When Your Income Becomes Your Enemy

Today, we’re going to explore what it’s like to have a high income, and how a high income can actually get in the way of wealth-building. Mo’ Money, Mo Problems, as the late Biggie Smalls would say.

I have absolutely enjoyed and benefitted from a generous income, and I don’t expect any sympathy for high-earning individuals. That’s not what I’m going for here. 

When Your Income Becomes Your Enemy

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No one, no matter what their income, is immune to making a bad investment. In fact, the poor and underinformed are preyed upon by payday lenders, infomercials promising riches, and unsavory websites offering get-rich-quick schemes.

A Whole New World… of Investments

As an accredited investor, you’ve either got a net worth of a million dollars or more, excluding your primary home, or you’ve got steady income of at least $200,000 as an individual or $300,000 as a couple.

Accredited Investor Status

Before you even considering investing, consider the fact that even a successful business can ruin friendships and strain family relations. A failed business is even more likely to create ill will.

Friends and Family… and Business?

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