Mike Torres

How to Create a Long-Term Wealth-Building Plan: Your Path to Financial Freedom

Did you know that only 33% of Americans have a written financial plan, yet those who do have 3.2 times more money saved for retirement than those without one? I've shot from the hip in my 20's and then finally started to get my plans

10 Wealth-Building Habits of Self-Made Millionaires: Success Secrets Revealed

Did you know that despite popular beliefs, the majority of millionaires are self-made, having built their wealth from scratch rather than inheriting it? Over the years I've had the opportunity to know and befriend many millionaires and learn about their financial success stories, and the pattern is unmistakable!

7The 7 Stages of Wealth: How to Progress from Zero to Financial Freedom

Did you know that there are 7 stages of wealth building and only a small percentage of people reach them all in their lifetime? I was shocked when I first learned this! The journey from financial zero to true freedom isn't a straight line—it's a

How to Start Building Wealth from Scratch: A Beginner's Guide

Did you know that 56% of Americans can't cover a $1,000 emergency expense without going into debt? I've been there too! It's not a good feeling living in survival mode. It can feel like you're treading water and waiting for your

The Importance of Diversification for New Investors: A Beginner's Guide to Smart Portfolio Management

Did you know that a majority of Americans who suffer major investment losses have most of their money in just one or two types of assets? I've spent years helping new investors avoid this common pitfall, and there's one strategy that stands above the rest: diversification.

How to Budget for a Big Purchase: Your Debt-Free Planning Guide

Want to know something shocking? A recent survey found that 60% of Americans went into debt for their last major purchase! But here's the thing - it doesn't have to be that way. Years ago, I was making light conversation with a co-worker at a previous

Best Online Brokerages for New Investors: The Ultimate Beginner's Guide

Would you believe that over tens of millions of Americans open new brokerage accounts each year? That trend has only grown in 2025, with more people than ever taking control of their financial futures through investing. I still remember opening my first brokerage account back in 2010 - I was

10 Simple Budgeting Tips to Take Control of Your Finances

Did you know that 64% of Americans now live paycheck to paycheck, including many six-figure earners? I've seen a ton of people make great money and still struggle keeping up with bills and have nothing to show for all of their hard work at the end of the

Complete Guide to Home and Auto Insurance: What You Need to Know in 2025

Here's a shocking statistic: 40% of Americans are underinsured for their homes and vehicles, putting their financial security at risk! I've spent years during my time in roofing sales interacting with the insurance industry, and let me tell you - understanding your coverage options doesn'

Portfolio Management Strategies: Expert Guide to Growing Your Investments in 2025

Did you know that investors who manage their own portfolios can save themselves 1 to 2% in fees annually compared to having a broker managing it for them? I should know, I used to charge that to clients for managing their accounts. Here's the thing though, the overwhelming

What Are Dividends? A Simple Explanation for New Investors

Ever wondered how investors make money beyond just buying and selling stocks? Most people think that you have to set aside massive amounts of money to buy real estate or take a leap into starting your own business. That is simply not the case! In fact a huge benefit is

5 Best Minimalist Backpacks Under $100: Simplify Your Carry

Let me tell you a secret: I used to be the king of overpacking. I took the military philosophy of "doing more with less" to the point of stuffing one bag with enough clothing to last for a 6 to 7 month deployment. My old backpack looked like

How to Stay Debt-Free: A Complete Guide to Avoiding Debt Relapse

Here's a startling fact: 78% of Americans who become debt-free fall back into debt within a year! I've seen this heartbreaking cycle repeat itself far too often in my previous years as a financial advisor and even those closest to me. It seems like they'

How to Open Your First Brokerage Account: A Beginner’s Guide for 2025

Thinking about investing but don’t know where to start? Opening a brokerage account is the first step to growing your wealth! My use of brokerage accounts have varied throughout life. In the beginning I just started out investing with a brokerage account along with a Roth IRA. Over the

Top 5 Low-Risk Investment Options for New Investors: A Beginner's Guide

Did you know that 63% of Americans aged 18-29 believe investing is "too risky" to try? I get it - taking that first step into investing can feel overwhelming! When I first started I was always questioning what I was doing and whether or not I was on

Emergency Savings vs. Debt Repayment: What Should You Prioritize?

Did you know that 57% of Americans can't cover a $1,000 emergency expense without going into debt? I've seen firsthand how this financial tightrope walk between saving and paying off debt can feel overwhelming. The good news? You don't have to choose completely

Crypto Wallets Explained: How to Store Your Cryptocurrency Safely

Cryptocurrency is revolutionizing finance, but securing your digital assets is becoming a hotter topic these days. In 2023, over $4.3 billion in crypto assets were stolen from unsecured wallets, highlighting the critical importance of choosing the right crypto wallet. With billions lost to hacks and scams, choosing the right

Is Investing in Cryptocurrency a Good Idea for Beginners? A Complete 2025 Guide

Did you know that 83% of millennial millionaires now own cryptocurrency? Yet, despite this, 91% of beginners lose money in their first three months of trading. I started getting asked about cryptocurrency more and more around 2017 when Bitcoin was the main topic in the industry. Like many, I didn&

What Are Stocks? A Complete Beginner's Guide to Stock Market Investing

Ever wondered how people grow their wealth through the stock market? Nearly 60% of Americans own stocks, yet many still don't understand how they actually work. I remember feeling completely lost when I first heard terms like "equity," "dividends," and "market cap."

Investing 101: The Complete Beginner's Guide to Smart Investing

Did you know that 56% of Americans now own stocks, yet many still feel overwhelmed by investing? I get it - I remember how intimidating the stock market seemed when I first started! When I joined the military the first thing my dad told me to do was meet with

How to Avoid Common Budgeting Mistakes Beginners Make

A lot of people treat budget like a four letter word. I know I did for the longest time. Actually I prefer the term "expense plan" to the word budget. Contrary to popular belief, it doesn't mean you need to live like a hermit and abstain

investing

Compound Interest Explained: How to Grow Your Money Exponentially

Want to know the secret that turned Warren Buffett's initial investment into billions? Here's a mind-blowing fact: if you invested $10,000 at age 20 with an 8% annual return, you'd have over $217,000 by age 60 - and that's without

checking

6 Common Money Mistakes (and How to Avoid Them)

Whether you're a 1099 contractor or W2 employee, managing your money wisely shouldn't feel like rocket science, but even the smartest people can fall into common financial traps. I'll be the first to admit to being guilty of this. It's easy for

planning

Top 10 Budget Planners to Help You Save More in 2025

Did you know that people who use budget planners save an average 32% more money than those who don't track their spending? I discovered this the hard way after years of wondering where my money went each month. Managing your finances doesn't have to be stressful—

investing

The FIRE Movement: Pros, Cons, and How to Make It Work for You

Imagine retiring decades before your peers and having the freedom to live life on your own terms! That’s the promise of the FIRE movement—Financial Independence, Retire Early. But is it all smooth sailing? I've been on this path for the last few years and I can