💲 Your Money Making Money! 💰 Sound Good?
What is the "eighth wonder of the world?" How can @roleerob tie that in to BRO tokens and The Man Cave community? "Come on in" and let's find out!
Quite a statement! Right?
Before getting into how I've applied it to the The Man Cave community and its new BRO token, let's look into this statement just a bit.
Compound Interest
Endless volumes have been written on this topic. I make no pretense to having something special to add to them. I'll just offer some hard life experience to reinforce what it has to offer us.
Oh, and what is that @roleerob?
Later never shows up!
Procrastination is destructive!
Procrastination is
A light-hearted statement I've heard a number of times over the years is - "Never do today what you can put off until tomorrow!" 😉
While we can all get a smile out of this, why is that? For the vast majority of us, it hits a little too close to home for comfort. It is just human nature to put off what we do not wish to do. If not just "blow it off" altogether. How does that inevitably work out for us?
Compound interest requires the discipline of overriding these tendencies and putting time to work for you, rather than against you. Time applied to your money!
Oh, well, first you have to have some money! 😏 How do you go about that? Well here is one way not to have any money:
Never wait to buy
with savings tomorrow
what you can buy
on credit today!
with savings tomorrow
what you can buy
on
The "siren song of the world" is constantly blaring messages at us relentlessly promoting instant gratification of whatever urge we've got! Resulting in far too many of us ending up as good "debt slaves," with ever dimmer prospects of someday being free.
Denying those urges and saving your money requires that nasty "D" word again - discipline! If you ever choose to acquire it, you are giving yourself a gift you will thank your older self for in your latter years!
"Delay, Don't Deny" was the title of a recent post I wrote, with a focus on eating. Here we are seeing it applied to money. On the surface, they are different applications, but at their philosophical core, they are addressing the same basic problem with human nature.
So ... Let's see how we can apply this to The Man Cave community and its new BRO token!
Reinvesting BRO Token "Dividends"
The ancient form of the power of compound interest has always applied to our money. Held in savings. On which interest is paid, typically by a bank or similar lending institution. Who turn around and lend your funds out at a higher interest rate. To those who seek instant gratification (see above)!
But ... In this era of ZIRP (Zero interest-rate policy)? Or, if you can bend your mind around it, NIRP (Negative interest-rate policy)?! Yeah, well, dear reader, in our crazy "new normal" world with policies like these, compound interest loses a bit of its uhhh - "magic" ...
Moving right along to reinvesting dividends ...
Reinvesting dividends is also a very old investing concept. Rather than interest paid on money, shareholders in an enterprise receive additional portions of stock back. A different form of interest, it is paid to you for the benefit the enterprise gains from putting your funds to work for them. In brokerage firms, a common option is to "auto" reinvest these funds back into the stock.
In both cases above,
"new" money earned by the
"original" money is now
itself making money!
"new" money earned by the
"original" money is now
Your money itself making money! Put the power of this concept to work for you and it will have a profound impact on your financial trajectory through life. The sooner the better!
Sounds great @roleerob. Sign me up! Does The Man Cave community and its new BRO token have an "auto" reinvest dividend option?
Yeah, well, it's a pretty special community, but ... Nope, not yet! 😉 We have to take care of that ourselves. The beautiful part? Our "dividends" are paid daily! No need to delay here at all!
Getting right to the focal point of this post then, in my first week as a BRO token holder, this is what I have received back in the way of "dividends:"
And today, here is what I did with them, rounding up:
Now, is 7 BRO tokens going to profoundly change my financial trajectory through life? No, not today. Not tomorrow. Not next week. Not next month ... But I now have 7 additional tokens which will generate their own "dividends" - my money making money!
If I stay focused and deem this the best use of these new discretionary funds, what about reinvesting them on a weekly basis? What would that look like in 1 year? 5 years? 10 years?
That, my dear reader, is the power of making sure you never lose sight of opportunities for your money to make money!
- Caveat #1: Note these results are for one week. Based on curation rewards which have only one guarantee. They will vary!
- Caveat #2: I am not an accountant and did not have time to track down a compound interest calculator and wrestle with how to get BRO tokens "meshed" into its limitations.
So ...
True confessions: As good as these results look, they actually do not even show the power of compounding, but just "simple interest." - Caveat #3: I am not a financial / investment advisor. Please do your own research and perform your own due diligence. I highly recommend that you not invest more than you are prepared to lose.
I would encourage you to give careful thought to this wonderful concept, if you have never had reason to before now. It has nothing to do with the amounts of money to which you apply it. With whatever limited funds you have available to you, the key is to just get started!
Closing
Many of us spend most of our lives exchanging our valuable time and effort for money. If we aren't "moving," the flow of money stops. Applying what we have covered briefly in this post will begin the process of changing that!
Equally true is many of us let the opportunity to do so pass us by, due to the unwillingness to address the discipline needed. Hopefully this post has given you some inspiration and encouragement to change that as well!
I’d love to hear any feedback you may be inspired to provide.
Until "next time," all the best to you for a better tomorrow, as we all work together to build up our Hive Communities and add increasing value to our Hive blockchain! 👍 😊
Respectfully,
Hive Blogger & Man Cave "Lieutenant" @roleerob
🐝 🍯 🐝
🌲 No trees were harmed in the publishing of this post! 🌲
Interested in reading more of my related posts?
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The Man Cave: A Hive community "for men to retreat to their cave and do manly stuff"!
Discord: Engage with The Man Cave's "band of brothers"!
Check it out!
LeoFinance: A Hive blockchain community devoted to investing!
Discord: Engage with LeoFinance's Online Community!
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That last chart you put up, that's some very impressive math!
One thing I wanted to know, in making that calculation, did you take into consideration that the dividends will keep on reducing significantly as more people buy in and the next batches released, at least momentarily until the the brofund adds more HP?
In answer to your question @simplifylife ...
... yes and no. Yes, in that I list 3 caveats right under that table. The first addressing, in general, what you are asking. Detail this specific? No. Now, for those of my readers who decide to check into this post and read the comments, they will have it. Thank you.
Anyone familiar with the "magic" of compound interest has seen many similar examples of the math. At first glance, it can be too quickly dismissed as "too good to be true." Not so
My personal favorite examples go far beyond what I show here and address providing for ourselves in our old age. By specifically demonstrating what is possible over the course of a normal career (+40 years vs. 10?), if our young people get started on this "journey" right away, in their young adult lives.
If people can get past the disciplines required to put it to work for their own welfare, the results can and should be, life changing.
Thanks for stopping by!
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I did think about this.
And the solution for this is simple: add more Hive into the @brofund account. Then power it up. Say 300k HP changes to 500k.
This way existing and new BRO coin holders can enjoy the dividends.
Hmm yes, that's what Ray has been doing. Powering up 90-95 HIVE everday. In the long term, this will add up to a very substantial amount.
I'm quite excited to see how the tribe curations come in! I expect large amounts of neoxag will be coming in.
What is a tribe curation?
Brofund has very formidable stakes of Neoxag, Leo and Pal and Ray has 3 curators for the three tribes. So, similar to hive, these also has curation returns and will be paid out as dividents to BRO holders.
Great post and someone who obviously gets it. I wish there were more on Hive who understood some of the basics you discussed in this article.
It is a rather simple premise: none of this is get rich quick but does offer the opportunity for outsized returns. We all know Buffett made tens of billions compounding at 20% annually over 50 years. With what is taking place in crypto, since we are not dealing with scarcity, the returns can be much greater.
SPI did over 80% in its first year without taking into account token appreciation. That is only the value increase of the holdings behind the token.
The token is well up over that.
And that is just one example.
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Yes, agreed @taskmaster4450le. You and I both have enough life experience, however, that we know "simple" and "easy" are not the same words. It is remarkable and a sad commentary really, on how few people ever "take on" the challenge of getting to where they ever begin to experience what I am talking about in this post ...
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Yes they are two completely different terms. What is simple is often not easy.
We are seeing a lot of activity that is going to reward those who are aware of what is taking place. It is exciting even if most do not see it.
From my interaction, those few who gain the insight is very uplifting and provides a great deal of hope.
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That's a wonderful article. The quotes you have mentioned are also perfect.
I did that mistake and ended up in lots of debts. I'm still trying hard to clear those debts. It would take 3 more years for me to become debt-free. That was a huge mistake. But it was indeed great learning I would say.
I'm not sure if you have watched this TV commercial. This shows the ultimate power of compounding.
Yes @bala41288 ...
... as have I and, I would imagine, most of us on the face of the earth! 😉 Sad really, but one of the realities of life in this world, is that we all too often fall into these "pits" laid for us, in our journey through it …
What really separates "the men from the boys" (BRO talk ... 😉), is not whether we make mistakes or not. But ... Whether we learn from them! And then remain resolute to not repeat them ever again. No matter how great the temptation ...
There is no question the best lessons in my life have been those for which I have “paid” most dearly ...
Have a great day, in your part of the world. And thank you very kindly for this link and adding value to this post!
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Yep, I completely agree. These exact words I say to myself these days to prevent myself from not making the same mistake again. Thanks for the wise words. Cheers! !BEER
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BEER.Dear @roleerob, I always read your great article.
By the way, my English is low, so it's hard to understand your work! thank you!
Good evening @silvergrifin007! These latest posts are about my exploration of new communities here on our Hive blockchain. And the tokens they issue, which anyone can purchase. In my case, I am particularly interested in BRO tokens, associated with The Man Cave community. And LEO tokens, associated with the investors community.
This post is about the "magic" of compound interest. And applying those concepts and principles to the BRO token.
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