Easy Change

Ben Stein wrote a great article on yahoo finance about this topic. http://finance.yahoo.com/expert/article/yourlife/178987;_ylt=AojOTBf8MTYC2QDenJZuT.e7YWsA In the article he writes: "A short while ago, I said in a public forum that while I did not doubt that in a society as rich as ours, no one should be denied health care, and that health care was a right, I still had some questions about the administration's plan. This had been my feeling for all of my life, i.e., that health care was a right, and that if necessary, it must be paid for by the taxpayers if some people could not afford it." Put simply I don't think that simply because the united states is rich compared to other countries that the defenition or right changes. A right in my opinion is life (this does not imply anything about quality of life), liberty and the persuit of happiness. I also believe strongly in the right to own property and no one elses moral obligation to provide healthcare to everyone sh...

Finding the right tool to be productive can mean the difference between being average and being a superstar. Although it still feels early, I think that the iPhone is that tool for me. I tried palm pilots and I've played with blackberries. The cost is significant but worth it. It can be very easy to get caught up in the aspects of the phone that make it entertaining. Bringing games and other aspects of computers together really makes it a productivity tool. So I don't know what else to praise it for. But those are not the real reasons I like it. The very text that I'm typing right now is the reason. Becoming adept at the keyboard is a bit of a learning curve. Butit is no different than the palm or the blackberry. And the quick composition of text makes the iPhone an all-star. Now that I have this tool I can always work on something that interests me or even chill out with a game. But more than that, it is all in one. For me that I don't have to carry a separate item li...

Ok so great. We finally are over nine thousand on the Dow and everyone is wondering if this is the right time to get back in. People find themselves rejoicing because those 401ks are starting to look better. They are not alone. I am right there with everyone on this. The main difference is that I am not going to change my strategy in the wake if a good few weeks on wall street. The new rules still apply for me. Cash beats credit. And there's no security like money in the bank. And getting in position to have many choices in case things go south is the best balm to soothe the wounds of any disappointment in any part of life. So all of the above having been said, I am finding myself more interested in my retirement contributions. You see, I am not getting any younger and I think that it is worthwhile to get as much saved as early as possible. Many people cite compound returns as a motivating factor and it is true that it matters. Over the past few months though, it has become increas...

Financial Primer When I think back on my financial situation growing up, I never really understood how many issues that there are when it comes to money. Understanding the major financial concepts early on in life and having some tangible, concrete understanding would have been much better than some random experiences and emotions. Just understanding these important aspects as a young person and how to handle them correctly can contribute to financial well being. Income Income is the way money enters your life. Usually, this is in the form of a job, but there are also other sources of income like gifts, bonuses, interest income, and investment income. My concept of income was rather skewed as a kid. I didn't usually need much money. I like to think that I wasn't that greedy. I generally was happy if I had a bike to ride and some sticks and balls to play with outside and some video games to play with inside. I never got a steady allowance per se, so by the time I started learnin...

I've been using a tool to track my household net worth for years and I think that it has been an enormously helpful tool as a motivating factor for helping me to make the correct decisions. The tool I have been using is NetWorthIQ. You can view a small sample chart that they produce. But I think that more than the chart, it is about the motivation that the chart provides. Besides providing a simple line of how your net worth has grown or shrunk, it shows how your net worth can be impacted by the events of the day and how well you've navigated those storms. Personally, the great opression of 2008/2009 has been awful. It has left me feeling somewhat void. My feelings are not that unique, and my approach is not that unique. From the perspective of making money, it is difficult because the people that tend to do well are people who are far out on the risk curve, people who are doing something different. So, with the net worth tracking tool, I am able to determine that my approach,...

One of the possibly most historic bills in the history of the united states. It could be compared with the new deal and other initiatives like that. Interestingly, many people who were once big supporters of Obama seem to have now withdrawn support. Popular opinion among political pundits is that he was elected as a left center president but has now begun pushing a radical agenda. In some versions of the legislation, people making over one million dollars will be taxed an additional five plus percent. In reality, the problem is the additional burden will impact the average American. In short order this legislation will transform not just healthcare but the entire economy. Personally, this feels like the biggest economic issue since the stimulus. By standing by and doing nothing, we are giving our legislators a blank check. I think that is a mistake. I've written to my reps and I urge you to do the same. Right now the decisions to spend money will impact us and our future generatio...

This week Wealthtrack's Consuelo Mack had a sit-down with PIMCO's co-CIO Bill Gross. This was part of a new series of interviews with great investors. It was an interesting episode where Consuelo Mack pointed out some of the clear and present dangers for the United States of America: 1. An increasing reluctance on the part of large foreign nations to take on more treasury debt due to the lack of good real returns and the lack of strong returns on the US investments. 2. Increasing debt levels of the United States being rather sticky since the only way to really combat them is to re-inflate the economy and then pay down the debts with cheaper dollars. Interestingly, Bill was asked the question whether or not there were any investments that he was excited about long term and he answered with a resounding "No." When the conversation drifted into why that was the case, it seemed that the "mean" return for investments long term would be in the 6-8 percent/5-7 perc...

One of the more interesting things that happened in the news recently is that Bernie Madoff was finally convicted in what was basically a shut case. Many people have decried the punishment he received though: a hundred and fifty years in prison. His representatives were taken aback by this judgement but it seems reasonable to me. According to the article I read online, there was not even a single person who wrote to the judge prior to sentencing in support of Madoff. Not his family. Not his friends. In the end it seems that Madoff is utterly alone. Unfortunately Madoff took a lot of people. And certainly some of these investors should have known better. But, if you even ignore that, aren't we forgetting the people who probably were otherwise involved? I will be much happier when I find out that the accomplices are brought to justice also. Read the news story here. All that this story does is underscore the fact that people need to be responsible for their own actions. No one else w...