Posts Tagged ‘understanding’

“Persistence and self-reliance that are keys to professional success and building wealth over a lifetime….

Every bit of wealth you save earns you more freedom….

Taking responsibility means understanding where your money comes from, where it goes, and how to put it to work. And it means building up the kind of wealth that helps you sleep well at night and have the freedom to make the choices you want to make.”

-David Eifrig

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“Traditionally, inflation has been defined as ‘an increase in the amount of currency in circulation’….   Unfortunately, in recent decades, even dictionaries have been offering a revised definition of inflation, as ‘an increase in the price of goods and services’….

The purpose of bank-created inflation is to extract wealth from the populace.  By regularly increasing the amount of currency in circulation, banks create an environment in which the concept of debt appears to be beneficial. As a result, virtually everyone in today’s society not only has debt; he actually believes that he couldn’t improve his life except through debt….  In essence, the inflation concept was invented by banks as an invisible tax—a means by which they could extract wealth from the populace.

In effect, the individual is used by the banking system as a milk cow. For his entire working life, inflation is carefully adjusted to extract as much monetary value from his labours as possible, whilst still leaving him capable of continued production….

Refuse to borrow money for any situation. Yes, it will mean that, as your friends show off their new cars, you’ll be driving an older model. They’ll also live in nicer houses than you and they’ll ‘own’ their own house before you do. But, at some point, since you’re free from debt, you’ll pass them by and eventually retire well.

By understanding inflation, and acting on that understanding, the odds of living your life as a milk cow can be greatly diminished.”

-Jeff Thomas

“The key to saving isn’t about raising your income.  It’s not about saving a penny here and a penny there.  It’s about understanding yourself better and shaking all the frivolous desires from your mind.” –David Eifrig

“First, the world is changing.  It’s not a good thing or a bad thing.  But your life is going to change with it.  94% of the 15 million jobs created in the past eight years are either part-time or freelance.  The job landscape is changing.  Corporatism, which ruled the world for 100 years, is ending.  Technology and necessity have taken each industry, destroyed it, and then created 1,000 new and different ways to succeed in it.  Understanding what is new in the world is the LAST step in reinvention though.

Every day we are reinventing.  A river doesn’t stay still.  Every time you step into it, it’s a different river.  You and I are that river.  We either move forward or we freeze like ice.” -James Altucher

“Many Americans – average folks working to build a comfortable life – assume the ‘rich’ have a secret.  It seems they know something about ‘how the world works’ that the rest of us don’t….  It turns out, the wealthy do harbor a secret – three of them, in fact….  And these secrets not only build wealth, they allow you to use it to live the life that you want to live….

You don’t need to be rich, though.  You don’t need to pursue money at all costs.  But having financial stability gives you freedom.  Reducing stress improves your health.  And understanding how to manage your income makes for better relationships with your family and loved ones.

Tenet No. 1: Save Religiously.  Tenet No. 2: Invest for the Long Term.  Tenet No. 3: Obsess About Risk

Only by following all three of these tenets can you successfully set yourself free from living paycheck to paycheck.  If you were to find folks with enough cash to live how they’d want to live, you’d find almost all of them followed these tenets.” -David Eifrig

“Debt is dangerous when you don’t understand it….  What is dangerous is not understanding the costs, terms, and risks of debt.” -Mark Ford