Some articles that caught my eye this week…
Everybody has been feeling the pinch from the prices we have been seeing at the pumps this past month. They are the highest we have ever seen this year. The good news though is predictions are that prices should be coming back down over the next few weeks.
Frightened by the drops in the market in recent years, many people have turned to “safe” investments like CD’s. The problem is there is more than one kind of risk. There is a risk that is associated with being too conservative. If you don’t earn enough to outpace inflation and taxes, you are losing money the same as if you owned a stock that went down in value.
The TV image of a “millionaire” conjures thoughts of private jets, secluded mansions, and vacations to exotic locations. The real truth is most millionaires actually live a much more frugal lifestyle. That’s how they got to be millionaires. The basic premise of Tom Stanley’s book, The Millionaire Next Door, is your next door neighbor could be a millionaire and you might never even know it. If you want to have more money, then it’s a good idea to look at what people who have already obtained it do and follow their example as opposed to a highly hyped TV image that has little to do with reality.
One of our most important responsibilities as parents is helping our children learn the skills they will need to be responsible adults.
It is very easy to look at athletes and the crazy salaries they make and say “If I made that kind of money I wouldn’t ever go broke!” Here’s the thing, the same issues that cause athletes to go broke are often the same things that keep Joe Average broke. Joe just does it on a much smaller scale.
Fun link of the week:
I always find these kinds of articles amusing.