Author: Jonathan

Litecoin Price Prediction [Update]: LTC Leading the Last Market Rally Is Good News — Here’s Why

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Litecoin was the leader in last week’s market rally; this is good news in general as it shows shift towards the importance of currency.

Last week was a fantastic week for Litecoin, once seen as the silver to Bitcoin’s gold, as it rallied 30 percent in a surge that helped many other top coins also pick up some solid gains. The growth for Litecoin could be attributed to the foundation’s partnership with software development firm Beam to explore a new protocol called “Mimblewimble” that will improve privacy and scalability.

But what is more important to note is that this boost for the cryptocurrency that is aimed at being a quick and easy functional cryptocurrency is that there is a lot of excitement surrounding these kinds of improvements.

Bitcoin has so often been the leader in terms of market fluctuations, but when another coin takes the lead in big boosts, it makes sense to dig a little deeper. For Litecoin, the possibility of a better performing digital currency seems to be boosting excitement in the market, much more than the investability, and the ‘digital gold’ status that Bitcoin has had for so long.

Litecoin’s rally

Litecoin had been languishing for a while, slipping down the stakes in the market caps, as well as falling out of favour in the media and news. However, Litecoin jumped to the fourth position by market capitalization following the spike on Feb. 8.

The coin opened at a price of $44.76 the very next day. LTC reached a low of $42.40 before reaching a high of $47.09 and finally closing at a value of $46.83.

Litecoin’s rapid rise saw it overtake first Bitcoin Cash, an offshoot of the original Bitcoin, and then EOS, an Ethereum rival, moving into fourth place on the list.

“We have started exploration towards adding privacy and fungibility to Litecoin by allowing on-chain conversion of regular LTC into a Mimblewimble variant of LTC and vice versa,” Beam wrote in a Medium post. “Upon such conversion, it will be possible to transact with Mimblewimble LTC in complete confidentiality.”

Making cryptocurrency important again

It may seem like a small thing, but the fact that Litecoin has made a big leap in its growth and signed a rather important partnership shows that there is a lot of interest in a workable cryptocurrency coming forward.

Many enjoyed the run Bitcoin had in gaining value as they dove into investing and hoarding the coin as a digital gold. But now, with Litecoin being much more spendable and gaining value, perhaps the perception is changing to people wanting to spend digital currencies, and thus make the market far more liquid and healthy.

All of the World’s Money and Markets Capitalisation

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All of the World’s Money and Markets Capitalisation

This infographic is the updated version of our best-known piece from The Money Project, an ongoing collaboration with Texas Precious Metals. It was first published in late 2015.

Millions, billions, and trillions…

When we talk about the giant size of Apple, the fortune of Warren Buffett, or the massive amount of global debt accumulated – all of these things sound large, but they are actually extremely different in magnitude.

That’s why visualizing things spatially can give us a better perspective on money and markets.

HOW MUCH MONEY EXISTS?

This infographic was initially created to show how much money exists in its different forms. For example, to highlight how much physical cash there is in comparison to broader measures of money which include saving and checking account deposits.

Interestingly, what is considered “money” depends on who you are asking.

Are the abstractions created by Central Banks really money? What about gold, bitcoins, or other hard assets?

A NEW MEANING

However, since we first released this infographic in 2015, “All the World’s Money and Markets” has taken on a different meaning to us and many others. It’s a way of simplifying a complex universe of currencies, assets, and other financial instruments in a way that people can understand.

Numbers represented in the data visualization range from the size of the above-ground silver market ($17 billion) to the notional value of all derivatives ($1.2 quadrillion as a high-end estimate). In between those two extremes, we’ve added many other familiar measures, such as the GDP of California, the value of equities, the real estate market, along with different money supply metrics to give perspective.

The end result? A visually pleasing, but enlightening new way to understand the vast universe of global assets.

Source: https://www.visualcapitalist.com/worlds-money-markets-one-visualization-2017/

How To Become A Millionaire Fast By 25

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You may think you’ll never get rich unless you hit the lottery, win big in Las Vegas or come into a big chunk of family money.

But becoming a millionaire is within reach for those who start young and develop the right habits. And anyone at any age can develop the traits that increase wealth and decrease debt.

7 steps to becoming a millionaire by 25

  1. Develop a written financial plan.
  2. Save, save, save.
  3. Live below your means.
  4. Lay off the credit.
  5. Invest in ways that work for you.
  6. Start your own business.
  7. Get professional advice.

Become A Millionaire Fast By 25

“Debt holds people back,” says Jason Flurry, certified financial planner and the founder and president of Legacy Partners Financial Group in Woodstock, Georgia. “They buy liabilities, and they make those payments forever.”

Here’s his quick advice for putting yourself on a path toward a seven-figure net worth: Spend less than you make, live a modest lifestyle and don’t let every raise push you up the lifestyle ladder.

It’s a matter of choices

That doesn’t mean you should decorate your home with cheap plastic lawn furniture, forgo cable TV and dine on mac and cheese every night. But do you really need to buy a car that’s so expensive, or do you have to have that 60-inch, high-definition TV right now? Become A Millionaire Fast By 25

Many people who choose wealth over stuff wouldn’t consider spending money on the “latest and greatest” because they know their money can be put to better use elsewhere.

Buying a “liability” would probably cause them stress because they’d rather buy an asset — something that will appreciate over time and give them a return on their investment.

Flurry says he has a hard time getting some of his older clients to spend their money.

“They’ve been savers all their lives and the thought of spending $5,000 or $10,000 on a vacation is ridiculous,” he says. “It doesn’t matter that they’re worth $3 million.”

With help from those who advise people already at or over the million mark, we’ve come up with these seven steps to becoming wealthy.

1. Develop a written financial plan

Saying you want to be wealthy isn’t good enough. You need to come up with a workable plan and put it on paper.

The written plan forces you to do something,” says Stewart Welch of The Welch Group in Birmingham, Alabama.

“Calculate what you need to earn and how to invest. The plan isn’t just the goal, it’s the whole thing — the dream, the goals, the options.”

The options, he adds, are “scenario planning” — all the ways you can accomplish that goal, such as opening a Roth IRA or contributing to a 401(k).

2. Save, save, save

The end result of your financial plan should be systematic investment. Get in the habit of saving money. Build an emergency fund in a money market account so you don’t have to raid the rest of your savings and investments when an unexpected major expense arises.

Make a point of saving at least half of every pay raise.

Look into your savings options so you are sure you’re getting the best return on what you put in. Open a savings account or CD with good rates. Think about your retirement fund. Work toward maxing out your 401(k) and then putting any additional funds into a traditional or Roth IRA.

Diversification of your savings can be the most important key in getting the most out of what you are able to save.

3. Live below your means

Living according to a “treat yourself” philosophy can quickly lead to debt and unnecessary liabilities.

Don’t be a walking billboard for overpriced designer clothes, shoes, sunglasses or jewelry.

And, don’t allow your house or car payments to be budget-busters. Use Bankrate’s mortgage calculator to determine how much house you can really afford.

4. Lay off the credit

Some people say that if you can eat it or wear it, don’t put it on your credit card. That’s good advice, but take it further. Try not to put anything on your cards that you can’t pay off in two or three months.

You need only one or two credit cards. If you have a fistful, pay them off. Remember, debt holds you back.

“It reduces cash flow for other things, including investing,” Welch says. “If no one gave you money to borrow, you’d be better off.”

5. Invest in ways that work for you

It takes money to make money, but that doesn’t mean you need a lot to invest.

Open an account with a mutual fund company that has no-load funds and low expense ratios. Build a diverse portfolio, and you can reasonably expect to earn 8 to 10 percent annually on your investments over the long haul.

If you have the initial cash to put into buying property, consider investing in real estate. You can create an additional revenue stream for yourself by renting, and earn long-term through appreciation.

You can also invest your money in the stock market by using an online broker like Robinhood or E-Trade.

If you want to increase your investments or diversify further, look into passive income opportunities. Side gigs like selling informational products or choosing dividend-yielding stocks that aren’t time-consuming can help you offset spending and dedicate more to saving and investing long-term.

6. Start your own business

In their book “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy,” authors Thomas Stanley and William Danko say that two-thirds of millionaires are self-employed, and that entrepreneurs represent the majority of that group. The rest are professionals, such as doctors and accountants.

Entrepreneurs create most of the country’s wealth. Most millionaires in the making — 8 out of 10 — earned or increased their assets on their own, a survey by Fidelity Investments found. That holds true for actual millionaires as well.

7. Get professional advice

A good financial planner can help you fill your portfolio with the right investments and dump the wrong ones. You don’t need to relinquish control, but you do need to form a good relationship with an expert in this complicated area.

According to another Fidelity survey, more than 6 out of 10 millionaire investors use financial advisers to help manage and protect their wealth.

Maybe finding the right adviser could tip the scales toward the seven-figure milestone. If you can’t afford to have a financial planner manage your money, many will review your portfolio and make recommendations for a one-time fee.

Bankrate’s “Save a million dollars calculator” can show how long it will take for you to reach your big goal.

How the US Government Shutdown effecting Bitcoin

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The longest government shutdown in U.S. history is hurting the crypto industry, too.
As the impasse in Washington stretches into its record-breaking fourth week, the closure of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) has put key developments – namely, the approval and launch of products and services involving cryptocurrencies – on hold.

Notably, the launch of Bakkt’s bitcoin futures market was delayed in part by the company’s inability to secure approvals before Dec. 22, 2018, when the shutdown began. The platform, created by Intercontinental Exchange (parent of the New York Stock Exchange), is in a holding pattern until regulators can open a 30-day public comment period. A new launch date for the platform, which most recently was set for Jan. 24, has yet to be announced.

When ETF?

Exchanges aside, even certain products are now potentially at risk.

Perhaps one of the most highly anticipated bitcoin-related products is an exchange-traded fund, or ETF. The SEC currently has one rule change proposal sitting before it, filed by VanEck, SolidX and Cboe.

The proposal has already been delayed a number of times, and now faces a final deadline of Feb. 27. If the SEC does nothing, under existing law, the proposal would be approved. Specifically, Title 15 of the U.S. Code states that any proposed rule changes “shall be deemed to have been approved by the [SEC] if … the [SEC] does not issue an order approving or disapproving the proposed rule change.”

However, some legal experts say an approval-by-default is unlikely to happen, even if the shutdown drags on.

Ethan Silver, chair of the broker-dealer practice at law firm Lowenstein Sandler, anticipates that, should the shutdown continue, any staffers who remain on duty would reject the application.

“I think if they were forced to deal with it, they would sooner deny it than be put in a position [where it is approved on a technicality],” he said, explaining that the regulator would likely cite “market integrity” or a similar emergency contingency as a reason for the denial.

Similarly, Jake Chervinsky, a lawyer with Kobre & Kim, said on Twitter that the SEC would likely find some way to reject the proposal during a protracted shutdown, a view also shared by attorney David Silver of the Silver Miller law firm.

The commission has yet to approve any crypto ETFs, rejecting nearly a dozen in 2018. That has not yet deterred companies from trying to be the first to bring such a fund to market, however. Just last week, Bitwise Asset Management announced its intention to launch a bitcoin ETF with NYSE Arca.

While the company has filed an initial registration form, NYSE Arca has not yet submitted the rule change proposal, and so the SEC cannot yet consider the ETF.

Please advise

Beyond launches, the crypto space – at least in the U.S. – is still waiting for increased clarity and official guidance on how to safely handle digital assets.

Vince Molinari, co-founder of the regulated trading platform Templum, told CoinDesk that initiatives the SEC may have planned, such as guidance on custody, are likely to be delayed.

“I think the entire space gets pushed back,” he said. “It could be a quarter or two before things go back, it could be longer depending on how long the shutdown’s in effect.”

Compounding the issue, he noted, is that even after the shutdown ends, staffers have to catch up on anything they missed during the furlough.

“There’s talk about the [initial public offering] calendar being pushed back,” he said.

Mining manufacturer Canaan is at least one crypto firm reportedly considering a U.S. IPO. While the company is said to be in the early stages of this decision, Molinari believes an extended shutdown could postpone IPO approvals “indefinitely.”

The issues mirror those faced by the financial technology sector in the U.S. more broadly, as noted in an analysis piece published by Roll Call, a news site focused on the U.S. federal government.

Roll Call noted that the CFTC, which has requested information on ether and the ethereum network, is unable to review any comments already submitted. In its request for information, the CFTC noted that any submissions would “advance [its] mission of ensuring the integrity of the derivatives markets,” which may indicate the regulator is assessing a potential ether futures market.

How To Download Video From Youtube, Facebook and Instagram

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How To Download videos And Music From Instagram Facebook And Youtube.

Vidifo is the best youtube facebook instagram and other social media videos and music downloader You can download any video and music from this platform using vidifo.com for free, this free videos downloading services provided by vidifo team you can able to download any videos and music from anywhere in the world.

Copy the video url and paste in the box and click on download button once you click the download it starts download your video that’s it you can download any video from any websites

Vidifo supports all social media platform you can download images music and videos

Get Vidifo And start downloading videos and music from facebook instagram and youtube.

How To Start Blogging And Make Money As Blogger

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Are you searching for how start a blog? well i will walk you through how to start your own blog and make money from it I created my first blog with zero computer experience. It took me forever because I had to google my way through. This how-to guide contains what I learned and is for those who want step-by-step instructions in an easy and simple format.

How To Start Blogging And Make Money As Blogger

  • Decide what to blog about.
  • Choose a blogging platform.
  • Find a host.
  • Pick a domain name.
  • Get started with WordPress.
  • Design & use your blog!

Why start a blog?

There are many reasons to consider starting a blog. Here are a few popular ones:

Make money while working from home. I make a full-time income blogging. Many others do the same. Making money as a blogger is hard work, but it’s low risk, low overhead and low barrier to entry.

Become a published author. It’s no secret, these days publishers rarely work with authors who don’t have an online presence. The reason is simple: it’s a lot easier to sell books to people who already know you. A blog is one of the easiest and most effective places to start.

Get more exposure for your existing business or organization. A blog gives anyone, from individuals to large companies, the ability to reach a large number of people at very little cost.

Just write. If you want to write, share your story, encourage others and build a community, a blog is a great place to do that.
Do you see yourself in any of those? Can you see how you would benefit from a blog? Keep reading!

How much does a blog cost?

If you use the method below, it works out to $5 to $10 a month. I blogged for years on this budget. As my blog and income grew, I eventually started paying for more premium tools and services, but they are not required to start.

Can I start a blog for free?

Yes. However, here’s my advice from personal experience: a free blog is fine if it’s a hobby. If you want to make money from your blog I don’t recommend starting a free blog. Why? A few reasons:

Some free services limit monetization (i.e. making money) unless you “upgrade” to a higher level. You’ll have to pay for that upgrade of course, so it defeats the purpose of having a free blog in the first place.

Companies don’t offer free blogs out of the goodness of their hearts. They still want to make money somehow. If you’re only using their free service, they’re not making money from you. Therefore, they don’t have a lot of incentive to keep you happy. Sometimes this means you’ll have little to no support. Other times it means you’ll be badgered with offers for their paid-for products.

Most free services have only basic features. This might not be a problem at first, but as you grow, you will almost certainly feel the pinch. Expandability and flexibility are key, both of which are limited with free blogging services.

If you ever want to switch to a better service (very common among those who start a free blog), it’s a hassle and can be costly. Doing it yourself takes a lot of time and know-how. Hiring someone to do it for you correctly costs hundreds of dollars.

You might not be able to do what your favorite bloggers are doing. This happens to new bloggers all the time. They start a blog for free. Soon they notice cool features on other blogs which they want too. The problem is, it’s not possible on their free service.

Accountability. In general, we value things we pay for. Blogging is hard work. One way to keep yourself accountable is to pay just a little bit for it.
If those 6 common pitfalls don’t convince you, or a free blog is truly your only choice, I would go with Blogger.

Follow This Steps Below To Start A Blog

Step 1: Decide what to blog about

If you’re part of a business, company or organization, your blog should be related to the product(s) or service(s) you provide, or the cause you promote.

Blog about something you enjoy. If you aren’t excited about your topic, writing about it will be drudgery. Who wants that? Also, why would readers be interested if you aren’t?
Blog about something with plenty of room for discussion. A blog requires a lot of content to get going and remain interesting. You’ll be at this a long time so make sure you have plenty to talk about.
Choose a niche in which you can establish yourself as an authority. You probably won’t be the first person to blog about the topic you choose. It’s almost guaranteed someone else has thought of it before you. Don’t fret about this, come up with a unique angle. Do you have a reasonable chance of making your blog better than others talking about the same thing?

The goal for any blog is to become the go-to resource for its topic or niche.

What if I can’t decide on a blog topic?

Start anyway! A common beginner mistake is thinking you have to be sure of a topic to start. If you’re like most of us, you’ll either switch topics or settle into something as you go.

2. Choose a blogging platform

If you want to cook, you need a kitchen. If you want to blog, you need a blogging platform.

There are many blogging platforms to choose from. WordPress, Blogger, Squarespace, Wix and Weebly are a few.

All have pros and cons, but WordPress is by far the most popular , and for good reason. It’s flexible, functional and has a large community of users who share tools and ideas.

I use and recommend WordPress (but not through WordPress.com).

If you choose WordPress, you have two options: hosted or self-hosted.

Hosted WordPress blogs, sometimes called WordPress.com blogs, are free but limit your income potential.

Self-hosted WordPress blogs, sometimes called WordPress.org blogs, cost a little money but give you much more control, and do not limit your income potential.

This guide will teach you how to start a self-hosted WordPress blog, the platform preferred by beginner and veteran bloggers alike.

Note: Even though a self-hosted WordPress blog is sometimes referred to as a “WordPress.org” blog, you are not limited to a .org at the end of your name. You can still use .com, just like I do for Makemoneyaday.com.

Alright, let’s get set up!

Step 3: Find a host

Hopefully I’ve convinced you of the merits of WordPress, but there’s one more thing to know. WordPress is simply software. You can download it to your personal computer, but then your blog will only be accessible to you. In other words, WordPress by itself, won’t make your blog live on the internet.

In order for your blog to be online, and accessible to anyone, you need server space. You get server space from a hosting company or “host.”

What host should you use?

I recommend a Domitree host I have personally paid for and used for over a decade. (As a longtime paying customer, the links below are my Not My referral links. This means, at no additional cost to you, I will not earn a commission if you make a purchase.) and this is the best web hosting ever

Click here to –> go to DOMITREE <– and start your own blog. (The link will open in a new window so you can reference these instructions as you work.) Click the Blue “Get Cpanel Starter” button like so:

Don’t worry if the images you see here vary slightly from the ones you see on your screen. The process is the same. Domitree is always tweaking and making site improvements. You might even catch them in a sale!

Select your plan

Choose the plan you’d like to start with by clicking one of the green “select” buttons. I typically go with Plus or Prime because you get more unlimited features.

Domain privacy, which I highly recommend, comes included with Prime. If you choose Plus, you’ll have the option to add it later for about $1 a month.

On the next screen, you’ll enter your new blog name. Don’t have one yet? You can easily move on without one.

Step 4: Pick a domain name

A domain is a web address. For example, Makemoneyaday.com is my domain name.

If you don’t already have ideas, use your name, or think of something short, catchy and shareable.

If you have previously registered a domain and want to use it for this new site, enter it on the right. (Don’t worry, it won’t mess things up to enter it here. It only identifies your Domitree account for now.) If you don’t already have one, enter your desired domain on the left.

For the purpose of this tutorial, I will use a new domain. If you are using an existing domain, the process is nearly the same. You can still follow along easily.\

What if the domain name I want isn’t available?

No worries! Take advantage of Domitree’s option to choose a different one later. Simply click the “Choose Free Domain Later” button in the popup that appears and looks like this:

If you get stumped when choosing a domain later, read my tips here.

Enter your account info

On the next page, enter your account info. Make sure you use a working email address because this is where your login information will be sent. (Save these emails!)

Build Income 1000 dollars a day Online In 2019

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Making $1000 A Day online Is Easy in 2019 if you follow this free guide u can able to earn $1000 per day from scratch

how to make 100 dollars a day online without investment? There are several methods you can use to make a lot of money online. It is to your advantage because you have several methods to choose. If you have a passion for something, you can make it a money making opportunity online. The internet connects people from different parts of the world. There are others who are trying to accomplish specific tasks, but they are unable due to lack of specific skills or they are too busy. If you know the right platforms where you can interact with those people, you can use your free time to make money without any form of investment. The only thing you may be required to invest so that you can start making money is your time.

0 .Typing Jobs online
This is really a good way on how to make 100 dollars a day online without investment.

There are several platforms online where you can access typing jobs and start making money. The jobs require you to have some knowledge on how to use MS-word or any other equivalent software and you will be good to go in your money making process. Apart from typing jobs, you can as well apply for proofreading jobs where you can start making money online. To make the money, you need to work hard and accomplish tasks which you will be offered online. The jobs allow many people to make money from home. You only need a computer which is internet enabled and you will be good to go in your money making process. You can get the jobs posted on sites such as Upwork, Tutorialtub, Donanza and Freelancer.

  1. Paid Survey Jobs
    You can get paid for completing online surveys. The different survey platforms available will pay you different amounts. There are others where you can get paid up to $ 50 for a single survey. If you can perform two of such surveys in a day, you can end up hitting your $100 mark. The process of applying for the online surveys is very simple. You just provide your basic information the surveys will be posted for you to complete and get paid. The surveys involve research about a given product or the performance of different companies.
  2. Graphic Designing Jobs
    Are you talented in graphics design? You can make a lot of money if you can offer services to other people who are looking for ways they can have graphic design jobs done. Software such as Photoshop and coral draw can be applied to come up with useful graphics designs which you can sell to other people. It is a field where you can end up making a lot of money in the process if you are talented in the graphic design field.
  3. Spreadsheet Entry Job
    There are companies out there which require their data to be presented accurately in spreadsheets. If you have some knowledge on MS-excel and the use of computer basic packages, you can apply for the spreadsheet entry jobs and start making money online. You do not have to have high training before you can start the job. It will only require you to be careful when entering the data and a paycheck of more than $100 will await you on a daily basis.
  4. PowerPoint Presentation Job
    Companies use PowerPoint slides to present their findings as well as availing data to the general public. You can learn the skills of creating PowerPoint presentation and apply for the jobs available online. You need to put some efforts and create professional looking presentations. Add sound effects and animation to make the presentation easy for people to follow and you will start earning without any investment from your home.
  5. Language Translation Jobs
    If you have a mastery of two different languages, then you can start making money out of your talent. There are language translation jobs available online which you can apply and start making money. Companies which operate in different parts of the world would like to communicate with their clients fluently. They decide to use professionals who can translate their texts from one language to the other. You
    can as well have to listen to videos and translate to a given language. It is a wide field which can earn you a lot of money if you use the right platform to reach out to clients.
  6. Become an Online Coach
    There is a specific area where you are highly experienced and you can share the information to other people. If you have such a field, then you can start making money by helping other people with the skills you have online. Some of the areas where you will get online courses making money include health. Start a fitness training course online and people will subscribe so that you can train them to stay fit. Think of any field where you are experienced, you can teach other people and they will pay you good money. Some of the platforms which can help you get started include Udemy.com and ZippyCourses.com.
  7. Become an Amazon Associate
    Amazon is a platform which is trusted by many people all over the world. You can earn money without an investment if you decide to become an Amazon affiliate. You need to take your time and create an authority website where people can get expert advice about the different product sold on Amazon and a referral link where you can refer them to buy as you earn money regarding affiliate commission.
  8. Make Money through AdSense
    Google is ready to pay you if you have spare time; you can develop a website and let people interact with you online where you share helpful tips. Any field where you are interested can earn you money as far as Google AdSense is concerned. The only thing you need to do is to design a professional looking website and carry out search engine optimization so that you can attract many people to your website. The higher the traffic, the more money you will earn from Google AdSense.
  9. Design Business Logos
    Do you have some knowledge on how to design professional business logos? You can earn money if you can design logos which established businesses can love. Some of the platforms where you can interact with business owners who need logo design include: 99Designs, Logocontests.com and Sitepoint.com.

7 Secrets Of Money the Rich Don’t Want You to Know

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Ask most personal finance experts and they’ll tell you the secret to becoming rich is no secret at all: Work hard, live below your means and save every dime. The nation’s One Percenters, however, might disagree.

Secrets Of Money

There’s no shame in a modest lifestyle — even Warren Buffett lives frugally. But if your goal is to get rich, it’s helpful to know these seven secrets the ultra-wealthy aren’t likely to share.

1 Salary isn’t the whole story

Climbing the corporate ladder will only get you so far; at some point, you reach your earning potential and plateau. The rich know that in order to grow wealth, it’s important to make your money work hard for you — not the other way around. In fact, Robert Kiyosaki, author of the No. 1 best-selling personal finance book “Rich Dad, Poor Dad,” built his entire money philosophy around this concept.

Generating income from passive, rather than active, income sources is the best way to do this. Investments that yield passive income include dividend-paying securities, rental properties, profits from a business you do not directly manage on a daily basis — even royalties on creative work or inventions.

2 Take advantage of time, not timing

If the recent Dow Jones crash proves anything, it’s that no one can predict what the market will do tomorrow. The wealthy know this and make no attempt to moonlight as day traders.

Time is more important to investment success than timing,” explained Peter Lazaroff, a certified financial planner who manages portfolios upwards of $10 million for Plancorp, LLC. “Most of the population believes that timing the market’s moves is the key to growing rich through the stock market. The wealthy, however, understand that time and compound returns are the most important factor in growing wealth.”

Though it might seem counterintuitive, getting rich requires investors to adopt an unsexy buy-and-hold strategy, ride out market fluctuations and ignore speculation.

3 Put it in writing

The difference between having an idea and putting it on paper is often what separates the uber-successful from average folks. And if you equate success with wealth, it might be time to start writing down your goals, both large and small, in order to become rich.

Thomas Corley, author of “Rich Habits: The Daily Success Habits Of Wealthy Individuals,” noted that 67 percent of the wealthy people he surveyed wrote down their goals, while 81 percent kept a to-do list. If your goal is to become a multimillionaire, write it down along with an action plan for making it happen.

4 Understand value over cost

According to Justin J. Kumar, senior portfolio manager at Arlington Capital Management, “The wealthy person has three best friends: her attorney, her accountant and her advisor. The wealthy tend to use the law and tax code to their advantage when figuring out how to maximize their wealth, especially over multiple generations, and they are not afraid to spend money up front for counsel to get these answers.”

Kumar explained it’s common for middle-income Americans to cut corners in order to save money, yet ultimately find the results lacking. “The wealthy look at value over cost, but they are still prudent in their decisions,” he said.

5 Eat out less

People who are concerned with saving money often skip the daily latte. The rich enjoy small splurges such as Starbucks whenever they want and instead look at saving from a bigger picture.

Author Paul Sullivan and colleague Brad Klontz, a clinical psychologist with an academic appointment at Kansas State University, conducted research on the difference in spending habits of the 1 percent and the 5 percent. The 1 percent spent 30 percent less on eating out and saved it for retirement instead. “And that, more than the cost of a Starbuck’s latte, is what, over time, separates the wealthy from everyone else on the wrong side of the thin green line,” Sullivan wrote in Fortune.

6 Be your own boss

Employees work to make their bosses rich. If you’re aiming for true wealth, consider starting your own business. According to Forbes, nearly all of the 1,426 people on its list of billionaires made their fortunes through a business they or a family member had a hand in creating.

“Many middle class workers think that starting a business is too risky,” noted Robert Wilson, a financial advisor and frequent contributor to CNN, NBC and CBS. “The wealthy understand that what’s risky is allowing your time and earnings to be dictated by a boss who couldn’t care less about whether you get what you want for your life.”

7 Use other people’s money

To the average person, “it takes money to make money” might sound like a tired cliche used to justify irrational spending. For the rich, it’s a golden rule of wealth.

The key is leveraging other people’s money to increase your own wealth.

“Trading time for dollars is a losers’ game, especially as technology destroys many jobs that don’t require a highly skilled human being,” said Wilson. “Using money from banks/investors and hiring people to work for you is a time-tested formula for building wealth, not to mention the tax laws, which heavily favor businesses.”

Whether you’re fundraising to start a business or flipping real estate for a profit, relying on other people’s money to do the heavy lifting greatly increases the return. Of course, it’s also riskier than relying on your own funds. But if you follow the sage words of the great Warren Buffett, consider that “risk comes from not knowing what you’re doing.”

Who Created And Invented The Money

Published / by Jonathan / Leave a Comment

What is money?

Who Invested The Money
Who Invested The Money

Money is an agreement between people. It is an agreement that this much of something will be worth this much bread, and this much cheese, and this many slaves. But it’s convenient to be able to move money around between people, so even in the Stone Age people used small, valuable objects as money, so they could carry it around and use it to buy other things.

The History Of Money: Seashells And Beads

Probably people started out using rare seashells as money. When they needed more money and couldn’t find enough rare seashells, they realized that you could make an object valuable by putting a lot of work into it. So they started to make their own small, rare objects by carving beads. People have also used all sorts of other things as money. They’ve used paper as money, or cocoa beans, or cowrie shells, emeralds, diamonds, gold, silver, and bronze. Beads were often a kind of money well into the 1800s. Anything small, not too heavy, and fairly rare or hard to make will work as money.

The first metal coins

The earliest metal coins came from China, where people used small pieces of bronze to trade things starting around 1500 BC, possibly to replace the cowrie shells they used before that.

Coins issued by the government

Governments invented coins with guarantees around 650 BC. Governments or businesses mark this kind of coin with a promise that this coin is worth what it says it is worth. So – if you trust that government – you don’t have to weigh each coin before you accept it. The first coins of this kind were from Lydia, in West Asia. Lydian kings used the coins to pay mercenary soldiers. But many people preferred to keep on using mainly credit for trading instead.

Paying taxes in money

When governments began to require people to pay their taxes in money, gradually gold, silver, and bronze coins became common all over Europe, Asia, and Africa ( except for South Africa). In South America, the Aztec empire collected taxes in cocoa beans, in the same way, starting about 1400 AD. Traders even made fake cocoa beans to trick people into thinking they were money.

Debasing the currency

The governments that minted these coins figured out that if they didn’t have enough money, they could mix the gold with more silver to make it go further, or mix the silver with more bronze. That way they could make more coins with the same amount of metal, and have more money to pay their soldiers with. The Romans did this in the 200s AD.

But of course pretty soon people figured out that these coins weren’t really worth what the government said they were worth, and then they didn’t want to take those coins in stores. Or they demanded more coins, so it would be the same amount of gold or silver as before.