Category: Money

These tactics can can add up to millions in tax savings over a lifetime. October 3, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. To help entrepreneurs maximize tax savings and build long-term wealth, every school should be teaching their students these seven tax tips in financial education classes. As millions go back-to-school, the majority never learn this information in home economics and business courses. And because taxes are anyone’s greatest expense, a class on this topic should be required for every high school and college student.  What most people do not understand is that simply by increasing your understanding of the tax code, you can learn how to legally reduce your taxes by 10-40% permanently, which can add up to millions in tax savings over a lifetime. Related: 5 Ways That Billionaire Warren Buffett Pays a Lower Tax Rate Than His Secretary The good news for entrepreneurs is […]

All the money in the world won’t make a difference if you don’t have these five things. October 2, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. As an entrepreneur, you put too much time and energy into your venture not to make massive amounts of cash. Bringing in money is vital for you and your team members, who depend on you for their livelihoods. But some things are more important than money and ignoring them will make your money worthless. Here are the top five things that should take priority over the dollar in your day-to-day. 1. Your faith  This isn’t religious faith, although that can be part of it. The faith I’m talking about is the faith you have in yourself, your dream and your business. Without this faith, it doesn’t matter how good your product or service is. I’ve seen doubt destroy businesses that could […]

This infographic charts the probable timeline of the first person to have a $1 trillion (or $1 million million) dollars. October 2, 2019 2 min read The number crunchers at Comparisun have analyzed the last five years of data of the world’s richest companies and individuals to predict when they’ll join the Trillion Dollar Club. You can see the entire list here.  This is hardly exact science, and in all likelihood, none of these entrepreneurs will ever have $1 trillion. Who knows, maybe you’ll launch the next global platform that reduces these big boys to zero. Maybe this fun chart will help inspire you to do what even the most famous businesspeople of today have yet to accomplish. Predicting the world’s first trillionaires (infographic) Jeff Bezos may have lost an estimated $38 billion in his recent divorce, but the Amazon CEO is still the richest person on the planet. According to Comparisun, his net […]

Transform your career and make money by building meaningful relationships. July 16, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. It pays to be a people person. Done correctly, being a people person can pay in a very literal sense. For me, it’s helped build my businesses, created countless opportunities and has been the foundation for every success I’ve achieved. This may sound like a daunting truth to the non-networker or introvert, but here’s good news: I’ve created and proven a winning formula after years of experience and trial and error. It’s gone through many iterations, but these are the steps that lead to what I call the Velocity of Relationships. 1. Become a habitual networker. Your network can’t grow if you’re not constantly focused on it. Fortunately, there are a handful of daily tasks that will get you into the habit of cultivating a perpetually growing […]

Never mind the naysayers. Earning a high income or achieving wealth is not out of reach. June 14, 2019 6 min read This story originally appeared on fee.org This summer, thousands of moms and dads will load their children onto buses and hug them goodbye as they head off to camp to pursue their childhood dreams. Many of these kids will devote their time to practicing their curveballs and base stealing on the diamond. Undoubtedly, all of them will be dreaming of becoming the next Mike Trout or Christian Yelich. But what are the odds that the kid sitting in the fourth row of that bus will actually make it to the big leagues? Slim, yet this kid in the fourth row is joyfully sent off to camp every year. Why is that? Because playing the game is fun, and there are lessons to be learned from goals that seem […]

Information and inspiration are valuable commodities in the entrepreneurial world. May 28, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. In every industry, there are Key People of Influence. Their names come up in conversation, they attract opportunities, they make more money and have more fun.  Key People of Influence (KPIs) are different from traditional Influencers associated with “influencer marketing.” Influencers focus on increasing their follower count on social media and aren’t taken seriously unless they have over 100,000 followers. In some industries, it takes a million followers to be considered an influencer. For an influencer,  income comes when brands pay to promote products to their followers.  Key People of Influence typically have a smaller but more respected profile; people know who they are and are clear about their value. Some Key People of Influence have just a few thousand high-quality followers while others are a little […]

Bhavin Turakhia and his brother Divyank started their billion-dollar journey with a $375 loan. April 16, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Recently I had the pleasure of spending time with self-made billionaire Bhavin Turakhia. Bhavin is 39 years old, he was born in India to middle-class parents and has built and sold two companies for more than $1 billion.  He and his brother Divyank launched their first tech venture, Directi, with a $375 loan from their father in 1998. They sold four of their web presence companies — BigRock, LogicBoxes, ResellerClub, and Webhosting.info — to Nasdaq-listed web-hosting firm Endurance International Group, for $160 million in 2014. The brothers’ next venture was an adtech business called Media.net that sold for $900 million less than seven years after its launch.  What sets Turakhia apart from most technology entrepreneurs operating at this scale is that he has […]

The secrets to achieving this seemingly elusive goal are far more systematic than you might think. April 16, 2019 11 min read Opinions expressed by Entrepreneur contributors are their own. Want to become a millionaire? Better yet, how about making a million dollars per year? Maybe more? If that’s something you’re reaching for, join the club. It’s a goal sought after by countless souls on the planet. In fact, one study conducted by TD Ameritrade discovered that 53% of millennials expect to become millionaires in their lifetimes. The question is, how realistic is that dream?  Clearly, without a plan, there’s not much hope for anyone looking to make a small fortune or hit any big goal for that matter. But seven percent of millennials surveyed in that study think they’ll hit that illustrious 7-figure mark by the time they turn 30. Can they actually do it? Whether most people think it’s […]

Pro gamer Nick ‘Marksman’ Overton explains how to make money and have fun as he prepares for the Newegg + CLG Fortnite Challenge. April 8, 2019 5 min read Did your parents ever tell that video games would rot your brain? Did they also mention that video games could also make you fabulously wealthy? Nick Overton makes a killing, literally and figuratively, as a professional Fortnite player. Last year, the 27 year old from Iowa better known in gaming circles as “Marksman” left a long trail of dead digital competitors in his wake — and made $500,000 in the process. Entrepreneur caught up with the sharp-eyed assassin in advance of his appearance with other members of his esports team Counter Logic Gaming at the Newegg + CLG Fortnite Challenge, a Fortnite event being held at The Hulu Theater at MSG in New York City on April 24. The event, free to […]