recentpopularlog in

jerryking : savings   8

Video - Five Things Rich People Know That You Don't, General Strict Financial Discipline - WSJ.com
(1) Start early. RRSP Save, save, save.
(2) Automate set up automatic payroll contributions to feed retirement funds
(3) Maximize those contributions. Save like you mean it.
(4) Never carry credit credit card balances. Pay off credit bill every month.
(5) Live like your poor. Rein in spending habits. Stay away from the mall. Unsubscribe from retail e-mails.
web_video  high_net_worth  wealth_creation  personal_finance  frugality  habits  self-discipline  savings 
july 2014 by jerryking
The Education of a Financial Columnist
November 17, 1998 | Wall Street Journal pg. C1 | Jonathan Clements

* Investing is 90% emotional
* Without good savings habits, there is nothing
* You shouldn't invest in a vacuum --non-financial decisions (e.g. about one's health or relationships) can have a financial impact
* There are no gurus
* Churn and get burned
* Diversification is a fair-weather friend
* Risk is in the eye of the beholder
personal_finance  investing  economizing  diversification  Jonathan_Clements  habits  churn  savings  psychology  risk-preferences  risks 
december 2012 by jerryking
Nine Ideas To Help You Live Beneath Your Means And Get Started On The Road To Riches
December 29, 1998| The Wall Street Journal |By Jonathan Clements.

Here’s how:

Maximize your income
Live beneath your means
Religiously save the difference

Bear in mind, this is no small feat. (As Errol Flynn once said, “My problem is reconciling my net income with my gross habits.”) For most folks in our upwardly mobile society, living beneath their means provides a major challenge. But, trust me, a comfortable retirement without sufficient income is a bigger one.
personal_finance  ideas  wealth_management  self-control  self-discipline  economizing  Jonathan_Clements  savings  frugality  retirement  income 
december 2012 by jerryking
DeForest B. Soaries Jr.: Black Churches and the Prosperity Gospel - WSJ.com
OCT. 1, 2010 |WSJ| by DEFOREST B. SOARIES JR. Traditionally,
black churches emphasized spiritual renewal, social justice, educational
uplift, community improvement & civic engagement in addition to
individual achievement. That the church was the locus for community
& personal advancement made it a powerful force for hope &
survival. Leaders like the late Dr. Samuel Proctor, pastor of the
Abyssinian Baptist Church, emphasized religious & secular education
as keys to economic progress. Proctor & others like him produced
strong institutions, not just a few fabulously wealthy individuals.
Given today's weak economy, the prosperity movement might consider
focusing on financial literacy, personal discipline & saving for the
long term, rather than emphasizing supernatural possibilities.
Depending on miracles as a financial strategy is a dangerous way to
live. Churches can be effective in teaching people how to convert from a
culture of borrowing & spending to a culture of saving &
investing.
African-Americans  churches  leadership  institutions  savings  financial_literacy  pastors  self-discipline  investing  weak_economy  prosperity_gospel 
october 2010 by jerryking
The 15 Minutes that Could Save Five Years
June 16, 2010 | Harvard Business Review | by Michael Schrage.
We're facing the end of retirement as we know it — an emerging
unpleasant reality that will (re)shape the quality of life and standard
of living for billions. we all need to start dealing with it.
Now....Forget the "saving for retirement" shibboleths. Strategically
addressing those 60+ months after age 65 may be the most significant
long-range planning investment in your human capital portfolio....Who
are the 70+ year olds whose presence, energy, and effectiveness might
profitably serve as the benchmarks for your own?
invest_in_yourself  Michael_Schrage  retirement  HBR  personal_finance  aging  human_capital  role_models  Kauffman_Foundation  Zoomers  long-term  shibboleths  savings  planning  myths  strategic_thinking  JCK  endgame  Second_Acts  long-range 
june 2010 by jerryking
Deep in Debt, and Now Deep in Worry
January 24, 2009 |New York Times| By BEN STEIN
Advice about money: do not act like typical Americans. Do not fail to
save. Do not get yourself in debt up to your eyeballs. Work and take
pride and honor from your work. Learn a useful skill that Americans
really need, like law or plumbing or medicine or nursing. Do not expect
your old Ma and Pa to always be there to take care of you. Learn to be
self-sufficient through your own contributions. “Be prudent.”
Ben_Stein  financial_literacy  personal_finance  self-sufficiency  prudence  personal_economy  savings  frugality  debt 
march 2009 by jerryking
Out of the Clubhouse and Into the Classroom
December 10, 2006 NYT column by Ben Stein on how he obtained
the benefit of human capital that privileged young Americans get from
having smart, well-educated parents who get them interesting,
educational jobs that also offer great personal connections....Now I know that some of my readers are waiting for me to say we should tax the rich more to pay for better medical care for the folks without insurance — and we should. But I am not going to say we that should tax the rich more to pay for better education for the non-rich. It is clear beyond doubt that more money spent per pupil does not necessarily offer better results per pupil. So not every answer is “tax the rich.”

BUT the rich know something. They know how markets work. They know how to get from nowhere to somewhere. They know what kind of work ethic works. They know what savings means. The rich of this country often — not always — know how the world works, as far as money is concerned. They are a vast reservoir of advice and example for how to get ahead.

I wonder if there is a way that these people can be brought off of the fairways of the nation’s country clubs and put before the students of America to tell them how the world works and how to make their way in it. Yes, I want to tax the rich more for military pay, to try to close the deficit, to rebuild the military equipment of the nation. But maybe the rich can offer their minds and their skills to the non-rich, too, to teach them the way up.
Ben_Stein  Communicating_&_Connecting  high_net_worth  human_capital  movingonup  networking  networks  personal_connections  savings  social_capital  sophisticated  work_ethic 
january 2009 by jerryking

Copy this bookmark:





to read