Murphy's Laws
Every now and again I run into logic so sound and simple that I can find nary a flaw with it. Usually, it is nothing new or revolutionary but often forgotten or ignored wisdom hidden in plain sight. More often than not a source is someone like Hayek, von Mises or any other rational thinker we have chosen to ignore over time. A great example I ran into recently is the following set of principles from Robert P. Murphy.
Murphy I feel funny telling you what to do with your life, but since I'm bald you know I'm older and that I worry a lot.
So without getting into a lot of poetic wax, here's Murphy's brief list which you can dissect on your own. I would especially recommend it to those struck with the misfortune of recently having been laid off, not invited back for a FT gig after SA or still struggling to break into the industry.
Remember folks, it is a marathon out there, not a sprint. Keep your breathing steady and your fear under wraps. All goals sought await the patient and persistent.
Murphy's Laws
1) Save More
I love the bars, the clubs and all that jiggle which inhabits them, but you don't have to be a statistician or a mathematician to know...a six pack at home is two beers at the club and a full stomach curbs the loud mouth. Plus, Biggie said "that nickles go for twenty down south..."
2) Develop Multiple Streams of Income
Easiest to say, toughest to do. Though this is a primarily banking oriented forum, you'd be amazed how much cash you scrounge out on the side by offering your acquired skills on a small business consulting basis on the side. As to the myriad of alternative options, rack your brain...or end up like Spain.
3) Sell Your TVs
Those who say that there is no guaranteed way to increase one's intelligence, have
certainly not made this choice.
4) Build Up At Least a Month's Worth of Expenses in Cash
Or find a sugar momma/poppa...
5) Tithe or Give To Charity
6) Eliminate Variable-Rate Debt as Quickly as Possible
Credit card interest rates=juice, vig or whatever shylocking term you prefer.
7) Acquire Some Physical Gold and Silver Coins
Especially the ones with the chocolate insides, they'll shelter you throughout the storm.
This certainly sounds like a lecture you would give, Midas.
Got every point covered except 5, something's wrong with the link.
Has anyone on here actually done this? I'd love to hear some success stories. With the long/highly variable hours, it would be interesting to know how you made it work.
I guess another option would be to buy a small business as a passive investment. Anybody?
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