Most people think of billionaires living out their lives extravagantly with the finest luxury clothes, homes, yachts, and cars. Jeff Bezos sure hasn't helped out their image with his extravagant spending over the last few years. The truth be told is most billionaires don't live that lifestyle. Look at Warren Buffet, he still lives in the same home he bought in 1958 for $31,500. Yesterday I read a story about another extremely rich woman who lives frugally among the middle class.
Mitzi Perdue is the heiress to not one, but two, family fortunes. Born into the Sheraton hotel family she was raised on hand me down clothes and in public schools. Although she did later attend Harvard, some perks of her wealth... She inherited part of her father's controlling stake in the company and could have lived out life in luxury. She then married "chicken king" Frank Perdue, whos also came from a frugal family. And although very wealthy lived a middle class lifestyle. After he died Mitzi had a fortune worth more than $22 billion. Yet she moved into a middle class apartment and kept a job as a journalist. She finds more joy in life helping others than worrying about herself or luxury.
The truth is most very wealthy people live very frugally and blend in with everyone else. There is a reason they stay wealthy, because they don't spend. They save. A lot can be learned from that lesson, those who save their money have more money. Invest wisely and don't drive expensive cars or live in mansions. Hopefully some of us will make it there someday as well!
Transitioning into my post for the day, it is Saturday and as always will be sharing a Saturday Savers update of my Hive Power, second layer investments, and some of my favorite investments, precious metals!
Hive Power
My goal this year was to achieve 10K HP, turns out that it really wasn't enough of challenge and I completed it months ago. I set a new one to reach 13,000 HP, and I currently have 11,619 HP. That up 96 HP on the week, which is down from my regular results. I have been investing some Hive in other projects this week, but I'm back to increasing my HP again. Doing the math, I will need 153 Hive powered up weekly to make it, hopefully I can still do it, but I may have to power up some extra Hive along the way to be safe!
HP 11,619 (89.4% complete) New Goal: 13,000 HP
PAKX
I started investing in this project sometime back and I have really been happy with the results so far. This is a great project where every PAKX is backed by two Hive, and as the project grows the amount of Hive backing each PAKX will be even higher. Holding some earns you daily Hive dividends depending on how much you hold and those who hold at least 25 have the ability to use the PAKX call to tip another Hive community member's quality posts.
It directly helps support the Hive Pakistan community to recruit and retain new talented authors here on Hive which is a very positive goal in my mind!
Goal: 100 Currently held: 110 (110% complete)
One more goal completed on the year's check list! I'm sure next year I'll be setting the goal ever higher on this one!
AEGIS
Recently @enginewitty announced a new personal project called AEGIS. Unlike other tokens he has created there are no dividends, curations, staking, or tipping. The way to earn rewards is to buy the tokens and put them in the AEGIS:SWAP.HIVE liquidity pool. Right now it's paying out around 75.6% APR, which is a great number. I bought 100 initially but have since purchased a few more here and there and plan to continue buying several a week to increase my share of the rewards pool. Every day I am getting AEGIS from the LP which I turn around and place back into the LP to earn more rewards. I'm far from being an AEGIS whale, but I will keep stacking them up little by little!
Here's my current Tribaldex screenshot showing the current rewards pool:
I have no fixed goal, but I think it's a great gamble! Thanks Witty!
Precious Metals
The precious metals have had a great year as the world's economy is looking unstable at best and national debts are becoming unsustainable. Not to mention constant wars and the threat of World War 3 still looming on the horizon. This past week we did see the first big correction in prices, which may be a buying opportunity before things heat up again.
Silver is sitting at $48.53 per Troy ounce. Here's the year to date chart from kitco.com:
And gold is sitting at $4,111 per Troy ounce. Here's the year to date chart from kitco.com
Not too bad a correction as you can see. It may be a great time to buy in!
I have been investing in silver since I was young, and it's one of the best things I've ever done. Not only does it build your personal wealth, but leaves a significant source of generational wealth that can be passed onto your children. Investing in precious metals is easy, start small. Buy a sliver coin once a week with some extra money and keep it stored safely. Over ten years you will be shocked at just how much you will amass if you stick with it.
Saving is very important, and it's never too late to start. You may never become a billionaire, but if you have enough to live on in your old age and have some to pass to your children, I call that a win! That will do it for this #saturdaysavers post, I hope you enjoyed it. Please feel free to leave any questions or comments below, and as always thank you for all of your support. Have a great weekend everyone!
References:
https://www.msn.com/en-us/money/news/the-heiress-of-10-billion-perdue-farms-and-the-12-billion-sheraton-hotels-empire-wore-hand-me-downs-still-rides-the-subway-and-flies-economy/ar-AA1P7KXr?uxmode=ruby&ocid=edgntpruby&pc=U531&cvid=68fbbb7ae2a34f04a35a67310761d5a2&ei=9
https://www.kitco.com/charts/gold
https://www.kitco.com/charts/silver
Disclaimer
I am not a financial planner and this isn't financial advice. Please always do your own research before investing your money. You worked hard enough to earn it!
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