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7 financial principles of the richest people! Do not believe any promise

7 financial principles of the richest people


SUMMARY: Don’t be too gullible

If something seems too good to be true,

it probably isn’t true. – ANGEL AYSA

If it seems too good to be true…”

It often happens late at night,

during times when we can’t sleep.

After counting down,

counting down, counting the stains on the ceiling,

and thinking about all the things that need to be done tomorrow,

we still have to give in to the fact that

sleep still doesn’t come soon enough.

We get out of bed,

go straight to the refrigerator to get some snacks,

and then turn on the television.

Under the light of the screen,

the only light in the room,

we scan many channels to find an interesting channel,

which is a commercial advertising channel.

There, in the middle of the night,

we hear someone promising to make us rich

with his proven money-making plan.

He offered.

He sells.

He convinced us that we were just one phone call away from success.

A few days later,

UPS Company 1 dropped off a package on our doorstep.

We tell ourselves that we were caught at a moment of weakness.

We also tell ourselves that it would be better

if others didn’t know that we bought “an offer.”

I intentionally use plural pronouns

because many of us have bought these scams at least once.

The creators of television advertising channels are very smart people.

They know what we want:

we want to be slim (without having to work hard) to look great,

we want beautiful skin,

and most of all we want to be rich.

So they give us “an offer” and sell us a promise.

I want to focus on King Solomon’s lesson on getting rich.

You can see where I’m going to start.

Get-rich-quick proponents often dress up getting rich to make it look nice and… easy.

Just follow a few simple steps and you’ll be able to have it all:

fancy cars, big houses,

gorgeous sailboats parked at your private dock.

Who wouldn’t want all of that?

Will anyone actually make money this way?

Yes, that’s the guy who sold you that “magical” idea.

Anyone else?

My guess is not.


You see,

if it were easy then

Everyone is already sitting on a pile of money.

King Solomon said:

“He who cultivates his fields will have plenty of food,

but he who pursues his dreams will gradually become poor.” (Proverbs 28:19).

Why can we learn some lessons quickly,

while others take so long to understand?

As a child,

there was a time when you touched a hot stove;

That’s enough,

you’ve learned that lesson.

Your hand is burned,

that’s it.

Most of us have difficulty believing when an elder says,

“If it seems too good to be true, then it probably is.”

If we are not careful,

we will be forced to learn that lesson over and over again.

Why do we trust people who sell such things?

They seem to be very “sincere”,

and we can hardly believe that they are deceiving us,

just to put money into their own pockets?

Wanting good things is very normal.

It is understandable that

we will follow those who we have heard have achieved what we desire.

The key here is cognitive development.



The Chinese are famous for the saying:

The older you get, the closer you get.

When my husband and I travel in Beijing,

we often see young people riding motorbikes

with an older person sitting on a makeshift saddle behind their seat.

Such reverence for the elderly is touching and noble,

especially in the context of our society’s tendency to eliminate the elderly.

How do old people gain wisdom by simply living a long life?

In my view,

living a long life allows us to take advantage of having enough time,

so that we eventually learn to distinguish between things

that are too good to be true

and things that are too good to be true to bring real profits.

Listen again to Solomon’s teachings.

“A careless person believes in anything,

but a prudent person thinks every step he takes.” (Proverbs 14:15).

When we enter the field of “professional” investing,

we need to put on the armor of caution and discernment.

I wrote extensively about the commission-based investment brokerage industry in my previous book,

Exposing Wall Street’s Speculative Tactics.

I think some of the things we’ve mentioned here might shed some light on investing mistakes.

No different than the creators of television commercials,

the people sitting in high positions in investment brokerage firms are also very smart people.

They worked with advertising experts to create commercials

and advertising formats that portrayed two emotions that seemed

to encompass all other emotions:

fear and greed.

We worry about making mistakes related to important goals like our retirement goals.

We fear that we will work all our lives

and only make too little money to continue living.

We fear that the overwhelming amount of investment information is too large,

so large that we can hardly understand it.

On the other side of the emotional coin,

what we want is relatively simple.

All advertisers know that,

after a lifetime of hard work,

retiring to a beach house or joining a golf club is tempting.

Dancing with our spouse after a delicious dinner,

and strolling hand in hand along the teak deck of a luxury cruise ship

Too many of us see Americans as money-chasing people.

This is a cruel defamation,

even if the Americans themselves are quick to say it. – ALBERT EINSTEIN,

Brokerage companies,

with the support of their advertising partners,

lead us to believe that with their help we can get these things

and avoid all the above obstacles to the path we’re on.

Once they have created a connection between our hopes and dreams,

binding us to the belief that they can help us,

we have become sheep led to pasture,

But it could also mean going to the slaughterhouse

Once the relationship is solidified,

these financial luminaries will present their products

– investment opportunities

– and they are sure we will buy.

Why don’t we buy it?

We trust them.

The creation of investment products is closely related to the two emotions of fear and greed,

which make us overwhelmed by their polished doors at first sight.

Those are also the emotions

that are intelligently woven through these investment ideas.

Do you notice anything

when your broker calls with an investment idea

that seems absolutely perfect in today’s market?

Note that it’s easy to see this in the following example.

Frank D. is an investor looking for portfolio growth

for his highly anticipated retirement plan over the next five years.

He felt pressure to increase his retirement savings as much as possible,

because once he retired,

he had no plans to reenter the workforce.

He’s been there, done that,

and now it’s time to start reaping the rewards of a lifetime of work.

Over the past few years,

the market has been very good.

Frank’s portfolio has been growing nicely,

but lately things have been up and down.

Frank read in the newspapers about difficulties in the housing market.

Nightly news commentators on television are talking about higher unemployment numbers

and a possible nosedive in the economy.

He heard in radio talks people spouting terms like GDP

(gross domestic product),

CPI (consumer price index),

GNP (gross national product),

ISM (survey) about factory production and orders),

and other numbers he did not understand.

Frank wasn’t sure what they meant,

but he was sure it didn’t look good for his retirement plans.

He called his broker hoping to gain some insight

– who was sure to provide information

– even if he didn’t know about Frank’s condition.

The broker promised to do a little research on Frank’s behalf

and call him back tomorrow.

This looks good to Frank.

Someone is solving this problem for you.

He went to his business

and learned that there was an “expert” studying the matter,

just for his benefit.

Frank’s phone rang at 9 a.m. the next morning,

and his broker said he had discovered

“the right investment program to meet his needs.”

The broker suggested an investment that would give Frank a large profit

if the market was up and would protect 100% of Frank’s money

if the market was down.

This investment program also only lasts 5 years,

which is consistent with the time Frank expects to retire.

What a coincidence.

With that brief description, he said,

“Come join the program.”

The broker plans the sale

– then calculates the commission he earns.

Has Frank done his homework?

Have you taken the time to understand the risks and fees associated

with this “too good to be true” investment program?

Have you asked:

“Are there any constraints”?

Please don’t misunderstand me.

This investment could be good for Frank.

The problem is,

he didn’t do his homework.

He jumped up as soon as he heard something that sounded good.

Is that the way King Solomon did it?

The investment industry is huge.

We are talking about many trillions of dollars.

It’s full of highly skilled salespeople,

often called consultants.

The vast majority of these advisors are paid on commission.

Commissions are generated

by selling investment products to consumers like you.

These “consumers” are investors.

When choosing investment products,

you must do your homework.

Choose wisely,

especially when choosing an advisor,

because just because an investment is recommended,

it doesn’t mean it’s the best choice for you.

One of the things to remember when evaluating such recommendations is this:

there is no perfect investment,

no matter how attractively designed the product.

Actually, investing is a difficult job.

Remember, if it were easy,

everyone would invest.

I want to encourage you to “put it on hold”

until you have developed the ability to recognize false promises,

until you are sure that you can detect false sales practices.

Be careful before making a decision.

It’s amazing how different a situation

or transaction can be after just one or two nights of good sleep.

King Solomon has more advice for us:

“The person who is in a hurry to get rich often has a blind view

to the fact that he will end up in poverty,

and thinks that poverty will not come to him. ”(Proverbs 28:22).

Can you imagine how many of us have lost money

by responding to the salesmen’s tempting scams?

This number can reach billions.

They told us that this opportunity must be decided NOW.

“This opportunity of a lifetime will slip away tomorrow.”

When we consider these things with a relaxed

and rational state of mind,

we can avoid such foolishness.

However, it often happens.

Maybe it’s happened to you too.

You may feel ashamed that you have fallen for such tricks.

Please don’t take my words as degrading you.

I am your companion.

I also once bought a scam that

I thought was very true,

very clever, a bargain,

so I fell for it with absolute trust.

So I don’t preach,

but I share what I’ve learned with you.



If you have money in your pocket,

you will be wise,

handsome, and can sing well. – Jewish proverb.

At one time in my life,

I decided to improve my physique and athletic ability.

I spend two hours a day running,


cycling, and do a lot of weightlifting.

I scrutinize all food and drinks

before they are allowed to enter my mouth.

I became a perfect target for MLM2,

a multi-level marketing company that specializes in

– what? – “food supplements designed to help people achieve better health,

increase and maintain energy,

and maximize nutritional value. ”

I was convinced by the integrity of this company,

by the research behind the products,

and by the fact that I personally used these products

and shared the results with others.

Others, customers will flock to my house to place orders,

and they will make me rich.

Repeat my words:

“If something seems too good to be true,

it probably isn’t true.”


“If it were that easy, everyone would do it.”

Do I need to tell you the results?

Turns out,

it was all just a sales scam.

Sure, these products have flavor very delicious,

but that’s all.

Turns out,

the “sincere” person pulled the trigger me into all of

that was a former assistant district attorney who seemed

to lie every time he opened his mouth.

My income had gone back to zero,

there was nothing in front of the zeros,

all zeros.

More than embarrassed,

I felt like I had lost all dignity.

When I left the MLM,

the person who sponsored me tried to blackmail me,

tried to get me fired from my main job,

and he harassed my family at all hours of the night.

Yes, he’s a former assistant district attorney.

We had to submit this to the court to stop him.

This method worked when our lawyers threatened to take him to court.

I went through all of this purely because of my greed and lust,

I wanted to take a shortcut to wealth.

Yes, greed is a powerful motivator for decisions stupid.

Although greed belongs to a slightly different category,


There is one factor that needs to be considered:

financial difficulties.



To someone who is in a difficult and stressed financial situation,

the offer will be extremely attractive,

not only because it promises to help him get rich,

but also because it appears to be a way to get rich by way

for the dead to get hold of the stake.

This person wants to pay off all the bills

and stop being called by bill collectors.

This isn’t about big houses,

fancy new boats or expensive red sports cars

– it’s about survival.

The late singer-songwriter Dan Fogelberg described

what it’s like to be in this condition.

In the song “Continuous Affairs”,

he wrote:

Climb a mountain at night,

Stuck alone on the rocks,

Every effort to avoid falling pushed me closer to the edge.

Feel the changes that are about to happen before your eyes,

My thoughts are consumed by despair,

I feel like I’m swimming straight up from the water,

Desperately, trying to get some air.

Like me, you may find these words meaningful.

I understand, because I used to be like that.

Fogelberg went on to talk about the times when he had a lot,

and was able to accumulate a lot of wealth.

In the same song, he wrote:

Surround yourself with so much wealth,

Surely I have more than I need.

I don’t know if it’s simply greed

or if I deserve it for trying.

Fogelberg got it.

Both sides of it.

It took a while and after a few mistakes,

but I finally got it

When we find ourselves in difficult financial situations,

it becomes easier for us to be seduced

by investment promises and/or business promises.

Let’s look at a “business opportunity”

that many people looking for an answer to,

any answer,

tend to have.

This is the world of multi-level marketing (MLM).

MLMs make claims of financial growth,

free time, great income, lots of travel,

and many other good things.
that life brings.

Does this opportunity sound like something you’d like?

I used to be like that.

Either way, this opportunity

It also seems too good to be true, right?

In 1979, the Federal Trade Commission (FTC) issued it

Amway decision,

indicating that multi-level marketing is not actually illegal.

However, this Committee found guilty reputation in setting Amway’s selling prices

(by requiring “independent” distributors to sell at low prices)

and overstating income levels.

Another criticism is that multi-level marketing programs are designed

to cause most distributors to fail,

because it incentivizes them to recruit junior distributors,

even when the product has reached market saturation,

thereby reducing revenue

Average income of each distributor

Did Solomon talk about this?

“A cautious person sees it danger and seek shelter,

but simple people just keep going,

[according to that danger].” (Proverbs 22:3).

I believe that the “simple” person continues to follow it

because he wants to believe

there is a way out of financial trouble.

Again, most of us want to believe that people

who promise will help us improve our financial situation are these the honest people”.

In fact, most of these programs are not in your best interest



In an article titled

“Ten Great Scams of Multi-Level Marketing,”

Robert Fitzpatrick wrote:

Unfortunately, the multi-level marketing model is a scam hidden under misleading slogans.

Calling it a “great business opportunity” makes it no more meaningful

than viewing buying a lottery ticket

as a “business venture” and winning the lottery as a “revenue opportunity.”

entered clearly for everyone.”

The network marketing industry’s claims about distributor earnings,

its glorifying descriptions of its “network” business model,

and its prophecies about providing

Outstanding products are as valuable in business as UFO

(unidentified flying object) sightings are in science.

As in all pyramid sales systems,

the income of the distributors at the top

and the profits of the sponsoring companies come from a continuous flow of new investors at the bottom.

Taken at face value by corporate profits

and the wealth of an elite group at the top of the multi-level marketing industry,

this model seems viable to the uninformed,

as it does to all including pyramid sales systems,

before they collapsed or were prosecuted by the government.

The rise of multi-level marketing companies is the result

of deceptive sales based on valuable cultural beliefs,

social and individual needs

and certain economic trends and not on ability to meet all consumer needs.

Fraudulent sales are fueled

by a lack of professional evaluation

or investigation through reputable media.

Therefore, there is a common belief

that multi-level marketing is a viable business investment

or career choice for nearly everyone,

and that the business’s financial success rate is high is comparable

or better than another job or business.

The true voters of MLM are not the consuming public

but are hopeful investors.

Market for homes

This investment increased significantly in the era of economic transition globalization and job cuts.

Promises financial liberation quick and easy,

and the connection between wealth and happiness

Climax is also preached a lot in this market.

Motivation of multi-level marketing focuses on future distributors

not on product promotion to buyers.

Its real product is not long-distance telephone service,

vitamins or lotions,

which are investment claims for home owners distribution is depicted in a deceptive manner,

with images of high income,

requires little time,

small investment and success comes early.

I don’t blame anyone for being a victim these programs.

Because, their attraction is so strong.

Our most legitimate desire for a financial situation better,

and bringing good things to loved ones

Our love has made us the target of any project

What business project?

In my opinion,

the worst outcome of unsuccessful attempts

to improve someone’s situation is a great loss about our emotions.

Often participants are told

that failure is their fault.

They were accused of not trying,

Participants are often humiliated during these sales meeting.



A wise person keeps money in his head, not in his heart. – JONATHAN SWIFT

In fact, I quote Fitzpatrick again,

“For most investors,

it turns out multi-level marketing is a statement did not win the financial prize.

There are less than 1% of distributors in sale

Multi-level marketing used to make a profit,

and the percentage of people

who made a steady living through this business was a much smaller percentage.”

Don’t feel bad, though.

You are not alone.

You see, when it comes to making money,

whether through saving

or looking for investment opportunities,

we have a lot to learn,

and the wise teachings of King Solomon can help us.

Finding ways to improve your financial life is not a crime.

The sin is that we let greed cloud our judgment.

Or smart

Be good, like Solomon taught Abidan.

The signs that distinguish a good investment tend to be a bit sad and predictable,

but reliably and consistently effective

Real. The investment industry continuously brings new investment ideas

(people often call it extravagance)

because we tend to think that what is new is better.



Consider all the “new” restrictive relationships that came on the market in the 1980s.

Oh, they seemed good.

How many of those relationships still exist today?

The answer is almost nothing.

The only things that fall out of these investments are lawsuits.

Then, in the 1990s,

the financial investment industry convinced us that,

with the advent of technology,

the world had changed.

The industries that created money for 100 years are now outdated.

The smart money has been invested almost entirely in technology stocks.

In their haste to sell us

– and they sell us too

– the latest industrial products that are sure to make us all rich,

they must be forgetting the rules of mathematics and Simple investment principles.

Usually when prices go too high,

they always tend to go down.

We call it “returning to the mean price”.

I remember attending a dinner meeting where

I heard investment executives say “this time will be different,”


that – remember – “[old] statistical mathematics has changed.”

says the old way of investing,

the way of people like Warren Buffett,

is now conservative and will be permanently replaced

by the establishment “new” economy.

Do you believe that is arrogance?

Last time I checked

In fact, high-tech stocks fell extremely low starting in March 2000,

and Warren Buffett – the old conservative

– still is one of the two richest people in the world.

Many investment advisors in Brilliant Wall too.

But here’s the paradox:

They got rich thanks to selling

these discarded things.

Finally, when I wrote about this in 2008,

we were suffering due to the complete downturn in the mortgage and real estate markets product.

Once again, Wall Street has done it.

They pack and repackage the mortgages away,

which they know of no way to recover capital into new favorite investment products.

They “buttfuck” those pieces of trash so far from their original shape,

So much so that investors don’t know what they are buying anymore.

They went so far that this nonsense gets a AAA rating.

I can assure you, we will see

More lawsuits like this in the coming years.

When I write about this,

the Bear Stearns company is no more,

as it was Morgan Stanley buys it back with help from the Federal Reserve.

Lehman Brothers recently declared bankruptcy,

and Merrill Lynch is in the process of being sold to Bank of America.

However, if we take the time to learn from mistakes

This mistake, we can find valuable things in good now.

For example, throughout this process, conservatives persist

How did Long invest their money?

Don’t go into detail

you can learn for yourself by reading their books.

They buy into the

The company has been transparent for decades,

companies that houses

This investment clearly understands what

they are selling and they have made a profit

How profitable?

These shrewd investors avoided early products “new” investment.

At the very least,

they scout out the latest and greatest investment ideas

with a lot of skepticism.

Maybe you feel overwhelmed

and find yourself without experience in this field, therefore cannot distinguish on their own

The difference between a healthy investment

(or business idea) and a bad investment (or business idea).

Do not be afraid.

In the next chapter

Following, we again learn the wisdom of Solomon regarding

Using investment advisors wisely.

Even, If you need to find a consulting group,

we also need to accept it stay awake clearly.

Thank God, we have a wonderful teacher always ready to help us stay on our path.


Ask yourself

1. Are my mentors,

people I respect very much,

participating in the investment program I am planning to join?

2. This investment program (or business opportunity) seems just a little too good, doesn’t it?

3. I was told that this program is quite pleasant,

I wonder if it is true?

4. Has this investment program or business idea been around for a long time?

5. This feels like a new/innovative way to try to win in the market, I wonder?


Things to do wisely

1. Take time to consider your decisions.

Ask questions of yourself and those who “know it all.”

2. Skepticism can be a very powerful ally.

3. Don’t be afraid to be a financial skeptic.

4. When new opportunities seem interesting,

it’s safer to use the tried-and-true method.

Before investing in something without a track record,

decide if you can afford to lose money.



PROVERBS28:19 – Those who cultivate their fields will have plenty of food, but those who pursue their dreams will gradually fall into poverty.

PROVERBS 14:15 – A simple person believes in anything, but a cautious person thinks about their every step.

PROVERBS 22:3 – A cautious person sees danger and finds a place to hide, but a careless person still follows it and suffers because of it.

PROVERBS 1:19 – Such is the end of all those who pursue unjust results [greed]; it takes the lives of greedy people.

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