Video-click here
I watched the end of a Bravo TV series called, “Work of Art.” It’s a very interesting reality based competition based upon works of art that the people complete – usually in a short period of time. The winner, Kymia, won $100,000. She was of course overwhelmed, but also made the statement that she literally only had $50 to her name.
It’s a bit mind-blowing. One of the best new artists in the United States and she only had $50.
If you want to become an artist-
It’s not about the money.
Filed under: Money
I had a friend ask me for some financial advice and thought I would share my thoughts with others.
Rule #1 – Educate yourself on a continual basis.On a monthly basis, I would be reading a book on your finances and your investments. I personally like Suze Orman, but I would encourage you to read a number of authors to get a range of opinion. This is your life and your money so it is VERY important.
Rule #2 – Invest 10% of your income every month into your future. Live below your means. There’s a concept called “Dollar Cost Averaging.” Invest the same dollar amount every month and over time you will buy more shares when the price is low and fewer shares when the price is high.
Rule #3 – Don’t put all your eggs into one basket. Diversify! Suze Orman suggests having your age in bonds. If your 40, then 40% of your investments would be in bonds.The same applies to stocks. Putting all your money into one stock is too dangerous.
Rule #4 – Have a years income set aside in the bank. No job is safe any more.
Rule #5 – Both of you need to work. If one of you loses a job, you need at least one income.
Rule #6 – Always keep educating yourself and improving your skill set. Keep that resume updated.
Rule #7 – If your employer offers matching retirement funds – take it. It’s like free money every pay check.
Rule #8 – Try to have a group of funds that allows you to move your money around from one fund to another. When I went to England for a three week vacation back in December 2007, I took all my money out of the stock market and into money market certificates – I got lucky as that was when the market started to tank.
- I used to think that the 60′s were hectic – wrong. The 60′s were somewhat predictable. Today, nothing is for sure except that the easy money, easy times and easy oil are all gone.
