Ideas on How to Become Rich - Living with wealthy thoughts

Ideas on How to Become Rich - Living with wealthy thoughts

Hi, I have been away for sometime and here I am back again to write about ideas on how to become rich. 

Today I would like to share some insights into living with wealthy thoughts. 

This is because there is abundance of wealth in the universe for all of us to gather and use wisely.

I will show you the abundance of living a wealthy life with wealthy thoughts and abundant joy in harnessing of such riches from the universe.

There are lots of opportunities in this world for all of us to gather riches, treasures and material things. Many people who are poor do not undersrtand the mystery of this universe. The world has lots of resources both in the water around us and on the land surrounding us and on which we live.

From precious metals such as gold, silver, oil and minerals of sorts, there are treasures under the deep ocean and in the land beneath our feet. I want to share my brother-in-law journey from rags to riches because he was able to understand the wealthy thoughts of harnessing the resources of the land.

15 years ago, when people do not really bother about the investment in mining minerals in the desert of Australia, he actually went into this venture. Of course lots of people looked at him, thinking he was mad. Yes, he was mad to think that one of these days some of these unwanted minerals or resources could become so precious. Materials such as uranium, bauxite etc.. have today become lucrative for many kinds of industries - mainly mlitary and economic.

So instead of getting angry with the circumstances, my brother-in-law used all his savings and invested wisely in such ventures. Patience paid off because today he is jet-setting from country to country , enjoying life with his family.

The first step to living well is to live with wealthy thoughts. This is what my in-law did. So what is wealthy thought? It is the willingness to believe that you are worthy of greater wealth than you have today. You are worthy of greater joy than what you enjoy today.

I will highlight some of the powerful wealthy thoughts which you can harness for a greater riches and greater joy in life. Start thinking rich today.

Cheers

Sally Klaus

Ideas on How to Become Rich

Ideas on How to Become Rich- Investing in Gold - Part III

Ideas on How to Become Rich - Investing in Gold - Part III

In this section, I will be sharing with you tips on the buying and selling of gold with a view to profit in the long run.

I have over the past 20 years invested in both gold ornaments (jewellery) and gold bullions because as a conservative person, I have faith in gold more than in currency or other financial instruments.

The secret is that I managed to sell off some of my obsolete gold pieces for prices higher than I bought them for, after using them on several occasions for self adornment such as attending important meetings and functions. The prices of gold kept going up over the years due to the weakening of the US Dollar that I am reluctant to part with my gold collection in anticipation of further rise of price of this precious metal.

Well, how to buy and sell gold? First, there are several ways to buy gold. As mentioned already, you can keep gold in its physical form, either as ornamental gold, which comes in various purity standards; or as gold bars normally done by rich individuals who love to see the colour of money in gold or you can invest in gold as a financial instrument very much similar to any of the instruments used in the trading by the interbanks which can be spot, forwards or options. This is because allocated gold can be traded by central banks and other financial institutions via the commodity market, just like any commodity trading. Then you can also use this method to sell your gold.

Let me just explained a little further about how the market for gold is traded. Trading would be a series of deposits and loans taking place. A central bank for example, sells gold to a bank, which lends the gold to a gold producer who hedges gold that it has yet to produce (or mine) etc.. So transcripts very much in form like the shares or stocks, would move from one institution to another . This complex trading system is to enable the gold to have a smooth transaction from the buyer to the seller via a financial institution. The difference between the buying price and the selling price would then be calculated very much like the bank's interest rate, which in this case is the gold interest rate. Well, the main idea is for you to be able to get a good rate when you sell your gold through the financial institution.

Another way to sell gold is through the Gold Option market which functions very much the same way as the currency market. There is one more way which is to use fold as hedge funds but this method is not really exciting as the gold will be bundled with other assets as a total package by fund managers of the various financial institutions.

As a final note to all of you, gold as an inflation buster is still valid because governments and world economic conditions may change, so holding on to some form of gold investment will enable us to keep our traditional and conservative view that it is better to be safe with some gold than to be sorry.

Gold is still a barometer of global financial health. Although gold may have lost some of its lustre over the years, it is still very much a part of the human sentiment or confidence to have this precious metal in their portfolio for wealth and riches.

Before I end , some of the questions you should ask yourself are:

a) what is your motivation for investing in gold?

b) what is your view of the USDollar?

c) what is the market sentiment or trends in the financial markets?

d) Why silver is not a real good investment?

With the above, I hope that you can think about possibility of investing in gold for the long run. Gold investment is not really for speculators but for people who want to have something to hold on to whatever the future beholds..

Cheers and go for the golden opportunity!

Sally Klaus

Ideas on How to Become Rich

PS These are just investment and finance ideas and do not constitute actual investment advice or professional advice by trained professionals. 

Ideas on How to Become Rich -Investing in Gold- Part II

Ideas on How to Become Rich - Investing in Gold Part II

Hi, I will now discuss about the potential of gold as a long term investment as this commodity does not wear out through time. Also its value is well recognised by everyone and by every country. Earlier I mentioned the reasons why gold is so sought after.

During the last few years, governments of the world have been buying and hoarding gold and have a hefty gold reserves in their national treasury. This is especially so of Asian economies like China and Japan who value gold as their alternative strategy of diversification in the monetary administration.

They do so because of their strategy for national security as well.

The governments of most countries including the United States argued that keeping reserves in gold enabled them to control the fluctuations in currency and other financial instruments as part of their macro view of economic development and growth.

Due to the intrinsic value of gold and the desire of the people all over the world to own gold either in the form of jewellery ornaments or in the physical form, gold investment should be part of our getting rich strategy for the future. Moreover gold is a barometer of one's wealth in the eyes of other people so it is a good financial asset to have.

Let me also share with you another very important reason for investing in this metal. It is because in times of crisis, gold is still the best form of investment because currency and other precious metals cannot provide the mental and spiritual wonders of gold. Gold does not tarnish unlike other metals. Also the world after the banking crisis in 2009, the environment for gold investment has gained prominence due to the lessening of confidence in the banks and other financial instruments coupled with the weakening of the US Dollar.

It is a good time to go into gold investment whether it is in the physical form of gold jewellery/bars or ingots or in the form of ETF (Exchange Traded Funds) or in the form of structured notes similar to those instruments traded in the markets. Structured notes are usually capital guaranteed where the returns of investment is based on the performance of gold.

As gold is a quasi currency, gold prices tend to rise when US dollar falls. This is evident during the past few years when prices of gold kept going up and the US dollar kept falling.

However if you wish to invest in gold, you have to first examine your own profile with regard to risks and your circumstances in such a way that you are able to take whatever outcomes of the market. In investment you have to take whatever outcomes of the market which is very volatile especially these few years due to the decrease in confidence of the financial systems in many parts of the world.

Another point you have to take note is the market sentiments which could be changed very quickly due to bad news or could rise very much due to some positive sentiments of the general world economic conditions.

Well, to be rich, one has to take certain calculated risks. Investing in gold has certain advantages. It is definitely up to us to weigh the pros and cons of jumping into this volatile gold market today. Do think about it, and have a thought about this idea. 

Think about it but it is worth its weight in gold!

Cheers

Sally Klaus

Ideas on How to Become Rich

PS These are contributed ideas and thoughts, and by their nature do not constitute investment advice. 

Ideas on How to Become Rich - Investing in Gold Part I

Ideas on How to Become Rich - Investing in Gold Part I

Hi everyone . After sharing the investment opportunities in real estate and land resources, I would like to share some tips on the investment in gold .

I will divide my sharing in three parts:
Part I - Why is gold such a precious commodity from ancient times till today? The places in the world which contains gold and how people mine gold.

Part II - The potential of gold as a long term investment project

Part III - How to buy and sell gold with a view to profit

For the first part, I would like to discuss and share with you the reasons why gold is such a precious commodity from ancient times till today. If you take a look at statues of ancient civilisation from golden statues and tombs of Eygptian Pharaohs to Golden-bodied Buddha carved in the mountainous regions of China and parts of South East Asia, you will know that gold has been a sought after commodity for thousands of years.

The first simple reason is that it shines brighter than any other commodity and golden colour represents sunshine, glory and majesty. All the virtues of exhorting gold point to the fact that gold is so alluring and so demanded by lots of people especially women even today. In fact gold is more valuable than diamond as a precious item.

The second reason is that gold is used as a form of money exchange in ancient times for goods and services, because it is portable and easily identified by all.

Another reason is its durability as a precious metal. It is today considered as the third currency in the world after US Dollar and the Euro. Today, many governments of the world are hoarding gold as part of their treasury "insurance" - also known as reserves. This is also why gold prices have been going up these recent years because people do not have faith in currencies such as the US Dollar and Euro.

Knowing the various reasons why gold is so vital in economies and to individuals, let me now show you the places where gold can be found.
South Africa had been known to be the most important producer of gold until recently when China overtook it as the main producer of gold in the world market. The romantic allure of gold mining is that this metal is in glittering lumps and shines even in its raw state, before purification.

Two types of mining for gold. One is the open pit and the other is the underground mining. Most countries use the open mining method while in South Africa the gold is predominantly underground. Gold deposits were discovered by the Egyptians thousands of years ago and little has changed in the way it is being mined today.

Inspite of the challenges of underground mining such as high temperature, building up of gas in the mines and the possibility of earthquakes and other tremors in the underground caves, people would risk their lives for this precious commodity which can bring them prosperity and lots of wealth. It is worth the "risk in gold", like the saying. The joy of mining gold is beyond exhilaration to those who are involved, I was told.

Due to gold mining, thousands of people are gainfully employed in Africa and other less developed countries. Technology and advanced communication today enable gold mining to be much easier than in yesteryears. Though the environment for mining is hazardous and dirty, gold is still the alluring glittering metal that people would kill for.

Once the gold is mined, it is converted into dore-bars, at the mining sites. They are of variable weights and qualities of purities. There are many refineries in the world specialising in the refining and purification processes before gold can be the beautiful jewellery desired by women all over the world.

The measurement and the definition of the purity varies country to country and the gold bars are packed in different sizes due to the difference weight measurement used by countries. Nevertheless, the precious metal is still a very very vital commodity for the world economy and it is thus good for us to have some in our own treasure chest too.

Keeping gold as an ornament or as an investment project can be an exciting and interesting endeavour because it is a lasting metal and the value can only increased with time as the world is so uncertain about the fluctuations in currencies etc.

I would like to continue sharing in the part two on this topic shortly. Well, I leave you to think of the proverb, that "even Buddha needs gold dressing to look good"...

So, you see how important is it to grab a bit of this golden chance of our lifetime to make lots of money through this golden investment. I believe that gold is and will be the most important metal for years to come.

Cheers and have a bright golden day today
Sally Klaus
Ideas on How to Become Rich