The 5 Laws of Gold— Third Law
Money Is Smart, Keep It Away From Fools
The blessing about advice is— it is free.
The cursing about advice is— it is free.
Basically, advice is freely given out by anyone and any person who will listen to it, to include this blog. While this is most certainly a good thing, it can also be a bad thing.
When it comes to the matters of money, you should be very careful of whom you receive your financial tips. Surely, you know many of nice people, but most of them are not qualified to give you financial advice. This is not to say that these people are ignorant, they are not. I would never claim or say such a thing. However, you do need to recognize the difference between intelligence and financial intelligence. There are many smart people who are not-so-smart in the areas of finance.
I can quickly think of seven reasons why you need to safeguard your money from the advice of fools. Remember, I am not calling your friends fools, for sake of this blog, it is just easier to use this idiom. Let’s see if we can hash this out a bit.
1. Most Investment Advice Is a Dangerous Half-Truth
I won’t insult you by making this section long. However, you should probably stop asking janitors about stock advice. No, there is nothing wrong with janitors. This world needs them in a major way, but get your stock tips from stock professionals. Does this make sense?
2. All Investing Ideas Don’t Fit All People
Despite what all the investment experts selling seminars and courses want you to believe, there aren’t any secrets to investing. Trust me, I am one of these seminar people, I know what we say. I can assure you I don’t participate in this rubbish. If you are retired, you better NOT be investing like me. I’m not even 40. Far from it. I did; however, retire when I was 29, so I may be someone qualified to give you a tip or two.
3. Everyone Has A Conflict of Interest
The only person 100% committed to your pocketbook is you. Everyone else has a conflict of interest. Even me. I will help, can help, but I am always at a conflict of what you know and what I know— on top of what is best for you. If you only know very little about stocks or real estate, I can only give you safe and secure advice. See, I can only help you to the level I find our conflict.
4. You Can Delegate Authority, But You Can’t Delegate Responsibility
Umm, sir. Ma’am? Your financial advisors or mentor only has authority to advise you, the responsibility is all on you. You cannot give to them what you will not do yourself. If you take a loss, the loss happens in your household, not theirs. Careful with this one. Make sure you learn as well as delegate authority.
5. You Need To Get Smarter With Every Transaction
As you count your money or lose it, you need to gain knowledge. Your financial literacy level should be operating on compound interests just as your return of investments. Learn every time you get up to the plate and bat, don’t just swing and make no adjustments.
6. Financial Intelligence Is Something You Can’t Lose
When you learn financial intelligence, no one can ever take it from you and the world begins to slow down for you. Financial Intelligent people don’t need degrees to win or be rich, the entire world is at the mercy of people who possess high levels of financial intelligence.
7. The Matrix Has You! Financial Intelligence Gets You One Step Closer To Unplugging
You are going to hear me elude to the Matrix a lot. No, I’m not a conspiracy theorist. Yes, I am incredibly aware and self-aware. You live in a world of rules. Most of these rules are subjective, very few of them are objective. Anything that is subjective has been created by men. Only winners get to create rules and winners always create rules that allow them to remain in a winning position, and for losers to remain in losing positions, but without many complaints.
What does this mean? You are more than likely following a ton of rules that are meant to secretly uphold your poverty-condition. Therefore, upholding their winning condition. There is nothing wrong with winners winning. Nothing at all. This is not a liberal blog in which I try to get you to lean to the left side of political view. I am simply informing you that if you are not winning in life, consider that the rules you are living under are upholding your poverty condition. Winning has a pathology. Winners are financially intelligent. If you become financially intelligent, you will have half of what you need to unplug from the Matrix because winners aren’t as plugged in as everyone else.
I know. Crazy, young guy talking all crazy. Those who needed to hear– heard.
One of the greatest books in the world that exist on this topic is the “Richest Man In Babylon”, by George S. Clason. In this book, he lists 5 Rules of Gold. I am going to share them with you and then break each one down for you. Money is your slave! Fear it no more.
The 5 Laws of Gold
Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling. This rule encourages cautious investing or at least encourages the investor to at least be informed. In today’s era, one can turn to the internet for plenty of investing information.