let’s make some paper people welcome to watchmojo.com one by one I want you to
watchmojo.com one by one I want you to
watchmojo.com one by one I want you to deal with your problems by becoming rich
deal with your problems by becoming rich
deal with your problems by becoming rich in today’s installment we’ll be looking
in today’s installment we’ll be looking
in today’s installment we’ll be looking at the five myths about money that left
at the five myths about money that left
at the five myths about money that left us bankrupt we’ll be covering money in
us bankrupt we’ll be covering money in
us bankrupt we’ll be covering money in its many wonderful forms be it in your
its many wonderful forms be it in your
its many wonderful forms be it in your wallet the stock market or the bank myth
wallet the stock market or the bank myth
wallet the stock market or the bank myth number five a penny costs eight times as
number five a penny costs eight times as
number five a penny costs eight times as much as it’s worth to make most of us
much as it’s worth to make most of us
much as it’s worth to make most of us can agree that the penny is good for a
can agree that the penny is good for a
can agree that the penny is good for a few things outside of wishing wells and
few things outside of wishing wells and
few things outside of wishing wells and paying off parking tickets but common
paying off parking tickets but common
paying off parking tickets but common knowledge is somehow grown to accept the
knowledge is somehow grown to accept the
knowledge is somehow grown to accept the notion that our link and friend costs
notion that our link and friend costs
notion that our link and friend costs eight times as much as it’s worth to
eight times as much as it’s worth to
eight times as much as it’s worth to produce zinc and to a lesser extent
produce zinc and to a lesser extent
produce zinc and to a lesser extent copper make up the primary cost of
copper make up the primary cost of
copper make up the primary cost of manufacturing a penny and depending on
manufacturing a penny and depending on
manufacturing a penny and depending on the going rate of these items it may
the going rate of these items it may
the going rate of these items it may very well cost you a cent or two more to
very well cost you a cent or two more to
very well cost you a cent or two more to produce in theory however this all evens
produce in theory however this all evens
produce in theory however this all evens out when metal costs are low
out when metal costs are low
out when metal costs are low what’s more the circulation of a single
what’s more the circulation of a single
what’s more the circulation of a single penny far surpasses its singular costs
penny far surpasses its singular costs
penny far surpasses its singular costs of creation so if you’ve ever considered
of creation so if you’ve ever considered
of creation so if you’ve ever considered a career in melting down pennies for
a career in melting down pennies for
a career in melting down pennies for their precious metals keep in mind that
their precious metals keep in mind that
their precious metals keep in mind that it’s not only illegal but it’s also far
it’s not only illegal but it’s also far
it’s not only illegal but it’s also far less profitable than you may think
myth number four saving accounts
myth number four saving accounts eliminate the possibility of losing
eliminate the possibility of losing
eliminate the possibility of losing money what about my savings account the
money what about my savings account the
money what about my savings account the economy has been quite rocky in recent
economy has been quite rocky in recent
economy has been quite rocky in recent years with the 2008 housing bubble and
years with the 2008 housing bubble and
years with the 2008 housing bubble and being skeptical of the stock market is
being skeptical of the stock market is
being skeptical of the stock market is hardly unreasonable given its
hardly unreasonable given its
hardly unreasonable given its uncertainty however just because it’s
uncertainty however just because it’s
uncertainty however just because it’s guaranteed that you won’t be losing your
guaranteed that you won’t be losing your
guaranteed that you won’t be losing your money overnight
money overnight
money overnight doesn’t mean that savings accounts gain
doesn’t mean that savings accounts gain
doesn’t mean that savings accounts gain or even maintain their value can’t make
or even maintain their value can’t make
or even maintain their value can’t make the scene if you don’t have the green
the scene if you don’t have the green
the scene if you don’t have the green interest rates are notoriously low for
interest rates are notoriously low for
interest rates are notoriously low for savings accounts given their risk for
savings accounts given their risk for
savings accounts given their risk for your nature you’d be hard-pressed to
your nature you’d be hard-pressed to
your nature you’d be hard-pressed to find an annual interest rate above one
find an annual interest rate above one
find an annual interest rate above one percent while inflation fluctuates
percent while inflation fluctuates
percent while inflation fluctuates between 1.5% to over 3% on any given
between 1.5% to over 3% on any given
between 1.5% to over 3% on any given year money is a relative concept so a
year money is a relative concept so a
year money is a relative concept so a higher inflation rate means a lower
higher inflation rate means a lower
higher inflation rate means a lower level of relative wealth in the long run
level of relative wealth in the long run
level of relative wealth in the long run we’re not suggesting that you go out and
we’re not suggesting that you go out and
we’re not suggesting that you go out and invest in the next Enron but if you’re
invest in the next Enron but if you’re
invest in the next Enron but if you’re not moving forward you’re moving
not moving forward you’re moving
not moving forward you’re moving backwards as they say hell you’ll just
backwards as they say hell you’ll just
backwards as they say hell you’ll just earn your money away myth number 3
earn your money away myth number 3
earn your money away myth number 3 earning more money may result in less
earning more money may result in less
earning more money may result in less net income due to tax brackets if you
net income due to tax brackets if you
net income due to tax brackets if you think it was death and taxes you
think it was death and taxes you
think it was death and taxes you couldn’t avoid that it’s actually
couldn’t avoid that it’s actually
couldn’t avoid that it’s actually definite so the Bossman’s finally given
definite so the Bossman’s finally given
definite so the Bossman’s finally given out that raise you’ve been working
out that raise you’ve been working
out that raise you’ve been working towards I am going to double your salary
towards I am going to double your salary
towards I am going to double your salary but after careful analysis it comes to
but after careful analysis it comes to
but after careful analysis it comes to your attention that your new tax bracket
your attention that your new tax bracket
your attention that your new tax bracket is 10 percent higher than before believe
is 10 percent higher than before believe
is 10 percent higher than before believe it or not this in no way puts you in
it or not this in no way puts you in
it or not this in no way puts you in danger of earning less or even a
danger of earning less or even a
danger of earning less or even a comparable amount to your earnings
comparable amount to your earnings
comparable amount to your earnings before family lives update or FICA
before family lives update or FICA
before family lives update or FICA capture the majority of countries
capture the majority of countries
capture the majority of countries operate under what’s known as a marginal
operate under what’s known as a marginal
operate under what’s known as a marginal tax rate in the US for example a single
tax rate in the US for example a single
tax rate in the US for example a single tax filer pays 10% on their first nine
tax filer pays 10% on their first nine
tax filer pays 10% on their first nine thousand two hundred and twenty five
thousand two hundred and twenty five
thousand two hundred and twenty five dollars 15 percent on any earnings after
dollars 15 percent on any earnings after
dollars 15 percent on any earnings after that until thirty seven thousand four
that until thirty seven thousand four
that until thirty seven thousand four hundred and fifty dollars and the
hundred and fifty dollars and the
hundred and fifty dollars and the pattern continues until roughly forty
pattern continues until roughly forty
pattern continues until roughly forty percent is given on all earnings above
percent is given on all earnings above
percent is given on all earnings above four hundred and thirteen thousand two
four hundred and thirteen thousand two
four hundred and thirteen thousand two hundred and one dollars so don’t turn
hundred and one dollars so don’t turn
hundred and one dollars so don’t turn your nose up at that lovely bonus
your nose up at that lovely bonus
your nose up at that lovely bonus Nichols Wilde you are under arrest
Nichols Wilde you are under arrest
Nichols Wilde you are under arrest ah for what hurting your feelings felony
ah for what hurting your feelings felony
ah for what hurting your feelings felony tax evasion myth number two trading
tax evasion myth number two trading
tax evasion myth number two trading stocks is just like gambling so
Vegas etrade they’re more or less the
Vegas etrade they’re more or less the same thing right
same thing right
same thing right well in theory the stock market can be
well in theory the stock market can be
well in theory the stock market can be treated like a roulette table but any
treated like a roulette table but any
treated like a roulette table but any broker with this mentality will find
broker with this mentality will find
broker with this mentality will find themselves without a job if not also
themselves without a job if not also
themselves without a job if not also under the scrutiny of the law after
under the scrutiny of the law after
under the scrutiny of the law after losing their clients money Michael give
losing their clients money Michael give
losing their clients money Michael give me my money back Michael do you hear me
me my money back Michael do you hear me
me my money back Michael do you hear me I want my money back a major difference
I want my money back a major difference
I want my money back a major difference between the two is their end goal with
between the two is their end goal with
between the two is their end goal with gambling acting as a zero-sum game while
gambling acting as a zero-sum game while
gambling acting as a zero-sum game while investors aim to expand the PI 5 if
investors aim to expand the PI 5 if
investors aim to expand the PI 5 if Apple stocks go up both the investors
Apple stocks go up both the investors
Apple stocks go up both the investors and the company are happy if you win big
and the company are happy if you win big
and the company are happy if you win big at the craps table the Bellagio loses
at the craps table the Bellagio loses
at the craps table the Bellagio loses money from their pockets calculated
money from their pockets calculated
money from their pockets calculated decision-making replaces emotionally
decision-making replaces emotionally
decision-making replaces emotionally driven crap shoots in the stock market
driven crap shoots in the stock market
driven crap shoots in the stock market and those with addictive behaviors are
and those with addictive behaviors are
and those with addictive behaviors are swiftly weeded out of the trading floor
swiftly weeded out of the trading floor
swiftly weeded out of the trading floor the debugger is forced down prices is
the debugger is forced down prices is
the debugger is forced down prices is gonna buy everything back on a cheap
gonna buy everything back on a cheap
gonna buy everything back on a cheap Starfire myth number one the u.s. owes
Starfire myth number one the u.s. owes
Starfire myth number one the u.s. owes China so much debt that China owns them
China so much debt that China owns them
China so much debt that China owns them we were being ripped off by everybody
we were being ripped off by everybody
we were being ripped off by everybody every country including China big league
every country including China big league
every country including China big league it’s been said in many a political
it’s been said in many a political
it’s been said in many a political debate China owns the US and we’d hate
debate China owns the US and we’d hate
debate China owns the US and we’d hate to see what happens if they ask for
to see what happens if they ask for
to see what happens if they ask for their money back yes China does hold
their money back yes China does hold
their money back yes China does hold over a trillion dollars of the United
over a trillion dollars of the United
over a trillion dollars of the United States national debt but national debt
States national debt but national debt
States national debt but national debt is far more complex in the friend who
is far more complex in the friend who
is far more complex in the friend who owes you $600 in rent money I would like
owes you $600 in rent money I would like
owes you $600 in rent money I would like your share of the rent now please oh man
your share of the rent now please oh man
your share of the rent now please oh man you know I don’t have it you wind me up
you know I don’t have it you wind me up
you know I don’t have it you wind me up for that come on the dollar is one of
for that come on the dollar is one of
for that come on the dollar is one of the safest currencies in the world and
the safest currencies in the world and
the safest currencies in the world and China uses this debt to peg the UN to
China uses this debt to peg the UN to
China uses this debt to peg the UN to the dollar a dollar pegged yuan also
the dollar a dollar pegged yuan also
the dollar a dollar pegged yuan also makes their emerging market more robust
makes their emerging market more robust
makes their emerging market more robust internationally which goes hand in hand
internationally which goes hand in hand
internationally which goes hand in hand with cheaper Chinese exports we’re not
with cheaper Chinese exports we’re not
with cheaper Chinese exports we’re not saying that overwhelming national debt
saying that overwhelming national debt
saying that overwhelming national debt is a good thing but it certainly
is a good thing but it certainly
is a good thing but it certainly distorted for political rhetoric in
distorted for political rhetoric in
distorted for political rhetoric in cases such as this well China has money
cases such as this well China has money
cases such as this well China has money does anybody win so yes so how many of
does anybody win so yes so how many of
does anybody win so yes so how many of these money myths did you believe
these money myths did you believe
these money myths did you believe I found a quarter for more cash grabbing
I found a quarter for more cash grabbing
I found a quarter for more cash grabbing top tens and inflationary top fives be
top tens and inflationary top fives be
top tens and inflationary top fives be sure to subscribe to watchmojo.com
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