Financial Success for the Rest of Us

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Financial success is a more adequate term at the individual level and is less meaningful at the aggregate level.

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It is usually much more the pursuit of degrees or certifications that enable that person to garner employment at much higher salaries. And while I agree that at the aggregate level, attempts at increased saving leads to reduce economic output and reduced saving; at the individual level, once you have performed your investment, saving becomes an absolute necessity for retirement unless you want to die working.

And only if you deposit those savings in a bank or stick it under your mattress, does the savings become an aggregate drain to income. That is, if I use my savings to purchase a dividend stock to generate future income that would seem to qualify as an investment. If I purchase a non-dividend company hoping to unload it on another person later at a higher price then I suppose that would be spending even though one might call it investment. Savings then is money under your mattress or money deposited in the bank. In the extreme, then aggregate personal deficit spending leads to higher aggregate higher incomes and maybe some inflation or bubbles if that spending is not directed to real wage growth.

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Stocks are already issued when you buy them. All securities issued are always held by someone until they mature…. Yeah, but someone holds that cash no matter what. I was hoping that CR would give the more precise answers that he usually gives. So I will take a crack at it. You have not technically performed an investment. Purchasing stocks in the secondary market where they are already issued is a swap of cash for a stock. CR points out that the usual term of investing is really about an allocation of savings and not truly investment in the technical sense.

Technically, the term investment is spending for future production. That said, from my personable perspective the new and used item maybe high interchangeable. But for the aggregate economy they have different ramifications. Taking it to an extreme if I purchased a newly minted shiny yellow rock or new piece of art instead of a vintage coin or historic piece of art then again one may qualify as an investment and another not. Very interesting discussion. Some of the shareholders want to cash out, because the business is in serious need of building a new location, and upgrading its IT system.

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Don Levit. Take Einstein as an example. He wrote the Nobel prize winning work while a Patent Clerk. He had very low income, but a lot of free time. Not unsurprisingly, both Brownian motion and the quantization implied by the photoelectric effect, dominate both our understanding of the world and technology.

In an equilibrium world, Einsteins heirs would be, by at least an order of magnitude, the wealthiest people in the world.

He, and his heirs, captured only a minuscule fraction of some of the greatest physics of all time. I am tired of your bad attitude and having to warn a grown man about his commenting style. You should be embarrassed by your behavior here over the last few months…. I should also add, for the edification of anyone who might read your commenting thinking it is coherent — money is not the unit of account. I think you meant to say that the unit of account is the measure by which we record money.

The unit of account is the Dollar, Euro, Yen, etc. The unit of account is the record of measurement. This week unit of account. Also, nice use of big words and a fancy but simple example. I guess your thinking goes something like this:. Tear people down by insulting them first. If called out on weak point by someone who actually understands the topic at hand then insult further using more verbose jargon.

Hope no one notices that your comments mostly amount to rude, verbose nonsense. His comment is actually more wrong than you give him credit for. Investment is a quantifiable measure in economics. By the same logic, someone has not invested just because they have intellectual productivity that has not been applied. Einstein was not investing when he came up with his ideas.

Dan's Book: "Financial Success for the Rest of Us" | Dorval & Chorne

The actual quantifiable investment in economic terms occurred when his idea was put to good use. There was a commenter here who really added SO much to the subject matter at hand if you have forgotten, it was about differentiating investment from the allocation of savings — but after his comment, it would be no surprise to end up somewhat confused. It now makes no difference to us whether or not this person is relevant — or, in the act of not being relevant, he is actually close to the mark in his divergence — typically, not at all.

It is comedic relief. We get our giggles and move on to the comments that can truly help us learn. But this learned gentleman forgot some important facts. Here is the link to the standard text book I used back in and note the very cool beard in the infrared :. This is the stuff us engineers, physicists, and applied mathematicians have had to learn to work in our field. That is the underlying process of light, long, mid, and short wave infrared statistics when we can not extrapolate into Poisson statistics because the number of photons we are receiving through our telescope and onto our focal plane are too few.

That occurred circa , wherein Godel proved via a device of meta-mathematics that a complete system of logic could not prove everything but an incomplete system could prove everything, a partial link is given here:. I am sure you will find somehow a way to comment on this in yet another irrelevant post. We are just covering the ground before you get there!

But, in retrospect, we actually are no longer angry at your divergent, misdirective and malinformed posts; actually WE love your stuff! We could really use the laugh.

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Twelve Steps to Financial Success

Carefully consider each major financial decision and stop using your credit cards. Once you are out of debt you should build an emergency fund of six months' worth of expenses that you leave in the bank. This cushion will allow you to leave your investments alone in case you fall on hard times. It should only be used for real emergencies such as a job loss, and it is set up to protect your investments and retirement savings.

If you dip into your emergency fund you should focus on bringing it back up to the full amount as quickly as possible. If you have an unstable job, you may want to consider saving up a year's worth of expenses. This will help you to move forward with getting out of debt and prevent you from adding more debt. After you have done that you should work toward building your retirement and investing savings. Many financial advisers, such as Dave Ramsey, recommend putting 15 percent of your gross income into retirement each year.

However, if you have specific retirement goals you may need to increase this amount. You should talk to a financial planner who can help you determine the amount you need to be able to retire comfortably. You can use your k at work as part of your plan, but you should also use a Roth IRA and other investment tools to increase your investments. In addition to saving for retirement, you should begin to plan and save for future expenses like your child's education or a down payment for a home if you have not yet purchased one. You may be thinking about a dream vacation home in the future or retiring earlier than normal.