Understanding the Time Value of Money Is Important

Posted on November 4, 2010 - Filed Under Success Tips Articles | Leave a Comment

I have often mentioned the importance of keeping up with your spending and categorizing expenditures as necessary or unnecessary. Most people have no idea how much they spend on things like beer, cigarettes, candy, lattes, lottery tickets, and other frivolous expenditures. They may also spend excessively on dining out, clothing, electronic gadgetry or other such items. The fact is many people waste so much on unimportant and unnecessary spending throughout their lives that they end up with a meager, get by, existence later in life.

Read More..>>

What Every Student Should Know Before Graduating High School

Posted on October 7, 2010 - Filed Under Success Tips Articles | Leave a Comment

When young people graduate from high school they are young and naive, especially when it comes to knowing how the real world works. Some will continue their education in college or technical schools, but many will enter the workplace feeling ten feet tall and bullet proof. Their zeal and enthusiasm for life will have them looking into the future and visualizing themselves living in a comfortable home, driving a nice car and prospering financially. Unfortunately, by age 30, reality sets in and outlooks change…unless they understand and follow a simple lesson from Economics 101.

Read More..>>

Current Conditions Dictate Lifestyle Changes For Many

Posted on September 14, 2010 - Filed Under Success Tips Articles | Leave a Comment

According to a recent study by Ernst & Young LLP, nearly three out of five middle class retirees will outlive their financial assets. The report, conducted on behalf of Americans for Secure Retirement, found that of those who have only Social Security as a guaranteed retirement income, over 90 percent will outlive their financial assets. That’s a frightening statistic for Baby Boomers who are now beginning to retire.

Read More..>>

Bigger Government Will Not Produce Economic Prosperity

Posted on August 3, 2010 - Filed Under Success Tips Articles | Leave a Comment

As election season approaches, I’m sure we will be mesmerized by all the promises candidates will be making. If they could do half of what they claim, we’d be taken care of from the cradle to the grave and never have to worry about taking personal responsibility for ourselves. Maybe it’s because I’m from an older generation, one that didn’t expect government to handle all my problems. In fact, I never wanted government to take care of anything for me. I considered it my responsibility to care for myself and my family.

Read More..>>

America Needs A Good Dose Of Economic Castor Oil

Posted on July 6, 2010 - Filed Under Success Tips Articles | Leave a Comment

The stock market is in chaos, banks and insurance companies are failing and there’s plenty of talk about sub-prime loans and mortgage backed securities. With talk about derivatives, libor, GSEs, and more, who can expect average working people to know what’s going on? Every time you turn on the television news or pick up a newspaper, there are stories about how the economy is taking a beating. It brings to mind the old fable about Chicken Little claiming, “The sky is falling.” Granted, the financial structure in this country is extremely complicated and can’t be taken lightly, but just as from a tiny acorn, a mighty oak tree grows, there has to be a seed from which our current mess has grown.

Read More..>>

Real Estate Is The Name, Wealth Building Is The Game

Posted on June 8, 2010 - Filed Under Success Tips Articles | Leave a Comment

Real estate has gotten a bad name recently. If you talk to people on the street, they will tell you that real estate is in the tank; that it’s not a good investment. Then if you ask, “What is the best way to build wealth?” You’ll get a hesitation before most of them will tell you that over the long term, it’s with real estate investments. Then comes the fun part! Ask them to define wealth. You’ll get a hundred different answers.

Read More..>>

Why Little Johnny and Mary Struggle Financially As Adults

Posted on May 4, 2010 - Filed Under Success Tips Articles | 1 Comment

Another school year is almost over and millions of young people have sat through classes that focus on how to get a job, but fail to teach them how to handle the money they will earn. As a result the vast majority will go through life struggling to make payments on debts they probably wouldn’t have if they were taught how to manage their money and avoid the devastating effects of consumer debt. I don’t fault the teachers, I blame the system.With all the money spent on education, why is it so rare to find high school graduates who know anything about consumer mathematics? We turn out students who can plot the course of a rocket to the moon, but can’t balance a checking account, reconcile a credit card account or know that loan payments consist of principal and interest. Why is so much emphasis placed on preparing young people for college and so little effort made to teach them how to prepare a budget, pay bills and run a household?

Read More..>>

Profit Is Made When You Buy Real Estate

Posted on April 5, 2010 - Filed Under Success Tips Articles | Leave a Comment

You can’t call yourself a real estate investor if you have to sell to make a profit. Buying real estate as an investment to provide income is an art not practiced by many who call themselves investors. Keep in mind, if you have to sell a property to make a profit, it’s not an investment, it’s a speculation. And, as all speculators discover, sooner or later you will get burned. That’s a fact that many people are now learning the hard way.

Read More..>>

A Personal Escrow Account Can Provide Peace Of Mind

Posted on March 2, 2010 - Filed Under Success Tips Articles | 1 Comment

For most people with a home mortgage, their monthly payment includes an amount that is placed in escrow to pay taxes and insurance. This forces borrowers to set aside a portion of these annual payments each month so they aren’t caught short when the bills come due. It protects both the lender and the borrowers. It is a concept that could be used by nearly everyone to avoid having to go in debt when large annual or semi-annual bills come due.

Read More..>>

It’s Time To Track Your Spending And Change Your Life

Posted on February 2, 2010 - Filed Under Success Tips Articles | 2 Comments

A couple of years ago, I wrote an article about the different individuals I had observed by hanging out in several convenience stores and watching their spending patterns. There was a major difference between those who were obviously wage earners and those that appeared to be executives or professionals. A far greater number of the wage earners came into the store to pay cash for the fuel they put in their vehicles and many would only put in $5 – $10 rather than fill up. On the other hand, nearly all of the executive/professional types paid at the pump with credit cards.

Read More..>>

« go backkeep looking »