Daily Archives: May 3, 2013



FACT: You frequently can’t tell a millionaire when you see him or her:


Most selfmade millionaires are not pretentious and don’t flaunt their wealth like those who inherit great wealth do to compensate for their absence of true personal achievement in this world. Most selfmade millionaires got wealthy by being frugal and tend to maintain a frugal personal lifestyle in public.


 FACT: It takes money to make money if you are an investor:


It takes money to make money if you are an investor but unfortunately most investments are money losers because there are few areas of the economy which are growing rapidly enough to return a profit greater than the inflation rate or the rate at which money loses value.

It is a smart move to invest some of the money which you are earning in real estate or land which historically keeps pace with inflation. You may not make a great profit on real estate unless there is another artificially inflated real estate market but at least you can feel secure in the historical fact that no one is making more land or real estate and that the chances are good that it will increase in value if you find a good location which is not in a city slum or close to a bad neighborhood.


FACT: You can save money without making much of it:


If you can’t save about 5 to 10% of your income on a regular basis, no matter what your income level, you will probably be living from paycheck to paycheck for the rest of your life because you haven’t learned to set financial priorities in your life and your wants will always exceed your needs financially.

My book HOW TO SAVE MONEY can help you greatly to get started on a thrifty secure life by getting rid of your bad money wasting habits which will only grow if you live from paycheck to paycheck.


FACT: You don’t always get what you pay for:


A large price tag does not always mean that you are getting the best product for the least amount of money. Pay too much for a car and it will wind up costing you more in repairs, gas, and maintenance in the long run. Buy an expensive home and you will waste much money on maintenance, taxes, and large utility bills.

Buy products cheaply which will perform the same utilitarian functions as the expensive items.

Only in food should you pay more for as much certified organic food as your budget can afford because it will translate into lower health costs in later years.


FACT: Money is frequently not the root of all evil:


You need the tool- money, for good or bad purposes or goals in life. If you LOVE money to the exclusion of other important things in life it can have very bad consequences in your life and could be called a means to evil ends.

Preoccupation with money almost all the time means that relationships with family and close friends will suffer and you will be tempted to con humans out of their money to get more of it for yourself. You will never be satisfied with the money that you have but will be wanting more to your last dying breath and you will never learn to share or give away some of that money to a worthy cause such as wildlife preservation or research into a cure for a serious human illness.


FACT: You should save some money for a financially unpredictable retirement:


Setting aside or saving about 5% to 10% of your income and avoiding risky investments like the stock market is the smart thing to do. You never know if you will lose your good paying job just before retirement and be forced to live on a greatly reduced social security check. It may even be the case that social security will go belly up financially in the not too distant future and you will be forced to live on even less than you anticipated early on in life. Because of a severely reduced social security check in the future you may have to leave the country and live in a third world country where the living standard is much lower and affordable.


FACT: You don’t have to be an expert before you get started with investing:


The internet and global monopolies are making most investments a crap shoot which just loses you money in the short and long duration. Stick with land and real estate investment but even here stay out of bad locations close to high crime rates and distressed areas in cities and towns and suburbs.

FACT: Money is frequently not the source of happiness for people above the poverty line:

Above the poverty line most people are roughly equally happy. Having more money generally translates into more debt and having greater expenses to take care of. Frequently problems with offspring exist who are spoiled by the money and have lost the ability to judge its true worth and don’t realize or understand that it takes much personal effort and financial knowledge to make and maintain much money.

Scientifically it has been shown that true happiness originates from living in the moment and doing things which make you feel that you are progressing in life such as learning something new or doing something worthwhile or doing something you like. Buying material possessions cause momentary happiness which speedily fades and can mislead you into impulsive shopping where you are trying to live a happy life with a potpourri of material possessions but wind up very unhappy and deep in debt.

Frequently immature and gullible celebrities gain early fame and can’t handle the stress and temptation of a party life and this frequently results in addiction to legal and illegal drugs, promiscuity, loss of selfrespect, and sometimes even premature ill health or even death.

FACT: A big income will frequently not keep you out of debt:

The wealthy generally have greater expenses and more debt accumulated for more luxuries. Unless they have money set aside for emergencies, they’re both a paycheck away from disaster.

Debt frequently rises with income with conspicuous consumption. What keeps you out of debt isn’t a high income or net worth. It’s not borrowing money.

FACT: Money will frequently not help you find true love:

Money will initially attract the opposite sex but if you are a shallow personality with little ambition, poor social skills, little smarts, little selfconfidence, and with a selfish large humorless ego you will not succeed in getting admiration or affection or loving devotion from the opposite sex.

If your personality is overly pretentious and you have inherited the wealth and not earned it then you may be victimized by a pretentious spouse who will try to get and/or steal as much of the money from you as they can get away with.

You will always be plagued by doubt. Does or did he or she want to marry me for my wealth or my personality?

FACT: Money will only sometimes let you meet interesting people:

The country club is filled with rich humans with inherited wealth who are vain, myopic, pretentious, and judgmental and are boring because they never had to overcome adversity which is what builds character and makes people interesting to be with. Humans who have never struggled in life are frequently shallow uninteresting personalities who are frequently boring to be with.

FACT: Money will frequently not buy close friendships:

Money will buy attention and many people who will want some of it for themselves by hanging around with you and not caring a bit about becoming true friends or humans which you can depend on in times of emotional need and sometimes financial need. Rich people frequently find that humans who they knew before they became rich are more reliable friends than people with dubious motives who befriended them after they became rich or celebrities.

Friendship based on compatible personalities is far more reliable than friendships based on what you can do for your new found friends. If you find any new friends after you become rich there is a large probability that they will also be rich friends who started from scratch and became rich themselves.

FACT: The world is filled with get rich quick schemes which don’t work:

Promises of making much money gambling, blogging, investing in risky stocks, starting an internet retail business, and working a few hours on the internet are all scams designed to part you with your money which may only be as little as a $25 investment toolkit or the cheapest penny stocks around.

A trusting sucker is born every second and there will always be con artists wanting to take advantage of this unfortunate fact by making claims which are too good to be true. Usually the fictions are in the form of promises that with very little time or money invested you can make outrageous profits or money. Beware!!!!!!

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