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Hierarchy of FIRE (Financially Independent and Retired Early) 1. Surviving 2. De-debting 3. Learning 4. Investing 5. Optimizing 6. Freeing
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Wealth creation strategies
This document provides strategies for wealth creation and management. It discusses key concepts like assets, liabilities, growth, risk, and definitions of wealth. Specific investment options are outlined like equity, bank deposits, and mutual funds. The mantra emphasized is to start investing and taking advantage of compounding returns early. Wealth is defined as being able to sustain one's lifestyle without working through liquid assets and passive income exceeding monthly expenses.
Confusing familiarity and competence
In the nonprofit world (and probably elsewhere too), do we have a tendency to focus on what's comforting and measure up others according to our own measure of passion for a cause?
Whether it's the Board seeking its next Executive Director, a founder struggling to raise funds to get their project off the ground, or a nonprofit looking for new ways to diversify its revenues, I see two common human traits that hold us back:
1. We can be blinded by our passions for a cause that as a result, we fail to see opportunities before us; OR
2. We tend to gravitate to the familiar to the detriment of considering outside possibilities.
Both situations blind us from the COMPETENCIES needed to succeed. As the saying goes, "Birds of a Feather, Flock together". That can be good but it can also exclude the experiences and competencies of those from outside your normal spheres of influence.
In my opinion, those in this life that succeed master the three circles of optimism vs. reality: 1. Knowing what we’re
passionate about/who we’re familiar with; 2. Understanding what we can be the best in the world in; and 3. Knowing what drives our economic engine.
Rat raceescapeplan (1)
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In "Wealth is the Capacity to Push or Precipitate Action on Others with or Without Opposition by Using Several Techniques," readers will delve into the topic of wealth and its inherent power. This book explores how wealthy individuals possess the capacity to push or precipitate action on others, with or without opposition, by using various techniques.
Through the pages of this book, readers will discover how wealth not only has the power to accomplish goals but also enables individuals to shape other people's actions towards a specific purpose. The ability to use riches to control or benefit others can be a double-edged sword, as some individuals may reject being forced to perform certain actions.
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Visit us
Learn The Powerful Formula To Achieve Your Financial Goals
With Mathematical Precision
www.wealth-rich.blogspot.com
Wealth creation strategies
This document provides strategies for wealth creation and management. It discusses key concepts like assets, liabilities, growth, risk, and definitions of wealth. Specific investment options are outlined like equity, bank deposits, and mutual funds. The mantra emphasized is to start investing and taking advantage of compounding returns early. Wealth is defined as being able to sustain one's lifestyle without working through liquid assets and passive income exceeding monthly expenses.
Confusing familiarity and competence
In the nonprofit world (and probably elsewhere too), do we have a tendency to focus on what's comforting and measure up others according to our own measure of passion for a cause?
Whether it's the Board seeking its next Executive Director, a founder struggling to raise funds to get their project off the ground, or a nonprofit looking for new ways to diversify its revenues, I see two common human traits that hold us back:
1. We can be blinded by our passions for a cause that as a result, we fail to see opportunities before us; OR
2. We tend to gravitate to the familiar to the detriment of considering outside possibilities.
Both situations blind us from the COMPETENCIES needed to succeed. As the saying goes, "Birds of a Feather, Flock together". That can be good but it can also exclude the experiences and competencies of those from outside your normal spheres of influence.
In my opinion, those in this life that succeed master the three circles of optimism vs. reality: 1. Knowing what we’re
passionate about/who we’re familiar with; 2. Understanding what we can be the best in the world in; and 3. Knowing what drives our economic engine.
Rat raceescapeplan (1)
The document provides an overview of Andy Tanner's "Rat Race Escape Plan" which aims to teach investors how to generate passive income from assets in order to achieve financial freedom and escape the rat race of relying on active income from employment. It describes the forces that keep most people trapped in the rat race such as a lack of education on other options, fear of the unknown, and being unwilling to work on alternative strategies. The plan is to purchase assets that produce ongoing cash flow from dividends, rent, or other means in order to cover expenses without needing employment income. Stocks are presented as one asset class that may be suitable due to low barriers to entry, flexibility, lack of required people skills, liquidity, and potential
The Rich And their Influence
In "Wealth is the Capacity to Push or Precipitate Action on Others with or Without Opposition by Using Several Techniques," readers will delve into the topic of wealth and its inherent power. This book explores how wealthy individuals possess the capacity to push or precipitate action on others, with or without opposition, by using various techniques.
Through the pages of this book, readers will discover how wealth not only has the power to accomplish goals but also enables individuals to shape other people's actions towards a specific purpose. The ability to use riches to control or benefit others can be a double-edged sword, as some individuals may reject being forced to perform certain actions.
This book provides insights into how to influence others like the wealthy, highlighting the techniques and strategies employed by successful individuals to attain and wield their power. Whether you're seeking to improve your own influence or seeking to understand the motivations of those around you, this book is a must-read. With its rich exploration of the relationship between wealth and power, "Wealth is the Capacity to Push or Precipitate Action on Others with or Without Opposition by Using Several Techniques" offers readers a thought-provoking and engaging read.
ACQUIRING FINANCIAL INTELLIGENCE
This document provides tips for developing a mindset to attract money and achieve financial freedom. It discusses 5 tips for changing one's thinking to attract wealth, including acting like one is already rich, being grateful for money received, accepting opportunities for money, and doing things that make you feel good. It then outlines a 9 step process to financial freedom, which includes changing one's way of thinking, earning more than spending, creating passive income, avoiding credit cards, buying only needs and occasional wants, increasing one's limits, thinking positively, having self-discipline, and avoiding indulgences. The overall message is that one's mindset and behaviors are key to attracting money and achieving financial stability.
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The brilliant pyramid outlines the 6 steps to
- 1. The brilliant pyramid outlines the 6 steps to financial success MASLOW'S HIERARCHY OF NEEDS IN FINANCIAL TERMS
- 2. Maslow's hierarchy of needs
- 3. Hierarchy of FIRE (Financially Independent and Retired Early)
- 4. Hierarchy of FIRE (Financially Independent and Retired Early) The financial blogger known only as Mister Squirrel (who has since closed his site) shared his own version of Maslow's hierarchy: the path to financial success. Squirrel, who "dreams of a non-corporate life," calls his theory the Hierarchy of FIRE (Financially Independent and Retired Early). The idea is that once you're operating in the highest tier with your money, you're set up to be a financial success — and that applies whether or not you're aiming for early retirement.
- 5. Hierarchy of FIRE (Financially Independent and Retired Early) 1. Surviving. Before anything else, we have to get our minds right when it comes to money. As Squirrel puts it, "If you think that the government will look after you, money will take care of itself, or you’ll win the lottery, then you’re not thinking about money correctly." In this stage, you'll also start living below your means, and spending less than your monthly income. 2. De-debting. While everyone's debt situation is different, ridding yourself of "bad debt," (the kind that costs you money without giving you any clear value in return, like credit card debt) needs to be checked off your list before you can make real progress. 3. Learning. This is where you set aside an emergency fund to keep you in the green should something go wrong, and where you start learning about the possibilities for your money. Which accounts should you use? Should you invest, and how? If you have a question, now is the time to find an answer. Luckily, you have the entire internet at your fingertips. 4. Investing. Time to make use of those answers. Squirrel points out that this stage doesn't have hard borders — it will continue on through the pyramid's last stages. 5. Optimizing. Now that you have your answers and have gotten your money in order, it's time to start tweaking your plan to perfection: Plan for taxes, get a will, create a system to check on your money. 6. Freeing. "When you get to this stage," Squirrel writes, "you should be 'there.'" Now that you're financially independent and perhaps have even retired early, you have predictable expenses easily covered by passive income streams.