The ancient Greek word for arrogance is hubris. For instance, anyone proud enough to challenge the gods would be burned to death. As surely as night follows day, destruction follows arrogance. Warfare is filled with examples of hubris that lead to a country’s destruction or at least inflicted heavy damage to their society. Napoleon in […]
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Retirement accounts qualify for special tax treatment by the IRS. A common retirement account is a 401k, where pretax dollars from you, which are often matched by your employer, are deposited into an account and allowed to grow tax-deferred. These funds are designed to create income during retirement and are subject to premature distribution penalties
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Many would-be entrepreneurs have money tied up in retirement plans like IRAs or 401ks that could be used to fund their businesses. Many simply believe they can’t access these funds until they reach the age of 59.5 without being subject to a premature distribution penalty. That being said, there are a few ways that you
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Debt used to fund consumption, such as buying a new TV, is not a good use of debt. However, debt used to buy an income-producing asset such as a rental property, where the interest on the debt is less than the income derived from the principal invested, is considered a good use of debt. We
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Robert Kiyosaki, the author of Rich Dad Poor Dad, uses a model he calls the Cash Flow Quadrant to explain different ways income is generated. When you are an employee you know you will get a paycheck as long as you continue to work for the business, even if the business is not profitable. Earning
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