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Progress believe to be true.
This is intended to be a sort of quick reference sheet. This is not an
exhaustive list and will be added to continually as time permits.
1) The availability of financial information in the world is in general too
low.
2) Bad investment advice is rampant.
3) What people do outside of their day jobs to benefit themselves
financially is often more important than what they do inside of their day
jobs.
4) There are many paths to financial success, and each person's path
should be different than everyone else's.
5) Traditional investing - in 401k accounts, mutual funds, bonds,
Certificates of Deposit, and other similar investment vehicles - do not
have a high enough return to be strong investment choices.
6) There is a large amount of excellent financial information available
from excellent sources, and many times more poor financial information
available from poor sources, and the goal of this site is to determine
which is which for the benefit of the readers.
7) Not all debt is bad, but most of it is. In general, debt that enables you
to survive (eat, sleep, etc) and debt that increases the money in your
bank account or otherwise gains you money over time is good. Debt for
most non-necessary expenses is bad.
8) Paychecks from day jobs should be used to cover bare necessities and
beginning of investing and/or building businesses. Profit from investing
and/or side businesses should be used to purchase things that would
otherwise qualify as bad debt (like a big flat screen TV).
This is intended to be a sort of quick reference sheet. This is not an
exhaustive list and will be added to continually as time permits.
1) The availability of financial information in the world is in general too
low.
2) Bad investment advice is rampant.
3) What people do outside of their day jobs to benefit themselves
financially is often more important than what they do inside of their day
jobs.
4) There are many paths to financial success, and each person's path
should be different than everyone else's.
5) Traditional investing - in 401k accounts, mutual funds, bonds,
Certificates of Deposit, and other similar investment vehicles - do not
have a high enough return to be strong investment choices.
6) There is a large amount of excellent financial information available
from excellent sources, and many times more poor financial information
available from poor sources, and the goal of this site is to determine
which is which for the benefit of the readers.
7) Not all debt is bad, but most of it is. In general, debt that enables you
to survive (eat, sleep, etc) and debt that increases the money in your
bank account or otherwise gains you money over time is good. Debt for
most non-necessary expenses is bad.
8) Paychecks from day jobs should be used to cover bare necessities and
beginning of investing and/or building businesses. Profit from investing
and/or side businesses should be used to purchase things that would
otherwise qualify as bad debt (like a big flat screen TV).
| Lifetime Progress Philosophy |