Start point for financial literacy?

[LowKeyParticipant 702]

What resources (books, videos etc..) would you guys advice for a beginner who still looking to grasp on how the financial world works as a starting point?

As always suggestions are greatly appreciated

Cheers

LK~

Don't let defeat, defeat you; Let defeat be your greatest teacher.

[NotMyProblemParticipant 965]

Check out hidden secrets of money by Mike Maloney on youtube.

First you must understand how our money system works.

Then you will understand why you can’t just save money, you have to invest it into assets.

As for the dollar, who knows… 5, 10, 15 years? It’s actually not that big of a deal, the worlds not gonna end, just change. Alternative systems are already being built by the IMF, the BRICS, and now thanks to Bitcoin we have digital scarcity.

Think real estate. Mortgage stays the same, rent always goes up. I own a duplex. I live in one side, rent the other side. The rent pays almost the entire mortgage. My portion is $110. Livin cheap. Best investment I ever made.

Not my property... Not my problem

[Junk109Participant 9]

The place where I started would be the Intelligent Investor by Benjamin Graham.

It is by far the best book on the fundamentals of investing I’ve ever read, at least for a starting point.

That’s of course if you’re looking to read about investing with your own finances, but if you want to read about how things work on a macroeconomic scale, I’d recommend you read works by Murray Rothbard, Milton Friedman, Thomas Sowell, Friedrich von Hayek, and Ludwig von Mises.

If you don’t know where to start with any of those authors, type their names into YouTube and I’m sure you’ll find something.

Hope I could help!

[NotMyProblemParticipant 965]

The number one rule to financial independence is to produce more than you consume.

Shrink your expenses down as low as you can comfortably go. Stay simple.

On the other side, make as much money as you can.

Save as much as you can and invest it.

It’s not how much you can make, its how much you can lose… Be conservative.

A MGTOW Capitalist is born.

Not my property... Not my problem

[LowKeyParticipant 702]

NotMyProblem wrote:

Check out hidden secrets of money by Mike Maloney on youtube.

First you must understand how our money system works.

Then you will understand why you can’t just save money, you have to invest it into assets.

As for the dollar, who knows… 5, 10, 15 years? It’s actually not that big of a deal, the worlds not gonna end, just change. Alternative systems are already being built by the IMF, the BRICS, and now thanks to Bitcoin we have digital scarcity.

Think real estate. Mortgage stays the same, rent always goes up. I own a duplex. I live in one side, rent the other side. The rent pays almost the entire mortgage. My portion is $110. Livin cheap. Best investment I ever made.

Actually saw your thread and is watching his chapter 1-6 as we speak

I did a little background research about this guy, Mike Mahoney, and I did see one site where the blogger seems to be in disagreement with him saying that…

It’s also interesting to note that the creators of this video are ultimately selling you a product. They’re selling you gold and silver as seen here on their website. And they’re using fear to drive you into that product. But look what they want from you. After countless hours of video trashing fiat money they’re asking that you pay THEM with…US DOLLARS. If this whole thing doesn’t set off a great big red flag for you then I don’t know what to say. Good luck?

Courtesy of: http://www.pragcap.com/debunking-the-biggest-scam-in-the-history-of-mankind/

Take note that I have not fully read the whole post yet

However, from what I watched in Mike’s videos so far, he seems to be on point with his claims. The video was uploaded 2 years ago and the economy is collapsing as of this year with a potential war against ISIS.

@junk109 Yes, I do have the intelligent investor and will check out the rest of your suggestions – thanks for your input.

Don't let defeat, defeat you; Let defeat be your greatest teacher.

[Crazy CanuckMember 4215]

One thing is for sure since you’re single you should NOT own a home especially these days where there is a housing bubble. If you want to buy a home wait until housing prices fall dramatically. Peter Schiff has some good books.

How an Economy Grows and Why It Crashes http://www.amazon.com/How-Economy-Grows-Why-Crashes/dp/047052670X/ref=sr_1_2/191-1908174-0519808?s=books&ie=UTF8&qid=1449805800&sr=1-2&refinements=p_27%3APeter+Schiff

The Real Crash: America’s Coming Bankruptcy – How to Save Yourself and Your Country http://www.amazon.com/Real-Crash-Americas-Bankruptcy-Yourself/dp/1250046564/ref=sr_1_1/191-1908174-0519808?s=books&ie=UTF8&qid=1449805800&sr=1-1&refinements=p_27%3APeter+Schiff

"If pussy was a stock it would be plummeting right now because you've flooded the market with it. You're giving it away too easy." - Dave Chapelle

[Anonymous 6]

Zerohedge.com will teach you a lot.

[RoyDalParticipant]

I recommend this book.

Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

by Robert T. Kiyosaki

Society asks MGTOWs: Why are you not making more tax-slaves?

[NotMyProblemParticipant 965]

LowKey wrote:

Actually saw your thread and is watching his chapter 1-6 as we speak

I did a little background research about this guy, Mike Mahoney, and I did see one site where the blogger seems to be in disagreement with him saying that…

It’s also interesting to note that the creators of this video are ultimately selling you a product. They’re selling you gold and silver as seen here on their website. And they’re using fear to drive you into that product. But look what they want from you. After countless hours of video trashing fiat money they’re asking that you pay THEM with…US DOLLARS. If this whole thing doesn’t set off a great big red flag for you then I don’t know what to say. Good luck?

Yes no doubt he is selling you a product. The guy traveled to Egypt and obviously spent a LOT of money producing those videos. No one does that s~~~ just because they are a nice guy. Those youtube videos are a commercial for his products.

That being said, just because he is selling you something doesn’t mean it’s some sort of scam. If that were the case then every commercial on TV is a scam. It’s only a scam if you lie or try to sell a product you do not personally believe in.

Now as for the fear part, it’s not really scary if you understand what is happening. As for him accepting fiat dollars, well yea what else is he going to accept as payment?

The way these bullion dealers work is they do not sell you gold/silver that they have sitting in a vault.. They take your money and then purchase the bullion and ship it to you after the fact. They do not sit on a pile of gold, outside of what they own personally.

What happens is a bunch of people purchase small amounts of gold, and then he just goes and buys a big amount to satisfy all those customers. You can get it cheaper if you buy in bulk. So the way they profit is by taking a small percentage of the top.

Every business needs fiat currency to pay it’s bills. Now if he has an excess amount of FIAT at the end of the month, then that’s his profit to spend or invest into whatever he likes. The way I see it, he is providing a valuable service to society. Everything he talks about in his videos is factual..

Not my property... Not my problem

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