Welcome To Wisdom in Action. Wisdom from the action. Freedom in expressing expression !! this Wisdom is freedom in expressing expression, definitely in the positive, hopefully useful for Us
Monday, November 22, 2010
Financial Mistakes You Don't Want Your Kids to Repeat
From the Dollar Stretcher.
"You Bought Junk You Didn't Really Need - "Retail therapy" is not a prescription from your psychiatrist. Teach your kids to ask themselves the following questions before they buy: Do I need it or just want it? It's good to separate those two. You will be surprised how few fit into "need" and how many are just "wants." If I want it, how bad do I want it? Is it worth seven times what it costs? That is what a single dollar is worth invested at 10% return in 20 years.
Your One River Ran Dry - We live in the era of entrepreneurship. Regardless of the job or business your kids choose, they should be involved in generating multiple streams of income from a variety of enterprises.
Your House is Bigger Than Your Wallet - Mortgage companies use a calculation to determine if you can afford the mortgage payment, it is called Debt-to-Income ratio (DTI). This is one of the numbers that became too "flexible" over the past few years, allowing people to get into houses they couldn't really afford. This is also their standard and doesn't have to be your kids' standard.
You Exposed Your Eggs - How many times have you heard you need to have a diversified investment portfolio? Well, do you? Even though that mantra has been repeated throughout our financial culture, most people are 90%+ invested in a single asset. Teach your kids not to do this. They need to be aggressive in earning money and conservative in keeping it.
You Didn't Grow Your Money Tree - The most important investment you can make in securing your long-term financial viability is the investment in you and your personal development. In these fast-moving and ever-changing times, the degree on your kids' wall is marginalized within a few years. After graduation day, learning should not only continue, but accelerate. It will be your kids' continual growth and development that will make them financially secure and viable in the future."
Regarding that one river of income: Here's an article on How to Fire-Proof Your Job.
-
4 new cryptocurrency launches to invest before 2023: orbeon (orbn Best coins to buy today 29 october - If you are looking for d2t crypto news you've came to the right page. We have 35 d2t crypto news like Best crypto to buy today 24 november, Daftar coin b...
-
Ford Mustang Owners Association - A non-profit organization dedicated to the preservation, care, history and enjoyment of ALL model year Mustang, Shelby, Boss, Saleen, Roush, SVT Cobra, Mus...
-
Transformasi Drastis Kontestan Miss England - Mike Hussey is to miss Australia's tour of England and Ireland due to the premature birth of his fourth child. Miss England Semi Finalist Simran Gill is on...
-
adBrite CrunchBase - adbrite is the largest independent advertising exchange, focusing on display and video. adbrite first started taking advertising for external sites in 2003...
-
Scott Walker Scores Judicial Appointment for Out-of-State Political Supporter - As Wisconsin leads the nation in job loss, having shed jobs every month since his draconian budget was signed into law, Scott Walker is working hard to mak...
-
Earn Mentari Shared Ambition - Evening sky began to dim replaced during the night ends with all the decorations in space illuminate the earth Pieces of memories of the past of a failure ...
-
Last Word To Childhood - Ice-cold fear has slowly decreasedAs my bones have grown, my height increased.Though I shiver in snow of dreams, I shall neverFreeze again in a noonday ter...
-
Tahereh Saffarzadeh - Tahereh Saffarzadeh (Persian: طاهره صفارزاده , 1936 in Sirjan, Kerman Province, Iran – October 25, 2008 in Tehran, Iran) was an Iranian poet, writer, trans...
-
Islam in the Soviet Union - The Soviet Union was a state comprising fifteen communist republics which existed from 1922 until its dissolution into a series of separate nation states i...
-
-
-
-
-
0 comments:
Post a Comment