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Tom Wheelwright's Articles in Finance

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Exploding the Myths of Financial Health in a Recession The hot topic on everyone's mind right now, including radio, television and print media is how to cope with the current recession. The worst advice possible in recessionary times, or any other time, for that matter are what a lot of the analysts and talking heads are recommending today, which is businesses and investors pull back, reduce their expenditures, create a budget and save their money. Rich vs. Wealthy: The BIG Difference Is There a Difference Between Being Rich and Being Wealthy? I have often thought over the past couple of years about the difference between being rich and being wealthy. Is there a difference? If so, what is it? And how do we become wealthy? The BIG Passive Income Mistake! I've been speaking at several seminars this fall. My topic of choice is wealth strategies because wealth strategies cover it all - not just wealth, but taxes and business too. Plus, the topic of wealth strategies takes me all over the world to speak because wealth strategies cross over international borders. Where Is Your Wealth? Whenever someone asks me what to do to build permanent wealth, I answer that question with a question: Where is your wealth? Where is your wealth today and where is your wealth going? The Three (3) Pillars of Financial Health This is all about the foundation of financial success: wealth strategy. My key purpose here is to draw a clear, unmistakable distinction between wealth strategy and what usually passes for "financial planning." The Magic of Depreciation If you ever mailed an envelope containing a monthly payment to a landlord, you qualify as a rent payer. What you might not realize is that the owner of that real estate is getting lots of deductions for expenses related to owning property. Wealthy or Rich I have often thought over the past couple of years about the difference between being rich and being wealthy. Is there a difference? If so, what is it? And how do we become wealthy?