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How $3.4 Million Became the Price of the American Dream
Based on Investopedia, the American Dream now costs over $3 million. Well, $3,455,305 but what’s an extra $450,000 between friends? See the dream isn’t dead, the reality is that it costs a lot of money over your lifetime. Against the backdrop of sustained high prices and lingering inflation, the average American is struggling to keep up with the social media Joneses. Gone are the days of discipline and measured spending, in are the days of conspicuous consumption, higher credit card debt balances, and toxic poverty porn. Surrounded by the conversation of debt crises and financial trauma, did Investopedia drop clickbait or are they unto something? We will go through each…
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Sitting on Cash Could Cost You a Lot of Money
Cash comes with an opportunity cost – by sitting in cash, investors may miss out on the potential upside stocks could see in a soft landing, lack the protection that bonds can offer if a recession does happen, and lose out on the inflation protection that real assets have.
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We are Back for the First Time with a Millionaire
The TFG crew is BACK! Well 2/3 of us. LOL, Lawrence and Alainta catching up on life. And celebrating Mister Millionaire status (Lawrence Gonzalez) net worth. It's all joy and a bit of social critique. So what's going on around the world?
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$82,353 is the Salary You Need To Make To Obtain Millionaire Status
More People Should Build Wealth. It's Easier than You Think. Most Millennials Can and Should Consider Becoming Millionaires.
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The True Wealth of Inheritance: Cash Flow and Opportunities
Over 1 in 5 US households received an inheritance, according to the 2022 Federal Reserve’s Survey of Consumer Finances. The average American inherited nearly $60,000. While the majority will inherit zero or debt, those who will receive this windfall can expect around $266,000.
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3 things We Did to Solve the Racial Wealth Gap for Our Family
The racial wealth gap is a widely discussed and known issue in the US. While wealth gaps are prevalent worldwide, America has been on a divergent path for a while. In the second quarter of 2023, white households held north of 85% of total wealth. The median white household is hovering at $284,310 while Black wealth trails behind at less than $45,000. That’s a difference of 6.5 times. The Wealth of Two Nations: The U.S. Racial Wealth Gap, 1860-2020 did a great job summarizing how we got here. You can definitely read it for yourself. It’s filled with incredible insight into how freed enslaved people (1860) were able to converge wealth…
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How Much Money or Wealth Do You Need to Be Part of the Middle Class?
Is the middle class shrinking? Most want to be rich while no one wants to be poor. So most call themselves Middle Class to fit in. But how much income do you need? How much wealth do you need?
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How to Create $7k in Passive Income Quarterly – Q3 2023 Recap
The second quarter of 2023 was hopeful but the third quarter was a struggle. High Inflation is here to stay. A global recession is pretty much certain for 2024. In translation, get creative and earn more.
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How to Redefine Achieving Meaningful Success through Conquering Fear
There is nothing left to fear but fear itself.
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The Top Seven Most Productive Ways to Close Out the Year
And just like that the 4th quarter is here; it's not too late to be productive and close out strong. The goal is to set up the next year.
