Get Rich Slowly!
Some more advice. The website foldedspace.org offers bullet-point summaries of several books on becoming financially independent. Most of these sorts of books are effectively condensed to a couple of hundred words. And that is what they've done here. Do read it. If anything, its a helpful reminder.
Excerpt from intro:
Excerpt from intro:
Over the past few months, I've read over a dozen books on personal finance. Recurring themes have become evident.Link to read the rest.
These books have embarrassingly bad titles, seemingly designed to appeal to the get-rich-quick crowd: The Richest Man in Babylon, Your Money or Your Life, Rich Dad Poor Dad, Think and Grow Rich, Wealth Without Risk, Creating Wealth, etc.
Some of the books out there — most of them? — really are as bad as their titles. Others, however, offer outstanding, practical advice. The best books seem to have the same goal in mind: not wealth, not riches, but financial independence...
How is financial independence achieved? Again, the best books all basically agree. (To some of you, this will be common sense, stuff you've known all your life. To others, like me, this kind of thinking is a sort of revelation.)
Here, then, is my personal summary of the collected wisdom found in these books...
posted by david burnstein at 3:03 PM
2 Comments:
If you combine the posts about getting rich slowly and beer advice:
If you had purchased $1000.00 of Nortel stock one year ago, it would now be worth $49.00.
With Enron, you would have had $16.50 left of the original $1,000.00.!
With WorldCom, you would have had less than $5.00 left.
But, if you had purchased $1,000.00 worth of Beer one year ago, drank all the beer, then turned in the cans for the aluminum recycling REFUND,
you would have had $214.00.
Based on the above,current investment advice is to
drink heavily and recycle.
It's called the 401-Keg Plan
Huh? MCI is up 60% over past 12 months. Still, I enjoyed the comparison. It makes you appreciate the risk of equities and the rewards of beer drinking.
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