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Search resuls for: "Smolinski"


9 mentions found


☆ A 33-year-old self-made millionaire shares the 2-part 'financial freedom road map' that helped him build wealth
  + stars: | 2024-10-12 | by ( Kathleen Elkins | ) www.businessinsider.com   time to read: +8 min
Erik Smolinski shares the 'road map' he used to build wealth and achieve financial independence. He also provides steps anyone can take to build wealth, starting with opening a brokerage account. Part 1: Understand 3 'wealth levers'According to Smolinski, there are three "wealth levers" that you have to use in order to build wealth. Next, link your bank account to your brokerage account and initiate your first transfer. Over time, you'll learn to live without the chunk of money you're setting aside for your future.
Persons: Erik Smolinski, —, Smolinski, that's, you've, I'm Organizations: Service, Marine Corps
☆ Real estate pros agree that rental income isn't 'passive' and are turning to more hands-off strategies
  + stars: | 2024-07-18 | by ( Kathleen Elkins | ) www.businessinsider.com   time to read: +7 min
It sounds simple enough — rent comes in and, ideally, it's greater than the rental expenses, resulting in positive cash flow — but real estate investors agree that rental income shouldn't be categorized as passive. "You hear that real estate investing is passive, and that's certainly not been my experience," New England-based investor Tess Waresmith, who owns five units, told Business Insider. But when I'm not actively buying, I don't spend much time on real estate." Real estate syndicationWith real estate syndication deals, a group of investors pool together their capital to purchase a single property managed by the syndicator. He recommends starting with an online search for "real estate syndicates" or "commercial real estate syndicates" if you're specifically interested in commercial deals.
Persons: —, that's, Tess Waresmith, Stephen Yin, I'm, Carl, Mindy Jensen, we've, Mindy, Erik Smolinski, Smolinski, hasn't Organizations: Service, Business Locations: New England, Los Angeles, Birmingham, Colorado
☆ A stock trader who consistently beats the S&P 500 and returned 118% in his best year shares how he's investing his money in 2024 — and what ETF he would add to his portfolio if he was a 'set and forge
  + stars: | 2024-05-15 | by ( Kathleen Elkins | ) www.businessinsider.com   time to read: +6 min
Courtesy of Erik SmolinskiHe says he has a long position in iShares Russell 2000 ETF (ETF, IWM) and ​​iShares 20+ Year Treasury Bond (ETF, TLT). AdvertisementThe portfolio addition for the hands-off investor: the iShares Russell 2000 ETFSmolinski recognizes that, as an investor, he's "more active than I imagine most people want to be." For the everyday investor who wants to be more hands-off, he recommends buying the iShares Russell 2000 ETF. This investment tracks the Russell 2000 Index, which measures the performance of small caps. That would be the next expression, so: looking at strong sectors, strong sub-sectors, then finding the leading stocks within those strong performing sub-sectors."
Persons: —, Erik Smolinski, he's, Smolinski, He's, Russell Organizations: Service, Business, Marine, Treasury Bond, Nasdaq Locations: California, Norway, iShares Russell
☆ A financially independent 32-year-old who built wealth trading stocks explains why he's moved nearly half his net worth into real estate, and his most lucrative properties
  + stars: | 2023-12-02 | by ( Kathleen Elkins | ) www.businessinsider.com   time to read: +5 min
"Since then, my lowest return has been 13.78% in 2018," the 32-year-old California-based Marine vet told Business Insider. This story is available exclusively to Business Insider subscribers. While the stock market is his bread-and-butter, he's been gradually diversifying his portfolio and adding real estate in the mix. About two years ago, Smolinski broke into the commercial real estate investing space. "I will maintain this position until things start to change: If all of a sudden the commercial real estate has a bad three-year run, okay, I will reallocate.
Persons: Erik Smolinski, he's, Smolinski, He's, we've, I'm Organizations: Business Locations: California, Encinitas , California, Fort Lauderdale , Florida, Arizona, Las Vegas
☆ A financially independent 32-year-old who grew up in a cash-strapped household shares the simple but life-changing money advice he received from a high school teacher
  + stars: | 2023-10-04 | by ( Kathleen Elkins | ) www.businessinsider.com   time to read: +6 min
Without the encouragement of his teacher, he wouldn't have started investing as early as he did — and may not have even started at all. One of the most popular passive investing approaches is to buy an index fund. Insider has spoken to a handful of investors who have used index investing to build wealth . More than 95% of their stock-market money is in three index funds : the Vanguard Total Stock Market Index Fund ( VTSAX ), the Vanguard Total International Stock Index Fund ( VTIAX ), and the Vanguard Emerging Markets Stock Index Fund ( VEMAX ). But she learned through trial and error that investing in index funds is simple and effective.
Persons: Erik Smolinski's, Smolinski, wouldn't, He's, Erik Smolinski Smolinski, ​ ​, that's, Brennan, Erin Schlagbaum, Chloé Daniels, That's Organizations: Apple, Netflix, Microsoft, Market Index, Vanguard, Index
☆ A stock trader who consistently beats the S&P 500 and returned 52% in his best year shares 4 of his favorite investing books
  + stars: | 2023-10-01 | by ( Kathleen Elkins | ) www.businessinsider.com   time to read: +3 min
Erik Smolinski had been self-educating on finance since high school, when one of his teachers recommended he look into investing. He went to the school library, picked up a couple of books, and started learning about basic investing concepts. He's read a handful of investing books and shared four of his top picks with Insider. He's a "big fan" of the author, Lawrence McMillan, who has years of experience trading options. Smolinski also likes anything by the author Euan Sinclair, who has ​​decades of professional options trading experience and a PhD in theoretical physics.
Persons: Erik Smolinski, Smolinski, He's, Lawrence McMillan, Richer, William Green, Charlie Munger, Jack Bogle, Jack Schwager, Stan Weinstein, it's, Euan Sinclair, Warren Buffett's, Warren Buffett, There's Organizations: William Green Financial, Top Locations: Bull
☆ A financially independent stock trader shares his biggest mistake that he says resulted in a 30%+ drawdown — and the changes that helped him average a 25% annual return for 5 years
  + stars: | 2023-10-01 | by ( Kathleen Elkins | ) www.businessinsider.com   time to read: +5 min
I don't know what's going on. "That's a really, really dangerous point for all traders: When you first start, you don't know anything and you know you don't know anything; then, you spend a bunch of time and effort learning; and now you think you know something but unfortunately, you still don't know what you don't know." Ultimately, Smolinski's mistake, which he categorizes as the "most pivotal moment in my trading career," forced him to reevaluate his trading proficiency and strategy. Reevaluating his strategy and getting 'super organized'Smolinski didn't have a trading plan up until his first big loss. However, his account drawdown prompted him to create a blank Word document and start his trading plan, which has grown to 388 pages.
Persons: Erik Smolinski, he'd, Dunning, Kruger, Smolinski
☆ A financially independent, 32-year-old options trader who started investing in high school shares 2 strategies that helped him return 25% a year on average for the past 5 years — and 52% in his best y
  + stars: | 2023-09-28 | by ( Kathleen Elkins | ) www.businessinsider.com   time to read: +8 min
Erik Smolinski started working odd jobs, anything from splitting wood to selling Christmas trees, as early as 12. Since he started trading as a teen in 2007, he's only posted two negative years: his first two years. Setting a specific return goal also helps keep him focused during his red-hot years. He created detailed trading logs and plansAs an active trader, Smolinski believes that having both a trading plan and a trading log are essential. It's titled "Wealth Development and Trading Plan" and is broken out into various sections, including "strategy outlines."
Persons: Erik Smolinski, Smolinski, —, Mel, he's, that's, I'm, he'll Organizations: Apple, Netflix, Marine Corps Locations: San Diego, San Diego , California
☆ Capitol Street's Ipsita Smolinski on how to play Medicare's new drug price negotiation
  + stars: | 2023-08-29 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCapitol Street's Ipsita Smolinski on how to play Medicare's new drug price negotiationIpsita Smolinski, Capitol Street healthcare analyst, joins 'Squawk on the Street' to discuss the drugs on the list for price negotiations, the role that generic medicines play, and much more.
Organizations: Capitol Street
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