We learned in our last post that Russia is still sorting out it’s wealthy elite. They may be struggling, but a few folks seem to have benefited from this.

At the same time, Moscow is now the city boosts the largest number of billionaires, 33 whereas NYC has only 31. It is estimated that a quarter of Russia’s wealth is in the hands of just 100 people! Some of these may be questioned for fraud and tax evasion, but with $15.2B in your pocket you might not be too worried.

Folks in NYC thought they had it bad in finding an apartment. Looking for a two to three bedroom in Moscow and you’ll pay $25k a month! Fine with your broom closet apartment? We are used to those in DC, but not at $5k a month!

Seems like some things have changed since I was there in the early nineties, but I bet the Babushkad women are still begging at churches.

Best,

Miel

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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