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Mindful Spending

In this season of spending we can often go to excess. We can make rash purchases that we later regret. In our quest for that “prefect” gift we spend too much time and money on others – often to be disappointed by their reactions. We think the perfect gift will make us happy. If you feel like your spending is out of control, your wallet might be in need of a “cleanse” or “throw it all out and start over” practice. This isn’t to say you should throw out your actual, physical wallet; rather, what you need to do is “throw out” your spending habits by embracing mindful spending. The objective is to become more mindful about how you’re spending your money. When you make spending a mindful activit

Index Funds and Diversification

I recently had an email from an 18 year old woman that asked me how she should get started investing. Here's what she said: I just turned 18 years old, and would like to invest young so that I can have life-long investments. I'm interested in investing in somewhere where there will not be outrageously high trading fees or commissions. It would need to be somewhere that can accept a minimum of $1,000 and I am having trouble finding something that works for me. Being extremely new at this, I have no clue how to compare multiple companies, or which company will be the most beneficial in the long run. I was wondering if you had any recommendations or advice for a beginner like me? Two things sta

Dogs of the Dow

I hate shopping but I love the stock market. When you think about how the market goes up and down – it is kind of like shopping. You pick things you like and are of good quality and then wait till they are on sale to buy them. That is the basic concept behind “Dogs of the Dow” - high quality, on sale. Let’s start with a quick history of the stock market. When the TV networks say "the market is up today," they are generally referring to the Dow Jones Industrial Average. Named after the index's founder Charles Dow and his business partner Edward Jones, the Dow Jones Industrial Average was designed to serve as a sample of the performance of the broader U.S. economy. Often referred to as "the Do

Investment mistakes – and how to avoid them!

I have sold more than $9 billion of stocks and bonds in my career - from start-up IPO’s to zero coupon bonds. Here is what I have learned are the four of the most common mistakes investors make—and how to avoid them. 1.Failing to take advantage of compounding. That's essentially returns you get on your returns. And over time, it can really add up. Let’s say you started at age 21 and invested $300 a month for eight years until you are 29, investing a total of $28,800. Even if you don’t invest another penny you will have close to $2 million when you retire at 65, assuming the market continues to compound like it has over time (at 10 percent annually on average). If your friends don't start unt

Time – are you spending or investing?

Welcome back and thank you for joining us on the quest for living rich. Today we are going to discuss the difference between spending your time versus investing it. We all agree that time is more valuable than money. Time is one of the most valuable commodities we have. Instead of just spending it, or using it up, why not look for ways to invest it into our future success? We all have the same 24 hours in a day, and how we spend it determines how we do in life. If you want to play video games and watch TV and do all those other non-value added things, that’s fine. But you’re going to get beat out in most aspects of life by the person who is doing the little things that are going to make the