The average US family health insurance premium has increased from $6,000 in 2000 to $21,000 in 2022. That’s a 249% increase, or 5.8% per year, more than double inflation.
The biggest beneficiaries of this massive increase in costs: health insurance companies. UnitedHealth…
@profgalloway
Or you can hang out with people you love and respect. Friends aren’t cars.
I am a fan but this is a terrible take. I can’t imagine choosing friends based on how smart or successful they are.
Kevin O’Leary was against crypto until FTX came along and gave him 15 million in tokens to promote them. Now he’s lost what was given to him and is playing the victim. The real victims are the millions of people that fell for the fraud he promoted.
Nvidia currently has only $26 billion in sales versus $208-525 billion for the Big 4 (Microsoft, Apple, Google and Amazon). Just how high are these expectations? Nvidia now trades at over 38x sales and over 200x earnings. We’ve never before seen a price to sales ratio that high…
Tesla is going to be the next Netflix.
Like Netflix, it is revolutionary, far ahead of its time, excellent execution and visionary leadership.
Also like Netflix, there is no moat with minimal barriers to entry for competitors.
The party will come to a screeching halt.
The millionaire profile:
•The median household income of the average American millionaire family is $131,000 per year
•80% did not receive any inheritance
•They live in neighborhoods where the majority of their neighbors have less wealth
•83% attended only public schools
Not a single sell rating from any wall street firm covering SIVB. Says everything you need to know about the value of analyst recommendations and price targets.
Top 5 Wealth Killers:
#1
by a landslide: credit card debt
2. High student loans without a high earning degree
3. House(s) / car(s) beyond needs and with a higher carrying cost than you can afford
4. A partner that encourages excessive spending
5. Personal lifestyle creep
RIP Charlie Munger, one of the greatest. In a world that seems to have lost its common sense at times, he was full of practical wisdom. Some of his best nuggets…
At age 95, Jimmy Carter fell, was bruised and got 14 stitches, and still went to build homes for the homeless. Regardless of where you sit politically, this is one incredibly inspiring human being.
When this is over we all need to stop using Amazon for 90 days and instead:
1 - Shop at our local stores
2 - Eat out often and tip big
3 - Grab drinks with friends more than normal and support our local bars
4 - Catch up on travel
4 tips to build wealth:
1. Start as early as you can.
2. Automate your savings. Invest a certain amount from every paycheck, even if small.
3. Avoid credit card debt.
4. Buy assets that bring money to you (stock, bonds) instead of assets that take money from you (fancy cars).
Can we get through this? Of course we can. Imagine being born in 1900.
Age 18: WWI starts, lasts 4 years, 22m die
Still 18: Spanish Flu epidemic kills 50m over 2 yrs
29: Great Depression; economic collapse over 4 yrs
39: WWII starts, lasts 6 yrs, 75m die
Why not just invest in the S&P 500? Because there's a cycle to everything, and nothing outperforms forever. From 2001 to 2010, large-cap U.S. stocks earned exactly 0% while many other asset classes did incredibly well.
From my new book: Money, Simplified.
The life of Alexander the Great is filled with incredible, true stories, but the story I find most insightful is a myth about his death. It's full of important life lessons.
On his death bed, Alexander the Great summoned his generals and told them his 3 final wishes:
This is incredible. Ukraine’s president is asking for
@elonmusk
to provide Starlink stations to ensure fast internet stays in place. And Elon making it happen within hours.
In my books, letters and podcasts I regularly encourage people to enjoy their wealth. Getting your dog a first class tickets from Hong Kong to Paris is a bit over the top though.
One thing I have learned over the years is there are plenty of people that look like they have nothing but are actually super wealthy, and plenty of people that look super wealthy but actually have nothing.
How much better off would the world be if every high school student had to take just one credit hour on personal financial education and one on having healthy relationships?
4 things that should be required learning in high school:
1. How a credit card works
2. How to create a budget
3. How compounding of interest/returns impacts wealth
4. How loans and credit scores work
4 things that should be required learning in high school:
1. How a credit card works
2. How to create a budget
3. How compounding of interest/returns impacts wealth
4. How loans and credit scores work
If you agree with every single one of your political party’s positions you stopped thinking for yourself long ago and have become a total sheep, a victim of manipulation.
It’s one thing for individuals and small businesses to not have a a few months of reserves. It’s completely unacceptable that publicly traded companies that have been issuing dividends and conducting stock buy backs suddenly can’t survive a few months.
The S&P 500 is down 12.5% year to date. Over nearly the last 100 years, the average market drop has been 14%.
We aren’t event at an average correction level yet.
If you are overly stressed out about your portfolio, the stock market isn’t for you.
Stay disciplined and prevail!
Forgiving student loans is unfair to the majority of Americans, especially those that never went through college. Plus, there are better solutions to help those in need. Here’s why:
An analysis of 4 million participants found people who lived with a dog were 24% less likely to die during the 10 year study compared to those that didn't live with a dog. Dog owners also had a 31% lower chance of a heart attack.
Like I needed another reason to love my dogs!
7 traits of high performers:
1. Self discipline
2. Excellent time management
3. Keen understanding of priority
4. Positivity Bias
5. Self-aware
6. Developing expertise
7. Eye on the prize - focus on results
@RBReich
74% of Millennials believe millionaires inherited their money, but the vast majority of millionaires didn’t get any inheritance at all. Only 21% of millionaires received any inheritance. Just 16% inherited >$100,000 and only 3% received an inheritance >1 million. Chris Hogan
If you have..
•food on your table
•a roof over your head
•plumbing
•electricity
•and a super computer in your hand
Then you are in the most fortunate group of all humans to ever inhabit this earth. There is plenty for which to give thanks.
Every week from here on out the weather will get a little better and millions more will be vaccinated. The new beginning is coming and it’s going to be very, very good.
Most Americans become millionaires simply by making smart 401(k) decisions. Here is a clear 10 step path to joining the ranks of America’s 401(k) millionaires:
The millionaire profile:
•The median household income of the average American millionaire family is $131,000 per year
•80% did not receive any inheritance
•They live in neighborhoods where the majority of their neighbors have less wealth
•83% attended only public schools
So you want to be a millionaire?
1/10: take personal responsibility for making it happen. Own it.
Contrary to popular belief, most millionaires are self-made. 79% did not receive ANY inheritance.
Your most valuable assets don’t show up on your balance sheet:
•Love in your life / Family and friends
•Health
•A peaceful mind
•Dreams / Purpose
•Time
If you invested $10,000 in the S&P 500 10 years ago, you would have $39,512 today.
20 years - $52,583
30 years - $205,168
40 years - $897,161
50 years - $1,783,006
Compounding is magic.
Start as early as you can.
The closest recent comparison is Tesla, which traded at nearly 30x sales when it hit the $1 trillion mark back in 2021. What happened after that? It would go on to decline over 70% with its price to sales ratio falling to 5x. I posted that it was overvalued near its peak, and…
Top 5 Wealth Killers:
#1
By a landslide: credit card debt
2. High student loans without a high earning degree
3. House(s) / car(s) beyond needs and with a higher carrying cost than you can afford
4. A partner that encourages excessive spending
5. Personal…
4 things that should be required learning in high school:
1. How a credit card works
2. How to create a budget
3. How compounding of interest/returns impacts wealth
4. How loans and credit scores work
“Money is multiplied in practical value depending on the number of W’s you control in your life: what you do, when you do it, where you do it, and with whom you do it.” –
@tferriss