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My Effective Banking Scheme

Discussion in 'Making Money' started by verial, May 19, 2012.

  1. verial

    verial Junior Member

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    Okay, this is advanced mechanics for people who are already successful in their businesses.

    1. Take 10% of your gross income.
    2. Put half of that in a bank account close to your home.
    3. Put the other half in a bank account FAR AWAY from your home -- miles and miles away.
    4. Do this frequently--like once per month or bi-monthly if you're doing online business; and like once per day or so if you're doing consulting or whatever.
    5. The money in the account far away from your home is your WEALTH ACCOUNT. Don't touch it.
    6. The money in the account near your home is your RISK ACCOUNT. Don't spend it on yourself.

    The risk account is for risky investments and start-ups.
    The wealth account is for adding to the successful investments and start-ups.

    This should apply to all of your income, whether its HARD-EARNED DOLLARS or lottery winnings.

    Imagine the situation:

    You have $100.
    $5 goes in your RISK ACCOUNT.
    $5 goes in your WEALTH ACCOUNT.

    The RISK ACCOUNT is tantamount to making money. Most people are completely impulsive and reactive to new ideas and investments. They either NEVER risk their money or risk their money WITHOUT THINKING. The risk account makes you spend a reasonable amount on risky investments.

    Your WEALTH ACCOUNT accelerates your successful risks.

    Your $100 multiplies by disappearing. Try it for a month, and you will see results. It makes no sense, but it happens.
     
  2. pmg2712

    pmg2712 Junior Member

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    Hehe.. Liked it alot.. I keep many accounts.. Bt i am waiting for my 100.
     
  3. akazzz

    akazzz Regular Member

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    I learned this somewhere from an investment course I took years ago. Great reminder!
     
  4. slate2011

    slate2011 Regular Member

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    cool idea!
     
  5. Jeppe

    Jeppe Registered Member

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    I have something slightly more complicated than this set-up but it borderlines on real wealth management handled by me.
     
    Last edited: May 19, 2012
  6. williamk

    williamk BANNED BANNED

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    Very good planning. I have some accounts but still dont bank too much to get most out of it.