A very close friend and his wife have poured their time, resources and money into paying off their mortgage by age 40. They have not gone on a vacation for the past 10 years; they use public transport to get to work and rarely go to restaurants. They have achieved their big goal of paying off their mortgage 18 months early. This is a big deal for them and we are all very proud of their accomplishment. So, what is next? What do they do with the extra cash each month now that they do not have a mortgage?
A mortgage or credit card debt is tangible, measurable and extremely motivating to see your balance reduced month after month. Is it easy to channel that additional extra cash into savings or retirement? Not as easy as it sounds. Retirement goals or savings are far less concrete because there are so many uncertainties and it really difficult to measure your progress. If you increase your retirement savings by $1000, there is no guarantee that your retirement account will increase by $1000... Read More
Pride can drive us to great things and pride can also drive us to disaster.
Pride can push us to work harder and help us not to give up. But, pride channelled in the wrong direction, can push us to spend our time and money in incredibly foolish ways. Let me tell you about my dear friend Eric. This is a story of how pride nearly drove Eric to financial ruin.
Eric tried incredibly hard to keep up with the people in his life and he did so by buying things and going out for expensive evenings almost constantly. He would think nothing of...Read More
Why do we worry about Money? Some of us regrettably major in worry. Worry is sometimes easier than picking ourselves up off the ground, scraping together good solutions, and having faith that things will work out. One reason we worry is because of our lack confidence managing money. Consequently, we shy away from investing, eliminating debt aggressively, and maintaining adequate solvency and insurance. Lacking confidence with money often stems from incompetent education. Fortunately, we can become more confident and better equipped to manage our finances through...Read More
Advertise on TWF
Real Estate FAQs
Subscribe via Email
Who is TWF?
The objective of the Thornhill Wealth Forum is to assemble like-minded people interested in wealth creation, to share, learn and prosper through knowledge sharing and networking. Our philosophy is to be supportive of the wealth of others. Share information on self-promotion or help a struggling entrepreneur…even share it with your competition