Alice Walton Quotes About Success and Work

Alice Walton Quotes About Success and Work

By Emmy Wallin

Alice Walton is an heiress to the fortune of Walmart Inc. As of 2019, Walton had a net worth of $42.5 billion, making her the 18th richest person in the world.

Check out our list of wise Alice Walton quotes that all business people can read and learn from.

32 Alice Walton Quotes

1. ” Expenses should never exceed one percent of our purchases.” – Alice Walton

2 .”To succeed in this world, you have to change all the time.” – Alice Walton

3 .”High expectations are the key to everything.” – Alice Walton

4 .”Do it. Try it. Fix it.” – Alice Walton

5 .”Most everything I’ve done I’ve copied from somebody else.” – Alice Walton

6. “I was asked what I thought about the recession. I thought about it and decided not to take part.” – Alice Walton

7. ”When all else fails, put on a costume and sing a silly song.” – Alice Walton

8 .”Take the best out of everything and adapt it to your needs.” – Alice Walton

9. ”Control your expenses better than your competition. This is where you can always find a competitive advantage.” – Alice   Walton

10 ″Leaders must always put their people before themselves. If you do that, your business will take care of itself.” – Alice Walton

11 . ”Commit to your business. Believe in it more than anybody else.” – Alice Walton

12. “Individuals don’t win in business, teams do.” – Alice Walton

13 .” Appreciate everything your associates do for the business.” – Alice Walton

14. ”If you want a successful business, your people must feel that you are working for them – not that they are working for you.” – Alice Walton

15 .”You can make a lot of mistakes and still recover if you run an efficient operation. Or you can be brilliant and still go out of business if you’re too inefficient.” – Alice Walton

16 .”There’s a lot more business out there in small-town America than I ever dreamed of.” – Alice Walton

17 .”I not only knew I wanted to go into retailing, but I also knew I wanted to go into business for myself.” – Alice Walton

18 .”Lose your smile and lose your customers.” – Alice Walton

19 .”If you don’t listen to your customers, someone else will.” – Alice Walton

20 .”There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” – Alice Walton

21 .”If one of our customers comes into the store without a smile, I’ll give them one of mine.” – Alice Walton

22 .”Exceed your customer’s expectations. If you do, they’ll come back over and over. Give them what they want – and a little more.” – Alice Walton

23 .”The way management treats their associates is exactly how the associates will then treat the customers.” – Alice Walton

24 .”The key to success is to get out into the store and listen to what the associates have to say. It’s terribly important for everyone to get involved. Our best ideas come from clerks and stockboys.” – Alice Walton

25. ”I had confidence that as long as we did our work well and were good to our customers, there would be no limit to us.” – Alice Walton

26 .”The secret of successful retailing is to give your customers what they want.” – Alice Walton

27 .”Job security lasts only as long as the customer is satisfied. Nobody owes anybody else living.” – Alice Walton

28 .”Focus on something the customer wants, and then deliver it.” – Alice Walton

29 .”Each Wal-Mart store should reflect the values of its customers and support the vision they hold for their community.

There is only one boss. The customer…” – Alice Walton

To continue reading, please go to the original article here:

https://wealthygorilla.com/alice-walton-quotes/

The 10 Strongest Currencies in the World

The 10 Strongest Currencies in the World  

 By Matt McIntyre

We all like to get the most out of our money, even if it’s just a few extra cents on the dollar.

With that said, we’ve put together a list of some of the worlds strongest currencies, so you can think about getting a little extra buying power when travelling abroad.

If you think GBP or USD is the strongest currency in the world, then think again!

Here’s a list we put together of the 10 strongest currencies in the world:

The 10 Strongest Currencies In The World

The list of currencies and figures mentioned below have been compiled from various sources around the web, such as FXSSI, Currency Kart & Highest Currency.

These are the 10 strongest currencies in the world:

 10. US Dollar

Strongest Currencies - US Dollar

Kicking off our list of the strongest currencies in the world is the US dollar.

It’s the currency of the United States of America and is the most traded and used currency in the world.

It also holds the title of the worlds primary reserve currency and is held by both central and commercial banks all over the world.

Depending on your currency, it’s not the best time to convert some of your cash into dollars, however, it’s well worth keeping an eye on how it performs, as it doesn’t look like it’s going anywhere soon!

9. Swiss Franc – (1 CHF = 1.01 USD)

Strongest Currencies - Swiss Franc

Next on the list, we have the Swiss Franc, which is the official currency of Switzerland and Liechtenstein!

At roughly 1.01 USD for each CHF, it’s currently not the best conversion rate to USD on the list, however, the Swiss Franc still comes in at number nine for good reason.

Switzerland is one of the wealthiest countries in the world and has a solid track record in banking and finance.

Having some of the worlds strictest monetary policies and lowest debt levels has drawn many an investor to view the Swiss Franc as a “Safe Bet”, choosing to store some of their wealth in the official currency of Switzerland.

Also known for being the sixth most traded currency in the world, the Swiss Franc is expected to retain its value in the foreseeable future!

8. Euro (1 Euro = 1.10 USD)

Strongest Currencies - Euro

The EURO is the primary currency of the European Union and was adopted on January 1, 1999.

It holds the title as the second world reserve currency and is the official currency of 19 of the 28 member countries in the EU.

The currency first began virtually, in the form of traveller cheques and electronic bank transfers, and physical notes and coins appeared a few years later in 2002.

The introduction of the EURO was meant to increase the economic interdependency of trade between all EU member that choose to adopt it.

One EURO is approximately equivalent to 1.10 USD at the time of writing.  

7. Cayman Islands Dollar – (1 KYD = 1.20 USD)

Strongest Currencies - Cayman Island Dollar

The next strongest currency in the world is the Cayman Islands Dollar.

The Cayman Islands are a British Territory located in the Caribbean and are well known for being one of the worlds best tax havens.

They provide banking licenses for a number of the worlds biggest banks, hedge funds and insurance companies.

The KYD was introduced in 1972 as a replacement for Jamaican Dollars and has gone on to become one of the worlds strongest currencies.

6. Gibraltar Pound – (1 GIP= 1.23 USD)

Strongest Currencies - Gibraltar Pound

The Gibraltar pound is the official currency of Gibraltar.

As well as being used on its own, it’s also able to be exchanged with the British Pound at par value and, aesthetically, looks very similar.

All notes and coins of the Gibraltar Pound are printed by the Government of Gibraltar.

The most common Gibraltar exchange rate is the GIP to Euro rate.

5. Pound Stirling – (1 GBP = 1.26 USD)

Strongest Currencies - Pound Sterling

Coming in at number five on our list of the strongest currencies in the world is the Pound Stirling, the official currency of the United Kingdom.

The Pound Stirling is often perceived as being the strongest currency in the world, however, that’s not the case, as it falls short to four Arabian currencies.

With the United Kingdom deciding to leave the EU, this has had a negative effect on the Pounds value.

It’s one of the most widely used currencies and the oldest independent currency in the world, being first used in the United Kingdom in 1489.

At the moment, 1 GBP can be exchanged for 1.26 USD.  

4. Jordanian Dinar – (1 JOD = 1.41 USD)

Strongest Currencies - Jordanian Dinar

The Jordanian Dinar, JOD, is the official currency of Jordan, an Arabic nation on the bank of the river Jordan.

Introduced in 1949, replacing the Palestinian pound, the Jordanian Dinar has been pegged by the United States Dollar for the past 2o years.

This has helped it to become one of the strongest currencies in the world.

However, despite its status, the Jordanian Dinar is still only used in Jordon and nowhere else in the world.

One JOD is currently valued at 1.41 USD. 

3. Omani Rial – (1 OMR = 2.60 USD)

Strongest Currencies - Omani Rial

The Omani Rial is the third strongest currency on our list.

This Arabian currency was first introduced in 1973 and has seen a significant rise in value due to the success of the countries oil supply and being pegged to the U.S Dollar.

It’s the official currency of the Sultanate of Oman and is the third-highest status currency in the world.

The purchasing power of this currency is so high, that the government has to introduce 1/4 and 1/2 Rial banknotes.

As of 2019, 1 OMR is equivalent to 2.60 USD.  

To continue reading, please go to the original article here:

https://wealthygorilla.com/strongest-currencies-world/

​What is Financial Literacy?

​What is Financial Literacy?

Posted in Dinar Recaps Archives on 7/27/2019

What is Financial Literacy?
By JJ

Do you feel like you are financially literate?

Do you know what financial literacy is?

If not, that’s okay.

The goal of this post is to help you to understand what financial literacy is and why you should care about it.

Let’s break it down.

Let’s start with the word literacy. When someone is ‘literate’ it means they have the knowledge and skills that are necessary to read and write.

When someone is ‘financially literate’ it means they have the knowledge and skills that are necessary to make well informed decisions about their personal finances.

A Definition Of Financial Literacy

The Organization for Economic Co-operation and Development (OECD) and it’s International Network on Financial Education (INFE) define financial literacy as:

“A combination of awareness, knowledge, skill, attitude and behaviour necessary to make sound financial decisions and ultimately achieve individual financial wellbeing.”

People who are financially literate are able to effectively do things such as:
Make a budget
Save money (for a car, house, retirement etc.)
Pay off (or avoid) student loans
Use a credit card
Achieve financial stability
Etc….

People who lack financial literacy often find themselves in the following situations:
Unable to make a budget
Unable to save money
Unable to pay off their student loans
Drowning in credit card debt
Living pay check to pay check
Etc….

You get the picture.

To continue reading, please go to the original article here:

http://thefinancialgraduate.com/what-is-financial-literacy/

.What Does Wealth Mean To You?

What Does Wealth Mean To You?

Posted on Dinar Recaps Archives on 8/4/2019

What Does Wealth Mean To You?Post From Money Saved Is Money Earned

As a member of the personal finance blogger community, I’ve been privy to a multitude of differing opinions about a myriad of finance topics.

While most agree with a few broad topics (financial independence is good, for example) you’ll find that there’s a great deal of variance even among those who are financially savvy.

Go beyond personal finance communities and the variance grows even more.

Why is there such a difference?

What Does Wealth Mean To You?

When it comes down to it, I think a lot of this variance is simply a product of the differences in how people value wealth and success.

Although wealth and success are not traditional synonyms, in this case I think they should be because how you define success is also tied to what you consider wealth.

After all, one definition of wealth is an abundance of a resource. That resource could be many different things depending on what you value and what you consider successful.

Let’s delve more into what wealth means to you, why it matters, and how you can use your definitions of wealth and success to live a more fulfilled life.

What Do You Value?

How do you value wealth and success?

The reason for the variance in opinions and decisions in regard to personal finance is because everyone is different when it comes to what they value.

Yes, lack of financial education can lead you down some dark paths and you should try to avoid the debt trap while in pursuit of what you value, but ultimately a large part of our decisions will be driven by what we value.

So, what is it that you value? How do you measure success? What makes you wealthy?

There are a plethora of things you could mention, but most can be summed up in this list:

Income/moneySavings/investmentsTimeFamily/friendsWorkTitlesRecognitionThings/possessionsHealthExperiences

This list is by no means exhaustive or exclusive, and there will likely be quite a bit of overlap between some of these categories.

No matter which of the above items is most important to you, what you value and how you define wealth and success is largely dependent on your background and experiences.

Ask someone if being a millionaire would make them successful and many (perhaps most) would agree. However, ask someone from a different background if being a millionaire would make them successful and they might claim you need a lot more.

As with anything, it’s the differences in background and experience that shape your attitude and understanding of money, wealth, and success.

This is why everyone is a little different when it comes to personal finance and what matters to them. ​

Why Does It Matter?

You may be thinking that the idea of people defining wealth and success differently is an obvious concept.

So why does this matter? Why do you need to understand what wealth and success mean to you?

It matters because your happiness will ultimately be tied to your definition of success and wealth, regardless of what others think or how they behave.

And it isn’t always easy to determine what means the most to you.

Many people go through life with very little insight into their behavior and the motives behind it. They are unable, or unwilling, to take a look in the mirror and to understand why they act the way they do.

​Aside from knowing what you value and why, understanding your behavior and the factors that shape it are really the only way to truly change that behavior if so desired.

Essentially, what we’re talking about is a concept called metacognition, or thinking about your thinking.

To continue reading, please go to the original article here:

https://www.moneysavedmoneyearned.com/what-does-wealth-mean-to-you/

Take My Cash, You Discriminatory Corporate Buffoons

Posted in Dinar Recaps Archives 8/2/2019

Take My Cash, You Discriminatory Corporate Buffoons
By Ashwin Rodrigues Jul 31 2019,

Posted in Dinar Recaps Archives 8/2/2019

'We don't take cash' is another way to say 'No broke people allowed.'

Disdain for poor people is often packaged as an innocent design choice. There is, for instance, an entire genre of architecture dedicated to subtly preventing people from sleeping or lying down.

But cashless businesses, which retailers claim improve store operations, and which seem to keep popping up in the bougiest corners of the cities that have not banned them, are an especially offensive and insidious way to keep lower-wage people out of coffee shops and salad spots.

Cash bans turn regular retailers into semi-private spaces, as some consumers, such as those who are “unbanked” (without a bank account) and “underbanked” (those who have a bank account but rely on alternative, often predatory financial products like check cashing) cannot afford the cost of admission.

​An estimated 25 percent of U.S. households are unbanked or underbanked.

“Moving to a cashless society essentially prevents lower-wage workers and those without credit from accessing certain products and services,” said Alexandrea Ravenelle, assistant professor of sociology at the University of North Carolina, whose work focuses on the sharing economy.

“It creates a two-tiered society of those who can spend freely and those who are essentially discriminated against on the basis of credit access.”

People use cash as a way to budget, and avoid fees for overdrafts or low balances, Ravenelle added. “If they do have access to prepaid debit cards, those cards often come with numerous fees.

Research also shows that people tend to spend more when they're using credit cards—which is especially problematic if someone has a tight budget or limited funds. It's very easy to go over budget when using plastic,” she said. Just look at all the people who refer to Venmo as “not real money.”

Cashlessness is not a new phenomenon. Visa, in an early-2000’s campaign for their Visa Check Card, attempted to smear it as a cumbersome payment instrument. Ads show busy theater-goers and convenience store customers moving and swiping their cards in fast-paced synchrony until one customer produces cash from his wallet, bringing the symphony to a screeching halt.

Visa went even further in 2017, offering $10,000 to businesses willing to go cashless, according to a Bloomberg report.

To continue reading, please go to the original article here:

https://www.vice.com/en_us/article/kzm4yv/cashless-businesses-discrimination

45 Carlos Slim Helu Quotes About Wealth & Success

45 Carlos Slim Helu Quotes About Wealth & Success

By Dan Western

Carlos Slim Helu is a Mexican business magnate, investor, and philanthropist;

He was also once the richest man in the world, according to Forbes, and now remains on the list of the top 10 billionaires worldwide.

Carlos Slim’s conglomerates include real estate, retail, hospitality, education, health care, industrial manufacturing, energy, transportation, media, entertainment, high-technology, sports, and financial services.

We’ve put together this collection of the greatest Carlos Slim Quotes:

45 Carlos Slim Helu Quotes

1. “All times are good times for those who know how to work and have the tools to do so.” – Carlos Slim Helu

2. “I’ve always said that the better off you are, the more responsibility you have for helping others. Just as I think it’s important to run companies well, with a close eye to the bottom line, I think you have to use your entrepreneurial experience to make corporate philanthropy effective.” – Carlos Slim Helu

3. “Staying occupied displaces preoccupation and problems, and when we face our problems, they disappear.” – Carlos Slim Helu

4. “The truth is, you leave this world with nothing. What you are is a temporary administrator, and you must administer well… the wealth in your care, and generate more. The surplus can be used to do many things for people.” – Carlos Slim Helu

5. “Competition makes you better, always, always makes you better, even if the competitor wins.” – Carlos Slim Helu

6. “It’s important to give a better country to your children, but it is more important to give better children to your country.” – Carlos Slim Helu

7. “Inertia is in our minds always.” – Carlos Slim Helu

8. “The only way you finish with poverty is with jobs.” – Carlos Slim Helu

9. “The key is the Internet. The United States is by far the most advanced country in this new digital culture, so we have to be there. The Internet is the heart of this new civilization, and telecommunications are the nervous system, or circulatory system.” – Carlos Slim Helu

10. “With three work days a week, we would have more time to relax; for quality of life.” – Carlos Slim Helu

11. “Firm and patient optimism always yields its rewards.” – Carlos Slim Helu

12. “Well, when I was very young, maybe 12 years, I began to make investments.” – Carlos Slim Helu

13. “Money is not a goal. The goal is to make companies grow, develop, be competitive, be in different areas, be efficient to have a great human team inside the company.” – Carlos Slim Helu

14. “Anyone who is not investing now is missing a tremendous opportunity.” – Carlos Slim Helu

15. “When you live for others’ opinions, you are dead. I don’t want to live thinking about how I’ll be remembered.” – Carlos Slim Helu

16. “If you are in business, you are not enjoying. You are working.” – Carlos Slim Helu

17. “In this new wave of technology, you can’t do it all yourself, you have to form alliances.” – Carlos Slim Helu

18. “It’s very important for leaders in business to work to create human capital, a team that has the same sense of purpose and alignment.” – Carlos Slim Helu

19. “When we decide to do something, we do it quickly.” – Carlos Slim Helu

20. “Most people try to make a better world for our children when what they should be doing is making better children for our world.” – Carlos Slim Helu

21. “Work well done is not only a responsibility to yourselves and society; it is also an emotional need.” – Carlos Slim Helu

22. “Choose the right employees and then set them loose.” – Carlos Slim Helu

23. “In business, you invest when things are not in good shape. When you invest at these times, you take a better position than your competitors. When there is a recession and your competition does not invest, they are giving you the advantage.” – Carlos Slim Helu

24. “All businesses make mistakes. The trick is to avoid large ones.” – Carlos Slim Helu

25. “People need to feel very good about their achievements. They get pride from what they are doing.” – Carlos Slim Helu

26. “One of the big errors people are making right now is thinking that old-style businesses will be obsolete, when actually they will be an important part of this new civilization. Some retail groups are introducing e-commerce and think that the bricks are no longer useful. But they will continue to be important.” – Carlos Slim Helu

27. “Focus on essentials and try not to get distracted and bogged down by things that don’t add value to the bottom line.” – Carlos Slim Helu

28. “You cannot have people in your organization who are pessimists. They take you to mediocrity.” – Carlos Slim Helu

29. “Courage taught me no matter how bad a crisis gets… any sound investment will eventually pay off.” – Carlos Slim Helu

30. “When we face our problems, they disappear. So learn from failure and let success be the silent incentive.” – Carlos Slim Helu

31. “I learned from my father that you continue to invest and reinvest in your business – including during crises.” – Carlos Slim Helu

32. “You cannot live without doing something.” – Carlos Slim Helu

33. “When you are convinced what to do and what you need to do, it’s not hard to do that.” – Carlos Slim Helu

34. “Think of an athlete. He may be very good in his own house, but not as good as his neighbors. You have to go beyond your home. You have to go worldwide.” – Carlos Slim Helu

35. “Anything that has privileges have responsibility and all people that is clear about their responsibility has compromise.” – Carlos Slim Helu

36. “With good perspective of history we can have a better understanding of the past and present, and thus a clear vision of the future.” – Carlos Slim Helu

37. “Live the present intensely and fully, do not let the past be a burden, and let the future be an incentive. Each person forges his or her own destiny.” – Carlos Slim Helu

38. “When there is a crisis, that’s when some are interested in getting out and that’s when we are interested in getting in.” – Carlos Slim Helu

To continue reading, please go to the original article here:

https://wealthygorilla.com/carlos-slim-helu-quotes/#ixzz5NH9zLM16

The 35 Most Notorious Napoleon Hill Quotes

The 35 Most Notorious Napoleon Hill Quotes

By Dan Western

Napoleon Hill was an American author, who was one of the first authors to get involved in the personal success genre.

Napoleon spoke on personal success, personal beliefs, and the principles you need in order to achieve success.

His ideas were absolutely brilliant, and I think that when it comes to self development, Napoleon’s book “Think and Grow Rich” is regarded as an excellent read.

This article outlines 35 of the most notorious Napoleon Hill quotes, many of which you’ve heard before and taken in. There’s no denying that the insights behind these quotes are genius.

35 Notorious Napoleon Hill Quotes

1. “The starting point of all achievement is desire.” – Napoleon Hill

2. “Strength and growth come only through continuous effort and struggle.” – Napoleon Hill

3. “A goal is a dream with a deadline.” – Napoleon Hill

4. “Your big opportunity may be right where you are now.” – Napoleon Hill

5. “Patience, persistence and perspiration make an unbeatable combination for success.” – Napoleon Hill

6. “If you cannot do great things, do small things in a great way.” – Napoleon Hill

7. “Great achievement is usually born of great sacrifice, and is never the result of selfishness.” – Napoleon Hill

8. “Think twice before you speak, because your words and influence will plant the seed of either success or failure in the mind of another.” – Napoleon Hill

9. “Before success comes in any man’s life, he’s sure to meet with much temporary defeat and, perhaps some failures. When defeat overtakes a man, the easiest and the most logical thing to do is to quit. That’s exactly what the majority of men do.” – Napoleon Hill

10. “Cherish your visions and your dreams as they are the children of your soul, the blueprints of your ultimate achievements.” – Napoleon Hill

11. “Fears are nothing more than a state of mind.” – Napoleon Hill

12. “Opportunity often comes disguised in the form of misfortune, or temporary defeat.” – Napoleon Hill

13. “Victory is always possible for the person who refuses to stop fighting.” – Napoleon Hill

14. “Procrastination is the bad habit of putting of until the day after tomorrow what should have been done the day before yesterday.” – Napoleon Hill

15. “Don’t wait. The time will never be just right.” – Napoleon Hill

16. “The ladder of success is never crowded at the top.” – Napoleon Hill

17. “All achievements, all earned riches, have their beginning in an idea.” – Napoleon Hill

18. “There is one quality which one must possess to win, and that is definiteness of purpose, the knowledge of what one wants, and a burning desire to possess it.” – Napoleon Hill

19. “Money without brains is always dangerous.” – Napoleon Hill

20. “You can start right where you stand and apply the habit of going the extra mile by rendering more service and better service than you are now being paid for.” – Napoleon Hill

21. “There are no limitations to the mind except those we acknowledge.” – Napoleon Hill

22. “If you do not conquer self, you will be conquered by self.” – Napoleon Hill

23. “Any idea, plan, or purpose may be placed in the mind through repetition of thought.” – Napoleon Hill

24. “Happiness is found in doing, not merely possessing.” – Napoleon Hill

25. “Success in its highest and noblest form calls for peace of mind and enjoyment and happiness which come only to the man who has found the work that he likes best.” – Napoleon Hill

26. “Until you have formed the habit of looking for the good instead of the bad there is in others, you will be neither successful nor happy.” – Napoleon Hill

27. “Whatever the mind of man can conceive and believe, it can achieve.” – Napoleon Hill

28. “The man who does more than he is paid for will soon be paid for more than he does.” – Napoleon Hill

29. “The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those which fail.” – Napoleon Hill

To continue reading, please go to the original article here:

https://wealthygorilla.com/the-35-most-notorious-napoleon-hill-quotes/#ixzz5P09ZzuXy

15 Quotes From Successful Investors That Will Change Your Life

15 Quotes From Successful Investors That Will Change Your Life

From Pocket Sense By Natalie Saar

It takes a wise person to make millions and billions of dollars from investments, so why not partake in some of that wisdom? From Berkshire Hathaway CEO Warren Buffett to historically notable inventor and investor Benjamin Franklin, here are some words to live by some some of the wisest people in the history of investing, and not just when it comes to money.

1. Don't Lose Money

“Rule number one: Don’t lose money. Rule number two: Don’t forget rule number one.” – Warren Buffett

This seems pretty straightforward, but it’s incredible to think about how often in our lives we lose money because of one reason or another. Las Vegas has made billions of dollars off of people prepared to lose money without a real hope of making it back. It may not be the golden rule, but it’s certainly one to keep close to the chest.

2. Invest in Knowledge

"An investment in knowledge pays the best interest." – Benjamin Franklin

Whether you're considering investing or switching careers, investing in knowledge will pay dividends in time and money. Consider the five-hour rule – something Oprah, Buffett and Bill Gates all adhere to.

It’s simply spending five hours a week learning something new. If you’re not already doing this, consider adding it to your schedule for the week. There are endless resources online to get yourself on the right track, whether it’s simple YouTube videos, borrowing a book from your local library or subscribing to an educational site like Skillshare or The Great Courses.

3. Don't Play it Too Safe

"How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case." – Robert G. Allen

While this largely applies to investing, it also applies to other areas of life. Playing anything too safe won't give you optimal results. Especially when it comes to your money, there are some tried-and-true methods to responsibly invest. Do you research when risk is involved, and you'll come to a logical balance of risk and reward.

4. Know Your Investments

"Know what you own, and know why you own it." – Peter Lynch

Unfortunately, people tend to make decisions without fully understanding why they’re making them. For example, if you have a 401(k), do you know how it works and how it will work for your future retirement?

This goes for all types of investments and purchases, from home ownership (do you know why you bought in a certain neighborhood? Why you paid the price you did? If the home is in a growing area?) to cars (What’s the resale value outlook? Are repairs expensive?).

Investments, homes, cars and other investments will always be around. Do your homework so that you make sound decisions, even when you have a financial professional or an agent guiding you along the way.

5. Financial Success Happens Slowly

"Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas." – Paul Samuelson

There are many things more rewarding than checking in on your 401(k) or other investment account and seeing how much it’s accumulated over time, but the key there is “over time.” Financial success from investing happens slowly, not overnight. Be patient and you’ll see results.

6. Find Your Niche

"Wide diversification is only required when investors do not understand what they are doing." – Warren Buffett

While this is true of investing, it’s also applicable to life. No one can be good at everything. The key to success is finding your niche in life and running with it. It’s okay to know how to do things like change a tire, but that doesn’t mean you need to be a mechanic. What skills work for you in your life? Focus on honing those.

7. Protect Your Reputation

"It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently." – Warren Buffett

Another nugget of advice from Buffett that can be applied to both investing and life in general. If you manage other people’s money, it just takes one expensive mistake to lose trust forever. It’s the same in life. Sometimes it doesn’t matter how much goodwill you’ve built up; it can be lost in a matter of minutes. A familiar example is Hollywood stars who seemed squeaky clean until their mugshot is slapped across the front page of every tabloid.

8. Improve Yourself

“Spend each day trying to be a little wiser than you were when you woke up." – Charlie Munger

Here are some wise words from Buffett’s counterpart Charlie Munger. If you want to put this into practice in your own life, at the end of each day, ask yourself what you learned that day.

It doesn’t have to be a fact from a book; it can be an observation about your work, people close to you or something about your own life. Try to take that lesson and internalize it in a constructive way.

9. The 20 Percent Rule

"If you have trouble imagining a 20 percent loss in the stock market, you shouldn't be in stocks." – John Bogle

This speaks to the concept of not overextending yourself in general, not only when it comes to the stock market. Take a look at your income and budget, if your paycheck was cut by 20 percent would you still be able to pay the bills and keep the same quality of life? If not, then you might want to find a way to cut back on 20 percent of your expenses.

10. Don't Fall into the Same Habit

“The four most dangerous words in investing: ‘this time it’s different.’” – Sir John Templeton

Ask anyone who has jumped from one bad relationship into another, these words don’t only apply to investing. Unfortunately, we can become creatures of habit, which means we may habitually choose the same kinds of jobs, friends or romantic partners despite the fact that they didn’t work out before.

It’s easy to get excited about something new and think that this time it will be different, but chances are that it won’t be. If it’s just a financial investment you took a gamble on again, then you can make that money back, but if it was an investment of time, then that’s the costly mistake.

To continue reading, please go to the original article here:

https://pocketsense.com/15-quotes-from-successful-investors-that-will-change-your-life-13708277.html

If Money Could Talk

If Money Could Talk

By Greg Habstritt 

 A Powerful Perspective You’ve Never Heard Before – "If Money Could Talk"

Most people think they know me.   They don’t.

I am not what most people think I am. I am not the paper in your wallet, or the coins that jingle in your purse. I am not quietly sitting in your bank account, hoping to be used one day.

You cannot see me, feel me or touch me. I am an idea. I am energy.

I’m neither good nor evil. I am only what you decide that I am, and I fulfill the role that you create for me.

I don’t care how smart you are, where you live, what you do, or where you come from.  All I care about is your energy.

Your energy decides what thoughts you have, and therefore your thoughts will determine the relationship you have with me.

I have very simple needs, and simple rules.  I am infinite.

I have no limits, except for those you place on me with your mind. There is no limit to the energy in the world, and because I am simply energy, I cannot be restricted or controlled.

I crave abundance.

I am attracted to those who think without restrictions, who like to think big. When you believe there is enough of me to go around, I am naturally magnetized by that thinking.

I despise scarcity.

Because there is no limit to me, I avoid those who think from a win/lose or scarcity perspective. Those who believe I am in short supply, or difficult to receive, will find that very reality, because I choose to avoid those who think small.

I love value.

What magnetizes me most is the creation of value in the universe. I move to places where value is created, because creation is energy. If you wish to attract me into your life, focus on creating value for others, and I will appear.

I avoid entitlement and complacency.

No one ‘deserves’ to have me, and I am always moving to the place I am most respected and where value is created. It has nothing to do with ‘fair’. Those who take me for granted or become complacent with my energy will find me gone.

I only have one job, and that is to serve you.

It is a matter of energy and value creation. My purpose is simply to move to where I am attracted most, and where I can grow.

My one goal is to replicate myself.

Because there is no limit to energy, my purpose is to reproduce and grow, in order to bring more energy to the universe. I am created and replicated through value creation. I am an energy of evolution.

To continue reading, please go to the original article here:

http://museologies.blogspot.com/2011/10/if-money-could-talk.html

​Owning Your Home Doesn’t Make You Rich

From Dinar Recaps Archives posted on 8/5/2019

Owning Your Home Doesn’t Make You Rich Owning Somebody Else’s Does
By Andrew Van Dam The Washington Post

In the United States more than almost anywhere else, wealth and income are concentrated among business owners and landlords. That club, blessed by capitalism, is becoming increasingly difficult to join.

Business owners and landlords tend to be about four times as wealthy as the average American. That’s more than in almost any other country included in a new study.

On the other end of the spectrum, renters in the United States tend to have about an eighth as much wealth as the average American.

In the recent working paper, Austrian central bank economists Pirmin Fessler and Martin Schürz used a long-running U.S. wealth survey and its newer European counterpart to compare wealth across continents.

It’s one of the first such comparisons to look at wealth in terms of what people use it for, rather than at arbitrary percentile cutoff points. The widest inequalities, they find, are between groups inside countries, not across country borders.

In their analysis, they split households into three groups. Homeowners, whose primary wealth is also their primary residence, form the bulk of the middle and upper-middle class. Business owners and landlords (about 15% of U.S. households), tend to be among the wealthiest.

Their wealth is typically used to generate additional income. Those who pay to rent their residences (about 35% of households), and whose wealth is typically used to cover needs such as emergency expenses or retirement, fill out the bottom of the spectrum. They’re joined by homeowners and business owners whose debt exceeds their equity.

The bottom 40% are most likely to be renters. The top 5% are most likely to own businesses or rental properties. The authors found this polarization has increased since 1962.

In every country Fessler and Schürz studied, homeowners’ wealth hovers near the national average. The biggest gaps are between those who own businesses and rental properties and their customers and tenants.

Van Dam writes for the Washington Post.

To continue reading, please go to the original article at

https://www.latimes.com/business/la-fi-landlords-business-owners-20181105-story.html

Fed's Third "Year-End" Repo Oversubscribed Again Amid Liquidity Scramble As Dec 16 Tax Day Looms

Fed's Third "Year-End" Repo Oversubscribed Again Amid Liquidity Scramble As Dec 16 Tax Day Looms

by Tyler Durden   Mon, 12/09/2019

One week after the Fed's second 42-day term repo which allowed dealers to lock in funding into the new year and which was again oversubscribed, confirming a growing scramble for year-end funding, traders were looking ahead to the result from today's third "year-end" repo, this time with a 28-day term maturing on January 6. And, as we noted last week, year-end liquidity fears remain front and center as the $25 billion - which the Fed expanded from $15 billion late last week - proved to again be roughly 40% below the required size to satisfy all liquidity demands.

Dealers submitted $43 BN in bids for the 28-day op ($29.80 BN in Treasurys, $0.1BN in Agency, $13.1BN in MBS paper), resulting in an oversubscription of the $25BN in available repo, and confirming that the Fed may have to add additional "year-end" repos to satisfy all dealer liquidity demand as we enter 2020.

This was modestly above the $42.550 billion submitted last week in the second 42-day repo operation conducted on December 2

At the same time, the Fed also announced that in the latest overnight repo, it had accepted $56.4 billion in securities, a modest drop from the recent range and the lowest roll amount since the Fed expanded the available size of overnight repos to $100 billion. A big reason for this is likely that $25 billion was shifted over from overnight to 28-day term repos.  

The biggest concern: the repo rate over year end remains stubbornly stuck well above 3%, more than double the Fed Fund rate, and clear evidence that the US interbank plumbing remains broken.

It remains a pressing question for funding markets why, even with QE4 in place and now daily overnight and short-term repo operations in place, banks continue to rush to lock in year-end liquidity, where some fear a similar explosion in overnight repo rates as was observed on Dec 31, 2018 when General Collateral soared amid a widespread liquidity shortage.

Indeed, even with the Fed’s commitment to continue providing liquidity to the financial system around year-end, the market is still showing concerns, indicating that for all its telegraphed firepower, the Fed has failed to calm markets and ease counterparty risks which as the BIS observed yesterday, now involve hedge funds.

As a reminder, since the Sept 16 repo blow up, the Fed has injected $208 billion via "temporary" rolling overnight and term repos, and $114 billion via permanent T-Bill purchases.

To continue reading, please go to the original article here:

https://www.zerohedge.com/markets/feds-third-year-end-repo-oversubscribed-again-amid-liquiduity-scramble-dec-16-tax-day-looms