Author name: Steve Burns

After a lifelong fascination with financial markets, Steve began investing in 1993 and trading his accounts in 1995. It was love at first trade. After more than 30 successful years in the markets, Steve now dedicates his time to helping traders improve their psychology and profitability. New Trader U offers an extensive blog resource with more than 4,000 original articles, online courses, and best-selling books covering various topics.

10 Reasons Why the Rich Get Richer and Richer (Habits of the Wealthy)

10 Reasons Why the Rich Get Richer and Richer (Habits of the Wealthy)

Wealth /

Have you ever wondered why the wealthy accumulate more wealth over time? It’s not just luck or inheritance. According to a 2024 Ramsey Solutions survey, 21% of millionaires inherited some wealth, but only 3% inherited $1 million. Most millionaires didn’t grow up wealthy, with 80% coming from middle-income or lower-income families. Additionally, inheritance isn’t a guaranteed […]

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Traditional vs. Roth 401(K)- Which Is Better for Retirement

Traditional vs. Roth 401(K): Which Is Better for Retirement?

Retirement /

When planning for retirement, one of the most crucial decisions you’ll face is choosing between a Traditional 401(k) and a Roth 401(k). Both options offer unique advantages and potential drawbacks, making the decision complex and highly personal. In this comprehensive guide, we’ll explore the key features of each plan, compare their benefits, and provide insights

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7 Habits of the Poor (That the Rich Avoid)

7 Habits of the Poor (That the Rich Avoid)

Personal Finance, Wealth /

Financial success often hinges on the habits we cultivate in our daily lives. While systemic factors undoubtedly influence economic inequality, certain behaviors can significantly impact our financial trajectory. This article explores seven habits commonly observed among those struggling financially, which wealthy individuals tend to avoid. People can take meaningful steps toward improving their financial well-being

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The Salary You Need to Be Considered Middle Class in Every U.S. State

The Salary You Need to Be Considered Middle Class in Every U.S. State

Economics /

In an era of economic uncertainty and shifting social dynamics, the “middle class” concept has become increasingly complex and nuanced. As the financial landscape evolves, so too does the definition of what it means to be middle class across different diverse American states. This article delves into the factors that determine middle-class status, offering a

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How To Retire At Age 60- Four Factors To Consider

How to Retire at Age 60: Four Factors to Consider

Retirement /

Retiring at age 60 is an appealing goal for many, but it requires careful planning and consideration. To ensure a successful early retirement, you must evaluate four crucial factors: financial preparedness, health care coverage and costs, Social Security benefits, and lifestyle and income needs. Let’s explore each of these factors in detail. 1. Financial Preparedness

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How to Achieve Your Financial Goals (using Financial Psychology)

How to Achieve Your Financial Goals (Using Financial Psychology): 7 Steps

Personal Finance /

Achieving financial goals is as much about understanding your mindset as managing your money. By leveraging economic psychology principles, you can create a robust strategy for reaching your monetary aspirations. This comprehensive guide will walk you through seven crucial steps to help you align your financial behavior with your goals, leading to long-term success and

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The 7 Income Streams of the Rich (How the Rich Make Money)

The 7 Income Streams of the Rich (How the Rich Make Money)

Wealth /

In a world where financial security is increasingly elusive, the ultra-wealthy have mastered a strategy that sets them apart: diversifying their income sources. This article delves into the seven distinct revenue streams that millionaires cultivate to build and maintain their fortunes. By understanding and potentially emulating these methods, even those of modest means can begin

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Why the American Middle Class Is Disappearing

Why the American Middle Class Is Disappearing

Economics /

The American middle class, once the backbone of the nation’s economy, has steadily shrunk over the past few decades. This decline has far-reaching implications for economic stability, social mobility, and the overall health of American society. To understand this troubling trend, we must examine the complex interplay of economic, technological, and policy factors contributing to

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Why Americans Don't Believe the Middle Class Can Afford Homes

Why Americans Don’t Believe the Middle Class Can Afford Homes

Economics, Real Estate /

The American Dream of homeownership, once a cornerstone of middle-class aspirations, is increasingly viewed as an unattainable goal. Recent surveys and economic data paint a stark picture of a housing market that has outpaced the financial capabilities of average Americans. This article explores the various factors contributing to this widespread belief and examines the potential

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