Imagine this–
A successful 45 years old
A couple of children about to go off to college
The stay-at-home spouse is about to re-enter the work force even though the family doesn’t need the income
The mortgage-paid off
No auto loans, credit card debt, or home improvement loans
Several years of living expenses set aside [...]
Joseph J. Ellis in His Excellency George Washington [Vintage books, NY] writes that the Father of our Country, unlike Thomas Jefferson and others from the elite class of the day, demonstrated “…concern for his own economic interest…” and adds paranthetically that “Perhaps this is the underlying reason Jefferson and so many other[s]…would die in debt, and Washington would die a very [...]
During the last half of the 20th century and the first decade of the new century there have been hundreds - perhaps thousands - of the latest and greatest diet books, diet infomercials, diet clubs, diets that are delivered to your door, diets you can pick up at the store, even urban legends about cabbage [...]
Preamble…
There are hundreds - perhaps thousands - of legitimate uses for participating (par) whole life insurance.
Thoughtful and creative insurance and financial guides recognize par whole life as the most powerful, flexible, and versatile financial tool in the US economy. These enlightened guides use par whole life for applications as simple as fulfilling basic family needs, [...]
Mystery…No. 5 Volume Is More Important Than Rate
Every major product in the financial services business - every type of mutual fund, annuity, variable insurance product, bank CD, treasury bill, note and bond - proudly trumpets its rates. If 2% is good then 5% is better. If 6% compounded is wonderful then 8% compounded is [...]
Mystery…No. 2 You Know Best What’s Right for You
The Debt Paradigm preaches that you cannot fully comprehend your own personal economy. It implies that the professionals who subscribe to the Debt Paradigm are in some way wiser, more knowledgeable about your situation, better informed about your needs, and perhaps even cuter than you.
BUNK!
You do not [...]
The Seven Mysteries - aka Wealth Builders
Moving from Bad Habits to Good Practices
Prologue
The difference between a habit and a practice is awareness.
If a habit relies on thoughtless performance, a practice relies on thoughtful performance. The behavior can be the same, e.g., locking the doors at night. Awareness makes the difference.
Conventional wisdom means that [...]
Myth No. 4 - I Have A Retirement Plan From Work
Myth: my company has a pension/profit sharing/401k/other plan that promises me a secure future income.
Reality: Enron, MCI, US West/Qwest, Mutual Benefit Life, United Airlines, and many other well known and superficially reputable and stable companies have defaulted on retirement plans in the past and many [...]
Seven Myths and Seven Mysteries of Personal Finance and Personal Economics
For the past half century, the hubris-laden financial industry has led Americans to believe that the individuals and organizations on Wall Street - renamed Dull Street by the author - and their minions on Main Street know more than we do about our personal finances [...]
The primary aim of this blog is to inform and educate Americans about ways to use the EUREKONOMICS™ model to create and manage personal economies that thrive in good times and bad.
Unfortunately, in 2009 the Federal Government and the US Congress pose the greatest threat to our collective financial security. Their greed for the accretion [...]
