People talk a lot about passive income. This is not a thing. Look, there's two ways to get wealthier and passive income is not part of that equation, but what's really important for people is how we should spend money.Cuz I've written about money and finance and investing for 20 years. And I can tell you the correlation between how much you spend and how happy you are. It can exist, but it is not as simple as you think.Like if you're unhappy with your life, it is a very easy assumption to make that if you h ...

After years of financial concerns accompanied by criticism over spending on things like avocado toast and expensive coffee, the tide may be turning regarding the financial health of some young people. https://t.co/xNqEajoqix ...

Financial Perspective - Americans on average say they would need $520 thousand a year to feel rich [1] - Americans making under $50 thousand felt they needed $157 thousand a year to feel comfortable [1] - Those making $100 thousand or more said they would need $246 thousand [1] - About 14% of all US households make $200 thousand or more every year [2] - 62% of people with salaries over $300 thousand a year struggle with credit card debt [2] Behavioral Analysis - Earning doesn't actually make you feel rich, spending does [2][3] - When in accumulation mode, it's very difficult to feel rich [3] - Earning more and feeling like you're still on a hamster wheel is what a lot of high earners, not rich yet (HENRYs) experience [3] - High earners may have been living above their means when they weren't nearly making as much money and now they're just continuing to add more and more [4]

I can't stand it when I see kids that are making 70 grand a year spending $28 for lunch. I mean, that's just stupid. It's just think about that in the context of that being put into an index and making 8 to 10% a year for the next 50 years.The best test I do with my kids' friends, too. Go into a closet. Go into your closet and look at how much you have.You don't wear because you either bought it because you thought you were going to wear it and never wore it or wore it once and you end up wearing 20% of you ...