.Three Secrets of Self-Made Billionaire Investors

Investing Outlook By Dan Ferris

Warren Buffett was born in 1930 and became a child of the Great Depression. Today he’s worth in excess of $75 billion.

George Soros was born the same year, and became a child of the Great Depression, the Holocaust and WWII. According to Forbes, he’s worth nearly $10 billion.

Carl Icahn was born in 1936. He was once so broke he had to sell his car to feed himself. Forbes says he’s worth around $20 billion today. All started with nothing. All wound up billionaires. All did it by investing.

At first glance, they don’t seem to have much in common… Buffett buys stocks and whole companies and says his favorite holding period for investments is “forever.” Soros became a billionaire by making huge leveraged trades in stocks and currencies. Icahn buys controlling stakes in public companies and badgers management to sell assets, buy back shares and do anything to realize hidden value.

.Dave Ramsey Says These Are 10 Reasons You're Not Getting Ahead

Sarah Cunnane Sat, January 9, 2021

Talk-radio host Dave Ramsey says you can solve your money troubles just as soon as you stop causing them.

The money management guru has been doling out his signature blend of tough-love financial advice and Biblical wisdom since 1992. He learned it all the hard way: In his 20s, Ramsey built a million-dollar fortune flipping houses but lost it all when banks started calling in his debts. He had to buckle down to build back up from bankruptcy.

Now his radio show is syndicated on more than 600 stations, and he’s the author of several books. He teaches Americans how to save more money and avoid wallowing in debt — even during the current financial crisis. Dave Ramsey says these are 10 reasons you're not getting ahead

Talk-radio host Dave Ramsey says you can solve your money troubles just as soon as you stop causing them.

.Money Lies and Financial Dishonesty

October 1, 2019 by One Frugal Girl

“The slickest way in the world to lie is to tell the right amount of truth at the right time-and then shut up.”― Robert A. Heinlein

Detecting Lies and Half-Truths

I have a knack for evaluating a person’s character quickly and accurately. A friend of mine calls it a unique sixth-sense; an uncommon ability to recognize the truthfulness and sincerity in a stranger’s words. I can read body language like a psychic reads tea leaves or a palm reader examines the lines in your hand. I recognize the subtle physical clues others can’t see or choose to ignore. The truth often reveals itself through unusual hand gestures, facial expressions, vocal changes and eye movement. In person it’s easy for me to spot the discrepancies between baseline behavior, (what’s normal in non-threatening conditions), and the atypical body language of someone who is acting dishonestly.

This works great when I meet someone face-to-face, but unfortunately it has no relevance in today’s digital world. These days we are masked by the Internet. We are hidden behind computer screens where facial expressions and body language are no longer visible to those with whom we communicate. We coexist in a binary, data-driven society that provides zero clues about our honesty. It enables us to invent things like ‘fake news’.

.21 Things You Need to Try in 2021

Anti-New Year’s Resolution: 21 Things You Need to Try in 2021

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2021 is right around the corner, and you know what that means… New Year's Resolutions!

For many of us, we cannot wait for it to be 2020 and to kiss 2021 goodbye for good! But, if you happen to be like most adults who aim to use the turning of a new year as an unofficial restart button, you've most likely started creating a list… A list that has already begun to fill a half sheet of paper with all the normal boring New Year's Resolution stuff such as:

Lose weight, Eat healthy (whatever that means), Workout more, Pay off your debt, Be nicer to your spouse, Save more money, Stop eating out, and etc., etc. And you are probably telling yourself this is the year that will be the year.

.Money Is the Megaphone of Identity

By Lawrence Yeo

There was an extended period of time in my twenties when I didn’t have a job. For most of us, that’s not a big deal. We have our whole lives ahead of us to work, so taking a few months off to “find yourself” can be completely justifiable. Well, let’s just say that wasn’t the case for me.

I spent sleepless nights scouring job postings for any company that might be interested in what little I had to offer. I smacked that “Upload Resume” button around like it was my arch nemesis, but made sure to carefully upload the proper file format before doing so. My days consisted of nothing but napping, eating, uploading, and submitting. To put it mildly, I was in a state of panic to find some sort of work. Some might have viewed this obsessive job search as an impressive character trait. It may have masqueraded as a signal of ambition, an indicator that I was a guy that had his priorities straight.

.The Micro and Macro Building Blocks of Wealth

By Billy B | Money

I had an epiphany this week: Our financial present and futures are created from all of the micro-and-macro financial decisions in our pasts. From a personal perspective, as I look back on my life, it wasn’t one lucky break or genius skill that sent us skyrocketing toward being rich. It was a routine set of every-day decisions, mindset, and attitude, on a micro and macro level, that led us be become relatively wealthy ($266K net worth), in a relatively short amount of time (6 years.)

As I realized this, my mind was thrust into a time-traveling speed warp. My entire life appeared in a collage of memories. These visions contained all of the micro and macro decisions I’ve made throughout my lifetime. These memories were the primordial substance that grew into the present and future I am living now. As I stared into the collage of old memories, I saw our wealth is just a collection of micro and macro financial decisions that put us on the right path. Below is a list of the best micro-and-macro decisions that helped us succeed with our money:

.Money Lessons From a Truly Terrible Year

By Charlotte Cowles

What are we supposed to learn from this hellish year financially? It beats me, to be honest. To suggest that there are money lessons from 2020 implies that its events were logical or within our control, disasters we could have budgeted for. Personally, I want to throttle anyone who says the pandemic should teach people to save more in case of emergencies. Of course, it’s always helpful to have savings! But that’s maddening advice for the millions of people who didn’t and won’t be able to for a long time — and for the plenty of people who did and still ran out of money anyway.

One thing is for sure: This past year changed everyone’s outlook on their finances and their security in general. And that must have taught us something. To get a better sense of what we may glean from it, I spoke to several financial experts about what they learned in 2020 — for better or worse — and what they hope to carry forward in the future. Here’s the advice they gave.

.Left Penniless

Isaac Cathey Humble Dollar December 31, 2020

AS A PARENT, it’s my responsibility to teach my children good financial habits. Core among these are deferring gratification, saving diligently, giving generously and making sensible spending choices. I feel it’s also important to make my children aware of financial pitfalls. Succeeding financially—and in life generally—seems to be as much about avoiding self-destructive habits as it is about cultivating good ones. My wife and I have been homeschooling our children for the last couple of years. Our attempt at home education has been a smashing success, thanks almost entirely to my wife. While she handles the bulk of the teaching, I do occasionally step in to teach certain concepts. Recently, I was tasked with helping my five-year-old daughter understand probability.

Seeing an opportunity to turn a dry academic exercise into a valuable life lesson, I designed a game for the two of us to play. In the game, I offered my daughter the opportunity to take money from her piggybank and quickly turn it into more money. To play the game, we needed 50 cents in pennies and a die (or dice for those who aren’t sticklers for proper English usage).

.Top 12 Financial New Year’s Resolutions for 2021

By Physicians On FIRE

Happy New Year! Yes, 2020 is over. The no good very bad year that was 2020 is no longer. Thank goodness.

Have you made your New Year’s Resolutions for 2021 yet? Mine include a dry January, avoiding COVID between now and when it’s my turn for the vaccine, and beginning to slow travel once again. I’d like to give you some achievable financial New Year’s Resolutions to ring in the New Year. Each of these dozen items will help you improve your financial situation, and most of them are something you can accomplish, check off the list, and move on to the next one.

.Start Where You Are

by J.D. ROTH 1 January 2021 – Get Rich Slowly

How to Start Where You Are

Start where you are quote by Arthur Ashe Clearly, this is easier said than done. It's one thing for me to sit at my desk and type out pithy advice; it's another to actually deal with the situation day-to-day in real life. But here's the thing: In order to get where I am, I had to start where I was. In order for other Get Rich Slowly readers to get where they are today, they had to start where they were.

When I say “start where you are”, I mean that you should accept that who you are and what you have today is, essentially, your starting hand. Don't beat yourself up for past mistakes. Don't blame others for getting you into this situation. These are the cards you've been dealt (even if you've dealt them to yourself), and it's now up to you to play them as best you can.

How do you do this?