Tool Kit | wealthymatters

Cut Your Losses Fast

January 12, 2013 Leave a comment

And here’s why……..

wealthymatters

What’s the chance that your losers will give the sort of chart busting returns to recoup your losses?In the mean time you are losing the chance to earn at least savings bank returns on your money.You don’t get to spend the sort of money your managers are losing you.Inflation is making the remaining less valuable.And you are losing out on money you could make by reinvesting in better avenues.

Its painful to lose money but more painful to stick with the losers.

Filed under Paper Assets, Tool Kit Tagged with cut your losses, hurdle rate, Inflation, Investing, mutualfunds, opportunity cost, postaday, reinvest your money, risk free rate of return, shares

Think Better Faster Cheaper

January 11, 2013 2 Comments

” The man who comes up with a means for doing or producing almost anything better, faster or more economically has his future and his fortune at his fingertips.” – J Paul Getty

Filed under Entrepreneurship, Tool Kit Tagged with innovation, JP Getty, postaday

Value Your Time

January 11, 2013 4 Comments

“The #1 guideline to success is you must be in business for yourself.When you work for someone else, you sell your time at wholesale to your employer, who then re-sells it at retail to the customer.” – J Paul Getty

Filed under Entrepreneurship, Tool Kit Tagged with be in business for yourself, be your own boss, billionaire, J Paul Getty quote, postaday, value your own time

Going To Work For A Large Company

January 11, 2013 Leave a comment

wealthymatters

“Going to work for a large company is like getting on a train. Are you going sixty miles an hour or is the train going sixty miles an hour and you’re just sitting still?”-JP Getty

Filed under Entrepreneurship, Tool Kit Tagged with jobby job, jobbyjobing, JP Getty Quote, postaday, working for a company

The Four Types Of People

January 11, 2013 9 Comments

wealthymatters J. Paul Getty categorized people into one of four general categories, as follows:

Firstly, there are those who work best when they are working for themselves. They don’t want to be employed by anyone. They want complete independence. They don’t care for “job security”. Instead, they want to create their own security. They want to control their own future. In short, they want to be their own bosses, and take the associated responsibilities and risks, as well as the rewards of their running their own show.
Secondly, there are those who, for whatever reason, don’t want to go into business for themselves, but work best when they are employed by others and share in the profits of the business. In this category you’ll find the top-flight salespeople, who like to earn a commission for everything they sell. Read more of this post