.The Key To Successful Investing Is Patience
.The Key To Successful Investing Is Patience.
Tanza Loudenback
The CEO of a $13 billion investment firm says there's one lesson everyone has to master to build wealth: patienceThe Key To Successful Investing Is Patience
Compound interest is the most important concept to understand about money, Mellody Hobson said.
Mellody Hobson, a co-CEO of Ariel Investments, told the New York Times that the key to successful investing is patience.
Patience leads to compound interest, which is the most important concept to understand about money, Hobson said.
How Safe Is It to Transfer Money Overseas Online?
.How Safe Is It to Transfer Money Overseas Online?
Protect Your Money / By Michael Dinich
In today’s digital world, international money transfers can be done online. Whether it’s for purchasing property, remittances, or return of funds, sending money abroad has become a common thing. However, it’s essential to determine which money transfer options work best for your financial needs.
One of the vital facets that should be taken into account in the process is security. With the increasing number of scammers online, you need to keep your funds secure while getting the best deal.
Here’s what you need to know regarding international money transfers and how safe it is to make one online:
Three Financial Lessons From Squirrels
.Three Financial Lessons From Squirrels
Protect Your Money / By David Somerville
Over the years, I have been studying wildlife in the woods behind my house.
My favorite critters are the squirrels that scamper and dash among the trees, and I spent a lot of time learning about their habits.
One of the aspects of squirrels that fascinates me is how they make it through winter. The survival tactics of squirrels have evolved over millennia in the ultimate testing ground of Mother Nature.
Winter survival is the wildlife equivalent of financial planning for people. Squirrels have to allocate resources, deal with risk/reward scenarios, and execute a plan consistently.
Let’s take a look at how squirrels do “financial planning” and see how we can apply that to our lives.
To Will or Not To Will?
.To Will or Not To Will?
By Muhammad Ali
Generally, when I ask my Dinarians what's the first thing you want to do after RV? Settling my debts seem to be the top answer, of course after giving thanks to the Almighty.
I had the occasional, take a long overdue holiday and get into some banking investments, but I've never had anyone tell me, I need to update my Will or get my Will done first.
It seems to me that the focus on Wills is secondary to many other things.
A few months back I met with a legal consultant on Wills, he’s been doing Will preparations here in Malaysia for the past 16 years, and he opened my eyes to a lot of very important things.
The Invention of Money
.The Invention of Money
By John Lanchester July 29, 2019
When the system buckles, how do we know what money is really worth?
In three centuries, the heresies of two bankers became the basis of our modern economy.
When the Venetian merchant Marco Polo got to China, in the latter part of the thirteenth century, he saw many wonders—gunpowder and coal and eyeglasses and porcelain.
One of the things that astonished him most, however, was a new invention, implemented by Kublai Khan, a grandson of the great conqueror Genghis. It was paper money, introduced by Kublai in 1260. Polo could hardly believe his eyes when he saw what the Khan was doing:
He makes his money after this fashion. He makes them take of the bark of a certain tree, in fact of the mulberry tree, the leaves of which are the food of the silkworms, these trees being so numerous that whole districts are full of them.
What they take is a certain fine white bast or skin which lies between the wood of the tree and the thick outer bark, and this they make into something resembling sheets of paper, but black. When these sheets have been prepared they are cut up into pieces of different sizes.
All these pieces of paper are issued with as much solemnity and authority as if they were of pure gold or silver; and on every piece a variety of officials, whose duty it is, have to write their names, and to put their seals.
And when all is prepared duly, the chief officer deputed by the Khan smears the seal entrusted to him with vermilion, and impresses it on the paper, so that the form of the seal remains imprinted upon it in red; the money is then authentic. Anyone forging it would be punished with death.
That last point was deeply relevant. The problem with many new forms of money is that people are reluctant to adopt them. Genghis Khan’s grandson didn’t have that difficulty.
The Benefits of Economic Collapse
.The Benefits of Economic Collapse
By Jeff Thomas
I first began to predict a major economic collapse back in 1999. Although I understood that it was at least fifteen years off and possibly more, I believed that it would be wise to begin to prepare for it then, as the actual date of collapse could not be predicted. (Better to be a few years early than even one day too late.)
Not surprisingly, back then, this prediction appeared to most people to not only be unlikely, but laughable.
Today, we’re a good bit closer to the onset of an economic crisis and it now not only seems possible, but quite likely to an increasing number of those people who are paying attention.
And not surprisingly, as so many people are now realising the inevitability of such a crisis, they’re also realising that they should have been preparing for it. Preparation for a major event such as this requires a fair bit of time and many people are belatedly coming to realise that they may be caught with their pants down when the initial crashes begin.
.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.