Category: Money & Wealth
Welcome to the Money & Wealth category. Money alone can rarely make you happy, but a lack of money can definitely make you miserable. Quality relationships, wealth and health are three core fundamentals of a quality and happy life.
If one of these areas collapses, it most often has great negative influence on other areas of life as well. An important part of setting a superior life strategy is proper management of your money, wealth and other resources.
When it comes to money, there are three important skills to master – (1) earning money, (2) keeping money and (3) growing your wealth.
The best way to earn money are passive and portfolio income, the best way to keep money is a frugal and minimalistic lifestyle while avoiding bad investments, and the best way to make profitable investments is to find opportunities with low risk and huge potential yield.
The Money & Wealth category is all about increasing your long-term net worth, by being a value producer, smart investor and frugal consumer.
Under this category, you will find all kinds of personal finance-related posts, from how to upgrade your general psychological money blueprint, to practical tips for increasing your earning potential and properly managing your assets.
The important fact is that money is like love: if you don’t pay attention to it, it goes somewhere else; and you don’t want that to happen.
For most of my career, I’ve been working with rich people from all over the world – entrepreneurs, investors, investment bankers, business angels, managers, lawyers and others. When I was in my 20s, working with successful business people was really fascinating and a big honor to me, and not to mention the best learning experience ever. Now in my 30s, many of my friends are getting rich or are at least financially very well-off. In general, I could say that they achieved financial prosperity on their own with a smart strategy, hard work, dedication, persistence and stamina, but there’s always also strong support from the environment present – family, ecosystem, market trends, investors, best schools, and so on. You need both. Nobody can succeed alone. On top of that, I always liked studying successful people from all over the world, who are most often also rich (people on Forbes’ list …
Today, we live in an extremely materialistic world, where we are programed to be a subconsciously obedient consumer from a young age onwards. You’re exposed to a few hundred marketing messages on average each day, and most advertisers try to convince you to buy things you don’t need to impress people you don’t like with hard-earned money from a job you may even not like. But there’s more than that. Productivity has risen dramatically in the past two decades. An average worker creates more value than ever. Nevertheless, wages aren’t going up, they are remaining steady or even decreasing. All
Asset-light living means that you can easily buy digital goods (or upload them) online, store them in your personal cloud system and access them in the right place at the right time. Cloud computing and smart phones are the main enablers of asset-light living. Asset-light living helps you save space, time and money. With asset-light living, you save tons of physical space. A decade ago, you needed to have physical books, CDs, tapes and other media. Today, everything can be in your cloud, without using up any physical space. In addition to that, you need fewer devices, since nearly everything is integrated