- First of all Kim was right that a good place to start is to energize the base and get out and vote those rascals out. Nancy Boyda here in Kansas lost her seat because people wanted a change. They all should wise up and watch out.
- Jenni would change the State tax to a sales based tax so that consumption drives the amount you pay. By being frugal and not spending so much we might increase savings and reduce the amount of imports we bring in. I don't have a real good handle on this and wonder if there is a law of unintended consequences that might kick in. If we cut consumption will it cause businesses to lay off people as they cut manufacturing and that cause us to spiral down worse? Then, when we start buying the only people that are still in business are the people in China and overseas? At least Jenni has one idea that she wants to try.
- I think I alluded to one solution in post one. As I educate the children (it may be too late to educate the adults) I would give them practical classes in planning and visioning. The easy road just might be the way that people take because they don't know how to set up goals in their lives and how to energize those goals with plans. I know that teachers all ask the children what they want to be at some place and time but do they ever share their road to success. My road started with an intense desire to learn and read. I stumbled into the Military and found a place where I was truly rewarded for hard work. I had no idea that becomming the leader was a good goal and it made me want to get back in school and get a degree. Because I never stopped learning, I found little planning tricks and ideas and it put me on a path to energise new ideas. Goals + Education + Planning skills + hard work = Success. Worked for me!
- The other day I heard a short speech on talk radio that one guy was complaining that he had worked for 27 years and had nothing to show for it. What the hell has he been doing with his money that he now has nothing? I could have bought a boat, new cars and a vacation house at the lake but didn't. I married a great woman that always actively saved money as much as possible and we accumulated wealth. (income must be = to or > than outgo) DUH!
- Accumulate money early and let compound interest help build it for you. I loved to get the statement for my 401 (k) that showed me that the interest paid was as much as my new payments into the account. Buy insurance early when you need it and not later when you don't. Insurance programs are just that, not to build money. I bought a whole life policy very early and after almost 30 years it was all the way up to a cash value of $5,000. I lost almost a grand of that when I cashed it out. That same money would have been $20,000 more than the cost of insurance if I had invested correctly. Oh well... After taking out my cash, I bought 5 times more insurance with the same payment.
- So long as it is supported by the tax laws, buy a house if you can. Pay it off in 15 years with a fixed interest loan and be done with it. Invest at least as much as your employer matches your investment. I recommend at least 7% investment/savings. If you think the car you have is on the road to nowhere, save some money and buy one that has a few more mile left in it. I have driven the wheels off every car I have owned in the last 25 years. Pretty and new = expensive. Pay cash as much as you can.
- There isn't a person out there that would not benefit themselves by taking a planning course and a Money Management course. Franklin and Covey have put together a great planning system and I used it hard and well. The Total Money Makeover is a great investment in time and money. It is not as important what you do as it is that you do something.
- Quit listening to the advertisements that tell you to get the latest and greatest. Wanting what you have is a hell of a lot more satisfying than getting what you want. To me a simple bike ride is about as great as a trip. Buy a good camera and take pictures of the things you love. (In my case it is buy a camera for the person I love and then look at her pictures in awe)
- Teach, coach and love the people you are with. If it is the kids you have, your co-workers or your subordinates. My boss never had to work hard to replace me when I moved up. There was always at least one person I had trained and was ready to replace me.
Once upon a time I complained that the job I had was a hell of a lot of hard work. My boss looked me in the eye and said, "If it was easy, they would hire someone a lot less expensive than you and accept less."