Ancient Rivers of Money

November 5, 2010 By Venkatesh Rao

This entry is part 1 of 14 in the series Psychohistory

Sometimes a single phrase will pop into my head and illuminate a murky idea for me. This happened a few days ago. The phrase was “ancient rivers of money” and suddenly it helped me understand the idea of inertia as it applies to business in a deeper way. Inertia in business comes from predictable cash flows. That’s not a particularly original thought, but you get to new insights once you start thinking about the age of a cash flow.  We think of cash-flow as a very present-moment kind of idea. It is money going in and out right now. But actually, major cash flow patterns are the oldest part of any business.

Inflation 2023: How To Prepare Before It’s Too Late

Casey Bond   Monday, December 26, 2022

Inflation has been one of the most pressing money issues plaguing the globe this year. In the U.S., inflation was 7.7% for the 12 months ended October 2022. It’s put a major strain on household finances, and Americans are wondering if relief is in sight.

“Generally speaking, the health of the U.S. economy is strong, but is undergoing a transition from pandemic conditions to post-pandemic conditions,” said Keith Sultemeier, president and CEO at Kinecta Federal Credit Union.

You Don’t Need Advice From An Economist

Posted by TEBI on December 14, 2022

A common misapprehension about investing and personal finance is that, to be really successful at it, you need to be an armchair economist. At the very least, people assume, it pays to know what leading economists are saying about the global economy and the financial markets. In fact it doesn’t. Even a PhD in economic theory is unlikely to help you very much. Why? Because the best financial advice has nothing to do with economics. More than anything it’s about psychology.

There are hundreds of books giving financial advice. Some of them, like Robert Kiyosaki’s Rich Dad, Poor Dad have been incredible best sellers.  According to Publishers Weekly, Kiyosaki’s book has sold more than 44 million copies.

How Do You Know If You’re Frugal Or Just Ridiculous?

The Frugal Girl  November 9, 2022

A reader question:  How do you know if you’re frugal or just ridiculous?  There seems to be a thin line. For example, is it frugal or ridiculous to postpone shopping for new undergarments for a year because new undergarments are not necessary for survival?

In the years that I have been reading content about frugality, I have noticed that this is a common theme/question/issue.   How frugal is TOO frugal?  What’s sensible, and what’s just cheap?

Where’s the line between frugality and deprivation?

Where Do Billionaires Keep Their Money?

Andrew Dehan   Sunday, December 25, 2022

Billionaires have been able to not only acquire wealth but most have gradually built it over time. This means that many have had successful investments, which makes it natural for everyone else to wonder where they are investing or keeping their money in order to see that growth. We’ve compiled a list of some of the most common investments that billionaires make when looking for sustained growth of their money over time.

Keep in mind, though, that billionaires don’t typically manage their own money and instead choose to work with a financial advisor to help with their asset allocation.

7 Wealth Building Tips Learned From Football

By Billy B  Mind, Money

I fell in love with NFL football 15 years ago, and it has inspired me in many ways on how to build wealth.  Once I understood the mentality, strategy, and toughness it takes to win games on Sundays, I was hooked.  A football game is much more than mindless buffalo-sized men running into each other.  It is a beautiful chess match with human beings that move like coordinated pieces. Building wealth, like football, is a thinking person’s game.  Here are seven secret wealth building tips I have found hidden inside the game of football: 

Top Wealth Management Firms

By Mark Kolakowski  Updated on September 2, 2022

When you're in the process of selecting the best wealth management firm to work for, some factors to narrow the field is to focus on the top firms in to look at profitability, wealth manager head count and outlook for the wealth management business shared by the management.

What Is a Wealth Management Firm?

What Does Financially Independent Mean?

Financial Independence Explained

By Miriam Caldwell  Updated on July 1, 2022

For most people, it is hard to reach financial independence without a job that allows them to be self-sufficient. But it's taking young people longer to reach this milestone than it did in the past. Forty years ago, most people were able to get a job that made them financially independent in their 20s. Today, according to a study from the Georgetown University Center on Education and the Workforce (CEW), it takes most young adults until their 30th birthday to get a job that allows them to support themselves fully.1

What Is Wealth Management?

Definition & Examples of Wealth Management

By Tim Lemke  Updated on June 8, 2022

Wealth management is a kind of financial advisory service for accredited investors and others with high net worth. Wealth managers provide advice about investing, estate planning, taxes, and anything else that can help grow a client's wealth.  Understanding how wealth management works and how it compares to asset management can improve your financial picture.

What Is Wealth?

By Amanda Page  Updated on December 30, 2021

Wealth is an individual’s or household’s net worth, which consists of assets such as money in savings and investment accounts minus debts like loans and mortgages.

Definition and Examples of Wealth

Wealth is often regarded as household net worth, which is the total value of assets minus any debt (“liabilities”). Therefore, if an individual or household owns an asset, then they have the potential for wealth, depending on the size of their debt, and their own perception of how much money it takes to be “wealthy.”