http://www.silverbeach.com/Money/archives/15 Thoughts by an Engineer on How Money Works and How to Make the Most of What You Have Fri, 21 Nov 2008 09:06:18 +0000 http://wordpress.org/?v=2.0.4 http://www.silverbeach.com/Money/archives/15#comment-1280 Wed, 02 May 2007 19:19:13 +0000 http://www.silverbeach.com/Money/archives/15#comment-1280 [...] If you want to be wealthy you have to get rid of most of your financial baggage. This baggage includes most loans such as credit card, student and auto loans. Paying off your Home Mortgage might be a good 30 year goal, but until all those others are gone don’t worry about your home. [...] […] If you want to be wealthy you have to get rid of most of your financial baggage. This baggage includes most loans such as credit card, student and auto loans. Paying off your Home Mortgage might be a good 30 year goal, but until all those others are gone don’t worry about your home. […]

]]> http://www.silverbeach.com/Money/archives/15#comment-1277 Mon, 30 Apr 2007 21:35:44 +0000 http://www.silverbeach.com/Money/archives/15#comment-1277 [...] If you truly want to be wealthy you need to buy good assets. Those items that put money in your pocket over time. A good asset will be worth much more over time than you originally spent on it, as well as any costs you spend to maintain it. Most good assets aren’t much fun while you own them. You can’t water ski behind them, you can’t show them off to the neighbors. They don’t make your life much easier today. But the income or capital gains that they generate over time will grow your net worth making life much easier down the road. In general buying good assets means putting off your gratification until another day. Instead of buying that PS3 you buy 3 shares of Goldman Sachs. Instead of buying that new living room sofa you purchase 100 shares of Cisco Systems. It won’t be very comfortable to sit on while watching TV, but it will grow your net worth over time instead of just filling up your house. [...] […] If you truly want to be wealthy you need to buy good assets. Those items that put money in your pocket over time. A good asset will be worth much more over time than you originally spent on it, as well as any costs you spend to maintain it. Most good assets aren’t much fun while you own them. You can’t water ski behind them, you can’t show them off to the neighbors. They don’t make your life much easier today. But the income or capital gains that they generate over time will grow your net worth making life much easier down the road. In general buying good assets means putting off your gratification until another day. Instead of buying that PS3 you buy 3 shares of Goldman Sachs. Instead of buying that new living room sofa you purchase 100 shares of Cisco Systems. It won’t be very comfortable to sit on while watching TV, but it will grow your net worth over time instead of just filling up your house. […]

]]>