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Replacing Subtle Lies With the Elusive Obvious

By Garrett Gunderson Blatant lies are easy to recognize and avoid; the subtle lies can ultimately be more destructive because they are much more difficult to detect and uproot. Subtle lies seem to make sense and to carry a certain air of credibility. They are often supported by supposed proof and factual evidence that spread and perpetuate … [Read more...]

Exposing the Origins of Financial Myths

By Garrett Gunderson “A myth is a fixed way of looking at the world which cannot be destroyed because, looked at through the myth, all evidence supports that myth.” —Edward de Bono If, as I claim in my book Killing Sacred Cows, much of what we’re taught about money is false, then why are these myths so prevalent, and where do they … [Read more...]

How Avoiding the Stock Market Can Make You Rich

By Garrett Gunderson Most investors think they should invest their excess cash in the stock market, whether through individual stocks, mutual funds, IRAs, or other vehicles. However, this is almost always a mistake. For the most part they don’t know what they’re doing, they don’t understand what they’re investing in, they have little or no … [Read more...]

The Safest & Quickest Way to Become Debt-Free

By Garrett Gunderson Hint: It’s not about your loan interest rates. You want to get out of debt so you can reduce your risk, increase your cash flow, and have greater peace of mind, right? Here’s the fastest and safest way to do it: 1. Roll Non-Deductible Loan Interest into Deductible Loans Assuming you have enough home equity and good … [Read more...]

Balance Sheet Myths That Stifle Your Prosperity

By Garrett Gunderson Your financial balance sheet measures the difference between your assets and liabilities to determine whether you’re in debt or if you have equity (net worth). Assets are things that either generate cash flow for you, or that could potentially create cash flow. Liabilities are things that incur expenses, such as a … [Read more...]

7 Financial Mistakes to Avoid In the Next Decade

By Garrett Gunderson With the turning of a new decade comes the review of what happened in the last 10 years and the hope of what the next 10 years might bring us. Because of my philosophy of investing in your greatest asset (which is YOU) at all times, I'm going to give you my top 7 mistakes to avoid in the next decade: Mistake 1: Avoid … [Read more...]

Wealth is Created Through Unequal Exchange

By Garrett Gunderson We only make exchanges when we value what we’re receiving more than we value what we’re giving away. Economics is the science of the efficient allocation of resources. Through free exchange, all resources—material and otherwise—end up in the hands of those who value them the most, and those who value them the most will … [Read more...]

Personal Responsibility: The First Step to Prosperity

By Garrett Gunderson If you want to live an abundant life, the first step is taking personal responsibility for everything that happens in your life without using excuses or placing blame. Another term for this is self-reliance. People who lack self-reliance are dependent.  Self-reliant people are independent internally and interdependent … [Read more...]

Focus on Terms Not Price To Prosper

By Garrett Gunderson In any transaction there is price and there are terms.  For example, the price of a home might be $300,000.  If the sellers want cash at closing and will not consider negotiating on other terms, you must either come up with $300,000 cash or secure a mortgage to purchase the property. If you were to get a mortgage, the … [Read more...]

Financial Velocity Trumps Compound Interest

By Garrett Gunderson You’ve heard of compound interest being “miraculous,” but what is it? Compound interest is the concept of adding accumulated interest back to the principal, so that interest is earned on interest from that moment on. For example, suppose you owe someone $1,000, with an annual interest rate of 12 percent, for a monthly … [Read more...]