Buying stocks is by some people considered more or less a gamble. Especially in Germany where I come from, people tend to be great in avoiding debt (most Germans actually don't even have credit cards), having large savings accounts and an array of insurance contracts to protect them from anything that might happen. The dream … Continue reading Why Dividends rock
Traders and investors are a large minority. It doesn't really matter which country we talk about and there are certainly significant shifts between nationalities, but overall, based on total world population, investors are a rare breed. With my German background, I can say, that among my friends and colleagues there are only few who are … Continue reading Time is your biggest asset
It can't probably be repeated often enough so let me say it just once more: Being in control of your income and expenses is a crucial discipline that needs to be mastered in order to reach financial independence. Today, I would like to give some advice on the expenses side. Let me start by saying … Continue reading Conscious Spending Habits
Today I would like to clarify a few points regarding the term "passive income". There is probably no financially successful person in the world who would not preach the mantra of protecting your financial future by having multiple streams of regular income. Relying on your job alone is a risky endeavor. You are dependent on your … Continue reading What is passive income?
There are plenty of different ways to calculate your targets and goals. You can estimate total revenues, spendings, monthly targets, annual targets... but my favorite model at the moment is TTRM, which stands for: "The Time Replacement Model". The idea is pretty simple. If you are overall happy with your current lifestyle and earnings, the … Continue reading The Time Replacement Model (TTRM)