Rich Tips


Author:

My name is James and I decided to start Rich Tips as a way to share financial knowledge. Many people will say that money isn't everything and depending on who they say that to, they can be either very right or very wrong. I grew up in Los Angeles, California and it was me, my mother, and my little brother. We were very poor, we were on Section 8 and any other government assistance we could have. I hated it, I hated it so much and I can go on and on about my childhood but I just wanted to get the point across that at one point in time I had nothing. I am nowhere near my goals that I've set for myself but I feel I am well on my way. I was born poor and my goal is not to be rich or have mountains of money, all I simply want is financial freedom. The ability to sustain my self and family through assets that I have acquired, in this scenario I would no longer need to work if I do not want to and I could just retire and enjoy my life. Like I said my journey is not over but I would still like to share general knowledge that I feel most people lack and this lack of knowledge may prevent them from attaining their dreams.

Focus/Topics of Rich Tips:

  • Financial advice
  • Entrepreneurs and their stories
  • Ways to make money 
  • How to manage money
  • Building wealth
  • Financial Traps

Financial Advice

General financial advice I feel most young people lack. In my opinion I feel many people have a misconception that being rich or wealthy requires the upmost luck or that you have to be born in to it. I feel most people make so many excuses about their lack of general financial knowledge and for some reason will not pick up a book or do some research. I have talked to many people about it and they think that it is harder than it actually is, I know I did at one point in time. So I will continue to educate myself and anything I find useful I will always share.

Entrepreneurs and Their Stories

Who doesn't love a success story and inspiration? It's what has driven me to take on ventures I probably never would have had the courage to do on my own. Watching people out there carve their path to success is super inspirational to me and really keeps me going on the worst of days. 

Ways To Make Money

Honestly there are millions of ways out there to make millions of dollars, so many options and some of them require little to no money to start. Sounds almost too good to be true right? Well I'm here to tell you that they aren't, in the new age of technology and the internet there are so many emerging business models that the younger generation create and take on.

How To Manage Money

This is a really important piece to me and I really struggled with managing money because of my lack of knowledge and how I was raised. You can have millions of dollars but if you don't know how to manage and maintain your wealth I guarantee that you will not be rich/wealthy for long. A good example of that are people who win the lottery, many of the winners go crazy and buy everything they think they wanted and end up back in the same position. Managing money is a part of being wealthy.

Building Wealth

I don't want to be rich only for me but for my family and potential future children. Wealth makes life easier but does not solve all problems. Wealth is something that can be passed down from generation to generation if built correctly. Wealth is not having million dollars in the bank.

Financial Traps

These are the things that always get you. You come in to a large sum of money, maybe a work bonus, or your taxes were a bit more than you expected. Instead of properly planning what to do with this money you waste it and then regret it later. I struggled with financial traps a lot because I never really had anything growing up so when I did get a little money I HAD to spend it. I've slowly grown out of that mindset though and honestly living abroad has helped me shed that mindset as well. I was 19 when I joined the Army and when I was 20 I was stationed in Germany. Europeans have a totally different mindset than Americans do when it comes to looks and "looking" like they are rich. In America if I were to were some shoes that people didn't consider popular or out of style I would be made fun of for I'm not sure how long. Although in Europe no one really cares about materialistic things.