By Dr Benjamin Franklin and Dr Agon Fly
In 1758 Benjamin Franklin published the final annual installment of Poor Richard’s Almanac. As a preface to this final edition he wrote The Way to Wealth and introduced Father Abraham as the main character in the tale.
Father Abraham embodied the financial wisdom that “Poor” Richard Saunders – Ben [...]
I pay close attention to the financial news. It’s part of my job to know what’s really going on in the general economy so I can properly train other advisors and guide my personal clients with integrity.
Below are six articles from financial news sources from last week I encourage you to skim the first five [...]
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 [...]
“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 [...]
Americans have been bamboozled into thinking that they can get rich and retire comfortably by putting their money in the hands of people whose only aim is to move money from your pocket into some Behemoth’s accounts; IRA’s, mutual funds, variable annuities, variable insurance policies, ETF’s, and on an on.
BUNK!
Here’s a simple rule to apply to [...]
“Soylent Green is people!” Soylent Green, 1975
Conventional wisdom…
In the future world of Soylent Green, people looked forward to the occasional serving of a food, called Soylent Green that the Behemoth of that time doled out periodically. What they didn’t know was that the delightful and nutritious foodstuff was actually made from human remains. They followed the [...]
A recent ad by the national Association of Realtors states that home equity accounts for about 65% of the average American’s wealth.
WOW! There’s something wrong with that equation. That means that a family with a $500,000 house and a $300,000 mortgage - $200,000.00 in equity - plus a car loan or a few thousand dollars on a credit [...]
“There’s no crying in baseball!” Part II
If you are truly interested in your financial future - especially over the next year or two - you’ll read John Mauldin’s newsletter on a regular basis. Here’s an excerpt from and a link to his most recent. After a detailed discussion of the Freddie Mac and Fannie Mae fiascos, [...]
Consider this conversation with Mr. Silas Marner, the not-so-friendly banker at Scrooge & Marner Bank.
You speak:
“Good day Mr. Marner. Thanks for taking time to speak with me today about the purchase of an asset of real property. Mr. Marner, the property I want to purchase is valued at $1,000,000.00. Here are the terms I would [...]
“Louis, I think this is the beginning of a beautiful friendship.” CASABLANCA, 1942
This is going to be a brief but replete post.
This post outlines a strategy that protects you against unforseen loss and guarantees a profit to your estate if you die owning investment real estate.
Every time you buy an investment property you have to establish a fund to [...]