7 Things Wealthy People Do With Their Money

7 Things Wealthy People Do With Their Money (That You Should Also Be Doing)

Jennifer Taylor  Sun, March 2, 2025  GOBankingRates

Wealthy people have a track record of making some pretty serious money moves. When you have that much wealth, a whole world of opportunities opens up for you. For the rest of us, these strategies can feel completely out of reach.

It’s true to an extent, but even the wealthy elite are following some core principles any of us can adopt. If you’re interested in growing your net worth, consider taking a page from their book. These are some tried and true things the super-rich do with their money that any of us can do.

They Live Within Their Means

Many people live a lifestyle that creates the illusion of wealth, without actually having the cash to back it up. But people who are truly wealthy know not to spend money they don’t have.

In fact, it’s common for people with serious wealth to live below their means. They often live in modest homes, drive practical cars and adhere to a strict budget. Their net worth might surprise many people, but this is exactly how they were able to build it.

Of course, this isn’t true across the board. Plenty of wealthy people do live lavishly, but we can all take some inspiration from those rich people known for living like average Joes.

They Secure Future Income

Wealthy people are almost always looking toward the future. Instant gratification usually comes at the expense of long-term stability, and they know this all too well.

That’s why the rich often focus on securing future income, and one good way to do this is with an annuity. Annuities are contracts between you and an insurance company that allow you to earn interest on a lump-sum investment.

Generally speaking, payouts can be offered for life or span a specific time period. This investment option is growing in popularity, and many issuers are currently offering high rates.

They Put Their Money To Work

TO READ MORE:  https://www.yahoo.com/finance/news/7-things-wealthy-elite-money-162850984.html

“Tidbits From TNT” Tuesday Morning 3-4-2025

TNT:

Tishwash:  MP: Washington directly supervises the financial system in Iraq

Representative Mukhtar al-Moussawi confirmed today, Monday, that the United States directly supervises the financial system in Iraq, and is aware of the entire movement of money.
Al-Moussawi explained to Al-Maalouma that "the United States directly supervises the financial system in Iraq, and is fully aware of the movement of funds and exiting the country, which gives it broad economic influence that affects the financial decisions of the Iraqi government.

Regarding the security official, Al-Moussawi said that "Iraq has recovered in terms of security and has become able to protect its lands from terrorist attacks, thanks to the development of the capabilities of the armed forces and the Popular Mobilization Forces," ruling out "the possibility that Washington will use the ISIS terrorist organization card again, given the expected failure of such attempts in the face of the high security readiness enjoyed by the Iraqi military apparatuses.

" Al-Moussawi criticized "some parties that promote the possibility of the return of the threat of the terrorist organization, and an attempt to repeat the 2014 scenario," stressing that "the security forces and the Popular Mobilization Forces are ready to thwart any terrorist activity that may target the country."

According to observers, the United States is playing its suspicious role in Iraq, whether through economic intervention or waving the security card, which calls for a firm national position to end its guardianship and restore full autonomy   link

Tishwash:  Investment opportunities are expanding.. FAO is preparing to transform into the largest industrial city in the Middle East

The Ministry of Industry and Minerals revealed plans on Monday to establish giant industrial projects in the city of Al-Faw, which will make it one of the largest industrial cities in the Middle East, as part of the Strategic Development Road project.  

The Deputy Chairman of the Industrial Cities Authority at the Ministry, Riyadh Jassim Kazim, said in a statement to the official newspaper that "the technical designs for the project will be completed soon, as work is proceeding according to well-studied plans, with the completion of the initial designs and the addition of some modifications to ensure the project is implemented in the best possible way."  

He explained that "the development road will transform Iraq into a pivotal commercial center linking the East and the West through advanced industrial cities extending from Al-Faw to the Turkish border," noting that Al-Faw city will include giant industrial projects including petrochemical plants, power stations, water desalination and liquefied gas facilities, in addition to residential and tourism projects, which will contribute to stimulating trade exchange and creating more than one million job opportunities.  

Kazem also stressed that the project will contribute to reducing the time it takes to transport goods from China to Europe to less than 22 days, which will enhance Iraq's position as a global logistics center.  

He pointed out that the preparation of the project's designs faced some obstacles, such as conflicts on the road's path with agricultural and economic projects, but coordination was made with local governments and those conflicts were removed, which allowed the preparation of the final technical designs for the project.  

He concluded by saying that "the development road will be a fundamental pillar in diversifying the Iraqi economy and reducing dependence on oil, so that Iraq becomes a pivotal part of the international trade map, benefiting from its modern infrastructure and its ability to connect continents." link

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Tishwash:  Sanctions and mistrust.. How will the Iraqi digital currency be born?

Why don't we develop our systems?

Financial and banking expert Mustafa Hantoush confirmed that talking about launching an Iraqi electronic currency at the present time is premature, in light of a banking system that suffers from structural problems and weak infrastructure.

He explained to “Jarida Platform” that “the culture of electronic payment in Iraq is still immature, and unless the government intervenes and imposes the adoption of electronic payment in government departments, we will not witness any real development in this field.”

Hantoush added that “Iraq does not have an integrated internal transfer system and relies on international systems such as Visa and MasterCard, which makes it a priority to develop the national switchboard, enhance the electronic payment infrastructure, and spread the culture of digital payment among citizens.” He pointed out that “electronic payment, in essence, depends on the presence of funds deposited in banks and their electronic transfer instead of direct cash exchange, which requires a strong infrastructure and broad confidence in the banking system.”

Hantoush stressed that “even major countries such as the United States, Europe and China have not yet been able to develop integrated electronic currencies due to fears of electronic breaches and weak cybersecurity systems,” wondering about the extent to which Iraq, with its current banking system, can achieve this.

He added, "Talk about an Iraqi electronic currency does not match the reality of Iraqi banks, which suffer from sanctions, the absence of their real role in the market, and the presence of a large percentage of money circulating outside the banking system, in addition to the lack of trust in banking institutions."

He concluded by saying, “The Central Bank still relies on old evaluation mechanisms, and the Islamic banking system has not witnessed real development in Iraq, which makes the priority now to build an integrated banking system, enhance confidence in it, and develop its electronic infrastructure before thinking about launching an electronic currency.” link

Mot:  . Maybeeeee -- This Week!!! – siigghhhhhhh 

Mot:  Earl has a “Big Mouth” 

MilitiaMan & Crew-Iraq Dinar News-Major Transactions-USD Control-Crypto WDC on 7th-Gold-Oil-IMF-Digital Currency

MilitiaMan & Crew-Iraq Dinar News-Major Transactions-USD Control-Crypto WDC on 7th-Gold-Oil-IMF-Digital Currency

3-3-2025

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=pr9THIca0Vw

Seeds of Wisdom RV and Economic Updates Monday Evening 3-03-25

Good Evening Dinar Recaps,

BRICS: BRAZIL REITERATES NEED TO END US DOLLAR, WILL 150% TARIFFS FOLLOW?

The ongoing tension between the global south and west has been a key matter of geopolitical uncertainty. That may only take a step forward as the BRICS 2025 president, Brazil, has reiterated its need to end the US dollar as 150% tariffs loom large over the nation.

Speaking on the alliance’s operations, Brazil president Luiz Inacio Lula Da Silva noted that the group will not cease its de-dollarization approach. However, that may come with steep consequences. Indeed, US President Donald Trump has warned that there will be import taxes levied on nations that he views are seeking to “destroy” the greenback.

Brazil Re-Commited to Ditching the US Dollar: Will It Face Trump’s 150% Tariffs?

The BRICS economic alliance operates on a rotating chairmanship model. This means that the alliance will be under the guidance of a shifting presidency, with one nation taking the mantle at the start of the year. In 2025, it is Brazil that is taking that position, and it is already standing firm on what it expects of the bloc.

Amid the growing tension between BRICS and the United States, Brazil has reiterated its need to end the US dollar dominance despite 150% tariffs being threatened on such countries. 

Earlier this year, the bloc rejected a BRICS currency plan. However, that hasn’t forced it to change its tone on the group’s relationship with the greenback.

“US President Donald Trump’s threats of tariffs won’t stop the group’s determination to seek alternative platforms for payments between member countries,” Brazil’s President said. Now, whether or not they face those promised Trump tariffs will depend on how the US President views the action.

Last week, Trump said, “‘Any BRICS state that even mentions the destruction of the dollar will be charged a 150% tariff.” The bloc has yet to claim to be seeking the greenback’s destruction. Therefore, will the pursuit of alternative payment methods trigger the tariff?

Moreover, is Brazil’s position opposing a BRICS currency freeing it from those threats? It certainly became the main focus of the geopolitical sector over the next several months

@ Newshounds News™

Source:  Watcher Guru

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SEC DROPS LAWSUIT AGAINST KRAKEN, ENDING ‘POLITICALLY MOTIVATED CAMPAIGN’SEC DROPS LAWSUIT AGAINST KRAKEN, ENDING ‘POLITICALLY MOTIVATED CAMPAIGN’

The dropped lawsuit follows dismissals of other SEC lawsuits and investigations against other cryptocurrency companies like Coinbase and Gemini.

The US Securities and Exchange Commission has agreed to drop its lawsuit against Kraken, the cryptocurrency exchange revealed on March 3. The move ends what the exchange calls a “wasteful, politically motivated campaign” and “clears the path toward a stable, forward-thinking regulatory regime.”

According to Kraken, the lawsuit is being dismissed with prejudice, with no admission of wrongdoing, no penalties paid, and no changes to Kraken’s business. The SEC sued Kraken in November 2023, alleging that the exchange acted as a broker, dealer, exchange and clearing agency without registering with the SEC.

The SEC, under Gary Gensler’s leadership, was prone to a policy of regulation by enforcement, suing or investigating crypto companies, such as Coinbase, Uniswap and non-fungible marketplace OpenSea, for a variety of reasons. This approach was widely criticized in the industry for stifling innovation, targeting legitimate crypto companies instead of going after bad actors and more.

The SEC’s latest actions may reflect the changing environment of the US government regarding crypto. Kraken writes about its case, “This case was never about protecting investors — it and other enforcement actions clouded instead of clarified. It undermined a nascent industry that repeatedly urged clear rules of the road.”

A shifting regulatory climate

Since the change in SEC leadership, the agency has dismissed or is rumored to drop various lawsuits and investigations that began during Gensler’s tenure. On Feb. 27, it dismissed its lawsuit against Coinbase. Previously, it had dropped lawsuits or investigations against Consensys, Uniswap, OpenSea, Gemini and Robinhood.

The moves come as the US is shaping up for increased regulatory clarity surrounding digital assets. On Feb. 7, US lawmakers introduced a stablecoin bill to boost dollar dominance. It is possible that lawmakers may introduce a general crypto regulation bill that is a stronger version of FIT21.

In addition, there are further tailwinds: US President Donald Trump, who has said he wants to make the US the “world capital of crypto,” has announced plans for a crypto strategic reserve consisting of BTC, ETH, XRP, SOL and ADA. The president will be hosting the first White House Crypto Summit on March 7.

@ Newshounds News™

Source:  CoinTelegraph

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HESTER PEIRCE ANNOUNCES SEC’S NEW CRYPTO TASK FORCE AMID POLICY SHIFT

The U.S. Securities and Exchange Commission has officially released the list of members for its Crypto Task Force, which brings together advisors from key divisions.

This follows a memo published by Commissioner Hester Peirce on March 3 on the official SEC website. According to the memo, the task force consists of staff from Acting Chairman Mark Uyeda’s office, along with representatives from multiple divisions within the agency.

Peirce highlighted the team’s experience and commitment to addressing complex crypto regulatory challenges, stating that the Crypto Task Force is composed of knowledgeable and dedicated staff focused on developing practical regulatory solutions for the industry.

She also emphasized that the team would collaborate with other SEC experts and engage with the public to shape effective crypto regulations.

SEC’s new crypto-focused team

The task force includes Richard Gabbert as Chief of Staff, Michael Selig as Chief Counsel, and Taylor Asher as Chief Policy Advisor. Additional members include Sumeera Younis (Chief of Operations), Landon Zinda (Senior Advisor), and multiple senior advisors such as Donald Battle, Bernard Nolan, and Laura Powell.

Peirce has long been an advocate for clear and fair regulations in the crypto sector. Her latest initiative follows ongoing calls from industry leaders for more regulatory clarity.

This development aligns with a broader trend within the SEC to reevaluate its stance on cryptocurrency oversight. Under the previous administration, the agency intensified enforcement actions against crypto firms, imposing significant penalties.

For instance, in 2024 alone, the agency imposed fines totaling $4.68 billion on crypto businesses, accounting for 68% of its lifetime penalties in this sector.

However, recent months have seen a notable shift. The SEC has closed investigations into several prominent crypto entities, including Gemini, Coinbase, OpenSea, Uniswap Labs, Robinhood Crypto, Consensys, and lately Kraken. This move suggests a more lenient regulatory approach under the current administration.

@ Newshounds News™

Source:  Crypto News

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5 Things Wealthy Parents Teach Their Kids That the Middle Class Might Not

5 Things Wealthy Parents Teach Their Kids That the Middle Class Might Not

Dawn Allcot  Mon, Mar 3, 2025,

It’s often said, especially in the United States, that the rich get richer. It’s obviously easier to build wealth if you already have money to invest, a financial education and successful parents who can guide you.

For instance, Amazon may not exist today if Jeff Bezos’ parents’ had not shelled out close to $250,000 in start-up capital so he could launch the online bookstore in his garage, as widely reported by multiple sources. But it wasn’t just their cash that gave the young entrepreneur a leg up. In an article published by People, Bezos referred to his parents as “loving and supportive.”

Besides start-up capital and a safety net that enables people with more money to take bigger risks, what else do wealthy parents give their children that most middle-class parents don’t?

Real-Life Lessons on the Importance of Earning

While middle-class families may offer children an allowance to teach the basics of saving and compound interest, wealthy families emphasize the importance of earning.

“We don’t recommend that wealthy families just give an allowance — especially if the kids aren’t earning it in any way,” said Brian Weiner, founder of the Family Office Resource Group.

Taryn Pumphrey, president of Ledger Lift, agreed, describing how one local retail business owner she worked with involved her children in the family business.

“Rather than simply giving allowances, she tied their earnings to specific business tasks like inventory counting or organizing receipts, teaching both financial literacy and business operations simultaneously,” she said.

How To View Money as a Tool

Wealthy families often have neutral conversations about money, which can alleviate stress and help children view money as a tool, rather than the end goal.

TO READ MORE:  https://finance.yahoo.com/news/5-things-wealthy-parents-teach-190029751.html

Economist’s “News and Views” Monday 3-3-2025

How Gold Is Valued & Why $25k-$55k Makes Sense in a Revaluation Scenario | Tavi Costa

Kitco News:  3-3-2025

What do historical financial crises tell us about today's market? Kitco News Anchor Jeremy Szafron interviews Tavi Costa, Partner & Macro Strategist, Crescat Capital on the sidelines of PDAC in Toronto.

Costa discusses the rare convergence of demand for gold from both Eastern and Western economies and why he believes silver is on the verge of a significant move back to its all-time highs.

Costa analyzes the potential impact of revaluing gold prices and inventories, referencing historical comparisons to the 1940s and 1970s.

He also touches on the U.S. dollar's overvaluation and potential strategies for investors in response to these macro trends, including opportunities in emerging markets and natural resources. Key points:

Gold revaluation: Could reach $24,000-$55,000/ounce based on historical comparisons.

Dollar Overvaluation: The U.S. dollar is at its most overvalued level in 120 years.

Silver's Potential: Silver is showing positive short-term action, derivatives of gold are looking attractive near term.

Investment strategy: Consider rebalancing investments from tech to commodities and emerging markets.

00:00 Introduction: Gold and Silver Market Insights

 01:02 Historical Context of Gold Valuation

 02:36 Current Economic Indicators and Predictions

 04:15 Impact of U.S. Fiscal Policy on Gold

08:51 Energy Policy and Natural Resources

14:55 Investment Strategies and Market Rebalancing

19:34 Silver Market Opportunities

https://www.youtube.com/watch?v=7Vaw1lYQUIo

URGENT WARNING: “They Can’t Prevent the Crash That Is Going To Happen” - Mike Maloney

3-3-2025

Is another historic market crash on the horizon? In this eye-opening video, Mike Maloney breaks down the worrying signs that echo past financial crises—from extreme stock market valuations to unprecedented debt levels.

Discover why gold is capturing renewed attention, how yield curve inversions have been a consistent recession indicator, and what the Federal Reserve might do next.

If you’re wondering how to protect yourself from a potential economic storm, this episode is for you.

Key Takeaways

 • Learn about critical market signals that have predicted past crashes

 • Understand the shift of capital from speculative stocks into gold

• See why record-high consumer debt might lead to a harsh economic reality

• Find out how Federal Reserve policy could shape the next financial chapter

https://www.youtube.com/watch?v=IVGeaeJXoxs

WARNING! Without DIRECT AND IMMEDIATE Intervention, The US Economy Has 6 Months Left...

Greg Mannarino:  3-3-2025

https://www.youtube.com/watch?v=SaQ60wLVnEg

Seeds of Wisdom RV and Economic Updates Monday Afternoon 3-03-25

Good Afternoon Dinar Recaps,

LAWMAKERS LAUNCH BIPARTISAN CONGRESSIONAL CRYPTO CAUCUS FOLLOWING TRUMP BITCOIN PUSH

The first of its kind group will allow pro-industry lawmakers to vote as a bloc on key legislation.

House Majority Whip Tom Emmer (R-MN) announced the creation of the first ever congressional crypto caucus on Monday, which he says will allow pro-industry lawmakers to vote as a unified bloc on pertinent legislation.

The move comes just a day after President Donald Trump announced he's directed the Presidential Working Group to "move forward" with plans to establish a "crypto strategic reserve"—a federal stockpile of state-owned digital assets—which would include Bitcoin, Ethereum, Solana, Cardano, and XRP.

The caucus appears to be a bipartisan effort, led both by Emmer—a staunch crypto advocate—and Rep. Ritchie Torres (D-NY), one of the industry’s most vocal Democratic allies.

In a post to X on Monday morning, Emmer characterized the caucus as “a nonpartisan group of members ready to mobilize to support and defend open, permissionless, and private innovation in the United States.”

The inclusion of the term “private” in that definition would seem to be an attempt to smother any notion that as the U.S. government gets more involved in crypto, it might seek to develop technologies like a central bank digital currency, or CBDC.

Major foreign bodies like the European Union have pushed ahead in developing digital currencies in recent weeks. President Donald Trump, on the other hand, moved to ban the creation of an American CBDC days after retaking the White House. Republicans have, for years, claimed that CBDCs would pose an existential risk to financial privacy.

Decrypt reached out to Emmer’s office regarding the House crypto caucus’ top priorities and the potential initial size of its membership but did not immediately receive a response.

House caucuses are formally organized groups of lawmakers who meet to pursue shared legislative objectives and tend to vote in blocs on key issues.

Dozens of such groups currently meet on Capitol Hill. They are shaped around identity groups (Congressional Black Caucus); ideological leanings (Congressional Progressive Caucus); foreign policy (Congressional Friends of Denmark Caucus); and, in many cases, industry representation (see: Congressional Cranberry Caucus, Chicken Caucus, and Natural Gas Caucus).

While crypto has notched a slew of high profile political victories in recent weeks—from the dismissal of key lawsuits targeting industry leaders, to Trump’s doubling down on a controversial federal crypto stockpile—the somewhat less flashy announcement of an industry caucus nonetheless brings the sector one step closer to more permanent status as a mainstay special interest group in Washington.

After years of extreme political volatility for crypto that have reaped both the lowest of lows and highest of highs, perhaps becoming a household staple akin to chicken or cranberries isn’t so unappealing.

@ Newshounds News™

Source:  Decrypt

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BRICS REACTS TO TRUMP & ZELENSKY’S WHITE HOUSE HUMILIATION

Trump and Zelensky’s White House interaction has taken the world by storm as the dirty laundry was washed in public. The war of words turned cinema as both leaders indulged in sharp criticism. 

In the aftermath of the show, the minerals deal, which Zelensky visited the US was rejected by Trump. However, the Ukrainian President said that he is open to signing the deal if the US agrees to move forward. BRICS member Brazil has reacted to the Trump-Zelensky fight and came down hard on the US President.

BRICS: Brazil Reacts to Trump-Zelensky’s War of Words

Brazilian President Luiz Lula da Silva, who will chair the upcoming BRICS summit, reacted to Trump and Zelensky’s White House war. He sharply criticized the way Trump treated Zelensky in front of reporters and other dignitaries. Lula da Silva called Trump’s attitude “grotesque and disrespectful,” against Zelensky. Additionally, he added that the US President “humiliated” Zelensky for no reason as he visited the US to discuss the minerals deal.

“I have never seen a scene as grotesque and disrespectful as the one that took place in the Oval Office of the White House. I sincerely believe that part of society thrives on disrespecting others. And it is not possible to speak of democracy if there is no respect for other human beings.

I think Zelensky was hamulated; in Trump’s mind, he probably deserved it. I think the European Union was harmed by the American speech,” said the Brazilian President who will chair the 17th BRICS summit.

Trump’s stance against Ukraine is alienating Europe as the European Union (EU) wants to hold Russia accountable for the war. BRICS member China is making use of the tensions and is extending cordial relations with Europe. Moreover, many European countries are looking to increase business deals with China as negotiating with the US has become increasingly difficult.

@ Newshounds News™

Source:  Watcher Guru

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CONTROVERSIAL IRS CRYPTO REPORTING REGULATION

Lawmakers, including Senator Ted Cruz and Cynthia Lummis, have introduced a resolution to overturn the IRS rule, with a vote expected this week.

▪The US Senate is set to vote on an IRS rule requiring crypto brokers to report detailed transaction data, a move that has sparked controversy in the industry.

▪Critics argue that the tax reporting mandate could stifle DeFi innovation, leading to legal challenges and calls for its repeal.

▪Lawmakers will also review a separate Consumer Financial Protection Bureau (CFPB) regulation that affects digital payment apps.

The US Senate is preparing to vote on a controversial IRS regulation requiring “brokers” to report gross proceeds, cost basis, and gains or losses from digital asset transactions, including cryptocurrency, stablecoins, and non-fungible tokens (NFTs).

The law, formally introduced in December 2024 and enacted in January 2025, has faced strong opposition from the crypto community. Critics argue that the regulation threatens the growth and innovation of the decentralized finance (DeFi) sector, leading to a lawsuit challenging its implementation.

Lawmakers Push for Repeal

While the legal battle continues, Senator Ted Cruz, alongside Senators Cynthia Lummis, Pete Ricketts, and others, has taken legislative action to challenge the rule, according to a CoinDesk report on Monday, citing sources familiar with the matter.

The lawmakers have introduced a joint resolution urging the repeal of the IRS regulation. A source close to the matter revealed that Congress is expected to vote on the resolution this week, a decision that could determine the rule’s future.

The Congress has the power to challenge and potentially overturn unfavourable new laws enacted by government agencies under the Congressional Review Act (CRA).

In addition to the IRS measure, Congress is also set to review what CoinDesk described as an “11th-hour regulation” from the Consumer Financial Protection Bureau (CFPB), which impacts digital payment applications.

Donald Trump Finally Adds Crypto to National Reserve

The previous administration introduced both rules in an attempt to curb innovation within the crypto sector. In 2024, the then-US president signed an executive order directing the government to assess the risks and benefits of cryptocurrencies.

The measures targeted six key areas: consumer protection, financial stability, illicit activity, US competitiveness, financial inclusion, and responsible innovation. However, despite these efforts, the industry remained without clear regulatory guidance during his tenure.

In contrast, the current administration is taking steps to establish a well-defined regulatory framework for cryptocurrencies in the US. 

Last month, President Donald Trump issued an executive order instructing federal agencies to review existing laws and create a clear regulatory structure for digital assets and related services. Agencies such as the Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ) have been given 30 days, starting January 23, 2025, to carry out this directive.

Beyond regulatory reforms, Trump has pledged to position the US as the “world crypto capital,” aiming to lead in regulation, innovation, and technological advancements within the sector.

On Sunday, Trump officially unveiled the long-anticipated crypto reserve, incorporating major digital assets like XRP, SOL, and ADA. He emphasized that Bitcoin and Ethereum would be the “heart of the reserve,” reaffirming his strong support for the top two cryptocurrencies.

@ Newshounds News™

Source:  CoinSpeaker

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

9 Biggest Mistakes High Income/High Net Worth Millennials Make

9 Biggest Mistakes High Income/High Net Worth Millennials Make

Thomas Kopelman

We often associate wealth with financial expertise, but this could not be further from the truth. High net worth people are not immune to making mistakes. In fact, they make just as many mistakes, if not more than everyone else.  And the worst part about it is that these mistakes they make can be even more costly due to higher dollar amounts behind the mistakes.

Let me help you avoid this by walking you through 9 of the most common mistakes I see high net worth millennials make.

Note: Learn from these. You can easily avoid them!

1. Thinking Their Income Will Always Be There

This might apply towards people with high incomes more than people with high net worths. But regardless, this group of people are taking on a huge risk assuming that their income will always be there. There are 3 main ways income can be lost:

Loss of job – Plenty of high income folks get cut when businesses are not doing well. This is why diversifying, building up assets, having an emergency fund, etc. is crucial.

A disability putting you out of work – 1/4 millennials will have a disability that stops them from working. The stats are scary. Having disability insurance in place to protect your income can be crucial!

Business Failing – Many high net worth accumulators are business owners. This means most of their wealth is in the business and their income is tied to it. That concentration brings on a lot of risk. Managing this business well and diversifying as you earn is crucial to keep you on a good path. Do not just use your business as a piggy bank.

2. Making Their Finances Too Complex

This is something I see way too often, people start making good money and their wealth builds. And because of this, they think they need to start investing in anything and everything.

Anytime a friend or someone they know comes with a business idea, they get involved. And then all of the sudden their balance sheet is all over the place. They have little organization or coordination, and oftentimes even lack liquidity.

Be careful doing this! You do not need to invest in anything and everything. Oftentimes the best strategy is to keep things simple. You do not want to get burned.

3. Taking On Too Much Unneeded Risk

https://thomaskopelman.com/2023/08/9-biggest-mistakes-high-income-high-net-worth-millennials-make/?utm_source=apexmoney&utm_medium=dailynewsletter&utm_campaign=keep-it-simple

Some Iraq and Iran News Posted by Clare at KTFA 3-3-2025

KTFA:

Clare:  Counterfeit currency and 'unmarked' gold dealers busted in Iraq

3/3/2025

The National Security Service announced, on Monday, the arrest of promoters of counterfeit currencies and traders of "unmarked" gold in Baghdad and the provinces of Dhi Qar and Diwaniyah.

The agency said in a press statement received by Shafaq News Agency, "Two suspects were arrested in Baghdad in the Al-Baladiyat area, who were promoting counterfeit local and foreign currencies. 3,400 counterfeit US dollars in 100-dollar bills were seized in their possession, in addition to various amounts of counterfeit Iraqi dinars."

He continued, " In Dhi Qar, an illegal commercial complex was raided for selling unmarked gold. It was found that its owner was offering usurious loans to citizens in exchange for seizing Key Cards and Master Cards. 122 cards, a gold piece, four seals, records of the dealers, electronic devices, and an amount of 12 million and 750 thousand dinars were seized."

He pointed out that "in Diwaniyah, the apparatus' detachments were able to overthrow a gang specializing in promoting counterfeit currency, where an ambush was set up for one of the gang members and two suspects (a man and a woman) were arrested red-handed while exchanging counterfeit money, and an amount of 215 thousand counterfeit US dollars was seized in their possession, in addition to the vehicle they were riding in."  LINK

Clare:  Mazhar Saleh: Geopolitical controls push towards shifting to official channels for currency trading

3/3/2025

Mazhar Muhammad Salih, the financial advisor to the Prime Minister, confirmed that the geopolitical controls imposed on informal trade contribute to expanding dealings with official outlets for foreign currency, which contributes to financing foreign trade through the sound international financial system.

He pointed out in his statement to {Euphrates News} that "this shift aims to move away from informal financing from the parallel dollar market intensively, especially with the change in the behavior of small traders in avoiding the parallel market linked to the countries' regional and geopolitical problems." 

Saleh added that "this shift comes in the context of the importance of increasing Iraq's foreign reserves and confronting money smuggling operations, in addition to facilitating external transfer operations through Iraqi banks that deal with international banking correspondents, at an official exchange rate of 1,320 dinars per dollar."

He also stressed that the end of the compliance platform phase adopted by the Central Bank of Iraq in the past two years and the country's entry into a new phase has contributed to providing great flexibility in financial transfers through official channels.   LINK

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Clare:  Oil Minister: A boom in investment in associated gas and raising its rates to 67%

3/3/2025

Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani Al-Sawad received today, Monday, a German delegation that includes representatives of the German Embassy in Baghdad, the German Chamber of Commerce, and companies specialized in various oil and non-oil fields.

Abdul Ghani confirmed, in a statement from his office, a copy of which was received by {Euphrates News}, "Iraq is keen to cooperate with various parties, including German companies, which have a long history in the field of industry and are of high quality and acceptable in Iraq."

He pointed out that "Iraq has made great strides in the field of developing the oil industry, and in particular the optimal investment of gas, as Iraq has achieved, during the life of the government, a great leap in the field of investment in associated gas and raised investment rates from 53% to more than 67%, and Iraq is determined to stop flaring gas and achieve self-sufficiency in 2028."

Abdul Ghani explained that "the ministry has major projects in the gas investment sector, the most important of which is the gas development project in Basra with Total to invest 600 cubic meters in two phases, in addition to other projects in the field of gas field development, as the ministry signed contracts to develop the Mansouriya and Akkas fields, and signed contracts to develop 14 fields and exploration areas, which were offered in the fifth and sixth supplementary licensing rounds."

He added, "The ministry has investment opportunities for gas and oil exploration fields and blocks from the last licensing round that have not been referred. The ministry is working to develop them through investment projects with specialized international companies."

German companies presented a review of their activities and offers to work and cooperate with the Ministry of Oil and its formations, in the fields of exploration, pipelines, laboratories, training, and the provision of equipment, tools, and supplies for oil facilities.  LINK

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Clare:  Iraq-Turkey Pipeline Reopening Pressures Oil Prices, Signals Potential Market Shift

3/3/2025

ERBIL  – Oil prices experienced volatility as news of the anticipated reopening of the Iraq-Turkey pipeline raised expectations of increased supply, despite Iraq’s ongoing commitment to OPEC+ production constraints, according to a report by Robin Mills, CEO at Qamar Energy, published in the Energy This Week newsletter on Monday

Mills noted that crude oil prices ended higher on Monday but dropped on Tuesday following reports that the Iraq-Turkey pipeline is set to resume operations. The country’s deputy oil minister, Bassem Mohammed, recently confirmed that 185,000 barrels per day (bpd) from the Kurdistan Region could be exported after domestic allocations are met. Before its closure in March 2023—following an arbitration ruling—the pipeline transported around 450,000 bpd.

“The market is reacting to the possibility of higher supplies, but Iraq is still constrained by its OPEC+ commitments,” Mills stated. He added that while the pipeline’s reopening may put downward pressure on oil prices in the short term, long-term impacts will depend on Iraq’s ability to balance exports with production limits.

Mills also highlighted the role of U.S. diplomatic efforts in pushing for the pipeline’s resumption. “Washington has been applying pressure on Baghdad to restart exports through the pipeline, which requires an agreement between the federal government and the Kurdistan Regional Government (KRG) on budget allocations and payments to international oil companies,” he explained.

Meanwhile, British Petroleum (BP) has reinforced its presence in Iraq’s energy sector by finalizing a deal to redevelop the massive Kirkuk oil fields in the country’s north. Mills pointed out that BP, part of the original consortium that discovered Kirkuk’s oil in 1927, estimates the contract area contains up to 20 billion barrels of oil equivalent. “This redevelopment could help Iraq secure a higher production quota within OPEC+,” he noted.

However, BP itself faces challenges, and Mills referenced recent discussions suggesting that a merger with Shell could strengthen the struggling British energy giant.

Iraq’s Energy Sector and Geopolitical Pressures

Iraq, OPEC’s second-largest oil producer, has long grappled with balancing its production ambitions against OPEC+ output agreements. While Baghdad seeks to increase exports to boost revenue, it remains bound by cartel-imposed limits, a tension that has led to periodic disputes.

Mills emphasized that the reopening of the Iraq-Turkey pipeline is particularly significant for the Kurdistan Region, which has faced financial strain since the shutdown. 

The U.S. has been actively working to counter Iran’s influence in Iraq, particularly following President Donald Trump’s return to office. By pressuring Baghdad to resume pipeline exports, Washington aims to strengthen its economic ties with Erbil while reducing Tehran’s leverage over Iraq’s energy sector.

As Iraq navigates these complex political and economic dynamics, the coming months will be crucial in shaping the country’s energy strategy amid shifting global market conditions and geopolitical maneuvering.   LINK

Clare:  Kurdistan Region's Oil Exports Near Resumption

3/3/2025

ERBIL – All preparations for resuming the Kurdistan Region’s oil exports to Turkey’s Ceyhan port have been completed, according to an announcement by a member of the Iraqi Parliament’s Oil and Gas Committee.

The long-awaited move comes after almost two years of suspension, which has cost the Iraqi government billions in revenue losses.

Ali Shaddad al-Faris, an MP from Basra and a member of the Oil and Gas Committee, confirmed that no obstacles remain to restart the oil flow. “According to the budget amendment, the amount to be sent from the region is between 300,000 to 325,000 barrels of oil per day,” he stated.

Additionally, al-Faris revealed that the Kurdistan Regional Government (KRG) has requested an increase in the amount of oil used for domestic consumption, seeking an expansion from 45,000 barrels per day to 110,000 barrels per day.

Iraq’s Oil Minister, Hayan Abdul Ghani, announced last Friday that the Federal Oil Marketing Company (SOMO) would initially sell 185,000 barrels of Kurdistan Region oil per day through Turkey’s Ceyhan port. This figure is expected to gradually rise until it aligns with the quota specified in the federal budget.

The decision marks a significant development after prolonged disputes over oil revenue-sharing between the Kurdistan Regional Government and Baghdad. Since March 2023, exports have been halted following an international arbitration court ruling in Paris, which favored the Iraqi federal government in its legal battle over oil export rights.

The suspension of exports has resulted in an estimated loss of over $21 billion for Iraq’s treasury, underscoring the economic urgency of restoring Kurdish oil sales.

US-Iraq Talks and Diplomatic Pressure

The resumption of oil exports has been a key issue in recent U.S.-Iraq diplomatic discussions.

Last Tuesday, U.S. Secretary of State Marco Rubio spoke with Iraqi Prime Minister Mohammed Shi’a al-Sudani, marking their first official conversation. According to statements from both governments, the meeting was productive, addressing a range of issues, including the Iraq-Turkey pipeline.

On Friday, Reuters reported that the Trump administration has been pressuring Baghdad to allow the restart of Kurdish oil exports as part of Washington’s broader "maximum pressure" campaign on Iran. The U.S. sees Kurdistan’s oil exports as a strategic economic lever, and Secretary Rubio specifically raised the issue with Prime Minister Sudani.

Tammy Bruce, the U.S. State Department spokesperson, stated that both leaders agreed on the importance of reopening the Iraq-Turkey Pipeline "as quickly as possible." The involvement of Washington further underscores the geopolitical importance of Kurdish oil exports and the role they play in regional energy dynamics.

Economic and Political Implications

The restoration of oil exports is expected to ease financial strains on both Erbil and Baghdad. The KRG relies heavily on oil revenue to sustain its economy, and the prolonged suspension has exacerbated budgetary challenges, including delays in public sector salaries. Meanwhile, Baghdad seeks to recover billions in lost revenue and stabilize its economic outlook.

However, broader negotiations between the KRG and Iraq’s federal government remain ongoing, particularly regarding revenue-sharing mechanisms and long-term agreements on oil production rights.

As preparations are finalized and the first shipments of Kurdish oil are set to flow once again, all eyes will be on how efficiently the resumption process unfolds and whether it signals a more stable economic and political relationship between Erbil and Baghdad.  LINK

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Clare:  Due to the collapse of the toman.. Iranian parliament dismisses the Minister of Finance

3/2/2025

The Iranian parliament dismissed Finance Minister Abdolnaser Hemmati on Sunday after starting a no-confidence vote against him over his handling of the high inflation rate and the decline in the national currency exchange rate, state television reported.

The source explained that the Minister of Economic Affairs and Finance, Abdolnasser Hemmati, lost the vote of no confidence against him, with 182 parliamentarians out of 273 who attended the session designated for his dismissal supporting the motion.

Earlier on Sunday, Iran's parliament began a session that included a vote of no confidence in the finance minister, following a sharp decline in the value of the Iranian currency, the rial.

On the black market on Sunday, the riyal was trading at more than 920,000 to the US dollar, compared to less than 600,000 in mid-2024.

The decision to withdraw confidence from Finance Minister Abdolnaser Hemmati comes nearly 8 months after the formation of the government under President Masoud Pezeshkian.

Under the Iranian constitution, the minister's dismissal would take effect immediately, with an acting minister appointed until the government chooses a replacement.   LINK

New York Fed GOLD Vault! Your Gold & Silver Investment is About to Become Priceless - EB Tucker

New York Fed GOLD Vault! Your Gold & Silver Investment is About to Become Priceless - EB Tucker

Money Sense:  3-3-2025

A potential gold revaluation presents a unique, non-default pathway for managing the United States surging national debt.

The discussion extends beyond simple market pricing, with central banks showing renewed interest in physical gold and a global trend toward repatriating tangible assets.

 EB Tucker explains that if gold reaches 4,000 dollars per ounce, US reserves would be worth 27 trillion dollars —about half the US stock market's valuation.

 He highlights that stocks are a uniquely American asset, contrasting them with the London Stock Exchange, which struggles to retain major companies. It took gold a decade to appreciate from 2,000 to 3,000 dollars, and according to our charts, the market is behaving similarly to 2011, a peak that lasted a decade.

Thus, moving from 3,000 to 4,000 dollars might take another decade. If so, the interest payments on an equivalent amount of debt would roughly wipe out the price gain.

Reflecting on his personal experience, Tucker recalls visiting the New York Fed gold vault in 2001. He notes that institutional investors avoid physical gold, preferring futures and contracts since physical metal is lately seen as "dead money" that doesn't generate returns.

However, recent developments have raised concerns over the accuracy and transparency of these reserves. Speculation about potential shortages or overstatements in US gold reserves could significantly impact financial markets, inflation expectations, and investor sentiment.

However, Tucker emphasizes JP Morgan's near silver crisis due to the Wall Street Silver movement. He explains that institutions avoid holding physical metals, preferring to lease gold and create complex financial instruments.

 Recently, gold deliveries on the COMEX have reached record levels, a clear indicator of the explosion in demand for physical gold. This phenomenon could create a snowball effect, prompting other major institutions and central banks to step up their delivery demands, putting further pressure on the system as a whole.

Looking at major fundamentals, EB Tucker argues that gold's price movements over the past few years were due to a well-managed, financialized market rather than external factors like tariffs. He explains that large-scale futures trading was used to control price volatility, but recent declines in futures volume indicate a shift in market dynamics.

 Strength in gold earlier this month is linked to increased safe-haven demand, increasing expectations of accelerated Federal Reserve interest rate cuts, and growing inflows into gold-backed exchange-traded funds.

Since December, over 600 tons of gold have been transferred to New York City vaults, according to the World Gold Council.

Gold has not been a direct target of tariffs, but market reactions to trade uncertainty have driven a significant shift in trading behavior and impacted the gold price.

 The movement of gold from London to the US, rising COMEX premiums, and concerns over availability were largely the result of risk management decisions rather than true supply issues.

https://www.youtube.com/watch?v=op4U4IB6Tb0

“Coffee With MarkZ” Monday Morning Chat 3-3-2025

Thank you MarkZ for all your time, and encouragement daily….. PDK

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

​​Member: Good morning tier 4b people it’s another day another dollar …I only get to keep a dime… come on baby. It’s RV time.

Member: Am I the only one that thinks we’re so close but still so far away?!? I hate to be so negative but holy cow this is never ending journey.

Member: I understand the depths of frustration, it's like our lives are standing still

Member: Someday we will look back at this loooong wait and know it was worth it.

Member: It sure feels like news has stopped everywhere….very quiet in Dinarland over the weekend.

Member: Have you heard any good RV news over the weekend Mark?

MZ: There is a huge amount of hype going on for tomorrow. If I am hearing this- I am sure you all are hearing it too. Big expectations going on right now on the RV side.

Member: So if it’s plastered all over the place….guaranteed no notifications will happen.

MZ: I don’t know. By now, whenever everybody is saying its time. We all, at this point assume it’s not happening. We are numb. Boy who cried wolf , wolf, wolf…..noone believed him…no one was listening anymore……but finally the wolf was really there. So maybe this is positive

Member: Many think Trumps State of the union address to the nation will be big tomorrow night.

MZ: And Kurdistan oil is supposed to start tomorrow as well. The pipeline is ready. So along with the State of the union speech…it should be a big day tomorrow. We may even see a softball pitch about Nesara.

Member: ​​Trump tweeted tomorrow will be big. He will tell it like it is. I’m super excited to see what he is going to say.

Member: Trump just announced an investment press conference at 1:30 EST today.

Member: Any bond information Mark movement on any of your bond contacts thank you

Member: Isaac said things moving very quickly

MZ: Where do I go without getting anyone in trouble? I know so many historic bond contacts that are scheduled for final contracts on Tuesday….I did get information over the weekend that makes me difficult for me to say anything …..I should not say more than that until I get clarifcation.

Member: Let’s hope that is very good news.

MZ: In Iraq: “Masher Saleh : Geopolitical controls push for the shift to official channels for currency trading”    He is an economic advisor to Sudani and he is talking about how successful they are with economic reforms. Being able to track everything now has made a huge difference. They are still talking about raising the value of the dinar and giving purchasing power to every Iraqi.  .

MZ: “Iran’s Parliament fires minister of finance over plummeting Rial and mismanagement” They are saying it’s all his fault. They forget to say they spend a ridiculous amount of their GDP on military funding and terrorist organizations…

MZ: Iraq is working closely with the Government of Switzerland for the massive amount of money that was moved in 2003. These are funds that were embezzled out of Iraq. They are trying to settle all these old crimes and corruption. They want all these funds to be returned to the government of Iraq.

MZ: With Nesara/Gesara….They have to clean things all up …I think they are doing it right now.

MZ: “Crypto spikes as Trump discusses strategic reserve ahead of White House Summit”  Big announcement this weekend…..They put Bitcoin and Etherium in it. What the Trump team is putting in there provides for a free standing financial system outside of SWIFT and Central Banks. If anything in there is actually gold or asset backed…we would have a complete slam dunk. They have the ability to do that quickly. XRP is also one of those.

Member: I see xrp being = to 1 ounce of gold and xlm to 1 oz silver

Member: Didn’t President Trump say at the end of Feb. They could no longer use the US dollar in Iraq and Iraq?

MZ: They were shooting for that date. They have come close to that. The last week or so they have really clamped up on dollar flows to Iran.

Member: Markz-  is this  the closest you've ever seen this RV happening ?

MZ: There are so many balls in the air right now…and it could all come together very quickly. But this is absolutely the closet I have ever seen us.

Member: Everyone in my world thinks this will never happen. Can’t wait to say, “see I told ya”!!

Member: Out of 340 million people in USA only 1 million will be exchanging. See how blessed we are!

Member: when you watch the clock it seems to go into slow motion ... live life & glance at the clock occasionally ... don't worry be happy ... lol ... we're about there ...

Member: Thanks everyone. Have a great day

Member: Hang in there- It’s always darkest before the dawn!

Mod:  NO PODCAST TONIGHT! SEE YOU ALL BACK TOMORROW AT 10:00 A EST!  FROM NOW ON NO MORE NIGHTLY PODCASTS ON MONDAYS AND FRIDAYS

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

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Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

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THANKS FOR JOINING. NO PODCAST TONIGHT! SEE YOU ALL BACK TOMORROW AT 10:00 A EST!

Youtube:     https://www.youtube.com/watch?v=5CTUaqggCOo