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Wealth Guide The Power Moves 1 Wealth Guide The Power Moves 2 ++Copyright++ © 2

Wealth Guide The Power Moves 1 Wealth Guide The Power Moves 2 ++Copyright++ © 2018 The Power Moves. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, mechanical or electronic, including photocopying and recording, or by any information storage and retrieval systems, without permission in writing from the author or publisher (except by a reviewer, who may quote brief passages and/or show brief video clips in a review). Disclaimer: The advice and strategies contained herein may not be suitable for every situation. This work is sold with the understanding that the author is not engaged in rendering legal, accounting, or other professional services. The author shall not be liable for damages arising here from. The fact that an organization or website is referred to in this work as a citation or a potential source of further information does not mean that the author endorses the information that the organization or website may provide or recommendations it may make. Further, readers should be aware that internet websites listed in this work may have changed or disappeared between when this work was written and when it is read. Wealth Guide The Power Moves 3 CONTENTS ++Copyright++ ............................................................................................................................................ 2 Introduction & Literature Overview .......................................................................................... 4 Types of Rich ..................................................................................................................................... 6 Basic Knowledge ................................................................................................................................. 7 1. Compound Interest ................................................................................................................... 7 2. Stock Market Is Safe… Is It? ............................................................................................... 8 Asset VS Liability ............................................................................................................................ 8 2. Basic Tenets of Wealth ............................................................................................................. 11 3. Traits of Millionaires .................................................................................................................. 13 4. Traits of Poor People ................................................................................................................. 17 5. Saving................................................................................................................................................. 21 6. Earning............................................................................................................................................... 23 7. Employee or Founder? ............................................................................................................... 25 8. Getting Off Debt ............................................................................................................................ 28 9. Investing & Market Knowledge ............................................................................................ 30 10. Children Education ................................................................................................................... 36 11. An Alternative View of Wealth ........................................................................................... 37 RESOURCES ......................................................................................................................................... 40 Wealth Guide The Power Moves 4 INTRODUCTION In all my ebooks I give an introduction and “state of the literature” overview. It tells you how good the literature is, what are my credentials to comment on it and what are my personal biases. MY BACKGROUND I started investing in the stock market in my early 20s and in that period I have read a lot about financial markets, technical analysis and the psychology of investing. I gained a relatively good understanding of financial markets, but was still lacking a comprehensive overview of economics and finance though. So when the time came to write my master thesis I used it as the perfect opportunity to marry my drive to understand economics with my studies –and other passion- of human brain, psychology and sociology. My master thesis was a look, from a psychological standpoint, to the 2006 financial crisis and its causes. That gave me the opportunity to read a few more books on “basics” and, overall, it gave me a much, much better understanding of finance and economics. When it comes to making money online I used to do dropshipping during my studies, which means scouring products in the Chinese market and then reselling them in the west on Ebay. It worked relatively well but I never tried to scale it: I was able to pay my rent and a little bit more and was more than happy with those results. My last job, where I stayed for a couple of years, was in fintech startup. We were lending to companies against its receivables, a practice going by the name of “factoring” I was in sales of course, but since it was a small venture, I was very close to the finance guys and I learned a bit more about fundamental analysis and key business metrics –and I also learned how easy it is to engage in insider trading when you have access to early news and updated companies’ financials-. Since I was rather senior I also had a (very modicum) amount of shares, which also helped me understand the issues and intricacies of ownership, evaluation and raising money. Wealth Guide The Power Moves 5 And now we get to today and my experiencing of launching online businesses from scratch. Today I run a growingly popular website and its revenues have long outstripped the expenses –which are rather low anyway-. My financial goal in 2019 is to make it a source of income which is comparable to my last job. It’s a bigg-ish goal, but I think it’s achievable. With ThePowerMoves I learned SEO, deepened my tech knowledge and, albeit I still suck a lot there, a bit of online marketing –my focus has been more on quality rather than marketing and I will keep it that way-. Last Note: by bootstrapping I also learned a lot on money savings and how easy it is to live with very little expenditures. STATE OF THE LITERATURE With that preface in mind, I personally found most personal finance literature to be geared towards beginners. If you’re not overspending, if you’re aware of compound interest and if you know the very basics of safe market investment, you will gain little from the most popular titles (and websites) in the personal finance space. Now you might be wondering: why the hell are you selling an e-book on wealth if you don’t think the underlying books are good? To begin with, as I mentioned, my focus is on quality, not marketing. And to deliver I need to be honest to deliver the best product I can deliver. Second, I will still likely deliver more value to you than you would have gotten by buying any single personal finance full book. Third, I will deliver that value while saving you both time and money. I believe you can indeed consider this e-book the only book you’ll need when it comes to basic personal finance. Fourth, you will get an honest look on “make money online courses” from someone who’s actually walking that path and who is not selling you a “get rich” product but simply a providing you a critical analysis of the existing literature. Now, if on the other hand you are not aware of basics finance yet, then the personal finance literature does have the potential of being life changing. Wealth Guide The Power Moves 6 THE TWO TYPES OF GET RICH APPROACHES The literature is split among two different types of rich they encourage you to be: 1. The frugal employee who saves and invests I will call this the frugal way. To get rich with the frugal way, you need time. But many do become millionaires even with average income. Studies show many millionaires have salaries of 80k or less. 2. The entrepreneur who risks and builds businesses I will call this the hustler way. And there is a third type of literature: 3. Analysis and researches of the traits of rich people This third approach is more data-centric and shows you how people who got rich think and behave. In a way, we could probably also put biographies of rich people in this category. As usual, I will present you will all three. But keep in mind that 1 and 2 are very different from each other. None is “better” than the other but require different personalities and lifestyles. A Note on Tony Robbins Quotations I will sometimes quote Tony Robbins here. He’s a motivational speaker and at the beginning of his career I wasn’t impressed by his financial wisdom. But things changed when he wrote Unshakable and Money Master the Game. He did his research and interviewed some of the very best in the financial industry for those. So every time you see his name, consider him a conduit of knowledge from much more experienced guys and a rather creditable source here. A Note On Cand Do It Attitude Virtually all authors agree that anyone can overcome debt and become rich. And most authors agree it’s mostly a mental shift which precedes, and which is more important, than the actual practical steps. Wealth Guide The Power Moves 7 BASIC KNOWLEDGE This first chapter deals with some of the very basics tenets that form the backbone of much of the personal financial literature. 1. Compound Interest Virtually all proponents of the frugal road to riches recommend you invest your savings and use the compound interest to make a relatively small sum of money balloon over time. You may be heard some crazy examples of compound interest rate. If not, here’s an example of the typical compound interest pitch: If you invest 5.000 per year every year for 40 years at an 8% interest rate, you end up with 1.6 million. And that’s something everyone can do, say the proponents of the compound interest. Indeed, you could do that. Criticism of Compound Interest Compound interest is a mathematic property, so per se it cannot be criticized because it’s simply true. But some critics voice disagreement on the idea that compound interest will undoubtly make you rich and/or that it’s the best way to get rich. The critics say that the apologists uploads/Finance/ wealth-guide.pdf