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Want to sell a product or service? Crank up the FEAR! In financial planing, two phrases come to mind involving fear:"We have nothing to fear except fear itself"and"Fear and Greed are the two forces which drive the market"The...
Thursday, October 15, 2009
FEAR - the least useful emotion
Labels:
budgeting,
economics,
fear,
psychology
Monday, October 12, 2009
RVing on a Budget
Our current lashup is this 17-foot Casita, towed behind a BMW X5. It is small, economical, and easy to tow. However, you don't have to go this small to RV on a budget! A friend of mine bought an RV this year,...
Gaming the System
One aspect of our financial system is that it is supposed to be designed to reward people financially for making good decisions, working hard, and providing good service.That's the theory, anyway. Oftentimes, in reality, it doesn't work that way.The problem arises when people game the system. What does this mean?In any system of rewards and punishments, the goal of the system is to encourage people to behave in a manner that...
Sunday, October 11, 2009
Pride Goeth Before The Fall...
Above - my 1948 Willys Jeep being sold. A lot of fun, but when you're done, you're done. Time to sell it.* * * *Pride goeth before destruction, and an haughty spirit before a fall. Prov. 16:18Pride can be a very destructive force...
That Awkward Age
For many folks, the phrase "life beings at 40" rings true. 40 was a good year for me. I was finally starting to make some money, I had my own business going fairly well, and it seemed that I had started to figure out how life works.Those were good years, but they didn't last all that long.The next stage in life is somewhat more disquieting, and myself and a number of my slightly older friends are going through it right now.Having...
What is your NET WORTH?
What is your NET WORTH?"Trusts & Estates" is one course that I took in law school that really opened my eyes about finances (tax law being the other). While reviewing the various cases, and hypotheticals, the professor would always start by saying "The deceased left an estate of $500,000" or some other amount.This got me thinking about my own "Estate". At the time, I was a law student living in a rented apartment. I had...
Saturday, October 10, 2009
Do you need LIFE INSURANCE? Yes, No, and Maybe
Do you need LIFE INSURANCE? Yes, No, and Maybe.Should you buy life insurance? Why? and Why not?Over the years I have bought a number of life insurance polices - term life, whole life, adjustable life, variable life. Some are a basic insurance policy - a bet that you will die - and a means of protecting loved ones should you die prematurely. Others are investment vehicles of varying degree and usefulness. The following comments...
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