Differences between Rich and Poor

Have you ever wondered what the difference is between rich and poor? Why do some people sink into the abyss of poverty while others swim the ocean of unspeakable wealth?

Sometimes it comes to you to say that some people are rich because they were born with a silver spoon in their mouth. That is, that is not the conclusion because there are many people out there who were not born under any silver linen, even though they are millionaires now. What happened? What is different? Now here’s what I realized.

The difference between rich and poor is mentality. The rich and the poor think differently. The poor don’t have that mindset that the rich have. They approach the same issue from a different perspective and standpoint.

The rich seek opportunity. The rich are always yearning for the opportunity to grow their wealth while the poor man is wallowing in self -pity and he is exhausted in search of sympathy. He shares the blame syndrome; Blaming his relatives, friends, government, even the rats in his house was ignored, as responsible for his plight. Instead of thinking about how he could get out of the cocoon of his extreme poverty he fed it by constantly searching for a goat. With such a mindset you will not recognize the opportunity for wealth if you find one.

The rich move but the poor just pass by. If the rich man saw an opportunity to hasten his wealth, he picked it up. Not the guy with the bad mindset. He has a thousand and one reasons why what he sees is not an opportunity for enrichment and so his circle of poverty continues, because he will let go of that opportunity. Sorry to say this; it is like dropping gold in front of a pig, it is not valued.

The rich are willing to take risks and make sacrifices, whether it be in time, effort, money and so on. They have no motivation to venture into the world of the unknown. They are content with the world they know. As such they continue to maintain the same state throughout their lives.

Have you ever wondered why businesses are called ventures? A businessman is in danger. I’m sure you know the part of capital investment: that’s the money invested in a new company to help it grow, which can involve a lot of risk. But you will find those with rich mindsets are equally at risk.

A person who does not take risks ends up paying for the risk of the other person. If you have a risk, others will pay you for it. That’s what the rich know that Mr Poor’s mindset doesn’t know.

You have to understand that being rich doesn’t mean you lack anything and being poor doesn’t have to do with the fact that you lack the basic benefits of life. It has to do with the mentality you have.

If you were born poor that doesn’t mean you can’t be a millionaire. To achieve financial success you need to change your mindset. If a poor person thinks the way the rich do and does what they do, he has the same consequence and more.

Saving Money Does Not Mean Delivering Quality

The thinking in America today is “much much better.” “It’s worth the cost.” “Get it and pay for it later.” These ideas are not wise. Our government is a prime example of our national debt with an all time high record of insolvency.

Saving life does not mean choosing poverty and certainly it does not mean stopping quality. Many millionaires are millionaires not because they became famous or because they inherited money. They are themselves millionaires who work hard, sacrifice and choose to spend their money wisely. I’m not saying that all of us who work hard, sacrifice and spend smart money can become millionaires but we can really live more comfortably and without worrying from under the stress of owing others our salary.

Here are the things you can do to anticipate that salary:

1. Payment money. If you can’t pay cash don’t buy. Stop using credit cards. Credit cards are a trap. The only way you should use a credit card is if you pay it off in full each month. If not cut it! Charging an item to a credit card and then paying it off over time ends up costing twice as much sometimes as even triple the original value of the item. You better save a few months and pay money then charge it and they will try to pay the credit card. You are consumed by interest.

2. Eat at home. Pack your lunch and take it to work. Lunch per day costs anywhere from $ 10- $ 15 a day. If you pack your lunch, you reduce the amount by up to $ 2- $ 3 per lunch or even less if you scatter the leftovers at home. That’s saving $ 160- $ 240 a month. It doesn’t matter, if you cut back on eating at dinner time and eat at home as a family. That’s extra savings of over $ 200 a month.

3. Write a budget. Budget your income at the beginning of each month. Assign a set portion of your income to your primary expenses ahead of time. This will help ensure that you do not waste money. (Main expenses: Rent / Loan, utilities, food, car payments, gas, insurance, storage, etc.) It helps you figure out what goes where and how much you have left after you pay. all so you don’t have to spend.

4. Buy new used or have a discount. You can get anything you need whether newly used or at a discount. You need to know where to look. Don’t pay full price for anything. The Big Lot, Ross Dress for the Not Easy, Nike Outlet, The Dump, and more are examples of stores that can get discounts on new items. These stores have sales and coupons at discounts as well as new items. Garage sales, furniture rental, warehouse stores and now and then the internet is a great resource. EBay is a great tool for new and used items. You’ll be amazed at what you’ll find and how expensive it will be once you start looking. No one knows the difference. You’re addicted!

Wealth Seminars Are Not All Bad

The world is running fast, we all have a lot to do, people to see, places to go. I think it’s time to find ways to slow down. One thing we can be sure of in this life is that things change. It’s time to change the way we spend most of our time working for little reward. It’s time to value the lives of the people we’ve always loved. Time to look for ways to make money that don’t involve a lot of time. We will also examine what is being done, prioritize a little more and spend our time in areas that are important to us. Let families be families too, not ships at night that pass through their entry or exit.

I know these changes may not be for everyone, but I also know that there are people out there like me who want the time and money to do the things they want and be like those. person they love. People like me whether young, old or anywhere in between are willing to find ways to do it, because if you want to get it, just don’t stop.

Wealth Seminars are a great way to learn new ways to increase your income and lose the time you need to do it, well good really good in some cases, many scams here, Don’t let yourself stop going out and looking for people who are willing to share honest and valuable skills and techniques so you can lead a better lifestyle, the Seminar will help you develop your mental, physical and emotional self, to live life to your full potential. Strategies for property deals, part of market methods, internet growth and business. Face it, we all want a life that doesn’t just revolve around working for others, that pays less than your worth and sees that you’re constantly chasing rising prices and interest rates. Deciding to get an education that will give you pathways for a good financial future may be all you need to achieve some freedom and security in your life.

So the next time you’re whinging about your job, don’t have enough time or money to consider doing some research and searching for an honest and true wealth coach.

Finance and Hobbies

Do your hobbies require you an arm and a leg

Pleasures give us a sense of release from our day-to-day issues; the satisfaction one derives from seeking a pleasure whether it be collecting stamps, bank notes, beer labels, or any other items described by people as being collectible, boating, sport, auto racing, or other.

If you have a hobby you need to make sure it doesn’t cost more than you can and it doesn’t cost your retirement funds.

There are ways to keep the cost of your entertainment; take whatever you collect. You can list your duplicate items on eBay or other auction sites. You will also be provided with an estimate of class demand for your specific class to be collected.

It is also important to know that one thing is only worth whatever others are prepared to pay. If you can’t find a buyer for whatever you’re collecting it’s not worth anything.

There are some sentimental things though, things that may not have any amount of money but have no family value like old photos or heritage.

It may not cost you anything to get it because it may have been passed down through generations or given to you but that’s not how many collectibles get with a tendency to describe hoarding.

Unless someone has an unlimited amount of money to spend all of these things have to be expensive on something.

People often go so far as not to fund their hobbies like not owning a car, not contributing to their retirement fund, or not spending money on much-needed home repairs.

A collector who owns numerous collections of beer labels, 30,000+ of which I believe are proud to be boasted of by all who visit. Maybe anyone knows how he spent getting this collection but the most unfortunate thing is that he didn’t contribute to his retirement fund and therefore lost government incentives.

The old adage of “I could die before retirement and for others to get my money,” has been used many times, but there are others who can inherit his beer label collection and if there are any financial crops. like a huge medical bill he would do. could not afford it, and it was doubtful whether he would be willing to part with his collection even if a lot of money was offered for it.

The same is said for any other activity that is a hobby. The old adage “Pay yourself first” is true because sooner or later someone who doesn’t manage their finances well will be found later to get it from them.

Teach Your Children About Money – It’s So Important

Man’s journey towards success begins at the age of accountability and continues throughout the day to day for the rest of his life. Once a child is smart enough to get any money given to him as he is ‘my money’; that child is ready for Financial Literacy lessons.

Many countries are experiencing economic collapse today. It could have been at the very least if not completely removed. How can the current economic crisis be avoided? Answer: if today’s leaders, like school children in the past, were taught the essential principles of wealth creation and livelihood. I am saddened by how countries with so much human endowment and natural resources are doing this badly.

The same phenomenon applies to children of wealthy parents, at least most of them. Studies have shown that a high percentage (up to 90%) of the children of wealthy people do not end up rich in life. At best, they only earn enough to earn a living. This is because they never learn how to make, save and use money properly. They are also not taught or disciplined how to run the necessary wealth creation laws.

Unfortunately, financial literacy is not taught in most schools; it’s not really part of the school curriculum. As parents, whether rich or poor, we are all fervently demanding better standards of living than ever before. Parents struggle to ensure that their children do not live the lives of hardship and poverty they have gone through themselves.

Yes, this task is to teach the concept of money management to young children but they need to know the basic skills about money and they need to know it NOW.

There are people who believe that kids know nothing in business about money; but the fact is that habits are formed from a very young age. These are the habits we teach our children so they can grow up and live. Many adults find it difficult to save today because they are not taught the basics of saving money and using it wisely.

Let us help our children and our future; we will work together to eliminate financial insecurity. We will help build nations that live in peace with each other because everyone is comfortable. Starting as a child, your child, we can rotate the economy of our countries for the best. Yes, We Can!

You Need More Income

The presidential election is over and I can tell you this today. President Elect Donald Trump will not save you. You will need more income. Senator Hillary Clinton also can’t save your finances. The middle class is actually dead. That dream of finding a good job, buying a house, owning a car, and saving to stay on green pastures is an illusion.

I don’t believe it. See all the fast food, security, and customer service jobs out there. There is no shortage of work. Jobs are everywhere whether you are willing to work for the minimum wage or slightly higher. The unemployment rate has declined every year since the last recession. Americans are scared because they live on a salary to be paid. They are in debt up to their eyeballs. A failure and they could be financially devastated.

Don’t think the middle class is dead. Will the next POTUS bring back the resurrection of the middle class? Heck no, it’s been declining especially in 30 years. Think about it. If you’re making $ 100k in places like Los Angeles, New York, San Francisco or Chicago you’re having a hard time. Especially, if you carry student loans, a loan, and a lot of credit card debt.

The Journey of The Broke

Work, pay, and then work the barley on the next paycheck. Then use credit cards, pay-day loans, or home equity lines to bridge the gap until you get paid again. That’s the journey of the broken. A vicious cycle that has hit most American households today. People don’t come first. You can blame the economy, greedy corporations, or bad business deals. Ultimately why you are broken because of YOU.

Until you have created a lot of income the debt cycle and not enough money will come back on its own. Income is the king of financial security. Here people fail. They don’t make more income. Make sure spending cuts and having a monthly cashflow plan can help your finances. But until you increase the revenue line … you’ll have a hard time.

Getting Someone to Work

The easiest way to make a lot of income is to get a second job. Yes, there is a tone of jobs out there depending on where you live. Pizza delivery, security guards, fast food workers, and other small salary opportunities. I didn’t say make a new career I said take a second job.

Getting a second job is the easiest thing to do to change your financial future. It’s not that it’s not permanent. This is immediate income and if you manage the money right you can be financially secure for a year. It takes work and discipline. Now if you have family obligations that won’t allow you to get a second job you have to find other ways so we can.

Sell ​​your Crap

Yes I call it crap. If you pay a monthly fee for storage, you won’t park your car in the garage (the garage is intended for your car that isn’t stockpiled), or you’ll still have to move things around your house after you’ve cleaned it. Afterwards you have to sell the cannon. Hold a yard sale. Get it and make some money. Post it on eBay or other sites. Clean the cutter and fatten your wallet.

Hurry to the Edge

With Uber and Lyft you can control your side. Keep up your entire work and do these independent contractor jobs. Choose your own hours. Work as hard as you can. Don’t like to drive? Find something that has changed and add to your lead.

Business guide

This is the hardest way to make a lot of money. But it can create wealth if you are successful. If you are not touched by the entrepreneurial spirit then find another job. Can you make your hobby an empire? You probably understand that in order to make a lot of money in a business you need sales. Marketing is the lifeblood for all businesses. No sales no success.

Make More Income

I have given you many ways to make a lot of money. Put together a short and long plan. The middle class is dead. Your future finances are in your hands. Many streams of income can help you survive a middle class crisis.

Financial Advisers – How Has Reverse Sexism Become The Acceptable Norm?

In my view, pretending to be non-sexist by engaging in sexist activities is perhaps the worst manifestation of a moral foundation within human endeavor. Let’s take an example from the Financial Media Industry if possible.

All right, the Wall Street Journal put together a list of Top Financial Advisors and on that list both male and female based on rankings, actual return and amount of money under management. Afterwards the Wall Street Journal put together a list of Top Women Financial Advisors. To look at this one is easy to say; unya? Yet that’s because we’re trained to think it’s right, even if it reveals a complete bias towards women. I ask myself why did the Wall Street Journal do this?

Simply put, those who are in the media are journalists, journalists spend a lot of time in college to get their degree in journalism, thus having a lot of time to be washed away by the trap of sexism theory, one says that in our patriarchal that society women are victimized anyway. . The Wall Street Journal, a business newspaper, pretends to be above all of this but clearly they are not, judging the options within them.

If things are fair and there is no sexism and everyone is truly ‘gender neutral’ there is only one list of men and women, or there are two lists, one with only men and one with only women. equal to both. If we look at the list of all Financial Advisors there is only one woman in the top 20, and four in the top 100, which is not a good display, and of course there may be reasons for this, but those are numbers, equal and square. We live in a competitive society and the financial sector is real, and that’s the real consequences in line with pre -set criteria. That is the truth.

If for a reason we, as a society are concerned about women not looking well in surveys and data analysis, or if the Wall Street Journal is concerned, then we have a much better options;

A. Don’t Publish The Survey At All

B. Two Different Surveys – One for Men and One for Women

If we choose “A” then we are biased in keeping or hiding data, doing nothing but perpetuating the error of ability and advancing the theme that men and women are equally equal in all. aspect of human endeavor. dili. We all know or should already be aware of this, simply by observing our species and basic humans looking at ways inherent in our species’s need to understand the world around us.

So, a long “A” is better than the way we now do the Financial Advisor Survey, but probably not as good as choosing “B” which is more meaningful.

Now, one could argue a Professor of Gender Studies for sure, that the reason women are only 4 in the top 100 is because the industry used to be biased against women. Okay just a minute? First, the field of Financial Advisor is much more recent, in fact the first people were even licensed for it, and the first courses took place in the late 70’s and early 80’s. There were women in this first classes. I know because I married one of them, enrolled in the very first class actually. Most of the people in the class are men, but there are women as well.

Maybe the class title or topic didn’t interest the girls. Anyone at the time is allowed to sign up. Most of the stock brokers that are relatively saturated with the norm are those of the first class, but not all, some are just people from finance, banking and accounting, and other backgrounds and interests. There was no bias at the time the industry really started. In fact, some might say that because Financial Advising is so much about ‘relationships’ with clients that women can be more suited, this is really my bias to say, as I believe the women, whose mothers in the family unit are particularly well. than men with relationships, but I violate, because of enough words spent on the subject to fill a day’s worth of man -made Internet Data.

So, why don’t men portray women as financial advisors? Similarly, one can say that men are often more competitive so will take a higher risk approach, which will lead them to be more successful or more often less successful, thus collapsing and burning and looking for new work in other sectors. A survey showing low or bad performance (in terms of return) Financial Conduct in this case will be filled with men; and women who are better relationship builders less risky because they don’t want to lose money their clients will show more frequent returns what time is a way safer bet . This could actually make them ‘better’ overall, a topic for a future dialogue.

The funny thing about all of this and you know, I don’t give a shit about ‘gender equality’ or even hold high respect in the financial sector; so while people are busy playing with gender equality, and the government is busy passing many regulations in the sector, Artificial Intelligent Robo-Advisors have come and taken their place. Soon, the best person for a job isn’t male or female or even transgender, it’s a computer. Well done people, you do it yourself – Again!

Few Things Are More Important Than Your Certificate of Deposit Rates

Whether you’re planning for retirement or just looking to protect funds, finding reliable long-term investments always means comparing certificate of deposit fees at different institutions. CD rates are likely to be short, and many plans have ended up tracking surprisingly close to inflation. That is, a portfolio with a moderate certificate of deposit payments may grow in dollars but not actual amount. It’s better than just burying your money in the hole because $ 500 is worth less than many decades. A bottle of coke that used to cost a nickel can now cost a dollar or more, and not as much as the ingredients fix.

When you get to the point of comparing the certificate of deposit fees of different banks and credit unions, it is important that you remember a lot of pictures. Not only will inflation reduce the impact of any gains but also withdrawing money earlier means penalties. If you find yourself overwhelmed by comparing all the details of different options, keep in mind that some things in life are even more important.

Time to Invest, Not Just Money

If you’ve spent two whole weekends just comparing plans online and talking to investors, you’ve already made a significant investment. How many dollars per hour is your free time? Assuming you work a full -time job, those hours at night and on the weekends are even more valuable. If you have to pay yourself overtime for the hours you spend researching and comparing financial options, could it be that the information you get has earned you so much money?

It’s hard to “invest” time in a way that is as profitable from an hourly salary perspective, but “saving” time is even more encouraging. If you need an entire portfolio for fund management, then why not hire a professional? They may charge long hours, but you also get the benefit of their years of training and experience.

Cultivate a Wealth of Experience

As any advisor will tell you, the best time to start saving is always now — the sooner, the better. But earning money spent means more working hours or no known experience in the short term. Sufficient funds to invest can be spent on small lifestyle adjustments like packing lunch and limiting one person’s will, but the zealous pinch of pennies can also be go too far. If you give up every chance to see your favorite band in concert or sell out all of your vacation days to overtime, then you may be overemphasizing saving. In the immortal words of Jungle Book relentless mentor Baloo, “If you act like that bee, you’re very clean.”

Failure to plan for the future is irresponsible, but there is a point where any hobby or project may be out of hand. Keep in mind the big picture, and if you find yourself comparing certificate of deposit fees at twenty institutions, consider hiring just a financial advisor There are better ways to invest your time and money that allows the enjoyment of life between now and retirement.

Ethereum Decentralized Finance (DeFi): The Future of Finance?

Decentralized Finance, or “DeFi” for short, has taken the world of crypto and blockchain by storm. However, its recent resurgence covers the roots of the bubble era in 2017. While everyone and their dog is doing an “Initial Coin Offering” or ICO, few companies are seeing the potential of the blockchain. more of a quick price gain. These pioneers envisioned a world where financial applications from entrepreneurship to bank savings to insurance could all be simplified on the blockchain without any intermediaries.

To see the potential of this revolution, consider if you have access to a savings account that offers 10% a year in USD but without a bank and almost no risk of funds. Imagine you could sell harvest insurance to a Ghanaian farmer sitting in your Tokyo office. Imagine you could be a trader and earn fees as a percentage as each Citadel wants. How good are you really? No. The future is here.

DeFi building blocks

There are a few key building blocks of DeFi that you need to know before we move on:

  • Automated market creation or exchange of assets for others without trust without an intermediary or clearinghouse.

  • Excess collection lending or being able to “put your assets to use” for traders, speculators, and lenders.

  • Stablecoins or algorithmic assets that track the price of a hedge are not centered or supported by physical assets.

Understanding how DeFi is made

Stablecoins are often used by DeFi because they mimic traditional fiat currencies such as the USD. This is a significant development because the history of crypto shows how quickly things can change. Stablecoins like DAI are designed to track the USD value with small deviations even in a strong bear market, i.e. even if the crypto price breaks like the bear market 2018-2020.

Lending protocols are an interesting development that is often built on top of stablecoins. Imagine if you could lock up your assets worth a million dollars and then borrow against them in stablecoins. The protocol will automatically sell your assets if you do not repay the loan when your collateral is no longer sufficient.

Automated market makers form the basis of the entire DeFi ecosystem. Without it, you are stuck in a legacy financial system where you have to trust your broker or clearinghouse or an exchange. Automated market makers or AMMs for the short term allow you to sell one asset for another based on a reserve of the same assets in its pools. Price discovery will take place through external arbitrageurs. The clearance is filled in accordance with other people’s property and they gain access to the sale fee.

You can now be exposed to many different assets all in the Ethereum ecosystem and without having to interact with the traditional financial world. You can make money by lending assets or becoming a market maker.

For the developing world, this is a strange innovation because now they have access to the entire financial system of the developed world without barriers to entry.