1. Buy a house. Or two. Or more.
If you know you're going to be living in or near
a certain community for five years or more DON'T RENT. Do whatever
it takes to buy a house. If you have kids in school or are about
to, find the best PRIVATE school you can, shop for a house near it, and
scale down the house budget to compensate. There's NO house important
enough to risk destroying your kids' future by putting them in government
schools (unless you live in New Trier Township, perhaps).
2. Understand Compound Interest
(NOTE: I am not involved in any
investment offerings made or religions extolled in this section; I
just like their comments on compound interest. And yes, one can
be kind, benevolent
and
successful
without being a mystic.
More likely, in fact.):
| WANT TO BE A MILLIONAIRE? by Selena Maranjian | ||
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MAKING
GREAT
DECISIONS IN BUSINESS AND LIFE by David R. Henderson and Charles Hooper |
How to become rich by Dr. Walter Williams
How to be a Millionaire through COMPOUNDING
Tapping the Power of Compound Interest by Stephen Moore
A Nation of Millionaires by Robert J. Genetski
Rich Man / Poor Man by Richard Russell
The Magic of Compounding by Harpreet Sandhu
Calculating the time required to use compound interest to accumulate a specific amount
How much money will I will have in 29 years if I save $120 per month at 15 percent annual interest?
Compound Interest in Bank Accounts
How
PAYING Compound Interest can destroy you
-- Another
example of that --
Comments on Retirement Planning Calculators
How much have you been losing in your retirement plan?
Watch Out Kids, Someone is Going to Steal $3 Million From You
Compound Interest Rate Calculation...Southland Funding
What is compound interest? What is continuous compounding?
The formula(s) for calculating interest compounded annually, daily, and continuously
There is a famous "Rule of 70" for compound interest. What is it and why does it work?
Savings, Retirement and other Calculator Software
| Credit Card facts |
| Cardweb - low-interest credit cards |
| Credit Card Goodies |
| managing debt & credit |
| Borrowing rule NUMBER ONE:
Never, never, EVER borrow to buy ANYthing that takes more than 45 days to pay off until and unless you ALREADY have SIX MONTHS WORTH OF INCOME in savings -- and can still maintain it if not grow it -- FIRST. |
Raising venture capital privately
The best and worst states for taxes
The Four Ways to Spend Money, excerpted from Free to Choose
Understanding the Nature of the Enemies of the Opportunity Environment
Maintaining the Opportunity Environment for Your Kids and your Grandkids as well as yourself
Realize it takes dedication to a specific craft to achieve pride, professionalism and a reputation. For example, it took Al Hirschfeld umpteen hours, and often several days, just to create ONE of his famous stylized caricatures. THAT's what it takes to do ANYthing well. Find something you love, develop it, hone it, and do it. Over and over again.
| "The only germane argument concerning equities vs. fixed income, which must be explained and re-explained, is that over the entire run of data (1926-present), the average annual return to equities has been 10.4%. That's not a projection or an expectation, that is the actual live average annual return. If funds are invested with a long term horizon (at least 10 yrs), the investor has an excellent chance to average this sort of return and virtually a zero chance of failing to beat the current Social Security expected return (such as it is). There have been only 2 periods longer than 10 years that have generated negative returns (1929-1942, -1%; and 1930-1942, -0.4%). The longer the funds are invested, the greater likelihood the expected return will be reached on an overall average basis. As I constantly remind my clients, the returns in any given year may be positive or negative and, in fact, an allocation may never actually realize the expected return on the button in any single year during the entire life of the portfolio. Discipline and a long term horizon are the keys to positive returns." -- Byron Sanders |
| See: "Why the Tried and True Triumph Over the Old and New." HERE. |