Wealth Building Strategies

Want to build wealth? Break these 8 rules

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Posted by Bankrate

on Tuesday, 20 December 2016 08:32

build-wealthBeing "upside down" is usually a negative term when applied to financial matters, but multimillionaire Robert Shemin believes that sort of thinking is ... well ... upside down.

Shemin, author of "How Come That Idiot's Rich and I'm Not?" feels there are two positions when it comes to wealth: right side up and broke, or upside down and rich. Shemin prefers upside down. The best way to build and maintain wealth, maintains Shemin -- once considered the "least likely to succeed"-- is by breaking the rules you think and hear about when building wealth.

Following are eight rules worth breaking -- in upside-down order -- and what Shemin and other financial gurus have to say about them.


8. Before investing, learn enough so that you're not going to make any mistakes

The problem here: Fear causes inaction, Shemin says. "Everything in life has a risk and a cost for doing it, and a risk and a cost for not doing it. Rich idiots focus on the risk of not doing something." In his experience, most people don't get started on stock market or real estate investing, or in estate planning, because they're so scared of making mistakes, they're overwhelmed.

"Of course you should expect to make mistakes when you start investing (or any time)," agrees Ramit Sethi, who writes the popular blog, IWillTeachYouToBeRich.com. "But if you start with small amounts, any mistakes won't hurt you too bad. Plus, any mistakes can be mitigated by time."

...continue reading 7 thru to 1 HERE

...related: The Way To Wealth By Benjamin Franklin


Wealth Building Strategies

The Way To Wealth By Benjamin Franklin

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Posted by Financialmentor.com

on Friday, 09 December 2016 08:13

Learn The Wealth Building System That Worked For Benjamin Franklin Many Years Ago, And Still Works Today

Screen Shot 2016-12-09 at 7.02.01 AMEditors Note: Benjamin Franklin was one of those rare geniuses adept at business, invention, writing, philosophy, and politics. His literature inspired intellectual and political freedom, helped found this great nation, and contributed measurably to our culture.

The Way to Wealth, written in 1757, is a summary of Benjamin Franklin’s advice from Poor Richard’s Almanac published from 1733-1758. It’s a compilation of proverbs woven into a systematic ethical code advocating industry and frugality as a “way to wealth”, thereby securing personal virtue. His advice is just as relevant today as it was 270 years ago when first written.

I love this article, and I hope you do too.

For that reason, I’ve taken pains to provide as complete a version of The Way to Wealth as is available; however, I have added some paragraph breaks, title breaks, and minor punctuation and spelling changes to increase modern day readability. I hope you enjoy it.


Benjamin Franklin: The Way to Wealth (1757)

Courteous Reader,

I have heard that nothing gives an author so great pleasure as to find his works respectfully quoted by other learned authors. This pleasure I have seldom enjoyed; for tho’ I have been, if I may say it without vanity, an eminent author of almanacs annually now a full quarter of a century, my brother authors in the same way, for what reason I know not, have ever been very sparing in their applauses; and no other author has taken the least notice of me, so that did not my writings produce me some solid pudding, the great deficiency of praise would have quite discouraged me.

I concluded at length, that the people were the best judges of my merit; for they buy my works; and besides, in my rambles, where I am not personally known, I have frequently heard one or other of my adages repeated, with, as Poor Richard says, at the end on’t; this gave me some satisfaction, as it showed not only that my instructions were regarded, but discovered likewise some respect for my authority; and I own, that to encourage the practice of remembering and repeating those wise sentences, I have sometimes quoted myself with great gravity.

Judge then how much I must have been gratified by an incident I am going to relate to you. I stopped my horse lately where a great number of people were collected at a venue of merchant goods.

The hour of sale not being come, they were conversing on the badness of the times, and one of the company called to a plain clean old man, with white locks, “Pray, Father Abraham, what think you of the times? Won’t these heavy taxes quite ruin the country? How shall we be ever able to pay them? What would you advise us to?”

Father Abraham stood up, and replied, “If you’d have my advice, I’ll give it you in short, for a word to the wise is enough, and many words won’t fill a bushel, as Poor Richard says.” They joined in desiring him to speak his mind, and gathering round him, he proceeded as follows:

Industry: ...continue reading HERE



Wealth Building Strategies

Which of these would you rather have in your safe?

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Posted by Simon Black - Sovereign Man

on Thursday, 08 December 2016 12:33

Gun-safe-graphicLet’s say you have two equal size safety deposit boxes. 

One box you completely fill up with stacks of $100 bills. 

The other box you fill up with gold. 

Which of the two is “worth” more? 

It’s easy to calculate. A stack of 100x $100 bills is 6.14 inches long, 2.61 inches wide, and 0.43 inches tall. 

That’s a volume of 6.89 cubic inches (112.92 cubic centimeters… and we’ll use the metric system from here on out because it really does make more sense!). 

A stack of 100x $100 bills is worth $10,000. So the paper money’s ‘value density’ is about $88.55 per cubic centimeter. 

Gold, on the other hand, is much more value dense. 

A 1-kilogram bar of gold is 11.55 cm long, 5.25 cm wide, and 0.92 cm tall, for a total volume of 55.79 cubic centimeters. 

As of this morning, gold is worth $37,811 per kilogram, meaning the value density of that 1kg bar is $1,278.75 per cubic centimeter. 

So gold is clearly more value dense than paper money, i.e. you can store a LOT more value in the same amount of space with gold than you can with paper money. 

What about silver? 



Wealth Building Strategies

Mega Trends

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Posted by Larry LaBorde

on Wednesday, 07 December 2016 07:58

arows1I have been watching the parade march by and after months of contemplation I have the following comments concerning the next 2 to 3 years.

1.US Presidential election:

The election itself was not as important as the fact that a large percentage of the population has come to realize that we are on a course that cannot continue.  Middle American decided that things must change.  Dissatisfaction with the status quo is really what the 2016 election was all about.  It was not republicans vs. democrats so much as it was globalist against nationalist.  

2. The EU (European Union)

It appears that the euro was doomed from the start.  Monetary policy was centralized but fiscal policy was not.  Merkel’s immigration policy is just the last straw for many Europeans.  Rules and regulations pouring out from Brussels are strangling the economies of all the EU countries.  There are over 1,200 regulations on a “spoon”.  There are over 1,000 regulations on “cabbages”.  These regulations are coming from the central government from unelected bureaucrats that answer to no one.  Many of the unelected ministers make over 300,000 euros / year along with their expenses.  This new mandarin class of overseers can make regulations over the objections of the elected governments in the individual countries.  The Italian banks have 18% of their loans in the non-performing category (US banks are about 2%).  Italy cannot continue much longer without some sort of change.  President Holland in France is on the way out and change is in the air for the coming election there.  The EU will collapse as more countries pull out and quit paying for the central government.  Wealth will flee Europe in the coming chaos and much of that wealth will find its way into the US markets.  It will purchase blue chip stocks, high-end real estate, bonds and precious metals.  This will cause the USD, precious metals, real estate and the stock market in the US to all go up together.  Our balance of trade will become even more lopsided as our exports become more expensive.  

3. Retirement and Life Insurance companies:



Wealth Building Strategies

Incredible opportunities in a hidden corner of the world

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Posted by Simon Black - Sovereign Man

on Wednesday, 30 November 2016 10:42

"for individual investors, the Republic of Georgia is ripe with opportunity" "when the Georgian government abolished its previous Byzantine tax code and adopted a simple, low, flat tax model, government tax doubled" investors are "still earning over 7% on their US dollar deposits"

GeorgiaSimon Black sent me to the former Soviet republic of Georgia to spend some time on the ground conducting due diligence on some potential private investments.

Georgia is a fantastic country that Simon has been to several times, and the opportunities here are simply amazing.

It’s not that Georgia has more opportunities than Europe, the US, and the rest of the world. Investment opportunities are everywhere.

The difference here is that Georgia is totally off the radar of most investors.

It’s a tiny country of 4 million people with a GDP of roughly $36 billion. That’s about half the size of the economy of New Hampshire.

And the total stock market capitalization is just a fraction of Uber’s most recent market value.

This means that it’s very difficult for large, institutional investors to put money to work in this country.

They need big scale… economies where they can easily deploy billions of dollars. There simply aren’t enough of those supersized opportunities here.

That’s why you won’t see a bunch of hedge fund managers on CNBC talking about their investment positions in the Republic of Georgia. It’s too small for them.

But for individual investors, Georgia is ripe with opportunity.

....continue reading HERE


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