Jul
24
The Parable of Wealth
July 24, 2008 | Leave a Comment
A parable is a fable or short moral story. I came across this parable from a source unknown. It's a great way to explain why some people who appear wealthy really aren't and why some who appear poor are just the opposite.
The Fishermen
Mark and John are both fishermen in a small village. Mark and John [...]
Jun
30
How Wealthy People Spend Their Time
June 30, 2008 | 2 Comments
How do you think wealthy people spend their time? Do you think the rich play all day? You couldn't be more wrong.
The wealthy work. According to Nobel winner Daniel Kahneman, the wealthy enjoy much less leisure time than other people. In fact, Kahneman says that wealth and work are strongly related.
Shocking. I [...]
Jun
2
Get Rich Slowly – Richer Than Rockefeller
June 2, 2008 | Leave a Comment
I was perusing some of the personal finance blogs today and came across this little gem: Richer Than Rockefeller: Putting Wealth in Perspective. The author of this piece makes an excellent point.
If your household annual income is over $50,000, then you are in the top 1% richest in the world. (See for yourself [...]
Apr
4
Your FICO is Worthless
April 4, 2008 | 2 Comments
FICO scores don’t matter to wealthy people. I know, that sounds like heresy but it’s true. The truly wealthy (or those that will be wealthy someday) know that their credit scores (and credit bureaus) really don’t matter in the long run.
Wealthy People Don’t Worry About Credit Scores
A FICO score or any credit score [...]
Mar
24
Don’t Ask What Causes Poverty.
March 24, 2008 | 1 Comment
We are conditioned by society to view poverty as something that happens to people. Dr Madsen Pirie believes that wealth happens and that poverty is the default or “rest” state of humanity.
According to a post on adamsmith.org, Dr Pirie claims there are no causes of poverty. Simply that its the "default" option.
There [...]