Movie Monday with one of my favorite Authors, Chris Brady, on the value of forming good habits. How do you ensure that you are constantly forming good daily habits?
Monday, January 16, 2012
Wednesday, January 11, 2012
WW: Rich
Welcome to Word Wednesday again. This week we'll discuss the word Rich.
Many people want to be rich, by which they mean they want to have a lot of money. An interesting note is that while many people would like to have a lot of money, they both despise people who have much more than they do and consider themselves to not have much. What is a lot of money? It seems to always be more than what you have.
It turns out that the result people want and how they think they can get there are disconnected. Take lottery winners, for instance. People who receive large amounts of money, like lottery winners, have a tendency to get in more trouble financially, even though they have more money. Money doesn't solve their problems, it's how they think about money. This goes back to the thinking that money is an idea. Money just reveals your financial habits.
I find it interesting that anyone making 10x what you make is usually considered rich. If you compare the world average personal income or $7,000 per year to what you make, consider the other viewpoint. You are the rich. Yes there are a few who are the next 10x above you. When you compare yourself with the rest of the world, chances are you'll find that you are in the top 5% of the richest people in the world. The money your throw away on trivial things people works hours to earn.
So next time you consider the "rich," remember you are talking about yourself.
Who is wise? He that learns from everyone. Who is powerful? He that governs his passions. Who is rich? He that is content. Who is that? Nobody.
Benjamin Franklin
Many people want to be rich, by which they mean they want to have a lot of money. An interesting note is that while many people would like to have a lot of money, they both despise people who have much more than they do and consider themselves to not have much. What is a lot of money? It seems to always be more than what you have.
It turns out that the result people want and how they think they can get there are disconnected. Take lottery winners, for instance. People who receive large amounts of money, like lottery winners, have a tendency to get in more trouble financially, even though they have more money. Money doesn't solve their problems, it's how they think about money. This goes back to the thinking that money is an idea. Money just reveals your financial habits.
I find it interesting that anyone making 10x what you make is usually considered rich. If you compare the world average personal income or $7,000 per year to what you make, consider the other viewpoint. You are the rich. Yes there are a few who are the next 10x above you. When you compare yourself with the rest of the world, chances are you'll find that you are in the top 5% of the richest people in the world. The money your throw away on trivial things people works hours to earn.
So next time you consider the "rich," remember you are talking about yourself.
Who is wise? He that learns from everyone. Who is powerful? He that governs his passions. Who is rich? He that is content. Who is that? Nobody.
Benjamin Franklin
rich
adj \ˈrich\Definition of RICH
1
: having abundant possessions and especially material wealth
2
a : having high value or qualityb : well supplied or endowed <a city rich in traditions>
3
: magnificently impressive : sumptuous
4
a : vivid and deep in color <a rich red>b : full and mellow in tone and quality <a rich voice>c : having a strong fragrance <rich perfumes>
5
: highly productive or remunerative <a rich mine>
6
a : having abundant plant nutrients <rich soil>b : highly seasoned, fatty, oily, or sweet <rich foods>c : high in the combustible component <a rich fuel mixture>d : high in some component <cholesterol-rich foods>
7
a : entertaining; also : laughableb : meaningful, significant <rich allusions>c : lush <rich meadows>
8
: pure or nearly pure <rich lime>
— rich·ness noun
Monday, January 9, 2012
MM: Death Crawl
Movie Monday with a clip from one of my favorite movies. We can do so much more than we are currently doing. How do you make sure you are challenging yourself regularly? How do you keep from falling into the automatic?
Wednesday, January 4, 2012
WW: Money
Welcome to Word Wednesday. This weeks word is Money.
Most people look at a dollar bill in there pocket and think they have money. By many accounts they do. However, if you look at that dollar bill, it does not claim to be money, it claims to be a Federal Reserve Note, good for debts public and private.
Money is a funny thing. Many who lack money like to mis-quote the 1 Timothy 6:10 in the Holy Bible by saying that money is the root of all evil. Many people will work 100,000 hours for a company during their lifetime to get it. People think of money as paper and coins, however most of the money in the United States exists as 1's and 0's on computers.
Robert Kiyosaki, in his book Cash Flow Quadrant, states that money is just an idea. History seems to back this up. The United States was on the Gold Standard for quite a while, which means that you could exchange your Note (paper money) for a fixed amount of gold. It was an on again off again proposition until 1933 when the link was broken and it was even illegal for most Americans to even own gold for a while.
The thinking behind a Gold Standard is that gold has an intrinsic value. It is rare and valuable, which makes to a fairly good store of wealth. This also means that the government cannot change the value of the currency, but the market value of the gold sets the value. Since going off the Gold Standard in 1933, the United States dollar has been considered fiat money, or in other words, it's money because the government says it is.
To even further back the concept of money as just an idea, most of our money is digital. How many times do you actually use the fiat paper money anymore. We use the internet to setup direct transfers, bill pay and use credit and debit cards to transfer most of our money around.
We generally consider money as a means of exchanging value. Instead of the artist trying to exchange a painting directly for eggs, he can exchange is painting for something that holds value, money, and then later exchange that money for eggs. Money becomes a third-party to the transaction. As long as the value of the money is stable (doesn't change much), it becomes the equivalent of exchanging a painting directly for eggs, without having to find someone with extra eggs who wanted the painting.
The lack of money is the root of all evil.
Mark Twain
From Miriam-Webster dictionary:
Most people look at a dollar bill in there pocket and think they have money. By many accounts they do. However, if you look at that dollar bill, it does not claim to be money, it claims to be a Federal Reserve Note, good for debts public and private.
Money is a funny thing. Many who lack money like to mis-quote the 1 Timothy 6:10 in the Holy Bible by saying that money is the root of all evil. Many people will work 100,000 hours for a company during their lifetime to get it. People think of money as paper and coins, however most of the money in the United States exists as 1's and 0's on computers.
Robert Kiyosaki, in his book Cash Flow Quadrant, states that money is just an idea. History seems to back this up. The United States was on the Gold Standard for quite a while, which means that you could exchange your Note (paper money) for a fixed amount of gold. It was an on again off again proposition until 1933 when the link was broken and it was even illegal for most Americans to even own gold for a while.
The thinking behind a Gold Standard is that gold has an intrinsic value. It is rare and valuable, which makes to a fairly good store of wealth. This also means that the government cannot change the value of the currency, but the market value of the gold sets the value. Since going off the Gold Standard in 1933, the United States dollar has been considered fiat money, or in other words, it's money because the government says it is.
To even further back the concept of money as just an idea, most of our money is digital. How many times do you actually use the fiat paper money anymore. We use the internet to setup direct transfers, bill pay and use credit and debit cards to transfer most of our money around.
We generally consider money as a means of exchanging value. Instead of the artist trying to exchange a painting directly for eggs, he can exchange is painting for something that holds value, money, and then later exchange that money for eggs. Money becomes a third-party to the transaction. As long as the value of the money is stable (doesn't change much), it becomes the equivalent of exchanging a painting directly for eggs, without having to find someone with extra eggs who wanted the painting.
The lack of money is the root of all evil.
Mark Twain
From Miriam-Webster dictionary:
1mon·ey
noun, often attributive \ˈmə-nē\
plural moneys or mon·ies
Definition of MONEY
1
: something generally accepted as a medium of exchange, a measure of value, or a means of payment: asa : officially coined or stamped metal currencyb : money of accountc : paper money
2
3
: a form or denomination of coin or paper money
4
a : the first, second, and third place winners (as in a horse or dog race) —usually used in the phrases in the money orout of the moneyb : prize money <his horse took third money>
5
a : persons or interests possessing or controlling great wealthb : a position of wealth <born into money>
Monday, January 2, 2012
MM: Boom and Bust
It's Movie Monday. EconStories does some awesome videos. Here is one of my favoites: Fear the Boom and Bust. Keynes is standard in United States schools today. Have you looked into Hayek's economic theories? After studying both, what is your opinion on Hayek vs Keynes?
Wednesday, December 28, 2011
Word Wednesdays
In addition to Movie Mondays, I'll be posting Word Wednesdays. Once a week I'll post a snippet focused on one word. I'll post a definition, fun quote and whatever I can find to help clarify and expound on the word. Comments are very welcome.
Monday, December 26, 2011
Movie Mondays Starting in 2012
One of my favorite authors has been posting what he calls Movie Mondays to twitter. He posts clips, mainly that he's recorded. I liked his idea and decided I would find a movie clip to post every Monday in 2012. They may be short or long. They may be funny or thought provoking. However, these are clips that, if you watch every one of them, by the end of 2012, you will be affected for the better.
I am not producing a single one of these but am selecting them from people, ideas and topics from all over. They range in topics from politics to money to people skills to leadership. I do not claim to be an expert in any of these areas, but these videos have touched me or made me think. I also do not necessarily agree with everything in these clips. However, I chose them because they made me think or they made me feel.
I invite you on this journey of 52 video clips and challenge you to look in yourself for the best you. If you have a video clip you feel belongs on Movie Monday's, please let me know.
I am not producing a single one of these but am selecting them from people, ideas and topics from all over. They range in topics from politics to money to people skills to leadership. I do not claim to be an expert in any of these areas, but these videos have touched me or made me think. I also do not necessarily agree with everything in these clips. However, I chose them because they made me think or they made me feel.
I invite you on this journey of 52 video clips and challenge you to look in yourself for the best you. If you have a video clip you feel belongs on Movie Monday's, please let me know.
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