You have to make assumptions if you’re unsure about the future prospects of a company. Just because you assert some perpetual growth rate, doesn’t mean it’s going to play out as expected. Even a margin of safety is a “I’m too dumb to know” boundary.
Tag Archives: Net
Money…Money…Money…Money…
Most advice on money is the same.
1). Assessing your financial situation.
2). Creating a budget.
3). Paying down debt.
4). Avoiding lifestyle creep.
5). Cutting costs.
6). Increasing income through side hustles or starting a business.
7). Saving & investing the difference after paying expenses.
There are small details that are always left out, or misinterpreted. One of those being in the world of “investing the difference”. Investing in what exactly? The difference between what and what? Typically we get our gross income, pay taxes and dues appropriately, after creating value or fulfilling a need via our profession.
Whatever is left after that is of course net income. After Net income is assessed, we pay bills. After bills are paid, we either have something left or nothing at all. This “something left” or “nothing at all” is the difference that is to be invested or not. From there, you are hit with a vast array of investment options, strategies and possibilities.
Deciding what the best approach is, could take years. Since most people typically don’t want to take the time to learn they skip over a lot of important stuff, and freak out whenever they see their portfolio is down 20%, 30% or worse. Since some just cannot take it they may sell their stocks, bonds and ETF’s or mutual funds. Others just put money in consistently without knowing exactly what they’re paying for. This is a part of the reason we still have a lack of financial literacy within certain communities. Of course other reasons are, the images and lifestyle we see via social media, and or in the world of entertainment.
Blindly investing in the stock market is not the best way for us to build & sustain wealth over time. Social media, is just that. Media made to be social on. Educating yourself on how the wealthy are investing, building and sustaining their wealth is what needs to be studied. Not looking at the fancy stuff.
This post was pretty choppy and all over the place, however I hope there were some key takeaways for you. Final thoughts: you probably wouldn’t cross the street with your eyes closed, so it doesn’t make sense to invest money into the stock market without understanding how markets works and what businesses you’re buying every month or whenever your strategy calls for you to deploy capital. Maybe I’ll follow this post up by breaking down each of the 7 “tips” you always find on how to be better with money. Maybe not. See you tomorrow.
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The privilege is unreal.
It’s amazing to me how privileged we are to live in the United States Of America. If your car breaks down, and you have AAA service, you can call to have someone tow your car and take you to a repair shop of your choice. From there you can use your phone to call a Lyft or Uber driver to take you to a car rental business. From that car rental company you can pick out whatever car they have available, and rent it for as long as you need, until your car is fixed and running again. All of this, while not having to miss a day of work or business meetings etc.
We really have zero excuses to make when living like this. There are safety nets everywhere, which can be just as dangerous as beneficial. Still, we must put the work in to get to whatever life we want to live, rental cars or not.
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Forever-net.
Being on the internet everyday is such a headache. There is an endless amount of content being created and endless advertisements to dodge. Some days it feel like one giant commercial on a television that can’t be turned off. On top of that it convinces users to continue flooding strangers with what they like and what they think, and what’s funny. People argue back and forth, and debate about who’s the best in various industries.
We show off what we eat and where we go. Meanwhile, real life goes on day to day and most of the time is nothin like what the internet portrays. I don’t know where I’m going with this, so I’ll just say, I’m exhausted and not sure how to move forward without being deeply impacted by the use or nonuse of the internet. Either way this post will get swept under the rug like the rest of the web.
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Network. Net worth.
It’s hard to get anywhere in life without a broad network. Opening yourself up to others, and showcasing your skills and abilities can only create more opportunities if done consistently. I use to live by this. Seems like I’ve become a bit of a crab. Hiding is not going to allow me or my family to flourish in any way shape or form. I have to get back to the basics and be open. As the saying goes, “closed mouths don’t get fed.”
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Network really your networth?
You always here people say your network is your networth.
I have to agree to disagree because some at a lpwer level there might be a kid that is extremely good at saving money, but so weird that he barely has any friends.
What do we say about a “unique” (nothing is that unique anymore) situation like that?
Of course to increase your networth you moght have to start reaching out and adding new contacts to your list so maybe it’s inevitable that your network is your networth.
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Be confident in all that you do
Confidence breeds likability. Likability is the key to networking. Networking is what will gain you new leads.
If you lack confidence here is what to do:
Make eye contact with everyone you meet and talk to.
Just get started on your goals.
Look at yourself in the mirror everyday before leaving the house.
Realize that you serve a purpose on this planet.
Find out what you love and do more of it.
Stop hanging around losers.
Find out what the very best people in the world do daily.
Make it a priority to release something to the world once a year.
Think positive thoughts.
Accomplish one goal on your list everyday.
Realize how blessed you are to be in the situation you’re in right now.
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Networking? What the hell is that?
Is it spamming?
Is it going to a conference?
Is it going to school and raising your hand?
Maybe its being connected to more than 2 different social groups?
Is it the internet?
The meaning of networking has changed since the 90’s. back than it was a “business” term. Only used by people in fancy suits or those with a lot of money in the bank. Networking was getting another person’s contact info to specifically do business and nothing else.
New decade. New generation. New technology. New terms.
No I don’t believe everything is new at this point. Everybody has done everything, but that’s another blog post.
Anyway, networking. Listen to the word and break it down. “Net” “Working”. It clearly means working on or expanding your net of people.
Networking used to only be a business conference or business meeting or the exchange of “business info”. Now networking is:
Greeting some.
Dinner with friends.
Commenting on a youtube video or Facebook status, or tweeting.
Going to the movies.
Talking on the phone.
Having a good time.
Being friendly.
Being patient.
Working a 9 to 5.
Running an empire.
Playing sports.
Getting good grades in school.
The list can go on forever and ever. Anything that connects us to other humans is networking. Strangers who remember something like you holding the door for them 3 times in one week will mentally add you to their mental rolodex.
If you “slam” people’s fingers in the door you’re put in the “don’t contact” file without even knowing.
Remember if it connects two or more people, it’s networking.
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Success at birth? (Is this really possible?)
Success is not hereditary. You are not born successful. You can be born into a successful bloodline. Your parent could have all of the riches and awards and recognition and swimming pools but you didn’t make that happen because of your birth.
Yes your parents can put a trust fund away for you. They can give half of their net worth when they die. You can call yourself rich or wealthy.
Here’s the thing though: everyone (who is intelligent enough) will know that you didn’t work your way up to those riches. They will all know that you were born into success through second generation work ethic.
How proud can you be knowing you that did not to contribute to the success of your family?
You have to put in work YOURSELF! You have to drawl a line and stand up and know that you didn’t create everything you already have. There has to be a point in time where you make the change and decide your going to create your own success. Your own wealth. Your own recognition.
The level of appreciation you will have for creating your own success is something you will NEVER get if you don’t put in the groundwork for yourself .
This goes for middle-class and poor people as well.
