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I was talking to an old neighbour about finances and stuff the other day.
The discussion turned towards how it takes more and more money to maintain a middle-class standard of living.
He's a doctor.
When I mentioned that inflation is the silent little thief that is responsible for making it harder to pay the bills he stated, "Yeah, but when the costs of food and gas go up my income will go up too ... so it's no big deal."
I used to think like that.
But it's a very dangerous conclusion.
Let us explain why, but first some data...
It shouldn't be any big surprise any longer that the U.S. spends a lot more money than it earns in taxes.
The U.S. government currently takes in approximately $2.3 Trillion in tax revenues every year.
It spends approximately $3.6 Trillion.
That a pretty big difference ... they're s...
U.S. Stats Canadians Should Know About
I was talking to an old neighbour about finances and stuff the other day.
The discussion turned towards how it takes more and more money to maintain a middle-class standard of living.
He's a doctor.
When I mentioned that inflation is the silent little thief that is responsible for making it harder to pay the bills he stated, "Yeah, but when the costs of food and gas go up my income will go up too ... so it's no big deal."
I used to think like that.
But it's a very dangerous conclusion.
Let us explain why, but first some data...
It shouldn't be any big surprise any longer that the U.S. spends a lot more money than it earns in taxes.
The U.S. government currently takes in approximately $2.3 Trillion in tax revenues every year.
It spends approximately $3.6 Trillion.
That a pretty big difference ... they're s...
Little Habits Compound Into Huge Results
Photo: planeta
Is Warren Buffett Missing The Obvious?
Why is arguably one of the most successful investors of all time churning out comments that any of us can poke holes in?
Many people swear by his annual shareholder letter and hold it up as the gospel of investing.
But his latest one posted in February has some absolutely strange comments in it.
On page 19, you'll find this comment:
"The major asset in this category is gold, currently a huge favourite of investors who fear almost all other assets, especially paper money (of whose value, as noted, they are right to be fearful). Gold, however, has two significant shortcomings, being neither of much use nor procreative. True, gold has some industrial and decorative utility, but the demand for these purposes is both limited and incapable of soaking up new production. Meanwhile, if you own one ounce of gold ...
Gutting The Pig – And Other Exciting Childhood Memories
Photo: Olav Rokne
Your Ideas Stink. But Your Implemention Rocks.
Photo: areenetay
Fire Fighting for Profits & Freedom
All Nick and myself wanted to do was invest in some cash flowing properties and maybe write a few articles a month.
That's it.
Nothing else.
But this year, that's not even two months old, we're fighting wildfires like two California forest fire marshals.
We're doing training classes on weekday evenings.
We're doing classes on weekend mornings.
We're fighting battles with marketing material that should have worked like gangbusters - that didn't.
We're dealing with several staffing issues.
There are vendors and contractors that have dropped the ball on us and need to be replaced.
Some that we've used for years ... gone bad.
There was a website that was wasting about $1,600/month on ineffective advertising that had to be pulled down and replaced with a completely new website ... immediately.
Our own brokerage we...
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