Author Archives: moneygooguru

Those FXXXG Rich People!

16 Wednesday May 2012

Posted by in Growing Wealth

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How often do you hear some negative remark about rich people and how they mess things up for the rest of us?  With all their selfishness and greed, right?

Maybe you’ve made the comment too.  I’m guilty of such statements myself.  But I’ve changed my tune.  And here’s why.

Rich people are no more guilty of hurting us than McDonald’s or tobacco companies.  The majority of the time, if they hurt you – you let them.

Did Ronald McDonald pin you down on the floor, pry open your pie hole, and dump a Big Mac-a-day for ten years?  Did R.J. Reynolds Tobacco Company’s camel wallop you upside your head with its sweaty hump until you lit up your ten thousandth cigarette?

Did rich people somehow crawl through your TV or phone and take your money?

Come on, no one is twisting your arm to do anything.  YOU decide to do everything you do – including make a lot of dumb decisions.

Yes, there are scammers, but a sucker is born every minute. And yes, there are plenty of people making plenty of money just waiting for us to be idiots.

We all do and have done foolhardy things enough to make plenty of people richer.  But it’s not their fault, it’s ours.

There’s nothing wrong with being rich.  And if you did some research, you’d discover that the overwhelming majority of rich people planned and worked hard for every penny. You’d find that people don’t stay in business long without honesty and integrity.

So before you spend any of your money – do some research, think it through, get a second opinion.

You might even be wise to follow a rich person around for a while and see how they did it.

Should They Be Taxed More?

In case you think rich people should be taxed more, read this great article, Why Taxing The Rich Doesn’t Work, which explains how doing that would actually be harmful to the economy and affect non-rich people more!

Read the entire article Those Evil Rich People at Creating True Wealth.

Free Entertainment

15 Tuesday May 2012

Posted by in Fun, Not Just About Money, saving money

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Quite often we see folks buying all kinds of stuff to amuse themselves.  Yet those very things require a bunch of time and money to buy and maintain.

Lots of things are free.  You don’t have to spend much money (or in many cases, any money) for entertainment.

Here are some ideas:

  • Play at your local parks.
  • Take a walk on local trials or at the beach.
  • Ride bikes on local trails.
  • Swim at the local watering hole.
  • Watch free internet TV (like Hulu) using your Roku box.
  • Listen to free internet music (like on YouTube).
  • Attend local events (concerts in the park, hot air balloons).

What do you do for free or cheap entertainment?  Reply with your idea, and we’ll add it to this list.

The Walla Walla Balloon Stampede was totally free – even got a ride in a hot air balloon!

Cell Phone Radiation Sores?

15 Tuesday May 2012

Posted by in Health and Food, Not Just About Money

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Think it doesn’t happen? It does. Just keep carrying that cell phone around in your pocket week after week, month after month.

Now, this is not to be confused cell phone rash, caused by a suspected allergic reaction to the nickel on the surfaces of some cell phones.

No, we’re talking about a radiation-induced ugly sore (or multiple sores) on the skin near where the cell phone is kept (like in the front pocket of jeans), or worse. There could be other issues, even cancer. Research has indicated a multitude of potential physical problems associated with cell phone usage.  So just how much is your precious cell phone going to cost you?

This is a picture of one patient’s cell phone sore (on his right leg), taken May 2012. The sore developed in December 2010. Doctors tried treating it, unsuccessfully – not surprising since most doctors only attempt to treat symptoms with ointments and drugs “designed” for symptoms (or in reality, discovered to accidentally have side effects capable of treating certain symptoms, with many other harmful side effects that are glossed over).

The patient soon observed that this sore was in the exact location on the right leg where he keeps the cell phone in the front right pocket of his jeans – usually for about 16 hours a day, seven days a week. The patient also developed a few similar but smaller sores on his left leg (one high up, and the other near the knee).

Imagine this sore on the surface of your brain from constant yakking. It could happen…

As of May 2012 the patient reported stopping carrying the phone (or keeping it off if he does carry it). We’ll keep you posted as to when/if the sores go away.

Oh yea, and you’re being tracked by your cell phone too.

Would You Pass the Marshmallow Test?

07 Monday May 2012

Posted by in Debt, Growing Wealth, saving money

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This article is by Daniel Murphy, Books2Wealth.  It is very insightful as to the issue of delayed gratification, which many of us struggle with.  And when it comes to personal finances, that can be disastrous.

Would You Pass the Marshmallow Test?

In 1972 a study was conducted called the Stanford Marshmallow Experiment. Young children were given a single marshmallow and told that if they did not eat it for 20 minutes they would get another one. If they ate it they would not get another one. Some of the children could not wait the 20 minutes and ate the marshmallow. Other children could wait and received a second marshmallow after the 20 minute wait. This of course is a test of our ability to delay immediate gratification for the promise of a greater reward later on.

The study then tracked these children through adolescence. They found that the children who could wait for the second marshmallow were better adjusted children, were more successful in school and more likely to successfully attend college. They got better grades and scored higher on aptitude tests. You can actually watch these children in this study in this three minute video.

We naturally see waiting for something as a form of deprivation. It takes more wisdom and self-control to see that postponing immediate gratification can pay off greatly in the long run. Rather than seeing this as deprivation, we can learn to see it as an investment in our future.

Each of us is in this marshmallow test every day. The way we spend our time and our money is the same kind of marshmallow test. Those of us who are better at postponing that immediate gratification reap much greater rewards over the long term. Those who cannot wait get less out of life.

In today’s articles we explore various forms of “deprivation” through spending less money and more wisely using our time. The more we can see this not as deprivation but as an investment in our future the more successful we can be. Like most lessons of success, this is a simple lesson to learn, but not an easy one to live.

Are you an impulsive marshmallow eater, or can you wait to double your marshmallow enjoyment? The answer may well decide how fruitful your life will be and how much wealth you will build. Replace the idea of deprivation with the idea of investment and you will reap the benefit time and again throughout your life.

Are You A Scam Target?

26 Thursday Apr 2012

Posted by in Growing Wealth, Help is out there

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Recently I attended a seminar “Spot the Red Flags of Fraud” hosted by the Financial Industry Regulatory Authority (FINRA).  Ironically, in the middle of the seminar I get a pre-recorded spam marketing call on my cell phone trying to get me to sign up for some rip off web service.

It seems that everywhere, every day, we are bombarded with “offers” to help us or make us richer yet designed to squeeze some blood from a turnip.  Personally, I have no trouble quickly deleting such messages from my computer or phone, laughing at the hideous TV ads or even being a little rude on the phone if I actually get a live person trying to get my money.  But many people are a little too nice when it comes to allowing a cleverly designed sales scheme pitched by a nice sounding salesperson to take hold of their emotions.

Here are some of the lines you may hear, all designed to snag you into their web.

  • How would you like to make some easy money?  Run!  There is really no such thing.  Success takes planning, time and hard work.
  • This investment opportunity is risk free (or has a guaranteed return).  Do not be fooled.  Investments are never risk free and guaranteed returns have conditions.
  • This product is available for a limited time only.  Do not fall for it.  They’ll be more than glad to take your money next week or next month just the same.
  • Everyone is trying to get in on this (or many of your neighbors, co-workers or family and friends are doing it).  So what!  Just because all your neighbors are jumping off a cliff, why should you?  Consider this: The majority of people are not doing so good financially, so do not copy them!
  • The sales associate looks/sounds so professional.  So does Satan.

As the old saying goes, if it sounds too good to be true then it probably stinks.

Okay, so we’re all safe from these pick up lines, right?  After all, it is usually just unsophisticated, uneducated people who fall for this, right?  Wrong.  Here’s the demographic that falls for such lines the most:

  • Male
  • Married
  • 55 to 65 years old
  • Financially literate
  • College educated
  • Self reliant
  • Recent change in financial health (or way “behind the curve” financially with lots of time to make up for)
  • Risk takers (always open to new investment opportunities)
  • Already owns high risk investments
  • Relies on family and friends for financial advice
  • Fails to check the background or registration status of products/sellers

Sound like anyone you know?  We know many who fit this mold too.

Here’s how we can avoid being scammed.

Ask questions, such as “Are you licensed to sell this product and is the product registered?” and then verify it.

Avoid “free dinner” type presentations that make you feel an obligation to reciprocate since you received something.

Avoid high risk investments.

Get second and third opinions in the investment, not from family and friends but from professionals (not salespersons) in the field.

Develop a “refusal script” for when you get calls or are approached with the “opportunity.”

Protect your asses! For more information, try these very useful resources:

Save And Invest (get free video, Tricks of the Trade)

Financial Industry Regulatory Authority

Washington State Department of Financial Institutions (find similar website for your state)

It’s not always about Money

30 Friday Mar 2012

Posted by in Not Just About Money, Time

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Don’t misunderstand this: There is nothing fundamentally wrong with making money or having money – lots of it. But there is a hazard associated with money that is worth assessing, in case we fall into a dangerous trap.

When the behavior that kept us broke and in debt is suddenly and radically changed like a wildfire to an intense desire to never be foolish with money again, which is a very sought-after transformation, we run the risk of going too far the other way if we’re not prepared.  Thinking we’re just being frugal, we can suddenly transition from careless to cheapskate, from an open hand to a stingy closed fist.  And we can spend all of our time working and seeking more money.

Read more about this key subject, and other ways to buy more time at Creating True Wealth.

Cost of Success

16 Friday Mar 2012

Posted by in Not Just About Money, Time

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You will find a common theme in the biographies of highly successful people. Whether they are thriving businessmen, musicians, or actors you will find an unusual degree of focus and dedication to the craft. Perhaps even an obsession. There is no need to get into the psychological reasons for this immense passion, but the obsession likely includes a strong sense of having to prove oneself.

There is something else that these “stars” have in common too. Being the best will require long, late hours continually – study, practice and more practice. Because of the extreme time commitment, many (not all) of these icons are unable to maintain healthy relationships at home. At some point a decision is made, whether conscious or unconscious, to continue pursuing the real love. As a result, marriages and other relationships with family suffer for it.

It is not physically possible to be the best at everything, as there simply is not enough time. Therefore to excel unusually high in one area will cost you in another, plain and simple. If you want to develop your own thriving business it will cost you. If you want to try to become a rock star it will cost you. If you want to make it on the silver screen, it will cost you.

The momentous feats will cost you time, money, sweat and tears, and maybe many relationships along the way. Shoot for the stars, yes. But make sure the target is worth the sacrifice. And while you’re heading there, strive for a balance between your “thing” and the other important things in life.

Debt Free Loser

12 Monday Mar 2012

Posted by in Debt, House

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Who knew there is a right way to get out of debt?!

We have always been huge fans of Dave Ramsey, yet along the way we have noticed that he is as rigid as a square. Always doing things the safe way. Like a drug counselor, Dave assumes that everyone in debt is a debt addict and must avoid it at all times. Maybe it’s because he gets tired of giving good advice, only to watch people not follow it.

We have found that many people just need to start paying attention to why they are negatively charged! Once smart folks start paying attention, they figure out the right things to do and then do it. Hello hero, goodbye zero.

Take us for example, we got out of debt in a strange order, yet we still got to the finish line in the same amount of time. First we paid off the credit cards, then the house, then the car. Why in that order? So I (Deborah) could reduce my work hours without fear of a looming mortgage. The order of debt payoff was based on lowering all of the risks, not just the lowest remaining debt. A large mortgage payment scared me more than a small car payment. And working full-time while someone else gets to spend most awake hours with our daughter bugged me. I wanted to cut back on my work hours. Weird, huh?!

Factor in all the risks before making any decision. Things can be replaced, people can’t.

Talk about ironies. Getting a car loan (so we could mail a check to pay off the mortgage) kept us off the Dave Ramsey show. We were scheduled to shout “we’re debt free” on Dave’s radio show a while back and the producer declined to have us on the air because “Dave wouldn’t like” how we got here. Hey, but we’re debt free – does it really matter how we got there! Who knew that we were debt free losers?

We still love ya, Dave.

Oil and Water

12 Monday Mar 2012

Posted by in Growing Wealth, Health and Food

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We seem at times to be more loyal to things that harm us than the things that are really good for us.

For example, what is it about greasy food that we can’t seem to get enough of? While driving past a fast food restaurant recently, the familiar, compelling smell of french fry grease suddenly filled the car. And it smelled SO good! But I also thought about how often after stuffing myself with an order of those greasy potato strips, the sensation turns to an unsettling clump in my gut and slight nausea and a vow to stay away the next time.

Why do we keep doing this? We crave the fatty, salty goodness of fries and other deep fried goodies but after eating them we feel like we’ve just stepped onto another planet with a much higher gravitational pull. Yet we keep returning for more.

Hmmm. And that reminded me of another type of lure – the alcohol buzz. Same sort of thing. It can taste and feel so good at the start. But if you’ve ever overdone it and ended up later praising the porcelain god on your hands and knees and dealt with the worst headache the next day then you know how awful this seemingly fun activity can become. And you probably vowed to not do that again. Yet quite often we go back for more again and again.

And then there’s money and all the stupid things we do with it. We buy things we can’t afford to impress people we don’t like. We could write a book (and have) about all the mistakes we’ve made with money.

It seems our lives are at odds with many things, just like oil and water. You have to admit one thing, though. To keep going back to something that almost always ends up disappointing – that is loyalty. That is devotion. Why then, if we can tough it out for these and other inferior things, is it so hard for us to apply that same level of dedication to other more important things? Figuring this out is the key to winning.

Walla Walla Wine Bottle Pendant Light

09 Friday Mar 2012

Posted by in Fun, Not Just About Money

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These elegant wine bottle pendant lights are handcrafted in Walla Walla, Washington from recycled regional winery bottles.  Safe and quality UL listed eletrical components.  Put the lights on a dimmer to set the mood!

For more pictures and details or to order these attractive, festive lights go to BottlePendantLight.com.

Walla Walla is a treasure for wine tasters.  Get all the information at Go Taste Wine.

Learn more about Walla Walla at NextStopTV.

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