Whether you invest in real estate, you run your own business or starting out, there is
one financial skills that will help you achieve success. It is not financial acumen, decision making or "insider secrets".
For me, if you master this one financial skill, you will make significant strides toward your financial freedom. That skill is...Read More
Are You Allowing Family to Control your Financial Destiny?
“My parents think we should buy a house, but I don’t think our finances are ready for that.”
“My grandfather says that only fools invest in the stock market.”
“Uncle Lewis invests a lot of his money in gold and pretty much insists that we should all be doing the same.”
“My brothers say that buying a car that’s less than five years old is a waste of money.”
Family members and loved ones can be incredibly compelling. We trust them. We love them. We value their input. Sometimes, they frustrate us with their input, but we know that it’s usually brought about by love and concern.
How can we not listen to them? How can we not value their input?
The first thing to remember is...Read More
I don’t think there’s a better feeling in the world than having succeeded at some large goal.
That moment when you send in your last mortgage payment? It’s magic.
That day when you sign the papers to get your first novel published? Unparalleled.
That day you managed that ten minute or eight minute or six minute mile? Incredible.
I wouldn’t trade the feeling of achieving a large goal for virtually anything else in the world. Almost every great moment in my life – save the birth of my children – was the culmination of a goal.
It feels so incredible because...Read More
You may have noticed that as you get older, time seems to move faster. Summers are shorter, you often run behind, and spend more time than ever before catching up. No matter how we perceive the passing of time, the fact is, that the clock is ticking. Every moment that you don’t get started, is a moment that passes you by. This is not to say you should always be busy, but isn’t it time to stop waiting for the perfect time?
With this awareness, when ideas and dreams cross your mind, you won’t dismiss them so easily. If you...Read More
Are people who do not know how to manage their finances dumb?
Personal finance, on the surface, seems like common sense.
Spending less than you earn is not rocket science, after all.
The problem is that actually spending less than you earn relies on repeatedly and
consistently making good decisions in many different aspects of life.
You have to know how to shop around. You have to know how to control your impulses. You have to be able to truly assess the impact of acquiring debt. These are modern life skills and, like it or not, we’re not born with them.
These are skills that we learn.
Some of us are lucky and we learn these skills growing up. Others have a school with a great
education program or a teacher who can make the topics relatable. A very large number of us had neither of these. We were dropped into adulthood without a good sense of the financial impact of our impulses and without a strong comprehension of how big of a hole we were digging for ourselves....Read More
If there is some aspect of your life that’s bothering you, know this: you cannot expect it to improve if you keep doing the same things you’ve always been doing.
Even if your fairy godmother showed up and waved her wand to give you what you wanted, you would rather quickly wind up back in the same place you were before.
Lasting life improvement only occurs when you permanently change some aspect of how you live your life.
This is the reason many lottery winners wind up broke. In their lives, they were accustomed to living paycheck to paycheck. If they had money after the bills were paid (or sometimes before the bills were paid), they spent it. Suddenly having millions in the bank did not change this fact...Read More
Every single day gives us a new morning. We’ve awakened to a day that is free from mistakes. It’s full of hours and hours of opportunity. Do we fill those hours with doing the same old thing that got us into the state that we’re in
Or do we throw aside some of those old routines and choices and try to work for something a little better in our lives?
Today is a day where you can complete a project that’s been on your mind for a while.
Today is a day when you can learn something new. Today is a day when you can invest the time to build a stronger relationship with someone.
Today is a day when you can set up things to save you time and money later on.
Today is a day to master one real estate strategy and take action...Read More
As you know I enjoy studying the habits of financially successful people. This allows me to learn from their mistakes and introduce changes into my own life. I read an article about Carlos Slim Helu, one of the richest men in the world with an estimated net worth of $US67 billion. He lives in a modest house he has owned for 30 years and his bedroom is the size of a hotel room. We also know that Warren Buffett has lived in the same 5 bedroom house for 55 years.
These billionaires know one simple fact and live by it: every dollar you don’t spend on something foolish is a dollar you can instead spend on something worthwhile.
What’s something foolish? A food item at the store you don’t really need. A bigger house than you need, which drains property taxes and maintenance and utilities from your pocket. An entertainment item you don’t have time for. The list goes on and on...Read More
It has been a very difficult and stressful week. I was sick for 3 and was unable to put any logical thought into my writing. There have been many, many times over the past several years when I have felt completely overwhelmed by my work as a human resources professional, managing the Thornhill Wealth Forum, writing my book, investing in family and reaching true financial independence.
My big dream is to reach true financial independence.
By that, I mean that I have enough money socked away in relatively stable investments so that the income from those investments provides me with enough for my family to live on regardless of whether I’m actually earning income.
Why is that my goal? It’s not so that I can sit idle. It’s so that I have the freedom to take giant personal risks, like spending several months doing nothing but perfecting a novel or spending a bunch of time laying the groundwork
for a charity or making a real difference to the lives of a few people without having to worry about failure...Read More
It is a wonderful thing when your real estate investment is running on auto pilot. Rents are paid on the first of the
month (every month), tenant does their own repairs (and improvements) and you never receive a phone call from the tenant. Sweet.
But now your beloved tenant is leaving for another landlord.
The work begins. Multiple open houses, carefully vet future tenants like the CIA to ensure the least amount of headache down the road. Thank goodness everything is so easy to do on Kijiji nowadays.
If you are an aspiring landlord this post should help provide some prospective to getting what you want...Read More
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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