Here is the link.
1.Bogle on Mutual Funds (1993).
2. Common sense on Mutual Funds.(1999)
3. John Bogle on Investing (2000).
4. Character Counts (2002) .
5.The battle for the soul of Capitalism.(2005)
6.The little book of Common sense Investing.(2007).
7.Enough (2008)
8.Common Sense on Mutual Funds .Fully Updated 10th Anniversary Edition (2010) A MUST READ.
9. Don't Cont on it.(2011).
10. The Clash of the Cultures. (2012).
Saturday, February 2, 2019
Case study: 2009 credit report
February 2, 2019
It is my personal finance research. I spent time to review my IRA CD performance from 1999 to 2019, and then I came cross my 2009 credit report paper copy. I searched the hard disk but I could not find the electronic copy. I like to case study the credit report.
I am very happy to retrieve my home equity line balance from 2007 Dec. to 2009 October. I like to look into the decision making behind those transactions behind the home equity line.
I did withdraw $30,000 US dollars from home equity line after I left full time software job from one year full time job as a software programmer in Oct. 2007.
Best buy/ HSBC
opened on 04/2002, high balance $1964.00 for SONY laptop I purchased.
Home depot/ citibank
Date opened
07/2003
high balance
$3590
I put tiles on the floor and paid home depot to hire the contractor in 2003.
I like to push myself learn personal finance. One idea is to look into those financial data, and learn from the experience. What mistakes I have made in those years.
One of ideas to lower the risk and cost reduction is to purchase used car, and cheap laptop, and carefully monitor the expenses. I should pay attention to mini leaks and major leaks in terms of annual report, decade report.
I also have to learn how to be an intelligent person, avoid emotional decision making; I should always consider alternative cheap ways to solve problems. I should not pay any expensive service from any one in the world. I just use common sense and take some risk to evaluate the situation by myself.
I found out in Feb. 2019 I sold VIGRX fund in Feb. 2002 with loss $1900, originally I bought $3000.00 dollars in 2001; later in Oct. 2002, I purchased most expensive laptop in my life, SONY.
If I hold the fund VIGRX, then it is worth $10,000 US dollars.
I remembered that I told my friend in 2002, I helped the economy, I paid my mom to visit Florida second time after I lost the job in 2001; I purchased the laptop in 2002; I gave away cash $2000 US dollars for expense of my mom's trip in China.
I will look into this issue later. Once I learn more about personal finance, I should have ideas how to think and make personal finance decisions.
Introduction
It is my personal finance research. I spent time to review my IRA CD performance from 1999 to 2019, and then I came cross my 2009 credit report paper copy. I searched the hard disk but I could not find the electronic copy. I like to case study the credit report.
Case study
Best buy/ HSBC
opened on 04/2002, high balance $1964.00 for SONY laptop I purchased.
Home depot/ citibank
Date opened
07/2003
high balance
$3590
I put tiles on the floor and paid home depot to hire the contractor in 2003.
Actionable Items
I like to push myself learn personal finance. One idea is to look into those financial data, and learn from the experience. What mistakes I have made in those years.
One of ideas to lower the risk and cost reduction is to purchase used car, and cheap laptop, and carefully monitor the expenses. I should pay attention to mini leaks and major leaks in terms of annual report, decade report.
I also have to learn how to be an intelligent person, avoid emotional decision making; I should always consider alternative cheap ways to solve problems. I should not pay any expensive service from any one in the world. I just use common sense and take some risk to evaluate the situation by myself.
Big mistake in 2002
I found out in Feb. 2019 I sold VIGRX fund in Feb. 2002 with loss $1900, originally I bought $3000.00 dollars in 2001; later in Oct. 2002, I purchased most expensive laptop in my life, SONY.
If I hold the fund VIGRX, then it is worth $10,000 US dollars.
I remembered that I told my friend in 2002, I helped the economy, I paid my mom to visit Florida second time after I lost the job in 2001; I purchased the laptop in 2002; I gave away cash $2000 US dollars for expense of my mom's trip in China.
I will look into this issue later. Once I learn more about personal finance, I should have ideas how to think and make personal finance decisions.
MoneyTrack Ep. 201: A True Investing 101
Here is the link.
17:12/ 26:58
Investing 101 with Guest professor
John Bogle
18:16/ 26:53
Your emotions can make or break your success.
Your emotion tells you to buy when it is high.
Your emotion tells you to sell when it is low.
Balance stock with bonds to stabilize your
19:17/ 26:53
Why do index funds cost less?
- Low overhead costs.
- No need for money managers.
Why are Index Funds so popular?
You keep the profit.
17:12/ 26:58
Investing 101 with Guest professor
John Bogle
18:16/ 26:53
Your emotions can make or break your success.
Your emotion tells you to buy when it is high.
Your emotion tells you to sell when it is low.
Balance stock with bonds to stabilize your
19:17/ 26:53
Why do index funds cost less?
- Low overhead costs.
- No need for money managers.
Why are Index Funds so popular?
You keep the profit.
Friday, February 1, 2019
Case study: 2006 check book transaction log
Feb. 1, 2019
It is my personal finance research. I did not keep the checking account transaction log with my handwriting, the only one I had with less than 12 months transactions in 2006. I spent time today to enter all transaction into excel first.
It shows me the attitude towards money. I did not spend enough time to prepare my records. I was an emotional person, I was too busy to learn basic Excel sheet skills. I did not spend efforts to put together all transaction in Excel sheet and then tried to analyze them.
I noticed that the personal finance habit is the new word for me. I only started to work on my personal finance research three months ago. I am a new baby with three months experience.
In order to learn to grow rich, build wealth, I have to push myself hard to review all paper records I have. I am still searching possible ways I can recover my finance data.
Introduction
It is my personal finance research. I did not keep the checking account transaction log with my handwriting, the only one I had with less than 12 months transactions in 2006. I spent time today to enter all transaction into excel first.
Case study
It shows me the attitude towards money. I did not spend enough time to prepare my records. I was an emotional person, I was too busy to learn basic Excel sheet skills. I did not spend efforts to put together all transaction in Excel sheet and then tried to analyze them.
I noticed that the personal finance habit is the new word for me. I only started to work on my personal finance research three months ago. I am a new baby with three months experience.
In order to learn to grow rich, build wealth, I have to push myself hard to review all paper records I have. I am still searching possible ways I can recover my finance data.
Thursday, January 31, 2019
Tony Robbins: Ways to Master Anything ( Tony Robbins Coaching )
Here is the link.
5:58/ 29:16
Goal - power of goal setting
Conditioning yourself to succeed.
Ultimate performance technology
5:58/ 29:16
Goal - power of goal setting
Conditioning yourself to succeed.
Ultimate performance technology
"Become OBSESSED With SUCCESS!" - Tony Robbins (@TonyRobbins) - Top 10 Rules
MONEY MASTER THE GAME- By Tony Robbins EXPLAINED!
Jan. 31, 2019
Introduction
It is my personal finance research. I like to spend more time to learn how to save money, play more defense game.
Take my notes
0:44
Offense wins games. Defense wins championships
1. How to make more money?
2. How to get a raise?
3. How to get a better job?
- Saving
- Diversification
- Cutting expense
- Budgeting
- Tax strategies
Introduction
It is my personal finance research. I like to spend more time to learn how to save money, play more defense game.
Take my notes
0:44
Offense wins games. Defense wins championships
1. How to make more money?
2. How to get a raise?
3. How to get a better job?
- Saving
- Diversification
- Cutting expense
- Budgeting
- Tax strategies
Friends working in Apple.com
From the article
MARKET VALUE: $725.1 billion
DIVIDEND YIELD: 1.9%
ANALYSTS’ OPINION: 11 strong buy, 1 buy, 17 hold, 0 sell, 0 strong sell
Not too long ago, Apple (AAPL, $153.30) was making headlines for being the first U.S. company to top $1 trillion in market value. My, how times change – and fast. AAPL stock has lost about a third of its value since topping out in early October 2018, erasing about $275 billion in market value along the way. Investors are terrified that the company’s iPhone growth engine is finally starting to sputter.
But value investors, notably Warren Buffett, know that Apple’s long-term prospects rest on more than just that single shiny gadget. That’s why Buffett’s Berkshire Hathaway has absolutely piled into Apple’s stock over the past few years. Indeed, Berkshire, with its 5.3% stake in Apple, is now the company’s third-largest shareholder.
Friends working in Google
Google
I like to write something about Google and what I know about Google. I learned Google culture more than 2 months in 2017.
Of course, I am too late to purchase Google stock. It was $247 dollar one share in 2007, the price is over $1000 dollar a share. I wish that I can have 10 shares of Google stock in short future. That is $10,000 us dollars. How to get the shares? Work hard! Play google foobar problem set?
I know less than 10 people working in Google right now. So I can say that I should not have too many friends in Google.
I like to write something about Google and what I know about Google. I learned Google culture more than 2 months in 2017.
Of course, I am too late to purchase Google stock. It was $247 dollar one share in 2007, the price is over $1000 dollar a share. I wish that I can have 10 shares of Google stock in short future. That is $10,000 us dollars. How to get the shares? Work hard! Play google foobar problem set?
I know less than 10 people working in Google right now. So I can say that I should not have too many friends in Google.
How much money I can invest on stock market?
Jan. 31, 2019
It is my personal finance research. I like to learn personal finance, one of topics is about stock market. I will continue to learn. One of questions is how much money I can invest on stock market.
Introduction
It is my personal finance research. I like to learn personal finance, one of topics is about stock market. I will continue to learn. One of questions is how much money I can invest on stock market.
11 Great Stocks to Buy and Hold for the Next Decade
Jan. 31, 2019
It is my personal finance research. I have to push myself hard and figure out how to build wealth and grow rich. I started from Nov. 2018, before I am too emotional to play with my personal finance, now I am a self-learner in my personal finance, three month old, reborn in Nov. 2018. I like to read this article and learn 10 more companies.
Here is the link.
Introduction
It is my personal finance research. I have to push myself hard and figure out how to build wealth and grow rich. I started from Nov. 2018, before I am too emotional to play with my personal finance, now I am a self-learner in my personal finance, three month old, reborn in Nov. 2018. I like to read this article and learn 10 more companies.
10 great companies
Here is the link.
Case study: 979. Distribute coins in binary tree
Jan. 31, 2019
It is my mock interview lasting 100 minutes from 10:00 PM to 11:40 PM PST. I was so surprised since the interviewee is in eastern time zone, and start time is 1:00 AM EST. I like to write a case study on the mock interview
It is my favorite algorithm. I like to learn more about the algorithm through the mock interview. The interviewee has good education, very good communication skills, new graduate from top university, good job experience; I need to learn how to help and exchange ideas, make myself more helpful to contribute ideas.
We had very good discussion to explore the problem in depth after he solved the problem, tested the code with a test case.
I also review JavaScript programming language.
Here are interview in detail:
1. The discussion, ideas we discussed
2. JavaScript code with a test case
3. The discussion after the mock interview
I will come back with more detail.
Here is more...
One thing both of us learned in the discussion is how to calculate each edge in the tree once. We count the traffic to transfer coins through each edge. We like to count each edge once, the pseudo code above will count some edge more than once.
Interviewee feedback
Interviewer feedback
More discussion
I shared my experience in the contest of 120, I had problems to come out the optimal solution. Where to start? I thought about finding a node with zero coin first, and then I need to find a node with extra coins in the tree, but in order to get minimum coins, I cannot just find any node with extra coins. This makes the problem hard to solve.
Secondly, I have math undergraduate degree. I know that we have to prove that the optimal solution using post order bottom up is minimum value. How to prove it?
We had discussion and that is the reason we took extra time to explore those topics.
Introduction
It is my mock interview lasting 100 minutes from 10:00 PM to 11:40 PM PST. I was so surprised since the interviewee is in eastern time zone, and start time is 1:00 AM EST. I like to write a case study on the mock interview
Case study
It is my favorite algorithm. I like to learn more about the algorithm through the mock interview. The interviewee has good education, very good communication skills, new graduate from top university, good job experience; I need to learn how to help and exchange ideas, make myself more helpful to contribute ideas.
We had very good discussion to explore the problem in depth after he solved the problem, tested the code with a test case.
I also review JavaScript programming language.
Here are interview in detail:
1. The discussion, ideas we discussed
2. JavaScript code with a test case
3. The discussion after the mock interview
I will come back with more detail.
Here is more...
One thing both of us learned in the discussion is how to calculate each edge in the tree once. We count the traffic to transfer coins through each edge. We like to count each edge once, the pseudo code above will count some edge more than once.
Interviewee feedback
Interviewer feedback
More discussion
I shared my experience in the contest of 120, I had problems to come out the optimal solution. Where to start? I thought about finding a node with zero coin first, and then I need to find a node with extra coins in the tree, but in order to get minimum coins, I cannot just find any node with extra coins. This makes the problem hard to solve.
Secondly, I have math undergraduate degree. I know that we have to prove that the optimal solution using post order bottom up is minimum value. How to prove it?
We had discussion and that is the reason we took extra time to explore those topics.
Wednesday, January 30, 2019
2017 monthly expenses
Jan. 30, 2019
It is my personal finance research. I spent a few hours to work on 2017 Scotia bank checking account and also credit card statement month by month, the monthly expense average in 2017 is $1,300 dollars. I like to analyze this expenses.
Based on my analysis, I spent $500 dollars for grocery each month. My car insurance annual expense is $1,400. Compared to my asset in Canadian dollars, I need to low my grocery expense from $500 dollars to $300 dollars.
I spent $200 month in Costco, $200 dollars for crystal mall using cash, and $100 dollars on credit card for grocery. I need to lower the cost to $300 dollars.
One of ideas is to set a capped amount $40 dollar for each shopping trip in Costco.
I have to go through Scotia check account, Scotia visa credit card statement, and then I need to put all transactions into an excel sheet, and mark the category; I pay Costco shopping using my Scotia debit card, and then withdraw cash to do grocery shopping in crystall mall, and also I use Scotia credit card to pay grocery as well.
I worked very hard in 2017 to reduce the expenses. I did not shop any clothes. I repaired my flat tire instead of replacing four new tires. I wrote a blog called my office. I wrote a few blogs related to my car maintenance and I like to look into how I should learn the basics to avoid scam.
I need to cut down the expense on grocery shopping. I need to cut down the bill to $300 instead of $500 Canadian dollars.
Introduction
It is my personal finance research. I spent a few hours to work on 2017 Scotia bank checking account and also credit card statement month by month, the monthly expense average in 2017 is $1,300 dollars. I like to analyze this expenses.
My analysis
Based on my analysis, I spent $500 dollars for grocery each month. My car insurance annual expense is $1,400. Compared to my asset in Canadian dollars, I need to low my grocery expense from $500 dollars to $300 dollars.
I spent $200 month in Costco, $200 dollars for crystal mall using cash, and $100 dollars on credit card for grocery. I need to lower the cost to $300 dollars.
One of ideas is to set a capped amount $40 dollar for each shopping trip in Costco.
Technical detail
I have to go through Scotia check account, Scotia visa credit card statement, and then I need to put all transactions into an excel sheet, and mark the category; I pay Costco shopping using my Scotia debit card, and then withdraw cash to do grocery shopping in crystall mall, and also I use Scotia credit card to pay grocery as well.
Actionable Items
I worked very hard in 2017 to reduce the expenses. I did not shop any clothes. I repaired my flat tire instead of replacing four new tires. I wrote a blog called my office. I wrote a few blogs related to my car maintenance and I like to look into how I should learn the basics to avoid scam.
I need to cut down the expense on grocery shopping. I need to cut down the bill to $300 instead of $500 Canadian dollars.
Money and experience
Jan. 30, 2019
It is the statement like this. Some one has money and get experience. And some one has experience and get money. I like to work on this as a small research topic for 10 to 20 minutes.
Introduction
It is the statement like this. Some one has money and get experience. And some one has experience and get money. I like to work on this as a small research topic for 10 to 20 minutes.
The Incredible Shrinking Middle Class
Here is the link.
2000 jobs finance loss in 2008 in San Diego area, highest pay is around $73,000 dollars.
2000 jobs finance loss in 2008 in San Diego area, highest pay is around $73,000 dollars.
weekly contest 121
Jan. 31, 2019
I chose to go to Chinese party in the city of Surrey, so I did not play the contest. But my ranking is 2173/ 3924. So many people did not play the contest or could not score.
The contest was hold on Jan. 26, last Saturday 8:00 PM. Today is Thursday, I found time to work on the contest, and I felt that the algorithms are so tough to work on. I have not written any code last week, it is so challenging for me to work on algorithm now.
984. String Without AAA or BBB
Introduction
I chose to go to Chinese party in the city of Surrey, so I did not play the contest. But my ranking is 2173/ 3924. So many people did not play the contest or could not score.
Catch up
The contest was hold on Jan. 26, last Saturday 8:00 PM. Today is Thursday, I found time to work on the contest, and I felt that the algorithms are so tough to work on. I have not written any code last week, it is so challenging for me to work on algorithm now.
984. String Without AAA or BBB
Code screen
Jan. 30, 2019
It is my personal finance research. I like to write a blog related to my code screen in December 2018 from one of Japanese company. My ex-coach works there, I could not pass the code screen.
I have to push myself to learn more algorithms, and one of ideas I have is to meet more people from interviewing.io, and work on a few algorithms and learn how to master one or two algorithms first.
Introduction
It is my personal finance research. I like to write a blog related to my code screen in December 2018 from one of Japanese company. My ex-coach works there, I could not pass the code screen.
Tough to play in two hours
I have to push myself to learn more algorithms, and one of ideas I have is to meet more people from interviewing.io, and work on a few algorithms and learn how to master one or two algorithms first.
Personal finance startup
Jan. 30, 2019
It is my project management training. I also give some tasks for me to work on. One is to study the company called tally.inc. Here is the linkedin profile.
Introduction
It is my project management training. I also give some tasks for me to work on. One is to study the company called tally.inc. Here is the linkedin profile.
Another startup company
Jan. 29, 2019
It is my personal finance research. I like to move my focus on personal finance research in 2019. I got a few messages from startup companies this year. I just could not believe that startup company starts to reach to me, even though I am not financial independent yet. I need a stable job to make a living.
I also plan to learn more about startup companies in Vancouver and also in California.
Introduction
It is my personal finance research. I like to move my focus on personal finance research in 2019. I got a few messages from startup companies this year. I just could not believe that startup company starts to reach to me, even though I am not financial independent yet. I need a stable job to make a living.
Learn from startup companies
I also plan to learn more about startup companies in Vancouver and also in California.
Tuesday, January 29, 2019
First praise from gmail
Jan. 29, 2019
It is my personal finance research. I choose to write blogs every day and every time I like to take breaks. I think that the hard work will teach me something, patience and learn to be a problem solver.
One of ideas is to reach out people and help build good community in terms of algorithm and data structure problem solving. I could not explore linkedin since linkedin.com starts to block all my research since I reach the non-commercial limit.
I got one complaint about my Leetcode discuss, and one down vote; what I did is to delete the discuss post, and rewrite the post and learn to focus on sharing main ideas to solve the problem. Do not write my failures in the contest at all.
Today I got the email message from gmail:
Introduction
It is my personal finance research. I choose to write blogs every day and every time I like to take breaks. I think that the hard work will teach me something, patience and learn to be a problem solver.
My plan
One of ideas is to reach out people and help build good community in terms of algorithm and data structure problem solving. I could not explore linkedin since linkedin.com starts to block all my research since I reach the non-commercial limit.
I got one complaint about my Leetcode discuss, and one down vote; what I did is to delete the discuss post, and rewrite the post and learn to focus on sharing main ideas to solve the problem. Do not write my failures in the contest at all.
Today I got the email message from gmail:
How To Make 12% Annually ... Forever
Jan. 29, 2019
It is my personal finance. I really like to push myself to learn something new. One way is to read the article and then figure out more sense related to Verizon stock and its dividend and fluctuate.
Here is the article.
I already transferred one thousand US dollar from my US chase bank to Ameritrade.com in January 2019. I like to try one stock first.
Introduction
It is my personal finance. I really like to push myself to learn something new. One way is to read the article and then figure out more sense related to Verizon stock and its dividend and fluctuate.
Here is the article.
Motivation
I already transferred one thousand US dollar from my US chase bank to Ameritrade.com in January 2019. I like to try one stock first.
DNA test result
Jan. 29, 2019
It is my personal finance research. I had to pay over $600 Canadian dollars and today the result is in my gmail box. I plan to read the report carefully, and the result is 99.99% probability that sibling test is true.
Introduction
It is my personal finance research. I had to pay over $600 Canadian dollars and today the result is in my gmail box. I plan to read the report carefully, and the result is 99.99% probability that sibling test is true.
MP's Bill Gates as a compliment
Jan. 29, 2019
It is my personal finance research. Today we had a new sale manager to visit our office and he will start to work next Monday. My boss told the sales manager that this is Julia, she is our(?) MP(?) Bill Gates. That is best compliment I hear in my whole life.
Introduction
It is my personal finance research. Today we had a new sale manager to visit our office and he will start to work next Monday. My boss told the sales manager that this is Julia, she is our(?) MP(?) Bill Gates. That is best compliment I hear in my whole life.
Verizon stock $58, 4.15% dividend
Jan. 29, 2019
It is my personal finance research. I need to look into 20 stocks and I like to own 20 stocks in the future. Verizon is my first stock research to look into.
Introduction
It is my personal finance research. I need to look into 20 stocks and I like to own 20 stocks in the future. Verizon is my first stock research to look into.
10 years waiting time
Jan. 29, 2019
It is my personal finance research. I started my personal finance research, recently I added $1200 dollars to RRSP and then invest $3,000 Canadian dollar on January 29, 2019 to Scotia US index fund. I like to continue to study more personal finance research before I come out my plan to work on my Par technology 401K.
I sold my funds in Par 401 K with $2500 dollars loss. I did not spend time to learn the stock market and economy, since I had to start to appeal for leave for my Canadian immigration case. I felt so frustrated.
I put the money into money market from 2009 to 2019. After 10 years, my balance is $6100, originally I invested $8000 us dollars into 401K in 2007.
I like to push myself to learn more, and I like to evaluate myself learning ability before I plan to invest those $6,000 US dollars into Vanguard growth index fund.
Introduction
It is my personal finance research. I started my personal finance research, recently I added $1200 dollars to RRSP and then invest $3,000 Canadian dollar on January 29, 2019 to Scotia US index fund. I like to continue to study more personal finance research before I come out my plan to work on my Par technology 401K.
10 years waiting time
I sold my funds in Par 401 K with $2500 dollars loss. I did not spend time to learn the stock market and economy, since I had to start to appeal for leave for my Canadian immigration case. I felt so frustrated.
I put the money into money market from 2009 to 2019. After 10 years, my balance is $6100, originally I invested $8000 us dollars into 401K in 2007.
I like to push myself to learn more, and I like to evaluate myself learning ability before I plan to invest those $6,000 US dollars into Vanguard growth index fund.
Billionaires don't risk anything for only 10%
Jan. 29, 2019
It is one of rules I learned from the book review. Here is the video called Money master the game review - Tony Robbin's 7 Simple Steps To Financial Freedom.
Introduction
It is one of rules I learned from the book review. Here is the video called Money master the game review - Tony Robbin's 7 Simple Steps To Financial Freedom.
Tony Robbins' Money: Master the Game - #MentorMeTony
Here is the link.
1. Start now
You can't wait until ...
You have to invest ...
Automate: You save it automatically every month 20%
2. Learn the rules
Be the insider.
9 myths - fee does not matter, 1%
The amount of difference - You take all the risks, take all the losses. I get paid to take 60%.
Average mutual fund - 3.25% or 4.25%
Vanguard talked to him, 1% gives away, 60% rob away
14 base point - 0.25% - become the insider
3. Increase your hunger
4. Risk for valuable returns
5. Understand asset allocation
6.
1. Start now
You can't wait until ...
You have to invest ...
Automate: You save it automatically every month 20%
2. Learn the rules
Be the insider.
9 myths - fee does not matter, 1%
The amount of difference - You take all the risks, take all the losses. I get paid to take 60%.
Average mutual fund - 3.25% or 4.25%
Vanguard talked to him, 1% gives away, 60% rob away
14 base point - 0.25% - become the insider
3. Increase your hunger
4. Risk for valuable returns
5. Understand asset allocation
6.
Buy more culture
Jan. 29, 2019
It is my personal finance research. I have buy more culture problem, I like to look into this topic.
Introduction
It is my personal finance research. I have buy more culture problem, I like to look into this topic.
A blueprint for building wealth
Here is the link.
2:43 Ron Weiner
Rdm financial group president
There are old pilot, bold pilot, but there is no old bold pilot.
3:24/ 5:21
@Matthew McCall
Penn Financial group founder & president
3:54
@scottien hughes
TPNN.com new director
5:04
@JimAwad
Plimsoll mark capital managing director
0:43
2014 High net worth household trends
$5,000,000+ 1.31 M +5.6%
$1,000,000+ 10.1M +4.9%
$50,000 15.9M +3.9%
$100,000 39.6M +2.5%
2:43 Ron Weiner
Rdm financial group president
There are old pilot, bold pilot, but there is no old bold pilot.
3:24/ 5:21
@Matthew McCall
Penn Financial group founder & president
3:54
@scottien hughes
TPNN.com new director
5:04
@JimAwad
Plimsoll mark capital managing director
0:43
2014 High net worth household trends
$5,000,000+ 1.31 M +5.6%
$1,000,000+ 10.1M +4.9%
$50,000 15.9M +3.9%
$100,000 39.6M +2.5%
Monday, January 28, 2019
Make my own snack at work
Jan. 28, 2019
It is my personal finance research. I used to purchase pecan, walnuts or cashew from Costco all the time from 2010 to 2018. But I like to reduce the cost of expenses. I like to figure out how to make snack at work using cheap alternative ones, fresh peanuts, I can make peanut salted snack in less than 2 minutes using microwave.
Make my own snack
The idea is to lower grocery cost monthly. I am doing research to look into ideas how to feed myself unprocessed food; I like to process food by myself to ensure that I have good nutrition.
Introduction
It is my personal finance research. I used to purchase pecan, walnuts or cashew from Costco all the time from 2010 to 2018. But I like to reduce the cost of expenses. I like to figure out how to make snack at work using cheap alternative ones, fresh peanuts, I can make peanut salted snack in less than 2 minutes using microwave.
Make my own snack
The idea is to lower grocery cost monthly. I am doing research to look into ideas how to feed myself unprocessed food; I like to process food by myself to ensure that I have good nutrition.
The stock market is to transfer money from impatient people to patient people
Jan. 28, 2019
It is the statement I learned from Tony Robbins. "The stock market is to transfer money from impatient people to patient people". I like to write a blog based on this statement.
I was an impatient person from 1998 to 2001. I also was an impatient person in 2002 since I sold VIGRX mutual fund as a loss; I was an impatient person in 2008 and 2009.
I like to share what I wrote in 2009 about my thought process.
Introduction
It is the statement I learned from Tony Robbins. "The stock market is to transfer money from impatient people to patient people". I like to write a blog based on this statement.
Impatient person
I was an impatient person from 1998 to 2001. I also was an impatient person in 2002 since I sold VIGRX mutual fund as a loss; I was an impatient person in 2008 and 2009.
I like to share what I wrote in 2009 about my thought process.
Tony Robbins On "UNSHAKEABLE: Your Financial Freedom Playbook"
Here is the link.
2:30 / 37:40
when in 2008, if you do not sell, then you do not lose the money.
Julia's notes:
Even you sell, you should have good personal finance habit. Review the transactions every year, get back in.
24:00
Questions and answers
Get in the market. Do nothing. Do not react. Do not try to beat the market.
Stock market is the game to transfer money from impatient people to patient people.
24:00
Worst day -
Dollar cost average - average out - 20 years later
Do not react
Stay in the market
I plan to study 3 more hours from Tony Robbins interview. I plan to put my Par Siva 401 K into stock market again. This time I will learn how to take loss, be patient, do not react.
2:30 / 37:40
when in 2008, if you do not sell, then you do not lose the money.
Julia's notes:
Even you sell, you should have good personal finance habit. Review the transactions every year, get back in.
24:00
Questions and answers
Get in the market. Do nothing. Do not react. Do not try to beat the market.
Stock market is the game to transfer money from impatient people to patient people.
24:00
Worst day -
Dollar cost average - average out - 20 years later
Do not react
Stay in the market
Actionable Items
I plan to study 3 more hours from Tony Robbins interview. I plan to put my Par Siva 401 K into stock market again. This time I will learn how to take loss, be patient, do not react.
How to Get RICH | Unshakeable by Tony Robbins | 10 BEST Ideas | Book Summary
Here is the link.
Wealth tax - 20%
Compounding
10,000 year, put into 5% interest 30 years; if interest goes to investment continuously, then
it will be $33,219.
10,000 year, put into 5% interest 30 years; all interests are taken out, then the value will be $15,000.
Julia's worksheet:
(1 + 0.05)^30 = 4.32194
0.05 * 30 = 1.5
Fear and chicken little
6:22/ 15:56
Stay the course - that is mantra to manage other people's money.
7:00/ 15:56
You cannot time the market. Stay in the market.
Big idea six
"If you do not plan to own the stock over 10 years. Do not plan to own 10 minutes."
Diversify four times
1. Asset class
2. Within asset class
3. Country
4. Stage of life
12:00
Last idea
Resource and technology
2001 purchase $3,000 dollar fund VIGRX, sold in 2002 with value $1,900
It is buy low and sell high. I sold $1,900 dollars with over $1000 dollar loss. I purchased in 2001 $3000 US dollar VIGRX fund.
2008 worst stock market crash -
I lost over $5,000 dollars and then I pulled out everything.
I lost over $3000 dollars on Par Siva 401K, and then I chose to purchase money market fund instead.
Wealth tax - 20%
Compounding
10,000 year, put into 5% interest 30 years; if interest goes to investment continuously, then
it will be $33,219.
10,000 year, put into 5% interest 30 years; all interests are taken out, then the value will be $15,000.
Julia's worksheet:
(1 + 0.05)^30 = 4.32194
0.05 * 30 = 1.5
Fear and chicken little
6:22/ 15:56
Stay the course - that is mantra to manage other people's money.
7:00/ 15:56
You cannot time the market. Stay in the market.
Big idea six
"If you do not plan to own the stock over 10 years. Do not plan to own 10 minutes."
Diversify four times
1. Asset class
2. Within asset class
3. Country
4. Stage of life
12:00
Last idea
Resource and technology
Relate to my experience
It is buy low and sell high. I sold $1,900 dollars with over $1000 dollar loss. I purchased in 2001 $3000 US dollar VIGRX fund.
2008 worst stock market crash -
I lost over $5,000 dollars and then I pulled out everything.
I lost over $3000 dollars on Par Siva 401K, and then I chose to purchase money market fund instead.
Money Master the Game by Tony Robbins Summary Easily Explained!!!
Here is 6 minutes video.
1:57/ 5:59
Become the insider...
Know the rules
9 Myths
1. So many damn fees nowadays!!!
2. Mutual fund beats the market
Mutual fund broker - Are you legally working in my best interest or just selling something???
Get yourself a FIDUCIARY
-Legally required to be in your best interest.
-Paid for the service of giving financial advice
(Does not get paid commission for financial products like mutual funds)
Big risk = big reward
3:29 /5:59
5 strategies ( to increase your value)
1. Earn more money & invest the difference.
2. Reduce fees & taxes. Invest the difference.
3. Save more money & invest the difference.
4. Maximize the return on your investments.
5. Alter your lifestyle for more money & invest the difference.
4:50/ 5:59
Invest like a billionaire
with these 4 principles
1. Do not lose money
2. Seek asymmetric risk/ reward (big gain, low risk.)
3. Anticipate Financial disasters
4. Never stop learning
Tony Robbins also does us a service in laying out his method, towards achieving financial freedom, into 7 simple steps. Step 1 – Commit to paying yourself a percentage of your income towards your freedom fund. Put the money aside for your investment and don’t touch it. Decide to become a investor not just a consumer. Step 2 – Become the Insider: Know the Rules before you get in the game. Tony reveals the 9 myths around money to become aware of. Step 3 – Make the Game winnable. The financial system we live in is rigged and if you do not know the rules of the game the odds are against you and the house will always win. However if you know the rules of the game and play accordingly then the game is winnable for you still. Step 4 - Make the most important financial decision of your life. Asset Allocation. Determine your risk tolerance and invest correctly and intelligently. Step 5 – Create a lifetime Income Plan. Imagine having a income for life that pays you every month! And the check for life can afford you the life of your dreams. Step 6 – Invest like a billionaire. Tony Robbins elaborates this step into 4 principles, which is explained in the video. A common trait amongst all the successful billionaires he interviews had a similar trait; a relentless hunger and pursuit of knowledge with a will to win. Step 7- Live the rich life. Enjoy your money and life. Be aware that the goal is not to be the richest person in the graveyard. Tony Robbins explains the secret to living, which is something that has been apart of his teaching for a long time. The secret to living is giving. This book has the power to change anyone’s perspective of money and actual financial state given they apply the principals in the book. Remember that knowledge is not power applied knowledge is power. It’s not what you know, but what you do with what you know that will determine your outcome.
1:57/ 5:59
Become the insider...
Know the rules
9 Myths
1. So many damn fees nowadays!!!
2. Mutual fund beats the market
Mutual fund broker - Are you legally working in my best interest or just selling something???
Get yourself a FIDUCIARY
-Legally required to be in your best interest.
-Paid for the service of giving financial advice
(Does not get paid commission for financial products like mutual funds)
Big risk = big reward
3:29 /5:59
5 strategies ( to increase your value)
1. Earn more money & invest the difference.
2. Reduce fees & taxes. Invest the difference.
3. Save more money & invest the difference.
4. Maximize the return on your investments.
5. Alter your lifestyle for more money & invest the difference.
4:50/ 5:59
Invest like a billionaire
with these 4 principles
1. Do not lose money
2. Seek asymmetric risk/ reward (big gain, low risk.)
3. Anticipate Financial disasters
4. Never stop learning
Tony Robbins also does us a service in laying out his method, towards achieving financial freedom, into 7 simple steps. Step 1 – Commit to paying yourself a percentage of your income towards your freedom fund. Put the money aside for your investment and don’t touch it. Decide to become a investor not just a consumer. Step 2 – Become the Insider: Know the Rules before you get in the game. Tony reveals the 9 myths around money to become aware of. Step 3 – Make the Game winnable. The financial system we live in is rigged and if you do not know the rules of the game the odds are against you and the house will always win. However if you know the rules of the game and play accordingly then the game is winnable for you still. Step 4 - Make the most important financial decision of your life. Asset Allocation. Determine your risk tolerance and invest correctly and intelligently. Step 5 – Create a lifetime Income Plan. Imagine having a income for life that pays you every month! And the check for life can afford you the life of your dreams. Step 6 – Invest like a billionaire. Tony Robbins elaborates this step into 4 principles, which is explained in the video. A common trait amongst all the successful billionaires he interviews had a similar trait; a relentless hunger and pursuit of knowledge with a will to win. Step 7- Live the rich life. Enjoy your money and life. Be aware that the goal is not to be the richest person in the graveyard. Tony Robbins explains the secret to living, which is something that has been apart of his teaching for a long time. The secret to living is giving. This book has the power to change anyone’s perspective of money and actual financial state given they apply the principals in the book. Remember that knowledge is not power applied knowledge is power. It’s not what you know, but what you do with what you know that will determine your outcome.
Money, Mater the game - by Tony Robbins
Jan. 28, 2019
It is my personal finance research. I like to read a few pages about book called Money, "master the game". Here is 11:25 minutes video about the book.
Introduction
It is my personal finance research. I like to read a few pages about book called Money, "master the game". Here is 11:25 minutes video about the book.
Relatives are not family
Jan. 28, 2019
It is my personal finance research. I am a single person whole life, I have difficulty to separate from my family from relatives. I like to push myself to learn how to correct my behavior and reduce expenses on vacation trip in China, cash gift and learn how to stay in budget, and no more impulsive shopping and pay relative's bill for parties etc.
Personal finance is such tough research project I have to work on. In order to solve my housing problem in Vancouver area, I like to push myself to examine all possible factors I should learn and examine carefully.
I am my own family. I need to do more case study how single affects me in terms of law, benefit and other concerns based on my experience.
Introduction
It is my personal finance research. I am a single person whole life, I have difficulty to separate from my family from relatives. I like to push myself to learn how to correct my behavior and reduce expenses on vacation trip in China, cash gift and learn how to stay in budget, and no more impulsive shopping and pay relative's bill for parties etc.
Personal finance research
Personal finance is such tough research project I have to work on. In order to solve my housing problem in Vancouver area, I like to push myself to examine all possible factors I should learn and examine carefully.
I am my own family. I need to do more case study how single affects me in terms of law, benefit and other concerns based on my experience.
2014 citi credit card statements
Jan. 28, 2019
It is my personal finance research. Based on my rental analysis, I spent over $4,000 dollars on citi credit card in 2014. I ordered 2014 12 months statements from citi bank today.
Introduction
It is my personal finance research. Based on my rental analysis, I spent over $4,000 dollars on citi credit card in 2014. I ordered 2014 12 months statements from citi bank today.
Case study: January 2019 grocery shopping
Jan. 28, 2019
It is my personal finance research. I like to learn how to live under my means. I like to cut down my grocery expense, so I can learn how to push myself to stay in budget and also keep myself healthy as well.
I find out that I shop too much on Costco. So my last Costco shopping trip I learned to set limit to $40.00, so I can do more shopping in Crystall mall.
Here are the list:
Jan. 1- Jan. 18 will be added later.
Introduction
It is my personal finance research. I like to learn how to live under my means. I like to cut down my grocery expense, so I can learn how to push myself to stay in budget and also keep myself healthy as well.
Case study
I find out that I shop too much on Costco. So my last Costco shopping trip I learned to set limit to $40.00, so I can do more shopping in Crystall mall.
Here are the list:
Jan. 1- Jan. 18 will be added later.
Cash out from ATM $100 January 15, 2019
Jan. 18, 2019
$4.96
$4.96
Jan 20, 2019
Crystall mall shopping
$34.85
$34.85
ming ming trading
peanuts
peanuts
$5.19
Jan. 21, 2019
Terra Breads
$4.95
Terra Breads
$4.95
Jan. 23, 2019
Costco $36.85
Costco $36.85
Jan. 28, 2019
Crystall mall grocery shopping
$34.07
Crystall mall grocery shopping
$34.07
One pen, one paper, one diligent heart to write down every dollar expense. - Francis Kong
Case study: My scotia bank RRSP
Jan. 28, 2019
Introduction
It is my personal finance research. I make a decision to stop Scotia RRSP with Scotia income fund, and then purchased Scotia US index fund. I like to do a case study, and then I like to push myself to learn.
Introduction
It is my personal finance research. I make a decision to stop Scotia RRSP with Scotia income fund, and then purchased Scotia US index fund. I like to do a case study, and then I like to push myself to learn.
Track my car expense
Jan. 29, 2019
It is my personal finance research. I like to push myself hard how to save money and also self-learner. Today I had to fill a tank of gas again. I like to document the expense and start to figure out what I should study in terms of my driving habits, mileage, and preparation for maintenance budget etc.
Introduction
It is my personal finance research. I like to push myself hard how to save money and also self-learner. Today I had to fill a tank of gas again. I like to document the expense and start to figure out what I should study in terms of my driving habits, mileage, and preparation for maintenance budget etc.
Sunday, January 27, 2019
Being single is so challenging in personal finance
Jan. 27, 2019
Introduction
It is my personal finance research. I like to read the blogs first, here is the link.
Introduction
It is my personal finance research. I like to read the blogs first, here is the link.
Single, No Children: Who's Your Family?
Jan. 27, 2019
It is my personal finance research. I find out that I have spending problem on vacation and shopping and relatives to maintain the relationship as a relative. I like to look into this topic, "single, no children: who's your family?"
Introduction
It is my personal finance research. I find out that I have spending problem on vacation and shopping and relatives to maintain the relationship as a relative. I like to look into this topic, "single, no children: who's your family?"
Spent, spent, spent - pools winner now living on £87 a week
Here is the article link.
Back then, there was no network to support or advise big winners - possibly because hardly anyone had even won that much. Having promised to spend, not save, the naive young couple retreated to Yorkshire and recklessly proceeded to do just that.
Back then, there was no network to support or advise big winners - possibly because hardly anyone had even won that much. Having promised to spend, not save, the naive young couple retreated to Yorkshire and recklessly proceeded to do just that.
Historic '81 lottery winner Lou Eisenberg now living in mobile home
Here is the article.
He said he gave a big chunk of his winnings to his second ex-wife. He married a third time, but that didn't last either.
By 2001, after he cashed the last lottery check, he was broke.
This is Why So Many Lottery Winners Go Broke
Here is the article.
The old phrase: "A fool and his money are soon parted."
"This is the process by which wealth is accumulated; first in small sums, then in larger ones as a man learns and becomes more capable."
- The richest man in babylon
"After you become a millionaire, you can give all of your money away because what's important is not the million dollars; what's important is the person you have become in the process of becoming a millionaire." - Jim Rohn
The richest man in Babylon
"unearned gold: the fortune either makes wanton spenders who develop insatiable tastes, or hoarding misers who know they don't possess the ability to replace it."
Work to increase your capacity for success
Learn new skills
Focus on learning and creating, not distractions
Develop self-discipline. ("Discipline equals freedom," wrote Navy SEAL Jacok Willink)
Commit to values that will remain the same no matter how much (or little) money you get.
"Income seldom exceeds personal development." - Jim Rohn
The old phrase: "A fool and his money are soon parted."
"This is the process by which wealth is accumulated; first in small sums, then in larger ones as a man learns and becomes more capable."
- The richest man in babylon
"After you become a millionaire, you can give all of your money away because what's important is not the million dollars; what's important is the person you have become in the process of becoming a millionaire." - Jim Rohn
The richest man in Babylon
"unearned gold: the fortune either makes wanton spenders who develop insatiable tastes, or hoarding misers who know they don't possess the ability to replace it."
Work to increase your capacity for success
Learn new skills
Focus on learning and creating, not distractions
Develop self-discipline. ("Discipline equals freedom," wrote Navy SEAL Jacok Willink)
Commit to values that will remain the same no matter how much (or little) money you get.
"Income seldom exceeds personal development." - Jim Rohn
Why Many Lottery Winners End Up Broke
Here is the article.
"People who were little, ordinary people, all of a sudden become extraordinary. They're euphoric. Thy lose all sense of reality. They think they're invincible and powerful. They think they're Superman."
A lot of winners' friends and family treat them like human banks.
Believe it or not, most financial advisers agree that the biggest problems that lottery winners face are their family and friends. You may not fall into the trap of thinking your wealth is infinite, but escaping family or friends is another matter entirely. This one is a lot trickier.
Worse, if asking or demanding money from you won't work, there's a good chance some of them will resort to guilt trips and manipulation.
"People who were little, ordinary people, all of a sudden become extraordinary. They're euphoric. Thy lose all sense of reality. They think they're invincible and powerful. They think they're Superman."
A lot of winners' friends and family treat them like human banks.
Family and friends
Believe it or not, most financial advisers agree that the biggest problems that lottery winners face are their family and friends. You may not fall into the trap of thinking your wealth is infinite, but escaping family or friends is another matter entirely. This one is a lot trickier.
Worse, if asking or demanding money from you won't work, there's a good chance some of them will resort to guilt trips and manipulation.
Blindly Investing
You have to do your due diligence to succeed. The problem is that many lottery winners take them on without much scrutiny.
There's a reason that millionaires who got rich through hard work are less likely to go bankrupt compared to those that become rich overnight - they know exactly how to handle it and they surround themselves with the right people. It's not a bad thing to spend your money on nice things, but just like most things in life, do it responsibly and in moderation.
I used to work full time from 1998 December to 2001 September, I made net income over $110,000 dollars. But I ended up with less than $16,000 dollars when I got laidoff in Sept. 2001.
I bought a brand new car in 1999. What I should do is to be humble. Buy a used certified car in less than $5,000 dollars, spend time to learn how to handle my driving habits and controlling expenses. I should not replace my used car $1600 dollar over less than 3000 miles driving with a brand new car, over $19,000 dollars in finance.
There's a reason that millionaires who got rich through hard work are less likely to go bankrupt compared to those that become rich overnight - they know exactly how to handle it and they surround themselves with the right people. It's not a bad thing to spend your money on nice things, but just like most things in life, do it responsibly and in moderation.
Actionable Item
I used to work full time from 1998 December to 2001 September, I made net income over $110,000 dollars. But I ended up with less than $16,000 dollars when I got laidoff in Sept. 2001.
I bought a brand new car in 1999. What I should do is to be humble. Buy a used certified car in less than $5,000 dollars, spend time to learn how to handle my driving habits and controlling expenses. I should not replace my used car $1600 dollar over less than 3000 miles driving with a brand new car, over $19,000 dollars in finance.
8 big lottery winners whose money and luck ran out
Here is the link.
The winner needs to figure out day-to-day cash needs, insurance needs and emergency needs before anything else.
Case I:
William “Bud” Post III
“He did everything you would expect of a guy who became a millionaire overnight,” Lacher told the Pittsburgh Post-Gazette. “While you might buy one laptop, Bud would see the same laptop and buy 30.”
Case II:
“A few of my relatives were angry because I had so much.”
Case III:
Andrew “Jack” Whittaker, won $315 million dollars
Whittaker started drinking heavily. He was robbed often and said he was battling more than 400 legal complaints at one point.
Case IV:
Florida residents Alex and Rhoda Toth were downtrodden in 1990.
“It caused us to lose a lot of friends, some family members,” Rhoda Toth told the St. Petersburg Times in 1997.
A crash course in taxes is a must for lottery winners.
Case V:
Winning a $31 million Texas Lottery jackpot in 1997 initially looked to be a cure-all for Billie Bob Harrell Jr.’s financial woes.
But the endless pressure of strangers asking for money took a toll. Harrell was forced to change his home phone number more than once. He and his wife separated.
One of the first things to do is put together a list of people you trust and make one of them a buffer — someone who will deal with those who come out of the woodwork, because you now have a target on your wallet.
Case VI:
In 1993, Janite Lee, a South Korean immigrant, was running a wig shop in St. Louis when she won $18 million in the Illinois Lottery
Case VIII:
Denise Rossi had been married for a quarter century when she won $1.3 million in the California Lottery in 1996.
In 1999, a judge declared that Denise Rossi had violated state asset-disclosure laws. The result? Her ex-husband received all of her winnings.
I like to look into the following topics.
Case II: buy same laptop 30 of them.
I used to purchase shirts/ pants 6 dollar each pieces, i bought 8 pieces some time from 2010 to 2014, the total cost is $48.00 dollars plus tax. I used to go USA shopping jeans, I bought more than six pieces of jeans since I do not want to go shopping any more.
The idea is to set limit on my purchase. Do not buy any clothes anymore. Do not buy grocery each time more than $50 dollar in Costco. Do not purchase any grocery in crystall mall more than $50.00 dollars.
I also need to spend time to document each purchase with items in detail. Also I need to push myself to find time to generate monthly expense report.
Case VI:Gambling financially is never a good idea. But with CD rates on the rise, they’re a low risk way to earn an almost 3 percent return on your investment.
I sold VIGRX fund with one thousand dollar loss in 2002. And then I sold all stock and mutual fund after 2008, since the value of loss is more than $5,000 dollars.
So I have to learn to make my investment in stock market as a business. I need to document the purchase. Even if it is 50% of loss, it is still better for me to spend on vacation or shopping. Those items I can sell them with 10% of value easily.
The winner needs to figure out day-to-day cash needs, insurance needs and emergency needs before anything else.
Case I:
William “Bud” Post III
“He did everything you would expect of a guy who became a millionaire overnight,” Lacher told the Pittsburgh Post-Gazette. “While you might buy one laptop, Bud would see the same laptop and buy 30.”
Case II:
“A few of my relatives were angry because I had so much.”
Case III:
Andrew “Jack” Whittaker, won $315 million dollars
Whittaker started drinking heavily. He was robbed often and said he was battling more than 400 legal complaints at one point.
Case IV:
Florida residents Alex and Rhoda Toth were downtrodden in 1990.
“It caused us to lose a lot of friends, some family members,” Rhoda Toth told the St. Petersburg Times in 1997.
A crash course in taxes is a must for lottery winners.
Case V:
Winning a $31 million Texas Lottery jackpot in 1997 initially looked to be a cure-all for Billie Bob Harrell Jr.’s financial woes.
But the endless pressure of strangers asking for money took a toll. Harrell was forced to change his home phone number more than once. He and his wife separated.
One of the first things to do is put together a list of people you trust and make one of them a buffer — someone who will deal with those who come out of the woodwork, because you now have a target on your wallet.
Case VI:
In 1993, Janite Lee, a South Korean immigrant, was running a wig shop in St. Louis when she won $18 million in the Illinois Lottery
She also donated generously to Washington University, and its School of Law named a reading room after her.
But the annual, after-tax payments of $620,000 couldn’t match her spending.
When she filed for Chapter 7 bankruptcy protection in 2001, the extent of Lee’s debts became clear. She had only about $700 but owed $2.5 million, according to The Augusta Chronicle. And, she had lost nearly $350,000 gambling at casinos during one year.
Gambling financially is never a good idea. But with CD rates on the rise, they’re a low risk way to earn an almost 3 percent return on your investment.
Case VII:
Suzanne Mullins won $4.2 million in the Virginia Lottery in 1993. After she split the money with her family and taxes ate away some of the prize, her 20 annual payments of less than $50,000 weren’t remotely enough to lead a millionaire’s lifestyle.
Case VIII:
Denise Rossi had been married for a quarter century when she won $1.3 million in the California Lottery in 1996.
In 1999, a judge declared that Denise Rossi had violated state asset-disclosure laws. The result? Her ex-husband received all of her winnings.
Actionable Items
I like to look into the following topics.
Case II: buy same laptop 30 of them.
I used to purchase shirts/ pants 6 dollar each pieces, i bought 8 pieces some time from 2010 to 2014, the total cost is $48.00 dollars plus tax. I used to go USA shopping jeans, I bought more than six pieces of jeans since I do not want to go shopping any more.
The idea is to set limit on my purchase. Do not buy any clothes anymore. Do not buy grocery each time more than $50 dollar in Costco. Do not purchase any grocery in crystall mall more than $50.00 dollars.
I also need to spend time to document each purchase with items in detail. Also I need to push myself to find time to generate monthly expense report.
I sold VIGRX fund with one thousand dollar loss in 2002. And then I sold all stock and mutual fund after 2008, since the value of loss is more than $5,000 dollars.
So I have to learn to make my investment in stock market as a business. I need to document the purchase. Even if it is 50% of loss, it is still better for me to spend on vacation or shopping. Those items I can sell them with 10% of value easily.
Why So Many Lottery Winners Go Broke
It is my personal finance research. I like to learn from the topic. Here is the article link.
Statement:
lottery winners frequently become estranged from family and friends, and incur a greater incidence of depression, drug and alcohol abuse, divorce, and suicide than the average American.
I like to review those things in the article:
As soon as you start wearing nice jewelry, buying a new wardrobe or an expensive car, or giving cash to anyone, you’ll be outed. And everyone—parents, siblings, friends, neighbors, coworkers, charities, and strangers—will want some of your money. Many will ask for it and some will demand it, arguing that they would’ve shared their winnings with you if they had won. The guilt trips and manipulation will start quickly. Expect also to get plenty of investment pitches: Open a restaurant! Buy a car dealership! Put money into an oil well!
Be careful about those people:
Parents, siblings, friends, neighbors, coworkers, charities, and strangers
Ask for money or demand it
The guilt trips
Manipulation will start quickly
Investment pitches
Statement:
lottery winners frequently become estranged from family and friends, and incur a greater incidence of depression, drug and alcohol abuse, divorce, and suicide than the average American.
I like to review those things in the article:
As soon as you start wearing nice jewelry, buying a new wardrobe or an expensive car, or giving cash to anyone, you’ll be outed. And everyone—parents, siblings, friends, neighbors, coworkers, charities, and strangers—will want some of your money. Many will ask for it and some will demand it, arguing that they would’ve shared their winnings with you if they had won. The guilt trips and manipulation will start quickly. Expect also to get plenty of investment pitches: Open a restaurant! Buy a car dealership! Put money into an oil well!
Be careful about those people:
Parents, siblings, friends, neighbors, coworkers, charities, and strangers
Ask for money or demand it
The guilt trips
Manipulation will start quickly
Investment pitches
On The Money: My Money Story [Jason Lo]
Here is the link.
11:52 / 28:29
3 C's
1. Character
2. Competence - Resourcefulness, how you sell ideas
3. Contentment - Be content with what you have
11:52 / 28:29
3 C's
1. Character
2. Competence - Resourcefulness, how you sell ideas
3. Contentment - Be content with what you have
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