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saving: Are We Listening To The Wrong Advice About Money? - 04/13/09 12:09 PM
In 1974 the US Congress passed ERISA. The aim was to convince Americans that saving money was a bad idea and that investing [aka gambling] in an IRA or 401(k) was better than putting our money into guaranteed return savings vehicles. Americans listened. Wall Street and the IRS rejoiced.
In 1977 a pretty good high school coach and motivater was able to convince thousands of naive amateurs that they were "financial advisors." He taught them how to strip every penny possible from secure whole life insurance policies and - you guessed it - buy term insurance and invest [aka gamble] everything else in mutual funds. Americans listened. … (0 comments)
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saving: Lifeboats For Your Money... - 03/02/09 09:11 AM
March 1st, 2009
In January, 2008 I wrote an entry in my blog about the failure of the White Star Line to add enough lifeboats to the Titianic because they believed it unsinkable. It's worth re-reading today as the Titanic of the US economy is compromised by the arrogance and greed of the financial Behemoths and the gluttonous appetite for power by the Dolts in DC - the US Congress, the US Presidents of the past 16 years and the misguided ambition of the current US President for a "change" to the unknown...at least to you and me it's unknown.
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saving: Alarming Stats About Young People and Money... - 07/28/08 09:40 PM
July 28th, 2008
America's young people are trapped in a dysfunctional paradigm that is robbing them of the oppotunity to succeed.
"The June 2008 Greenberg survey, entitled "Young People: Living on the Edge" illustrates the severe impact of the current economic crisis on 18 to 34 year olds...
"Of the young adult participants, 75 percent say they have gone deeper in debt over the past year. Nearly 19 percent of respondents report having their phone, cable or utilities cut off, and more than 15 percent have faced repossession or have had their credit card cancelled due to non-payment.
"Additionally, about … (8 comments)
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saving: Advice About Saving From Benjamin Franklin... - 07/28/08 01:27 PM
July 27th, 2008
"Human felicity is produced not so much by great pieces of fortune that seldom happen as by little advantages that occur every day." Benjamin Franklin,
John Bigelow, The Works of Benjamin Franklin, Volume 1 of 12, pg 254
Ben Franklin penned these words about a topic other than money, but could just as well have been discussing saving.
Einstein referred to the magic of compound interest as the eighth wonder of the world.
Everything I've learned about money in the past 50 years supports the idea that slow and steady wins the day when it comes to money.
Modern … (0 comments)
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saving: Money Is Important, But So Are Red Marbles... - 07/20/08 05:42 PM
July 20th, 2008
Generally this blog deals with issues relating to money, saving, investing and the general economy and how that relates to your personal economy. Today's blog digresses a bit from the norm but not really too far. It recounts a story I've heard several times about how one man used some of the money in his personal economy with great results. It inspires me and perhaps it will inspire you too.
RED MARBLES
I was at the corner grocery store buying some early potatoes. I noticed a small boy, delicate of bone and feature, ragged … (0 comments)
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saving: It's Only Money? How You Can Prosper With Small Savings Decisions... - 07/18/08 07:43 PM
July 18th, 2008
It's only...
How many times have you heard - or said - something like, "Let's buy it! It's only fifty bucks. That's a twenty-five dollar savings!"Guess what. There is no "only" when you are dealing with your money. And, savings are only savings when you put them into your "bank".
If, instead of spending it, you put your fifty bucks in your "bank", it would compound to over $400.00 in 30 years at 7.2%. Add to that the 25 bucks you "saved" and you'd have over $600.00. Consider that you make those kinds of decisions frequently … (1 comments)
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Jeffrey Reeves
Denver,
CO
More about me…
EUREKONOMICS[tm]
Address: 1270 Jasmine Street, Denver, CO, 80220
Office Phone: (303) 355-0550
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