Your current situation and your future are two different things. Saving money requires thinking ahead. If you are in college right now, or are otherwise just starting out, this post is for you. I was just out of high school around the time this arrest photo of Bill Gates was taken, one of several arrests in the late 1970s. He was already successful, but probably had no idea of just … [Read more...]
Wealth is Not What You Possess – Part 3
Wealth is the ability to independently make lifestyle choices in accord with one’s needs, values, and goals, and do so in a way that provides for survival, security, freedom, and the opportunity for successful achievement of one’s chosen goals. As discussed in the last article, trade-offs between lifestyle and income determine your ability to save, and the ability to save is a means to reach … [Read more...]
Wealth is Not What You Possess – Part 2
The lifestyle choices we make determine our spending, and they really matter. What you earn is important, but how you spend is just as important. Second of three in a series. The lifestyle choices we make determine our spending, and they really matter. As detailed in the last article, the apartment or home you live in, how you travel, and what you spend on food, are the most important. According … [Read more...]
Wealth is Not What You Possess – Part 1
Wealth is not how much material things you possess. Wealth means having what you need when you need it. Before considering wealth or even saving, consider your chosen life and lifestyle. First of three in a series. Why do we work, earn, spend, save, and invest? Did we choose a particular lifestyle because of what we earn, or did we earn the amount needed to live a particular lifestyle we have … [Read more...]
Where Do I Put My Cash?
In our zero-interest-rate policy world, "Where do I put my cash?" is a frequently asked question. According to Bankrate.com, average savings and money market accounts are yielding only 0.47%. That's right...less than half a percent. Let's compare that to inflation. According to the Cleveland Fed, their forecast for ten-year inflation calls for an average rate of 1.82%. This means cash … [Read more...]