.Five Freedoms
.Five Freedoms
Jonathan Clements | January 25, 2020
FOR THREE YEARS, I lived on Roosevelt Island, in the middle of New York City’s East River. It’s a wonderful place—a quiet, friendly, low-crime oasis in the middle of one of the world’s largest, most frenetic cities.
During my time there, the Franklin D. Roosevelt Four Freedoms Park opened on the island’s southern tip. The park is named after a 1941 FDR speech, where he articulated “four essential human freedoms”: freedom of speech, of worship, from fear and from want.
FDR’s speech was inspiring. Managing money is altogether more prosaic. Still, I’d argue that our pursuit of money is also about a hunger for freedom—with five dimensions:
Five Freedoms
Jonathan Clements | January 25, 2020
FOR THREE YEARS, I lived on Roosevelt Island, in the middle of New York City’s East River. It’s a wonderful place—a quiet, friendly, low-crime oasis in the middle of one of the world’s largest, most frenetic cities.
During my time there, the Franklin D. Roosevelt Four Freedoms Park opened on the island’s southern tip. The park is named after a 1941 FDR speech, where he articulated “four essential human freedoms”: freedom of speech, of worship, from fear and from want.
FDR’s speech was inspiring. Managing money is altogether more prosaic. Still, I’d argue that our pursuit of money is also about a hunger for freedom—with five dimensions:
1. Freedom from fear.
We all want a sense of financial security—and yet all too many folks lead fragile financial lives. If our income barely covers our expenses, we may be okay if it’s a typical month. But so few months turn out to be typical.
We face frequent financial shocks, some large, some small. The car breaks down. The roof needs to be replaced. We lose our job. If we have scant savings and little financial breathing room in our monthly budget, such shocks can leave us scrambling to cover the bills and send our anxiety soaring.
As I mentioned last week, a Consumer Financial Protection Bureau study found that the sum we keep in liquid savings—meaning cash, checking accounts and savings accounts—has a huge impact on financial well-being. The price to escape much of our financial fear? All it may take is a few thousand dollars tucked away in the bank.
2. Freedom from financial dependence.
We’re all dependent on other folks. Even billionaires need others to produce the goods and services they consume, to buy the investments they sell and to purchase the products their businesses make.
But there are degrees of financial dependence—and the more dependent we are, the shakier our financial life can seem. I don’t like being financially dependent on others, and I can’t imagine many do.
To continue reading, please go to the original article here:
61 Possible Questions to Ask at Your Exchange Appointment
.61 Possible Questions to Ask at Your Exchange Appointment
EXOGEN : WHICH QUESTIONS FROM THIS LIST WILL YOU ASK AT YOUR EXCHANGE APPOINTMENT?
DO YOU KNOW WHAT ANSWERS YOU WANT TO HEAR FROM BANKERS WHEN YOU ASK THEM THESE QUESTIONS AT YOUR EXCHANGE APPOINTMENT?
(DO YOU KNOW THE CORRECT ANSWERS TO THESE QUESTIONS ONCE YOU ASK THEM TO THE BANKER?
IS THIS PART OF YOUR PLAN AND STRATEGY?
Questions:
1. WHAT TYPE OF BANK ACCOUNTS DO YOU HAVE AVAILABLE?
2. WHAT IS THE FDIC COVERAGE ON THIS ACCOUNT?
3. CAN YOU EXPLAIN TO ME HOW THE FOLLOWING BANK ACCOUNTS OPERATE?
A. NON INTEREST BEARING ACCOUNTS
B. MULTI CURRENCY ACCOUNTS
C. MULTIPLE CURRENCY ACCOUNTS
D. (THE DIFFERENT TYPES AVAILABLE)
E. INTEREST BEARING ACCOUNTS
61 Possible Questions to Ask at Your Exchange Appointment
Posted at Dinar Recaps Archives on 7/7/2019
Note: .These may be a good starting point to take with you when you go to exchange. Not all of these questions may apply to everyone...Just use what you believe fits your own personal circumstances~ Thank You
EXOGEN : WHICH QUESTIONS FROM THIS LIST WILL YOU ASK AT YOUR EXCHANGE APPOINTMENT?
DO YOU KNOW WHAT ANSWERS YOU WANT TO HEAR FROM BANKERS WHEN YOU ASK THEM THESE QUESTIONS AT YOUR EXCHANGE APPOINTMENT?
(DO YOU KNOW THE CORRECT ANSWERS TO THESE QUESTIONS ONCE YOU ASK THEM TO THE BANKER?
IS THIS PART OF YOUR PLAN AND STRATEGY?
Questions:
1. WHAT TYPE OF BANK ACCOUNTS DO YOU HAVE AVAILABLE?
2. WHAT IS THE FDIC COVERAGE ON THIS ACCOUNT?
3. CAN YOU EXPLAIN TO ME HOW THE FOLLOWING BANK ACCOUNTS OPERATE?
A. NON INTEREST BEARING ACCOUNTS
B. MULTI CURRENCY ACCOUNTS
C. MULTIPLE CURRENCY ACCOUNTS
D. (THE DIFFERENT TYPES AVAILABLE)
E. INTEREST BEARING ACCOUNTS
4. WHAT AMOUNT AM I REQUIRED TO LEAVE IN EACH ACCOUNT?
5. WHAT OTHER PRODUCTS AND SERVICES WILL BE PROVIDED TO ME TODAY WITH THESE ACCOUNTS?
6. WHAT ARE THE FEES ASSOCIATED WITH THESE BANK ACCOUNTS?
7. DOES YOUR BANK HAVE A WEALTH & TRUST DIVISION SEPARATE FROM THE RETAIL SIDE OF THE BANK?
8. I NEED SOME CERTIFIED CHECKS MADE PAYABLE TO (abcd) CAN YOU ASSIST ME?
9. HOW MUCH CASH CAN I TAKE WITH ME WHEN THIS APPOINTMENT IS COMPLETED?
NOTE: LIMITED CASH AND A CERTIFIED CHECK IS WHAT WE RECOMMEND
10. IF I COME BACK TO EXCHANGE MORE WILL I HAVE THIS SAME RATE?
11. WHAT PRODUCTS & SERVICES WILL THE WEALTH MANAGEMENT TEAM PROVIDE?
12. EXPLAIN TO ME HOW THE SWEEP PROCESS WILL WORK?
13. WHAT ARE THE ADVANTAGES & DISADVANTAGES OF THESE ACCOUNTS?
14. WILL LOANS AND LINES OF CREDIT BE PROVIDED?
15. IS THIS ACCOUNT ACTIVE TO RECEIVE BANK WIRES NOW? (EXPLAIN THE PROCESS)
16. WHAT PRODUCTS & SERVICES WILL COME WITH THE WEALTH MANAGEMENT TEAM?
17. PLEASE GO OVER ALL OF THE DOCUMENTS WITH ME I WILL BE SIGNING?
18. TELL ME A LITTLE BIT ABOUT THE HISTORY OF THIS BANK?
19. HOW ARE MY DEPOSITS PROTECTED AGAINST BANK COLLAPSE, GOVERNMENT THEFT, AND BANK THEFT?
20. WHAT KIND OF INTEREST RATES WILL I BE LOOKING AT?
21. WHAT TYPE OF CREDIT CARDS AND DEBIT CARDS DO I QUALIFY FOR NOW?
22. WHAT ARE MY CHECKING & SAVINGS ACCOUNT OPTIONS?
23. IF I HAVE QUESTIONS TOMORROW WHO DO I NEED TO CONTACT?
23. DO YOU HAVE A BUSINESS CARD?
24. IS THIS CURRENCY EXCHANGE TAXABLE AND WHAT IS THE RATE OF THE TAX?
25. WILL THIS TRANSACTION BE REPORTED TO FINCEN?
26. TELL ME ABOUT YOUR ONLINE BANKING (NOTE: WE DO NOT ADVISE ONLINE BANKING)
27. WHAT IS THE COST TO EXECUTE TRADES, , BONDS, ETC?
28. WHAT TYPE OF ADDITIONAL INSURANCE CAN I PLACE ON MY MONEY VIA PRIVATE BANKING & WEALTH MANAGEMENT
29. IS THERE AN EXCHANGE WINDOW IF I HAVE MORE CURRENCY TO EXCHANGE?
30. IS MY MONEY PROTECTED AGAINST DEVALUATION OF THE USD?
31. TELL ME ABOUT YOUR BANK PERKS?
32. ARE THERE ANY STIPULATIONS WITH THE CONTRACT RATE? (IF AVAILABLE)
33. WHAT ARE THE STIPULATIONS WITH THE STREET RATE?
34. WHAT ARE THE KEY POINTS OF THE NDA (IF APPLICABLE)
35. CAN I CONTACT MY ATTORNEY BEFORE I SIGN THESE DOCUMENTS?
36. IF I DO NOT TAKE THIS APPOINTMENT WILL MY RATE CHANGE?
37. WHAT ARE THE STIPULATIONS WITH THE MARKET RATE?
38. CAN YOU SHOW ME THE RATES ON THE SCREEN PLEASE?
39. CAN I HAVE A COPY OF THE DOCUMENTS FOR MY LEGAL TEAM
TO REVIEW?
40. WILL THE RATE DROP IF I COME BACK TO EXCHANGE MORE CURRENCY?
41. IF I HAVE MORE CURRENCY CAN I COME BACK AND EXCHANGE AT SAME RATE?
42. IF I HAVE MORE CURRENCY ARE THERE DIFFERENT RATE TIERS?
43. ARE THERE ANY TIME LIMITS ON RATES OF EXCHANGE?
44. CAN YOU EXCHANGE INTO LOWER DENOMINATIONS?
45. IS THERE AN EXPIRATION ON THE LARGE NOTES?
46. IS THERE A CAP ON THE AMOUNT I CAN EXCHANGE WITH YOUR BANK?
47. CAN YOUR BANK ASSIST ME WITH RESERVES/LAYAWAYS AND HOW
DOES THAT PROCESS WORK?
48. CAN I EXCHANGE WITH MY LLC, IBC OR TRUST?
49. AM I EXCHANGING INTO NEW TREASURY NOTES?
50. IF I USE AN MCA (Multi Currency) ACCOUNT WILL MY CURRENCY STAY IN THE
CURRENCY OR CONVERT TO USD.
51. WHAT IS THE INSURANCE COVERAGE ON MY DEPOSITS?
52. AM I EXCHANGING INTO FEDERAL RESERVE NOTES OR TREASURY NOTES?
53. CAN YOU EXPLAIN YOUR BANKS BASEL STATUS & HOW DID YOUR BANK RATE IN BANK STRESS TESTS?
54. HOW MUCH DOES YOUR BANK HAVE IN DERIVATIVES?
55. HOW WOULD YOU RATE AND COMPARE YOUR BANK TO OTHER INSTITUTIONS?
56. HOW HAVE THE NEW OCC REGULATIONS, VOLCKER RULE, DODD FRANK, & BASEL REQUIREMENT IMPACT YOUR BANK?
57. CAN YOU EXPLAIN TO ME HOW YOUR FINCEN REPORTING WORKS?
58. WHAT TYPE OF ACCOUNT ARE THESE FUNDS GOING INTO AND I DO NOT WANT TO COMINGLE DIFFERENT CURRENCIES AND WOULD LIKE SEPARATE ACCOUNTS FOR EACH CURRENCY?
59. WHAT IS THE DIFFERENCE IN A CURRENCY EXCHANGE AND A CURRENCY INVESTMENT WITH YOUR BANK?
60. WHAT OTHER OPTIONS ARE AVAILABLE IF I DECIDE TO EXCHANGE MORE CURRENCY AND IS MY EXCHANGE RATE NEGOTIABLE
61. PLEASE SHOW ME THE RATES CURRENTLY ON YOUR BANK SCREEN BEFORE I EXCHANGE..
.Investing Quotes That Will Make You Think Differently About Money
.Investing Quotes That Will Make You Think About Money Differently
As you begin investing your money, sometimes you need some strong investing quotes to help continue to shape your mindset.
Sure, these quotes may mean nothing if you do not take action and practice what resonates with you.
But sometimes these quotes about investing money can spark the drive you need to make better financial decisions.
And besides that, these quotes can serve as healthy reminders as you become a top-notch investor yourself. Additionally, as a bonus, I added some investing stats at the end.
Investing Quotes That Will Make You Think About Money Differently
As you begin investing your money, sometimes you need some strong investing quotes to help continue to shape your mindset.
Sure, these quotes may mean nothing if you do not take action and practice what resonates with you.
But sometimes these quotes about investing money can spark the drive you need to make better financial decisions.
And besides that, these quotes can serve as healthy reminders as you become a top-notch investor yourself. Additionally, as a bonus, I added some investing stats at the end.
The Best Investing Quotes
While there are tons of investing quotes out there, I decided to slim it down to the best ones and a selection of my favorites.
Some of these quotes will be from years ago and others might be more recent and from well-known people.
1. “A lot of people with high IQs are terrible investors because they’ve got terrible temperaments. You need to keep raw, irrational emotion under control.” — Charlie Munger
2. “Behind every stock is a company. Find out what it’s doing.” — Peter Lynch
3. “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” — Albert Einstein
4. “I will tell you how to become rich. Close the doors, be fearful when others are greedy. Be greedy when others are fearful.” — Warren Buffett
5. “All intelligent investing is value investing. Acquiring more that you are paying for. You must value the business in order to value the stock.” — Charlie Munger
6. “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” — Robert G. Allen
7. “The individual investor should act consistently as an investor and not as a speculator.” — Ben Graham
To continue reading, please go to the original article here:
.12 Financial Sins
.12 Financial Sins
John Lim January 23, 2020
THE FINANCIAL markets are often quick to punish investment sins. By contrast, if we err with our borrowing, spending and other personal-finance issues, problems might not show up until years later—but the damage can be just as great. Here, to complement last week’s list of 12 deadly investment sins, are 12 deadly personal-finance sins:
1. Pride: Keeping up with the Jones by buying luxury cars and fancy clothes.
Antidote: Realize the folly of buying depreciating assets you don’t need, with money you don’t have, to impress people you don’t like.
2. Greed: Operating with a “never enough” money mentality. A reporter asked billionaire John D. Rockefeller, “How much money is enough?” His response: “Just a little bit more.”
Antidote: Generosity. Giving away money will loosen its emotional grip on you—and make you happier as well.
12 Financial Sins
John Lim January 23, 2020
THE FINANCIAL markets are often quick to punish investment sins. By contrast, if we err with our borrowing, spending and other personal-finance issues, problems might not show up until years later—but the damage can be just as great. Here, to complement last week’s list of 12 deadly investment sins, are 12 deadly personal-finance sins:
1. Pride: Keeping up with the Jones by buying luxury cars and fancy clothes.
Antidote: Realize the folly of buying depreciating assets you don’t need, with money you don’t have, to impress people you don’t like.
2. Greed: Operating with a “never enough” money mentality. A reporter asked billionaire John D. Rockefeller, “How much money is enough?” His response: “Just a little bit more.”
Antidote: Generosity. Giving away money will loosen its emotional grip on you—and make you happier as well.
3. Lust: Getting divorced.
Antidote: Invest more time and energy in your marriage.
4. Envy: Comparing your financial state to that of others. Since there will always be someone with apparently greater wealth, such comparisons often lead to envy and discontent.
Antidote: Instead of comparing yourself to others, work to develop gratitude for what you have.
5. Gluttony: Falling into debt. If money saved is financial progress, money borrowed is often a step backward. As I’ve mentioned before, going into debt to pay for today’s consumption is the path to financial slavery.
Antidote: With the exception of taking out a mortgage or student loans, if you don’t have the cash to pay for something in full, save up until you do.
To continue reading, please go to the original article here:
.Magnitude Matters
.Magnitude Matters
Rand Spero January 16, 2020
WHY DON’T WE spend our time and energy on financial issues that have the greatest impact? We’ll drive to a more distant gas station to save 10 cents a gallon, but fail to do all the maintenance needed to extend the life of our car. What lies behind this sort of behavior?
The savings from getting the best price per gallon is concrete and immediate, while maintaining our car is long term and abstract. It’s simply easier to focus on the 10 cents.
I have a relative who stayed at a $500-a-night luxury hotel in downtown Boston. He emailed me to bring him water when I visited, because the hotel charges $5 per bottle.
Magnitude Matters
Rand Spero January 16, 2020
WHY DON’T WE spend our time and energy on financial issues that have the greatest impact? We’ll drive to a more distant gas station to save 10 cents a gallon, but fail to do all the maintenance needed to extend the life of our car. What lies behind this sort of behavior?
The savings from getting the best price per gallon is concrete and immediate, while maintaining our car is long term and abstract. It’s simply easier to focus on the 10 cents.
I have a relative who stayed at a $500-a-night luxury hotel in downtown Boston. He emailed me to bring him water when I visited, because the hotel charges $5 per bottle.
Yes, the hotel is pushing the envelope with its water bottle charge, but my relative claiming he won’t pay “on principle” seems like a stretch.
Such “injustices” occur when we have concrete price expectations, while we happily tolerate other, much higher costs.
Deciding on a college is a huge investment of time and money. Yet as my family dashed from one campus visit to the next, I wondered if we were being good consumers. Were we prioritizing colleges based on which tour guide captured the interest of our daughter?
Perhaps we needed to slow down and do more extensive research. When my daughter decided to apply early decision to a nearby university, we suggested she visit the school a second time. She spent a full day talking to students and sitting in on classes, and came back enthused. It proved to be a good fit.
The importance of considering the financial magnitude of a decision became apparent when I went house shopping with a friend. He was moving into town for work and wanted to get settled quickly. As we raced between showings, one desirable property stood out.
There was a crowd at the open house and the broker indicated it would move fast. All bids would be accepted by Sunday evening and the winner would be announced the next day. My friend got caught up in the frenzy and wanted to know what bid might be needed “to win it.”
It struck me as amusing that we had spent just 45 minutes looking at the desired house for sale. I asked my friend how much time he would spend looking at a high-priced sweater.
He proudly indicated that he was a bargain shopper. My friend added that, if he were going to pay a lot for an item of clothing, it had better be worth it. Yet soon he could be obligated to spend hundreds of thousands of dollars for a house, initiating this decision after spending less than an hour.
Want to make better purchasing decisions? Try asking these five questions:
What dollar amount are you actually spending or saving?
To continue reading, please go to the original article here:
.Why I Buy Everything on Credit Cards
.Why I Buy Everything on Credit Cards
The Almighty Credit Card
Credit cards are a supremely convenient and secure way to carry money and make purchases and payments. With credit cards, you never have to worry about losing money – even by theft. In addition, credit cards offer many attractive benefits.
In addition to the reward programs such as cash back and frequent flier miles, most credit card purchases also come with extended warranties, insurance, and transaction history. Plus, the ability to cancel a transaction gives you power over the vendor in a customer satisfaction dispute. For all of these reasons and more, I make nearly all of my purchases and payments on my credit card.
Why I Buy Everything on Credit Cards
The Almighty Credit Card
Credit cards are a supremely convenient and secure way to carry money and make purchases and payments. With credit cards, you never have to worry about losing money – even by theft. In addition, credit cards offer many attractive benefits.
In addition to the reward programs such as cash back and frequent flier miles, most credit card purchases also come with extended warranties, insurance, and transaction history. Plus, the ability to cancel a transaction gives you power over the vendor in a customer satisfaction dispute. For all of these reasons and more, I make nearly all of my purchases and payments on my credit card.
Benefits That Typically Come Free with Credit Card Use
Loss Prevention
When I was ten, I rode my bike with some friends to the new toy store that had opened in a nearby strip mall where we spent the afternoon examining the offering. I finally decided to buy one of those cool disc guns that shoots plastic discs the size of a penny. Those guns were so cool. They must have shot a lot of eyes out, because you can’t buy them anymore.
As I stepped to the counter, I was horrified to find that my money was no longer in my pocket. I searched my other pockets and even my socks, but the money was gone. I could not believe that I had lost an entire $3.
I’ll spare you any further anguish on my behalf, and just say that even though this whole situation made a lasting impression on me, I did find the money. There it was, lying nicely folded in the parking lot. I still can’t believe it went unnoticed for so long.
All this is to say that losing money is a real drag. Actually, I’m sure I have been a net finder of lost money. There was that $50 lying on Main Street in Park City, Utah and another $50 on the floor at Subway in some small town in Washington. Let me know if either of those was yours.
The point is, I have very few opportunities to lose cash, because I don’t carry much of it. If you lose a credit card, you won’t lose any money, as long as you report it lost. Even if you didn’t realize you had lost your credit card, you would of course, realize it had fallen into the wrong hands as soon as you started seeing transactions pop up on your Personal Capital app.
Security
Even if I am robbed, the most I could really lose (other than my life) is the $20 I typically carry. When a credit card is stolen, the thieves will immediately run to the nearest big box store to purchase gift cards before the card is reported stolen and declined. Even these charges (especially these charges) are refunded as fraudulent charges.
To continue reading, please go to the original article here:
.A Single Investment Can Produce A Lifetime Of Income
.A Single Investment Can Produce A Lifetime Of Income
Notes From The Field By Simon Black January 23, 2020
An eight-minute recording can produce a lifetime of income…
That’s the story of musician Don McLean.
Fifty years ago, McLean was just an obscure American folk singer. But in 1971 at a café in Saratoga Springs, New York, he wrote a song that would change his life forever.
The song was a long ballad about an experience he had as a 13-year old boy, in 1959. It began with a radio bulletin that said that 1950s rock and roll pioneer Buddy Holly had died in a plane crash. McLean was crushed. And a dozen years later, he harnessed this memory and took the world by storm with his song.
If you haven’t guessed by now, McLean’s song was “American Pie.”
A Single Investment Can Produce A Lifetime Of Income
Notes From The Field By Simon Black January 23, 2020
An eight-minute recording can produce a lifetime of income…
That’s the story of musician Don McLean.
Fifty years ago, McLean was just an obscure American folk singer. But in 1971 at a café in Saratoga Springs, New York, he wrote a song that would change his life forever.
The song was a long ballad about an experience he had as a 13-year old boy, in 1959. It began with a radio bulletin that said that 1950s rock and roll pioneer Buddy Holly had died in a plane crash. McLean was crushed. And a dozen years later, he harnessed this memory and took the world by storm with his song.
If you haven’t guessed by now, McLean’s song was “American Pie.”
“American Pie” stayed atop the Billboard music charts for more than a year. And the song turned this once obscure folk singer into a global sensation.
More than that – McLean was immediately set for life. I’ve been told by people in the industry that he still earns several hundred thousand dollars each year from that one song.
Imagine still being handsomely paid for something you did nearly half a century ago.
This story holds the key to one of the greatest business models ever invented: the idea that you can create something once and be paid on it for life.
I’m talking about the royalty business.
A royalty is a cash payment that you receive over and over again from an asset that you created, developed, or own.
Every time a song is played in public, purchased, downloaded, streamed, or used in a television commercial, the performers, producers, investors, and songwriters collect a royalty.
Fortunately, you don’t need to have any musical talent to generate royalty income.
It’s actually possible to buy other people’s royalties and receive their income.
I’ve done it myself; not long ago the bank that I own acquired partial rights to a popular song, entitling my bank to royalty income from downloads, streams, etc.
The investment was $225,000. But within roughly the first year it earned a total of $29,851.41. That’s a yield of around 13%.
To continue reading, please go to the original article here:
https://www.sovereignman.com/blog/
To your freedom & prosperity, Simon Black, Founder, SovereignMan.com
.Money – We Need To Talk About It
.Money – We Need To Talk About It
Let’s Talk About Money
There are few things that people avoid talking about more than money, yet we probably spend most of our time in pursuit of money. We could all benefit from a better understanding of it, but sadly, we are mostly left to find our own way with money. We rarely even have the chance to learn from other’s experience, so we are bound to repeat the same mistakes.
I get it; there are some good reasons not to talk about money. We think that letting people know how much money we have or how much we earn will complicate our relationships and interactions.
Strangely, even though we don’t want people to know our financial situation, most people spend a lot of time and effort trying to appear as though they have more money than they actually do. I’m not sure how this deception makes interactions any more comfortable. Maybe people inflate their perceived financial status in an effort to avoid having to interact with people of their own income level.
Money – We Need To Talk About It
December 4, 2019 By Machinist
Let’s Talk About Money
There are few things that people avoid talking about more than money, yet we probably spend most of our time in pursuit of money. We could all benefit from a better understanding of it, but sadly, we are mostly left to find our own way with money. We rarely even have the chance to learn from other’s experience, so we are bound to repeat the same mistakes.
I get it; there are some good reasons not to talk about money. We think that letting people know how much money we have or how much we earn will complicate our relationships and interactions.
Strangely, even though we don’t want people to know our financial situation, most people spend a lot of time and effort trying to appear as though they have more money than they actually do. I’m not sure how this deception makes interactions any more comfortable. Maybe people inflate their perceived financial status in an effort to avoid having to interact with people of their own income level.
Silence On Money Causes Problems
Because people are so unfamiliar with money topics, just living normal lives inevitably leads them into financial conflict which they are unprepared to resolve. The inability to identify and avoid financial snares and navigate out of mistakes causes crisis situations for many individuals and for society in general. For example:
The Student Loan Crisis
Most kids receive almost no instruction about money at school or home. They enter college with a poor understanding of its costs. They are ignorant of the burden a student loan will be – possibly delaying the major milestones of adult life for decades. Most kids choose their college based on factors of prestige or fun but may not consider which institution will provide the best value for their money or the best employment opportunities upon graduation.
Most entering freshman have not chosen a major, so they spend valuable time and money “exploring their options” before buckling down. They often realize that their initial school choice was a poor one, so they decide to transfer.
All of this leads to more years spent in college and greater expenses. In addition, many kids aren’t even aware of options other than college. For all of these reasons and more our educational system is failing students and the student loan situation has reached crisis level.
Money and Divorce
Because most people participate so rarely in discussions about money during their youth, they don’t develop the skills to talk about money – let alone use it effectively. It should come as no surprise then, that when people join their finances with a partner, they struggle to communicate about money differences. Is it any wonder that money is a leading cause of divorce?
The Retirement Crisis
It used to be that people were forced by reality to plan for how they would support themselves in old age or in case of disability. They may have built a farm or business, acquired rental property, or just had plenty of kids.
These long-term planning skills were lost after a generation or two where everyone had an employer-provided pension and government-provided social safety net. Now that employer-provided pensions have mostly disappeared, we have a crisis of under-prepared retirees and unsustainable social security system.
To continue reading, please go to the original article here:
.Good Enough Is Pretty Great
.Good Enough Is Pretty Great
January 8, 2020 By Machinist
Have you ever noticed how much contradiction and disagreement there is in the advice being offered about personal finances? Suze Orman claims that buying coffee is like flushing a fortune down the toilet. Others assure us that we can tolerate a vice or two and still be responsible personal financiers.
Some people are convinced that owning a home is a waste of investable capital, while others are convinced that real estate, with its easy leverage is the best, most reliable passive income stream.
Still others make the choice to pay off their mortgages early. Some people wouldn’t stoop to driving someone else’s hand-me-down car, while others will gladly accept years of additional retirement as a trade for doing just that. Which advice is best? More importantly, which is good enough?
Good Enough Is Pretty Great
January 8, 2020 By Machinist
Have you ever noticed how much contradiction and disagreement there is in the advice being offered about personal finances? Suze Orman claims that buying coffee is like flushing a fortune down the toilet. Others assure us that we can tolerate a vice or two and still be responsible personal financiers.
Some people are convinced that owning a home is a waste of investable capital, while others are convinced that real estate, with its easy leverage is the best, most reliable passive income stream.
Still others make the choice to pay off their mortgages early. Some people wouldn’t stoop to driving someone else’s hand-me-down car, while others will gladly accept years of additional retirement as a trade for doing just that. Which advice is best? More importantly, which is good enough?
The reason for this disagreement is simple. People are unique and so are their finances. We all operate within the same economic system, so there are universal principles that apply to everyone, but beyond these foundational principles, we all get to decide how to make the most of our limited resources.
You can choose to buy your coffee, a big home, and a new car. Maybe you have the resources to support the purchase of all of these things, all at the same time. Perhaps you can even afford private school, and a fancy yacht, but at some point, you will reach the limits of your available resources and will have to start making choices.
The Point at Which You Start Making Choices Is the Determinant of Wealth and Happiness in Life
And that’s the secret to economic success. Life operates within a framework of limited resources. Whether you are Jeff Bezos or Joe Schmo, your resources are limited. This is not a flaw in the universe. It is a key feature of life in the universe. And, as with nearly everything, understanding the rules and features of the system makes it easier to use the system to our advantage.
When we understand that we will never be able buy everything the world has to offer, we can get to work on what really matters – optimizing the benefit we can get from the resources we have. The key is to deliberately choose what we value most before we have exhausted our resources.
Life Is Short, But It’s Also Rich
I want to get all the joy and adventure I can get out Life. I don’t want to give up the things that make life great in order to have more money when I am old. I want a great life now, AND when I am old.
Fortunately, we live in a time of plenty. Most of us have the resources to live longer, healthier, more comfortable lives than even the nobility of not so long ago. We also have much greater ability to travel and experience all that the world has to offer. In addition, we can accomplish more in a given time period than at any time in the history of the world.
This is all to say that although our resources are limited, they are, nonetheless, enormous. Our challenge is not the procurement of scarce resources, but rather the efficient use of plentiful resources.
It’s All About Choices
Every day we make many choices in the allocation of our resources. Some choices like food and shelter are driven by need. Some choices like entertainment are driven by desire. Other choices are made for us, for example, when we fail to make our own choices within the established time limit.
To continue reading, please go to the original article here:
.“Now We See The Violence Inherent In The System”
.“Now We See The Violence Inherent In The System”
Notes From The Field By Simon Black 1-22-2020 Bahia Beach, Puerto Rico
Apparently Bill Gates has sat on his * and contributed nothing to Microsoft’s success over the past 44 years… at least, according to Congresswoman Alexandria Ocasio-Cortez.
At an event commemorating Martin Luther King on Monday, Ms. Ocasio-Cortez told the audience that wealthy people “sat on a couch” while “undocumented workers” earning “slave wages” created all the wealth and value.
“Now We See The Violence Inherent In The System”
Notes From The Field By Simon Black 1-22-2020 Bahia Beach, Puerto Rico
Apparently Bill Gates has sat on his * and contributed nothing to Microsoft’s success over the past 44 years… at least, according to Congresswoman Alexandria Ocasio-Cortez.
At an event commemorating Martin Luther King on Monday, Ms. Ocasio-Cortez told the audience that wealthy people “sat on a couch” while “undocumented workers” earning “slave wages” created all the wealth and value.
“No one ever makes a billion dollars,” she said. “You take a billion dollars.” And the crowd went wild.
She went on, chuckling that “there is a case” that “billionaires are inherently, morally corrupt,” and that “if Jeff Bezos wants to be a good person he’d turn Amazon into a worker cooperative. . .”
And this is the solution that AOC is posing; she wants to completely upend the system and turn the country into a Marxist collective.
It’s worth noting that AOC is not stupid. Conservative media likes to beat up on her and make her out to be an idiot. She’s not.
AOC is clearly an intelligent person, and some of what she says is true. One of her central themes, in fact, is that a lot of people are getting screwed by the system. And it’s hard to argue with that.
The primary danger, as is the case with most politicians, is that AOC doesn’t seem to have a grasp of the problem.
Why are people getting screwed by the system? Why is healthcare so expensive? Why is education so expensive? Why haven’t many workers’ wages kept up with inflation?
She makes no attempt to understand the root cause of these issues, and that’s extremely counterproductive. No one can solve a problem which they haven’t properly defined.
Instead, AOC simply blames wealthy people for all the ills of the world-- the wealth gap, environmental issues, social injustice, etc.
And her solution for everything is to confiscate their property.
Not to be outdone, two separate sets of video recordings have recently been leaked by Project Veritas in which Bernie Sanders campaign staffers call for violent revolution and for wealthy people to be incarcerated in forced labor camps.
One of them even said, “Guillotine the rich!”
To continue reading, please go to the original article here:
https://www.sovereignman.com/trends/now-we-see-the-violence-inherent-in-the-system-27089/
.The Biggest Scam In History of Mankind
.The Biggest Scam In History of Mankind
The Final Wake Up Call By Peter B Meyer
Hidden Secrets of Money
Who owns the Federal reserve? You are about to learn one of the biggest secrets in the history of the world, it’s a secret that has huge effects for everyone who lives on this planet. Most people can feel deep down that something isn’t quite right with the world economy, but few know what it is.
Gone are the days where a family can survive on just one pay check, every day it seems that things are more and more out of control, yet only one in a million understands why. You are about to discover the system that is ultimately responsible for most of the economic problems and inequality in our society today.
The Deep State doesn’t want you to know about this, as this system is what has kept them at the top of the financial food-chain for at least the last 110 years. Learning this will change your life because it will change the choices that you make.
The Biggest Scam In History of Mankind
The Final Wake Up Call By Peter B Meyer
The Destruction of Modern Society
The Insanity of Negative Interest Rates
New Socialism
Valuable Reserves Are The Foundation of Any Stable Currency
Hidden Secrets of Money
Who owns the Federal reserve? You are about to learn one of the biggest secrets in the history of the world, it’s a secret that has huge effects for everyone who lives on this planet. Most people can feel deep down that something isn’t quite right with the world economy, but few know what it is.
![Biggest-Scam-in-History-300x232[1].png](https://images.squarespace-cdn.com/content/v1/5d5222a44813620001d89582/1579811494620-P0B1IKXYAF6N7ZZ1OQ2S/Biggest-Scam-in-History-300x232%5B1%5D.png)
Gone are the days where a family can survive on just one pay check, every day it seems that things are more and more out of control, yet only one in a million understands why. You are about to discover the system that is ultimately responsible for most of the economic problems and inequality in our society today.
The Deep State doesn’t want you to know about this, as this system is what has kept them at the top of the financial food-chain for at least the last 110 years. Learning this will change your life because it will change the choices that you make.
If enough people learn it, it will change the world, because it will change the system. For this is the biggest Hidden Secret of Money. Never in human history have so many been plundered by so few, and it’s all accomplished through this; the biggest scam in the history of mankind.
The Destruction Of Modern Society
The basic idea is that Central Banks will keep interest rates lower than anyone can imagine, for longer than anyone can imagine; and that will cause asset prices to soar. That includes stocks, as well as real estate and precious metals. However, to camouflage the devaluing progress of specifically the US dollar as the reserve currency, but also all other paper currencies.
![destruction-of-modern-society-300x298[1].png](https://images.squarespace-cdn.com/content/v1/5d5222a44813620001d89582/1579757104133-M9WMK0FVGM9RAIFX1LBP/destruction-of-modern-society-300x298%5B1%5D.png)
The price of precious metals is artificially manipulated downwards, whatever the demand might be. And this is the reason that after the high of 2011, gold never has reached or surpassed that level again, it should have been shot-up to US$ 50.000 per ounce under today’s circumstances.
Even worse, they inflict an enormous credit inflation, as result of the growths in the money supply. Whereby, price increases are delayed and uneven, due to the Cantillon Effect, as early receivers of the new money are able to purchase goods and services at existing prices.
To continue reading, please go to the original article here:
http://finalwakeupcall.info/en/2020/01/22/the-biggest-scam-in-history-of-mankind/