Bryan Hoo's Blog, page 2
August 29, 2021
Financial Tips for Young Adults
It is been a busy week for Bryan and Robert because both of us are going to a new business venture📈. But still, contents will be still provided to you! We will talk about Financial Tips for Young Adult this week. Enjoy~🧐
Tip#1. Learn Self-Control
If you’re lucky, your parents taught you this skill when you were a kid. If not, keep in mind that the sooner you learn the fine art of delaying gratification, the sooner you’ll find it easy to keep your personal finances in order. Although you can effortlessly buy an item on credit the minute you want it, it’s better to wait until you’ve actually saved up the money for the purchase. Do you really want to pay interest on a pair of jeans or a box of cereal? A debit card is as handy and takes the money from your checking account, rather than racking up interest charges.
If you make a habit of putting all your purchases on credit cards despite not being able to pay your bill in full at the end of the month, you might still be paying for those items in 10 years. Credit cards are convenient and paying them off on time, helps you build a good credit rating. And some offer appealing rewards. But–except in rare emergencies–make sure to always pay your balance in full when the bill arrives. Also, don’t carry more cards than you can keep track of. This financial tip is crucial for creating a healthy credit history.
Tip#2. Control Your Financial Future
If you don’t learn to manage your own money, other people will find ways to (mis)manage it for you. Some of these people may be ill-intentioned, like unscrupulous commission-based financial planners. Others may be well-meaning, but they may not know what they're doing, like Grandma Betty, who really wants you to own your own house even though you can only afford one by taking on a risky adjustable-rate mortgage.
Instead of relying on others for advice, take charge and read a few basic books on personal finance. Once you’re armed with knowledge, don’t let anyone catch you off guard—whether it’s a significant other who slowly siphons off your bank account or friends who want you to go out and blow tons of money with them every weekend.
Tip#3. Know Where Your Money Goes
Once you’ve gone through a few personal finance books, you’ll realize how important it is to make sure that your expenses aren’t exceeding your income. The best way to do this is by budgeting. Once you see how the cost of your morning coffee adds up over the course of a month, you’ll realize that making small, manageable changes in your everyday expenses can have as big an impact on your financial situation as getting a raise.
In addition, keeping your recurring monthly expenses as low as possible can save you significant money over time. Even if you can swing an amenity-packed apartment now, picking something plainer could let you afford to own a condo or house sooner than you otherwise would. 😘
Tip#4. Start an Emergency Fund
One of personal finance’s most-repeated mantras is "pay yourself first.” No matter how much you owe in student loans or credit card debt, and no matter how low your salary may seem, it’s wise to find some amount—any amount—of money in your budget to sock away in an emergency fund every month.
Having money in savings to use for emergencies can keep you out of trouble financially and help you sleep better at night. Also, if you get into the habit of saving money and treating it as a nonnegotiable monthly expense, pretty soon you’ll have more than just emergency money saved up: You’ll have retirement money, vacation money, or even money for a down payment on a home.
It's easy to put your fund a standard savings account, but these earns almost no interest. Put your fund in a high-interest online savings account, short-term certificate of deposit (CD), or money market account. Otherwise, inflation will erode the value of your savings. Just make sure the rules of your savings vehicle permit you to get to your money quickly in an emergency.
Okay, that is all from today lesson. More and more interesting topic will be discussed in the future. Stay Tune~🤪
Sign Up for our Newsletter and receive a Mysterious Gift by clicking this link: https://bryanandrobertpublishing.com
#financial #financialtips #moneymanagement #wealthplanning
Tip#1. Learn Self-Control
If you’re lucky, your parents taught you this skill when you were a kid. If not, keep in mind that the sooner you learn the fine art of delaying gratification, the sooner you’ll find it easy to keep your personal finances in order. Although you can effortlessly buy an item on credit the minute you want it, it’s better to wait until you’ve actually saved up the money for the purchase. Do you really want to pay interest on a pair of jeans or a box of cereal? A debit card is as handy and takes the money from your checking account, rather than racking up interest charges.
If you make a habit of putting all your purchases on credit cards despite not being able to pay your bill in full at the end of the month, you might still be paying for those items in 10 years. Credit cards are convenient and paying them off on time, helps you build a good credit rating. And some offer appealing rewards. But–except in rare emergencies–make sure to always pay your balance in full when the bill arrives. Also, don’t carry more cards than you can keep track of. This financial tip is crucial for creating a healthy credit history.
Tip#2. Control Your Financial Future
If you don’t learn to manage your own money, other people will find ways to (mis)manage it for you. Some of these people may be ill-intentioned, like unscrupulous commission-based financial planners. Others may be well-meaning, but they may not know what they're doing, like Grandma Betty, who really wants you to own your own house even though you can only afford one by taking on a risky adjustable-rate mortgage.
Instead of relying on others for advice, take charge and read a few basic books on personal finance. Once you’re armed with knowledge, don’t let anyone catch you off guard—whether it’s a significant other who slowly siphons off your bank account or friends who want you to go out and blow tons of money with them every weekend.
Tip#3. Know Where Your Money Goes
Once you’ve gone through a few personal finance books, you’ll realize how important it is to make sure that your expenses aren’t exceeding your income. The best way to do this is by budgeting. Once you see how the cost of your morning coffee adds up over the course of a month, you’ll realize that making small, manageable changes in your everyday expenses can have as big an impact on your financial situation as getting a raise.
In addition, keeping your recurring monthly expenses as low as possible can save you significant money over time. Even if you can swing an amenity-packed apartment now, picking something plainer could let you afford to own a condo or house sooner than you otherwise would. 😘
Tip#4. Start an Emergency Fund
One of personal finance’s most-repeated mantras is "pay yourself first.” No matter how much you owe in student loans or credit card debt, and no matter how low your salary may seem, it’s wise to find some amount—any amount—of money in your budget to sock away in an emergency fund every month.
Having money in savings to use for emergencies can keep you out of trouble financially and help you sleep better at night. Also, if you get into the habit of saving money and treating it as a nonnegotiable monthly expense, pretty soon you’ll have more than just emergency money saved up: You’ll have retirement money, vacation money, or even money for a down payment on a home.
It's easy to put your fund a standard savings account, but these earns almost no interest. Put your fund in a high-interest online savings account, short-term certificate of deposit (CD), or money market account. Otherwise, inflation will erode the value of your savings. Just make sure the rules of your savings vehicle permit you to get to your money quickly in an emergency.
Okay, that is all from today lesson. More and more interesting topic will be discussed in the future. Stay Tune~🤪
Sign Up for our Newsletter and receive a Mysterious Gift by clicking this link: https://bryanandrobertpublishing.com
#financial #financialtips #moneymanagement #wealthplanning
August 2, 2021
Warren Buffett Methodology
Alright, it is lesson time again! We will talk about a great investor of all time which is Warren Buffett by today. Enjoy~😄
Who hasn't heard of Warren Buffett—one of the world's richest people, consistently ranking high on Forbes' list of billionaires? His net worth was listed at $80 billion as of Oct. 2020. Buffett is known as a business man and philanthropist. But he's probably best known for being one of the world's most successful investors. Which is why it's not surprising that Warren Buffett's investment strategy has reached mythical proportions. Buffet follows several important tenets and an investment philosophy that is widely followed around the globe. So just what are the secrets to his success? Read on to find out more about Buffett's strategy and how he's managed to amass such a fortune from his investments.
Buffett's Methodology
Warren Buffett finds low-priced value by asking himself some questions when he evaluates the relationship between a stock's level of excellence and its price. Keep in mind these are not the only things he analyzes, but rather, a brief summary of what he looks for in his investment approach.
1. Company Performance
Sometimes return on equity (ROE) is referred to as stockholder's return on investment. It reveals the rate at which shareholders earn income on their shares. Buffett always looks at ROE to see whether a company has consistently performed well compared to other companies in the same industry. ROE is calculated as follows:
ROE = Net Income ÷ Shareholder's Equity
Looking at the ROE in just the last year isn't enough. The investor should view the ROE from the past five to 10 years to analyze historical performance.
2. Company Debt
The debt-to-equity ratio (D/E) is another key characteristic Buffett considers carefully. Buffett prefers to see a small amount of debt so that earnings growth is being generated from shareholders' equity as opposed to borrowed money.9 The D/E ratio is calculated as follows:
Debt-to-Equity Ratio = Total Liabilities ÷ Shareholders' Equity
This ratio shows the proportion of equity and debt the company uses to finance its assets, and the higher the ratio, the more debt—rather than equity—is financing the company. A high debt level compared to equity can result in volatile earnings and large interest expenses. For a more stringent test, investors sometimes use only long-term debt instead of total liabilities in the calculation above.
3. Is the Company Public?
Buffett typically considers only companies that have been around for at least 10 years. As a result, most of the technology companies that have had their initial public offering (IPOs) in the past decade wouldn't get on Buffett's radar. He's said he doesn't understand the mechanics behind many of today's technology companies, and only invests in a business that he fully understands. Value investing requires identifying companies that have stood the test of time, but are currently undervalued.
Never underestimate the value of historical performance. This demonstrates the company's ability (or inability) to increase shareholder value. Do keep in mind, however, that a stock's past performance does not guarantee future performance. The value investor's job is to determine how well the company can perform as it did in the past. Determining this is inherently tricky. But evidently, Buffett is very good at it.
One important point to remember about public companies is that the Securities and Exchange Commission (SEC) requires that they file regular financial statements.
These documents can help you analyze important company data—including current and past performance—so you can make important investment decisions.
Okay, that is all from today lesson. More and more interesting topics will be discussed in the future. Stay Tune~🤓
#warrenbuffet #stockmarket #stocktrading #investment #valueinvesting
Who hasn't heard of Warren Buffett—one of the world's richest people, consistently ranking high on Forbes' list of billionaires? His net worth was listed at $80 billion as of Oct. 2020. Buffett is known as a business man and philanthropist. But he's probably best known for being one of the world's most successful investors. Which is why it's not surprising that Warren Buffett's investment strategy has reached mythical proportions. Buffet follows several important tenets and an investment philosophy that is widely followed around the globe. So just what are the secrets to his success? Read on to find out more about Buffett's strategy and how he's managed to amass such a fortune from his investments.
Buffett's Methodology
Warren Buffett finds low-priced value by asking himself some questions when he evaluates the relationship between a stock's level of excellence and its price. Keep in mind these are not the only things he analyzes, but rather, a brief summary of what he looks for in his investment approach.
1. Company Performance
Sometimes return on equity (ROE) is referred to as stockholder's return on investment. It reveals the rate at which shareholders earn income on their shares. Buffett always looks at ROE to see whether a company has consistently performed well compared to other companies in the same industry. ROE is calculated as follows:
ROE = Net Income ÷ Shareholder's Equity
Looking at the ROE in just the last year isn't enough. The investor should view the ROE from the past five to 10 years to analyze historical performance.
2. Company Debt
The debt-to-equity ratio (D/E) is another key characteristic Buffett considers carefully. Buffett prefers to see a small amount of debt so that earnings growth is being generated from shareholders' equity as opposed to borrowed money.9 The D/E ratio is calculated as follows:
Debt-to-Equity Ratio = Total Liabilities ÷ Shareholders' Equity
This ratio shows the proportion of equity and debt the company uses to finance its assets, and the higher the ratio, the more debt—rather than equity—is financing the company. A high debt level compared to equity can result in volatile earnings and large interest expenses. For a more stringent test, investors sometimes use only long-term debt instead of total liabilities in the calculation above.
3. Is the Company Public?
Buffett typically considers only companies that have been around for at least 10 years. As a result, most of the technology companies that have had their initial public offering (IPOs) in the past decade wouldn't get on Buffett's radar. He's said he doesn't understand the mechanics behind many of today's technology companies, and only invests in a business that he fully understands. Value investing requires identifying companies that have stood the test of time, but are currently undervalued.
Never underestimate the value of historical performance. This demonstrates the company's ability (or inability) to increase shareholder value. Do keep in mind, however, that a stock's past performance does not guarantee future performance. The value investor's job is to determine how well the company can perform as it did in the past. Determining this is inherently tricky. But evidently, Buffett is very good at it.
One important point to remember about public companies is that the Securities and Exchange Commission (SEC) requires that they file regular financial statements.
These documents can help you analyze important company data—including current and past performance—so you can make important investment decisions.
Okay, that is all from today lesson. More and more interesting topics will be discussed in the future. Stay Tune~🤓
#warrenbuffet #stockmarket #stocktrading #investment #valueinvesting
Business Ideas That Make Money in 2021
Okay, it is lesson time again. We will discuss about the topic of "Business Ideas That Make Money in 2021". Enjoy~🤓
Business#1: Dropshipping
Are you looking to sell products online but don’t have the money to buy and store inventory? Consider dropshipping!
Dropshipping is an ecommerce business model in which you don’t have to manage any physical products.
All you have to do is set up an online store, and partner with suppliers who’re ready to store, package, and ship orders to your customers. What’s more, you don’t need to spend hours on product research because you can use dropshipping apps like Oberlo to find awesome products to sell.
Business#2: Translation
Multilingual people are always in demand, so if you can speak two or more languages, consider starting a small business where you can monetize those skills. You can start looking for clients on websites like Upwork and Flexjobs and slowly build your portfolio. Got only a few hours to spare each day? Translation is one of the best side business ideas to pursue. As you work successfully with more and more companies, you can hire more translators who specialize in other languages to take things off your plate. It’s also a good idea to market your business on social media websites as it can help you reach a wider audience.
Business#3: Website Flipping
Website flipping is among the new business ideas that have got everyone from work-at-home to recent graduates excited. It involves buying an already running website, improving its design and content, and then selling it for a profit. There are quite a few places where you can buy and sell websites to earn a profit. Shopify’s marketplace Exchange, for example, allows you to buy ecommerce websites that you can further improve via content marketing, SEO, and other tactics. Once your site begins to generate more revenue than when you acquired it, you can list it for sale on the marketplace.
Business#4: Email Marketing
Are you good at writing emails? Have you cracked the code for crafting subject lines that people can’t help but click? If so, you can step into entrepreneurship and make money by launching an email marketing business. You can find companies that need help with their email strategy on platforms like PeoplePerHour and Upwork, as well as via cold outreach. Once you demonstrate that skill of enticing recipients, clients will rush to get your services and even agree to the price you quote them (major brownie points if you can help grow their email list). Startup costs include investing in email marketing tools, which will automate many of your tasks.
Okay, that is all from today lesson. We will discuss more interesting topics in the future soon. We will meet again😙 Stay Tune~
Sign Up for our Newsletter and receive a Mysterious Gift by clicking this link: https://bryanandrobertpublishing.com
#businessideas #onlinebusiness #emailmarketing
Business#1: Dropshipping
Are you looking to sell products online but don’t have the money to buy and store inventory? Consider dropshipping!
Dropshipping is an ecommerce business model in which you don’t have to manage any physical products.
All you have to do is set up an online store, and partner with suppliers who’re ready to store, package, and ship orders to your customers. What’s more, you don’t need to spend hours on product research because you can use dropshipping apps like Oberlo to find awesome products to sell.
Business#2: Translation
Multilingual people are always in demand, so if you can speak two or more languages, consider starting a small business where you can monetize those skills. You can start looking for clients on websites like Upwork and Flexjobs and slowly build your portfolio. Got only a few hours to spare each day? Translation is one of the best side business ideas to pursue. As you work successfully with more and more companies, you can hire more translators who specialize in other languages to take things off your plate. It’s also a good idea to market your business on social media websites as it can help you reach a wider audience.
Business#3: Website Flipping
Website flipping is among the new business ideas that have got everyone from work-at-home to recent graduates excited. It involves buying an already running website, improving its design and content, and then selling it for a profit. There are quite a few places where you can buy and sell websites to earn a profit. Shopify’s marketplace Exchange, for example, allows you to buy ecommerce websites that you can further improve via content marketing, SEO, and other tactics. Once your site begins to generate more revenue than when you acquired it, you can list it for sale on the marketplace.
Business#4: Email Marketing
Are you good at writing emails? Have you cracked the code for crafting subject lines that people can’t help but click? If so, you can step into entrepreneurship and make money by launching an email marketing business. You can find companies that need help with their email strategy on platforms like PeoplePerHour and Upwork, as well as via cold outreach. Once you demonstrate that skill of enticing recipients, clients will rush to get your services and even agree to the price you quote them (major brownie points if you can help grow their email list). Startup costs include investing in email marketing tools, which will automate many of your tasks.
Okay, that is all from today lesson. We will discuss more interesting topics in the future soon. We will meet again😙 Stay Tune~
Sign Up for our Newsletter and receive a Mysterious Gift by clicking this link: https://bryanandrobertpublishing.com
#businessideas #onlinebusiness #emailmarketing
July 22, 2021
The Four Must-Watch Movies About Finance
Okay, this is lesson time again. We will discuss about the topic of "The Four Must-Watch Movies About Finance". Enjoy~😆
Movie#1: The Big Short (2015)
Based on the nonfiction book The Big Short: Inside the Doomsday Machine by Michael Lewis, this movie follows a few savvy traders as they become aware—before anyone else—of the housing bubble that triggered the financial crisis in 2007-2008.
The movie is known for its clever way to break down sophisticated financial instruments by, for example, having Selena Gomez explain what synthetic CDOs are at a poker table, or having Margot Robbie explain mortgage-backed bonds in a tub with champagne.
Movie#2: American Psycho (2000)
A violent and thought-provoking thriller set in the backdrop of finance, Christian Bale plays a wealthy investment banker with a dark secret in the film adaption of the Bret Easton Ellis novel. While there is very little actual finance in this movie, American Psycho does shed light on the surreal world inhabited by finance’s elite class, and the utter disconnect they have among themselves and with reality.
Movie#3: Rogue Trader (1999)
This movie tells the story of Nick Leeson, a trader who single-handedly caused the insolvency of Barings Bank, the world’s second-oldest merchant bank. A rising star on the Singapore trading floor, Leeson blew up as quickly as he rose, hiding enormous losses from his superiors in carefully hidden accounts, eventually leading to the mother of all failed trades on a short straddle position on the Nikkei, which ends up experiencing a large sigma move.
Movie#4: Wall Street (1987)
Surprise, surprise: the number one finance movie every professional must see is the Oliver Stone classic that got thousands of college graduates to utter the immortal phrase “Blue Horseshoe loves Anacott Steel” as they rushed to their Series 7 exams. Originally crafted to show the excess and hedonism associated with finance, Wall Street still wields incredible power as a recruiting tool for traders, brokers, analysts, and bankers nearly 30 years after it was made.
Although the movie serves to warn us about the dangers of insider trading, let’s face it, who wouldn’t want to be Bud Fox or even Gordon Gekko (legitimately, of course) and indulge a bit in our greedy side; after all, as Gekko would say, “Greed is good.”
Okay, that is all from today lesson. More and more interesting topics will be discussed in the future. Stay Tune~😚
Sign Up for our Newsletter and receive a Mysterious Gift by clicking this link: https://bryanandrobertpublishing.com
#stockmarket #wallstreet #gordongekko #finance
Movie#1: The Big Short (2015)
Based on the nonfiction book The Big Short: Inside the Doomsday Machine by Michael Lewis, this movie follows a few savvy traders as they become aware—before anyone else—of the housing bubble that triggered the financial crisis in 2007-2008.
The movie is known for its clever way to break down sophisticated financial instruments by, for example, having Selena Gomez explain what synthetic CDOs are at a poker table, or having Margot Robbie explain mortgage-backed bonds in a tub with champagne.
Movie#2: American Psycho (2000)
A violent and thought-provoking thriller set in the backdrop of finance, Christian Bale plays a wealthy investment banker with a dark secret in the film adaption of the Bret Easton Ellis novel. While there is very little actual finance in this movie, American Psycho does shed light on the surreal world inhabited by finance’s elite class, and the utter disconnect they have among themselves and with reality.
Movie#3: Rogue Trader (1999)
This movie tells the story of Nick Leeson, a trader who single-handedly caused the insolvency of Barings Bank, the world’s second-oldest merchant bank. A rising star on the Singapore trading floor, Leeson blew up as quickly as he rose, hiding enormous losses from his superiors in carefully hidden accounts, eventually leading to the mother of all failed trades on a short straddle position on the Nikkei, which ends up experiencing a large sigma move.
Movie#4: Wall Street (1987)
Surprise, surprise: the number one finance movie every professional must see is the Oliver Stone classic that got thousands of college graduates to utter the immortal phrase “Blue Horseshoe loves Anacott Steel” as they rushed to their Series 7 exams. Originally crafted to show the excess and hedonism associated with finance, Wall Street still wields incredible power as a recruiting tool for traders, brokers, analysts, and bankers nearly 30 years after it was made.
Although the movie serves to warn us about the dangers of insider trading, let’s face it, who wouldn’t want to be Bud Fox or even Gordon Gekko (legitimately, of course) and indulge a bit in our greedy side; after all, as Gekko would say, “Greed is good.”
Okay, that is all from today lesson. More and more interesting topics will be discussed in the future. Stay Tune~😚
Sign Up for our Newsletter and receive a Mysterious Gift by clicking this link: https://bryanandrobertpublishing.com
#stockmarket #wallstreet #gordongekko #finance
How to live Like You're Rich, Even When You're Not Yet
Alright, it is lesson time again. We will talk about the topic "How to live Like You're Rich, Even When You're Not Yet" Enjoy~😎
Live Like Rich#1. Fly private for pennies
You know the rich don’t fly commercial. But a private jet can cost thousands of dollars an hour to rent and millions to buy (to say nothing of annual operating costs). Does that mean the rest of us are stuck dealing with the TSA? Not necessarily.
To get the private jet experience without the private jet price tag, book a single seat on a flight with JetSuiteX. The airline’s planes depart from a private terminal, legroom is generous, and snacks and alcoholic drinks are on the house. And it doesn’t cost as much as you might think. When we compared the cost of a round-trip flight on JetSuiteX from Los Angeles to Las Vegas in July 2017, the cost was roughly the same as a first-class seat on a major airline — a little less than $300.😋
Live Like Rich#2. Rent the runway
So you really want to make a splash at your high school reunion but are a little short on cash? You can convince your former frenemies you’ve made it by borrowing, not buying, a killer ensemble from Rent the Runway. A $695 floral cocktail dress by Marchesa Notte can be yours — for a few days — for just $105. Need a designer handbag to complete your look? Bag Borrow or Steal has got you covered.
Live Like Rich#3. Upgrade your wheels for less
Sure, your Camry is a sensible, affordable car. But you’re not going to wow anyone when you’re driving a Toyota. If you’re longing for a vehicle that doubles as a status symbol but are short on cash, consider buying a used luxury car.
For the same price as a new Accord, you might be able to get a gently used BMW or Mercedes. If you’re stuck in a lease on a vehicle you no longer want, you could get a sweet deal on the car of your dreams with a service, such as Swapalease, which facilitates transfers of car leases from those who no longer want them to those who do. Trading up can have some downsides, such as the possibility of higher maintenance costs, but if you must have more upscale wheels this can be a cheaper way to get them.
Live Like Rich#4. Sail away for cheap
Relaxing on your sailboat or yacht might seem like a pastime only the well-off can afford, but a taste of the nautical life doesn’t have to break the bank. Get My Boat is basically an Airbnb for watercraft. You can spend $100 or so for an hour or two on the water, or upward of $10,000 to rent the yacht seen in the James Bond movie Casino Royale. In other words, it’s time to grab your Top-Siders and get ready to head out to sea.
Okay, that is all from today lesson. More and more interesting topics will be discussed in the future. Stay Tune~😜
Sign Up for our Newsletter and receive a Mysterious Gift by clicking this link: https://bryanandrobertpublishing.com
#sailing #richlife #getrich #moneymindset #growthmindset #lawofattraction
Live Like Rich#1. Fly private for pennies
You know the rich don’t fly commercial. But a private jet can cost thousands of dollars an hour to rent and millions to buy (to say nothing of annual operating costs). Does that mean the rest of us are stuck dealing with the TSA? Not necessarily.
To get the private jet experience without the private jet price tag, book a single seat on a flight with JetSuiteX. The airline’s planes depart from a private terminal, legroom is generous, and snacks and alcoholic drinks are on the house. And it doesn’t cost as much as you might think. When we compared the cost of a round-trip flight on JetSuiteX from Los Angeles to Las Vegas in July 2017, the cost was roughly the same as a first-class seat on a major airline — a little less than $300.😋
Live Like Rich#2. Rent the runway
So you really want to make a splash at your high school reunion but are a little short on cash? You can convince your former frenemies you’ve made it by borrowing, not buying, a killer ensemble from Rent the Runway. A $695 floral cocktail dress by Marchesa Notte can be yours — for a few days — for just $105. Need a designer handbag to complete your look? Bag Borrow or Steal has got you covered.
Live Like Rich#3. Upgrade your wheels for less
Sure, your Camry is a sensible, affordable car. But you’re not going to wow anyone when you’re driving a Toyota. If you’re longing for a vehicle that doubles as a status symbol but are short on cash, consider buying a used luxury car.
For the same price as a new Accord, you might be able to get a gently used BMW or Mercedes. If you’re stuck in a lease on a vehicle you no longer want, you could get a sweet deal on the car of your dreams with a service, such as Swapalease, which facilitates transfers of car leases from those who no longer want them to those who do. Trading up can have some downsides, such as the possibility of higher maintenance costs, but if you must have more upscale wheels this can be a cheaper way to get them.
Live Like Rich#4. Sail away for cheap
Relaxing on your sailboat or yacht might seem like a pastime only the well-off can afford, but a taste of the nautical life doesn’t have to break the bank. Get My Boat is basically an Airbnb for watercraft. You can spend $100 or so for an hour or two on the water, or upward of $10,000 to rent the yacht seen in the James Bond movie Casino Royale. In other words, it’s time to grab your Top-Siders and get ready to head out to sea.
Okay, that is all from today lesson. More and more interesting topics will be discussed in the future. Stay Tune~😜
Sign Up for our Newsletter and receive a Mysterious Gift by clicking this link: https://bryanandrobertpublishing.com
#sailing #richlife #getrich #moneymindset #growthmindset #lawofattraction
Financial Market Failures
Alright, it is lesson time again. We will talk about the topic about "Financial Market Failures" in this week. Enjoy~🤓
Financial market failures refer to situations where financial markets fail to operate efficiently, causing lost economic output and reductions in the value of national wealth.
Failure of the price mechanism
When a financial market fails, it means that the price mechanism does not work effectively. A significant function of the price mechanism is to allocate goods and services a price, but in financial markets, the prices of assets may not reflect the full range of costs and benefits associated with owning, or trading in, those assets. For example, failing to establish the ‘risk’ associated with holding a financial asset may cause a divergence between the market (or traded) value of the asset, and the true value. This can distort decision making and lead to a misallocation of resources.
Failure#1: Asymmetries and information failure
The most significant market failure affecting financial markets is the failure to provide sufficient information to make rational choices about the value of an asset. Information failure may affect the buyer or seller, or both parties.
One feature of financial markets in the period preceding the financial crash was the emergence of new types of security, and hence new types of risk. Low interest rates and poor yields from ‘safe’ government bonds meant that global investors were looking for new assets to invest in.
Failure#2: Moral hazard
The failure to understand the level of risk associated with securitised assets was compounded by the assumption by many financial institutions that they were ‘too big or too important’ to fail, and hence would be bailed out should the need arise. This encouraged further risk taking above and beyond a rational level. In this case, the central bank – in its role of lender of last resort – was seen as an ‘insurance policy’ should the financial institutions suffer excessive losses from imprudent lending.
Okay, that is all from today lesson. More and more interesting topics will be discussed in the future. Stay Tune~☺️
Sign Up for our Newsletter and receive a Mysterious Gift by clicking this link: https://bryanandrobertpublishing.com
#financialmarket #finance #financial
Financial market failures refer to situations where financial markets fail to operate efficiently, causing lost economic output and reductions in the value of national wealth.
Failure of the price mechanism
When a financial market fails, it means that the price mechanism does not work effectively. A significant function of the price mechanism is to allocate goods and services a price, but in financial markets, the prices of assets may not reflect the full range of costs and benefits associated with owning, or trading in, those assets. For example, failing to establish the ‘risk’ associated with holding a financial asset may cause a divergence between the market (or traded) value of the asset, and the true value. This can distort decision making and lead to a misallocation of resources.
Failure#1: Asymmetries and information failure
The most significant market failure affecting financial markets is the failure to provide sufficient information to make rational choices about the value of an asset. Information failure may affect the buyer or seller, or both parties.
One feature of financial markets in the period preceding the financial crash was the emergence of new types of security, and hence new types of risk. Low interest rates and poor yields from ‘safe’ government bonds meant that global investors were looking for new assets to invest in.
Failure#2: Moral hazard
The failure to understand the level of risk associated with securitised assets was compounded by the assumption by many financial institutions that they were ‘too big or too important’ to fail, and hence would be bailed out should the need arise. This encouraged further risk taking above and beyond a rational level. In this case, the central bank – in its role of lender of last resort – was seen as an ‘insurance policy’ should the financial institutions suffer excessive losses from imprudent lending.
Okay, that is all from today lesson. More and more interesting topics will be discussed in the future. Stay Tune~☺️
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#financialmarket #finance #financial
June 21, 2021
Financial Literacy
What Is Financial Literacy?
Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. The lack of these skills is called financial illiteracy.
Understanding Financial Literacy🤩
In recent decades, financial products and services have become increasingly widespread throughout society.
Whereas earlier generations of Americans may have purchased goods primarily in cash, today various credit products are popular, such as credit cards, mortgages, and student loans. Other products, such as health insurance and self-directed investment accounts, have also grown in importance. This has made it even more imperative for individuals to understand how to use them responsibly.
Although there are many skills that might fall under the umbrella of financial literacy, popular examples include household budgeting, learning how to manage and pay off debts, and evaluating the tradeoffs between different credit and investment products. Oftentimes, these skills require at least a working knowledge of key financial concepts, such as compound interest and the time value of money.
Strategies to Improve Your Financial Literacy Skills🧐
Developing financial literacy to improve your personal finances involves learning and practicing a variety of skills related to budgeting, managing and paying off debts, and understanding credit and investment products. Here are several practical strategies to consider:
-Create a budget—Track how much money you receive each month against how much you spend in an excel sheet, on paper, or in a budgeting app. Your budget should include income (e.g., paychecks, investments, alimony), fixed expenses (like rent/mortgage payments, utilities, loan payments), discretionary spending (non-essentials such as eating out, shopping, travel), and savings.
-Pay yourself first—To build savings, this "reverse budgeting" strategy involves choosing a savings goal—say, a down payment for a home—deciding how much you want to contribute toward it each month, and setting that amount aside before you divvy up the rest of your expenses.
Example of Financial Literacy
Emma is a high school teacher who tries to teach her students about financial literacy. Through her curriculum, she attempts to educate them on the basics of a variety of financial topics, such as personal budgeting, debt management, education and retirement saving, insurance, investing, and even tax planning.
Emma reasons that although these subjects may not be especially relevant to her students during their high school years, they will nonetheless prove valuable throughout the rest of their lives. Understanding concepts such as interest rates, opportunity costs, debt management, compound interest, and budgeting, for example, could help her students manage the student loans that they might rely on to fund their college education and keep them from amassing dangerous levels of debt and endangering their credit scores.
Similarly, she expects that certain topics, such as income taxes and retirement planning, will eventually prove useful to all students, no matter what they end up doing after high school.
Alright, that is all from today lesson. More and more interesting topics will be discussed in the future. Stay Tune~😎
#financialplanning #financialeducation #financialliteracy
Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. The lack of these skills is called financial illiteracy.
Understanding Financial Literacy🤩
In recent decades, financial products and services have become increasingly widespread throughout society.
Whereas earlier generations of Americans may have purchased goods primarily in cash, today various credit products are popular, such as credit cards, mortgages, and student loans. Other products, such as health insurance and self-directed investment accounts, have also grown in importance. This has made it even more imperative for individuals to understand how to use them responsibly.
Although there are many skills that might fall under the umbrella of financial literacy, popular examples include household budgeting, learning how to manage and pay off debts, and evaluating the tradeoffs between different credit and investment products. Oftentimes, these skills require at least a working knowledge of key financial concepts, such as compound interest and the time value of money.
Strategies to Improve Your Financial Literacy Skills🧐
Developing financial literacy to improve your personal finances involves learning and practicing a variety of skills related to budgeting, managing and paying off debts, and understanding credit and investment products. Here are several practical strategies to consider:
-Create a budget—Track how much money you receive each month against how much you spend in an excel sheet, on paper, or in a budgeting app. Your budget should include income (e.g., paychecks, investments, alimony), fixed expenses (like rent/mortgage payments, utilities, loan payments), discretionary spending (non-essentials such as eating out, shopping, travel), and savings.
-Pay yourself first—To build savings, this "reverse budgeting" strategy involves choosing a savings goal—say, a down payment for a home—deciding how much you want to contribute toward it each month, and setting that amount aside before you divvy up the rest of your expenses.
Example of Financial Literacy
Emma is a high school teacher who tries to teach her students about financial literacy. Through her curriculum, she attempts to educate them on the basics of a variety of financial topics, such as personal budgeting, debt management, education and retirement saving, insurance, investing, and even tax planning.
Emma reasons that although these subjects may not be especially relevant to her students during their high school years, they will nonetheless prove valuable throughout the rest of their lives. Understanding concepts such as interest rates, opportunity costs, debt management, compound interest, and budgeting, for example, could help her students manage the student loans that they might rely on to fund their college education and keep them from amassing dangerous levels of debt and endangering their credit scores.
Similarly, she expects that certain topics, such as income taxes and retirement planning, will eventually prove useful to all students, no matter what they end up doing after high school.
Alright, that is all from today lesson. More and more interesting topics will be discussed in the future. Stay Tune~😎
#financialplanning #financialeducation #financialliteracy
How To Invest Money
Alright, this is another lesson time! We will continue the topic about "How To Invest Money".
Investing allows you to significantly grow your money over time thanks to the power of compound returns.
Compounding can be called the Eight Wonder of the World. Thanks to the power of compounding, a single penny could grow into millions of dollars, given enough time. You may not live that long, but consider the following examples.
Say you start investing when you’re 16…
As unrealistic as it may sound to start investing that young, say you got a small inheritance and you decided to invest it—if you put $5,000 in an account with an interest rate of 7% and contribute an extra $200 a month, after 30 years you’ll have a little over $284,000.🤑
Now that you know why you should invest, how about when to invest?
The answer to that is pretty simple. The right time is now.
Investing sounds more intimidating than it is. Yes, there’s always a potential risk for loss, but there’s an even bigger potential for serious gain.
Doing anything for the first time can be terrifying, especially when it involves your hard-earned cash. But here’s some advice for first-time investors.
Investing for the first time
Investing is like religion—people have some strong opinions and may even belong to one of many sects or schools of thought. Here are a few that come to mind:
-The Doomsday Preppers – these people are convinced our financial system will collapse, so they stick all their money in gold and real estate.
-The Gambling Day-Traders – these are most often the people you see in movies, with their desks or walls covered in monitors and TVs, watching every second of the day and seeing how the stock market changes.
-The Indexers – these are people who simply invest in everything in order to take advantage of the slow and steady increase in the overall value of the markets.
If you already belong strongly to one of the above camps, you may not find the investing resources on Money Under 30 useful. If, however, you have an open mind and are interested in learning simple strategies for successful lifelong investing — without any gimmicks—then read on.
If you’re on the fence about where and when you should invest, make sure you’re taking advantage of guaranteed interest rates. High yield online savings accounts are currently offering up to 1% with FDIC insurance (which means your money is insured by the federal government).
Risk vs reward🙌
It’s true: Investing involves risk. We’ve all heard stories about investors who lost half of their fortunes in the Great Depression or even more recently in the Great Recession. We’ve heard about the Bernie Madoffs of the world and investors who lost everything to a scam.
Although you can never eliminate risk entirely, you can significantly reduce risk if you invest wisely.
The great thing about investing young, is you’re likely investing in longer-term investments—like your retirement account. These investments are less risky than quick-fix stock trading by people who really don’t understand what they’re doing.
While investing can be risky, it’s best to just deal with that risk, because not investing can cost you a lot more money than losing a little money on a bad investment.
Okay, that is all from today lesson. More and more interesting topics will be discussed in the future. Stay Tune~😜
Investing allows you to significantly grow your money over time thanks to the power of compound returns.
Compounding can be called the Eight Wonder of the World. Thanks to the power of compounding, a single penny could grow into millions of dollars, given enough time. You may not live that long, but consider the following examples.
Say you start investing when you’re 16…
As unrealistic as it may sound to start investing that young, say you got a small inheritance and you decided to invest it—if you put $5,000 in an account with an interest rate of 7% and contribute an extra $200 a month, after 30 years you’ll have a little over $284,000.🤑
Now that you know why you should invest, how about when to invest?
The answer to that is pretty simple. The right time is now.
Investing sounds more intimidating than it is. Yes, there’s always a potential risk for loss, but there’s an even bigger potential for serious gain.
Doing anything for the first time can be terrifying, especially when it involves your hard-earned cash. But here’s some advice for first-time investors.
Investing for the first time
Investing is like religion—people have some strong opinions and may even belong to one of many sects or schools of thought. Here are a few that come to mind:
-The Doomsday Preppers – these people are convinced our financial system will collapse, so they stick all their money in gold and real estate.
-The Gambling Day-Traders – these are most often the people you see in movies, with their desks or walls covered in monitors and TVs, watching every second of the day and seeing how the stock market changes.
-The Indexers – these are people who simply invest in everything in order to take advantage of the slow and steady increase in the overall value of the markets.
If you already belong strongly to one of the above camps, you may not find the investing resources on Money Under 30 useful. If, however, you have an open mind and are interested in learning simple strategies for successful lifelong investing — without any gimmicks—then read on.
If you’re on the fence about where and when you should invest, make sure you’re taking advantage of guaranteed interest rates. High yield online savings accounts are currently offering up to 1% with FDIC insurance (which means your money is insured by the federal government).
Risk vs reward🙌
It’s true: Investing involves risk. We’ve all heard stories about investors who lost half of their fortunes in the Great Depression or even more recently in the Great Recession. We’ve heard about the Bernie Madoffs of the world and investors who lost everything to a scam.
Although you can never eliminate risk entirely, you can significantly reduce risk if you invest wisely.
The great thing about investing young, is you’re likely investing in longer-term investments—like your retirement account. These investments are less risky than quick-fix stock trading by people who really don’t understand what they’re doing.
While investing can be risky, it’s best to just deal with that risk, because not investing can cost you a lot more money than losing a little money on a bad investment.
Okay, that is all from today lesson. More and more interesting topics will be discussed in the future. Stay Tune~😜
May 25, 2021
Things Poor People Do That The Rich Don't
Hey, this is lesson time again! We will talk about the topic "Things Poor People Do That The Rich Don't". Enjoy!🤑
Action#1: Rich people read books; poor people watch TV.
While the poor people are enjoying themselves by watching Netflix and chill, rich people are educating themselves, trying to understand things that they couldn’t do before. Although reading books to understand women is still futile. You will have better luck by watching ‘Sex and the city’ or ‘Friends.’
Not every book will suffice for the rich people. Only books that will bring them closer to accomplishing their goals. Books like ‘Rich Dad, Poor Dad’ or ‘The Richest Man in Babylon’ for those that want to increase their wealth. Or ‘Principles: Life and Work’ for those people that want to optimize their life.🧐
Action#2: Rich people get paid based on results; poor people get paid based on time.
Poor people don’t profit from the results from their hard work. Their boss is, or the shareholders of the company are. Yes, even your boss could be wasting his potential. Poor people do get punished if the results are bad. They can get fired. It all depends on how good your boss like you. Or if you are (un)lucky, the way you look. Instead of improving your earning skills, you are improving your ass-kissing skills. How not to anger your boss. How to make the boss like you and give you a raise or how to pretend that you are working without your boss knowing that you are browsing Facebook. You might get more money this way or not be tired at the end of a ‘long and exhausting’ working day, but you won’t get rich!
Action#3: Rich people take responsibility for their own failures; poor people blame others for their misfortunes.
For poor people, it’s always someone else’s fault. They don’t own up to their mistakes. The problem with that is that they cannot improve. They don’t learn from the mistakes. Thinking that way closes all the doors to improving your money earning skills. If you are so perfect, then why don’t you make more money? What can you do to make more money if you are already the best that you can be? You all have used cheap excuses like, the economy is bad or my boss doesn’t like me or the government screwed things up. My mom won’t let me. You are perfect but don’t own more money because the rest of the world is holding you back or Life isn’t fair. Think again. The world is fair. It’s your perspective that is wrong. You earn the correct amount of money. If you didn’t, then someone else would pay you more to work for them.
Action#4: Rich people focus on investing; poor people focus on saving.
You can never get rich by saving. If you make 100K every year, how are you planning on saving to become a millionaire? You need to save all your money you will earn in the next ten years just to become a millionaire. How are you going to live? A man’s gotta eat! Drink normal coffee instead of Starbucks will save you a few dollars. What are you gonna do with that money that will make you rich? Nothing! You will do nothing that will make you rich. If you could become rich with money that you saved, then you can become rich with the money that you are already earning. Do that instead. It’s a lot easier; you already spend years educating yourself about that subject. Focus on increasing your income. Make the income stream bigger, or make more income streams.🤩
Alright, this is the final lesson for the topic this week. More and more interesting topics will be discussed in the future. Stay Tune~🤓
#wealthy #wealth #money #moneymindset
Action#1: Rich people read books; poor people watch TV.
While the poor people are enjoying themselves by watching Netflix and chill, rich people are educating themselves, trying to understand things that they couldn’t do before. Although reading books to understand women is still futile. You will have better luck by watching ‘Sex and the city’ or ‘Friends.’
Not every book will suffice for the rich people. Only books that will bring them closer to accomplishing their goals. Books like ‘Rich Dad, Poor Dad’ or ‘The Richest Man in Babylon’ for those that want to increase their wealth. Or ‘Principles: Life and Work’ for those people that want to optimize their life.🧐
Action#2: Rich people get paid based on results; poor people get paid based on time.
Poor people don’t profit from the results from their hard work. Their boss is, or the shareholders of the company are. Yes, even your boss could be wasting his potential. Poor people do get punished if the results are bad. They can get fired. It all depends on how good your boss like you. Or if you are (un)lucky, the way you look. Instead of improving your earning skills, you are improving your ass-kissing skills. How not to anger your boss. How to make the boss like you and give you a raise or how to pretend that you are working without your boss knowing that you are browsing Facebook. You might get more money this way or not be tired at the end of a ‘long and exhausting’ working day, but you won’t get rich!
Action#3: Rich people take responsibility for their own failures; poor people blame others for their misfortunes.
For poor people, it’s always someone else’s fault. They don’t own up to their mistakes. The problem with that is that they cannot improve. They don’t learn from the mistakes. Thinking that way closes all the doors to improving your money earning skills. If you are so perfect, then why don’t you make more money? What can you do to make more money if you are already the best that you can be? You all have used cheap excuses like, the economy is bad or my boss doesn’t like me or the government screwed things up. My mom won’t let me. You are perfect but don’t own more money because the rest of the world is holding you back or Life isn’t fair. Think again. The world is fair. It’s your perspective that is wrong. You earn the correct amount of money. If you didn’t, then someone else would pay you more to work for them.
Action#4: Rich people focus on investing; poor people focus on saving.
You can never get rich by saving. If you make 100K every year, how are you planning on saving to become a millionaire? You need to save all your money you will earn in the next ten years just to become a millionaire. How are you going to live? A man’s gotta eat! Drink normal coffee instead of Starbucks will save you a few dollars. What are you gonna do with that money that will make you rich? Nothing! You will do nothing that will make you rich. If you could become rich with money that you saved, then you can become rich with the money that you are already earning. Do that instead. It’s a lot easier; you already spend years educating yourself about that subject. Focus on increasing your income. Make the income stream bigger, or make more income streams.🤩
Alright, this is the final lesson for the topic this week. More and more interesting topics will be discussed in the future. Stay Tune~🤓
#wealthy #wealth #money #moneymindset
Things Wealthy People Do to Keep Getting Richer
Alright, back to lesson time. We will talk about "Things Wealthy People Do to Keep Getting Richer" in this week. Enjoy~
1. Have a financial growth mindset.
Wealthy people are incredibly creative when it comes to thinking about business and finding different ways of making money. Mega-successful people set themselves apart because they nurture a financial growth mindset, which changes how you view money and helps you focus on seeing profitable opportunities.
This mindset helps successful and wealthy people believe that there are always bigger and better projects to work on and there’s always more money to be made. They’re open to exploring new ideas. They believe they’re always capable of making changes and creating a positive outcome.🤓
2. Network with other successful people.
Wealthy people understand the importance of surrounding themselves with other successful people. Wealthy people spend time networking with others who are wealthy but also have drive, talent and, most important, the potential to become wildly successful. The rich spend time every month getting to know other like-minded people at conferences, events and gatherings, or just grabbing coffee or a drink with someone interesting.
This is time wisely invested, as it keeps their minds focused on success and helps them meet new people who have fresh and thought-provoking ideas. Doing this also helps wealthy people fill their contact lists with relevant and influential people who can potentially help them (and vice versa).
3. Get outside your comfort zone.
Wealthy people are successful because they have learned that success comes to those who embrace a little discomfort. They understand that the only way to really improve is to push yourself beyond your limits. If you want to become wealthy, you’re going to need to fuel your creative spark, come up with unique business ideas and then take the plunge.
Wealth and success don’t emerge from the safety of a 9-to-5 job. They come from drawing on your inner strength and going for your big dream. All successful business leaders, visionaries and game-changers have gone beyond their comfort zones in order to achieve the ultimate success. The people who will go down in history had the courage to face their fears and take that first step into the unknown.
4. Create multiple income flows.
The more money you have, the easier it is to make more money. And the easiest and fastest way to make more money is to have multiple income streams. That way you always have money coming in and can use the excess income to invest in new income flows. This, in a nutshell, is the primary way the wealthy stay wealthy.
There are two basic forms of income: active income, in which you work for the money you make, and passive income, in which payment isn’t directly tied to the number of hours you work. Passive income includes rental property, dividend stocks, index funds, writing a book or creating an app, all of which will bring in a steady flow of income from sales or royalties.🤑
Alright, this is the end of the lesson. More and more interesting topics will be discussed in the future. Stay Tune~🧐
Bryan Hoo
#money #moneymindset #wealthylife #wealth #wealthmindset
1. Have a financial growth mindset.
Wealthy people are incredibly creative when it comes to thinking about business and finding different ways of making money. Mega-successful people set themselves apart because they nurture a financial growth mindset, which changes how you view money and helps you focus on seeing profitable opportunities.
This mindset helps successful and wealthy people believe that there are always bigger and better projects to work on and there’s always more money to be made. They’re open to exploring new ideas. They believe they’re always capable of making changes and creating a positive outcome.🤓
2. Network with other successful people.
Wealthy people understand the importance of surrounding themselves with other successful people. Wealthy people spend time networking with others who are wealthy but also have drive, talent and, most important, the potential to become wildly successful. The rich spend time every month getting to know other like-minded people at conferences, events and gatherings, or just grabbing coffee or a drink with someone interesting.
This is time wisely invested, as it keeps their minds focused on success and helps them meet new people who have fresh and thought-provoking ideas. Doing this also helps wealthy people fill their contact lists with relevant and influential people who can potentially help them (and vice versa).
3. Get outside your comfort zone.
Wealthy people are successful because they have learned that success comes to those who embrace a little discomfort. They understand that the only way to really improve is to push yourself beyond your limits. If you want to become wealthy, you’re going to need to fuel your creative spark, come up with unique business ideas and then take the plunge.
Wealth and success don’t emerge from the safety of a 9-to-5 job. They come from drawing on your inner strength and going for your big dream. All successful business leaders, visionaries and game-changers have gone beyond their comfort zones in order to achieve the ultimate success. The people who will go down in history had the courage to face their fears and take that first step into the unknown.
4. Create multiple income flows.
The more money you have, the easier it is to make more money. And the easiest and fastest way to make more money is to have multiple income streams. That way you always have money coming in and can use the excess income to invest in new income flows. This, in a nutshell, is the primary way the wealthy stay wealthy.
There are two basic forms of income: active income, in which you work for the money you make, and passive income, in which payment isn’t directly tied to the number of hours you work. Passive income includes rental property, dividend stocks, index funds, writing a book or creating an app, all of which will bring in a steady flow of income from sales or royalties.🤑
Alright, this is the end of the lesson. More and more interesting topics will be discussed in the future. Stay Tune~🧐
Bryan Hoo
#money #moneymindset #wealthylife #wealth #wealthmindset
