Top 25 Gainers in August 2015
Top 25 Losers in August 2015
Top 25 Gainers YTD (Year-to-date)
Top 25 Losers YTD (Year-to-date)
Monday, 31 August 2015
Quote for the day
“Wisdom consists of seeing many things and concentrating on one thing.” - Dickson G. Watts
Sunday, 30 August 2015
10 Habits Financially Stable People Have
By Casey Imafidon
Keeping your financial life stable requires some discipline and development of good financial habits. We all do not want to be in a financial hole that leaves us emotionally and psychologically devastated. It is better to protect our finances when we can, before situations cause our money to slip away from our fingers. That is why it is important to learn a thing or two from the financially stable.
1. They don’t spend impulsively
Money has a way of engaging us. This apparently happens to a big problem for us all as we want to take advantage of the “easier” life. Impulse spending means eating out and shopping extensively until we drain our finances. Financial stability can only be attained when we control and monitor our impulse spending.
2. They save money
Financially stable people spend less than they earn. You may not have abundant capital but you can indulge in the right and important things and not overspend. This affords you the opportunity to save money. So learn to negotiate phone, cable and utility bills. Or
simply reduce how much you spend on grocery, restaurants and clothing.
3. They track their spending
They monitor their spending. This can be done occasionally. Perhaps once a month you can write how much you have spent, and see what areas you are running deficient. When this is done one can understand how efficient he is using up his finances.
They monitor their spending. This can be done occasionally. Perhaps once a month you can write how much you have spent, and see what areas you are running deficient. When this is done one can understand how efficient he is using up his finances.
4. They invest
Financial stable people do well to secure their future. Even when retirement isn’t lurking nearby you can start setting some money outside in deposits for investments
Financial stable people do well to secure their future. Even when retirement isn’t lurking nearby you can start setting some money outside in deposits for investments
5. They eliminate and prevent debts
All debts are not the same. A loan that builds with high interest is not the same as low interest loans such as mortgage and student loans. Debt has a psychological effect that works against the debtor, so it is better to eliminate or prevent debts. Know how much you owe now, whether it is a car loan or credit card debt.
All debts are not the same. A loan that builds with high interest is not the same as low interest loans such as mortgage and student loans. Debt has a psychological effect that works against the debtor, so it is better to eliminate or prevent debts. Know how much you owe now, whether it is a car loan or credit card debt.
6. They budget
Financially stable people budget their income. By using a budget they are able to ascertain where their money is going to and seeing that it goes to where they actually want it to go to. With apps like Mint and You need a budget you can take charge of your budget and start becoming accountable for it.
Financially stable people budget their income. By using a budget they are able to ascertain where their money is going to and seeing that it goes to where they actually want it to go to. With apps like Mint and You need a budget you can take charge of your budget and start becoming accountable for it.
7. They respond automatically
Yes they do not procrastinate with their finance. They do not delay in the paying of their bills. By doing this there is no room for debt growth and affords you the opportunity to know what money can be used for personal expenses.
Yes they do not procrastinate with their finance. They do not delay in the paying of their bills. By doing this there is no room for debt growth and affords you the opportunity to know what money can be used for personal expenses.
8. They give up bad habits
This takes some discipline. But financially stable people understand that bad habits have a way of eating into their income and robbing them off their future joys. Things that truly make you happy are inexpensive and do not leave you swimming in financial wreckage.
This takes some discipline. But financially stable people understand that bad habits have a way of eating into their income and robbing them off their future joys. Things that truly make you happy are inexpensive and do not leave you swimming in financial wreckage.
9. They plan
There are special things or activities that you would want to reward yourself with. It could be buying a house, buying a car, going on vacation. This could be long term goals that require you to efficiently plan and achieve them. Instead of simply procrastinating, put numbers and dates on those goals. By doing this you can be consistent and see them to fruition.
There are special things or activities that you would want to reward yourself with. It could be buying a house, buying a car, going on vacation. This could be long term goals that require you to efficiently plan and achieve them. Instead of simply procrastinating, put numbers and dates on those goals. By doing this you can be consistent and see them to fruition.
10. They take care of their health
Financial stability requires some responsibility. You cannot accomplish nor do much without protecting your vehicle to success, besides medicine is expensive, from medication, examination to treatment. Financially stable people protect their finances by also protecting their health and ascertaining a healthy lifestyle. We all do know unforeseen occurrences can happen but please there are things one can manage and are still in your control.
Source: www.lifehack.org/
Financial stability requires some responsibility. You cannot accomplish nor do much without protecting your vehicle to success, besides medicine is expensive, from medication, examination to treatment. Financially stable people protect their finances by also protecting their health and ascertaining a healthy lifestyle. We all do know unforeseen occurrences can happen but please there are things one can manage and are still in your control.
Source: www.lifehack.org/
Quote for the day
“You’re going to go through tough times – that’s life. But I say, ‘Nothing happens to you, it happens for you.’ See the positive in negative events.” – Joel Osteen
Saturday, 29 August 2015
10 Greatest Speculative Economic Bubbles in History
An economic bubble is a very special financial term, generally known to average citizens. We all remember some interesting examples of financial bubbles from our history and economic lessons, such as Tulip Mania, where prices for tulips grew so inflated in the 17th century Holland, that people would sell their houses and livestock, to possess a bulb for a few days, with the intent to sell it for higher price in a short time frame. This rudimentary derivatives market worked great for a time, until, well, people realized, that the trading doesn't have any sound reasoning and some just refused to honor their contracts, resulting in the rows of bankruptcies. This economic fiasco ended the Dutch golden age, leading the economy into recession.
And there are some market bubbles, that have occurred only recently and is not just a funny legend, that we remember, but have probably left an impact on our wallet, as well as our mind, such as the US Sub Prime Mortgage Crises. Take a look at the infographic, designed to you by Infographic Design Services that illustrates all the famous economic bubbles in history, describing their causes, development and results for the economies.
And there are some market bubbles, that have occurred only recently and is not just a funny legend, that we remember, but have probably left an impact on our wallet, as well as our mind, such as the US Sub Prime Mortgage Crises. Take a look at the infographic, designed to you by Infographic Design Services that illustrates all the famous economic bubbles in history, describing their causes, development and results for the economies.
Source: http://www.visualistan.com/
Quote for the day
“Tight congestions in which a breakout occurs for reasons that nobody understands are usually good risk-reward trades.” - Bruce Kovner
Friday, 28 August 2015
Quote for the day
“I know several people who claim to have market insights during dreams. I think one of the functions of dreams is to reconcile information and feelings which the conscious mind finds intractable.” - Ed Seykota
Thursday, 27 August 2015
Quote for the day
“Don't trade until an opportunity presents itself. Knowing when to stay out of the markets is as important as knowing when to be in them.” - Mark Weinstein
Wednesday, 26 August 2015
Warren Buffett's Best Advice on Navigating Stock Market Crashes
One of the world's wealthiest men has seen his fair share of market swings and knows how to deal with the stress of market volatility.
3. On greed and fear:
By Travis Wright
Last week was a terrifying week for Wall Street; with the Asian markets tumbling and the Dow Jones down almost 600 points yesterday, this could be a crazy ride. The biggest 500 American stocks have dropped nearly 10 percent in the past five days. The Chinese Shanghai Stock Exchange plummeted over 12 percent.
Last week was a terrifying week for Wall Street; with the Asian markets tumbling and the Dow Jones down almost 600 points yesterday, this could be a crazy ride. The biggest 500 American stocks have dropped nearly 10 percent in the past five days. The Chinese Shanghai Stock Exchange plummeted over 12 percent.
It's been years since we've seen this kind of market fear, but don't worry (okay, worry a little)--Warren Buffett is here to the rescue. One of the world's wealthiest men has seen his fair share of market swings, and he knows how to handle them. Even better, he's brimming with tips and advice that investors of all levels can utilize.
Whether you're a well-seasoned investor on the brink of retirement, a newbie with your very first money market account, or somewhere in between, follow Buffet's sage advice to get you through this market storm:
1. View stocks as gambling:
1. View stocks as gambling:
"I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years."
This might be a little too late for some investors, but right now is the best time to switch your investment tactics. Just like gambling, don't bet (on the stock market) what you can't lose.
2. Wealth doesn't equate to marketing knowledge:
2. Wealth doesn't equate to marketing knowledge:
"Wall Street is the only place that people ride to in a Rolls-Royce to get advice from those who take the subway."
Granted, if you take Buffet's advice, you're getting tips from someone who could ride in a Rolls Royce. Still, wealth doesn't necessarily equate to how well you know the market (and by far, most truly wealthy people don't splurge on items like overpriced cars). If you want market advice, take a look at the person's history and portfolio, not their bling.
3. On greed and fear:
"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
One of the simplest rules of investing is to buy low and sell high--so why is that so difficult? Fear. When the market starts to crash or look a bit shaky, people start to panic. And panicked people do stupid things. Don't act rashly just yet.
4. The Dow vs. Everything Else:
4. The Dow vs. Everything Else:
"In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497."
The economy and just about everything else doesn't have as much to do with the Dow as people think. Don't assume the two are intertwined bed buddies at every turn. The economy can be used as one of many tools to predict market trends, but it's not a crystal ball.
5. Derivative as deadly weapons:
5. Derivative as deadly weapons:
"Derivatives are financial weapons of mass destruction."
In other words, use them (or not!) wisely. Find a financial consultant who works with your aversion (or attraction) to risk and who can guide you without bullying you.
6. Knowing when to jump ship:
6. Knowing when to jump ship:
"Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks."
You don't want to sell solely out of fear, but you don't want to hold stubbornly on to a losing investment, either. Timing is everything. There are winners and losers with every market crash, and it's largely up to you which team you're on. Choose wisely, and let those--like Buffet--who've been there and done that help you out.
www.inc.com
www.inc.com
Quote for the day
“Man is an animal suspended in webs of significance that he himself has spun.” - Clifford Geertz
Tuesday, 25 August 2015
Quote for the day
“There are two mistakes one can make along the road to truth... not going all the way, and not starting.” - Siddhartha Gautama (Buddha)
Monday, 24 August 2015
Quote for the day
“Speculation is very similar to playing a game of cards... each of us is possessed with the common weakness of wanting to have an interest in every pot... it is this human frailty which we all possess in some degree that becomes the investor's and speculator's greatest enemy and will eventually, if not safeguarded, bring about his downfall.” - Jesse Livermore
Sunday, 23 August 2015
10 Money Mistakes Successful People Don’t Make
Managing money effectively is a key success skill. Successful people make the decision to become effective with money, many of them early in life. Like any area of life, it is important to educate yourself about the threats and challenges in the world. Taking the time to master a few key principles will pay off for years to come.
8. They don’t pretend to understand everything when it comes to money.
The world is a vast and complex place–successful people know and deeply understand this truth. When it comes to money, there is a lot of information out there. That’s why successful people like Warren Buffet understand their limits and focus on their strengths.
Tip: Review your knowledge of money and investments. If you are just starting out, read one or two classic personal finance books. Or read 9 Can’t-Miss Secrets Behind Warren Buffett’s Wealth for more insights from one of the world’s most successful investors.
9. They don’t transfer responsibility to experts.
Successful people do seek out the advice of experts, yet they never yield responsibility. For example, it is reasonable to seek advice from a tax accountant in planning your financial affairs. However, successful people take the time to ask questions and evaluate the person providing advice to them.
Tip: When seeking advice from professionals like accountants and lawyers, ask questions and seek to have the advice explained to you. Otherwise, it is difficult to act on the advice.
10. They don’t let the pursuit of money overcome other values.
Seeking financial success is a valid goal. Significant financial resources give you more options to give to causes you believe in. It also means improved access to technology, health care and leisure. However, successful people understand that financial success is only one aspect of a successful life. For example, neglecting health in the pursuit of money is a poor strategy.
Tip: Review your personal goals to see if you have a balance between financial goals, career goals, family goals and other activities.
www.lifehack.org/
1. They don’t overspend; they live on less than they make.
Living on less than you make is an essential money management skill. Some of the world’s wealthiest people have taken this principle to heart. For example, Sir John Templeton, a legendary investor who became a billionaire, saved 50% of his income even when he grew up with limited means. If that is more than you manage, don’t worry! You can reach financial success by saving 10-15% of your income.
Tip: Learning to live on less than you earn takes time. Start by looking for ways to save money
Living on less than you make is an essential money management skill. Some of the world’s wealthiest people have taken this principle to heart. For example, Sir John Templeton, a legendary investor who became a billionaire, saved 50% of his income even when he grew up with limited means. If that is more than you manage, don’t worry! You can reach financial success by saving 10-15% of your income.
Tip: Learning to live on less than you earn takes time. Start by looking for ways to save money
2. They don’t fixate on price; they understand the importance of value.
The price you pay for an investment, a meal or piece of clothing is only part of the story. Successful people also think about the value of that good. For investments, they consider the prospects for the investment growing in the future. For personal items, they look for high quality products that will last. For example, a well made pair of business shoes may cost $200 or more but these shoes can last for years with proper care.
Tip: Buy high quality products that will last for a long time.
The price you pay for an investment, a meal or piece of clothing is only part of the story. Successful people also think about the value of that good. For investments, they consider the prospects for the investment growing in the future. For personal items, they look for high quality products that will last. For example, a well made pair of business shoes may cost $200 or more but these shoes can last for years with proper care.
Tip: Buy high quality products that will last for a long time.
3. They don’t waste cash on fees and interest; they know how to manage their banking
Carrying a balance on your credit card is incredibly expensive and sadly common. According to CNN, the average American household carried over $15,000 in credit card debt. Successful people also keep an eye on their bank fees–how much they pay for ATM use and other transactions. These fees are easy to avoid with planning once you understand how the system works. Simply reviewing your financial accounts for 5-10 minutes each month is all it takes to understand your fees.
4. They don’t forget to adjust their finances after big changes in life.
Did you get married recently? Is your spouse referenced in your will? These are some of the points that financially successful people manage effectively. While you can automate a great deal of your finances, it is vital to make adjustments when your life and family circumstances change significantly. Sitting down by yourself (or with a financial expert) at least once a year to review your life and financial plan is an excellent way to stay on top of important changes.
Learn: Arrange your finances for the long term with estate planning.
Carrying a balance on your credit card is incredibly expensive and sadly common. According to CNN, the average American household carried over $15,000 in credit card debt. Successful people also keep an eye on their bank fees–how much they pay for ATM use and other transactions. These fees are easy to avoid with planning once you understand how the system works. Simply reviewing your financial accounts for 5-10 minutes each month is all it takes to understand your fees.
4. They don’t forget to adjust their finances after big changes in life.
Did you get married recently? Is your spouse referenced in your will? These are some of the points that financially successful people manage effectively. While you can automate a great deal of your finances, it is vital to make adjustments when your life and family circumstances change significantly. Sitting down by yourself (or with a financial expert) at least once a year to review your life and financial plan is an excellent way to stay on top of important changes.
Learn: Arrange your finances for the long term with estate planning.
5. They are not satisfied with a stagnant income; they look for ways to increase their income.
Some people never ask for more money or simply settle for 1-3% increases. Unfortunately, that rate of income growth means you are simply standing still–inflation is slowly eating away at your purchasing power. Instead, successful people look for ways to earn more income. Increased income gives you more options for personal enjoyment, more capacity to give money, and a sense of security.
Successful people take daily action to increase their income. For example, they take a course to improve their skills or they contribute ideas to improve the productivity of their companies. They also know how to ask for more money.
Tip: Do yourself a favour and learn about high paying fields.
Some people never ask for more money or simply settle for 1-3% increases. Unfortunately, that rate of income growth means you are simply standing still–inflation is slowly eating away at your purchasing power. Instead, successful people look for ways to earn more income. Increased income gives you more options for personal enjoyment, more capacity to give money, and a sense of security.
Successful people take daily action to increase their income. For example, they take a course to improve their skills or they contribute ideas to improve the productivity of their companies. They also know how to ask for more money.
Tip: Do yourself a favour and learn about high paying fields.
6. They don’t ignore financial statements.
Reaching financial success requires some slow and steady habits. That includes forming a habit to monitor your financial statements. Successful people set a time each month–30 to 60 minutes–to review all of their financial accounts: investments, bank accounts, credit cards and more. When they detect an error or omission, they take immediate action.
Tip: Set a recurring reminder in your calendar each month to review your financial accounts.
Reaching financial success requires some slow and steady habits. That includes forming a habit to monitor your financial statements. Successful people set a time each month–30 to 60 minutes–to review all of their financial accounts: investments, bank accounts, credit cards and more. When they detect an error or omission, they take immediate action.
Tip: Set a recurring reminder in your calendar each month to review your financial accounts.
7. They don’t take foolish risks in money.
Warren Buffet is often quoted as saying, “Rule number one is never lose money.” All investments carry some measure of risk (and therefore the potential to lose money). That said, successful people use two powerful tools to avoid losses. They understand the value of insurance to control risk (e.g. home, auto, and life insurance) and the importance of asset allocation.
Remember: If it sounds too good to be true (or if you don't understand how it works), slow down and start asking plenty of questions.
Warren Buffet is often quoted as saying, “Rule number one is never lose money.” All investments carry some measure of risk (and therefore the potential to lose money). That said, successful people use two powerful tools to avoid losses. They understand the value of insurance to control risk (e.g. home, auto, and life insurance) and the importance of asset allocation.
Remember: If it sounds too good to be true (or if you don't understand how it works), slow down and start asking plenty of questions.
8. They don’t pretend to understand everything when it comes to money.
The world is a vast and complex place–successful people know and deeply understand this truth. When it comes to money, there is a lot of information out there. That’s why successful people like Warren Buffet understand their limits and focus on their strengths.
Tip: Review your knowledge of money and investments. If you are just starting out, read one or two classic personal finance books. Or read 9 Can’t-Miss Secrets Behind Warren Buffett’s Wealth for more insights from one of the world’s most successful investors.
9. They don’t transfer responsibility to experts.
Successful people do seek out the advice of experts, yet they never yield responsibility. For example, it is reasonable to seek advice from a tax accountant in planning your financial affairs. However, successful people take the time to ask questions and evaluate the person providing advice to them.
Tip: When seeking advice from professionals like accountants and lawyers, ask questions and seek to have the advice explained to you. Otherwise, it is difficult to act on the advice.
10. They don’t let the pursuit of money overcome other values.
Seeking financial success is a valid goal. Significant financial resources give you more options to give to causes you believe in. It also means improved access to technology, health care and leisure. However, successful people understand that financial success is only one aspect of a successful life. For example, neglecting health in the pursuit of money is a poor strategy.
Tip: Review your personal goals to see if you have a balance between financial goals, career goals, family goals and other activities.
www.lifehack.org/
Quote for the day
“The stock market, in brief: participants are calmly waiting in line to be slaughtered while thinking it is for a Broadway show.” - Nassim Taleb
Saturday, 22 August 2015
7 Common Mistakes On The Journey To Being Wealthy
Wealth has often been used synonymously with being rich. However, the two are not the same. Being rich is only a small element of your overall wealth. When we talk of wealth in this context, we are speaking about the passions, freedoms, experiences, relationships, desires and actions that money can't buy.
There are so many people in our society today who die in the pursuit of riches, never realizing that they were some of the wealthiest men on the planet. It is obvious that money should be saved, invested and not wasted. However, there is also a certain degree of self-awareness that must be reached to attain wealth.Below are seven mistakes many individuals make in their pursuit of wealth.
1. They spend time on things that don't align with their true wealth.
According to author Bronnie Ware, one of the top five regrets of the dying is, “I wish I’d had the courage to live a life true to myself, not the life others expected of me.” It’s easy to get caught up in what society defines as wealth: successful businesses, money, power, prestige etc.
In reality, wealth is whatever you value most. That could be family, travel, solitude, adventure etc. However, you have to be self-aware enough to understand what your true wealth is and prioritize that over the labels and definitions of popular culture. No two people will have exactly the same wealth, because not everyone wants the same things out of life. The wealthy will not spend so much time, money and resources on something that is not an absolute passion.
To redirect your life and focus, take a few minutes to actually write down your wealth like you would a budget. Make sure you are writing down thing you love to do (ACTIONS) and not material things like boats, planes, fancy cars etc. that most people put on their vision boards.
4. They don't pay themselves first
When trying to create monetary wealth, the obvious first step is to create a budget. However, most people don't truly understand how to write and follow a budget that will create wealth. Most people create a budget either by calculating how much they need to pay for all their needs, wants and bills and still make it to next month, or, they figure out how much money they have to spend that month and budget to spend it all on their bills, needs and wants.
This budget ensures survival, not wealth. To really get ahead you have to create a budget that pays you before it even considers paying a bill or buying a want. You must then pretend that money doesn’t exist. It’s not vacation money or new car money. This is your nest egg and you are going to have to sit on it awhile and watch it grow before it is ready to hatch.
5. They don't take risks
So, you have saved a hefty sum and your nest egg is ready to hatch. This is where you are going to have to be very strategic in trying to turn your rainy day savings into a stockpile you could retire on. While saving and not overspending are good habits to have, they can become money mistakes if you don't eventually put your money to work for you.
Any great capitalist will tell you that the key to creating great wealth is being willing to take a risk. Men like Vanderbilt, Rockefeller and Carnegie are perfect examples of risk-takers. They saw the possibility of a need and even though they knew it came with great risk, they had the vision to know that the reward was greater. These men were driven by a resolution greater than money. For them, creating wealth meant creating a legacy. Money was only a consequence of the actions they took in the pursuit of purpose and passion.
Any investment you make is going to be a risk. However, you can offset some of that risk by learning and gaining knowledge.
“Risk comes from not knowing what you are doing” – Warren Buffett.
6. They don't understand the value of a reputation.
The dynamics of commerce in our culture today is quickly changing and the wealthy are quickly beginning to realize that your reputation and integrity is legal tender. Gone are the days of stomping on the little guy or back stabbing people on your way to the top. This old way of thinking is a big money mistake.
In today's online world, individuals and Businesses rely on reviews and rating when choosing a product or service. When people want to know about the services you provide, they automatically take to the internet to find out what people say about you. In this sense, your reputation is legal tender. One bad review could mean ten lost customers.
7. They don't know how to delegate.
Many people open businesses to make money and be rich. However they never learn how to delegate work. This mistake can tend to be very costly. The wealth that is the freedom of owning your own business is replaced with the stress of thinking that the business cannot run well or smoothly without you.
This way of thinking will ensure that you burn out from stress. Do not confuse delegating work with micromanaging your employees. You must be able to trust their abilities to lead. Find out what the passions of your team are and see if there are any problems within the business that they are inspired to take action and lead change. This system helps you delegate work without ever having to delegate it. You will begin to see more work being done and accomplished around you.
If not addressed, the sum of these mistakes will begin to add up in cost. Take this moment to reflect on your perceptions .Are you on a path to wealth, or have you just trying to be rich.
“The joy and fulfillment found in the process of achieving your dreams and living with passion is often confused with the result of being rich. Do not measure your life’s journey to success with the fickle accompaniment of monetary and riches. Your journey should be measured by the memories gathered, not the receipts; the moments spent in passion, not cash; and happiness shared, not bought.”
http://www.lifehack.org/
There are so many people in our society today who die in the pursuit of riches, never realizing that they were some of the wealthiest men on the planet. It is obvious that money should be saved, invested and not wasted. However, there is also a certain degree of self-awareness that must be reached to attain wealth.Below are seven mistakes many individuals make in their pursuit of wealth.
1. They spend time on things that don't align with their true wealth.
According to author Bronnie Ware, one of the top five regrets of the dying is, “I wish I’d had the courage to live a life true to myself, not the life others expected of me.” It’s easy to get caught up in what society defines as wealth: successful businesses, money, power, prestige etc.
In reality, wealth is whatever you value most. That could be family, travel, solitude, adventure etc. However, you have to be self-aware enough to understand what your true wealth is and prioritize that over the labels and definitions of popular culture. No two people will have exactly the same wealth, because not everyone wants the same things out of life. The wealthy will not spend so much time, money and resources on something that is not an absolute passion.
To redirect your life and focus, take a few minutes to actually write down your wealth like you would a budget. Make sure you are writing down thing you love to do (ACTIONS) and not material things like boats, planes, fancy cars etc. that most people put on their vision boards.
2. They have too many goals.
One major money mistake people make on the road to wealth is having too many goals. In other words, having too many things you want to accomplish is actually a distraction. Mike flint, is a pilot who has flown four United States presidents. He was also the personal pilot of Warren Buffet for ten years.
He asked Buffet for tips on prioritizing his career and building wealth. Buffet told Flint to write down his top 25 goals and then circle his top 5. As flint confirmed that he would start working on his top-five list right away, Buffet inquired about the second list. “It’s not as urgent, so I ll get to it later” He said. To which Buffet replied, “No Mike, you have got it all wrong. Everything you didn't circle just became your avoid it at all cost list.”
Take a few more minutes and clean up the distractions that you have created for yourself by setting to many goals. Write down your top 25 life goals and circle your top 5. The remaining twenty just became your distraction list. They should be set aside without attention until your top 5 have been accomplished. If not, your lack of focus will cost you in the long term.
One major money mistake people make on the road to wealth is having too many goals. In other words, having too many things you want to accomplish is actually a distraction. Mike flint, is a pilot who has flown four United States presidents. He was also the personal pilot of Warren Buffet for ten years.
He asked Buffet for tips on prioritizing his career and building wealth. Buffet told Flint to write down his top 25 goals and then circle his top 5. As flint confirmed that he would start working on his top-five list right away, Buffet inquired about the second list. “It’s not as urgent, so I ll get to it later” He said. To which Buffet replied, “No Mike, you have got it all wrong. Everything you didn't circle just became your avoid it at all cost list.”
Take a few more minutes and clean up the distractions that you have created for yourself by setting to many goals. Write down your top 25 life goals and circle your top 5. The remaining twenty just became your distraction list. They should be set aside without attention until your top 5 have been accomplished. If not, your lack of focus will cost you in the long term.
3. They don't know how to live “Sophrosyne”
To live Sophrosyne is to have a healthy state of mind, characterized by self-control, moderation, knowledge and balance with a deep awareness of one’s true self, resulting in true happiness. Sophrosyne is simply living simply, knowing the difference between wants and need. It can also be reflected in the two most famous saying by the philosopher Plato; “Know thy self” and “Nothing in excess.”
Spending too much on wants is a money mistake seen in the poor and middle class. Most people chase wealth as an excuse to live in excess. They display their insecurities in lavish homes and cars. These things aren’t wrong, but they shouldn’t be the driving force. Sophrosyne should not be confused with self-denial. Make a goal to set aside some money for a splurge in moderation.
To live Sophrosyne is to have a healthy state of mind, characterized by self-control, moderation, knowledge and balance with a deep awareness of one’s true self, resulting in true happiness. Sophrosyne is simply living simply, knowing the difference between wants and need. It can also be reflected in the two most famous saying by the philosopher Plato; “Know thy self” and “Nothing in excess.”
Spending too much on wants is a money mistake seen in the poor and middle class. Most people chase wealth as an excuse to live in excess. They display their insecurities in lavish homes and cars. These things aren’t wrong, but they shouldn’t be the driving force. Sophrosyne should not be confused with self-denial. Make a goal to set aside some money for a splurge in moderation.
4. They don't pay themselves first
When trying to create monetary wealth, the obvious first step is to create a budget. However, most people don't truly understand how to write and follow a budget that will create wealth. Most people create a budget either by calculating how much they need to pay for all their needs, wants and bills and still make it to next month, or, they figure out how much money they have to spend that month and budget to spend it all on their bills, needs and wants.
This budget ensures survival, not wealth. To really get ahead you have to create a budget that pays you before it even considers paying a bill or buying a want. You must then pretend that money doesn’t exist. It’s not vacation money or new car money. This is your nest egg and you are going to have to sit on it awhile and watch it grow before it is ready to hatch.
5. They don't take risks
So, you have saved a hefty sum and your nest egg is ready to hatch. This is where you are going to have to be very strategic in trying to turn your rainy day savings into a stockpile you could retire on. While saving and not overspending are good habits to have, they can become money mistakes if you don't eventually put your money to work for you.
Any great capitalist will tell you that the key to creating great wealth is being willing to take a risk. Men like Vanderbilt, Rockefeller and Carnegie are perfect examples of risk-takers. They saw the possibility of a need and even though they knew it came with great risk, they had the vision to know that the reward was greater. These men were driven by a resolution greater than money. For them, creating wealth meant creating a legacy. Money was only a consequence of the actions they took in the pursuit of purpose and passion.
Any investment you make is going to be a risk. However, you can offset some of that risk by learning and gaining knowledge.
“Risk comes from not knowing what you are doing” – Warren Buffett.
6. They don't understand the value of a reputation.
The dynamics of commerce in our culture today is quickly changing and the wealthy are quickly beginning to realize that your reputation and integrity is legal tender. Gone are the days of stomping on the little guy or back stabbing people on your way to the top. This old way of thinking is a big money mistake.
In today's online world, individuals and Businesses rely on reviews and rating when choosing a product or service. When people want to know about the services you provide, they automatically take to the internet to find out what people say about you. In this sense, your reputation is legal tender. One bad review could mean ten lost customers.
Two bad reviews could mean twenty lost customers, etc. This means you have to consciously work to develop and sustain good relationships if you want your business or brand to succeed. While you must focus on your daily task to deliver quality products, do not forget that people will go where they feel the most valued. Take some time to build great reviews for your brand or business. Also take the time to work on mending broken relationships.
7. They don't know how to delegate.
Many people open businesses to make money and be rich. However they never learn how to delegate work. This mistake can tend to be very costly. The wealth that is the freedom of owning your own business is replaced with the stress of thinking that the business cannot run well or smoothly without you.
This way of thinking will ensure that you burn out from stress. Do not confuse delegating work with micromanaging your employees. You must be able to trust their abilities to lead. Find out what the passions of your team are and see if there are any problems within the business that they are inspired to take action and lead change. This system helps you delegate work without ever having to delegate it. You will begin to see more work being done and accomplished around you.
If not addressed, the sum of these mistakes will begin to add up in cost. Take this moment to reflect on your perceptions .Are you on a path to wealth, or have you just trying to be rich.
“The joy and fulfillment found in the process of achieving your dreams and living with passion is often confused with the result of being rich. Do not measure your life’s journey to success with the fickle accompaniment of monetary and riches. Your journey should be measured by the memories gathered, not the receipts; the moments spent in passion, not cash; and happiness shared, not bought.”
http://www.lifehack.org/
Quote for the day
"What is the difference between an obstacle and an opportunity? Our attitude toward it. Every opportunity has a difficulty, and every difficulty has an opportunity." - J. Sidlow Baxter
Friday, 21 August 2015
Quote for the day
“The best trades are the ones in which you have all three things going for you: fundamentals, technicals, and market tone. First, the fundamentals should suggest that there is an imbalance of supply and demand, which could result in a major move. Second, the chart must show that the market is moving in the direction that the fundamentals suggest. Third, when news comes out, the market should act in a way that reflects the right psychological tone.” - Michael Marcus
Thursday, 20 August 2015
Quote for the day
“Stability breeds instability for several reasons - key amongst them is our inclination to look in the rear mirror for clues about the future. Portfolio managers, risk managers and regulators all tend to do so when looking for clues as to where the system is vulnerable.” - Niels Jensen
Wednesday, 19 August 2015
Quote for the day
“There was no shortage of terror and despair in the financial markets . . . It was all a bit reminiscent of the fable about the little boy who cried wolf. By the time one finally appeared, most people had lost their capacity to believe and be alarmed. ” - Louis Rukeyser
Tuesday, 18 August 2015
Quote for the day
“There is an art of seeing things as they are: without naming, without being caught in a network of words, without thinking interfering with perception.” - Jiddu Krishnamurti
Monday, 17 August 2015
Quote for the day
"Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give." - William Arthur Ward
Sunday, 16 August 2015
7 P’s Leaders use to Achieve Goals
A dream is just a dream. A goal is a dream with a plan and deadline. Ask yourself if what you are doing today is getting you closer to where you want to be tomorrow.
Here are my 7 P's to help you achieve your goals:
1. Purpose is the reason you journey.
3. Perseverance
4. Planning - Preparation - Positioning
4. People
5. Patience
6. Positive Thinking
1. Purpose is the reason you journey.
A purpose serves as a lighthouse. It gives instant focus and direction. A life without purpose is like a ship without a sail drifting aimlessly. Have a vision and mission statement. Ask yourself what's really important to you, what are you good at, and what you would like to have achieved when you look back at the end of your life?
"Efforts and courage are not enough without purpose and direction." - John F. Kennedy
2. Passion is the fire that lights your way
Thomas Edison failed more than 1,000 times when trying to create the light bulb. When asked about it, Edison allegedly said,"I have not failed 1,000 times. I have successfully discovered 1,000 ways to NOT make a light bulb."
3. Perseverance
Probably one of the greatest example of persistence is Abraham Lincoln. Lincoln was faced with defeat throughout his life. He lost eight elections, twice failed in business, his fiancee died. He suffered a nervous breakdown. However in 1860, he was elected the 16th President of the United States. Pain – Get accustom to rejection and failure and take it in good stride. Never take things personally and no pity–parties allowed.The road to success is not smooth.
“When you reach the end of your rope, tie a knot and hang on.”- Abraham Lincoln
4. Planning - Preparation - Positioning
Les Brown worked as an errand boy in a radio station. He often stayed in the control rooms and soaked up whatever he could until the deejays would ask him to leave. Then, back in his bedroom at night, he practised. One day while Les was at the station an opportunity presented itself and he was ready. He blew away the audience and the station manager.
“It's better to be prepared for an opportunity, and not have one than to have one and not be Prepared” - Les Brown
4. People
Invest and form meaningful relationships. Have a good supportive network of people you can really trust, who believe in you, are honest with you and will encourage you. Networking is key. The friendship between Henry Ford and Thomas Edison spanned more than 30 years. “Iron sharpens iron”. From their earliest meetings, they encouraged and inspired one another, often contributing to each other's work.
“If you want to be a lion, you must train with lions.” - Carlson Gracie
5. Patience
For everything there is a time and season.
“No matter how great the talent or efforts, some things just take time. You can't produce a baby in one month by getting nine women pregnant” - Warren Buffett
6. Positive Thinking
Always believe in yourself and have confidence in your abilities.
“Formulate and stamp indelibly on your mind a mental picture of yourself as succeeding. Hold this picture tenaciously. Never permit it to fade. Your mind will seek to develop the picture... Do not build up obstacles in your imagination.” ― Norman Vincent Peale.
7. Personal development
7. Personal development
Personal development is a vital part in a person’s growth and maturity. It is like how you nurture a plant. People give more importance to academic and professional achievement rather than personal growth. This has caused a lot of emotional struggles.
“Personal development is a major time-saver. The better you become, the less time it takes you to achieve your goals” -Brian Tracy
Pray - Just trust God and have Faith that all things work out for your good. Praise Him and be Thankful. Gratitude unlocks the fullness of life. It turns what we have into enough, and more. Never underestimate the power of prayer.
Pray - Just trust God and have Faith that all things work out for your good. Praise Him and be Thankful. Gratitude unlocks the fullness of life. It turns what we have into enough, and more. Never underestimate the power of prayer.
“Every time I have had a breakthrough in my life, it has been because of Prayer” - John Maxwell
I really appreciate that you are taking the time to read this post.
I really appreciate that you are taking the time to read this post.
Ms. Brigette Hyacinth - Director at MBA Caribbean Organization
https://www.linkedin.com/pulse/7-ps-achieving-your-goals-brigette-hyacinth
Quote for the day
"Do not talk about giftedness, inborn talents! One can name great men of all kinds who were very little gifted. They acquired greatness, became “geniuses” (as we put it), through qualities the lack of which no one who knew what they were would boast of: they all possessed that seriousness of the efficient workman which first learns to construct the parts properly before it ventures to fashion a great whole; they allowed themselves time for it, because they took more pleasure in making the little, secondary things well than in the effect of a dazzling whole." - Friedrich Nietzsche
Saturday, 15 August 2015
7 Lessons About Money From the World's Richest People
By John Rampton
The rich folks in the world think and act differently than everyone else. The thing is, a lot of the wealthiest people not only had to earn their wealth, but now they also have to add to it and maintain it. If you ever wanted to know how they achieved that sort of financial success, you have to start with what the rich know about money.
Here are seven things that the world’s richest people know about money.
1. Money equals freedom.
Kevin O'Leary, the successful Canadian businessman and investor on Shark Tank, once said that "Money equals freedom.” That’s something that the rich realize. While money can’t buy freedom, having enough money to not only meet your basic needs, like food or shelter, it gives you the freedom to choose what you want to do, when you want to do it.
Tired of your boss or job? You'll have the freedom to quit, if you want, which makes any job more palatable. Want to plan a vacation to Hawaii? No problem, you are personally choosing your hours and how early or late you will work. Want to launch a new business venture? You have the means and networking contacts to pursue this dream. What happens when you get sick? You can afford the best doctors and medical care.
2. Look for investments every day.
The rich are always thinking about the future, which is why they are constantly on the lookout for new investment opportunities in everyday life. Whether it’s their teenager informing them about the latest social media platform or finding a new food item in the grocery store, the rich how to spot ways to increase their wealth, no matter where they are. They always listen, even if they don’t like what they are hearing about an investment.
3. Stay away from complex investments.
The rich know to stay away from complex investments like hedge funds and mortgage-backed securities. Why? Because these types of investments present a number of problems that include not having any control about the risks involved. The rich stay aware of getting hit with expensive fees, and these type of investments are usually sold to investors who don’t understand them. If the rich don't understand the investment, they don't buy it.
4. Not spending is the same as making money.
This doesn’t mean that you always have to cut back or become a penny pincher. It means that if you make sacrifices in one area, you can use that money for an investment. For example, if you’re flying from New York to Chicago and a first class plane ticket costs more than $3,000, do you think that you could take a seat in business class because it’s $1,000 less? In a way, you may have just earned $1,000, which could be used for acquiring assets that bring in additional funds. Money working by itself is money you don't have to earn again.
5. Invest in appreciating assets.
The rich keep their wealth by not wasting all of their funds on items like clothing and vehicles. Instead, they wisely invest in appreciating assets. Tatiana Morales defines appreciating assets on CBS as “Assets that have the potential to increase in value and/or produce income.” This include liquid assets like cash, investments like stocks and bonds, and property.
6. Don’t put all your eggs in one basket.
The wealthy never put all of their money into one or two stocks. As Investopedia clearly states, “it is foolish to invest all your money in one investment.” That’s why it’s important to have a diversified portfolio that includes a variety of investments, stocks, bonds and mutual funds. Your portfolio could also include business investments, real estate and collectibles.
Remember, diversification isn’t just investing in different companies. It’s investing in different types of companies. For example, you wouldn’t invest your money in four different fast food companies. You would invest in one fast food company and the rest in companies in the oil, retail or tech industries. If something fails, you are still protected with your other investments.
7. Net worth isn't self-worth.
The rich are well aware that money can’t buy you love, respect, friends or happiness. They realize that their self-worth can’t be measured by their financial success. As author Ken Solin points out in the Huffington Post, who do you think has more self-worth? The isolated man with a billion dollars in his bank account or the man who listens to his wife, spends quality time with his children, has authentic friendships and is a volunteer?
The rich folks in the world think and act differently than everyone else. The thing is, a lot of the wealthiest people not only had to earn their wealth, but now they also have to add to it and maintain it. If you ever wanted to know how they achieved that sort of financial success, you have to start with what the rich know about money.
Here are seven things that the world’s richest people know about money.
1. Money equals freedom.
Kevin O'Leary, the successful Canadian businessman and investor on Shark Tank, once said that "Money equals freedom.” That’s something that the rich realize. While money can’t buy freedom, having enough money to not only meet your basic needs, like food or shelter, it gives you the freedom to choose what you want to do, when you want to do it.
Tired of your boss or job? You'll have the freedom to quit, if you want, which makes any job more palatable. Want to plan a vacation to Hawaii? No problem, you are personally choosing your hours and how early or late you will work. Want to launch a new business venture? You have the means and networking contacts to pursue this dream. What happens when you get sick? You can afford the best doctors and medical care.
2. Look for investments every day.
The rich are always thinking about the future, which is why they are constantly on the lookout for new investment opportunities in everyday life. Whether it’s their teenager informing them about the latest social media platform or finding a new food item in the grocery store, the rich how to spot ways to increase their wealth, no matter where they are. They always listen, even if they don’t like what they are hearing about an investment.
3. Stay away from complex investments.
The rich know to stay away from complex investments like hedge funds and mortgage-backed securities. Why? Because these types of investments present a number of problems that include not having any control about the risks involved. The rich stay aware of getting hit with expensive fees, and these type of investments are usually sold to investors who don’t understand them. If the rich don't understand the investment, they don't buy it.
4. Not spending is the same as making money.
This doesn’t mean that you always have to cut back or become a penny pincher. It means that if you make sacrifices in one area, you can use that money for an investment. For example, if you’re flying from New York to Chicago and a first class plane ticket costs more than $3,000, do you think that you could take a seat in business class because it’s $1,000 less? In a way, you may have just earned $1,000, which could be used for acquiring assets that bring in additional funds. Money working by itself is money you don't have to earn again.
5. Invest in appreciating assets.
The rich keep their wealth by not wasting all of their funds on items like clothing and vehicles. Instead, they wisely invest in appreciating assets. Tatiana Morales defines appreciating assets on CBS as “Assets that have the potential to increase in value and/or produce income.” This include liquid assets like cash, investments like stocks and bonds, and property.
6. Don’t put all your eggs in one basket.
The wealthy never put all of their money into one or two stocks. As Investopedia clearly states, “it is foolish to invest all your money in one investment.” That’s why it’s important to have a diversified portfolio that includes a variety of investments, stocks, bonds and mutual funds. Your portfolio could also include business investments, real estate and collectibles.
Remember, diversification isn’t just investing in different companies. It’s investing in different types of companies. For example, you wouldn’t invest your money in four different fast food companies. You would invest in one fast food company and the rest in companies in the oil, retail or tech industries. If something fails, you are still protected with your other investments.
7. Net worth isn't self-worth.
The rich are well aware that money can’t buy you love, respect, friends or happiness. They realize that their self-worth can’t be measured by their financial success. As author Ken Solin points out in the Huffington Post, who do you think has more self-worth? The isolated man with a billion dollars in his bank account or the man who listens to his wife, spends quality time with his children, has authentic friendships and is a volunteer?
Source: http://www.entrepreneur.com/
Quote for the day
“If you ask five experts where to invest, there will be six answers; the five expert opinions, plus the right one.” - Jonathon Clements
Friday, 14 August 2015
The Google Product Murders
Believe it or not, not everything Google touches turns to gold. Here are the products that populate the Google graveyard with a few predictions for the future.
Source: http://www.visualistan.com/
Quote for the day
“It is a happy coincidence that when nature gives us true burning desires, she also gives us the means to satisfy them. Those who want to win and lack skill can get someone with skill to help them.” - Ed Seykota
Thursday, 13 August 2015
Quote for the day
“Difference between great traders and the rest isn’t magic entry points, instead they’re better risk managers and better at position management.” – Richard Weissman
Wednesday, 12 August 2015
Quote for the day
“Anyone taken as an individual is tolerably sensible and reasonable — as a member of a crowd, he at once becomes a blockhead.” - Friedrich Schille
Tuesday, 11 August 2015
Quote for the day
“Seeing things in their right relation to each other is the highest vision.” - Dickson G. Watts
Monday, 10 August 2015
Quote for the day
“All things are subject to interpretation... whichever interpretation prevails at a given time is a function of power and not truth.” - Friedrich Nietzsche
Sunday, 9 August 2015
20 Common Money Mistakes To Avoid
Ever wonder where all your money goes right after payday? Spending money is way too easy. It is so easy that it makes saving it look extremely hard! It is very simple to save money though it isn't something that happens over night, you need to work on changing a few habits. There are several steps you can take to help you along the way on the road to financial success. You don’t need to be a mathematician to sit down and take an hour to analyse your spending and income to create a budget.
You can start by stepping back and going over your bank statements, or have an app categorize them for you. Divide them up into sections such as fast food, bank fees, bills, etc. When you actually take a look at what you spend and have an actual dollar amount on things, it will open your eyes. After you have seen where you spend your money, it would be best to set a budget.
To set a budget, you need to compare how much you are spending and how much you actually make. Set money aside to take care of yourself and your well-being first. This will include expenses like your bills (food, utilities, rent) and putting money aside in a retirement fund. From there make sure you give yourself an allowance because, well, living frugally is not fun.
After you have set some money aside for your well being, your fun money fund, and your savings, you need to make sure that you are thinking about your debt to income ratio. Take a look at all what you owe everyone and how much time and money it will take to pay them back. A majority of these expenses are going to be credit card companies and student/bank loans. The sooner you pay it off the better it will look in your bank account and also on your credit report. Don’t pretend that credit isn't something that affects you, it affects everyone. So don't cancel all your credit cards once you pay them off, keep them open. An open line of unused credit looks good if you are looking to buy a house or a car in the near future. Saving for the down payment and the interest will be a lot better.
Some of you are thinking that the Fun Money Fund (FMF) is a little ridiculous, but it is necessary! You want to make saving easier so that you will keep doing it. You have lived off an allowance before for things that aren't a necessity (most of the time it was no more than twenty dollars here and there) and you can do it as an adult. Want your FMF to grow? Pay off more of your debt and you will have a little wiggle room. Seventy five percent of that monthly payment to unnecessary bills and services could be going to other areas that need to be paid off, and the other twenty five percent of it can go into your FMF!
You may be thinking, where can I get the extra money from to pay the rest of my bills? The answer is in cutting back spending in your daily habits. Here are some common money mistakes people make everyday. See if any of them sound familiar:
01. You keep putting off paying off your credit card debt
02. You don't have a savings account for emergencies
03. You go grocery shopping when you're hungry
04. You enjoy frequent shopping for retail therapy
05. You don't maintain an allowance for fun spending
06. You don't define the difference between want vs. need
07. You never read fine print
08. You're always trying to keep up with trends and fashions
09. You'd consider going into debt for a wedding
10. You prefer to buy a meal instead of preparing it
11. You haven't made a plan before taking out a student loan
12. You don't think you need to have a budget
13. You haven't been paying attention to your credit score
14. You buy items based on the price and not the quality
15. You spend more than you make
16. You want to get a larger house and mortgage than you need
17. You are dependent on one source of income
18. You’re not saving for retirement
19. You replace things that aren't broken
20. You're not paying attention to your debt to income ratio
http://www.lifehack.org/
You can start by stepping back and going over your bank statements, or have an app categorize them for you. Divide them up into sections such as fast food, bank fees, bills, etc. When you actually take a look at what you spend and have an actual dollar amount on things, it will open your eyes. After you have seen where you spend your money, it would be best to set a budget.
To set a budget, you need to compare how much you are spending and how much you actually make. Set money aside to take care of yourself and your well-being first. This will include expenses like your bills (food, utilities, rent) and putting money aside in a retirement fund. From there make sure you give yourself an allowance because, well, living frugally is not fun.
After you have set some money aside for your well being, your fun money fund, and your savings, you need to make sure that you are thinking about your debt to income ratio. Take a look at all what you owe everyone and how much time and money it will take to pay them back. A majority of these expenses are going to be credit card companies and student/bank loans. The sooner you pay it off the better it will look in your bank account and also on your credit report. Don’t pretend that credit isn't something that affects you, it affects everyone. So don't cancel all your credit cards once you pay them off, keep them open. An open line of unused credit looks good if you are looking to buy a house or a car in the near future. Saving for the down payment and the interest will be a lot better.
Some of you are thinking that the Fun Money Fund (FMF) is a little ridiculous, but it is necessary! You want to make saving easier so that you will keep doing it. You have lived off an allowance before for things that aren't a necessity (most of the time it was no more than twenty dollars here and there) and you can do it as an adult. Want your FMF to grow? Pay off more of your debt and you will have a little wiggle room. Seventy five percent of that monthly payment to unnecessary bills and services could be going to other areas that need to be paid off, and the other twenty five percent of it can go into your FMF!
You may be thinking, where can I get the extra money from to pay the rest of my bills? The answer is in cutting back spending in your daily habits. Here are some common money mistakes people make everyday. See if any of them sound familiar:
01. You keep putting off paying off your credit card debt
02. You don't have a savings account for emergencies
03. You go grocery shopping when you're hungry
04. You enjoy frequent shopping for retail therapy
05. You don't maintain an allowance for fun spending
06. You don't define the difference between want vs. need
07. You never read fine print
08. You're always trying to keep up with trends and fashions
09. You'd consider going into debt for a wedding
10. You prefer to buy a meal instead of preparing it
11. You haven't made a plan before taking out a student loan
12. You don't think you need to have a budget
13. You haven't been paying attention to your credit score
14. You buy items based on the price and not the quality
15. You spend more than you make
16. You want to get a larger house and mortgage than you need
17. You are dependent on one source of income
18. You’re not saving for retirement
19. You replace things that aren't broken
20. You're not paying attention to your debt to income ratio
http://www.lifehack.org/
Quote for the day
“Long wave forces are very powerful and operate slowly over time, making them hard to recognize by most people. The long wave is like the tide in the ocean, powerful and operating below the surface.” - Tony Boekh
Saturday, 8 August 2015
2015 Country Stock Market Returns
Below is a look at the YTD performance through July for the main stock market indices of 74 countries around the world. The average YTD change for the countries listed below is 6.75%. Hungary and Denmark have posted the strongest gains at 35%+. Italy is up the most of the G7 countries with a gain of 23.8%, followed by France (18.95%) and Japan (17.96%). The U.S., Britain and Canada have performed the worst of the G7 in 2015. Both the U.S. and Britain have posted marginal gains, while Canada is one of the few countries that’s in the red.
Looking at the BRICs, you may find it hard to believe given its recent crash that China is up the most with a YTD gain of 13%. Russia is up 8.6%, while India and Brazil are up roughly 2%.
On the downside, Kenya, Colombia and Nigeria are down the most with losses of 13%. Overall, performance across the globe has been strong when looking at full-year returns, even though we’ve seen a lot of weakness recently. We’ll post these results again at the end of the third quarter to see where things stand heading into the final three months of the year.
Source: www.bespokepremium.com
Looking at the BRICs, you may find it hard to believe given its recent crash that China is up the most with a YTD gain of 13%. Russia is up 8.6%, while India and Brazil are up roughly 2%.
On the downside, Kenya, Colombia and Nigeria are down the most with losses of 13%. Overall, performance across the globe has been strong when looking at full-year returns, even though we’ve seen a lot of weakness recently. We’ll post these results again at the end of the third quarter to see where things stand heading into the final three months of the year.
22 Dos and Don’ts of Rich People
Rich people are controversial and interesting to talk about. Not necessarily because of the money they earn, but the fact that they are able to create a dream lifestyle achieving more freedom and time for their family, passions, and dreams.
Getting rich doesn't happen by accident. There are some external factors that influence the process; however, the dos and don't s in everyday life play a significant role.
Wealthy individuals tend to have many things in common. Here are 20 of them.
To come closer to their goals, rich people spend time creating to-do lists and maintaining them every day. Whatever you want to accomplish, there’s a certain amount of tasks you need to do in order to get there. This is what a rich person makes sure to determine. With that knowledge, they commit to work on it day after day, with no excuses.
To fully focus on their ambitions, they need functional and efficient bodies. Through a healthy diet, regular exercises and treating the body as a temple, they accelerate the progress, stay in shape, avoid laziness and separate themselves from the crowd.
4. They read daily and they love it.
Rich people don’t only feed themselves with healthy food, but they also feed their minds with wisdom and information. Almost 90% of rich questionnaires agreed they love reading. Mostly, it’s self-improvement books and non fiction, which serve as a great source of inspiration and knowledge.
Instead of blasting pop music while being on the road, rich people listen to audiobooks so the mind is always in the mood for achieving extraordinary results. Let’s say you spend an hour a day in traffic. If you devote it to audiobooks or podcasts, that’s 365 extra hours of self-improvement time in a year.
6. They are the hardest workers in the room.
When asked for the secrets of success, Dwayne Johnson, a man who went from poverty to Hollywood, said there’s no secret sauce. It’s always being the hardest worker in the room which brings you one step closer to making your dreams a reality.
8. They respect their time and spend it wisely.
In a world full of distractions, it’s easy to lose track of your time. It’s something rich people never let happen. They realize, once wasted, the time is gone forever; that’s why it’s such a precious resource for them.
9. They surround themselves with like-minded people.
“You are the average of the five people you spend the most time with.” - Jim Rohn
Letting naysayers influence your thoughts, actions and bring you down is out of the question for a wealthy person. To protect themselves from negative people, they make sure their surroundings motivate them to further growth.
10. They pay attention to their habits.
Your habits form who you become. If you eat junk, practice negative talking and spend your time mindlessly, there’s likely no bright future ahead of you. Wealthy individuals select their habits carefully so that they only practice ones that contribute value to their lives.
11. They learn how the world of finances functions.
Nowadays, the right financial knowledge is the key to survive without getting lost in debt and other financial commitments. Rich people devote time to become the financial experts, so in the end, their money works for them and not vice versa.
To radically improve your personal finances, check out this 14-day plan.
12. They don’t believe in financial luck.
Money is made through hard work combined with creativity, market-research, and other factors, but pure lack is definitely not among the most important ones. That’s why wealthy person avoids lotteries and gambling. They still take financial risks, but they are calculated.
13. They don’t spend more than they earn.
If you make $1,000,000 and you spend the same amount, you are still broke. Poor people tend to spend more than they make which is caused by short-term thinking. Wealthy people can extend the gratification in order to stay financially stable and make the future safe.
14. They don’t watch TV.
Television is a huge time-sucker with almost no value added to your life. It leads to a sedentary lifestyle, obesity and increases your chances of type 2 diabetes. Since rich people eliminate bad habits; they make sure to replace TV with more creative sources of entertainment like books.
15. They don’t give anyone responsibility for their lives.
“We are made wise not by the recollection of our past, but by the responsibility for our future.” - George Bernard
People who can’t achieve anything significant in their lives tend to avoid the responsibility for their future. There’s always some external factor to blame. On the contrary are achievers, who always take the blame and learn from their mistakes.
16. They don’t follow the flow.
To ensure they squeeze as much as possible from what life throws at them, rich people put themselves in the right place at the right time. They realize some chances are game-changing experiences.
18. They don’t rely on formal education.
Wealthy individuals are life-long learners. They treat self-growth as a never-ending process and they fully enjoy it. Cultivating the mind is achieved through a broad variety of experiences in contrast to relying completely on the schooling system.
19. They don’t let negative thoughts influence their actions.
Negative thinking is especially dangerous when you decide to believe in the excuses and rationalizations. Your brain wants you to stay in the comfort zone, so it will spare no effort to convince you that you can’t. The key to success is to let these thoughts fade away and replace them with powerful reasons to believe in yourself.
20. They don’t say yes all the time.
Saying no at the right moment is a powerful skill which brings health, wealth and happiness. One the other hand, if you practice saying yes way too often, you are more likely to get off the track and waste your time on unnecessary commitments.
Rich people know there are plenty of things you don’t need to say yes to.
21. They don’t focus entirely on the money.
Oppose to misconceptions, money isn't what matters the most one the road to getting rich. Using their capital and influence, wealthy individuals want to change the world for better, contribute to the society and simply experience the life like most people can’t.
Bill Gates is once again the wealthiest person on the planet. But he’s also one of the most generous people. He gives back a lot of his money and he decided to donate the majority of his wealth to philanthropic causes when he dies.
22. They don't give up.
Getting rich isn't an overnight process. It takes a lot of time and effort to go through the path full of obstacles and failures to finally meet your goals. The key is to stay persistent, practice self-belief and never give up.
http://www.lifehack.org/
Getting rich doesn't happen by accident. There are some external factors that influence the process; however, the dos and don't s in everyday life play a significant role.
Wealthy individuals tend to have many things in common. Here are 20 of them.
1. They set achievable and specific goals.
More than 60% of rich people who took part in a research agreed that they focus on their goals on a daily basis. What’s more, the goals they set themselves are achievable through specific physical actions, so they know exactly what separates them from achieving it.
2. They create to-do lists and review them daily.
To come closer to their goals, rich people spend time creating to-do lists and maintaining them every day. Whatever you want to accomplish, there’s a certain amount of tasks you need to do in order to get there. This is what a rich person makes sure to determine. With that knowledge, they commit to work on it day after day, with no excuses.
3. They take care of their bodies.
To fully focus on their ambitions, they need functional and efficient bodies. Through a healthy diet, regular exercises and treating the body as a temple, they accelerate the progress, stay in shape, avoid laziness and separate themselves from the crowd.
4. They read daily and they love it.
Rich people don’t only feed themselves with healthy food, but they also feed their minds with wisdom and information. Almost 90% of rich questionnaires agreed they love reading. Mostly, it’s self-improvement books and non fiction, which serve as a great source of inspiration and knowledge.
5. They listen to audiobooks while commuting.
Instead of blasting pop music while being on the road, rich people listen to audiobooks so the mind is always in the mood for achieving extraordinary results. Let’s say you spend an hour a day in traffic. If you devote it to audiobooks or podcasts, that’s 365 extra hours of self-improvement time in a year.
6. They are the hardest workers in the room.
When asked for the secrets of success, Dwayne Johnson, a man who went from poverty to Hollywood, said there’s no secret sauce. It’s always being the hardest worker in the room which brings you one step closer to making your dreams a reality.
7. They make family life a priority.
A rich person knows best what money can and cannot buy. That’s why they give so much value to the family time, something which they consider priceless. They realize whereas money can always be made, there’s a limited amount of time they can spend with their families. That’s why they make it a priority.
A rich person knows best what money can and cannot buy. That’s why they give so much value to the family time, something which they consider priceless. They realize whereas money can always be made, there’s a limited amount of time they can spend with their families. That’s why they make it a priority.
8. They respect their time and spend it wisely.
In a world full of distractions, it’s easy to lose track of your time. It’s something rich people never let happen. They realize, once wasted, the time is gone forever; that’s why it’s such a precious resource for them.
9. They surround themselves with like-minded people.
“You are the average of the five people you spend the most time with.” - Jim Rohn
Letting naysayers influence your thoughts, actions and bring you down is out of the question for a wealthy person. To protect themselves from negative people, they make sure their surroundings motivate them to further growth.
10. They pay attention to their habits.
Your habits form who you become. If you eat junk, practice negative talking and spend your time mindlessly, there’s likely no bright future ahead of you. Wealthy individuals select their habits carefully so that they only practice ones that contribute value to their lives.
11. They learn how the world of finances functions.
Nowadays, the right financial knowledge is the key to survive without getting lost in debt and other financial commitments. Rich people devote time to become the financial experts, so in the end, their money works for them and not vice versa.
To radically improve your personal finances, check out this 14-day plan.
12. They don’t believe in financial luck.
Money is made through hard work combined with creativity, market-research, and other factors, but pure lack is definitely not among the most important ones. That’s why wealthy person avoids lotteries and gambling. They still take financial risks, but they are calculated.
13. They don’t spend more than they earn.
If you make $1,000,000 and you spend the same amount, you are still broke. Poor people tend to spend more than they make which is caused by short-term thinking. Wealthy people can extend the gratification in order to stay financially stable and make the future safe.
14. They don’t watch TV.
Television is a huge time-sucker with almost no value added to your life. It leads to a sedentary lifestyle, obesity and increases your chances of type 2 diabetes. Since rich people eliminate bad habits; they make sure to replace TV with more creative sources of entertainment like books.
15. They don’t give anyone responsibility for their lives.
“We are made wise not by the recollection of our past, but by the responsibility for our future.” - George Bernard
People who can’t achieve anything significant in their lives tend to avoid the responsibility for their future. There’s always some external factor to blame. On the contrary are achievers, who always take the blame and learn from their mistakes.
16. They don’t follow the flow.
Thinking differently is mandatory. There’s no way to achieve extraordinary results through regular actions and ordinary thinking. Rich people aren't afraid to dream big and break the rules and dogmas to accomplish something.
17. They don’t miss opportunities.
To ensure they squeeze as much as possible from what life throws at them, rich people put themselves in the right place at the right time. They realize some chances are game-changing experiences.
18. They don’t rely on formal education.
Wealthy individuals are life-long learners. They treat self-growth as a never-ending process and they fully enjoy it. Cultivating the mind is achieved through a broad variety of experiences in contrast to relying completely on the schooling system.
19. They don’t let negative thoughts influence their actions.
Negative thinking is especially dangerous when you decide to believe in the excuses and rationalizations. Your brain wants you to stay in the comfort zone, so it will spare no effort to convince you that you can’t. The key to success is to let these thoughts fade away and replace them with powerful reasons to believe in yourself.
20. They don’t say yes all the time.
Saying no at the right moment is a powerful skill which brings health, wealth and happiness. One the other hand, if you practice saying yes way too often, you are more likely to get off the track and waste your time on unnecessary commitments.
Rich people know there are plenty of things you don’t need to say yes to.
21. They don’t focus entirely on the money.
Oppose to misconceptions, money isn't what matters the most one the road to getting rich. Using their capital and influence, wealthy individuals want to change the world for better, contribute to the society and simply experience the life like most people can’t.
Bill Gates is once again the wealthiest person on the planet. But he’s also one of the most generous people. He gives back a lot of his money and he decided to donate the majority of his wealth to philanthropic causes when he dies.
22. They don't give up.
Getting rich isn't an overnight process. It takes a lot of time and effort to go through the path full of obstacles and failures to finally meet your goals. The key is to stay persistent, practice self-belief and never give up.
http://www.lifehack.org/
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