RE: Just Keep Swimming...Starting to see Real Growth!
Congrats on the growth. I hope everyone who is new (or maybe not so new but discouraged) understand this could be you. Or viking-ventures. Wow, what a story there, all with no out of pocket investment.
I invested some myself, as I was impatient and could see the math despite the slow start. In my first six months here, I was at 255.807 Steem and I had bought 153.561 of that. Six months later, I had bought a little more for my total Steem bought being 288.611. The amazing part is my Steem power had grown to an amazing 1,467.114. In the month since then I have had a phenomenal growth of 290 more Steem power.
I would urge all of you new to this to invest if you can. The stronger your SP, the quicker your growth. But if you can't and take the road that viking-ventures has, remember. IT IS DOABLE. I don't want to hijack the post with fancy math here (plus, it will be future post for me) but compounding interest, compounding stake weighted voting curation rewards, building solid relationships with the right people, it accelerates quicker than you can imagine at the beginning when everything seems to grow so slowly.
Hope you get over the flu quickly. I look forward to reading your Dolphin post in the future. :)
It's hard for people to understand the math of it until you start to experience it. But the compounding effect is real and there aren't many places in the world that the average person can really experience the single most powerful wealth building tool which is compounding interest. It's used against the average person day in and day out with credit cards, car loans, mortgages, and student loans. But most don't see the positive effects of what compound interest can do when put to work for them instead of the effects of it when it's used against them.
I might be one of the few people that live where I do who doesn't have an auto loan or a single credit card I watch neighbors struggle with money yet they earn twice what our household does. Why? Simple they "buy" a new car every couple years, upgrade their cell phones yearly to the newest and greatest on a payment plan naturally, and buy all sorts of other things they don't need to keep up appearances. They break out their credit card for every purchase and don't ever realize they are giving away their futures to the bank.
Anyways clearly I have some feelings on the subject.
edit: Here is a post I wrote back in early 2018, which is also an example of how little I made back then. 12 upvotes for 74c and steem was worth a LOT more back them so that might be equal to a 7c payout now. Anyways the post was about changing my habit of buying new cars and the effect on our household. It's a good read IMO and if I reposted it today I bet it would earn no less then $3 in upvotes which would have been like a $30 post back then....shows how building relationships and putting in the work over time can pay off.
It’s rare to know people who feel the same about finances at I do. The opinion that consumer debt is bad. It’s going to ruin a lot of lives and maybe our country.
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I'm a finance person by trade. Was a CFO and took a company public before most get out of college, then moved to the investment management side and managed people's money. Stopped all of that to focus on my family while the kids are younger knowing that there is always more time to make money. Of all the people that I helped with their retirement plans and estate management planning never once did one tell me that they wished they had worked more when their kids were young. Yes more then a few said they had invested better when they were younger, but no person over 70 looked back on their life and told me they wasted their life by taking time with their kids....but plenty told me their biggest regret was not spending time with their kids.
Seriously the song "Cat's in the Cradle" really rings true for most people as they get older. I don't want to be that person later in life.
So anyways, back to the point. Consumer debt is our Countries largest enemy. We allow the banks into every single aspect of our lives without giving a single thought. Even those who think they are being good stewards of their money still grow the banks and the ultra rich by using debit cards. Each time you swipe a debit card a bank gets paid by the merchant. That is the banks skimming away profits from those who earned it.
I absolutely HATE banks. They are a scam designed to give a false sense of security at the tax payers expense so rich people can make a lot of money with almost no real risk. Now with derivatives back in full swing banks don't even hold risk to the loans they write...all those nasty habits that cashed the last crash are in full swing again. Worse the Fed has no weapons to stimulate the economy again when the shit hits the fan this time. Their balance sheet is still massive and they can't even get interest rates to 50% of normal without already slowing the economy. reversing and going back to zero from the little they have raised isn't enough to head off any real recession. It will literally take government rebates and massive ones to jump start the economy again. But that proved to have limited effect last time as people had SO much debt most just went to paying off the banks...oh wait we are back to those greedy sob's.
It's a nasty cycle and in my family I hope it has ended with me. I'm teaching my kids about how to use debt for leverage and necessity, not for convenience or pleasure.