Wirespeed Wealth

 They Are Necessary To Be Wealthy

How many times have you purchased a book with the intention of reading it soon after you’ve bought it, but let it sit for a time before actually reading it?  Well, if you’re like me, you have probably done that more than once.

I’m currently reading a book, which I bought several months ago.  It is called “The Rules of Money.”  The title caught my attention, so I bought the book.  After reading the introduction and the first few rules, they reinforced what I believe is necessary for creating and building financial wealth.  That is, you must understand what money is, and you must understand how it is acquired and accumulated.  The “how” is the plan.  But, to execute your plan you must first have set rules in place to guide and discipline your plan to its completion.

Before discussing a single rule, in the introduction to section one of his book, Richard Templer acquaints the reader with what money is.  Have you ever considered what money really is?  Is it the currency in your wallet or purse?

Tags: roi

“A penny saved is a penny earned.”  It has been noted that Benjamin Franklin coined this famous phrase (pardon the pun).  I think it is safe to say that in today's economic climate not much thought is given to the measly penny.  But, does valuing a penny influences how one thinks about money?

These days most everyone is thinking in terms of mass quantities of dollars, and with good reason!  Seeing the need to go against the tide, I thought I would take a moment to consider the penny.  The penny is the smallest tangible amount of coinage in the U.S. Treasury.  It is named after the British penny, and is made of copper plated zinc.  The penny, which was designed by Benjamin Franklin, was first minted in 1787.  In 1909, on the one hundredth birthday of President Abraham Lincoln, the first Lincoln head penny was issued.  This marked the first time the image of a President was minted on a coin.  There is currently 1.5 billion dollars in Lincoln pennies in circulation today (source: Enchanted Learning).

It has been said that a penny contains enough copper to equal twice its face value.  This means that if you had 2 million dollars in pennies you would also have about 4 million dollars worth of copper.  Let this not be a reason to start hoarding pennies the way some hoard gold.  It is just food for thought when considering the real value of a penny, which is the motive behind this article.

How is it that I can, of all the things, take into consideration something as small as a penny, and at such a financially volatile time?  Why the penny?  Shouldn't I be thinking about my 401K, which incidentally has lost more than $30,000 in the last two months?  Why take the time to consider something so small and insignificant as a penny?

Tags: creating wealth | goals

Today we achieved the first of several minor goals at Wirespeed Wealth. In an effort to be discovered by many interested readers we listed our blog on the popular search engine, Technorati. Our listing can be viewed here. Why is this significant? This is significant because one of the tasks of listing a blog is the task of providing a brief description of it. Our description states, “It is the goal of Wirespeedwealth.com to develop and share with it's readers and members ways and means of creating wealth on and off of the Internet.” Since this description is not visible to you on Technorati, we thought it would interest you to read it here.

Tags: creative | creativity | wealth

In today's increasingly chilling economic climate of financial crisis and mayhem, one is compelled to pose the obvious question.  Where has all the wealth gone?  But before this question can be properly answered we must ask ourselves another question.   What is wealth?  What do I consider wealth to be?

As we see from the flurry of economic activity over the past several weeks, the financial sector defines wealth as capital (money), and when the flow of capital slows to a trickle wealth seemingly begins to dissipate.  The value of stocks, real property, currency and especially "paper wealth" decreases with dramatic fervor.  What causes this?  Can wealth be defined in terms of money alone, or in terms of the abundance of one's possessions or in the utility of one's real property alone?  Yes, "financial" wealth is defined in terms of money, stocks, real estate and all commodities of value, but wealth is much much more than that.