Money Outlaw Blog

Lifelong Learning is a Competitive Advanage

Network To Boost Your Net Worth

Network To Boost Your Net Worth

The word Networking draws a lot of opinions and emotions. Some think it is sleazy and some think it is waste of time. Then there are people like me that view it as invaluable. Without networking, I could not have built the Money Outlaw lifestyle. It is a critical cornerstone of being an entrepreneur and alternative investor. Networking is like any skill. Learning the right strategies and practice will turn you into a good networker.

Know Your Net Worth

Know Your Net Worth

90% of the American public has little to no net worth. Are you one of them? Knowing and being able to accurately calculate your net worth is the first step to financial independence. Using a personal balance sheet to calculate and track your net worth is one of the best financial tools you can have. However you need to know HOW to calculate it and HOW to set up a personal balance sheet. Read on to find out the answer to both.

The Power of Personal Financial Statements

The Power of Personal Financial Statements

I have met people that don’t even balance their checking account each month. If you don’t keep good financial records, your ability to manage your finances, business, or wealth-building efforts will be nearly impossible. The tool that companies use is financial statements developed by modern accounting. If this works for a business, why wouldn’t it work for an individual?

Active vs. Passive Investor

Active vs. Passive Investor

Are you an active or a passive investor? There are fundamental differences between them. One can generate outsized investment returns but put in more work, and the other often generates lower returns and has little ability to control this outcome. If you want to see which one you are and what it takes to change from one to the other, or better yet, utilize the best elements of both approaches, read on.

The Income & Expense Wealth Gap

The Income & Expense Wealth Gap

Most Americans have little to no net worth. Many have enormous debt and live far beyond their income. The idea of saving is non-existent for this group. The U.S. savings rate has been dismal for decades. Savings is how you build capital, and capital is what you use to invest, buy cash-flowing assets, and invest in businesses.

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