the devils advocate here (Bargaineering does this from time to time and it is interesting) and they’re just jealous that he’s successful and they’re struggling to bring in $. Maybe? He’s a successful businessman on MANY fronts and people are always attacking rich people; and honestly I think a lot of the attacks come from jealousy;

On the “REALLY love him” front though, at the same time everyone that “REALLY loves him” are overly loving of him. Standing up for him in blogs, starting blog fights about it, but, again playing the other side of the coin, don’t seem to be backed by him. It’s like having a hero, well, exactly like having a hero. You don’t want to see Superman slandered and backstabbed by Lex Luthor. Nobody wants to see that – the “REALLY lovers” get on this high horse about backing him through thick and thin while all he has ever done for them is take their money and give them a hope that they’ll make it rich someday too.

I dunno – it’s a pretty funny walk down the “blogstreet” and “forumville” to read about any of the posts because they’re always long, and always seem to end up in a fight between the “REALLY LOVE-O-SAKIS” and the “REALLY HATE-OSAKIS”. My disposition puts me in the middle and everyone likes watching a good fight, no? But this post is about the review and I give the book, as you can imagine being a middle-grounder, 4 out of 10. Why? It had some good takeaways in the investment strategy, told a decent story, and kept me entertained for 4 hours, but left me saying a few different phrases:
Yes, I know that. I know that too. That’s a good point. I don’t want to buy that. I still don’t want to buy that. I may take that in the “Free” bin at a garage sale. No. Ok, good point.

Cheers to the people that love him – feel free to let me know why you like him aside from giving advice and why you stick up for him in every forum or blog out there when he’s really done nothing for you aside from write.

And to the people that hate him – Back off and quit being jealous, unless you’re not really jealous and have a valid reason to hate a guy that’s just trying to make a living like yourselves – feel free to comment about those reasons too.

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1. This Is How Rich People Think Differently Than Poor People
2. Why do Poor People Always Win The Lottery?
3. A Book Review: High School Money by Don Silver – And Some Tips And Tricks With Your Money