Get Rich Slowly » How to Manage a Windfall Successfully This entry is part of JLP’s October project — a month-long, cross-blog review of the book The Bogleheads’ Guide to Investing. Some of what follows is taken directly from the book. So, what do you do now? Every day I give advice on following the slow, sure path to wealth. The Bogleheads’ Guide to Investing notes that many people receive windfalls at some point in their lives. InheritanceDivorce settlementInsurance settlementLawsuit settlementReal-estate saleAn income bonusThe sale of a businessRetirementEtc. What if you inherit $25,000? Most financial practitioners agree that well over 50 percent [of windfalls] are lost in a relatively short period of time. What should you do if you suddenly find yourself with a lot of money? Go out for a very nice dinner.Put about one year of living expenses into a savings account.Put the rest in diversified investments.Be sure your will is in order. Pay any taxes due.Take one or two percent to treat yourself and your family.
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The distribution of world income One of the most profound questions in economics is why are some countries rich and others poor? A paper by John Gallup, Jeffrey Sachs and Andrew Mellinger in the International Regional Science Review in 1999 introduced the concept of “GDP density”, calculated by multiplying GDP per capita by the number of people per square kilometer. Basically GDP density is a measure of the total amount of economic activity that takes place at different spots on our globe. I found the map they produced quite fascinating: Not surprisingly, it looks a whole lot like those satellite pictures of the earth at night: Economists often try to explain differences in income across countries by factors such as the capital stock, education level, and institutions defining property rights, all of which the government could influence with appropriate policies. There’s an interesting new paper on this question by James Feyrer and Bruce Sacerdote of Dartmouth College.
Three tips for getting a job through a recruiter Three tips for getting a job through a recruiterIn response to a question on the Joel on Software discussion forum: I have obtained just one job in my career through a recruiter. It worked out well for me. If my experience can help you, great. This is about what works for me, not the great be-all and end-all of how you can live your life. Especially for this subject: we're talking about making money. I happen to hire through recruiters from time to time, so I can also give you some perspective from the client end. Update: Just to clarify, these points are about my personal experience working with recruiters on full-time employment. Double submission ...one staffing company tried to tell me that a second submission would "cancel out" the first and the hiring company would simply reject me as a candidate. This is 100% true. Never mind what the recruiter wants to do, follow these guidelines: Always ask for the client name. Keywords Pad your resume with every keyword that might possibly fit. p.s.
Prosper: The online marketplace for people-to-people lending Tips for Financial Independence and a Good Life by Mark Gallagher 10 Tips - Financial Independence / The Good Life by Mark Gallagher Note, I am not a financial planner. I am sharing some ideas based on my experience. This advice is offered for free and there is nothing for sale here, no advertising and no sponsorships - just my views that you may consider, accept or reject as you like. E-Mail: mark@gallagher.com 1. How do you do that ? 2. Most people don't learn this one until they are 65 years old. Ok, this is it - the most valuable and enjoyable things in life are your health, time with family and friends, and a job that you enjoy. Related point > > > keep your life and your possessions in balance. Every time you acquire something new, take the time to give something away. 3. One of your biggest decisions. During the period 2008 - 2011, home values have fallen 30 percent or more in many markets. Take a lot of time. 4. Buy a new Honda Accord or Toyota Camry, take care of it, and own it for at least 8 years. 5. Examples: 6. 7. 8. 9. 10. 1. 2. Mark,
Give up your day job << Previous page (page 1) Actual work 22. 23. 24. 25. 26. 27. 28. 29. g forums and trawl through thousands of listings a week. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. use though it's very busy, uses massive bandwidth and costs its owner a bomb. 43. 44. 45. 46. 47. 48. 49. 50. 51. Page 3 >> Camels and Rubber Duckies by Joel Spolsky Wednesday, December 15, 2004 You've just released your latest photo-organizing software. Through some mechanism which will be left as an exercise to the reader, you've managed to actually let people know about it. Maybe you have a popular blog or something. Maybe Walt Mossberg wrote a rave review in the Wall Street Journal. One of the biggest questions you're going to be asking now is, "How much should I charge for my software?" So if you like cotton uniforms you better get this right. The answer is really complicated. Now. Some Economic Theory Imagine, for the moment, that your software costs $199. Let me plot that: This little chart I made means that if you charge $199, 250 people will buy your software. What would happen if you raised the price to $249? Some of the people who might have been willing to pay $199 are going to think $249 is too much, so they'll drop out. Obviously, people who wouldn't even buy it for $199 are certainly not going to buy it at the higher price.