Home Wall - The Phil Hendrie Show Inveduco Articles Laura's Official Home On The Web one thing you should teach your kids about money Frederick M. Brown / Stringer / Getty ImagesTony Robbins, multimillionaire and author of the New York Times bestseller, "MONEY: Master The Game." American children are not being taught personal finance basics — only 25 states in the US require that students at public high schools take a personal finance class before they graduate, The Center for Financial Literacy at Champlain College found in a recent report. What they do learn is how to make money — how to get a job and work hard — but money without financial intelligence is money soon gone, according to Robert Kiyosaki, author of personal finance classic "Rich Dad Poor Dad." In an episode of his podcast,"The School of Greatness," Lewis Howes asked Tony Robbins, author of the bestseller "MONEY: Master The Game," what he would implement in the educational system to start teaching the next generation about leveraging their money and growing their wealth. "You'll never earn your way to freedom," Robbins tells Howes.
7 Habits Of Self-Made Millionaires Most millionaires aren’t born; they’re self-made. In a survey by Fidelity Investments, approximately 80% of people who have a net worth of $1 million or more did it without a trust fund or inheritance. As the classic Smith Barney commercial from the ‘70s used to say, "They make money the old-fashioned way . . . they earn it." They also have habits that help them accumulate wealth: "Your habits are the reason why you’re rich or poor," says Tom Corley, author of Rich Habits: The Daily Success Habits of Wealthy Individuals. Corley has studied millionaires for 12 years, and says many of them share the same daily practices and beliefs. 1. Self-made millionaires are readers, and Corley says this is the number one habit to adopt if you want to become wealthy. "The key to success in life is growing your knowledge base and skills," says Corley. 2. People often enter careers for the stability factor, but wealthy people pursue their interests. 3. Parents. Teachers. Career Mentors. Book Mentors.
What the Mast Brothers Scandal Tells Us About Ourselves That's it. And that's strange, really, considering the pitch of the media coverage surrounding those revelations. There has been background chatter for years about the low quality of Mast Brothers chocolate, and it seems that among the chocolate cognoscenti, there's long been skepticism at the brothers' claim that they've always, without exception, produced bean-to-bar chocolate. ("Bean to bar" being generally understood to mean that the cocoa beans are processed in-house.) So why did it all explode now? And why is it exploding so hugely? While the current saga of the Mast Brothers has taken on the swirling, un-anchored form of all great scandals, its point of origination is on the website Dallasfood.org, which recently published a four-part series investigating the chocolate makers' sourcing in their early years of operation. Our delight at their downfall truly reveals how we as a consumer culture lie to ourselves about being consumers of culture. It's okay to hate this.
Financial Literacy 101: 4 Lessons - Wells Fargo Conversations A student’s college years can be an exciting time. But along with hopes for a bright future, college brings a wide range of financial concerns. Having a high net worth may help alleviate the more common financial pressures, like tuition or housing, but that doesn’t necessarily mean wealthy families should skip having money-management conversations with their children. In his work with high-net-worth clients, Amir Mossanen, Senior Vice President and Wealth Advisor for Wells Fargo Private Bank in Beverly Hills, California, says parents tend to use one of two strategies with their college-age children. “The first strategy may be very damaging to a child’s self-esteem, like they can’t be trusted with money or it’s a part of their life that they have to hide from others,” he notes. Instead, he suggests talking early and often about how the child will manage his or her finances during their college years. 1. 2. “Let’s say someone is buying a car,” Mossanen says. 3. 4.
Education: The Rising Cost of Not Going to College For those who question the value of college in this era of soaring student debt and high unemployment, the attitudes and experiences of today’s young adults—members of the so-called Millennial generation—provide a compelling answer. On virtually every measure of economic well-being and career attainment—from personal earnings to job satisfaction to the share employed full time—young college graduates are outperforming their peers with less education. And when today’s young adults are compared with previous generations, the disparity in economic outcomes between college graduates and those with a high school diploma or less formal schooling has never been greater in the modern era. These assessments are based on findings from a new nationally representative Pew Research Center survey of 2,002 adults supplemented by a Pew Research analysis of economic data from the U.S. But do these benefits outweigh the financial burden imposed by four or more years of college? But they’re not.
Ending the Education Drought in California | John E. Kobara 'Tis the season when tassels are turned, mortarboards fly and newly minted graduates receive their hard-earned diplomas. About 3.7 million students will graduate with college degrees in this country. More people are engaged in higher education than ever before. It's a good story, but not the whole story. A majority of students will end up with debt instead of degrees. In California, we're talking a lot about the water drought. California ranks 43rd in college degrees awarded to high school graduatesOnly 12 percent of the 150,000 9th graders in L.A. We are enduring the consequences of a graduation drought. This is not a blamethrower piece on teachers, unions, state funding, parenting or even higher education. We simply don't graduate enough talent. You may be one of those people who says college is not for everyone and we don't need so many college graduates. Most public and many private universities are failing to graduate low-income students.
50/20/30 LearnVest Whether you're a parent with two kids or a recent college grad working your first job, our 50/20/30 guideline can help you assess your budget. LearnVest Planners often use this approach working with new clients to help illustrate the big picture of where their money is going. Our guideline breaks your budget down into three buckets (rather than the seemingly infinite categories of some traditional budgeting). 50/20/30 Broken Down 1. When it comes to fixed costs, our Planners generally suggest that you aim to keep your monthly total no more than 50% of your take-home pay. 2. 3. Create Your Free Budget Today! We include groceries in flexible spending because even though food is a necessity in your budget, how you spend on food can vary. One Note About Retirement As you might have noticed, the 50/20/30 guideline applies only to take-home pay. How the 50/20/30 Guideline Can Apply to Your Own Budget
I Can't Believe How Much These Small Purchases Are Costing Me Every Year Have you ever stopped to add up all of the tiny, seemingly inconsequential expenses that we accumulate daily, weekly, or monthly? A few dollars here, a few dollars there add up to big bucks at the end of the year. You will be shocked at how much those unnecessary expenditures are leaching out of your wallet. 1. Your Starbucks habit may be costing you big time. What this could buy: With that amount of money, you could buy a new laptop or some living room furniture or maybe a cruise for two. 2. If you’re still one of the smokers among us, you might as well just roll your money up and smoke it. What you could buy: That would pay for a family vacation. 3. Love that straight, smooth look? What you could buy: You could spend that money on a massage every other week instead or some really fabulous outfits or a bunch of great shoes. 4. Are you still paying a monthly maintenance fee? 5. You may be surprised by how much you can save by getting an unlimited minute plan or by switching carriers. 6.
Robert Reich: College gets you nowhere This is the time of year when high school seniors apply to college, and when I get lots of mail about whether college is worth the cost. The answer is unequivocally yes, but with one big qualification. I’ll come to the qualification in a moment but first the financial case for why it’s worth going to college. Put simply, people with college degrees continue to earn far more than people without them. And that college “premium” keeps rising. Last year, Americans with four-year college degrees earned on average 98 percent more per hour than people without college degrees. In the early 1980s, graduates earned 64 percent more. So even though college costs are rising, the financial return to a college degree compared to not having one is rising even faster. But here’s the qualification, and it’s a big one. A college degree no longer guarantees a good job. In fact, it’s likely that new college graduates will spend some years in jobs for which they’re overqualified. What’s going on?