There was a time when Comcast was known primarily as a cable provider.
Well they can now add media conglomerate to that list, while they skip down the street all the way to the bank to make those deposits.
Disney had better watch out!
Executives at Comcast began courting a merger between itself and NBC Universal, creating a $30 billion dollar behemoth. This was during the 2009 financial crisis.
Remember folks, fortunes are made in recessions. *Cough, cough.* Ahem, like the one we are in now.
By 2011, regulators granted Comcast permission to buy NBC, with a 51% stake in the company and the option of gaining the controlling interest from GE Capital in 2013 in order to sweep the pool.
Disney and Comcast are now playing in the same media juggernaut sandlot. Capitalism at its finest.
Comcast, the No. 1 provider of video and residential Internet service in the United States, already had about 23 million subscribers at the time of the deal.
Comcast now has ownership of tons of cable channels and movies, as well as the rights to those shows; assets that include NBC broadcast stations, cable channels like Bravo, USA and E!, the Universal movie studio as well as theme parks among other assets.
Here are some of the big brands it owns.
NBC Universal Television
NBC is home and resting place to some of the biggest shows on television.
The most commercially successful television show of all time is also included in their list of favorites; Seinfeld, the show about nothing. However, they lost streaming rights in a $500 million bidding war with Netflix and then again to HBO.
Regardless, the most streamed shows on Netflix were The Office, Friends, and Parks and Recreation, Netflix will have none of these shows in 2020, but NBC owns control of all except Friends.
The Emmy contender This is Us is also on its rooster along with a catalog that is comprised of a wide range of classic sitcoms, reboots of classic sitcoms, new original shows, and a library of films from Universal Pictures.
Universal Pictures
It is the oldest surviving film studio in the United States.
In March 2013, Comcast bought the remaining 49% of NBC Universal for $16.7 billion.
It’s film library includes Jurassic Park, Back to the Future, and the multi-billion dollar, box-office record breaker The Fast and the Furious Franchise. I can hear the cash register now. Cha-ching.
Universal Parks & Resorts
As they are always trying to give Disney a run for their money, Comcast also owns the Universal theme parks.
With locations spanning across the globe: Orlando, FL, Singapore, Japan, and Hollywood.
In 2017, approximately 49,458,000 guests visited Universal Studios theme parks, making it the third-largest amusement park operator in the world. Its major competitors are only Disney and Six Flags.
To put this in perspective, the country of Canada has a total population of 35,000,000. That means every year, the equivalent of entire the population of Canada descends down to visit their theme parks annually.
In addition, they also own the rights to display characters and images at their parks such as The Transformers, Chucky, and others.
I got up close and personal with them when I went to Universal Studios in Orlando. No doubt about it. Comcast is making a mint.
E! Entertainment Television
Comcast now owns shows like Keeping Up with the Kardashians and E! News.
As of January 2016, E! is available to 92.4 million households in the United States.
CNBC
The network acquired its main competitor, the Financial News Network, a move which expanded both its distribution and its workforce.
Cablevision subsequently sold its stake to NBC, giving NBC sole ownership.
As of February 2015, CNBC is available to approximately 93,623,000 pay television households (80.4% of households with television) in the United States.
In 2007, the network was ranked as the 19th most valuable cable channel in the United States, worth roughly $4 billion.
CNBC is the world leader in business news and real-time financial market coverage.
The rest of Comcast
It has even more major brands in its portfolio, but you get the idea. Comcast is making money hand over fist. If you are a cable provider guppy, then watch out, because Comcast is the shark.
Full Disclosure: This is Part 2 in a 2-part collaborative post with fellow blogger Dr. Breathe Easy Finance This Part 2 is written by yours truly 😉
All artists collaborate sometimes.
I’ll give you some examples.
Drake and Lil Wayne.
Marvel ComicsThe Avengers. It destroyed the box office this past weekend. It just made 1.2 billion at the global box office. So you see, amazing things happen when people collaborate.
Now he has passed the baton over to me and I gladly accept like we are team USA . Like Usain Bolt just handed over the baton. I hear the shouts coming from the stands. Screaming U.S.A..U.S.A!!!! 🤣
We are Personal Finance Bloggers. We will not be overshadowed by some french fires and ketchup! You know why? Because financial literacy is too important. The cream not ketchup rises to the top! Like those bullies said in Race For Your Life Charlie Brown, We’re #1!!!! We are out here to help people improve the quality of their financial lives. See my post of Life Lessons From Race For Your Life Charlie Brown
So we got together and decided to tag team it like Macho Man Randy Savage and The Ultimate Warrior.
So without further ado. Here it is for your reading pleasure. I give you Financial Lessons from asking, Do You Want Fries With That?!!
I know what you’re thinking? What type of article title is this? But just stay with me.
Another personal finance blogger, like myself, saw a post online of a video of someone eating a French fry. It got 23,000 views. He shared his thoughts about it on Twitter.
He said in the finance community we get nowhere near as many views. His response to that, was that his next post would be titled, “12 Financial Lessons from Eating Ketchup.”
I replied to that tweet, in response to his, that I would complement his post and call mine “Financial Lessons from asking, Do You Want Fries With That?
He thought I was joking. Surely, you jest!
I was oh so serious. As you see, when it comes to money, I don’t joke.
In the illustrious words of Miss Piggy, “Moi,” that’s (“me”) in French, Moi means business. Sorry, had to throw in a French word since we are talking about French fries.
You see that, I just gave you an origin story. Similar to how Marvel Studios gave you X-Men Origins Wolverine.
I will be slicing through the mysteries of money faster than the Wolverine can bring out those claws and the same way Michonne uses that Ninja sword on the Walking Dead.
This blog talks money, but we also like to have fun. We about to have as much fun up in here as if we were going to a U2 concert!
Now that you know how this post got its origins, let’s dive right in!
Financial Lesson One: Hard work builds character
You will find no arrogance here.
I like to live a simple life. More Tom Welling in Smallville less Paris Hilton in The Simple Life.
Fun Fact: I got to meet and take a selfie with Tom Welling at Awesome Con in DC. He was a down-to-earth guy. More on my adventures at Awesome Con to come later in another post 😉
I am no better than anyone else, but I am always just as good.
I have said before in various blog posts, that I am not too good for anything. I am always willing to work. I’ve been a cashier, waitress, and an operator. I prefer to work two jobs if I can. I would spend and live off of one and bank the other. See my post Lipstick Confessions: Confessions Of A Teenage Waitress
Have a heart that never hardens, and a temper that never
tires, and a touch that never hurts. – Charles Dickens
A Christmas Carol
has to be one of the most beloved Christmas tales of all time. It was written
as a novella by Charles Dickens in 1843. Although, the story is over 170 years
old, there are many lessons of wisdom imparted within this story that still has
relevance today.
It never gets old watching Ebenezer Scrooge’s redemption at
the hands of three ghosts and the spirit of his late business partner Jacob
Marley.
A compelling story indeed.
It is set during the Victorian era of the 1800’s in England. Around 1860.
The story gave us the words and phrases Scrooge, Bah Humbug, and Merry Christmas.
In the 1940’s, Disney even created their own character in his image named Scrooge McDuck.
How did Scrooge go from an innocent young pupil to a crotchety
miser?
One word: Life.
We all must go through it, but how we handle life’s ups and
down is what really makes us who we are.
Scrooge hated people. However, those around him still chose
to show him kindness.
I have learned that you cannot answer hate with anger. You
can only show people who you are by how you live your life.
Remembering his story always reminds me to treat others the
way I would want to be treated, and that is with dignity and respect.
WHO IS EBENEZER SCROOGE?
Ebenezer Scrooge is the protagonist of this tale. A miserly business owner who is a skinflint to the core. Though successful in business, he is angry and alone.
His only family is a single nephew from his late and only
sister.
As a young boy, he spent all his time on his studies. His
father was a very strict and harsh man. There was little time for play or fun
for Ebenezer. It hardened his heart. Money was the answer that will give him
meaning to his life.
He decided to close himself off to others so that he
wouldn’t get hurt. But the thing is, when you open up to people, you let the
good in with the bad. This adapted defense mechanism had a profoundly negative
effect on adult Scrooge. He learned to place the pursuit of money above love.
He was later employed by a man named Fezziwig, who was kind and gentle. His employer was in the shipping business that was established in 1766.
Although, Scrooge had examples of charitable people and love
around him, somehow he let greed take over his heart.
LOVE AND HAPPINESS ARE NOT ONE AND THE SAME
We need never be
ashamed of our tears. – Charles Dickens
Money does not buy happiness only temporary satisfaction. It
cannot buy friends, family, faith, loyalty, or love. Money is empty. People is
what fills you up inside and your heart. Don’t let money control you like it
did Scrooge. Money doesn’t control you, you control it.
The absolute saddest and most touching part of the story is
when his betrothed has some very harsh words for Ebenezer.
At a young age, he made a promise to marry a girl of no fortune.
Over time he changes. He becomes cold and harsh. She tells
him that one by one she has watched his nobler aspirations fall away.
His master passion of gain is now his only love. An Idol has displaced and replaced her in his heart. A golden one. He only cares now for gold. Money.
She asked him if he was a free man would he still want to marry a dowerless or penniless girl with nothing but myself to bring to a marriage. He stays silent. She has her answer.
In one of the absolute most heart wrenching and saddest
rebuffs I have ever heard a woman say to a man, it almost brings tears to my
eyes.
She tells Scrooge this; thus, ending their engagement:
Ebenezer, I release you;
You are a free man;
I let you go with a full heart;
May you be happier in the life you have chosen.
Her rejection of him was the final straw as he was never the
same. He calls himself a fool for not going after her. I think it was his pride
that let love slip away.
It seems that old fools used to be young fools.
This film version of he speech in 1984, in my opinion, is the best version I have heard. It makes me stop in my tracks every time to hear her say it just sends a sharp chill down my spine its so cold and sad.
A Christmas Carol (1984)
This is my favorite version of the many film adaptions. I remember seeing it on reruns growing up during the holidays.
Scrooge (1970) Starring Albert Finney
The 1951 version also has fine acting and strong dialogue including its delivery. The scene where the engagement ends is particularly well-spoken by the films star.
He says, “the world can be so brutally cruel to the poor. All the while professing to condemn the pursuit of wealth in the same breath.”
He asked his soon to be ex-fiance, “is it a terrible thing for a man to struggle to be something better than he is?”
She feels that is is if a man weighs everything only by gain.
A Christmas Carol (1951)
A CHANCE TO GLIMPSE THE PAST, PRESENT, AND FUTURE
A loving heart is the
truest wisdom. – Charles Dickens
In the story he is visited by the spirits of Christmases
Past, Present and Future.
He gets to relive the mistakes of the past and present and
see what will come to pass in the future, if he doesn’t change his ways.
As hindsight is always 20/20, who wouldn’t like a chance to change right what once went wrong.
However, Scrooge was a tightwad. Ridiculously cheap and stingy. He ate a bowl of gruel for Christmas dinner in a room with one lit candle. Pathetic.
He didn’t even spend for his own comfort. So, he was miserable and made everyone around him the same. People like him only see the cost of visiting the eye doctor, not the benefits that could come with 20/20 vision.
From his story we learn this, you may not be able to change
the past, but the future is not written yet. You can write the last few pages,
if you have the courage to change. It is NEVER too late to change for the
better.
THEY SAY CHARITY STARTS AT HOME
No one is useless in
this world who lightens the burdens of another. – Charles Dickens
Your actions do impact others. For every cause there is an
effect. Every action you take affects not only you, but the people around you
and someone else in the long run. There is a reaction for every action.
When asked to give to charity, he asks, “Are there no
prisons?” and “Are there no workhouses?” Then goes on to state that it would be
better to decrease the “surplus population” than to help the needy.
Oh yea. He’s a real charmer.
Scrooge had a loyal and faithful employee named Cratchit. It
was a shame he treated him so badly. He wouldn’t even allow the man to put more
coal on the fire to keep warm while at work.
It was too bad he could not show the same kindness upon Bob Cratchit
that his former employer did upon him. It would have been a great way to pay it
forward. And to honor those that came before him.
They say when you want to be charitable, you do not have to
look far. You can start at home. Why not start with your friends?
LEARN FROM THE MISTAKES OF THE PAST AND OTHERS
A sad sight to see was his old deceased business partner. Jacob Marley, who is in purgatory for his sins. As punishment, forced to walk the earth in chains while seeing those he could have helped but didn’t and now being unable to do so. He tells Scrooge to change before it is too late.
Jacob says, “The common welfare should have been my business.”
Helping people should have been more important than money.
I cannot tell you how many times I have watched others that
are older than myself and said I do not want to make the same mistakes. I made
different plans for my life and charted a different path.
When I get a chance to repay a kindness, I do it. Unlike
Scrooge, it is rare in this life that you get a second chance. I try to do a
good job the first time. Tell people the truth. Help them. Reach back and pull
someone else up. They say you never get a second chance to make a first
impression. A true statement indeed.
I read history to see what has been done in the past to
avoid making those same mistakes in the future.
No regrets.
Most people’s number one regret on their deathbed is that
they focused too much on work and money and not enough on their relationships.
Please don’t be one of those people.
The best and biggest change in Scrooge after his ghostly
visits is his generosity. The spirit of Christmas Yet to Come foretold of a bad
future. He saw a life of sadness and loneliness and that his deeds directed his
future of misery. He says he will remember what the spirits tell him and says,
“I will not shut out the lessons that they teach!” Scrooge heeded the spirits
words and mended his ways.
HAVE A FINANCIAL PLAN
Scrooge was the extreme version of frugality. He saved more than necessary and gave little. Scrooge hoarded every penny. His plan was to have as much money as possible, but that is only one piece of the puzzle. He planned for his money, but not his life. Life is complex. It requires money, yes, but also people because life is about building relationships.
Get a good education, then keep your head down and work. But don’t forget about developing your friendships and relationships.
The Cratchits were poor. Living off a miserable 15 shillings
a week. They had a roof, food, and clothes, but no luxuries. They made use of
everything they had. No wasteful spending. And were grateful for what they had:
each other.
I try to only do what I’m passionate about. Will it get me
closer to my goals? If not, I tend to not spend any money and instead find a
way to economize. I spend on what is important, what I value, and what I need.
FORGIVENESS
To err is human, to
forgive divine. – Alexander Pope
At the end of the story, Scrooge pledges a vow by saying, “I
will honor Christmas in my heart, and try to keep it all the year.” A wonderful
promise to make and keep indeed.
Do not ever be afraid or ashamed to ask for forgiveness. It
is a sign of strength and growing maturity.
Dickens once said, “No space of regret can make amends for
one life’s opportunity misused.” I believe that people should do what they are
good at, cultivate their gifts, and help people with that gift. Use your gifts
to solve problems creatively. And not just once a year, but all the days of the
year.
Those willing to do more than the bare minimum. We are talking captains or titans of industry and business mavericks, that buck the trend, throw caution to the wind, and are all in.
Steve Jobs, Bill Gates, LeBron James, Phil Knight, and Walt Disney, to name a few, embody the characteristics of what it takes to dominate in one’s field. They are outliers. If you dare to dream and be an outlier yourself, then you are in great company.
WHAT IS AN OUTLIER?
A person or thing that is atypical within a particular group, class, or category. – Merriam Webster Dictionary
Simply put, you are different than the rest. You stand out. An outlier is the proverbial diamond in the rough or needle in the haystack. The 1 out of a million.
We all know how it worked out for Aladdin in the end.
When everyone else goes right, you go left and turn down the street.
You have tunnel vision. All energy is focused on a single task until it is completed or you are an expert. The rejection of noise and naysayers are a must.
A great definition of focus is this: To follow, without halt, one aim: There’s the secret of success. – Anna Pavlova (Prima Ballerina)
WHO ARE OUTLIERS?
The more you like yourself, the less you are like anyone else, which makes you unique. – Walt Disney
We will take the examples above and expand on those individuals that have either been born great, achieved greatness, or had greatness thrust upon them. (To revise Humphrey Bogart’s famous words: Here’s looking at you, William. Shakespeare that is.)
So, who are these mavericks you say? Just keep reading.
Steve Jobs
Photo: Forbes.com
Steve Jobs was the CEO and co-founder of the most valuable brand in the world: Apple. The first ever trillion-dollar company in the entire world. He pioneered revolutionary technologies. Thanks to his genius and willingness to dare to be different, we now have a computer in our pockets.
He decided to buck the trend and paid no dividends for Apple shareholders (this changed in 2012), as he thought that money could be better spent to expand the company.
Forbes, in 2011, estimated Jobs’ net worth to be around $6 billion to $ 7 billion dollars prior to his passing.
Bill Gates
Photo: Forbes.com
Bill Gates is a business magnate who is the founder of Microsoft. He took the road less traveled by famously dropping out of one of the most elite and prestigious universities in the world: Harvard.
Mr. Gates devoted every minute of his time to computer technology. He would read trade magazines and stay informed on the latest in tech. Becoming an expert in the field and later launching Windows in 1985. It became the top operating system for PC’s.
Forbes lists Gates’ net worth at $96B.
LeBron James
Photo: Forbes.com
LeBron James started playing basketball at a very young age. He loved the game so much that he played and practiced non-stop. By the time LeBron was 14, he had ESPN covering his high school basketball games because he was just that good.
He was drafted in 2003, to play professional basketball with the NBA. It is estimated that he spends $1.5 million dollars a year just on his health care and personal training to keep his body in the best athletic shape possible. He would go on to win the first ever championship for Cleveland. Ever. He recently built a school and is offering college scholarships to those students.
Forbes estimates James’ net worth at $440 million. That’s a lot of M’s just for going hard in the paint. It pays well to be the best.
Phil Knight
Photo: Forbes.com
Phil Knight is a business magnate and the co-founder of Nike. He ran track for the University of Oregon under the infamous track coach Bill Bowerman, with whom he co-founded Nike. Bowerman is famous for coaching 31 Olympic athletes including the legendary Steve Prefontaine.
After attending Stanford Graduate School of Business, Knight decided to become an entrepreneur. His business plan paper became the catalyst for his company. He traveled to Japan to see about good running shoes, which would go on to become Nike.
Forbes estimates Knight’s net worth at $31B.
Walt Disney
Photo: Forbes.com
Walt Disney was a pioneer in the American animation industry. He always loved to draw. He had a paper route with a grueling and exhausting schedule as a kid, which contributed to his poor grades at school.
None the less, he continued to draw. He had $40 dollars in his pocket when he moved to CA to start his career. After, getting fired from a job in animation at one company, he decided to start his own.
People laughed at him for wanting to draw a talking mouse. An old legend states he was rejected 302 times to get financing to start Disney World. He ended getting the last laugh as Disney is the biggest and most diversified mass media and entertainment conglomerate in the world.
At the time of his death in 1966, he was estimated to have a net worth equal to $1 billion in today’s dollars (adjusting for inflation).
HOW CAN BEING AN OUTLIER MAKE YOU RICH?
Go confidently in the direction of your dreams. Live the life you have imagined. – Henry David Thoreau
People are willing to pay for unique. Something that is one of a kind. The rarer the better.
Do something so good that people can’t wait to see you.
“Make sure it’s mean so them fiends keep on coming back” – Who Dat (Song by J. Cole)
Keep them wanting for more.
They say the riches are in niches.
Mae West wrote on taboo subjects in the 1920’s. She made a mint in real estate and oil. This is what she thought of all that hoopla she made way back when.
I believe in censorship. I made a fortune out of it. – Mae West
Figure out what you are good at and make it happen.
When you start out you have to take what you can get, but when you blow up, you can name your price.
Remember that song Back Then by Mike Jones. Yeah, it can be something like that.
GO AHEAD AND TAKE THE ROAD LESS TRAVELED
Two roads diverged in a wood, and I — I took the one less traveled by, and that has made all the difference. – Robert Frost
Many people have made a fortune off being different.
Success depends in a very large measure upon individual initiative and exertion, and cannot be achieved except by a dint of hard work. – Anna Pavlova
Let’s see some numbers for clarity and perspective.
Only the best can become NFL players. Here is what the best can make.
Rookie Salaries in the NFL
Source: FootballNextLevel.com
Highest Paid Players in NFL
Source: Spotrac.com
These are just salaries for one profession. There are many others.
CEOs are making bank. In addition, so can authors, producers, actors, musicians, professors, doctors, and more can as you can garner success in many other fields.
How hard are you willing to work to make success happen?
Dwayne “The Rock” Johnson says success takes no less than everything you’ve got. You don’t need directions on the road to success, just point to the top and go! Here are a few more of his words of wisdom for motivation.
I'm always asked "What's the secret to success?". The secret is, there is no secret. Be humble, hungry and the hardest worker in the room.
“No man is poor who can do what he likes to do once in a while.” -“Uncle” Scrooge McDuck
I am a huge Disney fan and one of my favorite characters is Scrooge McDuck. He was a Scottish Pekin duck that lived in a huge mansion in a city named Duckburg and had a money bin the size of a skyscraper. For those of you not familiar with this cartoon character I will give some background information.
Scrooge McDuck was created in the 1940’s by Carl Barks for the Walt Disney Company. He was modeled after Ebenezer Scrooge, the main character in Charles Dickens’ 1843 classic, “A Christmas Carol.” Like Ebenezer, McDuck is a tightwad and whose miserly behavior made him a fortune through frugality and hard work. In addition, he has strong similarities to the wealthy American industrialist Andrew Carnegie, who was also a Scottish immigrant, that made his fortune through work and ingenuity. Scrooge also shows similar traits of John D. Rockefeller.
Rockefeller was at one point the world’s richest man and first ever American billionaire. Considering he was a billionaire in the early 1900’s he is still considered as the richest person in modern history. When a reporter asked him, “How much money is enough?” He responded, “Just a little bit more.”
Scrooge’s penny-pinching ways are a constant theme throughout his life, but his belief in thrift, square business dealings through honesty and ingenuity are the reasons for his success. He is often criticized for being tight-fisted and cheap, but admired for his values and work ethic. Even though he is immensely wealthy, he does not shy away from an opportunity, no matter how arduous, to earn more. He often laments that the young want to start in at the top instead of working up from the bottom like he did. The lessons Scrooge teaches his nephews Huey, Dewey, and Louie in the series are always to be smart, have morals, values, good work ethic and to play totally aboveboard meaning fair and square. A short biography is provided below.
Bio
Name: Scrooge McDuck
Birth year: 1867
Nationality: Scottish
Gender: Male
Nickname: Uncle Scrooge
Occupation: Entrepreneur and Business Magnate “Adventure Capitalist”
Education: Informal (school of hard knocks)
Known for: Swimming in his money bin
Amount of wealth: unknown but estimated in the billions
Hobbies: Treasure hunter and adventurer
Relatives: Donald Duck (nephew) Huey, Dewey, and Louie (grandnephews)
Life Lessons from Uncle Scrooge
Humble beginnings. Scrooge truly started from the bottom. He was not born into wealth and started without a dime. He was born to poor farmers and started working as a young boy to earn money. A true Dickensian existence he lived, as he and his family were poor. Regardless, no matter how poor you are, you still have worth. Therefore, know your worth and do not accept anything less. Remember this: “I believe that virtue shows quite as well in rags and patches as she does in purple and fine linen. – Charles Dickens. His first job was as a shoeshine boy in Scotland. This is where he earned his first dime, which he never spent, but would save as a reminder of the importance of hard work. This is the start of his thriftiness and the secret of his wealth.
Scrooge also worked as a cabin boy on a ship to America. He left Glasgow, Scotland as he decided he would be able to make his fortune in America and was inspired to do so after earning his first dime, which was an American coin. He learned from a young age that life is full of tough jobs, but he wasn’t afraid to get his hands dirty. He prospected for gold in the Klondike and that is how he made his first million. His past is not so rosy as not all of his business dealings are done legally, but he learns from these experiences and changes his ways to only doing business fairly.
Education. School of hard knocks. McDuck had no formal education because he went to work at an early age, but became a self-taught and lifelong learner by reading. His extensive travels and business dealings to seek out opportunities allowed him to learn numerous languages where he is able to cut out the middleman as he states he has outsmarted the smarties. There is no one job or niche that secured his wealth. He would go on to diversify his mining money into as many opportunities and investments that he could use to grow his money.
He teaches his nephews the principles of economics, including the history of money, and inflation. Scrooge always does his due diligence and researches any investment before investing because knowledge, discipline, and understanding are the foundation to building a profitable wealth portfolio. Note this witty adage: Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway. – Warren Buffett
Invest in yourself. Scrooge knew that investing in a good education pays the best dividends. He became an avid reader and linguist. This allowed him to do business with people all over the world. Thus, increasing his fortune as there is plenty of money to be made internationally. Scrooge would often say that “knowledge is power.” Due to his research in looking for investment opportunities he built a huge personal library. The secret of wealth is not complicated, but it does require you learn how money works by becoming financially literate. Therefore, your home should look like a Barnes & Noble if you want to build and keep a fortune.
Work ethic. Scrooge believes in hard work and not being a spendthrift are the first steps toward success, he understands that real success comes in working smarter and not harder. Generating multiple streams of passive income, such as ownership of a business or other enterprises are the keys to building lasting wealth. Staying away from get rich quick schemes and knowing that time is your ally not your enemy.
Investments. Scrooge McDuck was shrewd and close-fisted when it came to spending money, but was big on saving. He preferred to have his money work as hard for him as he worked for it through investing in a diversified portfolio of holdings such as art, gold, diamonds, farms, newspapers, rubber, real estate, and other assets. Buy assets that go up in value. Cars and clothes do not. However, rare coins, stamps, books, and art do. He believes in “trickle back economics” in where he gets a piece of the profit from every investment he makes such as from customers buying products from a company he invests in or owns. He limits and cut costs to the bone and only spent when ready or necessary and always would seek to gain a profit.
Inflation. Scrooge teaches his nephews about inflation in the animated short entitled Scrooge McDuck and Money (1967). Basically, as the price of good and services rise the value of currency falls. Meaning that the money in the bank today will be worth less tomorrow. He wanted to teach his nephews that without something solid and secure behind the money, then you get inflation where money becomes worth less and less. A dollar would not be worth the paper it’s printed on. He says “it’s what you can buy with what you have got that counts.”
From worker to owner. Scrooge was bright and not afraid of hard work. He listened to the sound advice of his father and decided he would work smarter not harder. It took him mere months to save enough money to go to overseas to America instead of years through his ingenuity. Businessman was his goal through ownership of numerous commodities. Put money to work for you. Money does not sleep. He even owed the very banks that housed his money! The money is in ownership. He had a simple business motto: Keep it simple so he could run the business himself.
Find your passion. Scrooge always did what he enjoyed which was earning a living and gaining vast sums of money through investing and treasure seeking. Passion means you go the extra mile and continue working even after the clock strikes five. You don’t need vacations or breaks when you’re having fun and doing what you love. When it starts being more work than fun, it’s time do something else.
Treasure hunter. Scrooge likes a challenge. When he learned about the value of artifacts he started to seek out treasures from all over the globe. He works well under pressure and in tight situations that arise from these excursions as he knows pressure makes diamonds; not only in jewelry, but in character.
The infamous Money Bin. Scrooge used to keep his money under his mattress, but when it got too high he decided to build a money bin to keep it more safe and secure, which is why we use banks. It was a three-cubic-acre building and the vault housed the very first coin he ever made called his Number One Dime. He placed it placed on a velvet pillow in glass enclosed case. The Dime’s origins are described in the story called Getting That Heathy, Wealthy Feeling (1964). The bin housed only some of his money that he earned by himself from his personal dealings as he is once heard telling his nephews that the money stored here is “petty cash.” He would often swim in it. It was constantly under attack from his enemies, but he always thwarted them in the end.
Emergency Fund. Scrooge knew that, if something can go wrong it will. He believed in keeping savings and liquid assets just in case. At one point, he hid assets as startup capital should he ever need to start over.
Morality. Scrooge is aggressive when it comes to life and his pursuits, but exhibits strong amounts of self-control. He also has a temper just like his maternal nephew Donald Duck. He does not however use lethal force as he does not want to deal with feelings of guilt, anger, or despair. When helping others, he does not wait or request a thank you. He simply does what he is going to do. He does not believe in burning bridges, but understands that an enemy can be made and is not to be underestimated. He has said that only in fairy tales do bad people turn good, and that he is too old for them and old enough to not believe in fairy tales. “You have enemies? Good. That means you’ve stood up for something, sometime in your life.” – Winston Churchill
He does not believe in cheating and dishonesty as those traits are not prosperous. He also believes in keeping his promises once his word is given. He has once said “Scrooge McDuck’s word is as good as gold.” He practiced what he preached: thrift and integrity. He constantly preached budgeting and being square. If you live your life like you are being followed around all day by a reporter, and everything is on the record, then you may do things differently. Scrooge also believes in the golden rule: treat others as you would want to be treated.
Attitude. Scrooge is very optimistic. There is always another rainbow. Plenty to go around. More than enough for all. The glass is always half-full. Opportunities are always just around the corner.
Resilience. Scrooge is never one to walk away from a challenge or money making opportunity. Regardless of how difficult the terrain or objective may be, Scrooge McDuck can grind it out with the best of them. He has also shown great physical fitness through beating bigger characters, swimming, running and the like. Meaning he still continues to exercise and maintain a stamina that allows him to be mobile and agile well into older age. He has learned to quickly adapt to his surroundings and thrive in any environment and come out on top. He credits his success, which is due to his determination, grit, and will power, on the fact that he is “tougher than the toughies and smarter than the smarties.” Do not give up so easily. When times get tough, get tougher. Work harder, but also smarter.
Persistence. Scrooge is generous and kind in his older years to his nephews, but in his younger days the slaps of life hardened his character. Failure is not an option. He has learned to endure the difficulties of life with a tough exterior and personality to match. Do not be too soft or you will be taken advantage of by others. A great quote by Churchill: “If you’re going through hell, keep going.”
Charity. When Scrooge left for America his mother asked him to write to them and he promised his mother that he would send money home. There are times when he has donated to the poor or given money to the Salvation Army as well as gifting those who have helped him and have less than him. One of the best lessons in life is that you can help others including family. In life, you can’t get something for nothing. You have to give to get.
Family. Although Scrooge has no family of his own, he does have his nephew Donald and his great-nephews Huey, Dewey, and Louie. These are his greatest and most prized possessions: his kin. In one episode of the animated television show Ducktales (1987), episode twenty-two entitled Down and Out in Duckburg which aired on October 13, 1987, the family ends up in the poorhouse. They decide to stick together in the tough times even as people mock and mistreat them. They all even end up washing dishes together to eke out a living. In the end, they stick together as a family, tough it out and regain his fortune. The lesson here is to not ever take for granted or underestimate the importance of family.
Value of money. Scrooge always knew the value of a dollar. He would teach his nephews this through his actions and his words. He was a skinflint who only parted with money when absolutely necessary.
In another episode of the show, the boys asked for a raise in their allowance. Their Uncle Scrooge denies their request as he told them if he raised their allowance they would “grow up to have no respect for money, learn to live a wasteful life and end up out in the street begging for a few measly coins.” If the government just creates money, it loses its value. If everybody had lots of money, prices would go up, and then everyone has to have more money which leads to chaos.
This episode entitled “Dough Ray Me” aired on November 3, 1989 and was the 82nd episode of the series. The boys are able to duplicate money and the self-duplicating coins spread through Duckburg. The town is drowned “funny money” and buried in a “cash avalanche” causing sky high inflation. The episode provides a very funny narrative through its series of events that show how inflation works.
The most notable theme is that money’s only value lies in how hard it is to obtain; “easy or funny money” loses value and leads to inflation. In this story, the boys learn a life lesson in everything that glitters is not gold. There is a price to be paid for everything and the bill always comes due. For example, future inflation grows to gargantuan proportions and money becomes worthless in this episode.
During the “cash avalanche” a newspaper is selling for “only” $200.
A lollipop costs a little girl $5,000; she hauls up a wagon full of money, saying in that case, she’ll take two.
A bus fare costs one poor guy an astounding $10,000 in exact change, which he heaves aboard in a huge sack.
At the dentist’s office, one man is told fillings for his two cavities will cost $40,000 per filling for a total of $80,000. He remarks by saying “Well, at least some prices haven’t gone up…”
Even the nephews complain at one point that it will cost them $30 just to use a gumball machine.
Money is so abundant that the Beagle Boys (series villains) try to rob a bank that has now become a money landfill to the cheers and applause of the bank employees.
In a twist of fate, the “funny money” implodes and everything goes back to normal proving that you really cannot make or get something for nothing and the coins are essentially worthless.
Many revelations are shown throughout the episode. For instance, even the show’s villains think the townspeople are acting unusual and overly generous. The triplets realize spending all their money on the first day of summer was unwise. They start to gain a respect for money in understanding that you need to know more than the price of everything or you will know the value of nothing. Like the Marshmallow experiment or test, that it is often called, of 40 years ago done at Stanford, the boys learn patience is a virtue and delayed gratification and self-control are important characteristics to have in life if one is to be successful.
Profit even in bad times. Profit also can come from unexpected events and misfortune. In one of the comics, a classic tale published in 1951 called “A Financial Fable,” where all of Scrooge’s money is lost in a cyclone blasting all the money to citizens in town is a great example. One day his money bin just explodes and all of his wealth ended up in the hands of the townspeople of Duckburg. He lost all his possessions and wealth, but looked for a way to make it all back. Instead of getting angry or wallowing in despair, Scrooge kept his head down and worked by growing crops on a farm he owned outside the town.
The newly minted rich townspeople stopped working to enjoy their new money and the trappings that go along with wealth. They did not believe in saving for the future, spending wisely, investing or delayed gratification. They spent with reckless and wild abandon. Scrooge’s crops just so happened to reach harvest exactly when the town was running out of food and, since the other farmers had quit growing crops, Scrooge had an effective monopoly on a vital good of commodities. He sold eggs for the price of one million dollars! Of course, Scrooge quickly recouped his fortune from selling his crops to the town at the sky-high prices (millions of dollars) that he was able to set due to the lack of competition. He was able to name his price for his goods and he made them high. This is how fortunes are made.
A monopoly. Like the game with the guy in the top hat, monopoly is all about collecting the most properties, cash, utilities and other holdings to win. A monopoly is a business or industry that is dominated by one corporation, firm or entity. Basically, you cannot buy products or services from virtually anywhere else other than this one place. Monopolies are the extreme result of capitalism. Without any restraints, and absent any regulations, the enterprise becomes so big that it owns all or nearly all of the market (assets, commodities, and supplies).
Anti-Trust laws. Laws were put in place to stop this practice of being a monopoly to ensure the marketplace stays open and competitive. This started in 1890 with the Sherman Anti-Trust Act that was used to break up John D. Rockefeller’s Standard Oil company. Monopolies are illegal because businesses can become discriminate and hurt the public because customers will be at the businesses mercy. Although Scrooge is the richest duck in the world, he believes in healthy competition and obeying the law.
Budgets and Bargain hunting. Scrooge finds deals galore, sticks to a strict budget, and likes anything for free or at a discount. He even teaches economics and inflation to his nephews in how you must manage the household finances through budgeting which is financial discipline. He says proper budgeting should leave a profit. Then you invest the profit. Money should not be idle and should be put to work. He allows the boys to invest in his company and become shareholders to grow their own money into wealth. After consulting his nephews, he requests a small fee and tells them that good things are never free. Remember this: When your good at something never do it for free. – The Joker, DC Comics
In life you make mistakes, but the key is to learn from them. The key to building wealth is to stay out of debt and pay cash for large purchases like cars and appliance. Credit is no replacement for cash. Cash is king.
Bottom Line. Fictional characters can teach valuable lessons in life, such as morale character and finances. The only place that success comes before work is in the dictionary. Working, saving, and investing is the true path to wealth and success.
