.DELETE THE ZEROS By MY LADIES
.DELETE THE ZEROS By MY LADIES 8/29/2019
Emailed To Dinar Recaps
HELLO FOLKS, HOW IS EVERYONE DOING? TODAY I WANT TO TALK ABOUT HOW A CURRENCY REDENOMINATES.
THERE IS AN AWFUL LOT OF SPECULATION GOING ON RIGHT NOW ABOUT A FEW CURRENCIES AND THERE ARE A GROUP OF PEOPLE THAT ARE EXPECTING TO BECOME OVERNIGHT MILLIONAIRES WITH THIS SPECULATION. SO, LET’S JUMP RIGHT IN AND SEE IF WE CAN PUT THIS RUMOR MILL TO REST ONCE AND FOR ALL.
I WANT TO START BY SHOWING YOU SOMETHING FROM THE IMF. THIS IS THE OFFICIAL ADOPTED STEPS THAT NEED TO BE TAKEN TO COMPLETE A REDENOMINATION.
I NOTICED SOME OTHERS WERE USING THIS EXAMPLE INCORRECTLY AND WERE TRYING TO CONVINCE GOOD FOLKS THAT A HUGE RETURN WOULD BE REALIZED BASED ON THIS MODEL.
FOR THOSE THAT HAVE BEEN WITH ME A WHILE I INTRODUCED THIS OVER 5 YEARS AGO AND RE-CAPS CARRIED IT. SINCE THAT TIME OTHER COPY CATS HAVE BEEN USING IT TO PROVE THEIR NONSENSE AND GARBLE.
DELETE THE ZEROS By MY LADIES 8/29/2019
Emailed To Dinar Recaps
HELLO FOLKS, HOW IS EVERYONE DOING? TODAY I WANT TO TALK ABOUT HOW A CURRENCY REDENOMINATES.
THERE IS AN AWFUL LOT OF SPECULATION GOING ON RIGHT NOW ABOUT A FEW CURRENCIES AND THERE ARE A GROUP OF PEOPLE THAT ARE EXPECTING TO BECOME OVERNIGHT MILLIONAIRES WITH THIS SPECULATION. SO, LET’S JUMP RIGHT IN AND SEE IF WE CAN PUT THIS RUMOR MILL TO REST ONCE AND FOR ALL.
I WANT TO START BY SHOWING YOU SOMETHING FROM THE IMF. THIS IS THE OFFICIAL ADOPTED STEPS THAT NEED TO BE TAKEN TO COMPLE A REDENOMINATION.
I NOTICED SOME OTHERS WERE USING THIS EXAMPLE INCORRECTLY AND WERE TRYING TO CONVINCE GOOD FOLKS THAT A HUGE RETURN WOULD BE REALIZED BASED ON THIS MODEL.
FOR THOSE THAT HAVE BEEN WITH ME A WHILE I INTRODUCED THIS OVER 5 YEARS AGO AND RE-CAPS CARRIED IT. SINCE THAT TIME OTHER COPY CATS HAVE BEEN USING IT TO PROVE THEIR NONSENSE AND GARBLE.
SO HERE FROM THE IMF. I’M GOING TO HILIGHT SOME POINTS BUT EVERYONE SHOULD CLICK THE LINK AND READ THE WHOLE THING. https://www.imf.org/external/pubs/ft/fandd/2013/12/lonnberg.htm
New Money
On occasion, a country must introduce a new currency. Turkmenistan, the former Soviet republic in central Asia, decided in 2008 to undertake a currency reform.
A major gap between the official exchange rate and the informal or market rate meant that Turkmenistan’s price system had become complex and inefficient.
This, in turn, created complexities in accounting and statistical reporting. So, the government decided to introduce a new currency before launching market-oriented reforms.
Introduction of a new currency comprises four phases. First, the necessary preconditions—sound macroeconomic policies and strong financial sector legislation—should ideally be in place or under way.
Next, careful preparation is required, setting up the policies and processes behind the reform and drafting a detailed budget for the entire currency reform (including the cost of printing and minting the new cash currency). Then comes production of the new currency, and finally the most challenging phase: implementation.
Important as all these preparations are, the success of a currency reform depends just as much on a successful public education campaign. The central bank needs to coordinate this campaign with other agencies, financial sector representatives, merchants, and the general public.
A delicate balance must be struck between providing sufficient public information and the need for confidentiality to avoid releasing clues to counterfeiters that could be used to undermine the integrity of the new currency.
The information campaign should encourage people to deposit their cash currency in accounts at banks. The campaign must make it clear that once the currency reform is initiated, account holders can withdraw their money in the form of new banknotes.
A second important point for the public education campaign is timely information on the stages of the currency reform to discourage a run on banks with temporary liquidity problems. IRAQ DID ALL THESE STEPS
To continue reading, please go to the original article at
.A Labor Day Lesson... From a 98-Year-Old Bag Boy
.A Labor Day Lesson... From a 98-Year-Old Bag Boy
By Andy Snyder, Founder Mayward Digest
Liberty
What's more important... industry or education? Several states have passed laws that prohibit schools from ending summer vacation before Labor Day. Proponents argue that it's important for families to have one more weekend to spend their cash on fun.
In Virginia, it's referred to as the "Kings Dominion Law," after the amusement park that benefits greatly from the rule. Clearly, America has her priorities straight. Right?
Why in the world do we celebrate work?
That stuff hurts.
What's Labor Day really about, anyway?
A Labor Day Lesson... From a 98-Year-Old Bag Boy
By Andy Snyder, Founder Mayward Digest
Liberty
What's more important... industry or education? Several states have passed laws that prohibit schools from ending summer vacation before Labor Day. Proponents argue that it's important for families to have one more weekend to spend their cash on fun.
In Virginia, it's referred to as the "Kings Dominion Law," after the amusement park that benefits greatly from the rule. Clearly, America has her priorities straight. Right?
Why in the world do we celebrate work?
That stuff hurts.
What's Labor Day really about, anyway?
For most folks, it's bad news. It means the end of summer... back to school... and the boss is back from vacation.
Are we to think we're really celebrating the little guy today... the guy who gets just a few bucks an hour to do the dirty work nobody else wants to do?
If so, why haven't the social justice warriors caught on? Where's the "woke" crowd taking to the streets begging for more of its fair share?
We figure they're at the beach getting their last bucket of fries and one final stroll down the boardwalk.
That's okay... we don't need them.
Paper or Plastic?
If we really want to learn about work and why it's something that many in our culture treat as though it were a dirty, four-letter word... we need to hear from Bennie Ficeto.
As we continue our series of essays on the World War II generation, we can't help but celebrate the former B-25 pilot's work.
He's a bag boy.
Pardon us... he's a bag man. Or, better, a bag veteran?
It doesn't matter. The point is the 98-year-old still ties his shoes and goes to work twice a week at the local grocery store.
He doesn't have to. Nobody is going to kick him onto the streets.
From what we can tell, he does it merely to prove a point.
He's our kind of man.
To continue reading, please go to the original article at
https://manwardpress.com/topics/liberty/labor-day-lesson-98-year-old-ww2-veteran-bagboy/
.New World Order In Meltdown
.New World Order In Meltdown
By Tyler Durden Sat 8/31/2019
Authored by Jon Hellevig via The Saker blog,
Last week was full of portentous events. Only somebody who has not been awake for the last few years will fail to realize how these at first sight unconnected events are part of the same matrix.
There was the ever louder talk in mainstream media about an approaching global recession, inverted yield curves and the negative yields, which tell us that the Western financial system is basically in coma and kept alive only by generous IV injections of central bank liquidity.
By now it has dawned on people that the central bankers acting as central planners in a command economy and printing money (aka quantitative easing) to fuel asset bubbles are about to wipe off the last vestiges of what used to be a market economy.
New World Order In Meltdown
By Tyler Durden Sat 8/31/2019
Authored by Jon Hellevig via The Saker blog,
Last week was full of portentous events. Only somebody who has not been awake for the last few years will fail to realize how these at first sight unconnected events are part of the same matrix.
There was the ever louder talk in mainstream media about an approaching global recession, inverted yield curves and the negative yields, which tell us that the Western financial system is basically in coma and kept alive only by generous IV injections of central bank liquidity.
By now it has dawned on people that the central bankers acting as central planners in a command economy and printing money (aka quantitative easing) to fuel asset bubbles are about to wipe off the last vestiges of what used to be a market economy.
Then we saw Trump taking new twitter swipes at China in his on-and-off “great trade deal” and the stock markets moving like a roller coaster in reaction to each new twitter salvo. Also, we had both Trump and Macron sweet talking about getting Russia back and again renaming their club G8.
Last Tuesday at a G7 presser in Biarritz, the Rothschild groomed Macron took it one step further opening up about the reasons why they all of a sudden longed for friendship with Russia: “We are living the end of Western hegemony.”
In the same series, Britain’s new government under Boris Johnson was telling his colleagues in Biarritz that he is now decisively going for a no-deal Brexit, after which he went back to London and staged a coup d’état by suspending parliament to ensure no elected opposition interfered with it.
Perhaps the weirdest news to crown it all, came from Jackson Hole, Wyoming, where the Western central bankers were holed up for their annual retreat. The president of Bank of England Mark Carney shocked everybody (at least those not present) by announcing that the US dollar was past its best-before and should be replaced with something the central bankers have up their sleeves.
![nuevo-orden_0[1].jpg](https://images.squarespace-cdn.com/content/v1/5d5222a44813620001d89582/1567370340623-AWLZVO5MF2MVLCBMFBFD/nuevo-orden_0%5B1%5D.jpg)
To continue reading, please go to the original article at
https://www.zerohedge.com/geopolitical/new-world-order-meltdown
.How To Invest Like Paul McCartney and Michael Jackson
.Notes From The Field By Simon Black
August 29, 2019 Bahia Beach, Puerto Rico
Here’s how you can invest like Paul McCartney and Michael Jackson
In 1978, a scruffy-looking Frenchman named Patrick Hernandez signed his first-ever recording contract.
He had spent the better part of the previous decade touring ballrooms in France, backing b-class singers without any real success to show for himself.
But in late 1978, he released his very first single, “Born to Be Alive.”
The song was an instant hit. It hit the number 1 spot in France, and within a few months, sold over a million copies in the US alone.
And Hernandez became a sensation. By the end of 1979, he had amassed fifty-two gold and platinum record awards from more than fifty countries.
Just like that, he was set for life.
Notes From The Field By Simon Black
August 29, 2019 Bahia Beach, Puerto Rico
Here’s how you can invest like Paul McCartney and Michael Jackson
In 1978, a scruffy-looking Frenchman named Patrick Hernandez signed his first-ever recording contract.
He had spent the better part of the previous decade touring ballrooms in France, backing b-class singers without any real success to show for himself.
But in late 1978, he released his very first single, “Born to Be Alive.”
The song was an instant hit. It hit the number 1 spot in France, and within a few months, sold over a million copies in the US alone.
And Hernandez became a sensation. By the end of 1979, he had amassed fifty-two gold and platinum record awards from more than fifty countries.
Just like that, he was set for life.
And 40 years later that same single still earns him around 1,200 euros per day...roughly 438,000 euros per year.
Even his official music video has over 100 million views on Youtube - the envy of most professional YouTubers.
Imagine getting paid hundreds of thousands of dollars per year for something you created over thirty years ago!
It’s rare, but it’s possible… and one of the best ways to do it is with royalties.
Royalties are cash payments you receive from assets you’ve created or own. Millions of people worldwide earn royalties every year - on assets as diverse as books, songs and movies-- but also from lesser-known sources like oil wells, gold mines or real estate.
Royalties are an all-time favorite of investors around the world - including Warren Buffett.
That’s because once you own the asset, all you’ve got to do is collect your cash every month or quarter.
I personally love royalties. To me, they are real assets - and generate income no matter what’s happening in the economy.
In times of inflation, the value of your asset goes up, protecting your savings.
In a deflationary period, the cash that the asset produces becomes even more valuable.
And the cash flow can be incredible…
To continue reading, please go to the original article at
.Don’t Let Early Retirement Box You Into Stupid Corners
.Don’t Let Early Retirement Box You Into Stupid Corners
By Steve Adcock
How many of you good people have [formally or informally] entered contests to see how little money you can spend during a period of time? Like those “No Spend” months?
If you read enough personal finance material, those money challenges are common. But, I haven’t entered a single one of them.
Not because they’re useless. Not because they are harmful.
It’s because I don’t need to enter a contest to see how much I can scrimp to get by in a certain area of my life.
That’s not the point of early retirement. Or financial independence.
These competitions have a way of “encouraging an assumption” that we need to do certain things or believe in specific philosophies in order to achieve our financial goals.
Don’t Let Early Retirement Box You Into Stupid Corners
By Steve Adcock
How many of you good people have [formally or informally] entered contests to see how little money you can spend during a period of time? Like those “No Spend” months?
If you read enough personal finance material, those money challenges are common. But, I haven’t entered a single one of them.
Not because they’re useless. Not because they are harmful.
It’s because I don’t need to enter a contest to see how much I can scrimp to get by in a certain area of my life.
That’s not the point of early retirement. Or financial independence.
These competitions have a way of “encouraging an assumption” that we need to do certain things or believe in specific philosophies in order to achieve our financial goals.
Things like:
Early retirees don’t spend money on clothes (they do)
Early retirees never spend money at restaurants (they do)
Early retirees never buy new cars (they do)
Early retirees always own instead of rent (they don’t)
In reality, financial independence and early retirement looks different to each and every one of us. We all spend money differently, and I’ve met early retirees who go out to eat regularly, or lease cars, or rent their homes instead of own. Homeownership is overrated.
The rhetoric that you hear isn’t necessarily wrong.
It just doesn’t speak for everyone. If you do things differently than the rest of us, that’s okay. Just because you love going out to eat or buying that Starbucks coffee doesn’t mean that you’ll never retire early.
Early retirement = Quality over Quantity
Here’s the biggest problem with these contests. They make it seem like simply spending less money is a major accomplishment. Like, “Yay, I didn’t spend a dime on such-‘n-such item for a whole month!“.
To continue reading, please go to the original article at
https://thinksaveretire.com/dont-let-early-retirement-box-you-into-stupid-corners/
.New U.S. Currency Already in Our Money Supply
.New U.S. Currency Already in Our Money Supply
By Anonymous Patriots SOTN Exclusive
For those of you that are stressing about the collapse of the U.S. dollar and the Federal Reserve, please take faith that initial measures have been taken to insure a not-so-hard landing when the Federal Reserve Note will be retired out of circulation, being replaced by notes printed and backed solely by the U.S. Treasury.
If you have been putting your money under the mattress for the last few years, you will want to take the time to read this article so that you can replace the old fiat currency of the Federal Reserve Note (FRN) with new currency.
We believe that those who do not start taking action will find in the near future that their fiat currency is unredeemable. This is particularly true of the billions of dollars that are held in cash outside of the United States, most of which will not be redeemable once the transition is made.
New U.S. Currency Already in Our Money Supply
By Anonymous Patriots SOTN Exclusive
For those of you that are stressing about the collapse of the U.S. dollar and the Federal Reserve, please take faith that initial measures have been taken to insure a not-so-hard landing when the Federal Reserve Note will be retired out of circulation, being replaced by notes printed and backed solely by the U.S. Treasury.
If you have been putting your money under the mattress for the last few years, you will want to take the time to read this article so that you can replace the old fiat currency of the Federal Reserve Note (FRN) with new currency.
We believe that those who do not start taking action will find in the near future that their fiat currency is unredeemable. This is particularly true of the billions of dollars that are held in cash outside of the United States, most of which will not be redeemable once the transition is made.
As our readers know, our articles can be a bit lengthy, but we like to fully educate you on our topics so that you can take the message and disseminate to your constituency in a manner that will resonate with them.
Not everyone will need to know all the details, but for those reading this article, you are at the top level of the underground information pyramid for the New Fourth Estate and will need to know background and strategies for going forward.
In this article, you will learn:
How the 2009 $100 bill series is a hybrid of the old FRN and the new USTN (US Treasury Note);
How the old $50 FRN has been replaced with a new USTN $50 bill;
How to protect your cash stash if you are still holding old FRNs;
How Benjamin Franklin created fiat currency and why his image will be destroyed on the $100 FRN as a symbol of the We the People choosing to govern ourselves again and eliminating Globalists from our banking and government systems;
How the new USTN is backed by the gold-silver standard;
A hidden symbol in the new USTN that explains how U.S. wealth was wiped out in 2009 with a flood-fire-flood on Water Street;
Why you can’t get a title to your real estate once you have paid off your mortgage;
How We the People are instrumental in completing the process of making the big switch;
How our money supply will become a mixture of digital, paper, and metals in the near future as long as We the People wake up and see the writing on the $100 bill.
To continue reading, please go to the original article at
.12 Things A Lottery Winner Should Never Do
12 Things A Lottery Winner Should Never Do
From the Dinar Recaps Archives originally posted on 7/4/2019
Powerball & Mega Millions Lottery Above $650 Million:
12 Things the Winner Should Never Do
By Douglas A. McIntyre July 3, 2016 9:30 am EDT
This advice is worthy for any sudden wealth situation
It looks like lottery history is in the making for this holiday weekend. Neither the Powerball nor Mega Millions lotteries have produced a winner for the hundreds of millions of dollars up for grabs from June into July. With Mega Millions now rolling up to $415 million and with the Powerball now at $243 million, this now puts the weekend of July 1, 2016 as having a whopping $658 million combined.
The Mega Millions drawing is set for Friday, July 1 and the Powerball drawing is set for Saturday, July 2. There already could be a winner
12 Things A Lottery Winner Should Never Do
From the Dinar Recaps Archives originally posted on 7/4/2019
Powerball & Mega Millions Lottery Above $650 Million:
12 Things the Winner Should Never Do
By Douglas A. McIntyre July 3, 2016 9:30 am EDT
This advice is worthy for any sudden wealth situation
It looks like lottery history is in the making for this holiday weekend. Neither the Powerball nor Mega Millions lotteries have produced a winner for the hundreds of millions of dollars up for grabs from June into July. With Mega Millions now rolling up to $415 million and with the Powerball now at $243 million, this now puts the weekend of July 1, 2016 as having a whopping $658 million combined.
The Mega Millions drawing is set for Friday, July 1 and the Powerball drawing is set for Saturday, July 2. There already could be a winner
It seems that the new American Dream is winning the lottery. After all, you can become filthy rich in an instant. Winning the lottery also has to sound much more exciting than a life of hard work followed by a lifetime of savings and being responsible. Besides that, the media and the politicians keep telling you how hard it is to get ahead and to succeed in life these days.
...
The odds should have generated a major winner in each of these lotteries by now. What is amazing is that the $658 million combined would not represent a record lottery even if it was combined. If no winners come this weekend, then they will likely roll up to around $700 million.
Lottery players must know that the cash option is lower. The annuity value of $415 million for the Mega Millions would be $286.4 million for the cash option, while the Powerball annuity value of $243 million would be just over $165.9 million for the cash value. Whether lottery winners take the annuity or the cash option, either lottery should be generating multi-generational wealth.
What lottery winners have to understand is that sudden extreme wealth brings the need for sudden extreme responsibility.
This is why 24/7 Wall St. has created the 12 Things Not to Do If You Win the Lottery.
Can you imagine winning a sum of over $100 million, $200 million, or $300 million? Even after you back out the cash discounts and the taxes, this is empire-building money.
To continue reading, please go to the original article at
.How To Become A Billionaire In Five Easy Steps
.Notes From The Field By Simon Black
August 28, 2019 Bahia Beach, Puerto Rico
How To Become A Billionaire In Five Easy Steps
Every morning here in Puerto Rico, I wake up around 6am as the sun rises over the ocean in front of my house. And I pretty much head straight to the gym.
Once there, one of my favorite medieval torture devices is a fairly new exercise bike called a Peloton.
In case you haven’t used one before, a Peloton is like any other stationary exercise bike. You pedal a lot, and it sucks.
The key difference is that Peloton bikes are connected to the Internet, and the company live streams classes directly to the integrated monitor on your bike.
Notes From The Field By Simon Black
August 28, 2019 Bahia Beach, Puerto Rico
How To Become A Billionaire In Five Easy Steps
Every morning here in Puerto Rico, I wake up around 6am as the sun rises over the ocean in front of my house. And I pretty much head straight to the gym.
Once there, one of my favorite medieval torture devices is a fairly new exercise bike called a Peloton.
In case you haven’t used one before, a Peloton is like any other stationary exercise bike. You pedal a lot, and it sucks.
The key difference is that Peloton bikes are connected to the Internet, and the company live streams classes directly to the integrated monitor on your bike.
So instead of going to a spinning class, you can simulate being in a class and having someone yell at you from thousands of miles away.
You might be thinking-- can’t you get the same experience on a regular stationary bike while watching some YouTube videos?
Why yes, that would pretty much be the same experience.
But Peloton prides itself on building wellness, connectedness, and happiness-- all the ‘ness’s’ that Millennials love. So it’s pretty popular.
And following in the footsteps of WeWork, Peloton formally filed paperwork yesterday to go public on the NASDAQ under ticker symbol PTON.
The company anticipates a share price that will value the company at roughly $8 billion.
Yet according to its filing, the company lost $195 million in the fiscal year ending June 30, 2019. That’s four times worse than the company’s $48 million loss in Fiscal Year 2018.
It’s normal for early-stage businesses to lose money at first. Rome wasn’t built in a day. But usually management can provide guidance about the light at the end of the tunnel.
Not Peloton.
Just like WeWork, Peloton expects to continue losing money for the foreseeable future, and acknowledges that they may never achieve profitability.
Peloton also provides the most absurd statements as its company mission. Just like how WeWork aims to ‘elevate the world’s consciousness’, Peloton claims that it “sells happiness”.
It’s SEC filing also contains a bunch of fluffy graphics showing off their diversity, community, and interconnectedness.
To continue reading, please go to the original article at
https://www.sovereignman.com/investing/how-to-become-a-billionaire-in-five-easy-steps-25518/
.Six Simple Money Habits That Changed My Life
Six Simple Money Habits That Changed My Life
By Jim Wang 28 August 2019
Habits play such an important role in every aspect of your life. And those habits, good or bad, are reflected in your finances.
Some of our habits are small, almost insignificant. Over time, though, they have a large effect. There are little things that I've done over many years that have had outsized results. Individually, they don't move the needle. But they're like little course corrections on the cruise ship of life. A little change early on, repeated and compounded over many years, can have a significant impact.
When you add them together, they can help you achieve things you never thought possible.
Six Simple Money Habits
Small Habits Lead to Big Results
Six Simple Money Habits That Changed My Life
By Jim Wang 28 August 2019
Habits play such an important role in every aspect of your life. And those habits, good or bad, are reflected in your finances.
Some of our habits are small, almost insignificant. Over time, though, they have a large effect. There are little things that I've done over many years that have had outsized results. Individually, they don't move the needle. But they're like little course corrections on the cruise ship of life. A little change early on, repeated and compounded over many years, can have a significant impact.
When you add them together, they can help you achieve things you never thought possible.
Six Simple Money Habits
Small Habits Lead to Big Results
A prime example for me was gaining strength. I made a decision to build muscle but I didn't want to be one of those guys who spent hours in the gym. I learned that there are workout regimens that don't require a ton of time, but which still improve strength with just 20-30 minutes a session. These routines target several muscle groups at once. (The deadlift is a good example.)
Because these sessions only took 20-30 minutes, it was easy to make time for them. As a result, I started going to the gym more regularly. And once I was there, something funny happened.
On some days, I did the workout and left. On others, I felt like I could do more. So, I incorporated other exercises that targeted smaller muscle groups. The promise of a short session got me in the habit of going to the gym. That was the hard part. Once I was there, I often did more than I had planned.
At first, I saw my strength increase until I hit a plateau. I talked with some folks and realized I had two non-obvious weaknesses: insufficient protein intake and grip strength.
For the protein, I added a bit of unflavored protein into my coffee each morning.
For grip strength, I started doing more dumbbell exercises in lieu of barbell exercises. The simple act of carrying the heavy weights to a bench helped increase my grip strength.
Both were small changes that became daily habits, which eventually had a big impact on my exercise regimen. Neither was difficult, I just had to discover them. And today, I'm stronger than I've ever been thanks to these seemingly minor changes.
But you're not here for fitness tips from me. You're here for money tips, right? Here are some simple habits I've developed that might not seem like much at first, but which have had a huge impact on my finances. Maybe they'll help you too.
To continue reading, please go to the original article at
https://www.getrichslowly.org/simple-money-habits/#more-237236
.What My Immigrant Mom Can Teach You About Money
.What My Immigrant Mom Can Teach You About Money
September 1, 2017
How an Immigrant Does Money
My mom thinks that if she had $1,100 a month she’d be able to retire rich. That’s just $13,200 a year. To most people reading this that amount is poverty level. You need millions to retire, right?
My mom and I have this tradition: since she can’t read or write, she puts any unfamiliar mail aside, waits for me to come visit, so I can then read the mail and explain to her what it says.
This last time, she got a letter from Social Security. The letter showed a chart of how much she was eligible for if she retired. I explained that if she retired right now, at 62, she’d get a little over $1,100 a month. But if she waited until she was 65, she’d get $1,500 per month.
“So, what do you think?” I asked.
What My Immigrant Mom Can Teach You About Money
September 1, 2017
How an Immigrant Does Money
My mom thinks that if she had $1,100 a month she’d be able to retire rich. That’s just $13,200 a year. To most people reading this that amount is poverty level. You need millions to retire, right?
My mom and I have this tradition: since she can’t read or write, she puts any unfamiliar mail aside, waits for me to come visit, so I can then read the mail and explain to her what it says.
This last time, she got a letter from Social Security. The letter showed a chart of how much she was eligible for if she retired. I explained that if she retired right now, at 62, she’d get a little over $1,100 a month. But if she waited until she was 65, she’d get $1,500 per month.
“So, what do you think?” I asked.
She thought for a second and said, “If I had the $1,100, then that’s rich enough.” In her mind, that’s $1,100 she wouldn’t have to work for. It’d be enough to cover her basic needs. What else would you need?
Aside from social security, my mom has saved up a high five-figure sum in 401k funds, plus five-figure amounts set aside for both my sister and me. And yet. She has never made more than $14 an hour. She was the breadwinner, and worked to support a family of four.
When I was little, my dad got fired from his job one day and never went back to work. Then he passed away when I was a teenager.
Still, us kids never wanted for much of anything. We lived a life of amazing privilege: a steady roof over our heads, full bellies, and parents who wondered about us when we went out at night.
You’ve seen the startling headlines. That nearly half of Americans don’t have an extra $400 laying around in case of an emergency. And most Americans have little saved for retirement. In my mom’s age group, the median amount saved is a paltry $17,000.
So, how is it that an illiterate, low-wage earning immigrant has managed to surpass these Americans?
Let’s start from the beginning.
Coming to America
Most people would say my parents came to America with the most unfortunate circumstances: they didn’t speak any English, were uneducated, and didn’t have a penny to their name. Coming from a tropical country, also unfortunate was the cold, snowy area they landed in: a small, working-class, predominantly white city, because the local church folks brought them there, and my parents didn’t know any better.
To continue reading, please go to the original article at
http://www.theluxestrategist.com/immigrant-mom-can-teach-money/