Quotes of the Day

If you're fortunate enough to have a seven-figure portfolio, there will be no shortage of salespeople ready to flatter you by offering access to exclusive opportunities available only to "accredited investors." These include hedge funds, private equity, peer-to-peer lending, real estate partnerships and on and on. It's possible that some of these opportunities will go on to deliver outsized returns without undue risk, but you'll likely have to accept high expense, illiquidity and a lack of transparency. You're not sacrificing anything by taking a pass and just sticking to index ETFs. And you're not missing out on anything except disappointment. [2021] - Dan Bortolotti

The 5% Rule - Annual Cash Flow = Annual Rent – (Annual Mortgage Payments + Property Taxes + Insurance + Other Fixed Expenses). Minimum Cash Flow (%) = (Annual Cash Flow ÷ Down Payment) × 100 Benchmarks: 5–6% = Moderate Risk, 7–9% = Moderate-to-Low Risk, 10%+ = Low Risk. Adjust until it either passes or proves it’s not a good deal: 1) Put more money down but keep in mind this will also reduce your return on investment (ROI); 2) Stretch the amortization (a longer amortization period such as 30 years vs. 25 lowers your monthly mortgage payment); 3) Negotiate a better price; 4) Increase the rent (if realistic) [2025] - Wayne Hillier

People are sensitive to other people in their work or home environment. Whenever someone considers making a purchase, he or she thinks about how other people may respond to that purchase decision. No one wants to be criticized. If there is a chance that the prospect will be criticized by his boss or spouse for making a particular purchase, he will refrain from making that purchase altogether. [2004] - Brian Tracy

Always get permits for any appliance replacements that you do in your condo or ask your insurance company whether they need that. Always get sufficient insurance coverage. Speak with a professional insurance broker who can lay out all the options for you. Don't just buy the cheapest insurance policy out there. [2015] - Gary Wong

The higher percentage you direct to your asset column, the higher your financial IQ. Today, we direct approximately 80 percent of our income directly into the asset column and do our best to survive on 20 percent. [2008] - Robert T. Kiyosaki