Credit Rating and Required Rate of Return: Suppose you and Warren Buffett borrow money from a bank. The bank will assess your credit ratings differently. Maybe the bank could offer Warren Buffett a loan without interest since it can be advertised as a bank used by the renowned investor. However, it will likely charge you interest because you have a lower credit rating and less fame than Warren Buffett. The interest rate each borrower faces, based on their creditworthiness, is called the required rate of return for creditors. Under the same conditions, the cost of poverty is much higher for the poor than for the rich. Poverty inherently involves costs. - Joseph’s “just my thoughts”
If you don’t know your identity , you also don’t recognize the power given to you, nor do you know when to use it. It is only because of who I am that I understand where I stand and what power I possess. Identity determines what I should do. If you don’t understand what to do, you don’t know when and what power to apply. Identity is not fixed; it develops or evolves according to circumstances and times. Therefore, identity is an attribute that one should constantly examine. - Joseph’s “just my thoughts”