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Where’s Your Money Going? How to Track Your Expenses.
According to a 2024 Debt.com survey, nearly 94 percent of households noted that they have a budget. And yet, Americans are struggling with their expenses. With higher-than-average inflation, low wages, and high revolving consumer debt, it’s time to modify your behavior. Tracking and managing your expenses is the difference between barely making it and becoming wealthy. As you may know, the TNFG household reviews our expenses monthly or as often as needed. It’s a great opportunity to make cash flow changes instead of unexpected changes. Life happens. I repeat Negative Financial challenges will happen just as often as Positive ones. Know that they are coming and learn to adapt and…
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How Much Money Can You Make Investing in the S&P 500 through 2030
The TNFG S&P 500 year-end predictions anticipate inflation, AI-related market shifts, and retirement crises causing increased volatility. Despite potential bear markets and economic uncertainties, experts predict growth for the S&P 500, potentially reaching 10,000 by 2030. Investors are encouraged to leverage market dips and remain agile, projecting substantial long-term gains.
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Here’s the Solution to The $4 Million American Dream
Based on the last 12 months’ CPI number, the American Dream costs over $4 million. A recent analysis estimated the median cost for a family of four to live the Dream in each state was $156,666 annually. A number that seems to be rising at least 4%-5% year over year. All of this is at a time when 80% of millennials and Gen-Zers think it’s impossible to attain. As of August 2024, the median savings account balance in the United States was $8,000. Inversely, the average credit card balance for QTR 2 was $6,329 per consumer. Folks are going broke while arguing which multi-millionaire should be elected. Just 41% are…
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How to Multiply $100k Worth of Opportunities Using the Net Max Financial Plan
Reaching a total investment portfolio of $1M and now it's time to draft, plan and multiply $100k worth of opportunities.
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4 Tips on How to Beat Inflation. Stock Market Performance Between 2020 and 2024
As of April 2024, the stock market was down 5% and inflation is still up 3.4%. Although the market recovered since, day-to-day life has become unaffordable for most Americans. In 2024, money isn’t cheap anymore; proving that financial illiteracy is expensive. At this rate, your knowledge or financial awareness equals your family’s future purchasing power. If you want to compete in modern times, it’s now mandatory to invest. Investing $100 in the S&P 500 at the beginning of 2020, you would have about $145.67 at the end of 2023, assuming you reinvested all dividends. This is a return on investment of nearly 46% percent, or an annualized average return of 10.8% per year. But that’s…
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The Financial Impact of Immigrants in the United States
Immigrants have been coming to the United States since 1609. With them, they have brought culture, food and financial prosperity.
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How Not To Let Inflation Erode Your Household Wealth
According to an article by Yahoo Finance, inflation will make these seven assets unaffordable in the next 10 years. The future is expensive.
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Why Tracking Your Wealth Matters. Our Monthly Net Worth Since 2020
A monthly net worth breakdown can help you understand your finances and how you can increase your net worth. To calculate your net worth, you can subtract your total liabilities from your total assets: Factors affecting our Net Worth? I also wanted to add that we are a dual-income family with no kids (but a dog) living in the DMV. The DMV is a tri-state area comprised of the District of Columbia, Maryland, and Virginia. It’s one of those areas where the median income is typically higher than the rest of the nation. Although we don’t have high-powered C-suite careers, we were fortunate enough to land jobs with great pay. The…
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The Power of Perspective and its Impact on your Wealth
Let’s talk about learning and understanding perspective. Every time I’m interviewed about how my wife and I became first-generation millionaires, I’m at a loss for words and why. We aren’t super talented, or “exceptionally smart.” Neither of us has a unique skill set, if you don’t count my wife’s streak of hyper-competitiveness with games. Though we lack, what we do have is Perspective, in abundance. Britannica defines “Perspective” as a way of thinking about and understanding. It could be a particular issue, but for me, it’s more about the angle at which you see life. You can take identical twins, place them in a room filled with 10 people, and…
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Real Estate versus Stocks: Which Was the Better Pandemic Investment?
Ever wonder what your best move should have been? Between Real Estate versus Stocks which was the better Pandemic Investment?
