The following is a guest post from DollarSprout.
When it comes to building wealth, there are many technical steps and strategies you can follow. And if those technical strategies are what you are lacking, there is no shortage of expert information available.
One piece that is often forgotten, however, is the impact an optimistic money mindset can have on your financial success. It’s an important topic to discuss, as more and more research is showing just how beneficial a positive money mindset can be for building wealth.
What is a Money Mindset?
In general, your mindset is made up of your attitude and beliefs. Therefore, your money mindset is the attitude and beliefs with which you approach money.
Your money mindset is at the core of how you make financial decisions and whether or not you achieve your financial goals.
The following post is by ESI from ESI Money, a blog about achieving financial independence through earning, saving, and investing (ESI). It’s written by an early 50’s retiree who achieved financial independence, shares what’s worked for him, and details how others can implement those successes in their lives. He is also the author of a free ebook titled Three Steps to Financial Independence and spends a lot of his time interviewing millionaires.
Several months ago, a friend recommended I give Reddit a try. He said there was lots going on at the site and I would enjoy it.
"Enjoy" was not the first word I thought of when he mentioned it. I think I was more in the "fear" camp initially.
The following is a guest post from Melissa Blevins at Melissablevins.com.
The main idea behind the classic book As a Man Thinketh by James Allen is that man is the sum of his thoughts. In other words, if you think negatively, you'll reap negative consequences. If you have a positive outlook of abundance and gratitude, you'll receive positivity and abundance.
Lack mentality comes from a place of scarcity.
The opposite of abundance, lack will keep you from reaching your fullest potential and will block positive energy. I've noticed a huge shift in my own mindset from one of scarcity (or lack) to one of positivity and abundance.
It wasn't easy, and it took a lot of work, but I believe in the power of changing your life by changing your thoughts. It's possible for you, too, but you have to recognize the signs of a scarcity mindset.
The following is a guest post from Your Money Geek.
Planning for early retirement can be intimidating. The available information online varies widely on how much money you will need to retire. Some of the available data can be downright discouraging, suggesting you may require millions of dollars to retire early.
The easy answer to how much you should save for retirement is "as much as possible." In a perfect world, we would all work great jobs, have the foresight to save massive amounts of our earnings, and hit financial independence as quickly as possible.
The following is a guest post by Riley from Young and the Invested.
Real estate investing often meets unexpected pitfalls, such as acquiring a money pit, handling overly needy tenants, or buying in an area which did not measure up to your expectations. These are all the nature of the business and should be accounted for before you enter the market.
In my case, I am a landlord who encountered two unexpected, yet informative experiences early in my real estate investing career. In a classic cause and effect scenario, one major instance of damage led to the discovery of a safety hazard in need of immediate action.
The following is a guest post from Hank Coleman at Money Q&A.
This review is sponsored by Prudential. All opinions are from the author.
Personal finance is just that - personal. In today's world of smartphone apps and fintech, it's often hard for consumers to receive detailed and actionable financial strategies online. But, that's precisely what LINK by Prudential is doing for its customers.
LINK by Prudential is an experience that combines online, phone, and video chats to help you develop your own financial roadmap for success. And, because Prudential backs LINK with its insurance, investing, and financial planning experience, you can shop for financial products and solutions to your problems all from one company.
The following is a guest post by Scott from Making Momentum.
After listening to countless hours of the best personal finance podcasts and pouring over the top recommended books on money, there were two concepts ever-present.
Manage your spending like the Millionaire Next Door and continue to diversify your income streams or make focused efforts to grow existing ones. If you can compound wins through the 1-2 punch of those concepts, you will expedite the timelines to reach your financial goals.
The following is a guest post by Alexander from daytradingz.com
It has been proven that long-term money investments offer the best returns concerning the time expenditure associated with such investments. However, even speculative investments with a very short time horizon can generate profits. Day trading is one of the most popular speculative investment strategies. In this article, you will learn more about the different types of day trading.
Scalping
Scalping is an intra-day trading strategy, and it is applied by traders who attempt to complete round trip trades with the aim of making profits within very short periods, typically within seconds or minutes (a round trip is another word for buying and selling the whole position).
The following is a guest post from Barbara A. Friedberg from Robo-Advisor Pros.
When I mention to my friends that I’m passionate about fintech and robo-advisors, I’m typically met with a blank stare. Next come the follow up questions:
“A robot advisor, what’s that?”
“What the heck is a robo-advisor, I’ve never heard of that?”
So, I begin my story; robo-advisors are a new-ish way to invest your money, get professional money management and free up time to do the stuff you really enjoy.
Now, many folks tune out as the “money and investing” topic comes up. It’s typical to get a “What have you been up to recently?” comment at this point, in a not-so-subtle attempt at changing the subject.
But, not one to quit, I explain that you can grow your wealth – a lot – on autopilot with a robo-advisor. As soon as I mention hundreds of thousands of dollars, I have their attention.
The following is a guest post from Millionaire Mob.
Allocating assets is very important. Actually, it’s likely the most important component for building sustained wealth over time. If you can master budgeting and saving, congrats! You are onto the next step of building wealth… Allocating your assets efficiently.
If you are seeking financial freedom, you must think about your asset allocation now. Not in the future. You must create a plan that works and most importantly, is realistic.
It’s okay to feel overwhelmed with where you should put your money, that’s natural. If you have a plan for success or an outline of how to invest your money, you will feel much less overwhelmed. Plus, you’ll feel a lot less guilty if you want to splurge on spending every once and awhile.
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