Dr. Nicholas E. Michels

The Richest Man in Babylon

Favorite Quote “Advice is one thing that is freely given away, but watch that you only take what is worth having.” — George S. Clason The Book in One Sentence The Richest Man In Babylon gives common-sense financial advice which you can apply today, told through tales and parables from the times of ancient Babylon. Why should you read […]

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Total Money Makeover

Favorite Quote “We buy things we don’t need with money we don’t have to impress people we don’t like.” — Dave Ramsey The Book in One Sentence The Total Money Makeover shows you how to stop accepting debt as normal, eliminate it forever in small increments, and build the financial future you deserve in seven steps. Why should you

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The Automatic Millionaire

Favorite Quote “The fact is, none of us really has a choice: We are all playing the money game whether we want to or not. The only question is: Are we winning?” — David Bach The Book in One Sentence The Automatic Millionaire is an actionable, step-by-step plan for building wealth without being disciplined by relying on fixed percentages,

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Ronald and Richard’s Story | Wealth Building Strategies Shared

This is a remarkable story of financial journeys that took two very different paths: The key takeaway from these two stories is that anyone can achieve wealth, and anyone can lose it. The difference lies in financial education and the choices made. The lesson isn’t necessarily to live a frugal life like Ronald but to

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Negative Media Headlines

If you, like me, sometimes find yourself getting worried due to negative media headlines, I have some valuable information to share that will help put your mind at ease and potentially make you a more successful investor. First, let’s talk about understanding stock market fluctuations. There are several levels of market movements to be aware

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Compound Interest

In this post, I discuss the concept of compound interest and its remarkable power to build wealth over time. I present a thought experiment where you have to choose between two options: a million dollars in cash or a single penny that doubles every day for 30 days. What do you think is more money?

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529 Plans Explained & Options for Unused Funds

Very Important: these legislative changes affect all our children and grandchildren!  If you are a parent or grandparent, you will want to know this information that begins in 2024. In this video, we discuss how to save money for your children and grandchildren’s education through 529 College savings plans. We address concerns about what happens

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Book Recommendation: The Intelligent Investor

Favorite Quote “Those who do not remember the past are condemned to repeat it.” — Benjamin Graham The Book in One Sentence The Intelligent Investor explains value investing, which is focused on generating steady, long-term profits by ignoring the current market and picking companies with high intrinsic value. Why should you read it? Warren Buffett says this

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Mastering Your Emotions in Investing: A Blueprint for Long-Term Success

Investing is a journey filled with both opportunities and challenges. While financial acumen and market knowledge are undoubtedly vital, there’s an often overlooked yet equally critical aspect that can significantly impact your investment journey: your emotions. In this video, we’re going to delve deep into the world of emotional intelligence in investing and uncover how

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