Tag Archives: money

The Bad Economy and the Death of the Dollar

I was looking for something to listen to and came across Robert Kiyosaki‘s audio book – Increase Your Financial IQ. It was published in March 2008 and has some very good, current information. I highly recommend it. There was some important information in the first chapter that I want to share here.

In 1971 President Nixon took the US off the gold standard, which changed how our money works. Prior to 1971, the dollar was based on gold, which has intrinsic value. To save money was equal to saving gold, so it made sense to save money for retirement or college because it would hold value.

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Do You Have a Business Plan?

If your business doesn’t have a business plan then it is in your best interest to create one.

I heard about a study recently of 1600 businesses conducted over a 25 year period about how they used business plans. 70% of the businesses surveyed had no written or verbal plan of any kind, 27% of them had only verbal goals, and only 3% of them had their plan written down. What you need to know is that 98% of all the wealth in those 1600 companies was held by those 3% that had written goals.

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Do You Have an MBA?

Do you have an MBA? I don’t mean a Masters degree in business. I mean, do you have a Massive Bank Account? I heard the term most recently from Loral Langemeier who created the Cash Machine concept that I talked about last time. You could say that you get an MBA by majoring in your cash machine.

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Choose Your Reality

I’m going to take a break from the string of posts I have been writing to talk about something that has been bothering me lately. Over the past few months I have been reading conflicting stories on CNN about the economy, gas prices, and other things that seem to affect us on a daily basis. You hear from one expert that we are in a recession, from another one that we’re not in a recession, or even two experts arguing about what the actual qualifications are for a recession. We all probably agree with the experts who say that high gas prices are bad for the economy. Well, I read a story recently from an expert who said that falling gas prices, as they are now, are bad for the economy. It appears that they are and indicator of a coming recession.

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“Job” is really an acronym

The word “job” is really an acronym for “just over broke”. Too many people toil their lives away at a job for 45 years and end up having to squeak by every month on Social Security or work as a greeter at Walmart. I have nothing against greeters at Walmart, but by the time you retire you should have a choice about what you want to do with the rest of your life. If that is to be a greeter at Walmart because you enjoy the social interaction, then that’s great. It shouldn’t be because you need the money.

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