http://www.washingtonpost.com/busin...1a0502-564d-11e5-8bb1-b488d231bba2_story.html A must read on handling your financial life, by Barry Ritholtz. Learn and be wise...
Thank you for the post. It's actually a lot more insightful than I thought it would of. It's interesting to see things in the negative, as in what not to do, instead of seeing the usual "this is what you do" lists.
Well it is a tongue and cheek article that's for certain, but it is so right there with the attitude of many people today. On one hand I can't say I blame someone for not wanting to contribute to a 401K during a downturn. It feels so much like throwing good money after bad. I think the other thing that is serious is the whole credit card thing. I have never experienced another system that is so darned if you do and darned if you don't. Credit cards especially can be a fast track to ruin, equally so if you just don't have them. Don't ever be fooled and think that a personal credit rating means nothing. I think no matter what this is an avenue that one has to go down if they want to have full access of the vehicles that open the most financial doors. If there was one thing I learned early on one of the best financial moves a person can do is open a small business and get a line of credit. Responsibility as they say... belongs to the responsible. To bad in this day in age the thought of a safety net is usually someone else's paycheck.
I'll take time to read it out when my mind is in one place ...to be on the safe side, I've bookmarked the page. .
Also, I would add this: 1) Don't worry if your SO is not money wise. Eventually, he will see that he/she is overspending and will start saving; 2) Trust the business magazines the the guru investors. They don't have any secrets and will help you build a fortune for free; 3) Why would you save? Your children are going to support you anyway. 4) You are definitely going to make a fortune from that hot pharma stock. Buy it right now!
Ugh, sites that require an email to keep reading the content ... (insert explicative here) ... but thank goodness for throw-away accounts. Beyond that, I get the tongue-in-cheek style. The part about "Don’t save any money" almost gave me a case of the vapors though; kidding. The details on the 3x5 card at the top were, largely, spot on though. It say sock away more, a lot more if you can, than 20%, but it is a good starting point. Thanks for the link.
Hmmm, I never registered with WAPO. Perhaps the site doesn't sniff either Android or mobile sites. Sorry about that...
No worries. I don't remember seeing that particular site either, but I couldn't get around it today on a Windows 7 box. Doesn't matter, because they got one of my junk email accounts. It is sort of like a fake number à la Seinfeld.
