horse statueGood Morning DINKS.  Let me ask you a question… Do you think that having money automatically makes people interesting?  Actually let me ask you a better question, does having money automatically make us powerful?

We have previously discussed the balance of money and power as it relates to a couple in a relationship here on DINKS Finance; but what if you aren’t in a couple.  If you are single and rich are you also automatically powerful?

There is no question that having money allows us to buy the finer things that we want in life. Having money may also allow us to influence certain people through financial contributions.  However, I personally don’t feel that having money makes people powerful.  Maybe people associate having money with having power because a lot of the richest people in North America (and around the world) run large corporations. These are the same large corporations that influence our economy, our society, and the general public.

Who do you think is the most powerful person in our society? Now let me ask you another question…who do you think is the currently the richest person in the world? Were your answers both the same person?

Check out the Most Powerful People according to Forbes:

10. David Cameron is only 45 years old and he is the Prime Minister of the United Kingdom.  He is considered to be powerful because he runs a predominant country.  However David Cameron has recently received backlash from the media for hiring a former employee of the scandalous News of the World.

9. Mark Zuckerberg is the founder of Facebook.  More than 10% of the world’s population use Facebook and I guess this makes Mark Zuckerberg powerful because he has instant access to over 800 million people through Facebook.

8. Ben Bernanke is the Chairman of the US Federal Reserve.  He is considered powerful because he single handily controls the cash flow of the US population.

7. Pope Benedict XVI is not a rich man but it is no secret that the Catholic Church is a very profitable organization. The Pope is only as powerful as people allow him to be.  If people stopped practicing or believing in the Catholic Religion then Pope Benedict would not be powerful.

6. Abdullah bin Abdul Aziz al Saud is the King of Saudi Arabia, he is 87 years old.  He is powerful because he is a rich man in a rich country.  King Abdullah recently allowed women to vote in Saudi Arabia and hopefully this power will have a positive influence on other countries who do not currently consider women as equal to men.

5. Bill Gates is 56 years old and you may know him as the genius behind Microsoft.  As the second wealthiest man in the world we know that Bill Gates is rich, but is he powerful? He has recently been using his millions to create and distribute vaccines for various diseases around the world.

4. Angela Merket is the 57 year old Chancellor of Germany.  Germany as a country is considered to be a very rich economy and Angela Merket is considered to be the most powerful woman in the world.

3. Hu Jintao is the President of the People’s Republic of China.  Notably he is also the Communist Party General Secretary as well as the Commander in Chief. If you are the president of a powerful country and economy are you automatically considered powerful by default?

2. Vladimir Putin is 59 years old and he is the Prime Minister of Russia and previewed to soon be the President. Russia is a very strong emerging economy

1. Barack Obama is the President of the United States and he is listed as Forbes Most Powerful Person.  President Obama is 50 years old and he has desperately been trying very hard to rebuild a country and an economy that took almost a decade to destroy by the previous administration.

Does being powerful mean that we are able to influence change or implement change?

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Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.


This entry was posted in Business by Kristina Tahnyak. Bookmark the permalink.

Avatar photo About Kristina Tahnyak

Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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