The Key Traits of Patient and Successful Investors

Letting your emotions dictate your habits won’t get you far. November 15, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. According to Entrepreneur Network partner Phil Town, one of the most valuable traits an investor can have is patience. If you are a patient investor and decide on good businesses, Town says there is virtually no scenario where you will not make money. Here are some of the traits of patient investors … and thus, investors who will be prepared for retirement: They have long-term goals. They are slow to buy. Most times, the people who hold off on buying companies are also taking time to do their research. Town recommends investing in no more than 10 companies — like you’re hoping to reach the limit on a punch card with 10 slots. They are confident. These investors are sure they will make money on their investments, and act accordingly.  They are […]

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How (and When) to Save During an Economic Downturn

In this video, Entrepreneur Network partner Phil Town discusses how to invest during a recession. November 8, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. If you can purchase companies at affordable, recession-level prices, you can easily get rich, says Entrepreneur Network partner Phil Town. Town talks about recession-proofing your savings by looking for bargain prices. Even investing maestro Warren Buffett says to treat the market’s fluctuations as friends and to profit with the market follies, rather than participate in them. Of course, that’s easier said than done … but it can be done. 401ks work great when your employer matches your contributions. But don’t be fooled: even with their diversified features, if the market tanks, your 401k will also suffer, as well.  According to Town, a recession is a great time to start saving. Even if you’re investing less in the beginning, any time you can save money during this economic period, you are making […]

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How to Approach Your Finances If You Want to Retire Stress-Free

In order to retire with a relaxed outlook, avoid these detrimental money traps. November 1, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. If you’re near the age of 50, the last thing you want to do before you reach retirement is slip up on your financial habits. In this video, Entrepreneur Network partner Phil Town discusses the habits you should avoid when saving for retirement.  Being too conservative with your money Neglecting to set up a will. Retiring too early. Fortunately, many of us live beyond the expected time we anticipate for ourselves, so if you’re unsure about whether you have enough saved up prior to taking retirement, it might be best to keep working. Borrowing from your retirement. Any time it crosses your mind to borrow from your retirement savings, consider how costly this decision will be for you in the long run.  Staying in the market […]

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Incredibly Simple Millionaire Traits You’d Never Expect

Maintain your discipline and keep your money. October 25, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. You might not realize it, but millionaires are often just regular people with regular jobs. As Entrepreneur Network partner Phil Town puts it, if you simply do the right things and follow the path others have established, you too can reach millionaire status. Millionaires make simple, smart decisions when making ⁠— and saving ⁠— their money.  In this video, Town describes the habits that made millionaires millionaires. People who became millionaires may have different personality traits or backgrounds,⁠ but most of them probably did the followings things: They did not spend money on unnecessary expenses. They saved what they earned. They invested their money so it grew over time.  Click the video to hear more from Phil Town. Related: How to Manage and Balance Your Family Finances With a Single Income Stream Entrepreneur Network is a premium video network providing entertainment, ewitducation […]

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How to Manage and Balance Your Family Finances With a Single Income Stream

Here’s how to live and properly talk with your partner about subsisting on one household income. October 18, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town discusses how to save money for your goals when you only have one source of income. Town recommends the following: Create a strict budget. The budget will be divided into three categories: Essentials Investing Non-essentials Communicate with your partner. Often, the partner who is not earning an income can feel left out. In order to balance this dynamic, the individual who is earning the majority of the money can pass the management of the money over to his or her partner.  Keep your lifestyle in check. Spend within a reasonable budget on the essential and non-essential items. Town emphasizes there is a unique merit to buying items used — in fact, his own childhood experiences buying used items helped instill […]

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The Right Moment to Buy a Stock at a Great Price

October 11, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner, Phil Town explains how finding just the right time to buy a business is key. How do you establish a margin of safety to make sure you are safe in future years, and how do you determine the sale price that tells you it’s the right time to buy a company?  To determine the margin of safety of the business, and determine whether it is ready for sale, start by understanding the business as much as you can and understand what will protect it. Next, set a goal of 10 percent yield for the year. If you are able to meet this level of profit, you are doing great for the year.  Watch the video to hear more strategies and turn a profit. Related: 5 Financial Choices You’ll Regret Entrepreneur Network is a premium video network providing […]

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5 Financial Choices You’ll Regret

We all make mistakes, but we can make fewer if we remain mindful. October 4, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. Regret, especially finance regret, can stick to you. In this video, Entrepreneur Network partner Phil Town discusses a handful of bad financial habits to keep an eye on. Here are five circumstances that might lead to financial regret.  Not having an emergency fund.  Lacking an automatic savings system. Not having health insurance. Buying things to keep up with others. Not investing enough in your own financial education. Town mentions that he was lucky enough to get a solid education in finance, but many people are not so lucky. This education should offer training outside speculating and diversifying stock choices.  Click the video to hear more.  Related: The Indicators That a Market Crash Is Approaching Entrepreneur Network is a premium video network providing entertainment, ewitducation and inspiration from successful entrepreneurs and […]

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The Indicators That a Market Crash Is Approaching

Phil Town describes the economic and global forces that point to a crash and what it could mean for individual investors. September 27, 2019 1 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrpreneur Network partner Phil Town discusses the signs and implications of a market crash. Some of the economic forces and events, Town explains, that are pushing and stemming from the predicted downturn include the following: A trade war with China The Dow Jones Industrial Average dipped for the second time within one year  The largest economies in the world are shrinking, including the U.S. and Germany The Federal Reserve cutting interest rates Click the video to hear more from Phil Town about the implications of an upcoming crash.  Related: Want to Make Smart Investments? Use These Expert Tips. Entrepreneur Network is a premium video network providing entertainment, ewitducation and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to […]

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Want to Make Smart Investments? Use These Expert Tips.

Finance guru Phil Town shares some of the best information he’s collected over his investment career. Read_More Related posts: 3 Tips for Becoming a Franchisee (60-Second Video) An Expert Reveals Smart Rate-Setting Tips for Your Freelance Writing Business How This Professional Skateboarder Built His Passive Income Streams Through Smart Investments Investments in Your Children’s Future Are the Best ‘Gifts’ You Can Give Them This Holiday Land Your Dream Gig With These Expert Tips Ten Expert Tips for Creating a Viral Content in 2018 11 Expert Tips on How to Successfully Grow and Scale Your Business Relax Easier on Your Next Vacation With These Smart Saving Tips

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How Do Millionaires Spend Their Money?

Not all of the wealthy spend like they’re wealthy. September 13, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town busts some of the myths associated with millionaires, including their spending habits. The two most signicant myths Town describes are the following: Millionaires are irresponsible with their money and/or spend it frivilously. Warren Buffet lives in the same five-bedroom home in Nebraska that he bought in the mid-1950s. Bill Gates, the founder of Microsoft, and Sam Walton, the CEO of Wal-Mart, both drive relatively humble cars. These big-name execs prove that you don’t need to spend like you’re a millionaire when you do reach millionaire status.  Millionaires take a lot of risks. Though the running assumption is that millionaires consistently take big swings. In reality, millionaires are often the best at taking calculated risks. What is surprisingly common is how millionaires […]

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How to Know When a Change in Stock Price Means You Should Invest in or Avoid a Company

Exercise critical thinking before jumping at the chance to invest. September 6, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town discusses the impact of certain events on a stock price, and whether those events can be helpful or destructive.  There is a definite difference between an event and a downfall. Events are triggered by fear when investors fail to consider long-term consequences. Stocks typically go on sale, explains Town, because something inspires fear in the marketplace.  A company on sale is a great investment opportunity only when it shows promise after an event — and not because it is in jeopardy of crashing and burning. An intelligent investor thinks about how recent events and geo-political moments affect and dip the value of stocks.  Though popular knowledge likes to think that a stock’s price is equal to its value, smart investors realize this […]

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The Main Reasons Recessions Happen

The fluctuations of the economy are not completely random. August 30, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. Recessions come and go. A typical, open cycle of borrowing eventually can come up against limitations. In this video, Entrepreneur Network partner Phil Town describes the recent good fortunes of the economy and why recessions happen.  Town describes a credit cycle where one person’s income eventually becomes another’s. When this cycle gets out of hand, the Federal Reserve steps in by raising interest rates. Raising interest rates affects indivduals’ abilities to make payments on items they’ve already bought, which further affects this cycle of credit. If one person who previously took out a large amount of credit enters into bakruptcy, this affects the level of credit extended to others. If people have less credit, they’ll have more limited ability to take out loans, and if people have less money, they will cut down […]

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The Myths About Baby Boomers and Retirement Savings

August 23, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town details a handful of myths about Baby Boomers and the misconception that everyone in this cohort, born between 1946 and 1964, is prepared for retirement. Also, Town dives into some tips to help the Baby Boomers better prepare for life after a career of full-time work.   Town details the first myth that Baby Boomers all have plenty of money in retirement funds. Town says this is not true, citing a recent survey of Baby Boomers, which says that 30 percent of the group have zero dollars saved for retirement. Though many Baby Boomers have pensions and benefit from Social Security, these forms of retirement can be difficult to live on, as they are meant to supplement a larger pot of retirement savings.  Click the video to hear more.  Related: How to Determine If a […]

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How to Determine If a New IPO Is Worth the Risk

Phil Town advises to pump the breaks a bit before investing. August 16, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town explains the pros and cons of investing in an initial public offering (IPO). In order to determine if you should invest in an IPO, consider the following: Is it worth the price?  Will the price plummet? Uber and Lyft’s stock prices took extreme dips after they went public in 2019.  Are you prepared to bet on the unknown, considering there is no background information on the new company? At the end of the day, Town says there is no harm in keeping a new IPO on your watchlist, but you should exercise logic and reason before you invest in it.  Click the video to hear more.  Related: Why Millionaires Don’t Invest in These Things Entrepreneur Network is a premium video network providing entertainment, ewitducation […]

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Why Millionaires Don’t Invest in These 4 Things

Phil Town describes some tactics rich people don’t use to grow their fortunes. August 9, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town explains how the rich often grow their wealth differently from others. Here are some of the common investments wealthy people avoid: Bonds. These investors are just interesting in maintaing their capital and not interested in compounding their money.  Prepaid plans. Gold. Investing into something that you cannot immediately turn into cash is a risk. Gold, inevitably, is not an asset that earns money over time.  Trends. Town references a modern-day phenomenon, cryptocurrency, as a trend that is taking off. Town personally knows a lot of people who invested in cryptopccurency and lost it.  To hear what methods Town recommends, and the method millionaires swear by, click to watch the full video.  Related: Adopt These Smart Money Habits When […]

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Are You Wasting Money on Your 401(k)?

Phil Town discusses the pros and cons of using this popular workplace investment method. August 2, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. Is it a wise investment decision to put your money in a 401(k)? In this video, Entrepreneur Network partner Phil Town discusses the advantages and disadvantages of investing in a 401(k). And is it really worth it? According to Town, investing is always worth more than not investing at all, especially if your employer is matching your financial contributions.  However, Town explains there are many shortcomings to a 401(k), such as limited options in terms of where your money is invested and high fees paid to managers. To hear all the advantages and disadvantages, watch the full video. Related: Adopt These Smart Money Habits When Stock Prices Skyrocket Entrepreneur Network is a premium video network providing entertainment, ewitducation and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities […]

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Can Investing Make You a Millionaire Overnight?

Phil Town breaks down some misconceptions about investing. July 26, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town describes the difference between the expectations and the realities of investing. Town explains that many financial advisors often do not have a personal interest in how well their clients’ investments perform.   Town notes that one of the best strategies you can adopt when investing is to be patient. Patience is a key investor trait, one that is more integral to successful investing than natural intelligence. In order to make your best investing decisions for real life, Town lists a few misplaced expectations surrounding investing.  Investing will make you rich overnight. Though investing can make you rich, you must be patient. Overnight successes, Town says, make for terrific stories but are extremely rare. Effective investing will not make you a millionaire overnight, but it can make you a millionaire […]

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Adopt These Smart Money Habits When Stock Prices Skyrocket

Patience is a virtue in life and investing. July 19, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. Entrepreneur Network partner Phil Town says that the higher the stock market capitalization-to-GDP ratio is, the more confident you can be in saying that the market is overpriced, which can make it difficult to find value. To find success in pricey times, Phil Town recommends a few tips. To start, stay patient. Make sure you are staying alert to good value and good opportunities. Use the time you don’t spend investing to research promising companies and build up your savings, so you can strike when the time is right. Click the video to hear more.  Related: How Warren Buffett Got Rich by Following What Makes Him Happy Entrepreneur Network is a premium video network providing entertainment, ewitducation and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and […]

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How Warren Buffet Got Rich by Following What Makes Him Happy

If you’re actively investing in companies that stoke your interests and follow your values, you’ll see great returns. July 12, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town explains how passion can simplify the entire investment process. For example, Town points out how the Oracle of Omaha Warren Buffett invests in Coca-Cola and drinks a Coke every day. Buffett also famously starts each day by eating a McDonald’s breakfast, another company in which he has invested. While Buffett’s investments in McDonald’s, Coca-Cola and See’s Candies might not be very health-conscious, it’s important that Buffett maintains a connection to each one. He also creates connections through his rabid reading habits. Town shares that Buffett is known to read about 300 pages a day, including multiple newspapers.  Click the video to hear more about how Buffett manages his investments while staying true to himself. Related: The […]

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The Right (and Wrong) Times to Sell Your Long-Held Stock

If you’re looking to sell, do a review of this convenient list to confirm you’re making the right decision. July 5, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Phil Town details a few instances where it is a good — or bad — idea to sell a long-held stock.  According to Warren Buffet, the most ideal investment is one which you can hold onto and watch grow for an infinite amount of time, building your money over long durations of time. However, if you are considering selling a stock — these are a few times where it is very wise to sell. For one, if a company has changed its company story, especially one that seemed to be the crux of its identity, it could be time to move on. Town also recommends selling when you are presented with a better opportunity. Even if your […]

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