Teaching you to embrace today while making yourself a millionaire!

I wish I would have understood how easy it is to become a millionaire by starting to save small amounts of money when I was younger...

I feel compelled to share the simple concepts you can apply today....


26 September 2008

Wisdom beyond your years!


It is apparent the role models you have had really don't know what they are doing. They have created a house of cards trying to create the illusion that we were economically sound.

They encouraged greed, overspending, debt and poor judgement. This has now created a world wide economic crisis!

Your generation can change this very very easily - One person at a time with simple concepts:

1. Pay yourself first - if you don't who will
2. Don't spend more than you make - make choices - embrace life everyday
3. Buy an affordable home - you can only be in one room at a time
4. Don't get caught up in the marketing of every new product - splurge on what you really want
5. Give back - volunteer
6. Vote - your voice counts now more than ever

You can enjoy life and do all the things you love - it is just about making choices. So is it Starbucks or Chipolte this week. You decide !

My next blog will explain the basics of money - but if you start saving $8.50 a day now - at an 8% long term return in 50 years you will have over 1 million dollars.

Stay tuned.........

20 September 2008

Lesson learned

On Sunday September 14th, we were in the path of hurricane Ike. This was quite a surprise as we live 2000 miles from the gulf. We had winds over 80 miles an hour, trees were snapping like twigs and shingles were flying off houses. There were 4 deaths from the storm - reminding us again how fragile life can be. We lost electric power and phone services for 5 days. Cell towers were intermittent. So we were pretty cut off from the world. Fortunately, it was 68 degrees and we had clean water!

Lessons learned from this experience:

1. Life is precious and we never know how much time we have left.
Embrace the people you love always!

2. People are good - neighbors pulled together, helped with kids, cooked on grills and shared, helped clean up yards, checked on each other and never complained.
We felt fortunate - it could have been much worse!

3. We didn't miss TV, radio or computers. We spent time playing games, reading and talking.
We didn't miss all the distractions and we enjoyed the quiet and time together!

4. All the material items we place so much value on - meant absolutely nothing to us.
We were so grateful for the people and animals in our lives.

I hope you are all safe, warm, and healthy.

Stay tuned........

19 September 2008

Don't Panic - Be responsible.

I am back with a new blog and a new vengeance to help people take control of their money and life.

With all the chaos in the United States financial systems it is important now more than ever that you start to put the basic principles into practice.

You can take control of your life regardless of what fiscal policies are in place by saving more than you will need.

First - save, save, save and save more money. Stop all the needless purchases, use coupons, make coffee at home, buy soda in bulk not at a vending machine, take your lunch, go to a matinee or rent a movie etc.

Basic protection information:

A. Cash in an FDIC insured account are protected up to 100, 000 dollars per SS per institution by the US Government.
B. Brokerage accounts are covered by insurance called SIPC.
C. Mutual funds are safer than owning individual stocks. Fluctuate in value.

Second - make sure you have enough money in cash. You should have a 6 month emergency fund. Emergency fund is just that - so you don't have to charge or go into debt for an unexpected issue.

Rule of thumb - any money you will need in the next 2 years in a safe place, money you need in 3-5 years in a bond fund or lower risk investment, not needing money for more than 5 years - that piece can afford more risk and be in the stock market in a well allocated mix.

Third - if you have an investment account - make sure you reallocate - this should be done no less than once a year. This includes retirement accounts, 401k's and annuities. Review your time frame and risk tolerance. Historically speaking - for long term investments a well allocated stock portfolio is your best hedge against inflation.

You can take control of your life and finances - more to come - the best decision you can make today is to save more money!

Please feel free to comment or ask questions.........

Stay tuned

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