Learn From Scrooge McDuck

There’s a great deal more to becoming rich than buying the right investments and hoping for the best. The most important element in your strategy to win the battle for investment survival is your own psychology. You’ve heard that your attitude helps your health and your golf score; it’ll also improve your earning power.

It’s not enough to liquidate your past financial mistakes. It’s more important to liquidate counterproductive attitudes, approaches, and methods of dealing with problems. The results that someone gets in life are an indication of how sound his approach toward life is. A sound philosophy of life gives good results. People with chaotic, unproductive, unhappy lives usually don’t have anyone to blame but themselves. They rarely have a strategy for living and thus have no foundation on which to build a strategy for investing.

There’s plenty of good advice available on the subject. Marcus Aurelius’ Meditations, Ben Franklin’s autobiography, Norman Vincent Peale’s Power of Positive Thinking, Frank Bettger’s How I Raised Myself from Failure to Success in Selling, and Maxwell Maltz’s Psycho-Cybernetics are all helpful.

The single wisest thing you can do with your money is not buy gold. It’s to take courses and acquire knowledge in other fields, as unrelated to what you are now doing as possible. Anything related to science, and in particularly, technology would seem especially suitable. Computer science, medicine, mechanics, agriculture, and electronics are all going to remain in demand.

In the TV series Star Trek, the supremely knowledgeable Mr. Spock bailed the crew out as often as anyone. It’s hard to imagine him unemployed, for that reason. More knowledge can only increase your understanding of the way the world works now, and if it stops working the way it presently does, you’ll be able to continue. It will then no longer be the end of the world if you lose your present job.

And a lot of people will.

Editor’s Note: Most people have no idea what really happens when an economy collapses, let alone how to prepare…

Reprinted with permission from Doug Casey’s International Man.

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