.How To Avoid High-Income Lifestyle Creep
.How To Avoid High-Income Lifestyle Creep
By Poor Swiss
My personal goal is to become financially free as soon as possible. As a software engineer in Switzerland, I am earning about $130,000 per year, and, lifestyle creep is one of the toughest parts of my life.
With my salary, I am viewed as a high-income earner. And, people think that earning a high-income makes it easier to become financially free.
And in many ways, it does.
But, most high-income earners are not financially free and a lot of them are not even wealthy.
Acquirers' and Inheritors' Dilemma
.Acquirers' and Inheritors' Dilemma
Dennis T. Jaffe and James A. Grubman
Discovering Life Purpose and Building Personal Identity in the Presence of Wealth
People come to wealth in essentially two ways: they acquire it during their lifetime through effort or circumstance, or they inherit it from someone else's reserve.
The way in which a person becomes wealthy is an important determinant of how wealth affects his or her personality, profoundly influencing one's personal identity and sense of self.
Armed with a better understanding of the stresses and adjustments of wealthy clients, financial advisors can tailor the relationship with accuracy, empathy, and sensitivity.
Brain Meets Money
.Brain Meets Money
Richard Quinn February 20, 2020
HOW OFTEN DO you think about money? Hey, you just did. Seriously, we think about money every day and sometimes every hour. Some studies say we ponder financial matters even more often than the old standby: sex.
We’ve been thinking about the stuff for a long time. Money goes back about 3,000 years. Paper currency can be traced to China in 700 BC. They didn’t fool around: Their currency stated that all counterfeiters would be decapitated. I’m guessing counterfeiting was rare.
Today, it costs two cents to manufacture a penny and almost eight cents to make a nickel. Result? Each year, we taxpayers lose about $85.4 million on the production of pennies and $33.5 million on nickels.
Where Do I Store My Wealth?
.Where Do I Store My Wealth?
From Crisis To Confiscation—
By Jeff Thomas International Man
International diversification of wealth (no matter how large or small) can save your economic freedom.
Although most of our readers thoroughly understand this concept, one of the most oft-heard concerns is that, by offshoring assets, one may not be able to get to them as easily as they now can. Here’s the response to that, and some practical advice on what you can do to protect yourself.
Let’s say you presently regard yourself as being economically diversified. You own stocks and bonds, you have some cash, you have a retirement fund and you have a bit of gold stuffed away at home. On the surface, it would seem that you’re covered.
Trouble is, you have all your wealth in one jurisdiction, and should that jurisdiction find itself in an economic crisis, all that “diversification” will be seriously at risk.
Real Money Versus Cryptos and Currencies
.Real Money Versus Cryptos and Currencies
The Final Wakeup Call By Peter B Meyer
When the money goes bad, everything goes. The Rothschild Central Bank sent the US-dollar and affiliated paper currencies on their way down in 1971. It was then that they took the dollar off the golden handcuffs. Enabling the dollar to picking everyone’s pockets, added with coercion of cruel sanctions on every country the Deep State didn’t like. Compared to the pre-1971 dollar, it has lost 98% of its value.
The Fed showered over the last few weeks the financial trading houses – primary dealers – on Wall Street with a total of $2.93 Trillion in short-term loans.
The money is for a Wall Street liquidity crisis that has yet to be explained in credible terms to the public, but as of yet the New York Times does not appear to have an investigative reporter assigned to investigate what’s really going on. Just 11-years after those same trading houses blew themselves up in the biggest financial crash since the Great Depression that took the U.S. and the world economy along for the ride.
This repo – repurchase agreement- loan program began on September 17, 2019 when repo loan rates spiked from approximately 2 percent to 10 percent – meaning either liquid funds were not available to loan, or the mega banks on Wall Street were backing away from lending to certain counterparties.
The US Fertility Rate Hit Another Record Low
.The US Fertility Rate Hit Another Record Low
Notes From The Field By Simon Black
February 17, 2020 Bahia Beach, Puerto Rico
Last month the US government’s National Vital Statistics System released data showing that the birth rate in the Land of the Free has dropped to -yet another- ALL TIME LOW.
It’s the FOURTH year in a row that the fertility rate has reached a record low in the US, meaning that the issue just keeps getting worse.
And it’s one that has enormous, long-term economic consequences.
9 Millionaire Success Habits That Will Inspire Your Life
9 Millionaire Success Habits That Will Inspire Your Life
Leon Ho Founder & CEO of Lifehack
As technology evolves and information becomes more accessible, it has also become more challenging to define success. A lot of people are trapped in the rat race while trying to discover the actual formula for success.
You could become overwhelmed with what tools, techniques or philosophies to imbibe while trying to get tips over the internet. At every click and turn, there are ‘how-tos and quick-fix’ on how to become successful overnight. You will find several courses, articles, videos and books on how to achieve financial success.
But what if I tell you it doesn’t have to be complicated as people made it out to be? What if you could achieve success by merely following these 9 millionaire success habits?
The Global War on Cash
.The Global War on Cash
By Jeff Desjardins
Presented by: Texas Precious Metals
The Global War on Cash
The Money Project is an ongoing collaboration between Visual Capitalist and Texas Precious Metals that seeks to use intuitive visualizations to explore the origins, nature, and use of money.
There is a global push by lawmakers to eliminate the use of physical cash around the world. This movement is often referred to as “The War on Cash”, and there are three major players involved:
1. The Initiators
Who? Governments, central banks.
Why? The elimination of cash will make it easier to track all types of transactions – including those made by criminals.
Got Gold?
Got Gold?
Sanjib Saha February 7, 2020
YEARS AGO, I spent a few days in Bangkok touring the city. A highlight of my short stopover was the temple of Wat Traimit, which houses a five-and-a-half metric ton Golden Buddha, made of approximately $250 million of gold.
Cast more than 700 years ago, the statue symbolized the prosperity and cultural heritage of Sukhothai, the first Thai kingdom. Sometime in the 18th century, the statue was completely plastered over to conceal its value from Burmese invaders.
The significance of the statue was forgotten for some 200 years, until the plaster accidentally chipped off to reveal the gold underneath. The miraculous 1955 discovery made headlines and the statue was restored to its former glory. I was mesmerized by its brilliance and beauty.
ABCs of Wealth
.ABCs of Wealth: Guest Post
By Vicki Robin
The multiple forms of capital have become a foundational concept in my thinking about the pursuit of financial independence and living a truly rich and resilient life. That’s why I was overjoyed when Vicki Robin, prolific social innovator, writer, speaker, and coauthor with Joe Dominguez of the life-changing book Your Money or Your Life, offered to pen a guest post demonstrating the overlap of what she has come to think of as Natural Wealth with these multiple forms of capital.
It seems like the perfect way to release the free worksheets (which you’ll find at the end of this post) I created so you can take inventory of all of the Natural Wealth and other forms of capital in your own life.
In the 2018 update of Your Money or Your Life, after years of observing how real people creatively use the tools to have a “high joy to stuff ratio” life, I challenged the whole idea of “financial independence (FI).” Money is a small part of our wealth portfolio.
The Wealth Gap: How Changing Fortunes Tear Close Friends Apart
.The Wealth Gap: How Changing Fortunes Tear Close Friends Apart
Sirin Kale
It’s not uncommon for friendships to end because of finances – whether a sudden salary rise or fall. But with care and forethought it is often possible to prevent the rupture
When David Matcham and his wife adopted a baby boy in 2013, their financial situation promptly hit rock bottom. Matcham, 44, from Norfolk, had just completed a PhD, and was looking for work. They were broke; poorer than either of them had been at any point in their lives, even when they were students.
For more than a year, Matcham became a social recluse. In part, this was out of necessity – he had no money for socialising – but it was more than that. His sense of self-worth was in the red. “I felt as if I didn’t matter any more, I had made such a mess of things,” he remembers.