Umm...food for thought !Assuming bill gates/Elon Musk plan to realise their complete fortune, will it still be anywhere equal to his assumed net worth ? What is the difference between a assed networth and the actual realisable net worth ? If that's the true net worth the why not calculate that.They'll still be agonisingly rich, but would be far from what economically is assumed.

Valuation Hoax

Welcome to Deepstash

Jevin Shah on Oct 07

In 1964, US President Johnson declared war on poverty. He stated that the wealthiest nation on Earth should be able to beat it. Yet, up to that point, the US had no official measure of poverty and no statistics on its scope, form or changing nature.

The US war on poverty

Poverty refers to not having enough money to buy necessities such as food, shelter and clothing, to maintain a minimally adequate life. In the mid-60s, the government drew up an official method for counting poor people: It examined the annual costs to purchase a minimally adequate diet for a certain sized family, then multiplied that number by three—one third for food expenses and two thirds for all other costs.&nbsp;

Counting the poor

<ul><li>Most analysts believe that the official poverty line is very conservative as today's families must spend more on things other than food. For example, since the 1960s, housing costs have increased by 800%. </li><li>Some sceptics believe that the multiplier should be raised to four or more.</li><li>In 2011, taking into account the differences in the cost of living across the country, an alternative poverty measurement standard was developed.</li><li>The EU defines poverty as the percentage of the population whose income is less than half of the median income.</li></ul>

Other measures of poverty

To solve a problem, you need to understand its scope. Inaccurate measurements, such as the federal poverty line, can minimise the extent of a country's poverty level. Research shows that approximately 60% of Americans will live below the poverty line for at least one year of adulthood. To win the battle against poverty, we must first recognise the poor before we can hope to win the fight against poverty.

Why measure poverty is important

Newer measures of poverty may do a better job of counting America's poor, which is necessary to helping them.

Stashed ideas

Poverty in 2021 looks different than in 1964 – but the US hasn't changed how it measures who's poor

To begin… Tom Corley did his own research to find habits of rich people vs. poor people – to find that 70% of wealthy people eat less than 300 junk-food calories each day. While 97% of poor people eat more than 300 junk-food calories per day.The lesson to be learned? Your body is a temple… treat it as such!

1. The Wealthy Eat Right

<ol><li>We all know that a healthy body usually means a healthy and clear mind. </li><li>According to research, 76% of wealthy Americans exercise at least 4 days a week, when only 23% of poor people do.</li></ol>

2. They Stay in Shape – They Keep FIT!

<ol><li>Blurting out ever thought or idea is not going to get you very far in the business world. </li><li>According to Corley, only 11.6% of the wealthy will blurt out what’s on their mind, compared to a whopping 69% of the poor.</li><li>There is nothing wrong with keeping thoughts and ideas to yourself. </li><li>People will flock to you when they see your success. You will look like a super hero and they will want to know your little known secrets to wealth.</li></ol>

4. The Wealthy Do Not Disclose ALL

<ol><li>Being organized by keeping a to-do list is one of the habits of the wealthy that may seem too simple to be true.</li><li>Research shows that 81% of the wealthy keep a to-do list, while only 19% of the poor will.</li></ol>

5. The Wealthy Keep a To-Do List – They Stay Organized

<ol><li>The wealthy READ! They will read materials related to their career or education to better themselves. </li><li>Research shows that 88% of the wealthy will read for at least 30 minutes each day, while only 2% of the poor do likewise.</li><li>Did you know that 63% of wealthy parents make their children read two or more non-fiction books a month vs. 3% of poor? </li><li>Want to increase your bottom line? Stop playing Farmville or Angry Birds and pick up a book.</li></ol>

6. The Wealthy NEVER Stop Educating Themselves

<ol><li>Showing the love by remembering somebody on their birthday is good business according to Corley. </li><li>It is said that 80% of rich people make it a habit to make birthday calls, compared to only 11% of the poor people.</li></ol>

7. Give Grandma a Call

<ol><li>You want to find the freedom you’ve been desiring for years – to break free from the Rat-Race 9 to 5 and join the distinguished 1% club? STOP WATCHING TV!</li><li>According to Corley, 67% of the wealthy people only watch an hour or less of TV on a daily basis – and only 6% of those watch reality TV. He says that 78% of poor people watch reality TV.</li><li>Watching excess amounts of TV is indulging in the number 1 mind-numbing activity, which keeps people poor.</li></ol>

8. Stop Watching TV 

<ol><li>52% of poor people gamble with the hopes of winning big. </li><li>The lottery and other forms of gambling are designed to make a profit… the odds are not in your favor.</li><li>Only 23% of wealthy people gamble… stop focusing on beating the system and focus on educating yourself for greatness.</li></ol>

9. The Wealthy are NOT Big on Gambling

<ol><li>Making positive choices each and every day, no matter how small, can create healthy and good habits that will pay off in the long run. </li><li>Simply stated… your choices, negative or positive, will be reflected in your results.</li></ol>

10. The Wealthy WILL Make Daily Positive Choices

“I was born poor, raised in poverty and watched my parents die that way. I worked hard, eliminated my bad habits, started doing what the wealthy did. Mostly I stopped blaming others for my lack of wealth. Now I am wealthy, and help others who want to be helped.”

<ol><li>Setting goals for yourself starts with a strong desire. It is stated that at least 80% of the wealthy focus on accomplishing a single goal. </li><li>It is also stated that the wealthy write their goals down in a location to be seen which is 4 times greater than the poor.</li><li>Only 12% of the poor people have a goal written down.</li></ol>

BONUS : The Wealthy Focus on Accomplishing a Single Goal

Are the rich and wealthy people just good with money, or is there a deeper brilliance to their success? Most people including myself would agree that there are certain choices and daily habits that are targeted towards...

Habit

10 Things Rich People Do That Poor People Do NOT - Habits of the Wealthy - TheBlogPilot.com

<ol><li>The purpose of money is not intuitive or linear.</li><li>The person having money easily mistakes overconfidence for optimism.</li><li>Getting rich and staying rich are two different things that require different tools and habits.</li><li>Money makes us fight with ourselves, creating an internal battle.</li><li>Just be patient and save more money.</li><li>Saving increases our options and debt remove them.</li><li>Our expectations cannot catch up with reality.</li><li>No amount of money is enough.</li><li>Spending money to show others how rich we are is an easy way to get poor.</li><li>We are too impressed with what we possess.</li></ol>

The Top 10 Rules Of Money

Money & Investments

Barry Ritholtz asked people for their top 10 money rules last week. Here are mine. What money can and can’t do for you isn’t intuitive, so most people are surprised at how they feel when they suddenly have more or less than before. Money makes it easy to mistake optimism (good) with gullibility (dangerous) and overconfidence (disastrous). Getting rich and staying rich are different things that require different skills. The formula for how to do well with money is simple. The behaviors you battle while implementing that formula are hard. “Save more money and be more patient” is too simple for most people to take seriously, but it’s the best solution to most financial problems. Expectations move slower than reality on the ground, so it’s easy to become frustrated when clinging to the economic trends of a previous era. Everything is relative. John D. Rockefeller was asked how much money was enough and said, “Just a little bit more.” Everyone, at every income, tends to feel the same. Spending money to show people how much money you have is the fastest way to have less money. Debt removes options, savings add them. No one is impressed with your possessions as much as you are.

Money

Money Rules

We tune into television series episode after episode because we&#39;ve become invested in some or all of the character&#39;s lives. Marketers and psychologists measure this on the connectedness scale - the degree to which people think a series and its characters are real.
Even if the characters are rich and live in a 25 bedroom mansion while you live in a studio apartment, you can still connect to characters on a personal level and because you wish you lived a life like theirs.

Why we feel invested in a television series

Everyone loves to see wildly wealthy characters fail in a way because it shows their vulnerability.  Displaying the weaknesses of the characters serve to connect them to audiences. People can identify easier with characters who make mistakes.

Why we feel so captivated by the drama

On one end, we tend to think we can aspire to have some of the nice lifestyles portrayed in the shows - the clothes, the cars, the houses. But we also hate people who can afford and waste things and be so careless about it. Yet, it's just as easy for us to pretend to be something we're not when it comes to money. Even if we know we can't afford something, we can still use our credit card, even if we may struggle to pay it off, but we can certainly buy the item.

The love-hate relationship with rich characters

We often discount the positive of watching how the characters in a television series use and waste money. Money can be a taboo topic, but these forms of entertainment give us the opportunity to open up and discuss what we'd do in a similar situation.

Television shows open up taboo topics

(Paid Content) There&#8217;s the one percent and there&#8217;s the one percent of the one percent. This is a story about the latter. They only fly private, wouldn’t think twice about dropping $2,000 for a pizza covered in 24-karat gold, and put deposits on a casual chance at space travel.