Simple Path to Wealth & Investing vs Working

Net worth – I think it is a must to track your net worth on a monthly basis, I use Excel for its flexibility. Think of yourself / your family as a business.
Planning and comparison – At the end of each year I update my rolling five year net worth plan. The coming year is in detail with years 2-5 planned at a high level. I then track my actual net worth against this.
Budget – I’ve always thought these suck, as they are no fun and to me a real …

It is essential to understand and more importantly appreciate the power of compounding to fully grasp the cost of something, whether it’s a service or software or a one off-cost. Christina from SMSF Investment Strategies left a comment on my Preparing your own Self Managed Super Fund (SMSF) Tax post that she thought you had to use software like BGL’s Simple Fund to prepare your accounts and tax. That reminded me why I choose not to use BGL or any other paid software for my SMSF accounts. The short answer …

My ten day investing brain dump will recommence in a few days.
I occasionally wonder why more people aren’t wealthy or at least heading there. For anyone or any family on above average income it is easy to get rich. If my basic understanding of statistics and compounding is correct, 50% of people should retire wealthy and should retire early!
When I go into a large bookstore I see hundreds if not thousands of books all dedicated to helping people become wealthy. There is clearly no mystery surrounding how to become wealthy …

This blog post about Your Money or Your Life by Mark Cancellieri at http://www.rationalwealth.net inspired me to write to Mark and he was kind enough to write back. Mark is a great writer and as his blog is new, you’ll probably get some of his best thoughts over the coming months. I don’t know Mark and have no reason to recommend him, except my belief that his thoughts will be worth reading.
In Mark’s email he asked about my references to Buffett. I hope to discuss Fusion Analysis and Investing more …

“The key is not the mere pursuit of wealth, but changing your beliefs and attitudes about it so you see it as a means for contribution, not the end-all and be-all for happiness.”