Skip to main content

Is Poverty A State Of Mind?: Creating A Learning Society

It's controversial when I say that "Poverty is a state of mind" because people don't think deeply through what I mean. Obviously being poor is real, not 100% mental. I have been broke, sleeping on a couch in a mobile home, with only $47 in my bank account.

But what got me off that couch was a change in mindset. A shift.

Without that mental shift, no amount of handouts or well-meaning people's help would have done me any good in the long run.

For today’s Book-of-the-Day, I was reading "Creating a Learning Society” by Joseph Stiglitz.

He says, 
“The transformation to ‘learning societies’ which occurred around 1800 for Western economies, and more recently for those in Asia, appears to have had a greater impact on human well-being than improvements in allocative efficiency or resource accumulation."

Joseph Stiglitz won a Nobel Prize as an economist and his scientific research confirmed that what actually keeps nations, communities, and individuals poor is not primarily a lack of capital or opportunities (what most people think). 

Instead, Stiglitz found the root is a lack of knowledge, and more specifically a lack of knowledge on how to gain more knowledge.
The inability to learn quickly and efficiently...

What his research found was, 
“What separates developed from less-developed countries is not just a gap in resources but a gap in knowledge."

Like the Chinese saying goes, "Give a man a fish, feed him for a day. Teach a man to fish, feed him for a lifetime."

You must learn how to learn.

It's an art and a skill.

Most people are too slow of learners due to their fixed mindset that won't adapt to feedback analysis because of their simple stubbornness and delusion (wishing the world was like their fantasies instead of having the courage to seek truth). 

Learn how to learn more quickly and you will live a very rich life (not just financially).

Team Thayer  www.teamthayer.com

Justin Lee Thayer is Lane counties expert in market analysis for real estate investors. Call Justin @ 541-543-7287

Popular posts from this blog

UFC 227 play-by-play and live results #UFC #MMA #UFC227

LOS ANGELES – MMAjunkie is on scene and reporting live from today’s UFC 227 event, and you can join us for live play-by-play and official results beginning at 6:30 p.m. ET (3:30 p.m. PT). The event takes place at Staples Center in Los Angeles. The main card airs on pay-per-view following preliminary-card bouts on FX and UFC Fight Pass. In the main event, bantamweight champion T.J. Dillashaw (15-3 MMA, 11-3 UFC) rematches former champ and ex-teammate Cody Garbrandt (11-1 MMA, 6-1 UFC) for the title. In the co-feature, flyweight champion Demetrious Johnson (27-2-1 MMA, 15-1-1 UFC) has a rematch with Olympic gold medalist and former title challenger Henry Cejudo (12-2 MMA, 6-2 UFC). Follow along with our round-by-round updates and official results beginning at approximately 6:30 p.m. ET for the UFC Fight Pass prelims, 8 p.m. ET for the prelims on FX, and 10 p.m. ET for the main card on pay-per-view. To discuss the show, be sure to check out our  UFC 227 discussion thread...

Understanding the tax advantages and disadvantages of homeownership #realestate #taxadvantage #taxes #housing #market

It’s no secret that some of the major perks of homeownership are the tax write-offs and advantages that follow the purchase. In fact, according to a 2015 survey by the National Association of Realtors, 80% of homebuyers see homeownership as a good investment, and 43% think it’s better than investing in the stock market. Reaping the rewards of mortgage interest and property tax deductions is just one way to think of your home as an investment. But there are even more real estate–related tax advantages and disadvantages that can slip under a new homeowner’s radar. It can be relatively easy to trigger tax liabilities or perks (and then fail to claim them) on that new piece of  Eugene, Or, real estate . This is why it’s essential to touch base with your tax pro before every real estate transaction, no matter how minor a question you may have. Sometimes planning and timing make a major difference in the financial impact of a real estate–related tax; other times, ...

Team Thayer Real Estate House Flipping Traps! #flippinghouses #eugeneoregon #oregon #housing #market #realestate

If you’ve got several leads waiting to turn into potential deals, you can’t wait for one to suddenly come knocking at your door. Successful real estate house flippers have one trait in common: they place an emphasis on proper planning. Once you’ve secured a deal, you must decide what kind of rehab you will perform. Will you conduct a few simple cosmetic upgrades (like these  10 rehab projects you finish in one weekend )? Or, is the home nice enough to sell after  an easy prehab ? Are there structural damages that will require you to carry out more major renovations? Will you focus on implementing environmentally friendly renovations  – also known as “greenhabbing” – so that you  qualify for certain tax benefits ? Once you’ve determined your strategy, it is important to ask yourself these specific questions before diving into the construction action: What are the current market conditions in my area? What does my ideal buyer look like? Does my marketing cam...