Why I Stopped Writing about Finance..
On occasion I like to talk to my employees about money. Nothing too complicated, just simple things every grown adult person should have a handle on. Things like:
- Budgeting your money (not living check to check)
- Getting out of credit card debt
- Managing student loans
- Saving for your kids college education
and - Avoiding the pitfalls when investing.
Generally I see a lot of nodding, and "Wow thanks, that makes a lot of sense!" But upon follow up, not a lot of action.
Judging from the popularity of my posts and similar financial content on Steemit, I've come to one conclusion:
People DO NOT CARE about being Wealthy.
Why else would casinos, lottery tickets and ICO's be so popular?
Chances are, you know people who love playing fantasy football, or can't wait to bet their peers on the football game this weekend. Sports betting is a multi-billion dollar industry in America.
Or perhaps you might enjoy buying a lottery ticket? .....it's only a dollar, better buy 10 that'll increase your odds. In exchange for your money, you get to fantasize about the Gold plated mansion you're going to buy while you...
Oh wait you didn't win? Well maybe next time.
What do these things all have in common?
The desire to be RICH without actually having to do any WORK.
And there are many, many, multi-billion dollar businesses designed around SELLING you that dream.
Late night infomercials touting MLM business, just gotta buy $2000 dollars worth of sh*t inventory that no one would buy, if they weren't being harassed by their friends.
Do you have some inside information on the next Bitcoin? Sign me up! I'll put down a thousand... and fill my cup with hopium, because that appears to be the pre dominant strategy that my peers are employing.
You'd be better off saving the grand and spending it on valium and knee pads. (You can pray and have anxiety without blowing your savings.)
Draft Kings will give you the privilege of being entertained betting on your favorite players while you consistently give them money, what a deal!
Or perhaps you'd like to get rich in the Capital Markets trading securities, but don't have any actual trading skills. Then perhaps a trading robot is for you!
For an upfront fee, you can set up this robot that will consistently lose you money over time while enriching the broker (via the commissions), the guy that sold you this dream bot, and all the people on the other side of your trades.
Do you really think the guys that have market beating hft bots are selling them for $200 bucks online? Would you?
Look, I'm not trying to be a wet blanket here or anything but..
HOPE is not a strategy!
Logic, research, cash flow are excellent places to start.
Writing about that though, is the equivalent of saying:
"Eat your vegetables, you'll be better for it..."
Or: "Bitcoin is going to $50,000! Early adopters made money without working and you can too!"
Which article would you read? And you don't have to answer that, people have already answered with their clicks.
We want entertainment, excitement. Can't win, if you don't play right? (the slogan for the Lottery)
Look, if you want to speculate with a small portions of your funds, I have no problem. I do the same myself. But if you're doing it with a 100% of your funds, then you're just gambling.
I love this pic I got from @thebusinessman, because it perfectly embodies the mentality of 90% of the population.
If you're a young guy or gal, no worries. Sure I'd rather see you start saving and compounding your wealth now... but it's not the end of the world. If you have a family, COMPLETELY DIFFERENT story.
The secret to wealth is creating positive CASH FLOW.
Whether through business, real estate, dividends or what have you. This is where the majority of your funds should be put to work... MAKING YOU MORE MONEY.
Choose the Path Less Traveled.
Remember, at it's core all a start-up, MLM, or ICO is, is just a team that wants to turn their DREAM and your MONEY, into their MONEY and your DREAM.
If you're pinning your hopes (and your money) on getting rich quick, just know that there are lots of very profitable business' hoping for that same thing.
Until next time.
It's your move.
JESS
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Very good post and my observation as well. People are fucking lazy and they want quick money all the fucking time.
They say things they do not hold. Fake motherfuckers. Poor people really want to be lazy and they are stupid.
Me: "What will you do in general now?"
Person 2: "Study in a university"
Me: "Really? You are wasting your time"
Person 20: "..."
And from that day I am avoided hahaha.
They don't even have discipline, when I read what my ancestors did... they lived an entire winter season outside in the forest ALONE.
I feel like a pussy reading that and then I see people who can not even hold their words or do something to change their life.
Plebs.
True enough. It's said that were we ever to redistribute the wealth evenly between everyone on earth, within 10 years 1% would again control most of the wealth.
Not everyone wants to be exceptional. They say a fool and his money are soon parted, and it sounds like we both have run afoul of quite a few fools! lol
That's how it is.
What I don't understand is why they repeat the same mistakes again and again, this is the true mark of a fool.
But that does not matter.
Back to building the motherfucking empire.
Holy crap, that's intense! I suddenly feel the need to go do some deadlifts!
This is about more than just training, listen to the whole thing, you won't regret it.
Indeed, many just wants a get rich quick scheme. I never realized there were so many MLM schemes since i got into crypto. The promised rates of return should make any potential investors wary.
No kidding @ numpypython, my Uncle just asked me a week ago about my thoughts on a Forex trading MLM. I was all like "nooooooooo" lol
I supposed we all tend to pick the easier path, it is our natural instinct to do so. And those getting rich fast schemes are always tempting as their marketing skills are superb (some good points to learn).
I think you are right @kimzwarch, I was listening to a ted talk some time ago and the speaker was saying we are wired to avoid anything that might put us in danger. And that moving outside of our comfort zone and trying things we may potentially fail at, was some sort of evolutionary trait for survival. Better play it safe y'know?
I don't know if there's any merit to her talk, but something to consider. Her solution, was to take action in all things within 3 seconds. After that your brain talks you out of it.
Ya, here in the modern society, the risk of getting your life endangered is lesser compared to last time when we were not civilized back then. Yet, to balance it out and to persuade ourselves to take controlled risk is a training. Like myself, I will set the milestone and try to achieve that, at least with a reference point to persuade my brain.
Good point about the persuasion bit, I think that is why it is so key who you hang around. It influences our perception of what's risky and what's achievable. If everyone in your family is a doctor, that is your reality, and may even be expected of you.
However if you grow up poor and your family is uneducated, that can seem like such a pipe dream and not do able for someone like you.
Setting milestones is great, because achieving small steps are not so intimidating. Achieve enough milestones and you've hit your goal!
Yup, nice summing up. Following positive streemers and learn from each other, also part of the learning journey. 👍👍
Sad but true, I know a person who thinks winning the super Mega jackpot lottery is the way he will retire. Every week he spends $40 on tickets...
Ummm, maybe invest it or just save it and by the time the end of the year rolls around you'll have almost $2,100. May not seem like much, but by wasting money on lottery is not a get-rich way of life.
Ouch, I cringed reading that @goldendawne! (sweet name btw)
True story, I started off saving $50 a week, and increased this amount as I made money slowly over time. I'm 36 now, and time goes by so quickly it's amazing what some compounding can do to your wealth.
#life
Alice Walker:The most common way people give up their power is by thinking they don’t have any.Very true, most people do not try to attain wealth because they assume it is outside of their grasp, outside of luck. They've lost before they even start
That is a bot you are writing to.
Damn the machines, they're taking over!
They can have them, we are not a part of this fucked up society.