pic by kevindooley @ Flickr
Rich! Rich! Rich!
What does it mean to you?
Of course, there’s monetary wealth. But there’s other things you can be rich in. Good health. Friendship. Love. You name it.
In this edition of Weekly Wisdom, we’ll take a look at some great bits of wisdom on monetary wealth–and some of the other types of riches.
Despite what dozens of personal financial wizards and experts say, get rich schemes DO work.
Usually for the person running the get-rich scheme.
The guy who is at the top of the pyramid marketing scheme does ok.
The gal who is running the Ponzi scheme gets rich quick.
The internet marketer who teaches you how to internet market to people who want to learn how to internet market also gets a few bucks the easy way.
But there are other ways you can make money quickly and easily.
Dreams Come True, Investing, Money, Online Investing AI, Success
Life doesn’t need to be hard.
And, as I read through some posts this week, I noticed something. Personal finance isn’t brain surgery or rocket science, or even rocket surgery.
Getting your financial house in order, spending money effectively, and investing wisely, can actually be pretty easy.
Here are a few bits of advice that proves it.
Finance can be a pretty complex situation.
Some people are just afraid of numbers. And fractions. And percentages.
There’s help out there, number-phobes.
You can find financial calculators that can tackle all of your challenges–whether it’s finding a great investment, or saving for your honeymoon.
aarmono @ Flickr
What if all this economic fear and loathing is a bunch of crap?
It’s really only one scenario that we covered here. What if the economy turns around and recovers like it has consistently done over the past 20,000 or so years of human history?
After all, in the vast context of economic history, this profoundly steep recession or depression, is nothing more than a blip on the chart. In the financial Olympics, it’s a 50-yard dash.
It’s at these moments of clarity (or delusion) that we should examine our long-term financial outlook. Investing is a marathon. Not a sprint. To remain competitive in this long run and to build endurance, you need a training regimen. Here are some tips on how you can be a marathon millionaire.
pic by woodleywonderworks @ Flickr
To say that pessimism reigns in the market misses the mark.
Fear and panic is a better description.
Conventional theory states that cool heads prevail in periods of excessive fear, just as hot heads lose during stretches of irrational exuberance.
There are essentially four scenarios of how this economy will play out over the next few years. At least one of them will flout the conventional notion that bad economies are time to make money.
Accelerating Technology, Investing, Money, Online Investing AI, US Economy
Finding a path is easier than making your own sometimes.
You can lose direction. You can run into unforeseen obstacles. You can lose interest. Or, you can just get tired.
Investors and traders are lucky because there have been trailblazers in the investment world for more than a hundred years. Some of them are less well known than others. Their success has also been well-documented.
Some of the stories are actually reverse-lessons. You should do the opposite of what these legends of stock market success did. Especially after they earned their money.
Here are a few famous investors listed at My SMP–and how they arrived at their fortunes.
Accelerating Technology, Investing, Money, Online Investing AI, Success
pic by aresauburn @ flickr
Welcome to another week of wisdom from bloggers and web writers across the personal financial cyber-universe.
I’d like to pass on some of the best bits of information and wisdom out there this week. We run the gamut: from declaring an end to mindless submission to the renter-from-hell stripper.
Everyone has a hobby, but does your hobby have you financially? Here’s Money Ning’s take on how much you should spend on a hobby.
Early Retirement Extreme kicks against the system in the guest post, No More Mindless Submission.
Check out the The Middle Finger Project for a little primer on Dream Zappers.
Get paid to spend other people’s money? It’s a great gig, as Wallet Genius’s list of richest politician shows.
Accelerating Technology, Internet, Investing, Money, Online Investing AI, Success
Things look precipitous.
That means, freaking scary. As in, falling off a steep ledge freaking scary. Europe is in shambles. Oil is threatening major industries in the southeast United States (like they needed the challenge).
We’ve talked about the problems here and here, too.
Other bloggers are talking about the uncertain financial future. Most are doubtful that the world’s governments are going to have any success with either their stimulus or austerity programs. In fact, they’ll lead to more instability.
Is there a way out?
Authors Matthew Bishop and Michael Greene recognize that we’re on the Road to Ruin, but believe there’s a way out: the free market. Their book, Road to Ruin, How to Revive Capitalism and Put America Back on Top, explains their philosophy.
pic by stopnlook @ Flickr
There are always some great memes and ideas from around the personal finance web. Here are some thoughts and quotes I’d like to share with you.
“Just like a horse needs to wear blinders to block out distractions, you need blinders to focus on paying down debt. So what the heck are financial blinders? A budget and a debt snowball.”
–Deliver Away Debt
“Definition of a Frugalite: One who is frugal, yet fun. A person who wants to save as much of their hard earned cash as possible – but in creative ways.”
–Money Funk
“There are quite a few things that you can do to improve your financial and personal state without spending even a single dime. One of the biggest is simply improving your attitude – the way you interpret the things around you and the way you relate to others.”
–The Simple Dollar
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The Singularity is Near by Ray Kurzweil is the book that started it all. If you want to know about the future, it is the best book I've found. Absolutely fascinating.
Rich Dad Poor Dad by Robert Kiyosaki. This is one of the most popular personal finance books of all time. A must read for anyone who wants to become financially successful.
The Millionaire's Secrets
is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
The One Minute Millionaire is a great book about how to become a millionaire. Written by Mark Victor Hansen and Robert G. Allen, this book combines an inspirational story with practical everyday skills.
The Art of Learning is the fascinating story of Josh Waitzkin, the world champion in both chess and Pushing Hands. His style is mesmerizing, and the strategies for learning are priceless.
The Alchemist is one of the best-selling and most inspirational books of all time. Anyone who has ever had a dream in life needs to read it. Perhaps my favorite book of all time.
Love is the Killer App is a powerful, step-by-step book about how to have a wonderful experience and spread love in any working environment. Think the office has to be a source of bad energy? Think again.
The 4-Hour Workweek is a powerful book full of strategies about how to get more done in less time. For anyone who is looking for leverage or wants to achieve success quickly, this book is absolutely invaluable.
