With the announcement of Union Budget 2022, the proposed <a href="https://cleartax.in/s/cryptocurrency-taxation-guide">Section 115 BBH in Budget </a>gave away a significant progressive and futuristic outlook of the government with respect to cryptocurrency in the country.The focus on digital innovation while promoting Blockchain technology touched upon the key points that are supposedly meant to help the industry create sustainable growth. The first step in that direction came with classification of cryptocurrency as virtual digital assets. As per the Finance Bill, the term <a href="https://www.mondaq.com/india/fin-tech/1164634/virtual-digital-assets-in-india-a-sneak-peek-into-india39s-regulatory-framework#:~:text=As%20per%20the%20Finance%20Bill,intentionally%20kept%20wide%20in%20scope.">virtual digital assets </a>includes both cryptocurrency and non-fungible tokens(NFTs) .

What Does The Government Say? 

The main question that arises is how does it impact a retail investor in crypto? <ul><li>Tax Deducted at Source will amount to 1% of the entire transaction amount.</li><li>Any profits made from sale of cryptocurrency will be taxable at a flat rate of <a href="https://cleartax.in/s/cryptocurrency-taxation-guide">30% w.e.f April 1, 2022. </a></li><li>Loss incurred from digital asset holding can not be set off against any other income.</li><li>The tax is on the basis of cumulative net gain on a transaction. For example, in case the profit from one cryptocurrency is ₹20000 and the loss is ₹6000, then the net taxable amount is ₹14000.</li><li>The only deduction to be allowed is the cost of acquisition. </li></ul>

Indian Crypto Investor Woes

India has the potential to become a crypto superpower, as it is emerging as one of the hottest internet markets in the world, with almost <a href="https://edition.cnn.com/2021/03/08/tech/india-internet-homegrown-apps/index.html">750,000,000 users </a>, and millions waiting to join the Great Internet Factory.Blockchain data platform Chainanalysis, published a report ranking <a href="https://edition.cnn.com/2022/03/03/investing/india-cryptocurrency-investing-future-hnk-intl/index.html">India second behind only Vietnam </a>in the list of countries seeing the speediest growth in the realms of cryptocurrency adoption. With no official estimates of the current cryptocurrency users in the Indian market, the unofficial number is more than <a href="https://edition.cnn.com/2022/03/03/investing/india-cryptocurrency-investing-future-hnk-intl/index.html">20 million crypto investors. </a>

THE FUTURE OF CRYPTOCURRENCY IN INDIA 

The <a href="https://time.com/nextadvisor/investing/cryptocurrency/donate-crypto-to-ukraine/">donations to Ukraine in cryptocurrency </a>have showcased the potential that these unregulated digital assets hold. With the ability to eschew bureaucratic red tape, crypto has safeguarded and funded the war from Ukraine’s side.However, the counters in Russia, have alleged that <a href="https://news.bitcoin.com/russian-prime-minister-economy-ministry-support-legalization-of-cryptocurrencies/">legalization of cryptocurrency </a>could save the country from the current dearth of funds and jumping the SWIFT ban that was imposed on the country. With an untapped potential and still looking into the mainstream world, the journey to become acceptable around the globe, is still a long way to be walked upon.

THE GLOBAL DILEMMA

With the announcement of Union Budget 2022, the proposed Section 115 BBH in Budget gave away a significant progressive and futuristic outlook of the government with respect to cryptocurrency in the…

crypto

Cryptocurrency

moneyandinvestments

Money & Investments

to invest or not to invest?- the Indian crypto dilemma.

Do What You Love Or Love What You Do.

Saving Only Will Never Make You Rich, Invest.

Feel Proud Of Your Own Decision.

If Taken The Decision Stick On It.

Enjoy & Celebrate Even The Tiniest Achievement.

You Are Worth It

Face Everything With A Smile On Your Face.

Never Judge A Person.

State Of Patience Is The Toughest Thing.

Make Best Use Of The Things You Already Have.

philosophy

Philosophy

career

Career

personaldevelopment

Personal Development

10 Lessons From a teen to a teen 

Thomas J. Stanley, the author of the book The Millionaire Next Door, studied over 1,000 millionaires and found that 80% of millionaires didn't inherit their wealth. They built it. The first step in building wealth is more personal than building millionaire habits or investing wisely. It is to change or build your mindset that encourages wealth. That means you believe that you can access wealth.

You are worthy of wealth

For many, it requires effort to develop a mindset believing that there are enough resources and opportunities for everyone. This is more true for those who grew up with limited resources. Studies show that our financial habits are formed by age seven. It means that our feelings about money are influenced by how people around us talk and behave with money. Before becoming a millionaire, we should rewire our brains to expect abundance. This means we should pay attention to our thoughts, then choose to entertain different ones.

Let go of limiting beliefs

Many people will stop themselves from desiring wealth because they believe that money is the root of all evil. But understanding that you can use your money to help others can be a game-changer. Money can do as much good as it can evil. Don’t let fear stop you from pursuing wealth.

Accept that money is not always evil

You are worthy of wealth, despite the systems designed to keep it from you.

motivationandinspiration

Motivation & Inspiration

How to Build Wealth When You Don’t Come from Money

You have probably heard of Beeple, an American digital artist who sold his NFT piece (a collage of digital images) and made USD 69 million at an auction. And there is similar news of an artwork sold at Christie’s auction house (the first example of an NFT artwork) for USD 131,250. All of it shows what NFTs (non-fungible tokens) can do to our lives.And if you are searching for ways to create an NFT and begin trading? You’re at the right spot.But NFTs are much more than just digital artwork and stories of people who made millions and billions out of this new trade.

A Beginner’s Guide to Minting NFTs

First, NFT stands for Non-Fungible Token. Here, non-fungible refers to some entity that cannot be exchanged or interchanged. And by its definition, an NFT is an authentication certificate or a digital asset representing the objects in the real world. And by “Token,” we mean the interchangeable item. These items are the ones that you can trade online, such as art, music, collectibles, videos, in-game items, GIFs, etc.,For example, years of the old tweet can be an NFT, too, like Jack Dorsey (the former CEO of Twitter) used his tweet as an NFT and made millions of US dollars.

What is an NFT, or what do you understand by an NFT?

To provide a secure ledger for its trade and preserve its uniqueness . Blockchain is the only technology that can do it safely, making it easy for anyone to buy and sell NFTs.Remember, each token’s value may increase or decrease since it depends on the growth of the NFT market.Again, making it easy for you to understand, a simple example of a non-fungible item can be a picture of a signed dollar (using unique color ink for the signature).

But why the blockchain and not any other means of technology?

-No probability of making its copy.-No other token can replace it.-No two individuals can own the same NFT.-It has a unique code, differentiating it from every other digital replica.-It’s an authentication certificate that gives you its ultimate ownership.-It can help people verify the right of a digital asset.

features of an NFTs:-

It’s a digital era, and an NFT’s purpose is simple — maintaining all digital assets’ uniqueness and authenticity through rightful ownership.NFTs are those digital assets that are transferable and secured by a digital ledger based on blockchain technology called Ethereum or any other Crypto Cryptocurrencies that are most secure and highly protected by blockchain technology.Remember, Cryptocurrencies are fungible assets.

How does an NFT work in the real world?

Blockchain is a digital ledger or a system that tracks digital information using ultimate security. Neither you nor anyone can hack, change or cheat on such a system that stores all transactional details of your digital assets such as Cryptos, NFTs, etc., within a well-established network of thousands of computers connected worldwide.NFTs are based on blockchain technology to verify the authenticity and ownership of each digital asset. And blockchain makes it easy to have the right to ownership of an NFT, fixed in a blockchain and making it highly secure.

What is lockchain?

NFTs relevancy comes from the fact that they allow you to tokenize digital assets – from artwork to real estate, i.e., make money out of anything that can be transformed into an NFT and start trading to make a ton of money just like that! However, it’s difficult as being said.You can use NFTs to –<ul><li>Boost earnings of digital content creators and artists all over the globe.</li><li>Have digital assets and start trading to get a handful of experience. </li><li>Enhance gaming experience on desktops and mobile phones using in-game avatars or assets.</li><li>Improvise your brand’s awareness among target groups. </li></ul>

Why Are NFTs Even Relevant?

Minting an NFT refers to turning a digital file or asset into an NFT (i.e., making a digital file unique using available means and tools) on the Ethereum or similar blockchain. This NFT is stored on a decentralized database, making it possible to edit, modify, or delete. Yes! You can do it.As mentioned before, people mostly use Ethereum to trade NFTs in the online space.Whatever you do with the blockchain from minting to trading NFTs will cost you a gas fee! This fee can vary depending on your needs. Now , let's go step by step in the journey of NFT😁

Miniting NFT

Thorough research would give you a better understanding of available marketplaces online and allow you to find a valid one to sell your NFT.List of Top NFT marketplaces:-OpenSea Rarible FoundationNifty Gateway* Rarible and OpenSea use the “lazy minting” system, i.e., creating NFTs on such marketplaces without even losing your penny!

Step-1: Perform thorough research and select an NFT marketplace

A crypto wallet is like a bank account that helps you store your NFTs and crypto assets that you create or buy. Besides holding your private keys, a crypto wallet keeps your crypto assets safe and accessible. Such wallets can be both physical and digital.Here are some most popular crypto wallets:MetaMask Coinbase Wallet Math Wallet ﻿﻿

Step-2: Setting up a wallet for crypto

Once you are over with the second step, it’s time to connect your crypto wallet to the desired marketplace.For instance, if you’re selling or would want to sell your NFT on OpenSea, kindly visit their website and click “create.” It will redirect you to a new tab containing a list of all popular crypto wallets compatible with OpenSea. Once you have figured it all out, choose the crypto wallet you wish to connect with your OpenSea account. And that’s it! Your crypto wallet gets plugged into the OpenSea marketplace for NFT trading.

Step-3: Connecting the crypto wallet to a marketplace

Finally, let’s get to the core part — creating your NFT. If done cleverly, it can change your life overnight.So, to create an NFT on OpenSea, you can<a href="https://support.opensea.io/hc/en-us/articles/360063498333-How-do-I-sell-an-NFT-">follow the following steps </a>–Open any web browser and search for the website; OpenSea.Then, go to → “My Collections” mentioned in the top right corner of your profile → Click on “Create a Collection.”Now, fill in all the required details and upload the file you want to sell as an NFT. Here, you can select the file format, name your file, mention external links to your social media, and add a description.

Step-4: Creating your NFT

Once you have created your first ever NFT for trade, then comes the next part, where you need to decide the price of your NFT so that you can sell it.There are three basic strategies to set a price tag for your NFT:Fixing the Price: Here, you give a fixed price for your NFT and put it out there for its sale.Timed Auction: You can put up your NFT for auction. And the best part is — you’re allowed to decide the duration of your auction.Bidding: Once you put up your NFT at the online marketplace, it will be open for people to start bidding on your NFT to buy it.

Step-5: Taking on to decide pricing strategy 

You know what minting is — turning your idea (digital art, etc.) into a digital asset called an NFT so that you can associate a price tag to it and sell it. And for this, initiate a digital wallet it will charge a gas fee to initialize your account. So if you’re a novice user, you will need to pay for minting your NFT, else no need!

Step-6: Minting your NFT

Once you’ve finished working on your pricing strategy for your NFT, then go ahead and list your NFT for sale on OpenSea by clicking the button “Complete Listing.”You can only list your NFT after signing a few transactions using your crypto wallet. Once it’s over, you will see a screen announcing your NFT is now listed for sale 🎉

Step-7: Listing your NFT  

In experts’ views all around the globe, listing an NFT on OpenSea can cost you USD 200 — USD 450 if you’re a first-timer. It may seem high since this includes the gas fee you pay to record your NFT on a blockchain. This fee may vary from time to time .Along with that, the NFTs’ sales are skyrocketing. Sales are up from around USD 41 million in 2018 to a jaw-dropping USD 44 billion and more in 2021. As an entrepreneur, it would be best to invest in NFTs as a creator or a service provider in this industry

Cost And Returns Of  NFT 

You have probably heard of Mike Winkelmann, a.k.a. Beeble, an American digital artist who sold his NFT piece (a collage of digital images) and made USD 69 million at an auction. And there is similar…

Creating Your First NFT: A Beginner’s Guide to Minting NFTs

Don’t work for money, make money work for you

Money Management 

Poor work for money, the money work for rich

If your financial intelligence is low, money will run all over you. It will be smarter than you. If money is smarter than you, you will work for it all your life

Poor dad tells his son :
Study hard and get a good job at a big company. 
Rich dad tells his son : 
Study Hard and get a good company to buy.

Most people fail to realize that in life, it’s not how much money you make, it’s how much money you keep

Money without financial intelligence is money soon gone.

The lack of money is the root of all evil

A person can be highly educated, professionally successful, and financially illiterate.

If you want to go somewhere, it is best to find someone who has already been there.

Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth.

So many people say, ‘Oh, I’m not interested in money.’ Yet they’ll work at a job for eight hours a day.

The primary difference between a rich person and poor person is how they manage fear

Although we have been successful in our careers, they have not turned out quite as we expected. We both have changed positions several times-for all the right reasons-but there are no pension plans vesting on our behalf. Our retirement funds are growing only through our individual contributions. Michael and I have a wonderful marriage with three great children. As I write this, two are in college and one is just beginning high school. We have spent a fortune making sure our children have received the best education available. One day in 1996, one of my children came home disillusioned with school. He was bored and tired of studying. “Why should I put time into studying subjects I will never use in real life?” he protested. Without thinking, I responded, “Because if you don't get good grades, you won't get into college.” “Regardless of whether I go to college,” he replied, “I'm going to be rich.”

habits

Habits

books

Books

Kiyosaki is best known for his book Rich Dad, Poor Dad, the #1 New York Times bestseller. Kiyosaki followed with Rich Dad's CASHFLOW Quadrant and Rich Dad's Guide to Investing.

Robert T. Kiyosaki

Rich Dad, Poor Dad

One of the most significant effects of DeFi is that users now have more control over their assets. However, many of the most popular DeFi initiatives provide tools for users to manage their assets, such as purchasing, selling, and transferring digital assets. As a result, consumers can earn interest in their digital assets. DeFi allows consumers to keep their sensitive data private. asset management is considered one of the most useful decentralized finance applications for users.

1. Asset Management

Know-Your-Customer (KYC) protocols are extensively emphasized in traditional banking systems. KYC rules are the company's most important compliance instrument for implementing anti-money laundering (AML) and counter-terrorist financing (CFT) measures. KYC rules frequently conflict with DeFi's privacy efforts. DeFi addresses this problem using a more recent notion known as the Know-Your-Transaction (KYT) method. This method implies that the decentralized infrastructure would be more concerned with transaction behaviors and digital addresses than with the users' identities.

2. Compliance and KYT

In DeFi, DAOs are the centralized financial institutions' counterparts, making them one of the pillars of decentralized finance use cases. Centralized financial entities play a significant role in the traditional system.These organizations function as administrative bodies that oversee basic financial operations like fundraising, asset management, and governance implementation. On the other hand, DAOs are decentralized by nature and do not follow the boundaries set by central governments or agencies.

3. Decentralized Autonomous Organizations(DAOs) 

DeFi projects like DeFi Pulse and CoDeFi Data are delivering a lot of value in terms of analytics and risk management. Subsequently, businesses have become more agile as a result of these competitive advantages.

4. Data Analytics

Tokenized derivatives may be created using smart contracts, which has become one of the most interesting DeFi use cases.

5. Derivatives

Composability is one of the key design principles of DeFi protocols, which means that different components of a system can readily connect and communicate with one another. Here, many people compare DeFi development to building with legos, earning the moniker "money legos" in the process.Also, Ethereum developers and product teams can now build and launch <a href="https://bit.ly/3Kv09WS">DeFi protocols </a>with the full-stack tooling and security integrations they require, thanks to Truffle's smart contract libraries, Infura's API suite, and Diligence's security tools.

6. Infrastructure tooling

In recent times, blockchain-based digital identities are gaining more traction. However, pairing them with the DeFi protocols would give them easy access to the global economic system. Moreover, the new type of digitized identity would help the underprivileged access DeFi apps from anywhere on the internet. Also, it could be one of the potential use cases.

7. Digital identity

Insurance is a major financial industry that has proven to be one of the most prominent DeFi use cases.However, a variety of novel insurance options have emerged to assist customers in obtaining coverage and protecting their assets. Moreover, with the successful implementation of smart contracts, all the issues with the current system can be solved.

8. Insurance

As the traditional banking systems are getting out of the competition due to DeFi, the emergence of a lending and borrowing use case proves to be vital.However, the DeFi ecosystem is appropriate for peer-to-peer borrowing and lending. Several DeFi projects concentrating on this use case have already entered the market. Likewise, Compound and Pool together have autonomous interest-based protocols for borrowing and lending assets.

9. P2P lending and borrowing

Users can vote and exchange value on the outcome of events in blockchain-based prediction markets, which harness the crowd's wisdom.However, market prices serve as crowdsourced indicators of an event's likelihood. Augur, a popular DeFi betting platform, offers prediction markets for election results, sporting events, economic events, and other topics.

10. Prediction Market

The Ethereum blockchain ecosystem gave the world new technological capabilities, including digital assets, smart contracts, and decentralized applications (DApps).All of these tools have become essential components of decentralized finance initiatives as they addressed the primary problems in the previous system, DeFi projects quickly became mainstream successes. You can make an entry into the DeFi system with the help of top-tier DeFi development companies.

Conclusion

Traditional finance has found its hideout as DeFi has started to take control. However, the future

Top 10 Decentralized Finance (DeFi) Use Cases

As far as comparisons go, I’m off to a bad start! :( If I’m being honest, I’ve probably only gotten a couple of hours of reading in during the past few weeks. Wait, can we include blogs and reading finance news on the Internet?… If so, I definitely do that 30+ mins each day!

88% of Millionaires Read 30 Mins or More Every Day


Furthermore, 63% of wealthy people spend less than 1 hour daily “surfing the Internet.”Well, I guess I FAIL in this category, too. My wife and I usually spend about 1 hour watching TV each night, maybe a little more if we’re hooked on a fun series (like our most recent fav, Ted Lasso). But, this TV habit will be kicked shortly when we invite a little one into our home and all our free time disappears! ;)

Most Millionaires (67%) Watch Less Than 1 Hour of TV Daily

Woohoo! I definitely align with this one. I love what I do for work currently – and so does my wife!Probably the most interesting thing I learned about this survey question is how the financially struggling people answered… While most “rich” people liked what they did, 96% of “poor” people said they did NOT like what they did for a living.Surprising? Not surprising? Maybe when you have financial stability it changes the way you perceive your work?

Most Rich People (86%) Like What They Do for a Living

This makes sense. What’s the point of accumulating a bunch of money if you’re not healthy enough (or alive) to enjoy spending it!? Investing your money coincides with investing in your health.My wife and I work out at least 4 times a week. Lately, it’s been more like 6 times a week!  (Again, this habit will probably go out the window when we have kids haha.)

76% of Millionaires Exercise at Least 4 Days a Week

Other frugal stats for millionaires:30% of wealthy people clip coupons8% shop at thrift stores!This dispels the myth that rich people splash around money without thinking. It’s actually the opposite… Most wealthy people are quite intentional with spending, looking for added value and discounts wherever possible. My wife and I are proud to say we align well with this spending habit. We love us some Goodwill bargains.

67% of Millionaires Said They Were “Frugal With Their Money”

Ah, crap. Not only did my wife and I blow $8k+ on vacations last year ($4k on our Hawaii trip alone), but this year we’ve got $10k in our travel budget! Oooops.But, this is a habit I’m OK not conforming to. Vacationing is something I want to incorporate more into my life, not less. Well, that’s how I feel today… Maybe I’ll be singing a different tune later in life.

Most Wealthy People (55%) Spend Less Than $6,000 on Vacations Each Year

Only 6% of surveyed wealthy people buy lottery tickets. Whereas, 77% percent of survey respondents who struggle financially play the lottery weekly. My wife and I don’t play the weekly lotto. But we love going to Vegas every now and then and playing craps (at the cheapest table we can find). Gambling can be fun… But not as a lifestyle!(Ooooh this reminds me, I have to write a post about a book I read called The Luck Factor which has a great section on “lucky” people and how they pick lotto numbers.)

Wealthy People Do Not Buy Lottery Tickets (94%)

10 Millionaire Spending Habits -- How Do You Compare?

Metaverse platforms intentionally limit the size of their digital worlds, so they can parcel out pieces of land to be bought and sold on virtual real estate marketplaces.Across the top 4 metaverse platforms — Sandbox, Decentraland, Cryptovoxels, and Somnium — there were over $500 million worth of virtual real estate sales just last year. Virtual real estate got a boost during the pandemic, when people started spending more time online, and then another one when Facebook changed its name to Meta.

What Is Virtual Real Estate?

Virtual real estate is a highly speculative investment. Still, there are some basic principles to evaluating virtual real estate. <ul><li>Building something interactive on the land can raise a property’s value because it allows you to charge for admission or lease out space.</li><li>Heavily-trafficked areas are also going to be worth more. The more avatars that visit a property, the more you can make from foot traffic or selling ad space.</li><li>Being close to other valuable properties can make yours more valuable. </li><li>The value of virtual real estate depends entirely on how much other people value it — just like money.</li></ul>

How Much Is Virtual Real Estate Worth?

<ul><li>The future of the metaverse is still uncertain. </li><li>There’s no way to know which metaverse platforms will stand the test of time. </li><li> Digital land can be infinitely replicated. And yet scarcity of land is what gives it value. So virtual land is vulnerable to a high level of volatility.</li><li>When you buy virtual real estate, you’re also buying something that’s not tied to reality. People just don’t need virtual property the same way they need physical property. </li><li>Metaverse platforms rely heavily on blockchain technology. Most use cryptocurrencies for processing real estate transactions, which are highly vola<warningtag>tile in and of themselves. </warningtag></li></ul>

The Risks of Investing in Virtual Real Estate

Ultimately, the value of virtual real estate depends entirely on how much other people value it — just like money.

technologyandthefuture

Technology & The Future

Is Virtual Real Estate in the Metaverse a Good Investment?

Intellectually, we may know that money can’t buy happiness, but some part of us still cling to the thought that we’d feel better if we were rich. Yet when we really look at wealthy people, we wonder if they are any happier than the average person. Hence, we dive deeper and come up with questions like:Do wealthy people laugh more, experience more joy, or have greater fulfillment in their lives? Perhaps some do – but how much of it is a direct result of their wealth?

You can probably enumerate a handful of wealthy people that appear to be completely miserable, and some of them feel emptier the wealthier they become! These are the very same people who are under the misconception that money is the solution to every life's problem.

I’m sure you’ve heard stories about people who won a lottery or attained a large sum of money through an inheritance and other means. These very same people had financial struggles, and after attaining a large sum of money and used it as they please, end up flat broke again, realising that money didn't solve all of their problems, but rather, has only made their lives worse.

One of the most common reasons why wealth can make us miserable is that it distracts us from what is truly important for a happy and fulfilling life. We find ourselves focusing more and more on material objects and end up feeling disconnected from our inner selves.

If you are feeling unhappy in your life right now and you’re thinking that money will solve your problems, it's time for a reality check! I won’t deny that having material abundance can make our lives a little easier.

Believe me, I know how it feels to struggle financially for I have witnessed my mom borrow money just so she can put food on our table. I know the feeling of going home from school then turning on the light's switch or the faucet, only to see them shut off, immediately realising that we were unable to pay for electric and water bills again, which then lead to my experience of having to study for my exams under the gleaming candlelight and then going to my aunt's house early in the morning the day after to take a bath before going to school.

Living a life like this felt like living on the edge of a cliff where the ground is crumbling beneath my feet, making me think that life would be so much better and easier through having money. This is true, but why is it that this has also become the reason why other people have miserably, unhappy, empty lives?

It's important for us to be clear of how we can use the money we have attained in a manner that will make us feel even happier, rather than emptier. It is also very important for us to know that having a lot of money will not automatically make us feel happy, fulfilled, and content in life. Yes money can definitely help us enjoy a greater quality of life, but only if we have a healthy attitude towards money; otherwise it will just add heavier problems.

"In the dark, bewildering, trap-infested jungle of misinformation and opaque riddles that is the world of investment, JL Collins is the fatherly wizard on the side of the path, offering a simple map, warm words of encouragement and the tools to forge your way through with confidence. You'll never find a wiser advisor with a bigger heart." -- Malachi Rempen: Filmmaker, cartoonist, author and self-described ruffian This book grew out of a series of letters to my daughter concerning various things-mostly about money and investing-she was not yet quite ready to hear. Since money is the single most powerful tool we have for navigating this complex world we've created, understanding it is critical. "But Dad," she once said, "I know money is important. I just don't want to spend my life thinking about it." This was eye-opening. I love this stuff. But most people have better things to do with their precious time. Bridges to build, diseases to cure, treaties to negotiate, mountains to climb, technologies to create, children to teach, businesses to run. Unfortunately, benign neglect of things financial leaves you open to the charlatans of the financial world. The people who make investing endlessly complex, because if it can be made complex it becomes more profitable for them, more expensive for us, and we are forced into their waiting arms. Here's an important truth: Complex investments exist only to profit those who create and sell them. Not only are they more costly to the investor, they are less effective. The simple approach I created for her and present now to you, is not only easy to understand and implement, it is more powerful than any other. Together we'll explore: Debt: Why you must avoid it and what to do if you have it. The importance of having F-you Money. How to think about money, and the unique way understanding this is key to building your wealth. Where traditional investing advice goes wrong and what actually works. What the stock market really is and how it really works. Why the stock market always goes up and why most people still lose money investing in it. How to invest in a raging bull, or bear, market. Specific investments to implement these strategies. The Wealth Building and Wealth Preservation phases of your investing life and why they are not always tied to your age. How your asset allocation is tied to those phases and how to choose it. How to simplify the sometimes confusing world of 401(k), 403(b), TSP, IRA and Roth accounts. TRFs (Target Retirement Funds), HSAs (Health Savings Accounts) and RMDs (Required Minimum Distributions). What investment firm to use and why the one I recommend is so far superior to the competition. Why you should be very cautious when engaging an investment advisor and whether you need to at all. Why and how you can be conned, and how to avoid becoming prey. Why I don't recommend dollar cost averaging. What financial independence looks like and how to have your money support you. What the 4% rule is and how to use it to safely spend your wealth. The truth behind Social Security. A Case Study on how this all can be implemented in real life. Enjoy the read, and the journey!

"In the dark, bewildering, trap-infested jungle of misinformation and opaque riddles that is the world of investment, JL Collins is the fatherly wizard on the side of the path, offering a simple map, warm words of encouragement and the tools to forge your way through with confidence. You'll never find a wiser advisor with a bigger heart." -- Malachi Rempen: Filmmaker, cartoonist, author and self-described ruffian This book grew out of a series of letters to my daughter concerning various things-mostly about money and investing-she was not yet quite ready to hear. Since money is the single most powerful tool we have for navigating this complex world we've created, understanding it is critical. "But Dad," she once said, "I know money is important. I just don't want to spend my life thinking about it." This was eye-opening. I love this stuff. But most people have better things to do with their precious time. Bridges to build, diseases to cure, treaties to negotiate, mountains to climb, technologies to create, children to teach, businesses to run. Unfortunately, benign neglect of things financial leaves you open to the charlatans of the financial world. The people who make investing endlessly complex, because if it can be made complex it becomes more profitable for them, more expensive for us, and we are forced into their waiting arms. Here's an important truth: Complex investments exist only to profit those who create and sell them. Not only are they more costly to the investor, they are less effective. The simple approach I created for her and present now to you, is not only easy to understand and implement, it is more powerful than any other. Together we'll explore: <ul><li>Debt: Why you must avoid it and what to do if you have it.</li><li>The importance of having F-you Money.</li><li>How to think about money, and the unique way understanding this is key to building your wealth.</li><li>Where traditional investing advice goes wrong and what actually works.</li><li>What the stock market really is and how it really works.</li><li>Why the stock market always goes up and why most people still lose money investing in it.</li><li>How to invest in a raging bull, or bear, market.</li><li>Specific investments to implement these strategies.</li><li>The Wealth Building and Wealth Preservation phases of your investing life and why they are not always tied to your age.</li><li>How your asset allocation is tied to those phases and how to choose it.</li><li>How to simplify the sometimes confusing world of 401(k), 403(b), TSP, IRA and Roth accounts.</li><li>TRFs (Target Retirement Funds), HSAs (Health Savings Accounts) and RMDs (Required Minimum Distributions).</li><li>What investment firm to use and why the one I recommend is so far superior to the competition.</li><li>Why you should be very cautious when engaging an investment advisor and whether you need to at all.</li><li>Why and how you can be conned, and how to avoid becoming prey.</li><li>Why I don't recommend dollar cost averaging.</li><li>What financial independence looks like and how to have your money support you.</li><li>What the 4% rule is and how to use it to safely spend your wealth.</li><li>The truth behind Social Security.</li><li>A Case Study on how this all can be implemented in real life.</li></ul> Enjoy the read, and the journey!

Jl Collins

The Simple Path to Wealth

Always when you speak to some Then make sure to Mention their Name Instead of (Bro, Buddy, ETC). It creates a culture of respect, recognition, and consideration for the discussion.

1. Call People by their name:

Writing an Email to yourself isn’t just a fun exercise for writers; everyone can (and should!) give it a try. You might wonder what should go in a letter to yourself, but the answer is, anything that is important to you! <a href="https://audiobookmc.blogspot.com/2022/02/why-you-should-write-letter-mail-to.html">Click Here to Read More.</a>

2. Write emails to yourself in the Future:

Don’t try to remember all the things Because remembering all the things is not easy stuff & Human brain isn’t made for it. So, let the things go according to Brain.

3. Do not try & remember everything:

When you Wake up then just do smile in front of the mirror & say to yourself Awesome it will help you to build Confidence & Most important is Self Love.

4. Wake up and smile at the mirror(Awesome): 

Meeting new people every week will help you to increase Your communication skill, Confidence in facing new people, & with this, you get to learn some new things from the next person. You Might do this via; Video Conference, One on One, Email, or anything which makes your Conversation.

5. Meet someone new every week:

Reading is also called the path for success, don’t keep Big Target's just start with daily 30min of reading a book or whatever you want which will help you to increase you Knowledge. after this you can increase your time according to you.

6. Read 30 minutes every day without setting any goals:

Being Gratitude is a life-changing skill in itself, it shows about your personality & your social character. It is also important because nowadays we are taking people for granted, So we have to change this mindset.

7. Say thank you even if they’re not listening to you. (Gratitude):

This means that you are should depend on your luck, you have to search for it because nothing is gone come to you on the base of luck. So, you have to daily do stuff that keeps your Energy on Full-High As well as your Motivation.

8. Don't leave inspiration to chance:

It is Not Important how much you Invest It is how Consistently you Invest, Investing is an effective way to put your money to work and potentially build wealth, Smart investing may allow your money to outpace inflation and increase in value. The greater growth potential of investing is primarily due to the power of compounding and the risk-return tradeoff. So, due to this, you have to make sure to invest every Month, Especially in your 20’s because by the age of 40-50 you are sitting on such a big Corpus you even can’t imagine it.

9. Invest every month:

Many decisions we take with Emotions like when every we are buying a car, house, phone &, etc. I am not telling you that it is not a good decision to have these things. But the point is that think about it wisely take your own time & make a Practical decision. To make a Practical decision you can use Excel Sheet to cross Check your decision.

10. Know and learn numbers before emotions:

Everyone has their own Problems But some problems are there which don’t let you sleep at night. I know that you have been Trying to short this problem but due to the issue of Procrastination, you haven’t done it. <a href="https://audiobookmc.blogspot.com/2022/01/8-tips-to-avoid-procrastination.html">Click here to Learn More about Procrastination.</a>

11. Do something about the problem that doesn't let you sleep at night:

Breathe deeply this is one of my regular based activity. Whenever you Get Anger, Confused, Pressure, Stress, or any other Situation in which your brain feels Out. then take a deeply Breathe. it will work like Clearing the ram of your phone to Brain, it will suddenly start working with more Energy. this can also work as Quick Meditation if you do Meditation regularly.

12. Breathe deeply(Sudden Meditation):

Nowadays we many of are working remotely from our comfort zone but after some we get Bored, it just because our sub-conscious Mind gets notified when you wore Cloths which you mainly ware after work(Shorts, Tees &, etc) or Night ware. So, you make sure to wear proper clothes which you ware for your Office or any other Formal ware & Also this will help you to get into proper Disciplined manner. Same for the Students.

13. Dress up nicely every day (Keeps You Disciplined):

Compliment People when they do something which touches your heart then you always make sure to Compliment that person because your few words will help to & Inspire them to work on it. This Process will transfer the Positive Energy & When you transfer the Positive Energy Eventually you are also Getting it Back.

14. Compliment people:

When we hear the word Workout then we get Flashed by the GYM. So, it doesn’t mean just GYM anything which involves to physical activity like walking, Running, Dancing &, etc. One of the worst things you do is Messing with your body eating anything like junk food, no proper workout, etc. ( from the Personal Experience)

15. Workout every day (because health is no.1 priority):

The Pomodoro Technique is a Time management system that encourages people to work with the time they have—rather than against it. Using this method, you break your workday into 25-minute chunks separated by five-minute breaks. ... After about four pomodoros, you take a longer break of about 15 to 20 minutes.<a href="https://deepstash.com/idea/188787/rule-no-14-pomodoro-technique"> Click here for more.</a>

16. Use Pomodoro technique(can also work in a lazy situation)(25+5 Rule):

Nowadays we are just following anyone on social media or in the world of WEB 3.0, we have to just follow those people who are adding value to your life, those who add Knlowedge to your Infinite brain, you have to fill your brain with the Right Kind content. “Don’t run behind the Short time Pleasure Walk with Long term Pleasure, Happiness, Well-being & Kind.”

17. Follow only positive people:

Making a proper routine will help you to get Maximum things Done on time. <a href="https://audiobookmc.blogspot.com/2022/01/15-rules-for-productivity-in-study-work.html">Click here to read more about it</a>.

18. Follow a routine(Keeps You In Discipline): 

Meditation can give you a sense of calm, peace, and balance that can benefit both your emotional well-being and your overall health. And these benefits don't end when your meditation session ends. Meditation can help carry you more calmly through your day and may help you manage symptoms of certain medical conditions.

19. 15-20 Minutes of Meditation Daily:

Sit at a place where no Disturbance With the Focus and calm & Ask yourself one question that ‘what I am doing wrong & I know it, it is Wrong. Because when we ask this question we Realise the Truth, the very bitter truth, that truth which presents a solution to us, which we may not want to hear, but it is Important for us, We always know that something is not going right with us, we Always know that we are doing something wrong, but we don't want to accept it. We just never want to accept it, we never want to admit it & that becomes the reason Why we Struggle & fail in life.

20. Ask yourself, what am I doing wrong that I know that is wrong? 

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“Don’t run behind the Short time Pleasure Walk with Long term Pleasure, Happiness, Well-being & Kind.”

Namaskaram, This a Quick Guide for Teenagers  "20 Habits you Should Know & Follow in Your 20’s" hope this will help you.

20 Habits you Should Know & Follow in Your 20’s

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