Posts Tagged ‘interest’

Life Interest

Posted: August 6, 2018 in Thought for the Day
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“Develop an interest in life as you see it.” -Henry Miller

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“‘One out of five cannot pay its monthly bills.’

What will happen to these people when interest rates rise and easy credit disappears?” -Bill Bonner

“Concentration is the most important thing. And I don’t think people can concentrate too well with all the distractions.”

“So how do we cancel out the noise? How do we build that concentration?”

“You can’t cancel the noise out.  You have to learn to concentrate with the world as it is. You can’t change the world. You have to find a way to focus your mind and your energies on concepts that interest you.” -Don McLean

Banks are keeping billions of dollars from Americans…  Right now, according to the Financial Industry Regulatory Authority, about $350 billion is sitting in brokerage accounts earning an average of 0.12%. That’s about $420 million in interest.  But if all those people with that cash just sitting there moved it to an account earning 1%, the interest earning soars to $3.5 billion a year.  That’s like leaving nearly $3.4 billion in free money on the table.  Make your money work for you.  Stop letting these banks steal your interest.” -David Eifrig

“Always bear in mind that anyone who’s selling you something has a vested interest in your belief that his recommendation is the correct one. Listen to him, but then extend your reasoning beyond his recommendation. And come to your own conclusion.” -Jeff Thomas

  • Despite the long bull market, more Americans today have more debt than money in the bank than at any point since 1962, according to Deutsche Bank.
  • American household savings levels are at levels last seen in December 2007… right before the economy slipped into a recession that spurred the global financial crisis.
  • And total U.S. consumer debt – credit cards, auto loans, and student loans – just surged by the most in two years to $3.8 trillion.
  • And government debt is creeping toward a $1 trillion deficit per year. The national debt has topped $20 trillion.

 

If these folks can’t save or make their payments in a strong economy… how will they do it when interest rates go up and the next inevitable recession hits?

The answer is that they won’t.

-Steve Longenecker

You don’t start with a passion, “You start with an interest….  Mastery leads to passion, not the other way around.  You weren’t ‘born’ to invent the next iPhone.  Nobody was.  Even the people inventing the next iPhone weren’t born to invent the next iPhone.  You have to get to the cutting edge, learn what’s missing, identify room for growth and innovate.” -James Altucher