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Showing posts from June, 2014

How to become a billionaire without founding a company or inheriting your wealth

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At Unlimited Net Worth , I aim high and am serious about growing wealth.  Rather than simply aiming to become a millionaire, my ultimate goal is to become a billionaire in United States dollars (it would be cheating to use some other high inflation currencies, like the Zimbabwe dollar, where you can obtain a $100 billion note easily).  Why aim so high?  In high cost cities like New York or San Francisco, one million simply doesn�t go as far as it used to.  Becoming a billionaire is no small feat There are currently only 1,645 billionaires on the 2014 Forbes list with a staggering combined wealth of $6.4 trillion.  Approximately 66% of the list was self-made, 13% achieved their wealth through inheritance, and 21% through a mixture of the two.  The odds of being on the list are infinitesimal at 0.0000002%. It�s within reason Through persistence, dedication, and lots and lots of time, it�s definitely within reason.  Of course, the quickest path to findin...

Do you hate junk mail and telemarketers? How to hit them where it hurts.

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Junk mail continues to annoy Junk mail Although junk mail has subsided somewhat in recent years as retailers have shifted to email and other digital forms of marketing, it�s still an annoyance and a waste of paper.  In the same spirit as with telemarketers, increase the cost of their campaign by sending back the return envelopes empty. They�ll have to pay for receiving the envelope and you�ll do your part to support the United States Postal Service. Telemarketers Hate those telemarketing calls that you receive on your land line or cell phone?  They tend to come at the most inconvenient times, such as sitting down for dinner or chatting with friends.  See how long you can keep them on the line.  Time is money for telemarketers.  The longer you can keep them talking, the higher their telemarketing campaign will cost them. By increasing the cost of these marketing campaigns, companies will re-evaluate the effectiveness and think twice before engaging in annoying an...

Double your 401K contribution limit

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The IRS limits employee 401K contributions to $18K/year . If you work in corporate America, your company likely offers you the ability to contribute to a 401K plan . If you�re already contributing, you�re off to a great start. If you�re maxing out your 401K plan by contributing $18K a year and you�re not sure what to do with the rest of your income, there is now a new way to double your contribution to $36K/year. 401K options available today In most 401K plans, you have the option to contribute either pre-tax or post-tax (Roth) dollars to a 401K:  Pre-tax means that you pay no taxes today but you receive a tax bill when you withdraw your money years down the road. Post-tax (Roth) means that you pay taxes today and pay no taxes when you withdraw your money in the future, including all of the gains. Both offer advantages and disadvantages. Either option is better than investing outside of a 401K. In the past, the IRS limited contributions to $18K/year. Once you reached the limit, you...

Are you stepping enough each day? Too few steps could cost you.

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The FitBit Flex Most of us wake up in the morning, walk to the kitchen to prepare coffee or breakfast, get in the car, drive to work or school, sit down at our desks, walk to lunch, return to our desks, drive home, prepare dinner, and sit down at the television before going to bed.  Think about your day and how much you walk around.  If you�re lucky, you might clock 4,000 to 5,000 steps a day with this routine.  Many of our modern conveniences reduce the need to be active, and we�re paying a heavy toll.  The Disney movie WALL-E drove this point home. There�s more to net worth than just money As a pure definition, net worth is just about the value of your assets less your liabilities, but I�ve always believed that building a large net worth and living a healthy lifestyle are closely related.  When you live an unhealthy lifestyle, such as when you smoke, drink excessively, exercise infrequently, or make poor dietary decisions, you�ll lack the energy and the driv...