Enjoy financial freedom by reaching the land of critical mass

If you’re doing investing right, you’re saving a large percentage of your income every month (like 25-50%) and stuffing it into stocks, bonds, and real estate investments. At first, even with a high savings rate, your net worth will be low, and the money made by your investments will also be low, like maybe a few hundred dollars a month. However, as your net worth increases, your investments will make more and more money. The land of critical mass At some point, you’ll be making the equivalent of a minimum wage job from your investments, followed by a lower-middle class income.  Eventually, a magical thing will happen.  Your investments will make more than your yearly spending, and you can do whatever you want in life.  This is the so-called land of critical mass (coined by Bob Brinker of Money Talk). It takes a long time to reach the land of critical mass, because it takes a lot of money to make a lot of money.  How much money?  Well, that depends upon the investment. Continue reading ... Your patients are rating you online: How to respond. Manage your online reputation: A social media guide. Find out how.
Source: Kevin, M.D. - Medical Weblog - Category: General Medicine Authors: Tags: Finance Practice Management Source Type: blogs