Day 10: Fact!
McDonaldâs makes more money from its real estate holdings than selling burgers. Itâs essentially a property empire with fries on the side.
Day 9: Which country produces the most gold annually?
A) Australia
B) South Africa
C) China
China is the worldâs largest producer of gold, consistently leading global production with approximately 370 metric tons annually. Its vast reserves, advanced mining infrastructure, and policies encouraging domestic production have secured its top position in the gold industry.
Day 8: Fact!
The Bull and Bear Origins: The terms “bull market” and “bear market” originated from how these animals attack: bulls thrust upward, bears swipe downwardâa metaphor for market movements!â
Day 7: What is the 50/30/20 Rule?
A) Budgeting Method
B) Workout Routine
C) Cooking Recipe
The 50/30/20 rule is a budgeting guideline that suggests allocating 50% of your income to needs (like housing, utilities, and groceries), 30% to wants (like dining out and entertainment), and 20% to savings and debt repayment. This simple framework helps ensure a balanced approach to managing finances while prioritizing essentials, lifestyle flexibility, and financial goals.
Day 6: How much money would you need invested at a 5% annual return to earn $1,000 per month in passive income?
A) $120.000
B) $190.567
C) $240.000
Answer: $240.000
Day 5: Which country has the largest sovereign wealth fund in the world?
A) Norway
B) Saudi Arabia
C) China
Norwayâs Government Pension Fund Global, often referred to as the Oil Fund, is the largest sovereign wealth fund in the world, managing over $1.7 trillion in assets. Funded by Norwayâs oil and gas revenues, it invests globally to secure long-term wealth for future generations while promoting responsible and sustainable investment practices.
Day 4: How many months of expenses should be in your emergency fund?
A) 1-2 months
B) 3-6 months
C) No emergency fund needed
The answer is 3-6 months. Read about it in my blog post “Why you need an emergency fund”.
Day 3: Fun Fact!
If you saved $10,000 every day since the birth of Christ, you still wouldnât be as rich as Elon Musk.
(Thatâs over $7 billionâMuskâs net worth is much higher!)
Day 2: What is the rule of 72?
A) How to calculate retirement age
B) How long it takes your investment to double
C) A rule for minimum wage
The Rule of 72 is a simple formula used in finance to estimate the time it takes for an investment to double in value at a fixed annual rate of return. By dividing 72 by the annual interest rate (as a percentage), you can quickly approximate the number of years needed for the investment to grow twofold.
Day 1: Which billionaire once went bankrupt?
A) Elon Musk
B) Walt Disney
C) Jeff Bezos
In 1920, Walt Disney‘s first business, Laugh-O-Gram Studio, went bankrupt due to poor financial management and an inability to cover production costs, despite producing several short films. This failure forced Disney to move to Hollywood, where he eventually founded the Disney Brothers Studio (later The Walt Disney Company), setting the stage for his later success.
Mr. Financial Freedom
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