How To Stay In Debt

How To Stay in Debt Forever

Usually blog posts have the latest and greatest money tips for knowledge, fun, or suggestion.  There’s an element of persuasion to get to the ultimate FIRE, financially-independent, retire-early status.  Easy savings ideas are rolled out, coupled with side-hustle suggestions.  I’ve done a few of the jobs on the list but in the end, they didn’t pay very well and I’d rather have time to myself than work a second job.

My hobby is making my money work for me.  I’ve coached others on money management and I’ve conducted financial management workshops.

Through my observations and interactions with others, being a financial planner is not as rewarding as I thought it would be.  People want an easy answer, one that they don’t have to take responsibility for.  Like a financial windfall is going to fall out of the sky to rescue them from their foolishness.

Continue reading “How To Stay In Debt”

Value

 

Value

Have you seen The Price of Everything on HBO?

The maker of the documentary exposes the world of art collecting and the explosive valuations assigned to the art space.  I call it “space” as I couldn’t get past the vacancy attached to paying a ridiculous amount of money for something to look at nor could I be persuaded by the pretension.

To me, it’s a profound lesson in how we define value in our lives.  Because when you think about it, everything has value.  And nothing has value.

What do you value?

What’s the value of feeling good in your skin?

Continue reading “Value”

The Best Gift To Give A Child

THIS POST MAY CONTAIN AFFILIATE LINKS.  SEE MY FULL DISCLOSURE FOR DETAILS.

With the holidays coming up, I thought I’d address gifting.  Unable to contain my practical side, my suggestion for gifting to children should be corporate stocks.  Forget the useless toys and crap that ends up in a junk pile.  Hopefully you donate those things when your child outgrows them, not add to our garbage landfills.

Give a gift that gives back.  This year, buy a dividend-paying corporate stock.  Your gift can extend past the holidays by educating them about stock investing.  Plan small, ongoing lessons throughout the year to generate enthusiasm for investing.  This could be the most valuable gift that you can give a child. You would be laying a foundation for their future wealth.

Continue reading “The Best Gift To Give A Child”

Protecting Your Retirement Assets | Invest by Risk Category

THIS POST MAY CONTAIN AFFILIATE LINKS.  SEE MY FULL DISCLOSURE FOR DETAILS.

It was reported back in early 2009 that 10,000 a people a day were losing their jobs.  Job losses meant that people stopped spending money, furthering the damage to the economy.  It almost seemed that there was no way out of the disaster.  As you can see from the second image that I presented that consumer spending was down, way down.  Consumer spending supports the economy at the rate of about 70%, so you can see how job losses and reduced spending were going to delay economic recovery.  In addition, average people not only stopped spending but were struggling with accumulated debt.

Job losses were the news of the day.  I remember being at my follow-up job only two months, when I had two cell phone calls in one week from friends that both lost their jobs.  Many employers handled it poorly, witnessed by the remaining employees.

Continue reading “Protecting Your Retirement Assets | Invest by Risk Category”

Asset Diversification and Extreme Money Scripts

THIS POST MAY CONTAIN AFFILIATE LINKS.  SEE MY FULL DISCLOSURE FOR DETAILS.

stock market

2008 Flashback

In late October, 2008, the fear had set in.  A writer from Newsweek chose to report on the edge of positivity but, really, there was none to be found.  Everywhere you turned, there was more bad news.

Even the run on foreclosed properties had a downside.  The article reports that foreclosed owners often left feces on doorknobs and banisters.  That’s a reflection of the anger level of homeowners that had to abandon their homes. Many were on the verge of bankruptcy.

Financial meltdown

The “Ownership Society” rallied by President Bush was meant to include every American into the homeownership club.  That went down in flames, taking the rest of the country with it.

Today’s first topic is asset diversification

I promised to talk about asset diversification and I know you’ve heard of this.  You may feel a yawn coming on.  I know, it’s not very exciting.  What is exciting is knowing that your hard-earned investments won’t be wiped away in an instant if “Wall Street” makes a bad decision.

Continue reading “Asset Diversification and Extreme Money Scripts”

Don’t Repeat Old Financial Mistakes

THIS POST MAY CONTAIN AFFILIATE LINKS.  SEE MY FULL DISCLOSURE FOR DETAILS.

Today’s flashback to 2008 follows the buyout of Bear Stearns, how their executives knew the financial reality and how the subsequent fallout of the failure of the large financial institutions was forming.  CNBC aired a special, Crisis on Wall Street, on the frenzy of reactions during mid-September 2008 to deal with the quick domino-effect of the bankruptcies of the country’s largest banks.  If you didn’t watch it, you can probably catch a rerun.

Continue reading “Don’t Repeat Old Financial Mistakes”

2008 Flashback: Bear Stearns & Personal Debt

THIS POST MAY CONTAIN AFFILIATE LINKS.  SEE MY FULL DISCLOSURE FOR DETAILS.

On today’s vlog session, I’ve gathered the following topics – all related to debt:
Flashback to 2008 – Bear Stearns: the precursor of the Great Recession

Assessing stocks – the most important company metric is debt and risk level

Book review: Squeezed. What the author describes as new for our economy is actually not new at all. And by maintaining low levels of debt, you can maintain a high level of resiliency when responding to changes in the financial environment.

 

How are you managing your debt or is your debt managing you?

 

Related post:
Investing and Behavioral Risk

Money Scripts – My first money vlog session

Today is the first day of my blog format.  Check out the video below for my latest money topics.

Today’s topics are:

Achieving financial satisfaction

How focusing energy on money management makes it happen

Money scripts

 

Today’s question is: What’s your money script and is it serving you?

Join me next week when I flashback to 2008 with articles from my personal archives on the events that led to the Great Recession.

Your feedback is greatly appreciated.  Leave me your thoughts and comments.

Related Posts:

Financial Happiness

Money Scripts

Financial Freedom – Get It