Category Archives: Interesting Articles

Interesting Mindsets of the Wealthy

It’s no secret that I do a lot of reading in order to write the articles I bring you every week. I’m not any sort of financial professional or money genius. Heck, I’m nervous to do investments. So, I depend on the knowledge of other people in order to learn about all of the things I bring you here. Today was no exception; I was looking through my normal websites and I came across this article while I was reading through stuff today.

Wealth is something that a lot of people in the United States strive for; at the same time, many others are just trying to get by. I’m a sociologist at heart, and you always have to wonder how much psychology plays into financial success; considering that most of our financial system is based on psychology, it’s no wonder that we it likely does.

Did you read the article? There were a few things that stood out to me that I thought were worthy of mentioning here.

Average people believe you need money to make money. Rich people use other people’s money.” This is something I found interesting. How in the world do you achieve this? I understand loans and such, but sometimes people don’t have the wiggle room to do those sorts of things. And of course, that leads to my next question for the author…

When is the right time to risk? See, my worry with all of the statements about risk is that people in the middle class don’t have room to take risks. I know I don’t. When you already have money, you can take risks. I guess I see that as common sense, but maybe I’m wrong.

Average people let money stress them out. Rich people find peace of mind in wealth.” This made me cringe inside. Even though it wasn’t likely the intention, it makes it sound like money brings happiness. I know plenty of people who are “well-off” but don’t necessarily have peace of mind. There are a variety of other things that bring peace of mind; wealth can play into it, because then you don’t have to fret as much, but it can’t be the only thing or we end up miserable.

Several of these are mindsets that I, and people I know, have. And I’m certainly not rich. I know that the market is driven by emotion, I know that having money can help me stay healthy because I can afford the health care that I need. Maybe I’m above average? But being above average doesn’t put money in my pocket.

What do you think? Do you think that people in the middle and lower classes are trapped in the mindsets described in the article and that that is what is keeping them from becoming more wealthy? Or do you think that it’s a true lack of resources that prevents all of us from getting a little chunk of the wealth? Share some thoughts in the comments, have a great week, and we’ll see you back here next week!

Homeless Guy on Roller Skates Inspires a New Name Brand

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There was an article that made it to the front page of yahoo that linked to an article on The Wall Street Journal about a homeless man, John Wesley Jermyn, who is often seen either on roller skates or dancing, inspired a new brand name of clothing line called “The Crazy Robertson”. If you have 98 dollars to dash out, you could have one of his graphic hoodies.

What caught my eye was that he now also have an agent and a manager, to manage his profits of his clothing line. At this point I’m thinking wow, a manager and an agent, I guess he suddenly made it pretty big and has a pretty nice stack of money in some bank account somewhere but thats far from the truth. Although its not much money, Mr. Jermyn has specific ways he wants to be paid. Interestingly, he doesn’t want any cash or anything that is of any value, at least our definition of value. All he wants is food, liquor and some paper for his art projects.

“But so far he has refused to accept much cash, preferring to be paid in food, liquor and paper for his art projects, according to Teddy Hirsh, one of the label’s founders.”

In order words, he only wants what of any value to his life, which happens to be food, liquor and art projects. Not a new Ipod, or a computer, or some expensive unnecessary gadget from Best Buy. He basically lives his life according to his own lifestyle that he is used to and doesn’t like to involve any money in his daily life and therefore does not depend on society for anything. I like this article because I like that he values his life style and won’t change even if he had money. It is evidence that show it is possible to live without all the extra stuff we have and long for.

Mr Jerymn and I live on the same planet but apparently two completely different lives. So much of our daily lives involves monetary issues and we strive to perfect our social order, but sometimes I wish I was in an environment somewhat similar to Mr. Jerymn’s shoes, or roller skates rather and skate along freely. When we see Mr. Jerymn, we see him as being trapped and being extremely limited. But in a way, it’s quite the opposite, we’re the only ones who deal with all these problems we deal with money. It’s a interesting concept but really, money is the only thing that limits us and clearly, because Mr. Jerymn does not reply on money, he is free and unlimited.

Keep on dancing Mr. Jerymn, you rock!