19 Principles That Will Help You Succeed in the “Real World”
.19 Principles That Will Help You Succeed in the “Real World”
by JJ
Okay, so here is a list of 19 principles that I have accumulated over the years. These are things that I wish someone would have shared with me when I was ready to graduate high school and enter the “real world.”
My hope is that you will skim through this list and find a few things that are useful or inspiring! I can’t say that I was ready to accept some of this “guidance” when I was 18 years old and that’s totally okay. In fact, as I read back over this post I can’t believe that I wrote it. It has a self help, motivational vibe that I was definitely not giving off in high school. But, a little over 10 years later (well closer to 15…) and I’m starting to buy into it.
So, if you find some of these points kind of hokey…just give it a few years
Suze Orman’s Top 26 Tips That Will Save You From Financial Disaster
.Suze Orman’s Top 26 Tips That Will Save You From Financial Disaster
Gabrielle Olya Sat, July 31, 2021
Suze Orman was working as a waitress and making $400 a month at 29 years old. She then decided to take a chance on a major career change and landed a job as a broker for Merrill Lynch.
Having been on both ends of the financial spectrum, Orman knows what it takes to make the leap from broke to wealthy, and is now one of the most respected voices in personal finance -- as well as a New York Times bestselling author with more than 25 million books in circulation. According to Celebrity Net Worth, she is worth some $75 million, indicating that she’s followed her own financial advice for saving, investing and preparing for retirement.
It Takes More Than Money to Retire Early: Lazyman
It Takes More Than Money to Retire Early: Lazyman
When we think about early retirement, we tend to focus on the money. That’s natural because we need money to retire early. Building a portfolio is a crucial step to early retirement. When I was trying to retire early, it was all about how much we spend and how much passive income we need. However, it takes more than money to retire early.
We have done well over the years and saved up a good amount. That’s true for lots of people. There are over 11 million millionaire households in the US now. Most of these millionaires are still working hard. Clearly, money isn’t the only requirement for early retirement. Some people just aren’t a good fit for early retirement. Finance is a big part of the equation, but there is more to it than that. I thought it’d be interesting to see what that elusive something is. That’s why I’m doing this interview series.
Advice That Can Help You Survive a Crisis
.Advice From Mark Cuban, Warren Buffett and Other Experts That Can Help You Survive a Crisis
Nicole Spector Thu, July 29, 2021
Amid a calamitous year (and then some) marked with historic civil unrest, a full-blown pandemic and a whiplashed economy, we could all use some words of encouragement. And to whom shall we turn for those prized pearls of wisdom? Might we suggest financial advisors.
These money-minded folks are able to see the state of the economy in a way that the average American doesn’t always get to see — unless they’re hiring them or their services. They bring a detached, big-picture perspective to financial affairs, understanding situations not only according to how they feel in the short term, but what they mean in the long term.
Getting a Mortgage When You Have Assets But No Income
.Getting a Mortgage When You Have Assets But No Income
Posted by Darrow Kirkpatrick | Aug 28, 2017 | Real Estate, Retiring
Most early retirees have no pension, annuity, or Social Security income. Even if you’re a traditional retiree, you might have only one of those income streams. But what if your lifestyle plans require a home purchase? Even if you have the savings to afford a house, you might not necessarily be able to liquidate enough of those assets quickly in a tax efficient manner. So you’ll need a mortgage. But most conventional mortgage loans are based on income. If you can’t show income, how do you go about getting a mortgage?
When we retired, downsized, and moved west I swore I’d never own another house. My post about our move across the country spells out the high quality of life we’ve achieved as renters — without the obligations of home ownership.
It's OK To Say "NO"
Reposted for our newest members:
(Note: This Article can apply to Lotto-Winners, A Big Inheritance and Dinarians!)
A good read about saying "No"
This story appears in ESPN The Magazine's Dec. 8 Big Money Issue. S
HERE'S A CHALLENGE: Imagine what it feels like to be 21 years old, extremely successful, famously wealthy, wildly stressed and unbearably miserable. How, you might wonder, can all those conditions exist simultaneously?
Start here, with Cowboys All-Pro offensive tackle Tyron Smith, talking to his mother on the phone one day in 2012, his second year in the NFL, during a time of growing tension between him
"We've found a house," Frankie Pinkney told her son.
By this stage, wariness had become as intrinsic to Smith's identity as his brown eyes and bookcase shoulders. Silently, he awaited details. He had agreed to purchase a home in Southern California for his mother and stepfather. They would live in it; he would own it as an investment.
People Who Are Good With Money Avoid These Missteps
.People Who Are Good With Money Avoid These Missteps
By Jake Schroeder
While there are hundreds of potential mistakes people might make with money, there are some financial moves that can really set you back. Between bad habits and wishful thinking, poor financial choices can happen all the time. This round-up can serve as your guide for what not to do when it comes to personal finance. From not saving for retirement to living beyond your means, here are some things that people who are financially stable don’t do.
Lose Track of Money
Money isn’t infinite. That’s why it’s important to keep track of where you’re spending it. If you don’t know where your money is going, it’s easier to waste it. Let’s say you’re paying for subscription services you don’t use. Before long, you’ve spent $1,000 on music streaming, and you had no idea. That $1,000 you didn’t use could’ve paid down a credit card.
How to Spot Counterfeit Money
.How to Spot Counterfeit Money
How can you tell if money is fake? Check the bills in your wallet with these methods.
By Geoff Williams | July 21, 2021 U.S. News & World Report
Checking counterfeit money light. 100 dollars against the window in his hand. Check for watermark on new hundred dollar bill. translucence of the American currency.
If you hold the bill toward the light and there's no watermark or if you can see the watermark even without holding it up toward the light, then the bill you're holding is probably a counterfeit.(GETTY IMAGES)
It would be easy to assume that it's rare to encounter counterfeit money. After all, plenty of people rely on credit and debit cards and even cryptocurrency, and go long stretches of time without touching a dollar bill or quarter. But cash isn’t exactly dead yet. Every week, it seems, counterfeiters make news throughout the country.
How Much House Can You Really Afford?
.How Much House Can You Really Afford?
Posted by Darrow Kirkpatrick Mar 1, 2021
Google “How much house can I afford?” and you’ll be awash in a sea of mortgage lenders. This is the mindset that younger people and the average consumer must take when it comes to buying a home: How much will a financial institution loan to me? And many, sadly, make their financial decisions based on how much they can borrow. They assume that you would want the maximum allowed.
How much house can I afford image with calculator
But FIRE-oriented folk, potential early retirees, and the financially independent are likely to look at the problem from other, different perspectives. The first might be, how modest a house can I live in, and still be happy? Another perspective might be, how will this impact my budget and savings rate long-term? A final perspective, since many in that group can afford to pay cash, is not how much will my income qualify me to borrow, but rather how much of my net worth can I sink into a house without taking on undue risk or compromising my cash flow?
What It Means To Be Rich
.What It Means To Be Rich
Posted July 25, 2021 by Ben Carlson
My wife and I have a good system of divide and conquer when necessary so the next morning I took the kids for a family bike ride to get them out of the house to give her some peace and quiet after a rough night. On our bike ride we approached an older couple that was walking in the opposite direction. The woman, who looked like she may have had grandchildren based on the way she smiled at my kids, said to me, “You’re a very rich man.” Here I was feeling sorry about myself because I was tired from the night before and this stranger hits me with a perspective bomb out of nowhere.
I love the way she put this. She didn’t say I was lucky or blessed or had my hands full (I get that a lot with twins). She said I was rich which is not the way I ever looked at this before.
Too Smart
.Too Smart
Jul 13, 2021 by Morgan Housel
“One of the most persistent fallacies is the reflexive association of wealth with wisdom,” Ed Borgato once wrote.
Wealth might be a sign of good decisions, but can those decisions be repeated? And do good decisions in one field translate to wisdom in other areas of life? Maybe, maybe not – that’s the best we can say. And there are times where exceptional wealth can prevent empathizing with ordinary people, making insight more precarious.
A similar mistake, a bit harder to grasp, is the assumption that smart people have the right answers.
They may. But does intelligence in one field convert to others? Does being good at taking tests translate to, say, leading groups of people?
Maybe. It’s never clear.