Tag Archives: investing

Where Do You Fit Into This Picture?

Where do you fit in this picture?

This illustration is brilliant. It’s an example of truth, being honest with yourself, and in some cases it may tell where you will be in the future.

It’s an illustration of the fact that it doesn’t matter how you’re earning your living, what you’re wearing, what you’re driving, or what gadget you have… only one person in this cartoon is in a better position financially than the rest. And it’s not the one you would expect.

I was listening to Ben Stein on TV this morning. He’s just written another new book called The Little Book of Bulletproof Investing: Do’s and Don’ts to Protect Your Financial Life. One of his tips is ‘Save Till You Drop.’ Another tip in his book is also in my book Simply Fantastic – Living Better On Less. The tip is ‘Live below your means’. I cannot emphasis more how important this is.

The talking heads on the news say that consumer spending is increasing. If that is true then there are a lot of people that think their job is safe and that the credit crunch is over. Please think again, it is only starting.

Even if you start saving in a small way, it is a beginning of good habits. People like Ben Stein and myself do not write books because it makes a living. We write them because we, as business people, see a long road ahead to economic recovery. We write these books to stimulate the mind to begin looking after the future and not relying on someone else, namely the Government to care for our old age.

It is not all doom and gloom, because you are in a position now to begin reorganizing your finances and getting on top of things. The many economic decisions of the present and past, we as a nation may not be in the same financial position in the future.

If you don’t do different, nothing will change.

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The Little Book of Bulletproof Investing: Do’s and Don’ts to Protect Your Financial Life

I listened to an interview with Ben Stein the other day which was very informative. I think this book is a must. I haven’t read it yet but have it on order.

The Little Book of Bulletproof Investing: Do’s and Don’ts to Protect Your Financial Life

The Little Book of Investing Do’s and Don’ts offers quick, easy-to-follow, and entertaining advice for anyone looking to get back on the right investment track.

Do’s & Don’ts to Protect Your Financial Life

• DON’T assume that just because you are capable of managing your finances by yourself you will be better off in the long run if you do.

• DO trade as infrequently as possible.

• DON’T give any weight to market forecasts. All opinion pro and con is already built into the price of equities today.

• DO buy and hold; don’t buy and sell.

• DON’T assume that because you own a bunch of different-sounding mutual funds your investments are diversified.

• DO diversify globally with your stock and bond holdings.

• DON’T buy into a red-hot real estate market.

• DO park assets where they will suffer the least at the hands of the taxman.

• DON’T take Social Security as soon as you are eligible. It often pays to delay.

• DO postpone retirement as long as possible. The safest time to retire is never.

Ben Stein’s Tips for “Bulletproof” Investing – The Early Show – CBS News

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