Must See: Fantastic Educational Cartoon on the Economy

Must See: Fantastic Educational Cartoon on the Economy

After listening to a news report, my son asked me a question about the economy. It became clear to me that he needed to learn fundamental economic terms like “productivity growth,” “the short-term debt cycle,” and “gross domestic product.” But how could I give him a lesson in Economics 101 without boring him? Luckily, I found this great video. It’s a thirty-minute fantastic educational cartoon on how the economy works. I thought it was so well done that I had to share it with you. Believe it or not, it is really very entertaining!  It does a great job explaining basic economic principles and how the economic machine affects your pocketbook. Let me know what you think.   Douglas Goldstein, co-author of Rich As A King: How the Wisdom of Chess Can Make You A Grandmaster of Investing, is an avid chess player, international investment advisor, and Certified Financial Planner (CFP®). If you aren’t already signed up to receive our newest blogs by email, sign up... Click for more
How the Demographic Cycle Can Make You Rich (or Poor)

How the Demographic Cycle Can Make You Rich (or Poor)

The demographic cycle is one of the most important, yet often neglected, factors for predicting economic prosperity and performance. Demographics, statistical data related to the population and its various sectors, often reflect social changes that drive the economy. I discussed the connection between demographics and economics with economist Harry Dent, author of The Demographic Cliff: How to Survive and Prosper During the Great Deflation Ahead. He told me that in light of the extreme changes and advances in technology and standards of living in the past half-century, demographics are even more important to economic forecasting than ever before. According to Mr. Dent, demographics, “is the most important factor and it has even told us when inflation is going to rise and fall decades in advance.” For example, in the late 1980s, Mr. Dent predicted that the baby boom in the United States would keep driving up its economy until 2007. Everything is cyclical Economies often work in cycles. Currently western countries such as Europe, the United States, and Japan have an aging population; the “baby boomers” who were born when birth rates rose in these areas after World War II are now growing older. In countries with higher birth rates, such as India or Israel, the economy is different since there are a higher proportion of young working people. But what will happen in the future when this population starts to age, too? Other cycles also affect the economy. Economists have recognized that apart from the demographic cycle, there is an innovation cycle of 45 years, a geopolitical cycle every 36 years, and a boom-bust cycle of around 10... Click for more
How to Protect Your Identity – Rich As A King Episode 82

How to Protect Your Identity – Rich As A King Episode 82

What is identity theft? How can you prevent this modern type of technological crime happening to you? This financial podcast gives you a list of top tips to prevent online fraud and identity theft. To listen to this podcast, click here Or you can download the Rich As A King podcast from your favorite platforms: Itunes, Stitcher, TuneIn, and of course, our website.  This podcast is based on Rich As A King: How to Become a Grandmaster of Investing, by Douglas Goldstein, CFP® and Grandmaster Susan Polgar, www.RichAsAKing.com. If you aren’t already signed up to receive our newest blogs by email, sign up... Click for more
What Happened After My Conversation with Susan Polgar

What Happened After My Conversation with Susan Polgar

Some conversations are short and some are long. Some conversations end, while others linger. My conversation with Susan Polgar on the similarities between chess strategies and investing strategies never really ended. It led to the publication of our book Rich As A King: How the Wisdom of Chess Can Make You a Grandmaster of Investing It led to a blog. It led to a podcast that has gotten thousands and thousands of downloads! We just made it even easier for you to download and listen to our ideas when you’re on the go. You can listen to the podcast on four platforms:   Our blog   iTunes Stitcher TuneIn No more excuses not to listen to The Rich As A King Podcast and share it with your friends. Listen now, and let me know what you think. Better yet, let me know what topics you find most useful on the podcast and blog. I’ll talk about those more….   Douglas Goldstein, co-author of Rich As A King: How the Wisdom of Chess Can Make You A Grandmaster of Investing, is an avid chess player, international investment advisor, and Certified Financial Planner (CFP®).       If you aren’t already signed up to receive our newest blogs by email, sign up... Click for more
Why Popsicles and Success Are Good Partners

Why Popsicles and Success Are Good Partners

Inspirational stories are a great motivational tool. Here’s a story which changed my own life. It’s called “Experiments in Popsicle Time.” When was the last time you sat quietly? Recently I spoke with Trevor Blake, an amazing entrepreneur and best-selling author of the book Three Simple Steps. During our conversation he told stories of many super-successful people who start off their days with 20 minutes of just sitting quietly by themselves. I decided to try it, and wrote a note to remind myself. Every morning, I saw the note waiting for me on my desk. Every morning I also saw the long list of things I had to do that day. I was always too busy to sit and think, so I just continued with my daily routine, slowly forgetting about those 20 minutes…. Announcing a new definition of focus I also had the opportunity to speak with John Lee Dumas, a podcasting superstar who hosts a show called Entrepreneur on Fire. He defined the word “focus” with the acronym: Follow One Course Until Success. I liked that way of viewing the word, and focused on sharing this definition with my family and friends. Have an “A-Ha” Moment Every Day An “a-ha” moment is a moment in which you suddenly exclaim “A-ha! What a great idea!” Josh Waitzkin and Tim Ferriss discuss this concept in a podcast. Josh explains how he helps business owners and hedge fund managers have multiple a-ha moments every day and not just once in a lifetime. As soon as I finished listening to Josh talking about his “a-ha” moments, I realized that in order... Click for more
Not an April Fool’s Joke – Increase Your Financial Literacy

Not an April Fool’s Joke – Increase Your Financial Literacy

April is National Financial Literacy Month. How will you celebrate? By going on a shopping spree or by doubling your efforts to budget, save, and invest? The Senate recognized the importance of financial education and literacy in 2004, when it officially designated April as National Financial Literacy Month.  Events and activities promoting financial education are taking place all across America. We hope you take some time to increase you (and your family’s) financial literacy. Susan and I are also marking Financial Literacy Month with a Goodreads giveaway of Rich As A King. To enter the giveaway and win one of five signed copies of Rich As A King, click here. (Note the giveaway is only open to people residing in the United States. We apologize to our international readers.) After you enter the giveaway, take the next step to improving your financial literacy and click here to learn how to make good money decisions. If you aren’t already signed up to receive our newest blogs by email, sign up... Click for more