Working Hard vs. Working Smart

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A question was asked in a Quora forum recently to which I just had to reply.

The question was: Poor people work hard every day. What is the difference between a poor and a wealthy hardworking person?


My answer was succinct:

“In a nutshell, wealthy hardworking people learn how to make money work for them. Poor people are always having to work for money.”

This means they can stop working so hard, long before the hardworking poor. Or, at the very least, get to CHOOSE how they want to work.

I think the best way to explain this is with a real-life example.

What I do in our Precious Metal Investing Service is to exchange fiat currency for silver and gold. This is just an example! I am not saying it is the ultimate answer. I’m just making a point here – an example of how you can make money work for you rather than the other way around.


Let’s say it like this.

On January 1, 2020, a $1 dollar bill was worth $1. But 364 days later, on Dec. 31st, 2020, it was only worth .92. It lost 8%.

In contrast, my one dollar’s worth of gold that I had on January 1st was worth $1.28 by the end of the year.


My January 1st dollars’ worth of silver was worth $1.25 by Dec. 31st.

These are factual figures.

If I had merely changed the form of the money on January 1st, and did NOTHING else, I would have made at least $2,500 on a $10,000 investment in precious metals in 2020.

Now, if I had, as so many were taught to do by our grandparents, patted myself on the back by putting my paper money in a savings account – which is like .5% interest growth, if you are lucky – in 2020 you would have made $50 in interest and lost $800 due to inflation. . .so a net loss of -$750. Just a single example of money working for YOU.

But, you should always do your research…like the weather, the various money markets are shifting all the time. Good research is key to making money work for you.

In our precious metals investing service the bulk of my time is on educating members on just these two practices: 1) Learning how to do smart research; and, 2) Smart investing where money works for you.

And, frankly, I am often disappointed at some of the reactions from people even about the topic just in general.  There is a sort of huffiness about Money as a topic. Like money is evil, or inappropriate to talk about, or is made out to be too important. Those notions are all off track. In my realm of money endeavors we discuss matter-of-factly about the good practices as well as bad ones. No one is saying, LIFE IS ALL ABOUT MONEY, nor am I denying evil things can be done with money. Evil things can also be done with a butter knife!

Life is hardly about money. Life is about problems…just one damn problem after another, isn’t it? You can call problems ‘decisions’ if you like, but whatever, life is like a Pez dispenser of problems and decisions – they are coming at you all day long, aren’t they? Now, some are fun, like, ‘Mmmmm, the Bahamas or Miami for vacation this year?’ and others are like, ‘How am I going to pay the rent?’

Money is simply a very important tool. It is an obstacle remover. And obstacles are often what keep you from being happy.

This is another topic for another time, but I have always been amazed at how our educational system neglects teaching kids about money management. We send kids to school to learn how to be successful in life, right? [What would be the other reason?] And if that is our goal for them, why on Earth are we not teaching and discussing money management from grade one???

Thanks for reading!

Til next time,



Precious Metal Investment Group



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