In this week’s Money Tips Podcast:
Silver reaches 14 year high amid global economic slowdown, wars and Trump tariffs.
Silver to Gold ratio narrows as nations like Turkey, China and India hoard more Gold.
Gold overtakes the Euro as preferred reserve currency.
Should you hold gold and silver as part of your portfolio? To learn more Check out my SMART MONEY COURSE - https://bit.ly/4klq0mv
World Bank forecast lowest growth rate for the decade since 1960s.
Rachel Reeves on massive spending spree, while business confidence and jobs plummet.
Where is she going to get the money from? Taxpayers and businesses, us!
UK economy declined in April, as growth stagnates.
Job vacancies and recruitment falling, as higher taxes drive business away.
See Smart Money Is Moving East – Is the UK Finished? - https://youtu.be/_5jK8oHuj8o
What can you do to secure your financial future in this changing world?
Could Japan’s debt crisis cause a worldwide recession?
The more money I made the less I had.
Al Pacino, legendary Hollywood actor
Despite earning millions from hit movies such as The Godfather trilogy, Scarface and The Scent of a Woman, Al Pacino was almost broke TWICE at the height of his fame and fortune.
Living “high on the hog”, spending $3-400,000 per MONTH!
Flying private jets and renting a huge house in Beverley Hills for 20 years!
He once flew his family and nannies on a private Gulfstream 500 to London and took an entire floor at the Dorchester.
He left his finances in the hands of a crooked accountant to the celebrities, who was later sentenced to seven years in jail for running a Ponzi scheme.
Pacino loved acting but admits that he was not paying attention to his finances and failed to invest.
In his book, Sonny Boy, he said, “I would give money away because I had it” and “it didn’t feel real, but it was, as I later found out”.
“The amount of money I was spending was so f****** crazy, a montage of loss” the Godfather star added.
Pacino said when you make $10 million dollars for a movie you don’t get $10 million dollars. After lawyers, agents and the government take their share you end up with around $4 million.
His living expenses alone were at least that amount before he put his own cash into arthouse films which made no money and in many cases were not even distributed.
Things were out of control as his staff and expenses expanded.
He owned two cars, but was paying for sixteen, along with multiple cell phones, salaries and a $400,000 a year for a landscaper on a house he didn’t even own!
The list goes on and the star wasn’t even signing his own cheques and his money was draining out faster than a leaking pipe.
Hangers on took advantage of Pacino’s generosity as his staff and expenses eventually grew beyond his means.
He said, the more money he made the less he had!
What can we learn from Pacino’s mistakes?
You don’t have to be a movie star to experience the same issues.
Managing your money is important whether you’re making $100,000 a year or $100 million!
Check out my SMART MONEY COURSE - https://bit.ly/4klq0mv
As Warren Buffett said, financial education is the key to building wealth. It’s the stuff they don’t teach you in school.
Learn how to build and protect wealth.
Learn how to manage your money.
Learn how to invest in assets rather than losing money by lending it to the banks.
Learn about the invisible taxes like inflation which is eating up your savings.
Learn about Gold and Silver, the only real money.
I teach this and much more in my SMART MONEY COURSE – check out the link below:
Join my SMART MONEY COURSE - - https://bit.ly/4klq0mv
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