We are living in an impatient age, and when it comes to money we need more now, today, and not tomorrow. Whether it is a mortgage or a credit card debit that expires us if we stop enjoying our purchases, it will not be good. When it comes to making money, we want easy choices and quick returns. Hence the current mania of crypto-currencies. Why invest in technology or learning on a machine where Ethereum is overcrowded and Bitcoin is a lasting gift?
One hundred years ago, American author George S Clason took a different approach. In Babylon the richest man gave to the world a treasure – in fact – of material wealth based on what may seem obsolete today: warning, wisdom, and wisdom. Clason used the wise men of the ancient city of Babylon as spokespersons for his economic strategy, but such advice is as relevant today as it was a century ago, when the Wall Street Crash and the Great Depression were imminent.
Take, for example, the five golden rules. If you are looking to make the most of your finances, wherever you are, this is for you:
Law No1: Gold comes happily and more for everyone who gives one-tenth of their income to make a fortune for themselves and their family. Alternatively, save 10% of your income. At least. Save more if you can. And 10% is not for next year’s vacation or a new car. It’s a long time coming. Your 10% may include your pension contributions, ISAs, premium bonds or any other type of interest / restriction. Well, the interest rate on investors has dropped a bit now, but who knows where they’ve been for five or ten years? And a compound interest rate means that your income will grow faster than you might expect.
Law No2: Gold works hard and happily for a wise person who finds a rewarding career. Therefore, if you are looking to sell money instead of saving, act wisely. There are no crypto-currencies or pyramids. We are focusing on the terms “benefits” and “jobs”. Make your money to help you but remember the best you can expect this part of the rainbow is a long-term refund, not a lottery win. By doing this it could mean that shares in established companies offer a more stable share and a higher share price. You can invest directly, or through a fund manager as a unit trust, but before you split a single penny, see Rules 3, 4 and 5 …
Rule number 3: Gold adheres to the protection of the wise owners who place them under the help of the wise in handling it. Before you do anything, talk to a financial adviser. If you don’t know, check it out. Search them online. What skills do they have? What kind of customers? Read the comments. Call them first to find out what they have to offer, and then decide if a face-to-face meeting will work. See what they are planning. Are they independent or are they tied to a particular company, under a contract to force the company’s finances? A good financial advisor can encourage you to get the essentials: a pension, life insurance, a place to stay, before encouraging you to make money in upcoming markets and travel trips. Once you are convinced that you have found a mentor you can trust, listen to them. Trust their advice. But review your relationship with them regularly, say so year after year, and if you’re not happy, look elsewhere. Fortunately, if your judgment is fair, you will still have the same counselor for many years to come.
Rule No4: Gold flows to those who invest it in businesses or goals that they do not know or that are not approved by those who know how to do it. If you know more about the grocery store, try to sell it to a growing market. Likewise, if you work for a company that has a working class, it makes sense to take advantage of the opportunity, if you are sure that your company has good prospects. But, you don’t have to put up any market or any financial item that you don’t understand (remember the Dangers!) Or you can’t fully research it. If you are tempted to try your hand at selling money or choosing a business and have a financial adviser, talk to them first. If they are not runners, ask them to refer you to who they are. Above all, find anything you are not sure about, even if you return what may have happened.
Rule No. 5: Gold is a refuge for the one who wants the impossible money or for those who follow the tricks of deception or fraud or who believe that they do not know much. Again, the fifth commandment follows after the fourth. If you start looking online for financial and financial advice, soon your box will be full of “scammers and scammers” and promise you the world if you lose $ 999 in their “system” by changing £ 1 to £ 1XXXXXX Chicago Mercantile Exchange. Remember, the only one who makes money by chasing gold is the one who sells shovels. Buy the wrong shovel and you will quickly fix it. Don’t just pay for the services that are worthless; if you follow it you will probably lose a lot more than the price you paid. Gradually you need to analyze the realities of marketing. And don’t buy anything, cash-in-transit vehicles or financial items from any company that is not registered with state regulators, such as the Financial Conduct Authority in the UK.