If you are truly focused on becoming wealthy, the best way to go about it is to look at what others have done to get there and follow their strategy. In the case of UK’s wealthiest people, it seems that building up their pension […]
What do investment bankers, consultant physicians, management consultants, technology professionals and corporate executives have in common? If you believe the popular perception, the people in this category enjoy fabulous lives. They have high profile, rewarding and well remunerated jobs. As a result, they build […]
What is the fastest way to become wealthier? Saving, investing, starting a side business or getting a great education are all things that will set you on the path to financial independence. These are also things that take years and sometimes even decades to […]
These days, you can hardly find a more divisive topic than investment banking salary and bonus levels. They are picked on by governments, criticised by media and either envied or derised by the public, depending on the individual. Most of all, it’s a topic […]
About a year ago, I changed jobs and left my old employer for a competitor. The place I used to work at had a pretty decent pension plan with a generous baseline level and good employer matching program. There are few things I like […]
One of the key reasons I started Banker On Fire is to help people make better financial decisions. I get very, very frustrated when I see family members, friends and colleagues make choices that end up costing them thousands or tens of thousands of […]
I never cease to be amazed at how much misinformation and bad advice exists out there when it comes to building wealth. Sometimes the bad advice is given in good spirit and with the best intentions. In other situations, people are trying to capitalize […]
Life, liberty and the pursuit of happiness are the three unalienable rights in the US Declaration of Independence. These are replicated in various forms in the constitutional documents of many other countries, at least those that have regard to the quality of life of […]
What always suprises me about propety investments is how many people put significant chunks of their net worth into real estate without having a fundamental understanding of real estate investing. Sure, you can sometimes get lucky and make money. After all, many people got […]
After real estate, consistent investment into the stock market over a long period of time is the second best way to build wealth. My target portfolio allocation to stocks is about 45%. I keep the other 45% in real estate and 10% in cash […]
Credit card use (or abuse) is one of the most contentious topics in the FIRE community. Some people – usually in the “I will skimp and save my way to FIRE” category – swear you should avoid them. Others might be more ambivalent. Fundamentally, […]
Now that we are finally getting some sunshine and warmer weather, many of us are eagerly anticipating the summer months ahead. With holidays, summer camps, barbeques, weekends outdoors and everything else summer has to offer, now is the perfect time to do some financial […]
I strongly believe that real estate is one of the most (if not the most) powerful tools retail investors can use to build true, sustainable wealth. Think of the well-off people you know or have come across in your life. Chances are, not only […]
Conventional wisdom dictates that you should always look to maximize your income. Unfortunately, conventional wisdom is also often wrong. Instead of maximizing your income, you should be optimizing your income. You should also expand the definition of income to capture all household income as […]
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