Cade Hildreth

What You Should've Learned in School

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How to Supplement Your Income: 8 Real Ways to Make More This Month

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Are you exploring how to supplement your income in a realistic way? Unfortunately, it’s all to easy to find yourself stuck in the comfort of one source of income.

This is because it’s common to find a job either right out of high school or college and get used to the routine of waking up, commuting to work, and  heading home for the day. But it’s time for a change!

Knowing how to supplement your income is essential for creating a fulfilling lifestyle. You also need (yes, need) multiple flows of income to create wealth.

In an ideal world, you’d create both active and passive flows of income, but typically active income is a better place to begin when you’re starting from scratch.

This is because passive income flows tend to require money to get started while active income flows simply require energy.  [Read more…] about How to Supplement Your Income: 8 Real Ways to Make More This Month

Why 401K’s Are A Bad Idea

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Why is a 401(k) a bad idea? Why don’t rich people use them? And seriously, are they worthy of being called a scam?

There’s more than a few reasons that I think 401(k)s are a bad idea, including that you give up control of your money, have extremely limited investment options, can’t access your funds until your 59.5 or older, are not paid income distributions on your investments, and don’t benefit from them during the most expensive period of your life (child-rearing years).

Did I also mention that your 401k account value may plummet as you near retirement (it happened in 2008), you won’t be able to deploy funds into high return investments like real estate, and you’ll have to pay hefty fees to the folks on Wall Street?

Yes, they’ll collect between 1-3% in fees from you every single year. That will be estimated $138,336 over your lifetime.

Btw, your 401k withdrawals will also get taxed as ordinary income, making them subject to state and federal taxes at the time of your retirement. Today, the highest federal tax rate is only 37%, but it has floated as high as 94% (1944). There were also three decades (1950s, 1960s, and 1970s) where the federal tax rate never dipped below 70%.

Do you really want to roll the dice on what tax rate you’ll pay at retirement when today’s rates are some of the lowest in the past 100 years? 

That list is just the tip of the iceberg for why 401(k)’s are a terrible tool for wealth building and almost never used by the wealthy as a strategy for financial expansion. [Read more…] about Why 401K’s Are A Bad Idea

What Is an Accredited Investor? (And Why You Should Become One)

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Most Americans are taught very little about financial literacy. Thus, the U.S. economy is one of the largest in the world, but America ranks number 14 among countries with the most financially literate citizens.

Unfortunately, low financial literacy creates a growing divide between the rich and poor. To gain wealth in America, you have to understand how to take advantage of wealth-building opportunities.

One of the most effective ways to build wealth is through investing. However, there’s a major difference between what is known as a “regular investor” and an “accredited investor.”

Because I want you to have access to the very best investment opportunities (the types available to the wealthiest 1%), let’s explore the definition of an accredited investor. I’ll also explain the opportunities this status creates and how you can become one. [Read more…] about What Is an Accredited Investor? (And Why You Should Become One)

9 Actionable Tips for Paying Off Your Student Loans Faster

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Is student loan debt controlling not only your wallet but your life? You aren’t alone, roughly 44.7 million Americans are also suffering from student loan debt. Don’t give up hope just yet, there are some things you can do to feel in control and get out of debt faster.

While I came out of my graduate programs with a hefty six-figures in student loan debt, I used these tips for paying off my student loans in a short period of time. [Read more…] about 9 Actionable Tips for Paying Off Your Student Loans Faster

How to Work From Home in Your Pajamas (And Still Make Bank)

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There are more opportunities to make money online than ever before. Freelance and remote work positions have expanded greatly over the past decade, with an incredible amount of workers taking on these kinds of positions instead of a normal 9-to-5.

If the idea of working in your pajamas from your couch sounds appealing, looking into these opportunities is something you should consider. These positions often pay just as well (or maybe even better!) than some of the more traditional job titles you may be looking at. [Read more…] about How to Work From Home in Your Pajamas (And Still Make Bank)