Archive for September, 2006
Should you have a budget?
Friday, September 15th, 2006You’ll find opinions vary about this - a significant number of people DON’T work out a personal budget. It isn’t just people who have money problems; plenty of folks who save quite a bit, or have a lot of money already, don’t find the need to prepare or live to a budget.
A budget really helps […]
Using the rules.
Thursday, September 14th, 2006Time and regular savings are the foundation of future wealth. How well you make use of these, determines your success.
The best way is to make it a habit. Some advisors call this “Pay yourself First” - make sure you put away money for yourself, ahead of anything else. Typically, contributions to an IRA are the […]
Basic Rule #2
Wednesday, September 13th, 2006From yesterday’s rule #1, there’s a simple conclusion - the longer you allow your money to grow, the more it grows. Quite simply then, the earlier you start, the better.
But that isn’t the only factor involved. Even if you have less time available, you can still hit the magic number. All you have to […]
Basic rule #1
Tuesday, September 12th, 2006Most “how to become wealthy” plans focus on $1 million as a target, for a variety of reasons
It’s a substantial amount of money, even today - far beyond normal annual salaries.
While it is large, it’s do-able for most people. You don’t need to win the lottery, or make a killing - even simple steps will […]
Remembering 9/11 and the World Trade Center
Monday, September 11th, 2006I know this is off topic for us, but it is 9/11. The one date that will always stand out in my mind. It was the Pearl Harbor of our generation. I went to see World Trade Center over the weekend to remind me why we are still in Iraq.
I walked away from the theater […]
New York Woman Hits 1 Million Dollar Lottery - TWICE!
Monday, September 11th, 2006Now I am not a supporter of lotteries. I believe that States put them in place not necessarily to help education, but because they see the massive profits that will be generated. Education and other platforms are merely used to generate support for the lottery with voters.
I have seen with my own eyes, people that […]
Making a killing!
Saturday, September 9th, 2006It’s everyone’s financial dream come true - to get a fortune overnight, with minimal effort. Lotteries, the stock market, dot-com’s - the list of “The easy way to riches” is probably never ending.
It’s tempting, precisely because the alternative seems like drudgery. Skimp and save for years, stay in the land of doing-without, look for ways […]
How much should you save?
Friday, September 8th, 2006That’s the million-dollar question. The answer is that there’s no single correct answer. It depends on what you’re saving towards, what you’re able to comfortably live on, and what other circumstances - windfall or disaster - bring back to you.
That said, there’s definitely a threshold that needs to be addressed. Jessica’s example is a […]
Getting started.
Thursday, September 7th, 2006Sometimes, it seems impossible to get started on building wealth. Especially when you’re young, starting out on life. Typically, after weathering years of student life, college debt, shared rooms and cheap food, the first paycheck seems like a fortune. And the start of the good life.
The only fly in the ointment is that the good […]
Smart … is simple.
Wednesday, September 6th, 2006Many people think that finance and investments are beyond them. It’s gotta be complicated, right? Just look at how difficult it is to become a qualified CPA? As for being an investment analyst, or fund manager - surely the huge paycheck is because it’s so darned difficult to do!
Well - yes and no. There are […]