I save money because I don’t ever want the lack of money to cause me to make bad decisions. – Miriam Joy
One of my favorite things to do is dance.
If I could get paid to do it, I would.
It’s great exercise and helps me relieve stress. I am better able to manage my life and all the things that come my way. And let’s not forget that exercise gives you endorphins, which makes you happy.
And they make you happy. 😊
However, as much as I like to dance and earn money, I have
my limits.
If you have ever seen the movie, They Shoot Horses, Don’t They?, then you know what I’m talking about.
The film is based on the 1935 novel of the same name written
by Horace McCoy. It starts out in 1932. The Great Depression is only a few
years in America’s rearview.
The film start’s just as the title says. By putting the hurt
animal out of its misery.
During this time period, the country is still reeling from
the stock market crash of 1929. Therefore, smelling opportunity, an unscrupulous
emcee runs a Depression-era dance marathon for a down on their luck group of
characters. The contestants are competing for the grand prize of $1,500
dollars.
What ensues is sheer madness. The contest slowly descends
into chaos as each contestant is eliminated one-by-one. It is a test of wills
where it is all about the survival of the fittest.
MONEY IS A MOTIVATOR
I like to calculate the opportunity cost or hours of work
compared to the cost of purchasing an item.
For example, if you make $30 an hour and purchase a concert
ticket for $150, then you have to work 5 hours to pay for that purchase. You
have to ask yourself, if that ticket is worth 5 hours of your time? Are you
willing to work that long to buy that ticket?
You can use this formula for anything.
I used this formula as motivation to stop buying clothes and
miscellaneous items.
After reading several books, I was motivated to stop shopping and pay down and off my credit card debt and personal loans.
That was my way of putting my debt of its misery. Paying it
off!
I started saving over $10,000 a year. That’s money in the
bank. I needed that amount to be able to sleep at night. I call that my sleep
number.
WHAT IS YOUR SLEEP NUMBER?
My sleep number is $10,000.
What is a sleep number?
Well, I feel that it is the amount of money you keep in
savings so that you can handle emergencies such as a medical bill, dental work,
or a flat tire and can sleep at night without worrying how you’re going to pay
your bills.
If you could give yourself a number like that, what would it
be?
Calculate it.
For you to sleep at night without having nightmares that the
bill collector is calling and to stop tossing and turning, how much would it
take? $2,500, $5,000, $10,000, or $20,000?
That’s your sleep number.
ATTRACTING MONEY
You know I am all for attracting good things to yourself.
You do this with your behavior.
I love magnetism. That’s why I named this blog Greenbacks
Magnet.
It is the Law of
Attraction which uses the power of the mind to translate whatever is in our
thoughts and materialize them into reality.
Remember that like attracts like.
Athletes like other athletes.
Musicians like to work with other musicians.
Academics attracts other academics.
Money attracts money.
You see my point. If you want something, then you have to
find a way to attract it to you. What are you going to give, to get?
Case in point, you can earn money in a high yield savings
account. First, you must have some money to put in the account. That money will
be used as the principal to attract interest. The higher the amount, then the
more money you attract and ultimately earn.
Broke attracts nothing.
That is why you save. To not be broke.
In the book You are
broke because you want to be, the author lists all types of reasons why
people are broke. Mostly it has to do with spending habits.
He even said saving coins in a huge gallon milk jug could
allow you to save $400 a year. If you do it consistently and save all your
coins, that is, instead of spending them.
HABITS IS WHAT MAKES YOU RICH
Your behavior is the number things standing between you and incredible
wealth.
Habits equal riches.
You limit the spending and build your wealth. That is how it
is done.
Keep yourself healthy and agile. The wealth building years
when you are young can set the foundation for the rest of your life. This is the time to get the skills and
training you need to earn.
That’s when you’re loose like a mongoose.
For those of you that remember Rikki-Tikki-Tavi by Rudyard Kipling, you got to read about the actions of a mongoose. Quick and deliberate. Single-minded focus. That is what it takes to build wealth. You keep hammering at your target until you nail it.
Your number one asset is your ability to work. That is what
you will use to earn your fortune. Stay nimble. Move out West or where ever the
jobs are.
It is your duty, responsibility, and obligation to be
successful. Habits is torch that blazes the trail to wealth. If you want
financial freedom, you have to work for it.
No one is going to hand it to you. But it’s out there. And
it’s yours for the taking.
To recap…
Before making a purchase, figure out how many
hours you have to work to get it
Calculate your sleep number
Attract money by earning and saving money
Habits make you rich so practice the habit of
saving
If the goal is to have financial freedom, then it is worth
the sacrifice.
I have been reading nonstop about personal finance. It has
been a heck of a ride. The roller-coaster of emotions that goes along with it
is not so scary when you focus purely on the numbers.
Most experts will say to save 10-20% of your income, but
that still means working a 30+ career until being free. I wanted to get off the
hamster wheel earlier or at least whenever I wanted instead of when only I
could.
I thought wouldn’t it be great to focus on getting out of
the rat race sooner. Why not just focus on a certain time period? I picked 10 years because that is a good
chunk of time for most people to get themselves in the head space to understand
that discipline is in order to achieve this lofty goal.
I just narrowed down my focus to only looking for
information pertaining to how to become FI in a decade.
Here is what I found along the way.
THINK 10
They say to think big. So, I say think 10.
I began to look for information on being financially free.
For instance, saving 50% of your income and getting a return
of 5% or more could net you over $500,000 and allow you to become FI in 15
years. Not bad.
If your living expenses are under $40k a year, then you can
make that work for you. Therefore, the more you spend, then the more you have
to save. It is just that simple.
Saving 65% of your income with a return of 7% or more could
net you over $600,000 and allow you to become FI in about 11 years.
Even better, saving 70% your income with a return of 7% or
more could net you over $700,000 and allow you to become FI in less than 10
years. Yahtzee!
I found a savings rate early retirement chart on Clark Howard’s website. He generally decreased the number of working years by four once you hit a 40% savings rate.
TAKE YEARS OFF THE RETIREMENT SCHEDULE
After, I did my research, I also found the following:
By saving 60% of your income, you can take 1
year and 6 months off every time you work 1 year.
By saving 70% of your income, you can take 2
years and 4 months off every time you work 1 year.
By saving 80% of your income, you can take 4
years off every time you work 1 year.
By saving 90% of your income, you can take 9
years off every time you work 1 year.
This is what Jacob Lund Fisker details in his book Early
Retirement Extreme.
Saving a high percentage of your income is literally
allowing you to sock away years of retirement income at a faster rate.
That would mean based on the above statements, the
following:
Saving 60% of your income for 7 years, allows you to knock 11.2 years off your retirement schedule.
Saving 70% of your income for 7 years, allows you to knock 16.8 years off your retirement schedule.
Saving 80% of your income for 7 years, allows you to knock 28.7 years off your retirement schedule.
This would mean retiring in your 30s or 40s as opposed to
your 50s or 60s. However, working is relative. If you truly have something that
you enjoy doing, then it is not an issue. FI is about finding work or
activities that you want to do without having to worry about punching a clock
and getting paid.
WHAT IS FI?
It is the ability to make work optional.
Your assets are now generating enough cash flow for you to
exit stage left out of the workforce.
I found this great chart that defines it eloquently.
Image credit: doubledebtsinglewoman.com
HOW AND WHERE TO SAVE
Unfortunately, it is not enough just to save, but to have a
target.
Most reading I have done on FI includes putting money in
index funds, taxable accounts, savings, checking, and money market accounts,
For example, J.P. Livingston of TheMoneyHabit says she was saving about 70% of her income and then split that up into different categories.
Of that 70% of her income, she put 60% in savings and the
remaining 40% into investing.
A place like the Vanguard Total Stock Market Index Fund
(VTSMX) or EFT (VTI) should work for you just fine.
All this means that you must not only invest, but put a high
portion of your income aside to actually be able to hit the eject button on
your job. After all, you need income to live off of and investments typically
come with rules like you are unable to withdraw any funds before age 55 to 59 ½.
I continually read about those that have retired early and
reached financial independence. The common denominator is this: savings.
What can I tweak? How can I do better? I always strive for
abundance. After I achieve one goal, then I make a new goal.
Once I got serious, I started socking away 41% of my income.
My next move was to get to 50% of my income and eventually work my way up to a 75%
savings rate.
I have also noticed that high yield savings accounts rates
have gone up recently. There are accounts now paying over 2% interest. That’s
right. You can earn 2% just for parking your money. The more you save; the more
you earn. That is the same amount some people are receiving in annual raises
and cost of living increases!
Do not let anyone tell you that this is not possible. Forget
the naysayers. There is a saying that the elephant keeps walking as the dogs
keep barking. Do not let fear, others opinions, or lack of effort keep you from
reaching your goals.
You are the MVP on your Financial Freedom team. Go for the
goal. Always.
“There are only the pursued, the pursuing, the busy and the tired.” ― F. Scott Fitzgerald, The Great Gatsby
For many people out there I am sure you have heard of shows like Flip this or Sell that house. Many of them are broadcast on A&E. One of these gems was a show called Flipping Vegas.
The show starred real estate investor Scott Yancey and his
interior designer wife, Amie Yancey. What made this show stand out was the
outrageous personality of its star, Scott Yancey. He could regularly be seen
losing his mind over the tiniest of overages to his immensely short time table
he gave to flip any house. It made for great television. I felt it was the
funniest of all the house flipping shows out there.
Scott would regularly drive around in his Porsche (he loves
cars) and go from house to house that he had invested in to inspect properties.
His wife, Amie, could usually be found at places like Walker Zanger to purchase
materials for all of the homes they were flipping. The couple were constantly
bickering about house design, location, and finances. They were a riot.
What I remember most is that Scott was always very concerned
about the budget as where Aime was not. She believed that a well-designed home
sold itself. However, Scott did not always agree. He would regularly have a fit
if she spent extra money or over-improved a house. It was hilarious.
“When you have a
foreclosure sign on the house, it’s saying, ‘Vandals, homeless: Welcome. Please
strip it,’ ” Scott told The Las Vegas Review-Journal of the properties he
purchases. “We’re in a race to get it done and get it sold.”
So, without further ado, I give you what it’s like to flip
Vegas.
WHAT IS FLIPPING VEGAS?
“The houses that are the worst to buy are the ones we save for TV because we know there’s a great storyline with it.” – Scott Yancey
Flipping Vegas was an American reality television series that aired in the United States on the A&E network for 5 seasons from June 18, 2011 – September 27, 2014. Featuring the husband and wife team, Scott and Aime Yancey. The couple would fix and flip homes in Las Vegas, Nevada. It aired on Saturdays. And ran for 41 episodes.
Meet the real estate players
Scott and Aime
Vegas was hit hard by the housing crash of 2007-2009. Where
most saw disaster, Scott saw opportunity. He would buy low-priced and
dilapidated homes in Vegas, fix and flip them quick for a profit.
Setting a quick timetable of about 4 weeks and even shorter budgets of approximately $10,000. A quick fix schedule and low budget is called flipping. Spend less money equals more or maximum profit. His opposite is Aime, who buys high-end finishes that are not in the budget, without telling Scott. Let the fights over the checkbook begin.
Here is some of the banter on this show.
Real estate agent: Can you all this done in a week? It’s a
lot to do?
Scott: I turn and burn these suckers!
Aime: Scott, you’re so cheap.
Scott: Once again you are unconcerned with deadlines and bottom
lines.
Aime: Give the house a great design.
Scott: This house is an ugly girl. Put lipstick on her, we’re
not giving it plastic surgery.
That’s Scott, always keeping it classy. He works hard and
lives his life fast. He likes quick wins and flips. I’ll give him this, at
least he always kept it real.
In an interview with the Vegas
Sun, Aime said, “I mean, I feel like I’m giving birth to each of them. I
know Scott has timelines to turn them around fast, and we butt heads. He sees
the bottom line, and I fall in love with the transformation. I can’t stop
myself; I really need rehab for designers.”
They generally work with the same contractors and real estate agents to sell their houses. In addition, will also have multiple trades working on one house at the same time to keep up with Scott’s insane open house schedule (think buying a home, renovating it, and putting it on the market in 7 days). And yes, there was an episode that he tried to do this.
The show got is start from a conversation Scott had with some show business friends where he recounted how he had to pull out his Glock (he’s licensed to carry) on some homeless people that came at him with needles in a boarded up house. They recorded some footage of him (Scott paid for their expenses) at work and it got into the hands of someone at Lionsgate. That is how his reality show career got started.
Finance Lesson 101: You have to spend money to make money.
ALWAYS EXPAND
Expand. Never contract. – Grant Cardone
One of the best times to start a business is during a
downturn. Scott is a businessman who owns a real estate brokerage called
Goliath Company. He invests sells, and flips houses. In addition, Scott also
was an executive producer of the show and an author. Reality television star is
also one of his many titles.
When asked what it was like doing the show Scott stated, “It’s reality TV for a reason, but try working with your wife for 12-14 hours a day. [The producers] know our fans. They love it when I break shit, and that’s my favorite part. If I could take a bulldozer and knock out a shed, that’s great. Take a chainsaw to a wall, that’s great. Demolition is No. 1; drama is No. 2. And then education.”
The best episode I saw and my favorite was the Season 2 Episode
10 show entitled, “Yancey’s Eleven” which aired on February 16, 2013. Scott
purchases 11 unfinished villas at Lake Las Vegas for a total of $380,000 and
takes on the gargantuan task of getting them all fixed up at the same time.
A&E episode description(www.aetv.com): Scott takes on
the biggest flip of his life having purchased 11 unfinished villas in upscale
Lake Las Vegas with hopes of flipping all 11 in less than 45 days! It’s a risky
gamble that could have a huge payoff…if Scott can manage to bulldoze through
some unexpected and high-priced construction roadblocks.
Show me the money honey.
The couple then began doing seminars. A no-strings attached
sort of deal. It started out for free with a preview, but then morphs into a sales
pitch. Over three-hours attendees are enticed to pay a $2,000 fee for a second,
more intensive three-day seminar. Those who paid and made the investment in the
three-day event received yet another pitch to invest in the next level that
costs a whopping $30,000.
I, personally, can confirm the first part. I was invited to a Yancey seminar. I went and it was basically someone coaxing and goading you to spend money (not the Yancey’s as they were not there). Basically, it was a high-pressure sales pitch. The free part was just to get butts in the seats. The free meal was a cold sandwich, chips, and a stale cookie. Although, it sounded good, and everyone acted professional. I refused to spend money going to yet-another seminar. After that experience, I swore off all seminars for good.
They said most people did not complete the problem because there was work involved. So, they quit. Customers cry foul. That they were not properly trained. Scam???
Finance Lesson 102: If you are going to expand and ask people for money, then you better bring you’re A-game and deliver. Better to write a book and sell it for a reasonable price, that provide the details of how you became successful then give people false hope and empty promises. A book is at least tangible.
A GOLIATH OF A TASK
“The main thing is that in TV land, they speed everything up. They [the viewers] think, ‘Oh, wow, it’s a breeze. They come in, and it’s done.’ It takes a long time to put them together, to pick out the fit and finish and work on the quality. They only see a glimpse of it.” – Amie Yancey
Scott started in real estate at a young age. He got advice
from a friend to invest his $30,000 settlement from a car crash into real
estate as his family was doing. Scott took the advice.
Forgoing finishing college he still found a way to make a
million dollars. Even though he almost quit real estate after the downturn,
overhearing a conversation between patrons made him change his mind. When he
heard how little people were paying for properties in Las Vegas only to start
renting them out to tenants, Scott saw a golden opportunity to profit. Why not
buy at the bottom?
“At the next table, the discussion revolved around the Las Vegas real estate market and the fact that there were homes available to buy for as little as $36,000 that would rent out for $900/month. Just hearing those two numbers put Scott’s real estate brain into gear. Two things came to mind immediately, ‘You make your money on the buy in Real Estate’ and ‘fortunes are made in bad economies.'” – Scott Yancey
His task was to buy real estate at the bottom. Things have to hit rock bottom become they come back up. You can capitalize on that. It was risky and things were rough. Like me, quotes were in Scott’s mind: “Nothing great is easy” and “Debt equals drive.” Those helped him. He had this epiphany and ran with it.
Similar to the money epiphany I had in 2017. Once I figured out a way to save more, I began to do so massively. Start where I was at and work my way up. I started by saving $50 a month and then slowing increased my savings every day or month. Now, I save over $13,000 a year and increase that number every year.
Finance Lesson 103: Best time to start a business is in an economic downturn as fortunes are made in bad economies. For instance, when the stock market crashes, that is the time to buy.
COLLEGE DROPOUT TURNED MULTI-MILLIONAIRE REAL ESTATE INVESTOR
“I’m not a college graduate.” Scott told Vegas
Seven. “I went to probably five colleges, and I dropped out of them all. I
have ADD. I didn’t come from money. But you don’t need money to be a real
estate investor, and that’s what I teach people. I did my first land deal on my
own without any of my own money, and I netted $2.3 million. I can relate to
most of the people who write to me and say, ‘I’d love to do what you’re doing.
I don’t like my job, but I don’t have any money.’ Great, you don’t have to.
You’re right where I started.”
Scott was hired as a real estate runner for a real estate
attorney named Walther (Walt) J. Plumb III. His salary at that time was
$5/hour. Walt ultimately became Scott’s mentor. He also convinced Scott to get
his real estate license as his last 3 runners had all become millionaires. He
ended taking his advice and making so much money in real estate, that he left
college. He was making hundreds of thousands of dollars, which is a lot of
money for a guy in his 20s.
He was making so much money for Walt that he decided to
strike out on his own.
The $2.3-million-dollar deal allowed him to pay off all his
credit cards and buy the care of his dreams, the Porsche. And put a million in
the bank. He used his big payday to pay off debt. This is similar to what John
Legend did.
You can also regularly hear Scott complain about amateurs on
his show.
In an interview with the Vegas
Sun, Scott said, “but I think there are a lot of amateur-type flippers who
have gotten in in the last little while, and they have short fuses because
they’ve borrowed money to their properties. Scott usually pays all cash.
This is what Warren Buffet says about borrowing: “I’ve
seen more people fail because of liquor and leverage – leverage being borrowed
money.”
He says, “if you don’t know what you’re doing, leave it to
the professionals.” He stills relies on
him and asks his mentor for advice. Looking up the couple net worth online
yields results of $5 million each.
Finance Lesson 104: You can be successful without college. However, you need to decide early and when you are young what vocation you are going to do to try and make a living.
THINGS WILL AND ALWAYS DO CHANGE SO PREPARE
“Flipping is great at first to generate capital, but as an investor, the goal is to take your capital and invest it in rental properties. The rental properties pay you every month. Flipping, you make one payday; you’ll make $100,000 on a good flip. [Investing] that in a rental property [can} make you $5,000 a month. … It’s a lot less work to collect a rent check than to renovate a house.” – Scott Yancey
At one point, in an interview with Vegas Seven, Scott thought that the real estate market would change as it always did. In addition, that there is a false send of high-fiving.
Most purchases are all cash deals being done by investors.
Lots of flippers have left and are out of the flipping market. People are
buying and holding, which should be the real estate investor’s endgame. As far
as renters for his homes go, he wants good tenants that resign every year and
he only takes cash as payment. He also buys near hospitals so many of his
renters are ER doctors and nurses. Basically, those with steady reliable
incomes and paychecks.
I hear that.
I also read a real estate investing book that said a great place
to buy was near college campuses. Get those college rentals going. Not bad
advice. Pretty similar to what Scott has done.
I recently read that the government shutdown has closed up
shop 4 times within the last 10 years. That is a huge problem for RE owners.
Especially, if this trend keeps up and considering that furloughed contractors
don’t get back pay when the government reopens.
Not surprising. A home is only an asset if it can or does
feed you. You can only get access to the equity when it’s sold. The only other
way to make money is to rent it out. Either by the unit, home, or room. If you
want to start a profitable real estate business and become a landlord, then you
better have the funds to handle downturns, bad tenants, vacancies, and repairs.
Finance Lesson 105: All businesses need capital.
You can take that piece of advice all the way to the bank.
“I tell college students, when you get to be my age you will be successful if the people who you hope to have love you, do love you.” – Warren Buffett
I have spent the last 12 years devoting myself to the study
of the wealthy.
In all that time, I learned that they are right about one
thing: Money does not solve all your problems.
I thought when I finally had some money things would change. Everything would go my way.
Forget Murphy’s Law. Whatever can go wrong, will not go wrong! The money will cushion my fall. It will shield me from water, wind, and fire. I’m unstoppable. Right? Wrong.
My life actually hasn’t changed all that much. I still live
in the same house, drive the same car, have the same family and friends.
So, what the heck? Where are all the trumpets and parades? I
guess they’re down by the Macy’s Day Parade floats where they belong.
I know money is emotional. However, money is just a tool. It
is not good or bad. It is what you do
with it. Only you can decide. As Captain Planet would say, “the power is yours.”
So, be rationale.
BORROWING TO GET AHEAD
“Neither a borrower, nor a lender be; For loan oft
loses both itself and friend.” – William Shakespeare, Hamlet
I understand why people borrow. It is because at the present
moment they do not have the means to finance what they want or need at that
particular time. That is why people borrow extensively for college.
On the opposite side of that spectrum, is to lend money.
“Before borrowing money from a friend, decide which you
need most.”
However, in my observations on the task of lending, it often
comes with unforeseen consequences.
You lend money to a friend or family member thinking you are just helping them out. Right?
Bachelor Party 1984 with Tom Hanks and Adrian Zmed
Of course, they will pay you back. Unfortunately, I have seen more situations where people do not pay back their obligations; thus, ruining relationships with creditors, family, and friends.
When you lend money to a family member or friend, you do so out of trust. If that trust gets violated, it hardly ever gets repaired. The damage is done and many times is irreversible.
You can end up losing a friend and making an enemy such as a
business associate or contractor you decide not to pay. That is not a good
thing to have happen because you are likely to make an enemy with a long
memory.
The way Nyssa al Ghul (played by Katrina Law) said it when talking to Oliver (played by Stephen Amell) on the show Arrow put it so succinctly. I couldn’t have said it better myself.
Arrow on the CW
That is because people are wired to be self-serving. I do
not think it is done maliciously. I believe this is for survival. Memories are
self-serving. The purpose is to help you live and avoid danger. If you remember
that the stove is hot, then you are less likely to get burned. Something like
that.
However, Benjamin Franklin states, “Creditors have better memories than debtors.” You are supposed to pay your debts because it is the right thing to do. I’m like a Lannister, I always pay my debts.
Even if it meant for me to go without. That taught me self-sacrifice and discipline.
“Rather go to bed without dinner than to rise in debt.” –
Benjamin Franklin
I feel the way Shelley Long of Cheers fame said in in the film The Boyfriend School (Don’t Tell Her It’s Me) describes this phenomenon best. Her character’s name is Lizzie and she says to her brother Gus, played by Steve Guttenberg, “People always do the right thing. When it serves their purposes.” Exactly.
Scene from the film
DO NOT COVET THY NEIGHBOR
“I think everybody should get rich and famous and do everything they ever dreamed of so they can see that it’s not the answer.” – Jim Carrey
Personal Branding expert, TEDx Talk and Keynote Speaker Leonard
Kim described the meaning of Jim Carrey’s words. He stated, “that everyone
chases money, wealth, success and fame, thinking it will bring them
happiness. Once they attain it, the
person sits there and thinks “That’s it?
That’s what all the hype was about?
I don’t feel happy. I don’t feel
fulfilled. I don’t feel anything.”
This was how I felt in a nutshell.
It was such an empty feeling. It felt so hollow. The only
thing I had was the relationships I had built up with people. So, I learned to
focus more on relationships than money.
I have no desire to buy a Ferrari, move to an expensive zip
code, buy tons of couture clothing, or start collecting valuables that may try
to take the place of some void.
Material possessions have not ever made me happy. Maybe,
that is why I hold on to stuff for so long and repair instead of replace. I
rarely shop. I don’t need anything.
The neighbor’s do not have to worry about keeping up with or competing with me or vice versa.
I am content to simply read and write. I try to focus on building relationships and not tearing them down. I do not want to hold grudges. Good luck to any person I have come across that we could not see eye-to-eye. I let you go with a full heart. I wish you no ill-will. I am happy being who I am.
I took a page out of another blogger’s book and focused on
my goals. I would do the following:
Help three people
Read two books on finance/personal development a month
Research organizations to donate to
Anything is better than someone asking me this.
IT IS OKAY TO SAY NO
“The difference between successful people and really
successful people is that really successful people say no to almost
everything.” – Warren Buffett
I like to observe people. Nothing gives you a better
predictor of future behavior than past behavior. You do not have to try and
people please. It is okay to say no when someone asks you for something.
Matter of fact, it is likely that saying no may save your friendship. Unlike what Robocop said, some things are not able to be fixed such as a lost friendship. No one wants that.
Robocop 1990
You are better off giving people the money they ask for than
expecting it back. If it is more than you can afford to lose, then don’t lend
it. Or just lend what you can afford to lose. It is just that simple.
Who cares if people get mad? It’s your money! They shouldn’t be coming to you simply because they think you are a soft touch. I once heard Pamela Anderson say that in an interview.
Always do what is in your heart. It is the only way not to be bitter and make sure you do not live life full of regrets. Better to say no and keep the friendship and your sanity intact.
“We shall see the crumbs of bread… and they will show us our way home again.” – Hansel and Gretel by the Brothers Grimm, 1812
Breadcrumbs are a series of connected pieces of information or evidence. People often refer to money as bread. The Grimm Brothers used breadcrumbs in their fairy-tale Hansel and Gretel for the protagonists to find their way.
Money gems are being dropped everywhere. If you look hard
enough. You can only find what you are looking for. So, look no further.
Greenbacks Magnet is about to show you where to look. Just follow the
money…breadcrumbs that is.
But first, who are the Brothers Grimm?
WHO ARE THE GRIMM BROTHERS?
Jacob and Wilhelm Grimm
“Some men are born to good luck: all they do or try to do
comes right—all that falls to them is so much gain—all their geese are
swans—all their cards are trumps—toss them which way you will, they will
always, like poor puss, alight upon their legs, and only move on so much the
faster. The world may very likely not always think of them as they think of
themselves, but what care they for the world? what can it know about the
matter?” ― The Brothers Grimm, The Complete Brothers Grimm Fairy Tales
The Brothers Grimm Jacob and Wilhelm, were German academics,
linguists, and authors who together collected and published folklore during the
19th century. They are best known for the publication of their works titled Grimm’s Fairy Tales in 1812. The book
contains 209 tales collected by the Brothers Grimm.
Some of their most famous tales include: Rapunzel,
Cinderella, The Valiant Little Tailor, Snow White and Red Rose, Briar-Rose,
King Thrushbeard, How Six Men Got On in the World, Rumpelstiltskin, Bearskin,
The Dancing Princesses (The Worn-Out Dancing Shoes), The Four Skillful
Brothers, and Hansel and Gretel.
My absolute favorite is Bearskin. A close second is the
Twelve Dancing Princesses. Both tales had flair and a lot of truth in them. The
antagonist in Bearskin reminds me Smeagol from The Lord of the Rings film, but that’s another story.
It has been so long since I have seen these tales, but I have never forgotten them and their theme of morality. I still use these stories as reminders to help others and do the right thing. For your entertainment, I have uploaded the videos from the Grimms’ Fairy Tales Classics from the late 1980’s. The show also ran reruns in the 1990’s.
Bearskin
The Worn-Out Dancing Shoes
The University of Pittsburgh has an online Grimm Brothers’ Home Page where you can read their classic tales. However, be forewarned that their stories did not always have the Happy Endings you are used to hearing in the more modern versions and retelling of the stories. They are, for lack of a better word, grimmer. Very different from another world-famous fairy tales author Hans Christian Andersen (1805-1875). One of his most notable works was The Little Mermaid. It was turned into a Disney film in 1989 and is also my favorite Disney movie.
The original movie poster A picture worth a thousand words
One of the best scenes in the movie
I digress, let’s get back to the real reason for this post, the television show Grimm.
WHAT IS GRIMM?
Opening: “There once was a man who lived a life so strange, it had to be true. Only he could see what no one else can—the darkness inside, the real monster within, and he’s the one who must stop them. This is his calling. This is his duty. This is the life of a Grimm.“
Grimm opening credits with his introduction
Grimm is an American fantasy police procedural drama television series that aired on NBC from October 28, 2011 to March 31, 2017, for 123 episodes, over six seasons.
The story followed the journey of a Portland police homicide detective by the name of Nick Burkhardt (played by David Giuntoli), who is a Grimm. A Grimm keeps the peace and world order between humanity and the supernatural, which are called Wesen.
Nick Burkhardt played by David Giuntoli
What made this show so great was not so much just the title character, but all the characters who played his friends around him. This is one of the first and only shows where I have ever seen the supporting cast be just as important as the main character.
One of the best guest stars on the show was Martin Meisner played by Damien Puckler.
Meisner in action. Jaime Ray Newman as Angelina was the other best guest star on the show. Angelina presented herself as a passionate and violent Femme Fatale, dressing in leather and provocative clothes, riding a Harley-Davidson motorcycle and she was always ready to fight.
Just a taste of what her character is like on the show. Very fiery and combative. A fighter.
https://www.dailymotion.com/video/x6uwr0y
Jaime Ray Newman episode.
Hilarious.The Grimm cast
The show was also at times very funny. In addition, whenever the Grimm was discovered by Wesen, they would morph into their true selves and this made every episode fun, surprising, and unique.
The supporting cast consisted of the following actors: Russell Hornsby, Bitsie Tulloch, Silas Weir Mitchell, Sasha Roiz, Reggie Lee, Bree Turner, and Claire Coffee. The shows fight scenes were amazing. And the shows themes of the constant testing of morality was ever-present and consistent throughout the show just like that of the Grimm Fairy Tales. Each episode also started off with a quote from one of the Brothers Grimm fairy tales and let you know what that episode would be about.
The very first opening show quote. October 28, 2011.
Series opening credits
Love the intro music. It really gets your heart pumping. And the show is just as it appears.
“When words fail music speaks. – Hans Christian Andersen
In the opening scene of the Pilot espisode, The Eurhythmics Song Sweet Dreams is playing. This song ultimately led them to solve a case they were working on. When interrogating him they got nothing. It wasn’t what the perp said, it was what he sang or hummed. Gotta love music.
Hank: What’s that song?
Nick: Sweet Dreams.
Hank: Eurythmics. One of their better. [sings] “Sweet
dreams are made of these. Who am I to disagree…?”
GRIMM CAREERS
Opening quote:
“I am impelled not to squeak like a grateful and frightened mouse, but to
roar….” – Of Man and Mouse, Grimm, Season 1, episode 9
As you know career choice is very important, it can mean the
difference of having wealth and abundance or starvation and penury. And no
wants a Dickensian existence of poverty. So, choose wisely.
Get the education and training you need to succeed. However, I say do so affordably. It behooves you to do so. You could be stuck depending on others for their help and expertise when you’re in a pinch. Such as the likes of Monroe as Nick’s reluctant informant.
The Grimm diary
Monroe: What did you just get the books tonight?
Nick: You know about the books?
Another episode, like many…
Nick: Monroe, I need your help.
“What am I, your personal Grimmopedia?” – Monroe to Nick
I say do all you can to depend on self. You will always have
your own back. Otherwise, you have to depend on others for their help to remain
relevant in the workforce.
Monroe: Hello?
Nick: Hey, it’s Nick?
Monroe: How did you get my new cell phone?!
Nick: Are you kidding me? I’m a cop.
Too funny.
And don’t put all your money in the company stock.
It could go bankrupt and you could end up with nothing. Worse yet, people could leave you to clean up their mess or you could be left holding the bag. One word: Enron.
Do not walk, run down to your HR department and make sure they offer investments other than stock options mostly in their firm. Demand to have more options if you don’t. If not, open a Roth IRA and pick funds outside your company. Be aggressive. It’s your money dammit.
I think of myself like Brad Pitt said in the movie Troy, “We are lions.”
I am a lioness. I go for the gold. If one thing does not work, I get to work finding another way or pick another path.
To be successful, you must adapt. Like the Navy Seals were
taught in that movie Heartbreak Ridge; Navy SEALs Learn To Adapt, Improvise and
Overcome. Special Forces (United States Army) has a motto: De Oppresso Liber.
Which is Latin for “to free from oppression” or “to liberate the
oppressed.” The United States Navy Seals mottos are: “The Only Easy
Day Was Yesterday”, “It Pays to be a Winner.” Seeing a theme
here.
Your greatest asset is your mind and your ability to work.
Earning is what will help you build wealth. You cannot save money, if you have
no money.
You know who else agrees with me? Rambo. Check out the scene for yourself here.
Sylvester Stallone as John Rambo “I always believed that the mind is the best weapon”
Although, a fictional character, Rambo was trained in
Guerilla warfare. His objective was to win. However, he still had a moral
obligation to help others and he did. In life people make choices, he made his.
You will have to decide for yourself what is important to you because when it
is, you will find a way.
Below are the careers of the cast of characters on the show
and their median salaries according to the U.S. Bureau of Labor Statistics,
Payscale, or Glassdoor, which are the following:
Nick Burkhart – Detective ($65,860)
Hank (Nick’s partner played by Russell Hornsby) – Detective (65,860)
Wu (played by Reggie Lee) – Sergeant ($69,685)
Juliette (played by Bitsie Tulloch) – Veterinarian ($106,770)
Monroe (Nick’s right-hand man played by Silas Weir Mitchell)
– Woodworker ($30,192)
Sean Renard (Nick and Hank’s police captain played by Sasha
Roiz) – Captain ($80,593)
Rosalee (Monroe’s wife played by Bree Turner) – Retail shop store
owner ($38,000)
Adalind Schade (played by Claire Coffee) – Lawyer ($114,000)
GRIMM INHERITANCE
The infamous trailer.
“One feather is of no use to me, I must have the whole
bird.” ― Jacob Grimm, The Complete Brothers Grimm Fairy Tales
According to the book The
Millionaire Next Door, 80-86% of millionaires in America are self-made. Most
wealth is earned. Meaning less than 20% inherit their wealth. This is down from
a high of 50% or more who did so around the early 1900’s.
In the show, his aunt comes to visit to pass down to him his birthright. A trailer full of artifacts, heirlooms, and antiques that are priceless as they are irreplaceable and is full of Grimm and Wesen lore. It comes in handy throughout the series. And don’t forget the key.
This shows that what a family member does in the past can be
of significant value to their loved ones in the future. Work hard today to help
your future generations tomorrow. Case in point, Nick was always consulting
with the books in the trailer as a guide to help him in the show. Without the
books, he would have been lost. Had he been left to fend for himself, there could
have been dire consequences.
However, in the present day, most people are not receiving
large inheritances at all, if any. You are better off figuring out a profession
prior to even starting college. You can look for one that pays well such as
business, accounting, and engineering or are of interest to you.
WHAT MONEY BREADCRUMBS ARE THERE?
“Hansel took his little sister by the hand, and followed the
pebbles which shone like newly-coined silver pieces, and showed them the way.” ―
Jacob Grimm, Grimm’s Fairy Tales: Complete Edition & Over 200 Fairy Tales
Take a look around you. Who do you see doing well? Study what they study. Read what they read. Find out what they are doing? But make sure its legit and legal.
What products are selling like hotcakes off the shelves?
Invest in that company.
I’m sure you catch my drift.
Look for clues. Success leaves clues.
PRETTY GRIMM TO HAVE NO INHERITANCE
Opening quote:
“‘No,’ said the King. I’d rather die than place you in such great danger
as you must meet with in your journey.” – The Water of Life, Grimm Brothers
from the Grimm episode The
Inheritance
One episode showed Adalind meeting with a lawyer about her
mother’s estate. Not only did her mother had no assets, but she hadn’t paid her
taxes in like six years. In addition, her storage unit was only paid up to the
end of the month. After, that her stuff would be auctioned off or thrown away. This
is all too common nowadays.
Like I said before, most people do not receive inheritances
and if they do, it is not likely to be more than a few thousand dollars. You
are better off working to build your own fortune. Then it will not matter what
other people do with their money.
A GRIMM PRICE TO PAY
Opening quote:
“For me there are neither locks nor bolts, whatsoever I desire is
mine.” – The Master Thief, Grimm Brothers
Another episode showed that more artifacts were found that belonged to a Grimm in Europe. When Monroe’s uncle offered to sell it to Nick he asked for something like $250,000. Nick didn’t have that kind of money. Especially, on a cop’s salary. That’s a lot of money.
Monroe said that to his uncle. He said that was his price
and left.
Not being able to get your hands on a significant amount of
cash fairly quickly is a way to miss out on opportunities. You should always
have liquid cash in savings or a stash you can tap for emergencies. I started
my emergency fund with $25. My rainy day fund now consists of me saving over
$14,000 a year. I learned how important having a money stash from the fictional
character Scrooge McDuck.
Opening quote:
“It is not light that we need, but fire.” – Season 5, episode 1, The Grimm Identity
Lots of fight sequences happen at Nick’s house. So many that Monroe told Nick he should move.
I gave Monroe the slow clap. I had been thinking that very thing for like 2 seasons. Too many people knew where he lived.
There are times when jobs dry up. Factories and businesses
close. Like they said in the old days: Go West, young man! Or There’s gold in
them there hills! That lit a fire under mens a$$es to move with a sense of
urgency.
To get a fresh start, you may need to move. Move where the
jobs are.
Starting a business? Move where capital is plentiful and
free flowing.
The operative word: Move.
GRIMM FOSTERING THE PEOPLE
Opening quote: “Nobody knows the trouble I’ve seen, nobody knows my sorrow.”
One of my favorite characters in the show was none other than Teresa “Trubel” Rubel played by Jacqueline Toboni.
She was a runaway that would be taken in by Nick. She is also a Grimm. The show got a whole lot more interesting and fun when she came along.
“Nobody Knows the Trubel I’ve Seen” is the 19th episode of season 3. It aired on April 25, 2014. This is Trubel’s first appearance on the show.
https://www.dailymotion.com/video/x6h924r
Throughout her time on the show, money was a constant stressor of hers.
For instance, she did some of the following:
Stole a pair of boots
Stayed in cheap motels
Asked for money for food
Did not want to take handouts
In another episode, she helped stop an illegal teen
shoplifting ring. She herself was basically living in foster homes and on the
streets until she met Nick. One of my favorite scenes was when she stole that
pair of boots. It was very slick.
Well, we have come to the end of this post. I hope you enjoyed it as much as I did writing it. There was nothing like this show.
@mistergiuntoli I finally saw the last episode of Grimm. I just love the camaraderie on the show. Especially, you and Trouble. The chemistry between you too was great. I miss Hank saying: where are we supposed to be? Then its down the rabbit..er uh I mean Wesen hole.
Worry is the interest paid to those who borrow trouble. –
George Washington
Finance it! That should be slapped on bumper stickers across
the country.
There are now loans for just about anything you can think
of. Whatever your heart desires, you can finance. Almost.
My father would say that people need to learn discipline as
they want to do every whimsical little thing that comes to mind and this can
cause trouble in your life.
I learned at a young age that trying to get your little
hands on everything you crave is a gateway to higher levels of debt and
spending.
It starts with one video game and then balloons to buying
the console, accessories, new games every other week, and monthly subscriptions
to gaming magazines. That quickly escalates to $1,000 iPhones, $2,000 MacBook’s
and flying first class everywhere. Even if it is drivable and only a few states
away.
How is all this lifestyle creep paid for?
With plastic.
After working at a federal credit union, I got the inside
peek behind the financial curtain into many strangers lives.
Some people are clinging to their middle-class status like
the ones they had in their childhood upbringing, while others are dangling over
the financial edge and many more have fallen over the financial precipice
completely.
Financial institutions knowing this fact, as wages have been
stagnating since about 1979, are all too eager to fill that gap in earnings
with loans.
Let’s find out what type of debt is out there awaiting
consumers that are not financially savvy enough to avoid them or are left with
few alternatives to avoid them in the first place.
NO CASH, NO PROBLEM
Quick to borrow is
always slow to pay. – Proverb
How many times have you heard commercials that say your job
is your credit? Get real. Your credit is your credit.
Miss enough payments and that job means nothing. They will
repossess anything.
I saw this up close and personal at the credit union. I saw
cars getting repossessed, families stressed out and on the edge of a financial
cliff, and those with bad credit had it the worst of the lot.
Is your credit score too low or in the 500’s? Forget about
it. Either you will not be able to borrow or it will be at interest rates so
high you will be paying off that sweater you bought for your kid’s 3rd
birthday when your kid goes off to college.
Do not be fooled into thinking companies are being so nice
to give you this product for low monthly payments. That low monthly payment of
$42 over 24 months is still over $1,000!
If you must borrow, get those scores up. That way you pay
less interest.
IS IT FOR SALE?
Of course, it is! Everything is for sale. And its pricey
too.
“A business that makes
nothing but money is a poor business.” – Henry Ford
They will let you subscribe to just about anything, for a
fee. Much unlike this blog, which you can subscribe to for free, you have to
pay for anything you deem necessary or desired for your life.
Just because it is for sale does not mean you are not
shelling out big bucks for it. Case in point, if an item is on sale for 25%,
then you still have to pay 75% to take the item home with you.
I say skip the for sale signs and racks and focus on only
buying quality products that you need and truly want, but that you can actually
afford.
BUY NOW, PAY LATER
As an individual who
undertakes to live by borrowing, soon finds his original means devoured by
interest, and next to no one left to borrow from – so must it be with a
government. – Abraham Lincoln
This is what I feel is the old bait and switch. Sure, you
can finance it now and pay later, but later is going to be a long time and it’s
going to cost you…A lot.
I say avoid paying interest and forever and a day.
No one ever went broke
underestimating the taste of the American public. – H. L. Mencken
Over the years, I have started noticing more and more that
not only is everything for sale, but it is able to be financed.
What has been really glaring has been the new loans that
have crept up and put out in the main stream for the last 10-15 years.
What loans am I talking about?
Holiday Loans (for Christmas Presents)
Vacation Loans (finance that cruise)
Internship Loans (finance additional training
along with college tuition)
Summer Loans (for the gap between Fall and
Spring college semester)
Care Credit (healthcare financing)
Hurricane Loans (National Disaster Loans)
Government Assistance Loans (Government shutdown
loans)
That’s right. If you have never heard of some of these loans
listed above, that is because they are not often advertised except during
certain economic times or periods or places such as college campuses or certain
banks.
Do you really want to finance Christmas?
You take out a loan for $1200. You have 12 months to pay it
back with interest. The time you were supposed to be saving (the
previous 11 months) you were repaying this loan. That leaves you for no funds
for the following Christmas. You go to the bank and they say, “we have this
loan that could help you out.” Just skip it.
Better yet, have the family pull names out of a hat and just
buy a gift for that one person. Save a
fortune. Your bank account will thank you.
The ones that really get me steaming are the National Disaster and Government assistance loans. People are in a vulnerable position and you want them to go into debt! More debt! Really?!!
No one plans for national disasters. You can plan your
finances, but some things are not all foreseen.
For instance, some people lost their homes during the most recent
hurricanes in Puerto Rico and Texas. The insurance companies were saying they
had to pay a deductible to get their home rebuilt. This was to the tune of
$5,000! Most people don’t just have that type of money laying around.
Borrowing will only put you deeper into debt and unable to
save when an emergency like this happens.
The worst by far is government assistance loans for the
government shutdown. Folks would not need a loan if they could save. Now, you
want more of their money, which they don’t even have? What sense does that
make.
I say focus on building up the rainy day fund so you are not
caught out in the financial rain without a savings umbrella.
HOW MUCH IS THAT LEXUS IN THE WINDOW?
“A business that
tries to save money by not advertising, is like a man who tries to save time by
stopping his watch.” – Henry Ford
It’s all about advertising.
That’s why so many people are pulling up in Target parking
lots wearing Gucci boots, carrying a Louis Vuitton purse, all the while texting
on an iPhone on to buy $10 socks that are marked down and dare I say it On Sale.
I see more folks driving luxury vehicles now than I have
ever seen in my life.
What happened to just needing to get from Point A to B?
Please do not let the smell of new leather cause you to have
empty pockets. No car or gadget is worth going into debt over. Or worse yet,
going broke.
On one television show, I saw a mother of two young kids
trying to see if she could come up with the rationale to finance a $100,000
car! Do not do that. It is not worth it.
Sell to the masses, eat
with the classes. – Henry Ford
It has been often stated, if you sell to the classes, you’ll
dine with the masses. But if you’ll sell to the masses, you’ll dine with the
classes.
Another spin on this quote is this one here.
Sell to the masses, eat with the classes. Sell the classes,
go belly up!” – John F. Savage
It is said the majority of people rent this world from a
minority of people. That is how it goes. Unless you change the status quo.
Become an owner. Keep more of your money and always invest.
They make it all too easy for you to sign on the dotted line
and then have to fork over 25% of your paycheck just to pay for your items.
I want to pay for the item, get it handed to me, then
transaction over. Installments suck!
I say save for what you want.
Not sure where to start.
Just start small. Even saving $5 a week just to get in the
habit of saving is better than doing nothing and having no savings at all.
So, please do not sign on the dotted line. Do everything you
can to save. It will be your safety net should real disaster strike because
when it does it’s like lightning. It usually strikes fast and more than once.
Play good defense and save. Surround your financial house
with savings. Do not get tackled because you left your wallet open, figuratively
speaking.
