By now most investors are aware that Limited Liability Companies (LLCs) are designed to help insulate the owner (member) of the LLC from the liabilities that may arise on an investment property held within the LLC. What has drawn confusion and massive amount of debate is whether or not an investor should create a [...]
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Why You Need To Stop Acting Rich…
by Jason Hanson | September 30, 2009Well, you need to stop. Thomas Stanley who’s the author of “The Millionaire Mind” (which was fantastic) has a new book out called “Stop Acting Rich and Start Living Like a Millionaire.” Now, I have not read this new book yet, but I do have some advice which could save you thousands of dollars in the long run.
Why Not To Buy A BMW
I started investing in real estate in college and was able to make some decent money in my early 20’s. Then again, any money in your early 20’s is decent. And I ended up wasting a lot of it by doing immature things. For example, I had a BMW. I only had it for a short time because I realized it wasn’t me and I felt stupid driving the car around. I’ve also wasted a good amount of money on going to Atlantic City and Las Vegas.
Yes, I certainly believe in having fun, but you need to be smart and save your money–at least 10 percent of it. However, I’m not writing to you to try to get you to save your money. That’s common sense. The reason I want you to stop acting rich is to protect your assets and keep yourself from being a target of fraudsters.