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@2560247

One final step requires patiencesmile smilie

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@2560249

Why can be excessivesmile smilie

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Money is basically just an idea, it has real world implications, but it's a made up thing. Wealth is reflected in money, but it isn't created by money, it's created by obtaining something of lesser value, changing it into something of greater value and selling it.

I take machines that don't work and turn them into machines that do work, which makes them more valuable to their owners, so they're willing to pay me for that.

But when I sell parts, I obtain them at a wholesale price and sell them at a retail price. Finding a person who wants an item makes the item more valuable, because if nobody wants something it has no value. Therefore the act of finding a customer for a product creates value in that product, a difference that is reflected in its price.

So, if you want more money, the question you need to ask yourself is what can I transform into something of greater value that people want? And remember: nobody earns any money until somebody sells something.

In terms of how money is created though, nobody has any money until somebody borrows it into existence. When you get a bank loan, only a small fraction of it is money they had on deposit, most of it was "created" out of thin air through fractional reserve banking. Same with government debt, central banks don't have access to some limitless pool of money, they make it up out of nothing, which is why I say money is just an idea.

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@2589558

I agree your focus there ,,

I have known several successful people and they all have one thing in common: they don't know how they did it. They only know that it took a lot of effort. So if somebody else can not duplicate their success, they assume it must be because he is lazy.

If I were advising a young person, I mean a kid, I would advise to get a guitar and learn to play it very well. There are guitar players you never heard of making a million bux a year. But they don't know anything else; music is the only thing they ever studied.

My advice to teens is to forget about college: it's not worth the effort and not anywhere near worth the cost. Get a simple job and a cheap pad within walking distance. No car. Save half of everything you make. Yes, half. If you get ten bux an hour and save half, you will have a hundred grand in only ten years. There is no other plan that will give you a net worth above zero in only ten years.

Buy silver ingots, so your hundred grand will not suffer from inflation, and hide them at home so no bank can steal them from you. Yes, that happens.

During that ten years, you study investments at the public library. And what you do after that is up to you. Does this work? Andrew Carnegie worked five years and put his savings into a tech stock: telegraph. His hobby in later years was building concert halls and libraries.

Where's the money Lebowski?! Where's the money Shitheeeead!"

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