Should I Tithe or Should I Build Wealth?
.Should I Tithe or Should I Build Wealth?
The Physician Philosopher
Should you be giving to charity? And is there a right or wrong way to go about it? Should you do it pre-tax or post-tax? Bet you never thought there would be this many things to consider when it came to giving to charity. Keep reading to figure out all of the answers!
What You’ll Learn:
In this episode of Money Meets Medicine, “Charitable Giving: Pre-Tax, Post-Tax, or Not at All?” You’re going to learn…
Why you should give to charity! What things specifically apply to physicians when it comes to giving. Whether you should give pre-tax or post-tax. Why charity is a great way to making money an idol. All about the great tax benefits.
And more!
Should I Tithe or Should I Build Wealth?
The Physician Philosopher
Should you be giving to charity? And is there a right or wrong way to go about it? Should you do it pre-tax or post-tax? Bet you never thought there would be this many things to consider when it came to giving to charity. Keep reading to figure out all of the answers!
In this episode of Money Meets Medicine, “Charitable Giving: Pre-Tax, Post-Tax, or Not at All?” You’re going to learn…
Why you should give to charity! What things specifically apply to physicians when it comes to giving. Whether you should give pre-tax or post-tax. Why charity is a great way to making money an idol. All about the great tax benefits.
And more!
The other day my oldest little philosopher came up to me and asked what I was working on after she woke up from a nap. I told her I was working on a post for my website. “What’s the post about, daddy?” The post I was working on was about practical investing advice. To my less than ten year old, I simply said, “It’s about money.” We then discussed how we buy things, how we earn money, the purpose of a bank, and a lot of other essential money topics including how and why we tithe and give to charity.
She came away with the idea that money was a pretty important tool that we all need so that we can do what we want in life. However, I didn’t want her to come away with the idea that money is our idol or the end all be all. Even if you are not religious, I think that this concept is still important. Giving money comes in many different forms. It includes giving money to charitable causes outside the church. If you are religious and feel called to tithe, maybe this post will help you revisit the topic or start the conversation if you’ve never tithed regularly.
Why Should I Tithe or Give to Charity?
To continue reading, please go to the original article here:
https://thephysicianphilosopher.com/should-you-tithe-or-build-wealth/
The Blind Men and The Elephant: A Short Story about Perspective
.The Blind Men and The Elephant: A Short Story about Perspective
BY KYLE KOWALSKI
The parable of the blind men and the elephant dates back to Buddhist, Hindu, and Jain writings.
Apparently, the Buddhist text Udana 6.4 contains one of the earliest versions of the story—dated all the way back to around c. 500 BCE. (1)
Sloww Blind Men Elephant Story
The Blind Men and The Elephant: A Short Story about Perspective
While there have been a variety of versions over the centuries, one poem in particular seems to be responsible for popularizing it in modern times.
The Blind Men and The Elephant: A Short Story about Perspective
BY KYLE KOWALSKI
The parable of the blind men and the elephant dates back to Buddhist, Hindu, and Jain writings.
Apparently, the Buddhist text Udana 6.4 contains one of the earliest versions of the story—dated all the way back to around c. 500 BCE. (1)
Sloww Blind Men Elephant Story
The Blind Men and The Elephant: A Short Story about Perspective
While there have been a variety of versions over the centuries, one poem in particular seems to be responsible for popularizing it in modern times.
![Sloww-Blind-Men-Elephant-1024x512[1].jpg](https://images.squarespace-cdn.com/content/v1/5d5222a44813620001d89582/1599007226658-OWSHEGWPJRD1C4I9E6LS/Sloww-Blind-Men-Elephant-1024x512%5B1%5D.jpg)
John Godfrey Saxe Version
American poet John Godfrey Saxe wrote his version of “The Blind Men and the Elephant” in the mid-nineteenth century.
I’ve included this version below in video, image, and text forms so you can listen and/or read. Enjoy!
"The Blind Men and the Elephant" by John G. Saxe (read by Tom O'Bedlam)
Sloww The Blind Men And The Elephant by John Godfrey Saxe
I.
It was six men of Indostan To learning much inclined,
Who went to see the Elephant (Though all of them were blind),
That each by observation Might satisfy his mind.
There is so much more to moral of the story after the video To continue reading, please go to the original article here: https://www.sloww.co/blind-men-elephant/
Principles For Success
.Principles For Success
by Ray Dalio www.principles.com
Raymond Dalio (born August 8, 1949) is an American investor, hedge fund manager, and philanthropist. Dalio is the founder of investment firm Bridgewater Associates, one of the world's largest hedge funds.
Ray Dalio, one of the world’s most successful investors and entrepreneurs, shares the unconventional principles that helped him create unique results in life and business. Principles by Ray Dalio In 'Principles,' investor and entrepreneur Ray Dalio shares his approach to life and management, which he believes anyone can use to make themselves more successful.
Join me on a thought-provoking adventure in my new animated mini-series, Principles for Success. I've taken my book Principles, and distilled it into a 30 minute ultra mini series that focuses on the life principles that have helped me the most.
Principles For Success
by Ray Dalio www.principles.com
Raymond Dalio (born August 8, 1949) is an American investor, hedge fund manager, and philanthropist. Dalio is the founder of investment firm Bridgewater Associates, one of the world's largest hedge funds.
Ray Dalio, one of the world’s most successful investors and entrepreneurs, shares the unconventional principles that helped him create unique results in life and business. Principles by Ray Dalio In 'Principles,' investor and entrepreneur Ray Dalio shares his approach to life and management, which he believes anyone can use to make themselves more successful.
Join me on a thought-provoking adventure in my new animated mini-series, Principles for Success. I've taken my book Principles, and distilled it into a 30 minute ultra mini series that focuses on the life principles that have helped me the most.
https://www.youtube.com/watch?time_continue=76&v=B9XGUpQZY38&feature=emb_logo
Ray Dalio is the founder, chair and co-chief investment officer of Bridgewater Associates, a global leader in institutional portfolio management and the largest hedge fund in the world. In this talk, Dalio shares the unconventional principles that helped him create unique results in life and business — and which any person or organization can adopt to better achieve their goals.
It’s Time To Have An Honest, Rational Conversation With Your Family
.It’s Time To Have An Honest, Rational Conversation With Your Family
Notes From The Field By Simon Black August 26, 2020 Dallas, Texas
When the captain came on the announcement system yesterday morning to introduce himself to passengers, the first thing he said was:
“Ladies and gentlemen, a lot of us have been cooped up and under tremendous stress for the past several months. So the most important thing we can do right now is be kind, patient, and understanding with one another.”
It was an interesting way to start off a flight.
And I remember thinking to myself, “He probably wouldn’t bother saying something like that unless they’ve had some bad experiences recently with passengers fighting with one another.”
It’s Time To Have An Honest, Rational Conversation With Your Family
Notes From The Field By Simon Black August 26, 2020 Dallas, Texas
When the captain came on the announcement system yesterday morning to introduce himself to passengers, the first thing he said was:
“Ladies and gentlemen, a lot of us have been cooped up and under tremendous stress for the past several months. So the most important thing we can do right now is be kind, patient, and understanding with one another.”
It was an interesting way to start off a flight.
And I remember thinking to myself, “He probably wouldn’t bother saying something like that unless they’ve had some bad experiences recently with passengers fighting with one another.”
Sure enough, it didn’t take long before I heard an altercation between two passengers; ostensibly one of them had let her mandatory face covering slip ever-so-slightly below her nose. And a nearby passenger would have none of that.
It was even more interesting to me to witness the sense of entitlement that some people feel in barking orders to other human beings. They’re like Army Drill Sergeant shouting “Put your mask over your nose!”
This example, of course, barely scratches the surface of conflict these days. I’ve written before in these pages about people being pepper sprayed, or assaulted, for not wearing a mask.
I’m not even talking here about whether it’s right or wrong to wear a mask; I’m talking about the inability to people to engage in civil discourse.
There’s so much bottled up RAGE in the world… and it takes nothing anymore for that rage to explode and turn violent.
Masks are only one example. Social justice is another—rage quickly turns to violence and chaos.
Earlier this week an angry mob (of mostly white young people) swarmed restaurant customers whose only crime was dining outside in the wrong place at the wrong time.
The mob ran up to the restaurant tables and commanded the diners raise to raise their fists in solidarity, screaming “White silence is violence.”
You can’t even have lunch anymore without having to worry about being attacked by a violent mob.
And just last night in Wisconsin, rioters violently clashed with armed citizens in a literal gun battle that took place in the streets in America.
The mob had already torched private property, including, inexplicably, a car dealership. And several concerned citizens took it upon themselves to defend other property from the mob since the local government doesn’t seem willing or capable to do so.
And that’s when things became violent. At least two people are dead, and several shot.
Even something as simple as politics—which has long been a source of passionate and vocal disagreement—easily descends into violence and chaos.
These days, people are literally being beaten and battered for quietly expressing their political views. Countless others have been fired from their jobs.
It’s nearly impossible to have a rational discussion anymore, and this all constitutes a complete breakdown in the social fabric.
I figure many of us probably stare at our screens and watch these videos and news reports in utter disbelief. We can’t bring ourselves to acknowledge what has happened over these past few months.
But make no mistake-- this is happening. This is not a figment of our imaginations. And it’s not going away.
Don’t be fooled into thinking it’s going to blow over. Or some politician is going to ride in on a white horse and make everything better.
In fact, in many cases, state and local governments are in on it… they’re fanning the flames of chaos, cheering on riots and dismissing the violence as “peaceful protests.”
I’ve been writing about this for years: you cannot depend on your government, and you cannot depend on the good nature of your fellow citizens. You really have yourself to rely on, first and foremost.
That’s why I’ve long encouraged our readers to have a Plan B.
A Plan B isn’t about doom and gloom. On the contrary—it’s about ensuring that you’re in a position of strength regardless of what happens, or doesn’t happen, next.
A Plan B is an acknowledgement that obvious risks exist… and a sensible approach to protect yourself from those risks.
Well, we’re not talking about ‘risks’ anymore, i.e. potential threats that -might- occur. We’re talking about terrible trends that HAVE happened… ARE happening… right in front of our very eyes.
Our brains work in a funny way in this regard; human beings often suffer what psychologists call “normalcy bias,” i.e. even when we see radical events taking place, we assume that everything will quickly go back to normal.
Seriously—does anyone honestly believe that these angry mobs will put down their torches and pitchforks and settle down? Does anyone honestly believe that after the election it will be all rainbows and buttercups?
Don’t fall into this trap. Don’t shrug off what’s happening and assume it will all go away. Remember the words of Medal of Honor recipient Admiral Jim Stockdale, who survived 7+ years in a Vietnamese prison camp:
“You must never confuse faith that you will prevail in the end—which you can never afford to lose– with the discipline to confront the most brutal facts of your current reality, whatever they might be.”
It’s really time to have an honest, rational conversation with yourself and your family about obvious threats… and sensible solutions.
To your freedom and prosperity , Simon Black, Founder, SovereignMan.com
10 Quick Steps That’ll Have You Managing Your Money Like A Millionaire
.10 Quick Steps That’ll Have You Managing Your Money Like A Millionaire
by The Penny Hoarder Staff
Life would be a whole lot easier if someone would just Venmo us $1 million, but unfortunately the chance of that happening is, well, probably zero. (Venmo doesn’t allow transactions that large anyway.)
But even though our chances of becoming a millionaire are slim, we can still manage our money like one. No, we’re not going to tell you how to buy hundreds of shares of Apple stock. Or how to pick out the perfect yacht.
These are simple money moves any normal, non-millionaire person can make today. Each tip can get you closer to achieving your big goals.
10 Quick Steps That’ll Have You Managing Your Money Like A Millionaire
by The Penny Hoarder Staff
Life would be a whole lot easier if someone would just Venmo us $1 million, but unfortunately the chance of that happening is, well, probably zero. (Venmo doesn’t allow transactions that large anyway.)
But even though our chances of becoming a millionaire are slim, we can still manage our money like one. No, we’re not going to tell you how to buy hundreds of shares of Apple stock. Or how to pick out the perfect yacht.
These are simple money moves any normal, non-millionaire person can make today. Each tip can get you closer to achieving your big goals.
Take a look:
1. Take Money Out of Your Checking Account
Here’s the deal: If you’re not using Aspiration’s debit card, you’re missing out on extra cash. And who doesn’t want extra cash?
Yep. A debit card called Aspiration gives you up to a 10% back every time you swipe. How much does your current bank offer you?
Need to buy groceries? Extra cash.
Need to fill up the tank? Bam. Even more extra cash.
You were going to buy these things anyway — why not get this extra money in the process? Do yourself a favor and deposit $100 into an Aspiration account today so you can start taking advantage.
To get started, enter your email address here, and link your bank account to see how much extra cash you can get with your free Aspiration account. And don’t worry. Your money is FDIC insured and under a military-grade encryption. That’s nerd talk for “this is totally safe.”
To continue reading, please go to the original article here:
5 Strategies That’ll Help You Stop Fighting With Your Partner About Money
.5 Strategies That’ll Help You Stop Fighting With Your Partner About Money
by Chaunie Brusie
It’s common for people in relationships to have different approaches to money. One might be a spender, while the other might be a saver. But as common as this might be, even small disagreements over how to manage money can add up over time, especially as you realize you and your partner may approach your finances in different ways that are subtle (or maybe not so subtle…) Either way, those differences will need to be addressed eventually.
So, when that moment comes for you, these tips will help you and your partner be able to effectively handle your finances when you have differing money mindsets.
Understand That Beliefs About Money Take Hold Early
How you approach your finances as an adult goes back to what you learned about money as a child, explains Jessica Small, who works as a licensed marriage and family therapist and premarital counselor with Growing Self Counseling and Coaching. Upbringing probably plays the biggest role in someone’s financial style,” Small said. “So much of our belief system about money is defined by the messages we received as a child and how money is talked about in our families growing up.”
5 Strategies That’ll Help You Stop Fighting With Your Partner About Money
by Chaunie Brusie
It’s common for people in relationships to have different approaches to money. One might be a spender, while the other might be a saver. But as common as this might be, even small disagreements over how to manage money can add up over time, especially as you realize you and your partner may approach your finances in different ways that are subtle (or maybe not so subtle…) Either way, those differences will need to be addressed eventually.
So, when that moment comes for you, these tips will help you and your partner be able to effectively handle your finances when you have differing money mindsets.
Understand That Beliefs About Money Take Hold Early
How you approach your finances as an adult goes back to what you learned about money as a child, explains Jessica Small, who works as a licensed marriage and family therapist and premarital counselor with Growing Self Counseling and Coaching. Upbringing probably plays the biggest role in someone’s financial style,” Small said. “So much of our belief system about money is defined by the messages we received as a child and how money is talked about in our families growing up.”
Allana Pratt, an intimacy coach, relationship expert, and host of “Intimate Conversations,” also points out that early beliefs surrounding money all result in an emotional mindset that will impact how you manage money later in life. Those beliefs could stem from things like getting positive attention when you saved your allowance as a child or learning to limit your dreams because you grew up in poverty.
Action Step for Couples: Carve out time to talk about how your family of origin approached money. Spend some time exploring how your partner’s financial upbringing — as well as your own — affects how you both approach money today. It can help both of you understand the “why” behind your beliefs about money.
Realize that Finances = Feelings
It’s important to recognize that when it comes to managing money, it’s never just about the dollar signs, according to Small. How you approach money actually boils down to how you feel about money, because a lot of emotion is attached to money in our society.
“We watch how our parents or primary caregivers spend money, their emotions around money, and how they fight about money to try to make sense of the value money holds,” she said. “If we grow up in a house where anxiety is the primary emotion that is expressed around money, then we begin to associate anxiety with finances. Sometimes, we’ll replicate what we saw growing up and other times people will consciously do the direct opposite.”
Small said that because finances are so closely intertwined with feelings, whenever she sees a couple in her practice who are struggling with financial management, she always asks them one question: “What does money mean to you?”
To continue reading, please go to the original article here:
https://www.thepennyhoarder.com/save-money/money-management-for-couples/?aff_sub2=homepage
8 Secrets of The Wealthy That Most of Us Ignore
.8 Secrets of The Wealthy That Most of Us Ignore
By The Penny Hoarder Staff
Life would be a whole lot easier if someone would just Venmo us $1 million, but unfortunately the chance of that happening is, well, probably zero. (Venmo doesn’t allow transactions that large anyway.)
But there’s still plenty of things we can learn from rich people. Here are 8 of the smartest ways they save money…
1. They Spend $5 to Own a Piece of Amazon, Google or Other Companies
Take a look at the Forbes Richest People list, and you’ll notice almost all the billionaires have one thing in common — they own another company. But if you work for a living and don’t happen to have millions of dollars lying around, that can sound totally out of reach.
That’s why a lot of people use the app Stash. It lets you be a part of something that’s normally exclusive to the richest of the rich — buying pieces of other companies for as little as $1.
8 Secrets of The Wealthy That Most of Us Ignore
By The Penny Hoarder Staff
Life would be a whole lot easier if someone would just Venmo us $1 million, but unfortunately the chance of that happening is, well, probably zero. (Venmo doesn’t allow transactions that large anyway.)
But there’s still plenty of things we can learn from rich people. Here are 8 of the smartest ways they save money…
1. They Spend $5 to Own a Piece of Amazon, Google or Other Companies
Take a look at the Forbes Richest People list, and you’ll notice almost all the billionaires have one thing in common — they own another company. But if you work for a living and don’t happen to have millions of dollars lying around, that can sound totally out of reach.
That’s why a lot of people use the app Stash. It lets you be a part of something that’s normally exclusive to the richest of the rich — buying pieces of other companies for as little as $1.
That’s right — you can invest in pieces of well-known companies, such as Amazon, Google or Apple, for as little as $1.
The best part? When these companies profit, so can you. Some companies even send you a check every quarter for your share of the profits, called dividends. It takes two minutes to sign up, plus Stash will give you a $5 sign-up bonus once you deposit $5 into your investment account.
2. They Don’t Waste Hundreds on Homeowner’s Insurance
You’re probably wasting money right now. And it’s probably on something you’d never expect — your homeowners insurance policy. This isn’t something you actively think about — you just know you’re required to have it.
The problem is, you’re paying too much. Luckily, an insurance company called Lemonade makes it easy to find out how much you’re overpaying.
Lemonade’s policies start at just $25/month. And just because you’re saving money doesn’t mean you’re skimping on coverage. Lemonade will make sure you have what you need.
To continue reading, please go to the original article here:
These Are the 5 Smartest Things to Do if You Don’t Get Another $1,200 Stimulus Check
These Are the 5 Smartest Things to Do if You Don’t Get Another $1,200 Stimulus Check
by Mike Brassfield
Remember the $1,200 federal stimulus check you got a few months ago? Wasn’t that a lifesaver? Wouldn’t another one of those be nice right now? While politicians in Washington bicker and point fingers and fail to successfully negotiate another stimulus bill, the rest of us are all wondering the same thing: Am I going to get another $1,200 stimulus check or not?
If you’re one of the tens of millions of Americans who are out of work due to the coronavirus pandemic, you desperately need that money to pay for necessities like food and shelter. Even if you’re still employed, you need that extra money to pay for things like school supplies, unexpected child-care costs or skyrocketing power bills because you’re home all the time.
If the politicians fail us and you don’t get another stimulus check, we’ve got five tips to help you get through this time:
1. Negotiate to Stay in Your Home
If you can’t afford housing, don’t panic. Look at your options instead.
These Are the 5 Smartest Things to Do if You Don’t Get Another $1,200 Stimulus Check
by Mike Brassfield
Remember the $1,200 federal stimulus check you got a few months ago? Wasn’t that a lifesaver? Wouldn’t another one of those be nice right now? While politicians in Washington bicker and point fingers and fail to successfully negotiate another stimulus bill, the rest of us are all wondering the same thing: Am I going to get another $1,200 stimulus check or not?
If you’re one of the tens of millions of Americans who are out of work due to the coronavirus pandemic, you desperately need that money to pay for necessities like food and shelter. Even if you’re still employed, you need that extra money to pay for things like school supplies, unexpected child-care costs or skyrocketing power bills because you’re home all the time.
If the politicians fail us and you don’t get another stimulus check, we’ve got five tips to help you get through this time:
1. Negotiate to Stay in Your Home
If you can’t afford housing, don’t panic. Look at your options instead.
Are you a homeowner? If you’re struggling with your mortgage payments, keep in mind that Fannie Mae and Freddie Mac are extending their moratorium on foreclosures on single-family mortgages until at least Aug. 31, 2020.
Mortgage companies can also offer to homeowners in COVID-19-related forbearance the option to defer missed payments until they sell or refinance their homes or reach the end of their loans.
Are you a renter? If you can’t pay rent for the upcoming month, it’s best to speak with your landlord sooner rather than later. You may be able to come to a resolution that doesn’t involve eviction or having delinquent payments on your credit report.
Renters should also check with their local housing agencies about relief programs. Many cities have funds that will help you by paying at least part of your rent directly to your landlord.
2. Ditch Your Current Car Insurance and Save Yourself $800
If you need to free up extra room in your budget, one of the easiest places to start is to cut back on your monthly bills — like your current car insurance.
In most places, it’s straight up illegal not to have it, so you’ve probably accepted that you’re going to pay through the nose for it. But you don’t have to.
To continue reading, please go to the original article here:
https://www.thepennyhoarder.com/budgeting/another-stimulus-check/?aff_sub2=homepage
9 Symptoms of an Unhealthy Relationship with Money
.9 Symptoms of an Unhealthy Relationship with Money
Do you have a love-hate relationship with money? Different people feel differently about money. Sometimes you feel confident about your financial situation. Other times you feel guilty about the money you spend. Some of us enjoy looking at our bank accounts, while some feel dreaded. Your relationship with money depends upon how you treat it. Whether you consider it your trusted friend or something that causes frustration, fear and guilt.
The good news is, no matter how unhealthy your relationship with money is, you can always take steps to improve it. However, to make that happen, you need to identify the habits which are causing you to overspend or preventing you from spending even on your basic comforts and necessities. In this article, we are going to discuss the symptoms that indicate you have an unhealthy relationship with money. But first, let’s discuss what is a healthy financial relationship.
What Is A Healthy Relationship With Money?
When we read the word “health”, nutrition, exercise and good sleep are what comes to our mind. We never consider money a part of our health. The truth is, to maintain a healthy lifestyle, you need to have a healthy relationship with money.
9 Symptoms of an Unhealthy Relationship with Money
Do you have a love-hate relationship with money? Different people feel differently about money. Sometimes you feel confident about your financial situation. Other times you feel guilty about the money you spend. Some of us enjoy looking at our bank accounts, while some feel dreaded. Your relationship with money depends upon how you treat it. Whether you consider it your trusted friend or something that causes frustration, fear and guilt.
The good news is, no matter how unhealthy your relationship with money is, you can always take steps to improve it. However, to make that happen, you need to identify the habits which are causing you to overspend or preventing you from spending even on your basic comforts and necessities. In this article, we are going to discuss the symptoms that indicate you have an unhealthy relationship with money. But first, let’s discuss what is a healthy financial relationship.
What Is A Healthy Relationship With Money?
When we read the word “health”, nutrition, exercise and good sleep are what comes to our mind. We never consider money a part of our health. The truth is, to maintain a healthy lifestyle, you need to have a healthy relationship with money.
You need to consider your financial health as an important component of your overall wellbeing. If you want to develop a healthy relationship with money, you need to identify the problematic habits you have built around money over the years. Once you have identified these problems, it will get easier for you to manage your finances in a better way.
When you have a healthy relationship with money you are:
Intentional in your spending
Have reasonable or low debt
Saving to achieve your monetary goals
Investing in an emergency fund or insurance
Our spending habits stem from our childhood. The believes we learn about money as a child stick with us forever. Our beliefs regarding finances are what drive our financial behavior.
This makes it important for parents to cultivate healthy financial habits in their children. Doing so, they can prepare them to manage money in a better way as they enter adulthood.
How To Improve Your Relationship With Your Finances?
Now you must be wondering how to enhance your relationship with money. The answer is simple.
Just like any other relationship in your life, you can improve this relationship with love and compassion. If you want to build a healthy relationship with money, you need to love it no matter what the circumstances are.
To continue reading, please go to the original article here:
Currency Trading: Is It Right For Me?
.Currency Trading: Is It Right For Me?
How to Invest Money, Make Money Online, Personal Finance - Janice Friedman - July 20, 2020
Are you looking for your next significant investment? Maybe you’ve recently come into some extra money and want to make it grow. Currency trading could be the right move for you to make.
Currency trading on the world’s foreign exchange market is one of the simplest ways for individuals to break into the world of investments. It’s relatively easy to learn, has less risk than many other forms of investment, and practically anyone can do it successfully.
What Exactly Is Currency Trading and How Does It Work?
Currency trading by individuals takes place 24-hours a day online at the foreign exchange market. Also, currency trading takes place at financial centers around the world, so the market is always open for traders.
Currency Trading: Is It Right For Me?
How to Invest Money, Make Money Online, Personal Finance - Janice Friedman - July 20, 2020
Are you looking for your next significant investment? Maybe you’ve recently come into some extra money and want to make it grow. Currency trading could be the right move for you to make.
Currency trading on the world’s foreign exchange market is one of the simplest ways for individuals to break into the world of investments. It’s relatively easy to learn, has less risk than many other forms of investment, and practically anyone can do it successfully.
What Exactly Is Currency Trading and How Does It Work?
Currency trading by individuals takes place 24-hours a day online at the foreign exchange market. Also, currency trading takes place at financial centers around the world, so the market is always open for traders.
New York, Tokyo, Sydney, and London are a few of the main hubs. If you’re in search of a form of investment that you can micromanage on your own time, in between work and sleeping, trading currency may be right for you.
There are three main “lots” involved with currency trading. Each lot is made up of the base currency of your choice. There is the standard lot, which is 100,000 units of currency. The mini lot, which is 10,000 units of your chosen money. And last but not least, the micro lot, which is 1,000 units of base currency.
![FOREXX[1].jpg](https://images.squarespace-cdn.com/content/v1/5d5222a44813620001d89582/1598575927533-NLCWA27JY4DA4MC3OVRG/FOREXX%5B1%5D.jpg)
The Forex
As mentioned above, currency trading takes place on the Foreign Exchange Market, also known as the Forex market, or FX for short. It is the largest market for investing in the world and continually grows every year. Several trillion dollars worth of trading currency is completed daily on the Forex market.
Until recently most of the currency trading taking place on the FX was done by professionals. Now, with the rise of online currency trading platforms, just about anyone who is interested in trading currency can get involved.
The Forex market appears as somewhat complicated at first glance due to the level of various players and operations taking place. To give you a better idea of how trading on the Forex market works let’s take a look at the major players who’re involved.
Central banks
The central banks of the world are by far the most crucial players of trading currency on the FX. Any actions by the world’s central banks directly influence the economy of their nations. They control the market operations and set the interest rates which dictate the rise and fall of currency rates.
To continue reading, please go to the original article here:
The Good Advisor
.The Good Advisor
Robin Powell | August 13, 2020
What are people paying for when they seek out a financial planner? Where’s the real value? The answers may surprise you. Financial planners typically tout their advice on asset allocation, retirement planning, cash flow analysis, insurance, wealth protection, estate planning and so on. But is that really the benefit they bring to consumers?
Consider an entirely different business. When you take your car to get serviced, what are you paying for? Brake repair, transmission diagnosis, tire rotation, oil change? Actually, what most people want is a car that gets them safely, reliably and efficiently from A to B. They want the car serviced in good time, they want a fair estimate of what it will cost, an itemized bill, and a guarantee on parts and repairs.
Likewise, the value of a good financial planner—at least in the eyes of most clients—will often differ from the advertised services. To be sure, asset allocation and portfolio advice are important components. But these are just means to desired ends.
The Good Advisor
Robin Powell | August 13, 2020
What are people paying for when they seek out a financial planner? Where’s the real value? The answers may surprise you. Financial planners typically tout their advice on asset allocation, retirement planning, cash flow analysis, insurance, wealth protection, estate planning and so on. But is that really the benefit they bring to consumers?
Consider an entirely different business. When you take your car to get serviced, what are you paying for? Brake repair, transmission diagnosis, tire rotation, oil change? Actually, what most people want is a car that gets them safely, reliably and efficiently from A to B. They want the car serviced in good time, they want a fair estimate of what it will cost, an itemized bill, and a guarantee on parts and repairs.
Likewise, the value of a good financial planner—at least in the eyes of most clients—will often differ from the advertised services. To be sure, asset allocation and portfolio advice are important components. But these are just means to desired ends.
What people are paying for, in the final analysis, are guidance to help them meet their goals, peace of mind, a sense of security, a feeling that someone has their back and an assurance that they’ll be okay whatever the world throws at them. People value having a sense of structure about their financial life and a grasp of the choices available to them.
The technical tools that a financial planner employs—knowledge of the tax system, what drives investment returns, the role of diversification, rebalancing techniques—are without doubt critical components in delivering those desired outcomes. But they aren’t what people are paying for.
In fact, good financial planners will play a number of pivotal roles for their clients, none of which is found on the typical job description. Here are seven of those roles:
Guide. Most people know what they want or, at least, know what they don’t want out of life. What’s often missing is a sense of how they can get there. A planner provides an independent plan, showing possible pathways and the tradeoffs involved in each.
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