A 401k is one of the most powerful investment vehicles for retirement — and it’s IWT’s favorite thing ever for several reasons: Pre-tax investments. You don’t get taxed on the money you contribute until you withdraw it at retirement age. This means you have more money to compound and grow. Free money with employer match. Most companies will match your 401k earnings up to a certain percentage. It’s basically free money! Automatic investing. The investments you make are taken from your paycheck automatically each month — which is a HUGE psychological benefit. With all these awesome benefits though comes a cost: You can’t withdraw any of it until you hit the age of 59 ½. If you do, you’ll be subject to taxes on your withdrawal as well as a 10% penalty from the federal government. This, my friends, is the monkey’s paw. It’s the deadly consequence of King Solomon’s golden touch. It’s the deal that you must carry Madame Zeroni up the mountain or you and your family will be cursed for always and eternity. Borrowing from your 401k shouldn’t be done lightly. In fact, you really shouldn’t do it at all since dipping into your 401k can severely [...]
Credit: Richard Morgenstein
“I really am a big believer in people’s creativity flourishing when they come at things from a different direction and see things in a different way.” — [...]
They say when one door closes on you, another door opens—as it did for today’s guest.
Tom Cafarella found himself working at a job he hated. One that he studied for in college and was expected to [...]
We asked members of the IWT community who have been married at least 10 years (aka “forever” in Hollywood years) to share their #1 piece of financial advice for couples.
Here’s what they said: [...]
Have you ever met someone who’s told you, “Traveling to experience different foods, sights, cultures, and people? Ew, no.” Me neither.
The point is, the majority of us looooooove to travel, but [...]
There’s a lot at stake when you walk through your boss’s door to start the “talk.” You know the one: negotiating more money.
That single conversation is too important for you to just blindly [...]
In today’s episode of The Art of Passive Income, Mark and Scott talk with Jena Rodriguez—BraveMasters.com.
Jena is a wife, mother, serial entrepreneur, love-of-all-things business, a brand specia [...]
Chocolate can help you lose weight.
No, seriously. It can. Or at least that’s what Charles Duhigg, habit expert and author of The Power of Habit, says:
“Although it seems like very dissimilar rew [...]
In this week’s episode of The Art of Passive Income, Mark and Scott talk with Grant Wise—serial entrepreneur and the founder of Real Estate Marketing University, an online media training company [...]
So you’ve crafted a winning resume …
… written an amazing cover letter …
… and you might have gotten a little ahead of yourself and started clearing out your desk.
Your hard work has paid [...]
If you had an extra hour in your day, what would you do with it?
Pick up a new hobby?
Learn a new language?
Find new ways to make money?
What if you had two extra hours, or even three? What would you [...]
In today’s episode of The Art of Passive Income—Round Table edition, Mark is joined by:
For the first Round Table [...]
Photo by Matteo Pezzi
What do roughly 1.5 million subscribers to my newsletter care about most? Or put another way, if they voted with clicks, what most caught their attention in 2018?
The 25 items b [...]
Imagine a dozen dominoes lined up in a row. Push the first domino and what happens? They all fall down.
Now take that same dozen and double it. No, triple it. No, wait — add 15,000 dominoes, branch [...]
If you want to learn how to give advice that people actually listen to, there are two things you can do:
Empathize with the person — and not act like an emotionless robot.
Find people who want to l [...]
Ah, the new year. A time for parties, champagne, and questionable decisions made because of the aforementioned parties and champagne. Before you say goodbye to 2018, there are four things you can do t [...]
The holiday season is usually a time of year that inspires people to be their best self — and “live their best life.” But a trait that’s often undervalued when living a Rich Life is genero [...]
The inverted yield curve is a graph that shows that younger treasury bond yields are yielding more interest than older ones.
And it’s TERRIFYING for financial pundits all over the world. It’s a g [...]
Stan Grof (right) with the legendary Albert Hofmann (left), the first person to synthesize LSD.
“I realized people were not having LSD experiences; they were having experiences of themselves. Bu [...]
If you’re broke, things that people consider minor purchases can be a massive undertaking for you:
Going out for meals and to bars
Paying utility bills or rent
Filling up your car with gas
“Middle class” is a common term spoken by news pundits, politicians, and that annoying friend of yours who likes to debate politics at dinner parties.
While a lot of people like to bloviate about [...]
I’ve talked about the 401k a few times before.
[cue montage of every single time I scream at you to get a 401k]
That’s only because the 401k is one of the most powerful investment tools at [...]
A good side hustle idea can open the door to unlimited earning potential.
My team and I have spent more than a decade building money-making systems that have earned my students $1,000 and more on the [...]
In today’s episode of The Art of Passive Income, Mark and Scott talk with Geoff Nicholson—GeoffNicholson.uk.
Geoff works with people all over the world—entrepreneurs, CEO’s and other high pe [...]
Insecurity is fascinating.
We hide it.
We beat ourselves up for it.
And to top it off, it seems like we’re the only ones who ever feel it.
And yet: It’s the times we feel most insecure that we g [...]
How To Steal From Yourself – A Line of Credit Case Study
In this episode of the Cash Flow Guys Podcast, I talk about the latest trends in money and more specifically lending. Borrowing of mone [...]
The two most common questions I hear about stocks are:
What stock should I buy?
When do I sell?
I’ve covered the first question before (check out my article all about stocks and bonds). That’s w [...]
“Write an interesting story, not a perfect story.” — Drew Houston
Drew Houston (@DrewHouston) is co-founder and CEO of Dropbox. Since founding the company in 2007 with Arash Ferdowsi, Dr [...]
Photo by Adam Rose
“Things that caused me so much pain and confusion as a kid ended up being really wonderful tools in my work.” — Samin Nosrat
Samin Nosrat (@ciaosamin) is a writer, che [...]
Today, I’m going to share two strategies I’ve used to get traffic to my websites from extremely high-traffic blogs like Lifehacker and sites like the Wall Street Journal.
These strategies are the [...]
Consulting is a great career choice if you love:
Exposure to a variety of industries and businesses
There are a lot of different options [...]
Noah Kagan has returned to the Smart Passive Income Podcast, and we cover it all: rebounding from rejection, asking for what you want, plotting your next move, and the mindset challenges all entrepren [...]
“The main difference was that I was willing to outwork and outdo every competitor who walked in through that door.” — Ann Miura-Ko
Ann Miura-Ko (@annimaniac) has been called “the [...]
Lo and behold! Please find transcripts for all current episodes of The Tim Ferriss Show below!
They go all the way back to episode #1 with my dear friend, world-class investor and entrepreneur Kevin [...]
Learn tips and strategies for productizing—making your client-based business streamlined and scalable—with special guest Brian Casel. [...]