Share Your Wisdom – HumbleDollar

You probably have more wisdom stored up than you realize, experience is a great teacher. You may also find valuable information in the wisdom others share.

HERE’S YOUR CHANCE to help others with your financial insights. (And to learn from others experience as a well)

Some examples of topics now up for discussion:

Is a home a good investment?

“Yes. We now grow about 50% of our produce in our own backyard – organic and in an area where we have four seasons and can grow stuff for only half the year. We can paint the walls any color we like, remodel any way we want. It is a place we enjoy and create memories in. Financially, it is at par with renting.”- Purple Rain

What everyday purchase do you consider a bargain?

“Electricity, by a mile. Literally. We said farewell to our last gas car in 2020. We refuel in the garage at 11.8 cents per kWh. On average, it costs us 3.1 cents to drive a mile or about $1 to drive 32 miles. Bonus: EVs are a hoot to drive, too.”- David Powell

What aspect of Wall Street do you find most distasteful?

“There’s so much to choose from. But I think, more than anything, that I’m bothered by Wall Street’s attitude toward everyday investors. In the eyes of too many Wall Streeters, everyday investors are sheep to be shorn and naïve fools who buy and sell the wrong thing at the wrong time. Yet all those clever professional money managers collectively fail to beat the market—while all those supposedly foolish everyday investors have driven the explosion in indexing. “- Jonathan Clements


Source: Share Your Wisdom – HumbleDollar

One comment

  1. There are so many lessons in life..

    First and foremost, no matter who you are, have a bank account in your own name. You can have a joint bank acccount also, but always have a cushion for yourself! This works both ways. If married, each should have their own account and a joint account.

    If possible, marry someone with the same spending habits as yourself. Saves many issues.

    Financially I must say ‘be frugal’. Put a percentage of your paycheck into a separate bank account for yourself before you do your budget. No matter how small. Do a percentage. If you get a raise or new job, same percentage. I once met with a ‘financial advisor’ at a job I had. I had just divorced, had custudy of 3 teanage children. I thought he was smart!. Wrong. His only suggestion was to pay off my credit card, which i had only a small debt on. Of course he was right with that, but that is it? No further advice? He was there to speak with the management who made big bucks. Had no idea about the regular world.

    My first job cleared $75 every two weeks! I married and took time off while the children were young. Women were not allowed to have their own credit card then. Now times are different.

    Going back in 1970 I applied for a job close to home hoping to get $1.25 but the job only paid $1.00 per hour. I accepted and eventually worked up to a mid-management position. Perserverance.

    I am making more money now at age 77 than I ever made in my life. Self-employed. I contribute as much money to a SEP as I am allowed each year to save on taxes. Will I ever live to spend it? Who knows. It is there if I need it. If not, family will get a boost!

    Liked by 1 person

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