Personal Economics 101

1. Obstacles are opportunities Marcus mastered the art of turning every obstacle into an opportunity. Nothing was universally negative in his mind. In this vein, every hardship has at least one positive aspect. 2. Don't spend time worrying about what people think of you "Your energy and time are both limited, so don't waste them on what those inconsequential to your life are doing thinking and saying." 3. Focus on the present "Each of us lives only now, this brief instant. The rest has been lived already, or it impossible to see." 4. You are the architect of your perceptions "You have the power over your mind -- not outside events. Realize this and you will find strength." 5. Value the right things in life and your life will have value “A person’s worth is measured by the worth of what he values.” 6. No goal is out of reach “Because a thing seems difficult for you, do not think it impossible for anyone to accomplish.” 7. Be grateful for what you h...

The Richest Man in Babylon  is an absolute gem of a book that imparts timeless financial wisdom in a captivating and relatable manner. George S. Clason's storytelling takes you on a journey to the ancient city of Babylon, where simple yet profound financial principles come to life. This book is a masterpiece in teaching the art of managing money, showcasing principles like saving a portion of your income, investing wisely, and living within your means. Through relatable parables and anecdotes, Clason delivers valuable lessons that remain as relevant today as they were when the book was written. What sets this book apart is its ability to simplify complex financial concepts. The storytelling format makes it engaging and easy to understand, even for those who are new to financial literacy. As you follow the characters' journeys to financial success, you'll find yourself not only entertained but also inspired to apply the lessons to your own life. "The Richest Man in Baby...

You'll find these concepts of Stoicism in Meditations  by Marcus Aurelias , a Roman emperor from 161 to 180 AD and a Stoic philosopher.

Get the book at ThriftBooks:  Think and Grow Rich  

From " Outliers: The Story of Success " by Malcolm Gladwell.  Genius is not everything—emotional and practical intelligence are also critical to success The man who invented the Intelligence Quotient (IQ) test was Lewis Terman, a professor of psychology at Stanford. His area of expertise was quantifying intelligence. In the early 1920s, he decided to dedicate his life to the study of singularly gifted kids. After a thorough vetting process through several rounds of tests given to elementary students in California, Terman selected a group of 1,470 children who had done brilliantly on the tests. The average IQ among the children was 140, and some had IQs as high as 200. He affectionately referred to these children as the “Termites,” and he dedicated his life to tracking their progress and life events. IQ matters, clearly, but only up to a point. An IQ of 100 is average and above 145 is considered genius, but an adult with an IQ of 180 is not more or less likely to win a Nobel P...

 You are a product of your environment. You are a product of who you hang out with. And how to deal with people you can't cut off. https://youtu.be/d3uAaz1jaDg

1. Follow a budget. Live beneath your means. 2. Be debt free. Pay cards in full. 3. Have an emergency savings account. 4. Negotiate salary. 5. Save for retirement -- now.  https://youtu.be/8jkri0AeZWQ

Key insights from Happiness is a Choice You Make: Lessons from a Year Among the Oldest Old By John Leland What you'll learn This book began as a series of in-depth interviews that New York Times reporter John Leland conducted called "85 and Up." The book's title is...

I moved #10 to #1, because it is actually the most important. 1. You need a written budget and a written plan for your money 2. Spend less than you earn 3. Create an emergency fund immediately 4. There is no tomorrow; start today 5. It's purely on your shoulders 6. The "Joneses" are living a lie 7. Pay off your debt 8. Create multiple sources of income 9. Personal finance is 20% knowledge and 80% behavior 10. Income does not determine your wealth

Omar, Sanders and AOC have called for dismantling our economic system and replacing it with Socialism. This article was written by a 26 yr old college student by the name of Alyssa Ahlgren, who's in grad school for her MBA. “My Generation Is Blind to the Prosperity Around Us! I'm sitting in a small coffee shop near Nokomis (Florida) trying to think of what to write about. I scroll through my newsfeed on my phone looking at the latest headlines of presidential candidates calling for policies to "fix" the so-called injustices of capitalism. I put my phone down and continue to look around. I see people talking freely, working on their MacBook's and ordering food they get in an instant, seeing cars go by outside, and it dawned on me; we live in the most privileged time in the most prosperous Nation and we've become completely blind to it. Vehicles, food, technology, freedom to associate with whom we choose. These things are so ingrained in our American way of life...

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I slept and dreamed that life was beauty. I woke and found that life was duty. 

I challenge anyone reading this to spend two hours with this video of Jim Rohn. It's a classic. You'll be glad you did.

Was 2017 really the "worst year ever," as some would have us believe? In his analysis of recent data on homicide, war, poverty, pollution and more, psychologist Steven Pinker finds that we're doing better now in every one of them when compared with 30 years ago. But progress isn't inevitable, and it doesn't mean everything gets better for everyone all the time, Pinker says. Instead, progress is problem-solving, and we should look at things like climate change and nuclear war as problems to be solved, not apocalypses in waiting. "We will never have a perfect world, and it would be dangerous to seek one," he says. "But there's no limit to the betterments we can attain if we continue to apply knowledge to enhance human flourishing."

Quoted in CNBC: “If you have 40 years left to invest, a bear market right now is just noise and should be ignored — in fact, often celebrated,” said Doug Bellfy, a certified financial planner at Synergy Financial Planning in South Glastonbury, Connecticut. On the other hand, Bellfy said, “a stock market crash that starts the day after you retire can cause a permanent lifestyle impact if all your money is invested there.” Oh my! This is the buy and hold advice that most young (and old, in fact) investors are given. It's taught in financial schools. It's a common paradigm for long-term investing. There are whole theories in finance that revolve around this; for example, the Efficient Market Theory (EMT). I don't buy it. Avoiding bear markets, no matter how many years you have left, can be a huge difference in the outcome of your retirement portfolio. The charts below show that just holding can mean holding for more than a decade to "break-even." You don...

Using your time wisely is key to success. Focusing on what's important. Don't mistake movement for achievement. Don't mistake courtesy for consent. Concentration is important. Learn to say no. Don't play at work. Jim Rohn: Habits of the Wealthy  (15 min)

On Quora , I came across the following answer to the question "How easy is it to become wealthy and successful?" The answer was written by Axel Schultze , and is worth considering -- actually, put some thought into what he has to say. Success and wealth have absolutely nothing to do with education, experience, circumstances you are born into… About half of the super rich had nothing to start with. Our mindset determines the outcome of our action . If your goal in life is to get rich, the likelihood of getting rich is extremely small. And why should you? And if that would help, everybody on the planet would be rich. BUT - if your goal in life is to solve a problem that very many people have and all you can think of is to find a solution for THEM, you will find that solution and that makes you rich. 90%+ will never believe that those who made it all the way to the top, never cared about money. But the wealthy in this world know that wealth is coming with success alm...

The ideas are simple. The execution hard. Success in personal finance is 20 percent knowledge and 80 percent behavior. Learn to discipline yourself.  The rest is easy.

Listen to this every day. For as long as it takes, even if it's the rest of your life. "We have a serious matter here to discuss. Take your own future serious."