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Kiyosaki calls it “Rich Dad Scam #6” — Did you fall for it? — You own your home, and (most likely) make monthly mortgage payments. If you believe Robert Kiyosaki of “Rich Dad Poor Dad” fame, if you think your house is an asset, you’ve fallen for what he calls “Rich Dad Scam #6.” Kiyosaki’s Claim: Your House Is a Liability Kiyosaki defines assets as things that put money into your…

Financial pros offer ideas you probably never considered… — As mentioned in my previous piece, despite the relentless increase in the cost of a college education, such a degree is still incredibly valuable. Your Best Way to Fund Education: 529, UTMA, Taxable Portfolio? Financial pros weigh in on your 3 top options…themakingofamillionaire.com There, with the help of six financial pros, we explored the pros and cons of the 3 top options for funding your kids’ college education —…

Financial pros weigh in on your 3 top options… — Despite the relentless increase in the cost of a college education, such a degree is still incredibly valuable. Not convinced, ask Talia Diaz. In a recent piece on new research about millionaires, she reports, “Only 38 percent of the general population graduated from college — but a whopping 88 percent…

Unless you’re wealthy yourself, stop trying to tell us what “the wealthy” do or don’t spend money on! — I’m sorry, but I’m tired of people claiming to know what “the wealthy” do or don’t spend money on, when reading on proves they have no idea. To avoid shaming anyone, I won’t name names, but here’s the latest list I ran across of 10 things the wealthy supposedly “never”…

Debt Doesn’t Kill the Rich the Same Way It Kills the Poor — Writing colleague Rocco Pendola often takes positions I heartily disagree with. Some examples: Renting is always better than buying a home We shouldn’t strive for retirement You should drive cheap (used) cars However, as much as I disagree with these notions for most people, I accept that they’re perfectly valid…

Why you need to stop saving, and level up… — We each start our money journey from different points. Each of us is born into a different level of affluence, a different familial situation, different innate talents, and an ethnic background and gender that can help or hinder us. We each have different early-life and early-career experiences. Each of us…

A tax-law wrinkle that let us save thousands can save you even more… — When we come across an article, the first thing we do is filter — figure out if it’s useful or at least interesting for us. So, if this piece isn’t for you, let me save you a few minutes… Who This Article Isn’t For Straight and to the point, stop reading here if: You don’t…

Higher-ed costs have skyrocketed over the past 40+ years, but are still worth it — here’s how you can help your kids maximize the value at the lowest cost — If you have (or plan to have) kids, encouraging them to get a college degree and helping pay for it may be one of the greatest gifts you can give them. The Value of Higher Education A college education offers great benefits. According to American Radio Works, even having “some college education” increases lifetime earnings…

Can you cover a multi-hundred-thousand-dollar financial catastrophe? If not, this one’s for you… — A couple of years ago, a friend asked me if I had long-term-care insurance (LTCI). Since both of us are self-employed, and closer to 60 than 50, it wasn’t just idle curiosity on his part. Neither of us has employer-sponsored coverage to help our families cope with the financial fallout…