Is the Conventional System to Create Wealth Rigged?

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I’ve got a confession for all of you: I’m getting impatient! It was approximately 10 years ago that I first learned what a 401k was (I had never even heard of one before) and began my first steps towards saving for retirement. Like many of you, I knew the path to create wealth would be lined with hard work, lots of saving, and choosing the right investments. I took the conventional financial advice and began with a modest 10% savings rate. It wasn’t until the last few years that I’ve tried to accelerate my results by bumping my savings rate to extremely high amounts. So is it any wonder that when I look at my 401k balance and see how long I have to go that I feel I’m playing a rigged game? Sure if I stay the course I might have a … [Read more...]

Doing a Better Job Tracking My Passive Income Streams and Retirement Savings

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I’ve got to admit: 2012 was not a bad year as far as my passive income streams go! Before blogging and investing, I was relying on sign-up bonuses, credit card rewards, and small stuff like online surveys to make a little side cash. A lot can change in a year and half … Since taking a leap of faith on blogging and investing, I’ve made a lot more money than I ever thought I would from passive income. Blogging has by far been the front-runner with its endless possibilities of advertising, affiliate sales, writing, etc. After a lot of research, I also laid the first brick of my soon-to-be castle of dividend paying stocks – an effort I expect to cross $100 per month mark in no time. But one thing I regret not doing since the beginning of … [Read more...]