“Success in life is measured by the ability to anticipate change, and I came to Singapore in response to the realization that the world is in the midst of a historic shift, a dramatic reshaping of the terrain, a decline of US leadership in the world and a commensurate rise in Asia.”
Jim Rogers latest book, Street Smarts, gives an enlightened, easy to read profile of why one of the United States’s top financial gurus is heading East for new financial prospects and a new place to live with his family.
While telling the story of Roger’s life, the book includes such tips as:
Study agriculture, finance is a thing of the past. Agriculture degrees will be worth more in the coming decades over a finance degree.
Do what you love and the money will follow. “Before asking how much you are going to get paid for a job, first decide whether it is the right job, whether it is the right place for you, because if it is the right place and you do the right job, the money will come.”
Invest in what you know. “The way you become a successful investor is by investing only in what you yourself have a wealth of knowledge about.”
Save your money. If you look at China, Japan, Taiwan, Korea, Singapore and Hong Kong, they all have a very high rate of savings and investing. Americans have spent their savings and as a nation are in debt.
Invest in foreign currencies. “I mainly own commodities and currencies now, and gauging the political winds, I look for more turmoil in the currency markets. For the smart investor, many more opportunities will emerge there.”
He also makes such points as to open our borders to allow a more creative, moving economy.
However bleak the picture for the U.S. economy, Rogers suggests investing in U.S. agriculture because we still have so much open space and shale gas and oil. He also suggests, “Change the tax system, change the education system, institute health-care and litigation reform, and bringing the troops home” as a way to turn around the us economy.
His final words are a true American maxim, “the only real failure is not to try, the only improper question the one unasked.”
Rebecca Schwarz is in a state of constant awareness of just how amazingly glorious this existence can be on a small island in the middle of the Pacific. Monday mornings, early morning runs, channel crossings, belly laughter and her nieces are some of her favorite things. Sweet potatoes, kale and beets make her heart happy. She is contemplating filling her plate too full with the endless amounts of things to do in this life. If you want to try your luck put a note in a bottle and hope that it reaches her, or email her [email protected]
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Ed: Bryonie Wise