4 ways to trick your brain and build your wealth. Sadly, our brains aren’t wired to make us rich.
Thanks to evolutionary quirks in how we view the world and make decisions, behavioral economists tell us we often do exactly the wrong thing when it comes to money and accruing long-term wealth (such as with our savings accounts, our retirement accounts and sticking with budgets). Don’t despair, though. Big cities trade happiness for money: survey shows. If you’re feeling unhappy with the daily grind of city life, you’re not alone.
In fact, residents across some of America’s largest cities - including New York - are feeling the same way according to a new survey. A new research paper, published using data from the National Bureau for Economic Research (NBER) and co-authored by Harvard Kennedy School Professor Edward Glaeser, is shedding light on the nation’s unhappiest - and happiest - cities. Residents of bigger cities, like New York, are trading happiness for wages and higher levels of satisfaction, according to the study. In fact, the paper came to the conclusion that the unhappiest cities are willingly choosing to be less happy in exchange for higher incomes or lower housing costs.
They are choosing money over happiness. Warren Buffett on When to Sell a Stock — BRK-A, BRK-B — Investing Daily. With the stock market off to its best start since 1987, stocks may have gotten ahead of themselves and look primed for a correction to begin any day now.
Crystal-ball gazers predicting a stock-market crash include John Hussman and Joe Granville. Consequently, perhaps we should take a look at our portfolios with the aim of raising some cash and analyze which stocks are candidates to be sold? 7 Costly Car Rental Mistakes to Avoid. As Americans hit the road this summer, many will drive rental cars in other parts of the country or the world.
While rental cars can be convenient, the associated costs are often confusing. Here's a look at car rental mistakes that could cost you money -- and how to avoid them. 1. How Warren Buffett Separates a Good Business From a Great One. They say there's more than one way to skin a cat, and the investing legend Warren Buffett would likely agree.
For decades, Buffett produced one market-beating performance after another at Berkshire Hathaway (NYSE: BRK-A ) (NYSE: BRK-B ) , but he took a variety of paths to get where he is today. At times, he relied on the virtuous economic characteristics of what he calls a "wonderful" business; in other instances, however, it was his operating managers alone who were responsible for Berkshire's profits. The year 1990 was a prime example of the latter scenario. In Buffett's letter to shareholders, he commended Berkshire's astute managers who delivered impressive results in spite of otherwise challenging industry economics: Buy vs. Rent a Home: 3 Common Myths Busted. When weighing major life decisions, everyone seems to have the answer.
You should marry this person, drive that car, and have so many kids—all by a certain age. Never mind if it’s actually the best choice for you! Buying a House - Money 101, Lesson 8 - Money Magazine. 1.
Don't buy if you can't stay put. If you can't commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner - even in a rising market. When prices are falling, it's an even worse proposition. 7 Power Tools of Persuasion. Just about all entrepreneurs have experienced that warm, tingly feeling when they realize they’ve hatched a brilliant idea that could change an industry, make a meaningful impact and land them a fortune Perhaps the only thing standing between concept and cashing in is the clarity and persuasiveness with which this idea is pitched.
Sadly, this is no small obstacle. In fact, roughly two-thirds of all pitched ideas that are rejected, are not dismissed because they are bad ideas.They die on the vine because they were presented poorly. For entrepreneurs, a lack of persuasiveness when rallying support for an idea can be as detrimental to a business as an embezzling CFO. One-sentence financial rules. There are 56,956 personal finance books on Amazon.com. In aggregate, they contain more than 3 billion words. This seems absurd, because 99% of personal finance can be summarized in nine words: Work a lot, spend a little, invest the difference. Master that, and the other 2.999 billion words are filler. Cramer on Buffett: 'His luck's about to change' Jim Cramer is coming to Warren Buffett's defense.
This headline in The New York Times caught Cramer's eye: "The Oracle of Omaha, lately looking a bit ordinary. " The story cited a new statistical study by Salil Mehta that compared Berkshire Hathaway's performance to the benchmark S&P 500 stock index. While Buffett's company has beaten the market in 38 of the past 48 years, it has underperformed the S&P in four of the past five years. Mehta calculates there's only a 3% chance Buffett is suffering through a period of bad luck. 6 Ways to Analyze Your Creative Ideas. Great marketers, PR pros, and content creators have one thing in common--they use both creativity and analytics to develop their successful ideas.
Christine Perkett dubbed this type of thinking as “Creatalitics” and gave an excellent definition for the term: “[Creatalitic thinkers] combine really creative and innovative ideas--those ‘dreams and visions’ with data and analysis--the ‘blazes of insight’ that tell them if their creations go beyond initial appeal and into the world of actionable value to the company’s bottom line.”
Creativity is an important aspect of our jobs, but we should not neglect the warning signs from the left side of our brains pushing us to analyze our ideas. Here are six ways to put your creative ideas to the test to make sure they are worth your client’s investment. 1. Google it. 5 millionaire myths. Jaime Tardy, author of "Eventual Millionaire," spent more than three years interviewing over 130 millionaires from all walks of life to find out what makes them tick and what makes them different from us non-millionaire folks.
She identified a few misconceptions most people have about millionaires -- that most are born into wealth or that they just got lucky. Here are five myths that may surprise you. Fool. According to Warren Buffett, there are two simple and costly mistakes most of us make when managing our personal finances. Warren Buffett of Berkshire Hathaway is the third richest man on the planet, and knows a thing or two about success when it comes to money and investing. When he first took over Berkshire Hathaway in 1964, the book value of the company stood at US$19. At the end of last year it was US$114,214 – a growth rate of 19.7% every year for 48 years! Similarly, US$19 placed in the S&P 500, an American stock market index, would’ve only grown to around US$1,400 over that same time period.
7 Secrets Wealthy People Know about Amassing and Maintaining a Fortune. Becoming wealthy enough to keep the wolf from your door doesn't mean an end to unwanted callers. For every newly minted billionaire, there are cautionary tales of the well-heeled undone by visits from the the tax man, the loan officer and Uncle Sam himself. A fortune requires finesse. 4 Mistakes to Avoid When Repaying Your Student Loans. Student loan defaults have surged this year, with the U.S. Department of Education reporting 6.8 million federal student loan borrowers failing to make payments. What does that mean for student-loan payers across the nation? Buying a House - Money 101, Lesson 8 - Money Magazine.
Living in His Car, Cramer Developed Investment Strategy. Don't Forget Why Value Investing Works (BRK-A, BRK-B, MKL) Money 101 - Financial Advice & Lessons Made Easy by CNNMoney.com. Big winners share lessons, risks of Powerball win. The 8 Most Important Facts To Know About A Company Before You Invest. A better way to pay off debt. 13 Ways Americans Throw Away Money. Austerity vs. Stimulus: Spain and China Provide Another Test of Competing Ideas. Ultimate guide to guys' suits. Velshi: Economic storm coming. 7 Weird Ways to Hurt Your Credit Score. The true cost of an iPhone. 5 Ways to Increase Your Net Worth with Employee Benefits.
Fortune 500 Top 20. Why your personal brand matters. How the Richest 400 People in America Got So Rich. A Cheat Sheet on Tipping Do's and Don'ts. Meet the Money Manager Who Is Beating Berkshire Hathaway and Owns It Too. Nine Degrees That Put You on the Fast Track to $100K - Monster.com. Beat Bad Financial Habits to Boost Savings. The National Debt and Federal Budget Deficit Deconstructed - Tony Robbins. The Top 10 Million Dollar Mistakes Made By Successful Entrepreneurs. 5 Keys To Financial Success. Advice From 100 Successful Entrepreneurs On Starting Your Own Business. Top 5 Tips for a Tiptop Credit Score. 5 Reasons You Don't Really Want to Win all that Lottery Money. 10 Things You Should Always Buy in Bulk. 12 Scary Debt Facts for 2012. How To Be A Millionaire. Chris Anderson of WIRED on tech's Long Tail.