๐ฒ Your Money Making Money! ๐ฐ Sound Good?
What is the "eighth wonder of the world?" How can @roleerob tie that in to BRO tokens and The Man Cave community? "Come on in" and let's find out!
Source: Seeking Alpha post on "The Miracle Of Compounding: Are You Taking Advantage?"
Quite a statement! Right?
Before getting into how I've applied it to the The Man Cave community and its new BRO token, let's look into this statement just a bit.
Compound Interest
Endless volumes have been written on this topic. I make no pretense to having something special to add to them. I'll just offer some hard life experience to reinforce what it has to offer us.
Oh, and what is that @roleerob?
Later never shows up!
Procrastination is
destructive!
Later never shows up!
Procrastination is
A light-hearted statement I've heard a number of times over the years is - "Never do today what you can put off until tomorrow!" ๐
While we can all get a smile out of this, why is that? For the vast majority of us, it hits a little too close to home for comfort. It is just human nature to put off what we do not wish to do. If not just "blow it off" altogether. How does that inevitably work out for us?
Compound interest requires the discipline of overriding these tendencies and putting time to work for you, rather than against you. Time applied to your money!
Oh, well, first you have to have some money! ๐ How do you go about that? Well here is one way *not to have any money:
Never wait to buy
with savings tomorrow
what you can buy
on
credit today!
Never wait to buy
with savings tomorrow
what you can buy
on
The "siren song of the world" is constantly blaring messages at us relentlessly promoting instant gratification of whatever urge we've got! Resulting in far too many of us ending up as good "debt slaves," with ever dimmer prospects of someday being free.
Denying those urges and saving your money requires that nasty "D" word again - discipline! If you ever choose to acquire it, you are giving yourself a gift you will thank your older self for in your latter years!
"Delay, Don't Deny" was the title of a recent post I wrote, with a focus on eating. Here we are seeing it applied to money. On the surface, they are different applications, but at their philosophical core, they are addressing the same basic problem with human nature.
So ... Let's see how we can apply this to The Man Cave community and its new BRO token!
Reinvesting BRO Token "Dividends"
The ancient form of the power of compound interest has always applied to our money. Held in savings. On which interest is paid, typically by a bank or similar lending institution. Who turn around and lend your funds out at a higher interest rate. To those who seek *instant gratification (see above)!
But ... In this era of ZIRP (Zero interest-rate policy)? Or, if you can bend your mind around it, NIRP (Negative interest-rate policy)?! Yeah, well, dear reader, in our crazy "new normal" world with policies like these, compound interest loses a bit of its uhhh - "magic" ...
Moving right along to reinvesting dividends ...
Reinvesting dividends is also a very old investing concept. Rather than interest paid on money, shareholders in an enterprise receive additional portions of stock back. A different form of interest, it is paid to you for the benefit the enterprise gains from putting your funds to work for them. In brokerage firms, a common option is to "auto" reinvest these funds back into the stock.
In both cases above,
"new" money earned by the
"original" money is now
itself making money!
In both cases above,
"new" money earned by the
"original" money is now
Your money itself making money! Put the power of this concept to work for you and it will have a profound impact on your financial trajectory through life. The sooner the better!
Sounds great @roleerob. Sign me up! Does The Man Cave community and its new BRO token have an "auto" reinvest dividend option?
Yeah, well, it's a pretty special community, but ... Nope, not yet! ๐ We have to take care of that ourselves. The beautiful part? Our "dividends" are paid daily! No need to delay here at all!
Getting right to the focal point of this post then, in my first week as a BRO token holder, this is what I have received back in the way of "dividends:"
Source: @roleerob's BRO token accounting spreadsheet.
And today, here is what I did with them, rounding up:
Now, is 7 BRO tokens going to profoundly change my financial trajectory through life? No, not today. Not tomorrow. Not next week. Not next month ... But I now have 7 additional tokens which will generate their own "dividends" - my money making money!
If I stay focused and deem this the best use of these new discretionary funds, what about reinvesting them on a weekly basis? What would that look like in 1 year? 5 years? 10 years?
That, my dear reader, is the power of making sure you never lose sight of opportunities for your money to make money!
- Caveat #1: Note these results are for one week. Based on curation rewards which have only one guarantee. They will vary!
- Caveat #2: I am not an accountant and did not have time to track down a compound interest calculator and wrestle with how to get BRO tokens "meshed" into its limitations.
So ...
True confessions: As good as these results look, they actually do not even show the power of compounding, but just "simple interest." - Caveat #3: I am not a financial / investment advisor. Please do your own research and perform your own due diligence. I highly recommend that you not invest more than you are prepared to lose.
I would encourage you to give careful thought to this wonderful concept, if you have never had reason to before now. It has nothing to do with the amounts of money to which you apply it. With whatever limited funds you have available to you, the key is to just get started!
Closing
Many of us spend most of our lives exchanging our valuable time and effort for money. If we aren't "moving," the flow of money stops. Applying what we have covered briefly in this post will begin the process of changing that!
Equally true is many of us let the opportunity to do so pass us by, due to the unwillingness to address the discipline needed. Hopefully this post has given you some inspiration and encouragement to change that as well!
Iโd love to hear any feedback you may be inspired to provide.
Until "next time," all the best to you for a better tomorrow, as we all work together to build up our Hive Communities and add increasing value to our Hive blockchain! ๏ ๏
Respectfully, Hive Blogger & Man Cave "Lieutenant" @roleerob
๏ ๏ฏ ๏
๏ ๏ฏ ๏
Posted using LeoFinance and โimmutably enshrinedโ in the Hive blockchain on Thursday, 23 July 2020! ๐ฒ No trees were harmed in the publishing of this post! ๐ฒ
Interested in reading more of my related posts?
| Lead Image | Title, Link, & Summary |
|---|---|
| Land of Leo: My First LeoDex Transaction!?
With discretionary funds from powering down on the Steem blockchain, I decided to invest some of it into additional LEO tokens. This post covers my experience with attempting to do it on LeoDex. | |
| The Man Cave! New Hive Community and First BRO Tokens ... How does any "new chapter" in our life begin? Are there ever really any coincidences in our lives? In this post, you will read my story behind the discovery of The Man Cave, a relaunched community for "man stuff!" | |
| Yo! Got BRO? Oh no ... ๐ Go! ๐
Since my discovery of The Man Cave community, I had developed a steadily increasing appreciation for it. And had invested into it accordingly. This post was written to encourage others to seriously consider doing the same! |
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