Learning to Take Control of Your Future With Tangible Wealth Strategies
I met with a 25 year old college graduate this morning. It’s always a pleasure to learn from a younger generation. It’s also a pleasure to see in person that there are examples of hard working and eager millennials despite the way they are portrayed in the main stream media. He had many questions for me about financial matters and I think it’s important to share some of his questions and my answers :
- What is the Fed?
- What is a 401k and do I need one?
- What do you invest in?
- Do you have a 401k or an Ira?
After I came to grips with the fact that this young man had graduated college without ever being taught any of these concepts I
The “Fed” stands for the Federal Reserve of the United States.
If you’re a working man and you can’t hold it, live in it or on it; you don’t want it. If you can’t eat it or see it, you don’t want it. An asset is something that pays you, a liability is something that costs you money. If you buy yourself a truck and use it to perform a service that pays you; it is an asset. If you buy a truck that looks real nice and has a big payment every month that you pay with post tax dollars; it is a LIABILITY!