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Outsmart the Money Magicians: Maximize Your Net Worth by Seeing Through the Most Powerful Illusions Performed by Wall Street and the IRS

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Christopher Manske

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“Homes, and other purchases like it, supposedly prove to our community that we have money, but many times these purchases are just signaling to others that we used to have money.”

WealthMoneyPerceptionFinanceConsumerismVirtue Signaling
Book:Outsmart the Money Magicians: Maximize Your Net Worth by Seeing Through the Most Powerful Illusions Performed by Wall Street and the IRS
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“Money made by our own effort is limited by how much time, energy, and attention we can give to a task along with what other people will pay for us to do that task. Making money in this firsthand fashion is hard on us because we run our own personal rat race.”

WealthMoneyBalanceRetirementConsumerismPrincipleRat Race
Book:Outsmart the Money Magicians: Maximize Your Net Worth by Seeing Through the Most Powerful Illusions Performed by Wall Street and the IRS
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“Don’t increase your lifestyle until your passive income surpasses your active income. You’ll know you can and should buy that luxury item when the cost of keeping it is totally covered by your passive income. The things you own (such as dividend-paying stocks, oil partnerships, and real estate investment trusts) should pay for the things you enjoy and consume.”

WealthLifestyleConsumerismFinancial FreedomRat RaceFinancial IndependenceBudgetingPassive Income
Book:Outsmart the Money Magicians: Maximize Your Net Worth by Seeing Through the Most Powerful Illusions Performed by Wall Street and the IRS
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“A group of investments isn’t something people can touch or examine in the physical world. Instead, the statement is the lens that investors use to view and understand their finances. It is what’s inserted between the observer and the observed, which, it’s important to note, is not created by the investor.”

WealthInvestmentStatementObserverLensFinancial ReportingLens Of Perception
Book:Outsmart the Money Magicians: Maximize Your Net Worth by Seeing Through the Most Powerful Illusions Performed by Wall Street and the IRS
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