Latest news with #wealthBuilding
Yahoo
3 days ago
- Business
- Yahoo
Here's how an investor could earn £27 of weekly income for life from a £20k Stocks and Shares ISA
As a long-term investor, the investing horizon of a Stocks and Shares ISA appeals to me. Tucking some money away now will hopefully help me to build wealth over the years and decades to come. But it could also let me earn income along the way, thanks to the dividends that some shares pay. Here is how, if an investor had £20,000 available to invest in an ISA now, they could aim to earn £27 on average in dividends each week for the rest of their life. My own approach to a Stocks and Shares ISA typically involves what is known as compounding. That means reinvesting dividends or gains now, to build a large portfolio and hopefully earn even more down the line. But an alternative is possible. An investor could simply invest their ISA in dividend stocks today and start taking out the passive income as it arrives. That means there is not the opportunity for the dividends to compound, as in my portfolio. But it has the advantage that the ISA could start generating dividends in a matter of weeks. This means the investor need not wait for years or even decades to receive them. An obvious first step is to compare the many Stocks and Shares ISAs that are available on the market and make an informed choice about what one seems most suitable. Not all investors are built the same – and neither are all ISAs. Average weekly dividends of £27 would require a £20,000 Stocks and Shares ISA to yield 7% on average. That is over double the current average yield of the FTSE 100 index of leading companies. But I do think it is achievable in the current market, by spreading the money over a diversified collection of blue-chip shares with proven income generation potential. What is important, though, is not to let the tail wag the dog. No dividend is ever guaranteed to last, so buying a share just because it has a high dividend yield now can be a value trap. Instead, an investor ought to look at the likely source of future dividends, for example by considering how a business's free cash flows look set to evolve over time. As an example of one company I think investors should consider for their Stocks and Shares ISA, FTSE 100 asset manager M&G (LSE: MNG) has a policy of aiming to maintain or grow its dividend per share each year. The current yield is well over 8%. I like the company's strong brand, large customer base, and deep experience in the asset management space. One risk that has consistently concerned me of late about the share is the fact that investors were withdrawing more money from the company's core business than they were putting in. That remains a risk to profits in the long term, in my view. However, the past week saw news of a big tie-up with a large Japanese financial services company. I think that could help M&G grow. Meanwhile, it has proven its business has strong cash generation capability – something that can hopefully keep funding the juicy dividend. The post Here's how an investor could earn £27 of weekly income for life from a £20k Stocks and Shares ISA appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool C Ruane has no position in any of the shares mentioned. The Motley Fool UK has recommended M&g Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025
Forbes
7 days ago
- Business
- Forbes
16 Of The Best Finance Books For The Curious Investor
The best finance books not only help the reader with the steps to identify winning stocks or avoid ... More risk, they help shift your mindset and habits, and influence other aspects of your life, as well as your financial life. Finance books can run the gambit from introductory works which explain basic budgeting concepts to in-depth tomes on hyper-specific types of options trading. This article includes many of the entry-level finance books you may have heard of in passing on investing or budgeting, as well as more complex works on growth investing and global finance. Regardless of your knowledge level, you'll find a new book which can help you in your financial journey whether you're trying to get out of debt, explore financial history, or learn a new investing system. The following books were chosen for their clarity, range of shared expertise and proven insights. From personal finance to investing strategies, each book shares unique strategies for you to enhance your financial systems. As you read these books, you'll continue to unlock new insights and discover other books which make you a better investor and more competent in finance and life. This 1996 book by marketing professors reveals the habits of America's millionaires based on decades of research. This work teaches that despite their wealth, millionaires often live well below their means, avoid debt and build wealth over the course of their lives. This book introduces and compares the concept of Prodigious Accumulators of Wealth (PAWs), who accumulate wealth far beyond their age and income, with Under Accumulators of Wealth (UAWs), those who under-accumulate against wealth benchmarks. Who should read this? Those interested in learning the ever-relevant habits needed to build long-term wealth. Where can you read/rent/buy this book? The Millionaire Next Door This 1997 book by Robert Kiyosaki, an entrepreneur, compares two mindsets on money: the Rich Dad who is an entrepreneurial thinker with the Poor Dad, the conventional careerist. This popular work shares strategies on financial literacy, how to accumulate assets rather than liabilities, and how to earn passive income. One of Kiyosaki's main lessons is that the reader should buy income-generating assets rather than liabilities, even if the liability may look like an investment. Who should read this? Finance beginners who want to learn unintuitive perspectives on work, money, and investing. Here's where can you read/rent/buy this book? Rich Dad Store This 1992 book by Vicki Robin, a social innovator, and Joe Dominguez, a financial analyst, provide a foundation for how to achieve financial independence and live more intentionally. One exercise popularized from the book is tracking every dollar spent and connecting expenses to spent 'life energy.' The work also provides a comprehensive program to challenge and reevaluate your relationship with money. Who should read this? Those interested in budgeting, frugal living and achieving financial freedom. Where can you read/rent/buy this book? Vicki Robin This foundational 1949 work on investing was written by Benjamin Graham, an economist and professor provides an introduction to value investing, a strategy where investors purchase assets at a lower price than their intrinsic value. This book explains intrinsic value, or the true value of an asset, as well as Mr. Market, the personification of the market as a business partner who is daily driven by differing emotions. The Intelligent Investors provides countless useful lessons for investors especially maintaining emotional discipline and maintaining a margin of safety as loss protection. If you're interested in other books like The Intelligent Investor, read more about the best investing books. Who should read this? Novice or intermediate investors who want to better understand the market, how to choose the right assets to invest in and learn essential investing principles. Where can you read/rent/buy this book? HarperCollins Publishers This 2020 book by financial journalist and partner at Collaborative Fund, Morgan Housel, explains how psychology rather than pure quantitative reasoning explains financial decisions. Like other books on this list so far, Housel encourages humility, patience, and adaptability as virtues when it comes to how you use money. Another key lesson is that financial success is tied more to behavior than intelligence. Who should read this? Readers who want to learn more about how psychology and behavior affect finance. Where can you read/rent/buy this book? Penguin Bookshop Erin Lowry, a personal finance expert, explains in her 2017 work how the millennial generation are currently and should navigate financial decisions. She navigates topics like splitting rent, how to manage money and relationships, and how to avoid lifestyle inflation. Lowry creatively teaches with 'real talk' as well as quizzes to keep the book engaging and instructive. Who should read this? Millennial and Gen Z readers who are starting their financial journey. Where can you read/rent/buy this book? Porchlight Book Company This seminal 1958 work by the founder of growth investing explains how to analyze company fundamentals and invest in stocks for growth. Fisher provides a 15-point checklist to evaluate the quality of a company and its long-term growth potential. The book explains the utmost importance of company management quality and competitive advantages which will enhance the chance of success. Who should read this? Investors who are interested in fundamental analysis and want to learn about another investment approach. Where can you read/rent/buy this book? Wiley This 2016 book by FIRE movement writer, JL Collins, offers a simple approach to financial independence through passive investing and financial simplicity. This book is a classic in the FIRE, or financial independence, retire early, community. Collins encourages readers to avoid debt, be as frugal as possible, and invest in VTSAX, Vanguard's total stock market index fund. Who should read this? Those who wish to attain FIRE or simplify their approach to financial management. Where can you read/rent/buy this book? Simon & Schuster Dave Ramsey, a personal finance educator, wrote his 2003 bestselling book to provide a simple strategy to get out of debt and build wealth. In The Total Money Makeover, Ramsey lays out his '7 Baby Steps' which include steps like saving $1,000 as an emergency fund, paying off debt and investing for retirement. Ramsey also encourages avoiding credit cards universally, not taking out car loans and using a zero-based budget, ensuring every dollar of income is accounted for expenses when you earn it. Who should read this? Readers seeking a path for paying off debt and growing their net worth. Where can you read/rent/buy this book? Ramsey Solutions Napoleon Hill, self-help expert and advisor to Andrew Carnegie, wrote this 1937 classic to help explain the link between mindset and financial success. Hill encourages readers to have clarity of purpose, be persistent, practice autosuggestion or self hypnosis where the practitioner changes their self-talk to achieve more. This book has been influential to many business leaders and has sold over 15 million copies. Who should read this? Readers who wish to achieve financial success through mindset changes. Where can you read/rent/buy this book? Simon & Schuster This 2010 work by financial journalist Michael Lewis provides a compelling history of the history of the 2008 financial crash and the investors who saw the crash coming and profited from it. This book explains complex financial concepts for the layperson in an engaging way and provides a better understanding of the factors which led to the crash. In particular, Lewis delves into the fragility and irrational recklessness of the financial system before the crash. Who should read this? Readers who want an approachable and captivating investigation into the 2008 crash and the strategies of the traders who profited from it. Where can you read/rent/buy this book? W. W. Norton & Company The Black Swan, a 2007 book by statistician and former trader, Nassim Nicholas Taleb, explores how people misunderstand risk and the effects of black swan events which are truly unpredictable and rare events. Taleb combines studies in philosophy, finance, history and probability to evaluate these events and how to better manage uncertainty. A key lesson is Taleb's warning against excess confidence in economic models, forecasts and experts. Who should read this? Investors who wish to better understand uncertainty and challenge their own biases. Where can you read/rent/buy this book? Random House Publishing This 2015 work by a Nobel Prize-winning economist and University of Chicago professor charts the rise of behavioral economics and how real-world behavior doesn't follow traditional finance models. The book contains both academic economic insights as well as real stories of how people don't follow logical behavior in finance. Thaler explains the main breaking points between economic models and how humans behave as well as how this behavior can be predictable. Who should read this? Those interested in behavioral economics and the psychology which underlies financial decisions. Where can you read/rent/buy this book? Porchlight Book Company James Rickards, an economist and former U.S. government advisor, provides a stimulating description of global finance, how currency collapse looks and economic warfare in his 2014 book. This work provides extensive historical analysis, explanation of geopolitics and monetary theory for a big picture look at global macroeconomic instability. Rickards provides unconventional analysis investigating financial systems and their vulnerabilities which will be captivating for those interested in economics and foreign affairs. Who should read this? Readers who are interested in economic history, the financial risks our economic order faces, and currency policy. Where can you read/rent/buy this book? Penguin Random House This 1994 work by Jim Paul, a former trader, and Brendan Moynihan, a managing director at Marketfield Asset Management, provides a narrative of how psychological mistakes like ego and emotion can wreck trading success. The authors explain that while there are many ways to make a fortune, the ways to lose a fortune are the same. Rather than shying away from the vulnerability of financial mistakes, this book provides a raw tale of financial loss and how better decision making and emotional control can prevent this same fate. Who should read this? Investors who want to understand the psychology of loss and risk management, and avoid emotion-driven mistakes. Where can you read/rent/buy this book? Columbia University Press This 2007 quick read by the founder of Vanguard and father of index fund investing advocates for most investors to choose low-cost index funds as their primary strategy rather than stock picking or actively-managed mutual funds. Bogle uses copious data to explain that beating the market is impossible for most people and they would be better served passively investing in the market. Bogle's book spawned the passive investing movement which has many more advocates today, even in the professional finance community. Who should read this? Readers who are seeking a simple but effective set-it-and-forget-it investing strategy. Where can you read/rent/buy this book? Macmillan Publishers Bottom Line The best finance books not only help the reader with the steps to identify winning stocks or avoid risk, they help shift your mindset and habits, and influence other aspects of your life, as well as your financial life. Whether you're interested in learning unconventional strategies for earning returns, reducing debt, planning for unexpected economic events, or streamline your investing strategies, there's books in this article for you.
Forbes
12-05-2025
- Business
- Forbes
How These Women Are Reclaiming Financial Power With Podcasting
Over the past decade, women have increasingly recognized the transformative power of their voices and entrepreneurship in building wealth. This recognition has been especially profound for women of color who have been mostly excluded from mainstream financial narratives and systems of capital. Today, they are redefining what wealth-building looks like through emerging, powerful platforms like podcasting. Once a niche format, podcasting has become a $17.59 billion industry, reaching 450 million global listeners in 2023 and projected to hit 619 million by 2026, according to Riverside. But for women of color, podcasting is becoming more than a platform. It is a monetizable means for community-building, storytelling, and financial experiences that enrich our groups; a space to claim authority in conversations about money, health and wellness and to foster trust with listeners while building long-term economic futures. We have seen podcasting catapult creators like Jemele Hill who created The Unbothered Network to elevate the voices and stories of Black women, Alex Cooper, who turned Call Her Daddy into a 22 million network, and more recently, Meghan, Duchess of Sussex, who re-entered the podcasting space to engage in dialogues about her and other founders' journeys through her show. But when it comes to financial stability and women of color's futures, as a podcaster myself, it is vital to understand how women of color are changing their financial futures and supporting the collective to do the same. So it is worth asking how women of color use podcasting to rewrite their financial narratives and amplify their influence. Here, four of these women, who are leading in the field one episode at a time, let us know how they are doing it. Nearly eight years ago, Sokunbi launched the The Clever Girls Know Podcast with a clear mission: to empower women with financial education and create a space where women could hear their realities reflected in conversations about money. 'I started it because I wanted to create another opportunity to reach women and support them as part of my mission to empower them with financial knowledge,' she said. 'At the time, podcasting was big, but there weren't many women like me behind the mic.' Though she admits she was uncomfortable at first, Sokunbi knew podcasting offered a unique channel to reach listeners who might not engage with blogs or videos. Over time, what began as a low-budget effort became a cornerstone of her brand and a consistent source of connection with a growing audience. Her podcasting approach is rooted in three things: consistency, honesty, and community. 'My audience knows to expect a new episode every Tuesday,' she said. 'We cover personal finance, entrepreneurship, motherhood, motivation, and mindset. And I'm transparent, even when I'm struggling or tired.' That connection has translated into tangible growth not just for her audience, but for her business. While supporting the community to grow, Sokunbi's podcast monetization strategy includes brand ads, sponsored episodes, and integrated promotion of the company's books, coaching, and courses. And beyond her own podcast, Sokunbi began hosting branded podcast series for other companies, including The Washington Post, turning her voice into a versatile, revenue-generating asset. Les Alfred did not set out to become a podcaster. In fact, she admits she didn't even envision herself in front of a mic before launching what is now She's So Lucky podcast. But what began as a series of wellness conversations featuring Black women experts on topics from gut health to fertility evolved into something bigger. 'I wasn't finding platforms that spoke to my lived experience,' she said. 'A lot of the big wellness podcasts were male-centered or didn't factor in the cultural elements that shape health and money for women of color. I wanted to create the show I needed.' The show naturally pivoted as she expanded her topics and her audience responded. Today, She's So Lucky is a platform where Alfred interviews women who are leading and whose stories reflect the nuance, ambition, and challenges of women of color navigating modern life. That shift also redefined how she thought about content creation and growth. While social media platforms push content through algorithms, podcasts do not offer the same discoverability advantage. For Alfred, the key has been radical consistency. 'People won't come back if there's no content to expect,' she said. 'My strategy has always been to show up regularly and experiment with what works even when growth feels slow or uncertain.' That approach has led to steady listenership and monetization through post-roll advertising. But Alfred is honest about the challenges, especially as a woman of color in the podcasting space: discoverability and scaling remain her biggest hurdles. Still, she does not regret a thing. If anything, she wishes she'd embraced the full potential of the medium sooner. 'I would've implemented video earlier,' she said. 'That's been a game changer in expanding reach and creating deeper engagement.' Jannese Torres has built a movement grounded in culture, financial liberation and an unapologetic voice. Before launching Yo Quiero Dinero, Torres spent time as a podcast listener searching for voices that mirrored her own: first-gen, Latina, navigating money without a financial blueprint. When she did not find it, she made the space herself. 'I was looking for someone who understood what it was like to figure out finances with no generational wealth, no roadmap,' she said. 'So I started the show I needed with my friends, with our stories.' What began as intimate conversations grew into a recognizable platform for Latinas navigating money matters. With a variety of topics that speak to a First-gen Latin's lived experience, Yo Quiero Dinero became a hub for visibility, trust, and transformation as a community. 'We're very clear on who we serve,' Torres said. 'If you're Latina, this is where you belong. We don't water it down, and we don't try to be for everyone. That clarity built trust.' That trust turned into opportunity. The podcast's monetization journey has been expansive: from ad revenue to coaching services, paid speaking engagements, brand partnerships, and most recently, her debut book, Financially Lit, which is now also available in Spanish. The success of the show has also made Torres a sought-after voice in the personal finance industry, despite early pushback. 'People used to ask if I was excluding others by focusing on Latinas,' she said. 'Now, they're trying to figure out how we've built such a loyal audience. That cultural connection—our values, our authenticity—it's our strength.' If she could start again, Torres says she'd invest more from the beginning. 'I started with my phone and AirPods. I didn't realize I was building a business. But I'd tell anyone: plan for growth. Know your audience. And start building with intention.' Terri Lomax and Dr. Dominique Broussard launched their podcast because they saw a gap and felt it deeply. Conversations centering Black women's wholeness, ambition, mental health, and personal growth were not happening in public spaces the way they needed to be. 'We craved the kind of honest, healing, and unfiltered conversations we didn't often hear,' they said. 'Our identities as Black women fuel every episode.' From trauma to transformation, Cultivating H.E.R. Space has become a global sisterhood rooted in healing, empowerment, and resilience where their listeners do not just tune in but they show up, connect and co-create. The show has released new episodes every week for more than seven years, and beyond consistency, Lomax and Dr. Dom emphasize authenticity and accessibility as part of their success. Their monetization model reflects the show's reach and loyalty. They earn through sponsorships (with brands like NPR, BetterHelp and Calm), live events, merchandise, and community subscriptions. While sponsorships remain the most consistent revenue stream, their listener-supported model is gaining traction, reflecting the trust they've cultivated. Still, as women of color in the podcasting business world, they have faced hurdles. 'Funding and access have been our biggest challenges,' they said. 'Even with a top 1% podcast and major brand deals, we've often been denied loans and grants. The business world wasn't built with creators like us in mind.' Instead, they have learned to lean on their community: 'Our community-supported subscriptions are growing' 'We also genuinely listen to our audience. Through surveys, comment sections, and suggested episode topics, we invite our listeners to co-create with us. We read every review and take what the ladies say to heart, it helps shape the content we deliver.' If they could start again, they would treat the podcast like the business it has become. 'We'd have built systems sooner, started with a clear monetization strategy, and given ourselves more grace,' they said. 'The grind is real—but so is the impact.' As women of color, despite the ongoing challenges we face in accessing capital, visibility and platform-building, these podcast hosts prove that our voices are powerful tools for transformation. Beyond building brands, they craft blueprints through authenticity, consistency, and strategy that redefine what wealth-building looks like when rooted in purpose. Have you listened to one of these podcasts? If not, now is the time. When women of color are on the mic, we do not just shift the conversation; we shape the future.
Yahoo
11-05-2025
- Business
- Yahoo
From £1,000 to £10,000: investing with a Stocks and Shares ISA
For British investors, a Stocks and Shares ISA is one of the most powerful tools for building wealth. While only £20,000 can be added each tax year, any capital gains and dividends received are protected from the fingers of the taxman. So if an investor manages to 10x their portfolio, they get to keep all of these juicy gains. But the question now becomes, how can an investor transform a £1,000 investment into £10,000? Please note that tax treatment depends on the individual circumstances of each client and may be subject to change in future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice. Readers are responsible for carrying out their own due diligence and for obtaining professional advice before making any investment decisions. There are different ways to strive for a 10x return. Exploring penny stocks can be a good place to start. These enterprises have a habit of delivering explosive gains (although many also fail). One example would be Tilray Brands in 2018. With hype surrounding the upcoming legalisation of cannabis, the cannabis-themed consumer packaged goods enterprise was a seemingly exciting opportunity for investors to gain exposure to this market. And within a few short months of its IPO, the share price skyrocketed by 1,000%. So anyone who put £1,000 to work in July 2018 quickly had close to £10,000 by mid-September. The problem is that hype-driven returns are rarely sustainable. Anyone who held on to their shares has seen all of these impressive gains wiped out. And those who bought at the peak are now sitting on a 99% loss – ouch! Needless to say, penny stocks are hazardous. And while everyone loves the idea of getting rich quick, that often requires taking on lottery-like levels of risk. Instead of focusing on penny stocks, exploring small-caps might be a more successful approach. There's no denying these businesses still carry high levels of risk. But with established revenue streams and cash flow, they're far more financially robust than most penny stock enterprises. And that makes the investing process significantly less speculative. Not all small-caps are destined for greatness. But over the last decade, there have been multiple sustainable 10x success stories emerging from this space. Alpha Group International (LSE:ALPH) is a perfect example of this. The foreign exchange risk management and alternative banking fintech joined the London Stock Exchange in 2017 at a market-cap of around £64m. It's since carved out a niche that corporate bankers were overlooking. Revenue, earnings, and cash flows have surged at a double-digit rate despite economic slowdowns. The journey hasn't been smooth, with the share price getting chopped in half during the 2020 pandemic. And yet even with this turbulence, shareholders have reaped a total just shy of 1,100% as Alpha grew from an AIM-listed small-cap into a FTSE 250 mid-cap. And it's how it became one of my largest holdings in my Stocks and Shares ISA. Alpha's growth story might not be over. While the company's currently being courted for a potential takeover, management may decide to remain independent. Why? Because despite all the progress, it's barely made a dent in its total addressable market that's still dominated by archaic systems and legacy banks. The company has begun stepping outside its niche, which means more competitive pressures. So assuming it isn't acquired, the journey to deliver another 10x return may take considerably longer than eight years. Nevertheless, for patient investors seeking substantial long-term gains in a Stocks and Shares ISA, Alpha may be worth considering if it doesn't get snapped up in the coming weeks. The post From £1,000 to £10,000: investing with a Stocks and Shares ISA appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Zaven Boyrazian has positions in Alpha Group International. The Motley Fool UK has recommended Alpha Group International. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025
Yahoo
11-05-2025
- Business
- Yahoo
This 20-something couple lost $80K in an options trading gamble — where Ramit Sethi says they went wrong
Paul, 27, thought he had a winning strategy. Riding a wave of headlines about President Donald Trump's trade policy and looming tariffs, he took $80,000 that he and his wife Vicki had saved up and invested it in stock options. Paul was betting that automakers like Tesla would take a hit. He was confident he could time the market and make money with his options to buy or sell. But the market had other plans. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Instead of dropping in value, shares held strong, and Paul's aggressive play quickly turned into a steep loss. 'It was a very difficult thing to swallow,' Paul told Ramit Sethi during an episode of the finance guru's podcast, I Will Teach You To Be Rich. The personal finance advisor invited the couple to unpack what went wrong and what matters in the long game of building wealth. When Paul made his first options trade on Tesla, he was riding high, pocketing around $3,000. But what began as a small win quickly spiraled into a devastating loss. By the following day, Paul had lost $80,000 and decided to sell his position to 'give in to the options trading gods.' 'I was devastated,' he admitted to Sethi. Read more: BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis The money, gone within 24 hours, was the couple's emergency fund, saved over two years. That $80,000 wasn't just a number, it was security. 'It's a big number to the both of us,' added Vicky. 'The meaning behind it is freedom.' Paul was crushed not just by the financial blow but by what it meant for his relationship. He called Vicky to tell her what had happened, describing it as a hard pill to swallow. Vicky recalls hearing the distress in Paul's voice. 'I heard my husband being very anxious, very distressed, and my immediate reaction was to be the calm, cool, collected one.' Before their nest egg was wiped out, Paul and Vicki's financial picture looked solid. They had zero debt, $80,000 in liquid assets, $110,000 in investments and $23,000 in savings — bringing their total net worth to $213,000. Now the couple is rethinking their approach to risk and working to restore what took years to build. While many obsess over skipping coffee or hunting for coupons to build wealth, Sethi says the real game-changers involve much bigger strategies. "People focus on $3 questions when they should be asking $30,000 ones," he says. According to Sethi, these are the kind of '$30,000 questions' that move the needle: Choosing the right career (and knowing when to negotiate or switch jobs) Deciding whether to rent or buy, and where Making smart, long-term investment choices Planning major life goals like early retirement or starting a business Sethi offered some strategies to the couple to help them rebuild and move forward. He recommended building up a 12-month emergency fund and establishing some extra savings to provide financial security. By doing this, they will also avoid making impulsive decisions during a time of market volatility. Sethi advised automating investments to maintain a consistent investment strategy and reduce the need to make decisions in the heat of the moment. Panic selling in a downturn can lock in losses. It's crucial to stay informed and make decisions based on long-term goals, not fear and emotion. And finally, it's important to focus on major financial decisions. By prioritizing significant life choices versus short-term market movements, you're putting your overall financial well-being at the forefront. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
