Most of us is familiar with the legendary goose that laid the golden egg. According to history, a particular goose is discovered to have the ability to lay eggs of pure gold. For obvious reasons, it is desirable to OIE rises as its history is spread. Ultimately, the desires of people overcome their ability to reason and goose is cooked, in a manner of speaking. The story illustrates the concept of people's wealth comes from an external source.
In a blow of eye, this seems true and correct. Many of us rely on our jobs and income. This certainly seems to be a source of wealth for the external individual. Many of us, independent professionals, have customers that rely, and this too appears as an external. Winners of the lottery even rely on the lottery as being this external supply of income.
This dependency on external sources of income and revenue can be a cause of stress. We do not in full possession of which is so important for us: our income or income stream. We could reprints or employment. We can not able to find a new one. Our customers can decide to move their business to a competitor, and we will not be able to find replacements.
These threats can be very real and intimidating. Or to put another way, the well-being of the OIE seems very important to that of our own, but with what is under the control of someone else.
A more thorough review, we find that while OIE is golden eggs, it is really value creation. Through its magic, it creates something that improves the lives of its owner. These golden egg allow such a person lucky to do and to have things, without eggs, is not possible. It creates the value, not only money or wealth.
Stock of the OIE is already dating! It is not surprising that many long for it. It represents not just golden eggs, but all these things that we desire to acquire in exchange for eggs.
And so off the coast, we are going for our own geese: well-paying jobs, rental properties, graduate business degrees and so on. As I have pondered this notion, however, I found something rather ironic. In a world of value creation, our goose is not really not there. My view on the research through the prism of the value that each of us is, in fact, our own goose. We are all at least have the ability to lay golden eggs, to create genuine value. And it is in this sense, that we control our own wealth, life and destiny.
The value is a word that we hear often: it occurs in many different contexts. But that is it really? And more importantly, how is value created and developed? It's useful answer questions really, because it is the value which determines to a large extent of the quality of our lives. Our value to the world that prepares us the ground for what is to be returned to us under the form of money, love, gratification and the peace of mind.
As a starting point, I set the value as the final State resulting from a product, service or process that fills a genuine and legitimate need want, improves and gives us as people or improves our circumstance.
What are some examples? Certainly the necessities of food, clothing and shelter are in the category of true and legitimate needs. Many consumer items we buy comfort or pleasure, as TV.s, electronics, cars, jewelry, fulfill our desires.
In addition, do not forget first, basic materials and components used in the production of other end products. Think of building materials, parts, automotive, computer chips and so on. For after the legitimate needs of these components and materials, as well as the effort required to collect or to refine their, they themselves have an intrinsic value.
There are a number of service providers in our lives and the world. Health care providers are a relevant example of people who provide a service that fills a genuine need and legitimate. We can also include other professionals such as CPA.s, lawyers and investment advisors. It should be added the condition that they provide a desirable too and tangible result. In these examples, the result is guidance and useful, relevant and good advice.
This should be included here because some professionals simply go through motions of the delivery of their services without obtaining a tangible or desirable result at the end.
Some time ago, I had worked on my Masters degree in Counseling, essentially to become a therapist. I couldn't help but notice that, despite some other students who had worked with clients for many graduate months, some signs of progress have been posted. A service was provided with no concrete results are obvious. In my mind, this has little or no value.
For a simple example, consider the auto mechanic who works on your car, but ultimately does not correct the problem. He went through the motions of the provision of its services, but failed the tangible and desirable outcome. Yet again, no value is delivered or created.
Many institutions of life have value. Take for example the marriage. Of course, there is a financial benefit to cost-sharing, two incomes and so on, but there is also a tangible increase and desirable quality of life in the forms of companionship, intimacy, undertaking joint and so on. Family under the form of siblings, in-laws results and children, an extension of the concept of marriage. Live in a strong community is yet another extrapolation of the family and marriage. Where we would be without effective governance?
Institutions that provide education must also be included: schools, colleges and independent institutions such as the Van, Nightingale-Conant and Brian Tracy International Tharp Institute all will give us the tools we need to become more capable, better humans. They enable to contribute to society to a large extent and in different ways that we could have done otherwise, allowing ourselves, both those around us profit and prosper.
Correctional institutions even have a value. If nothing else, they are that much safer society. They improve the circumstances of law abiding citizens. These examples show that not all manifestations of the real value can be, or even should be, financially quantified.
Paul Kluskowski is a financial manager for TR finance with offices in Washington DC and Hastings, MN. He has written extensively on finance, investing, economics and personal finance. He has deep expertise in production and consumption of energy in the world. On its Web site and blog, http://MyMarketFriend.com, Paul invites investors to ask questions and discuss market trends and the economy.
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