Achieve Financial Freedom. Faster.
I’m not sure if I’ve ever explained why I chose the name of Sport of Money for my blog on personal finance. I thought there were a lot of similarities between being successful in sports and in personal finance. I also thought there would be great lessons we can learn from sports that we can … Read more
I recently came across an article on the Moneyist section of Marketwatch. The Moneyist section is similar to a Dear Abby piece where the person behind The Moneyist answers personal finance questions sent in from readers. This question happens to come from a 26 year old who makes $105,000 a year. The questioner feels very … Read more
The first online interview I have ever done since starting this blog was for Financially Alert. Financially Alert is a personal finance blog started by Michael Quan, who reached financial independence in his mid-30’s. He left the traditional 9 to 5 workforce and began focusing on what really matters to him – becoming a better … Read more
I believe anyone can be wealthy in America. In my opinion, this is still the greatest land of opportunity. I’ve been fortunate enough in the past 20 years to go from zero to over $10 million in net worth, even when living and working in an expensive city such as New York City. People talk … Read more
The most visited post in my entire website is this one I’ve written close to 1 year ago regarding how much income it takes to live an upper middle class and upper class lifestyle in New York City. Not surprisingly, the answer is it takes a lot to be in the upper middle class and … Read more
The Stock Market Drop The U.S. equity markets have made quite a nice rebound. The equity market started reflecting in earnest the health and economic effect of Covid-19 on the US. Within the span of 1 month, the market went into a nose dive. The S&P 500 went from a high of 3,386 on February … Read more
Wow, I can’t believe another year has passed. As I’ve gotten older, time moves a lot quicker. 2019 has been a great year financially speaking, especially in the US. The S&P 500 returned 31.5% including dividends. All the major US stock indices reached record highs in 2019 including the Dow Jones, Nasdaq, and the aforementioned … Read more
How did Warren Buffett achieve his great wealth? One of the tricks he employed was the mastery of “using other people’s money.” He did this in a couple of ways. First, he started an investment vehicle with limited partners as investors in the vehicle. Armed with cash from other people, he was able to go … Read more
I spent the first 3 years of my work life after college living at home with my parents. Fortunate for me, my parents live in New York City, the financial hub of the world. As someone who works in finance, New York City offered me a tremendous amount of opportunities. Therefore, after college, I decided … Read more
Charles Schwab conducted a 2019 modern wealth survey. With 1,000 American participants, Schwab asked a variety of questions pertaining to spending habits, planning, and wealth. According to the survey, Americans believe it takes an average of $2.3 million in personal net worth to be considered wealthy. The average income of the survey participants is slightly … Read more