If you became a newly minted millionaire, where would you migrate to? Due to inertia, I bet most of you would stay right where you are. A lot of us are afraid of change, which is why we stay at jobs we hate and suffer through broken marriages for too long. But how about being| Financial Samurai
Nobody enjoys a stock market downturn, especially those who rely more on returns to survive due to a lack of active income. But as parents, we can use these sell-offs as an opportunity to help turn our kids into future millionaires. Although I’m a perennial optimist, I believe our kids are kind of screwed. The| Financial Samurai
Want to learn how to become a millionaire by 30? Here’s my story on how I reached a million dollar net worth in my late-20s. It involved a lot of luck, a lot of effort, and a lot of risk. I believe all Financial Samurai readers will eventually become millionaires due to disciplined saving and| Financial Samurai
Curious to know the ideal net worth for retirement? As someone fake retired in 2012 at age 34 with $3 million, let me tell you. $10 million sounds like the ideal amount of money to retire with. With $10 million, you can easily generate between $300,000 - $500,000 of low-risk investment income. I was talking| Financial Samurai
Are you confusing your good fortune due to your own skill rather than due to luck? I'm here to argue that above average wealth is mostly due to luck. Therefore, stop deluding yourself into thinking you're so great! As President Obama said in a July 13, 2012 campaign election speech, 'If you've got a business,| Financial Samurai
Although being a millionaire sounds nice, it's not that impressive anymore thanks to inflation. In order to be a real millionaire, you will need to have a net worth of at least $3 million, not $1 million. A $1 million net worth provided a great lifestyle before 1990. Not so much today. If you retired| Financial Samurai
Needless to say, a $20 million net worth is a substantial amount of money. It firmly places you within the top 1% of net worth, with the current minimum threshold around $13 million. But is $20 million enough for you to live happy and free? Not necessarily. Previously, we discussed how a $10 million net| Financial Samurai
Practice stealth wealth if you know what's good for you. Showing off how much you make and how much you have is not the way of the Financial Samurai. You will be crucified by the public if you show of your outsized wealth. People will not give you credit for the risk you took and| Financial Samurai
If you're looking to achieve financial freedom before a traditional retirement age (60+), you must build passive income. This post will highlight the best passive income investments in our current economic environment. Passive income is the holy grail of personal finance. If you have enough passive income to cover your desired lifestyle, then you are| Financial Samurai
How To Engineer Your Layoff eBOOK 'I bought How To Engineer Your Layoff for my sister who was then able to negotiate a $50,000 severance. Two years later, I used this book to help me negotiate an $80,000 severance during the middle of a pandemic! What's more, I got a month off to relax, and| Financial Samurai