Financial FREEDOM! (The Eight Rules)



by Kobina Wright

It’s been a while since I’ve posted, but don’t worry, I haven’t abandoned The Wrighter, I’m simply trying to put a few new irons in the fire.  That being said, I’ve been thinking of you, Wrighter Readers, and I came across this list of “Eight Rules for Financial Independence” compiled by financial “guru” Mark Ford/ Michael Masterson (whichever name he goes by these days).

If you want more tips on how to get your financial engine revving, you might want to pick up his book Automatic Wealth: The Six Steps to Financial Independence.  I know what you’re thinking…

“Hey, the title of this list is Eight Rules but his book title says Six!”

Yeah, I hear you.  I really don’t know what that’s about…

Enjoy.

  

The Eight Rules for Financial Independence

When I decided to become rich, I began to keep a journal of thoughts I had about making money, losing money, and building wealth.

One chapter of that journal had to do with financial independence. And the eight rules I came up with then are the same rules I follow today:

1. You can't truly trust anybody but yourself with your money.

2. The harder someone tries to convince you to trust him, the less you should.

3. However good a track record someone has, never believe that he/she can't suddenly start your losing money. In fact, if you are like me, the moment you invest will be the moment his/her track record starts falling apart.

4. All markets rise and fall. Don't ever believe anyone who assures you that they can predict the future.

5. If you don't learn to spend less than you make, you will never have peace of mind.

6. Most of what you buy when your income is above $100,000 is discretionary. Don't fool yourself into thinking you need a big house or a fancy car.

7. In making financial projections for yourself or a business, always create three scenarios: one that shows what things will look like if everything goes as hoped; one that shows what will happen if things are mediocre; and one that shows what will happen if things fall apart.

8. Know that the third scenario is optimistic.

Chutima Kerdpitak: Circus Terminal's Ringmaster

By Nok

Today's artist, is one I consider a friend.  I met Chutima Kerdpitak (known also as Nok) on my residency in Thailand.  She is actually one of those responsible for my residency and was my primary guide around Chiang Mai. 

Though she has had formal training in visual art, Nok, told me she rejected the teachings of traditional art instruction and gravitated to work that promoted self-instruction, as that of outsider art.  This tough little woman is very smart, and extraordinarily interesting!

How do you describe your work?

I am preaching and campaigning "Freedom of Choice" through my art.  My work has been recognized as political by the others.  My works are naturally ‘thought provoking’ by my own nature as an individual.  I am keen on working with found /local/discarded objects both in 2 and 3 dimensional. I work spontaneously with what I have found/collected.  I work intuitively with my opinion in combination with my direct experience in my circumstance.  I use an assemblage of disparate objects to make it makes sense as a single object/sculpture/installation.  My work’s tone is sarcastic and playful, using sarcastic/ironic titles as a hint of the ideas behind them.

What will you be working on in the month of April?

My ongoing project since 2010 is called ‘The Toilet Territory (TTT)’Project.  Dealing with the manipulation of the capitalism dominated world in relation to the truth of life.  I grew up in a Buddhist environment and we have been always ingrained with the fact of LIFE that everyone goes through the same circle, Birth, Age, Illness, Death.  Therefore I have been analyzing, questioning, investigating those relationships between the 2 opposite worlds and I stand firmly on what I have concluded; how I and other human beings should live their life.  The happy moments are the only things everyone should be considering by gaining the highest level of ‘Freedom of Choice,’ which means our inner WILL/CHOICE not be society; i.e., majority’s choice/influence/force.  Corporate marriage and the context of true love in connection to marriage by means of law, are my main focus at the moment.

What is Circus Terminal and what is your role?

"A Waitress" - by Nok

Found movie promotional cardboard stand,

phone chargers, toilet tissues, sponge and

the artist's belongings. 

Exhibited in 'COPY0909'

International Exhibition 2009,

Notting Hill, London

Circus Terminal is a worldwide artist led project with a focus of ‘INCLUSION’ that intends to build up a viral sustainable artists’ community across the earth.  The project is a movement of its collaboration among artists from self-taught and taught backgrounds to create a barrier-less community from both Uncooked Culture artist members and other artists who are passionate and dedicated to their creation without being a member.

Dr. Melissa Westbrook, Founder of the Neo-Outsider Art Movement has described the Uncooked Culture in support of its 1^st international collaborative project held in Thailand, 2011:

“Uncooked Culture,” an online community dedicated to fostering

free-minded and self-taught artists who are influenced by Insiders and Outsiders but are subservient to neither.”

My role is as the Circus Terminal Worldwide initiator, lead artist, curator (with no jury procedure) and director, who is responsible for collaborating with lead artists who volunteer to host Circus Terminal in their country.  I am also responsible for publicity and online documentation, both informational and photographic, such as website information at www.uncookedculture.com; online publicity including design through our online artists’ social network at www.uncookedculture.ning.com; Circus Terminal Worldwide Facebook Fan Page and Uncooked Culture account on Twitter.  Circus Terminal’s online collaboration among its participating artists has been ongoing since February 2012.  The project’s name, ‘Circus Terminal,’ has been established since March 2012 and launched its first exhibition and accompanied public events at The Tabernacle – London in April 2012. It departed from the UK then travelled to Spain, France and recently Thailand.  It continues to showcase work of artists from the ‘outsiders’ and ‘insiders’ world, irrespective of the artist’s educational background, in its exhibitions and contributed creative activities & events in local communities along its journey. Circus Terminal shares artists' 'journeys' through open interpretation of their creations in unlimited forms of art.

Circus Terminal intends to grow by providing opportunity to more artists to join and by creating new relationships among diverse artist’s community to maintain a self-reliant artists’ community.  In every country the project is held, local artists are invited to participate in its exhibition and other collaborative activities.  After the project’s completion in each country, participating local artists have joined the touring exhibition to our other ‘Stops.’ Circus Terminal started from 41 artists from 12 different countries in its Project Launch Week – London.  The number of participating artists has expanded gradually on its routes and has reached 75 artists – 19 countries after we completed our project in USA in the beginning of March 2013.

Our exhibition and collaboration will be travelling to Amsterdam from 13 July – 17 August and will be followed by its ‘Circus Terminal WORLDWIDE Route Masters’ Exhibition at London West Bank Gallery, an exhibition of our lead artists, who host the project in their countries, from our ‘Stops’ across the globe along with invited artists - September 2013.

I am, as an artist, from both self-taught and schooled backgrounds. The brewery of thoughts and realization during an artist residency, turned up subconsciously and has driven me to create projects for 'ALL', where 'Give & Take' are the main ingredients and the benefit are for 'ALL' instead of just for myself as an individual artist.

My awareness of the financial struggle of artists, who are dedicated and passionate to what they are creating, came from having direct experience. I do believe it is also a bright side for an artist not to depend on earning a living from art. If an artist had to follow the mainstream, comply with the market demand that guarantees acceptance from art establishments and sales of their artwork through commercial galleries' guideline; either subconsciously or intentionally, an artist could end up manipulating their practice instead of being truthful to their own passion of experimentation, in order to achieve their financial and social goals.

Relieving artists from investing on application fees to participate in creative activities helps them continue their artistic passion with freedom - free from the pressure of having to earn more particularly for these purposes and free from the manipulative influence mentioned above.  A 'not-for-profit' activity builds up a sense of community where participating members share their experiences, knowledge, inspirations and brings endless benefit to share with ALL - within and beyond its community. In order to make Uncooked Culture financially sustainable, it is possible to generate revenue from other tracks of commercial activities which are aside from or incorporated with its non-commercial collaboration in its future plans. Uncooked Culture is committed to the principle of sharing benefits with artists, as an individual and as a global creative community, taking part in inspiring positive changes to its art and human sphere, from both its existing non-commercial and possible future commercial activities. The end results could assist artists on tackling financial struggles and barriers caused from the so call judgment of superiority and inferiority within the art world, especially for the groups that are facing exclusion.

"Who Am I..." - by Nok
White & Red Rice and white painted suitcase
Installation at The RBS Gallery

What living artist do you consider to be "amazing" at the moment?

Too many living artists to be named. Most of them are underrepresented ones, for example, one of our participating artists from Slovenia – Nina Mrđenovič, who I came across in at a  guesthouse during Circus Terminal THAILAND and Jim Meehan from Pennsylvania who I discovered during Circus Terminal USA.... both of them keep creating their art without purposes, not even for exhibiting! To me, an amazing artist is the one who is truly passionate, committed and dedicated to their artistic passion which can be anyone that this world has not discovered! My all time favorite artists who are not alive are Joseph Beuys (Social Sculptor with his ethics that everyone is an artist) and Jean Dubuffet ("I am a Sunday Painter for whom everyday is Sunday").

What has been the latest event in the news that has left you feeling disturbed? Why?

News/Over-rated Reviews on any controversial artists/persons’ act, whose work I can see were acts of a short-cut to get from A to B; ie, a Sell-Out!!  I am not interested in the contemporary world, especially art, any longer.  Why?  It’s is just another pilgrim of manipulative/capitalism orbit although their works are against it even, where I cannot see the true point of it, regarding the Truth of Life/Freedom of Choice/True Happiness. I am interested in purity in an individual and the fights against all odds of the manipulative world.

What was the last thing you ever sold, art or otherwise?

Rare! One painting on a discarded part of an advertising vinyl stand founded during our Circus Terminal THAILAND-Artist in Residency at Watch Space, Chiang Mai – Thailand. The piece was exhibited in Circus Terminal USA at Studio B Gallery in Boyertown –Pennsylvania.  My works are often installations which are not actually intended to sell.  My biggest earning from making art is from a commission from Lynn Todd, one of Circus Terminal WORLDWIDE artists who currently lives and works in New Zealand as a sculptor.  It was a family portrait of 5 family members in one painting called ‘Extended Family.’

I let my artist practice flow as I wish to do rather than trying to make a living from it.  I have found that trying to make a living from art potentially manipulates an artists’ deep passion from their very own truth, to something following the market demands instead.

 

Masterson's - Uh...Ford's Savings Bucket

This is the  essay that helped me confirm that Mark Ford and Michael Masterson are the same person.  This essay tries to sell a product but is still a good ETR repost.

Enjoy.

The Golden Bucket of Savings

By Mark Ford

Once you have figured out how large your spending bucket needs to be, you can start to figure out the size of your saving and investment buckets.

You may be wondering what the difference is between saving and investing. To most people, they are the same. But I like to distinguish between them because I believe it will help you acquire wealth safely.

Saving and investing are the same in the sense that you are setting aside some portion of your current earnings for the future. The difference is, the purpose of saving is to safeguard that set-aside money, whereas the purpose of investing is to grow it.

The money in the savings bucket is money that I refer to as your SOA (start-over-again) fund–the money you put aside in case of a financial disaster. What if, for example, you woke up one day to find the company that has employed you for the last twenty years has shut its doors, and the pension plan it was holding for you is suddenly worthless?

You would have to start over, right? You'd need money to pay for your expenses while you found a new job, and you'd need money to start investing again. That's why you need money in your savings bucket. And that money has to be absolutely safe.

Imagine how you would feel if you called up your broker to let him know that you needed to cash in your start-over-again fund and he told you its value had suddenly crashed and was now worth 10 cents on the dollar? Well, that's exactly what happened to millions of Baby Boomers. The reason it happened is because these people did not distinguish between saving and investing. They had all their wealth tied up in investments advertised as safe, but were actually quite risky.

You don't want to take any risk with your start-over-again money. The primary purpose of that money is to preserve, not increase, the capital you set aside. Putting it at risk, even average market risk, is too dangerous.

You need to be equally as careful with the money you set aside to repay debt. Because when the bill comes due, you must pay it. Keep that money safe. Put your debt obligations in your savings bucket, never into the market, even if the market looks safe.

Same is true of any future expenditure that is coming up relatively soon. By relatively soon, I mean, say, one business cycle–seven to ten years.

If, say, your retirement is still twenty or thirty years away, you can afford to invest money set aside for that purpose in vehicles that are safe, but not super-safe. However, if you will be retiring in less than ten years, you can't take the chance of seeing your retirement fund drop by 20% to 30%, because you won't have time to let the market correct itself.

So if you plan to retire in five years and you will be drawing on your retirement savings, you want to transfer at least five years' worth of your retirement fund from your investing bucket to your savings bucket. To ensure that you will be able to pay for the retirement life you want, you can't afford to have that money at risk.

Are you with me?

For your savings bucket, your money should only be in super-safe investments–investments that are highly unlikely to go down in value in the next ten years. Given today's economy, we believe there are only four vehicles that qualify: cash, gold coins, quality municipal bonds, and well-bought rental real estate. For simplicity, my recommendation would be that you diversify your savings bucket funds evenly: 25% into each if you use four of them, 33% if you use three of them or 50% if you use only cash and gold coins.

I want you to estimate how much you'll need in your savings bucket. That includes the money you would need in your SOA (start-over-again) funds if, for whatever reason, you lost everything. It also means identifying all of your debt obligations, and figuring out the totals of any future expenditures that will be coming due in the next ten years.

The Golden Bucket of Investing

As I said, the purpose of your investing bucket is to grow your wealth. This is the bucket you will use to fund all future, long-term expenditures. By "long-term," I mean more than ten years.

If you are young, you may use this bucket to put aside money for your children's college expenses. But for the most part, the money in this bucket will be for your retirement. And when you look at investment returns from a long-range perspective like that, even a few percentage points can make a huge difference.

I won't spend any time here talking about how you should manage your investing, because Tom and Paul do that in The Palm Beach Letter. But I will say this: The kind of stocks they recommend are the only kind that appeal to me. Every other stock investing strategy I've encountered (and I've been in the financial publishing business for more than thirty years) makes me uncomfortable.

The recommendations that you get every month from Tom and Paul in The Palm Beach Letter are designed to give you an average, long-term return of 10%-15%. This might seem paltry to people who dream of doubling and tripling their money in the market every year, but those kinds of investors almost always end up broke. And making 10%-15% on your money over the long term will give you terrific results.

But–and this is a very big but–you won't get wealthy this way unless you invest enough money.

In other words, investing alone can't make you rich. So if you can afford to invest only a few thousand dollars a year, you will not get rich even if you make 15% a year for forty years. To fill your investing bucket, you need to invest more than that–and if you can't invest more than that right now, you need to generate more income so you can.

That brings us back to the metaphorical well that represents your yearly income–the well you're going to use to fill all three of your buckets.

Your Golden Well

If your income isn't sufficient to fill all three buckets, you have only two options: You must increase the flow from the well you have, and/or you must dig some new wells.

You can increase the income from your primary well (your job) by becoming a more valuable employee. I have written on this subject in several of the books I published under the pen name Michael Masterson. The one I recommend is Automatic Wealth for Grads... and Anyone Else Just Starting Out.

If you can become a more valuable employee, you should. But you may also want to create other streams of income.

One possibility would be to invest in rental real estate. If you decide to do that, it will become–after you have paid down the mortgages–its own well, pumping liquid gold to you every year thereafter.

Another option would be to start a side business and let your spouse or a relative run it. If you are interested in doing that, I recommend Ready, Fire, Aim, another book I wrote as Michael Masterson.

The Palm Beach Income system could be another well for you in the future.

Less Than One Day Left to Bid on "2"

There is less than one day left in the auction for my abstract painting titled “2” currently listed on ebay.

I’ll give you three brief reasons why you should place a bid:

The starting bid is under $70 bucks!

Because the auction is so close to ending, you have a GREAT chance of getting the painting at its listed price (or slightly above it).  Believe me it pains me to sell this painting at such a low low price, but I’m doing it anyway.

The number 2 has meaning.

To those who study or follow numerology, numbers have significant meanings.  The positive traits according to the belief are: Cooperation, adaptability, considerate of others, sensitive to the needs of others, partnering, an arbiter or mediator, modest, sincere, spiritually influenced, a diplomat.

This is the perfect opportunity to get a work in this series.

The abstract painting “2” is, of course, the second in a three part series.  The painting titled “1” sold in January, so, doing the math, there’s only two chances to get a painting from this series.  Then that’s it.  You’ll be saying to yourself, “DARN IT why didn’t I buy it when I had the chance?  AWWW!”

Take a peek (or another if you’ve seen it already) and place your bid.  Remember, there’s less than a day left!

Go to: http://www.ebay.com/itm/Abstract-Painting-Titled-2-by-Kobina-Wright-/261192275329?pt=Art_Paintings&hash=item3cd045d581

Have a wonderful week!

 

Ewen Gur and the Urban World

by E. Gur

Today’s feature focuses on the French artist, Ewen Gur, whose work undoubtedly is influenced by urban life, pop culture and music.  Learn more about Ewen Gur by visiting: ewengur.fr.

 

How would you describe your work?

My work is a mix between comics and graffiti. I work on imaginary urban characters in various situations, mostly with a rock'n'roll attitude. 

I have some recurrent characters, like the rock'n'roll girl or the stressed businessman. 

I work with various media supports on which I transfer my characters: illustration, painting, fashion, product design etc….  

by E. Gur

What have you been working on in the month of March?

I did some personal works but I've been mostly preparing my show at Galeries Lafayette Berlin: "la Femme rock'n'roll", exhibited March 28th- April 11th. 

What living artist (besides yourself) do you find “amazing” right now?

My girlfriend, Delphine Maillard, is a great songwriter and a daily inspiration.   

There are a lot of talented people out there, let's just name a few that influence me these times: Shaun Barber, Nate van Dyke, Mc Bess, El Mac, Audrey Kawasaki... 

by E. Gur

What recent news worthy event has inspired you? How?

 

Everything that has a concern with the rock'n'roll attitude. Stories about parallel businesses like all the gang stuff influence me too.  I also like to read some news about the rap- or rockstars and their problems. Always funny. 

What is your favorite movie? Why?

 

Hum, difficult choice, there are so many.  Maybe "Blue in the face" - so simple, so true, very urban and some great lifescapes.

Abstract painting "2" Now Auctioning on eBay

Today is the day I listed the abstract mixed media painting titled “2” on eBay.  When you get an opportunity, please visit the listing and place a bid. (Click here)

The auction is a five day listing – and you KNOW how fast a week flies by.

In the meantime, I’ll continue to fill out the Duet series, another mixed media project using ink and watercolor (you can check some worksfrom the series here).  Also, my residency in Chiang Mai, Thailand has inspired me to experiment with found object sculptures.  The first one I’ve ever created now hangs in my bathroom.

In the month of March, Boxcar Poetry Review published two works from the Cali Free series (click here to see those).  In the month of April, both Burning Word Literary Magazine and The Bicycle Review will publish some of my poetry in their online magazines.  You know I’ll keep you posted!

If you’d like to read more about the history of “2” (or “1” or “3”) click here, but don’t forget to place your bids.

Live. Think. Evolve.

Camille Eskell and The Fez Cap Series (and Other Interesting Tid Bits)

Contemporary artist, Camille Eskell is back on The Wrighter today and  I highly encourage you to learn more about her at her website: camilleeskell.com





How would you describe your work?

My work explores family and cultural dynamics that form our self-perception, identity, and motivation. The resulting “states” of these experiences, psychologically or historically, are imaged in series that frequently meld two-and three-dimensional practices.

What are you working on in the month of March?


Designing the second piece of my Fez cap series, which examines the confluence of cultures shaping the Baghadi-Jewish experience in Bombay, India. The work combines photo-based images with symbolic embellishments culled from Indian and Sephardic traditions. The fez format signifies the foundation established by both my grandfathers, who manufactured and/or traded the hats in Bombay.

What living artist (besides yourself) do you find “amazing” right now?

El Anatsui. His work is stunning, imaginative and resourceful, evokes cultural fabrics/weavings, and straddles painting and sculpture.

What recent news worthy event has inspired you? 

I can’t say I am inspired by news events. I keep watch on them, but become rather more disturbed than inspired. 

What is your favorite movie? Why?

I have many favorites for different reasons. One of them is the Wizard of Oz, classic, technologically brilliant, with unforgettable design on all levels.

What was the last song you heard? Did you sing along? 

It happened to be One Singular Sensation from A Chorus Line (I went to a production very recently). The finale was thrilling and yes, I sang along with the whole audience up on their feet--