This is a guest post by Jasper L. Stojanovski from Stojfinance.com. Jasper is a 19 years old man with a passion for investing that hopes to pursue a career in finance. I am very happy to have him contribute to this blog.
Are you moving out of your home and cannot decide whether to buy or rent?
Many people prefer owning a home. However, financially, this might not be an option for you now. In this post, I will explore the pros and cons of each, so you can decide what is best for you. But before I begin, you will need to answer a few questions:
- How long do you plan to live here?
- What is the price of housing in your area?
- Do you have any savings?
- Do you have a good credit rating?
- Can you afford to perform regular maintenance?
Once you will have the answers to this question, you will be ready to consider whether you should buy your home or rent your home.
Continue reading “Buy or Rent – Which is Right for You?”
We have already discussed on this blog how to invest in real estate. But I have not really covered the reasons to invest in Real Estate in the first place. These reasons may make you want (or not) to invest in Real Estate. This is something I am still wondering whether I should invest in it or not. I know there are several reasons that make Real Estate interesting as an investment. But I have never gotten to the point of starting to invest in it.
Today, I am focusing on investing in real estate for income. This is not about owning your own house. If you live inside the house, you will not get income out of it.
In this post, we are going to see six different reasons to invest in Real Estate. There are many reasons that make Real Estate an interesting investment. But that does not mean it is necessary for every one to invest in it. On the other hand, I believe it is important to know what the investment offers. If you have others reasons to invest in Real Estate, please let me know!
Continue reading “6 Different Reasons to invest in Real Estate”
There are two main ways to reach Financial Independence (FI) faster. Either you reduce your expenses or you grow your income. We have already seen that you should do both if you want to reach FI faster. Most people are quickly reaching some limits when trying to reduce their expenses. On the other hand, growing your income is virtually limitless.
A lot of people do not focus enough on increasing their income. Even in the personal finance community, a lot of people are focusing on reducing small expenses. Whereas it is sometimes easier to get more money!
In this post, I am going to a few ways that you can use to grow your income. And of course, you are not limited to one of these ways. If you want to increase your income as much possible, you need to work on several fronts. There are other ways as well. If you know a good way to increase your income, please let me know!
Continue reading “6 different ways to grow your income”
Today, I am going to go through a simple thought experiment: What would I do if I were given one million dollars. I am thinking of several things I could with one million dollars. I am currently at the beginning of my journey towards Financial Independence. One million is more than eight times my current net worth. So this could mean a lot of different things for me!
Now, I did not invent this thought experiment at all. It was introduced by the Saving Ninja. Actually, I did not discover it on the Saving Ninja blog. I discovered it by reading about this experiment on Retire In Progress blog. You can find many answers by other bloggers in the original post. I thought it was interesting. So I decided to try it and report my thoughts on the blog.
The original thought experiment, proposed by The Saving Ninja, was in British Sterling Pounds. And Mr. RIP did it in Euros. In this post, I am going to talk about a million Swiss Francs (CHF). But, this is currently the same as a million U.S. Dollars. So, it is the same thought experiment as getting one million USD.
Continue reading “What Would You Do If You Got Given 1 Million dollars?”
Your net worth is a very important number. This is the number representing the value of what you own. We have already seen how to calculate your net worth. This is especially important if you want to become financially independent. For this, you will need to accumulate a large net worth that is able to cover your expenses.
However, something we have not discussed in details is the difference between the different parts of your net worth. In this post, we are going to discuss that exactly. You are going to see that not every part of your net worth is equal. Some parts of your net worth should be treated differently.
If you want to become financially independent, you cannot consider all the parts of your net worth as equal. Some parts of your net worth will not help reach Financial Independence (FI)! And some assets will not evolve in the same way over the years. If you are serious about reaching FI, it is very important to know of what your net worth is composed of.
To improve, you can use two different net worths. Your regular net worth as you know it and your FI net worth that will help you towards Financial Independence. So let’s see where all the different assets fit in the grand scheme of net worths!
Continue reading “Not all assets are created equal – Introducing the FI net worth”
We have seen that there are many reasons to want to reach Financial Independence (FI). Once you reach FI, you can do what you want without having to worry about money. This is awesome! You only keep working if you want to. This is something most people would want to achieve. For me, my ultimate goal is to reach FI.
There are several ways to achieve Financial Independence. Indeed, there is not a single path to go from where are you now to the point where you are financially independent. Of course, there are some similarities between some of these ways. But they are different enough. Most of the time, you will need to follow several of these ways to reach Financial Independence earlier.
In this post, we are going to see the different paths you can take to become financially independent. There are surely other ways to reach Financial Independence. But these are the main ways and the ones I know. If you know of another sure way to become financially independent, I would be glad to hear about it.
Continue reading “5 Sure Ways to reach Financial Independence”
You may not know it, but there are many ways to invest in real estate. Each of these ways have advantages and disadvantages. If you want to invest in real estate, it is important to know about these ways before doing a choice and investing in one of them. Or investing in several of them.
For now, I am not really invested in the real estate market. I just have a small position though my World ETF that has some real estate funds. But I may invest more in the future. For now, I need more stocks, but once I have got enough, I may shift a bit of my portfolio into real estate.
Let’s now see the different ways to invest in real estate. There are quite diverse. Each person wanting to invest in real estate should find a way that is adapted.
Continue reading “5 Ways to invest in real estate”
The most recent finance book I have read is “Rich Dad Poor Dad” by Robert T. Kiyosaki. This is my short review of the book. This book is very different from the others, in several ways. Generally, the personal finance community does not rate this book very high. In this post, I will give you my point of view about this book and tell you what it is all about.
As you will see, my point of view in this book is a bit varied. Some things are really good. But some things are really bad about this book. Let’s directly see what I am talking about.
Continue reading “Rich Dad Poor Dad – Book Review”