Money is still such a "hush hush" issue. It seems even more of a personal issue than discussing sex.
There are some details I wish that my girlfriends have kept closer to there chest...haha
We don't seem to have a problem with complaining about how little money we have or how much things cost. Do we do that for sympathy? To see if our friends and family are struggling like us? Or is it to find some sort of common ground.
But when it comes to truly helping people make any sort of money - above and beyond their salaries we suddenly shut down and shut up.
Are we afraid that if we tell them about our current great investment that it will fail and we don't want to be at fault or feel responsible for any loss to them? That is sweet, but when it comes down to it - isn't it up to those that we inform to do their own due diligence? True, and if they make money on it we are heros - if they lose it is our fault.
Or is it that we are being selfish, don't want them to succeed as we have succeeded? I would hate to see that happen. Honestly, does it affect you at all if your friends and family are successful? Does it not make you proud to see others succeed?
What this comes down to is the type of person you are speaking with. There are those who are open, willing and excited to tell you about their investments. You can take their knowledge or leave it but either way I have found those people a joy to talk to. I feed off of their enthusiasm and always respond in kind.
Then there are those that seem to just want to impress but never really give you any info or details. Within the last 2 months we have meet two of the latter who both so happen to be salesmen at the same electronics store.
We were having a great time with this one guy and of course we love to bring up TFSA and using RRSP. We were impressed at first, he knew what we were talking about and we were excited for him and ready for a great chat. But just as quickly as he asked detailed questions from us he shut down. His statement being that he would have to "charge" us if he were to give us any "info". Laughter followed???? What??? He is NOT a financial advisor, (we love the one we have) and he just kept on throwing out all the courses he is taking and how well he does.
He kept on asking me questions, I believe trying to trip me up to see if I truly knew what I was talking about - I think I disappointed him and caught him on a few things that he technically should have knowledge about. Hmmmm
I'm not trying to put the guy down, but seriously, come on. What is that about? It was like he was in a competition with us in some ways? Why? Who knows. What I do know is that kind of attitude will get you nowhere fast.
The saying is the more you give the more you receive. How true is that.
Tuesday, March 22, 2011
Tuesday, March 15, 2011
Use the Red to Make Some Green
It feels so petty when we complain about a little bit of water surrounding our sidewalks, when parts of Japan are completely under water. Tsk, tsk. I pray for them.
It seems even more pathetic when we whine and complain about where the market has been heading...down. Maybe it's just the stocks that I hold but the last few days it has all been red. It sucks to see your portfolio that just a couple weeks ago was doing so well, to some at a loss.
I think this is the time when you are tested. It is so easy to be scared and to sell when things go down. But if you set your portfolio up with nice strong companies with good dividends, then it should not matter as much when the stock fluctuates so much as you are still getting your dividends.
I found this a good time to go over what I have and discovered I need more of those stocks. Luckily those strong stocks (blue chip stocks) like Johnson and Johnson, GE and Kraft are currently down and with our stronger dollar would be a great time to buy in.
There are lots of websites like Reuters that help you with researching if the company is a good buy, hold, or sell. They tell you how much of a dividend you get - quarterly or monthly and any financials that you would need.
I don't quit understand the whole financials yet, I am trying to use more of the Price/Earning ratios but still not 100% sure on how that affects things as just looking at that does not give you a good picture of the company.
So instead of looking at my red as negative I am looking at it as a time to take advantage. Granted you have to have the money to purchase these stocks also - so I will have to sell something off (profit only) sooner than expected to free some cash up. I am watching my Lulu slowly climb back up to the 80's!!
Be smart and do your research and try not to panic. Things can always be worse...Pray for Japan.
It seems even more pathetic when we whine and complain about where the market has been heading...down. Maybe it's just the stocks that I hold but the last few days it has all been red. It sucks to see your portfolio that just a couple weeks ago was doing so well, to some at a loss.
I think this is the time when you are tested. It is so easy to be scared and to sell when things go down. But if you set your portfolio up with nice strong companies with good dividends, then it should not matter as much when the stock fluctuates so much as you are still getting your dividends.
I found this a good time to go over what I have and discovered I need more of those stocks. Luckily those strong stocks (blue chip stocks) like Johnson and Johnson, GE and Kraft are currently down and with our stronger dollar would be a great time to buy in.
There are lots of websites like Reuters that help you with researching if the company is a good buy, hold, or sell. They tell you how much of a dividend you get - quarterly or monthly and any financials that you would need.
I don't quit understand the whole financials yet, I am trying to use more of the Price/Earning ratios but still not 100% sure on how that affects things as just looking at that does not give you a good picture of the company.
So instead of looking at my red as negative I am looking at it as a time to take advantage. Granted you have to have the money to purchase these stocks also - so I will have to sell something off (profit only) sooner than expected to free some cash up. I am watching my Lulu slowly climb back up to the 80's!!
Be smart and do your research and try not to panic. Things can always be worse...Pray for Japan.
Saturday, March 12, 2011
Put That Money Down
What would you do if you came into some money? Inheritance, bonus, lottery win? Many of you would be saying, "Well it would depend on how much of a windfall it was."
Many of us say that we would pay our debt off, be it credit cards, cars, or mortgage which is the biggest (liability) we have. But when we say this, we are all thinking millions of dollars. We picture paying all of our debt off AND still have some left over to play with.
But the majority of us - if we do come into some "extra" cash (a few thousand dollars) we spend it.
Why not/ That would certainly be the fun thing to do. We work hard, we deserve to finally get some pay back.
Even though that idea of a big screen tv or that long awaited trip to Mexico sounds good and is now within reach - if we search deep we know what we should really do.
Pay down our debt! IF you have it. Honestly, who dosen't? Very few of us, who are in our child rearing years don't have at least a mortgage. But if you have consumer debt on top of that - that bonus money should go straight to paying that down (if your lucky) pay it off.
I know it seems like you are just throwing that money way on nothing - if feels like you get nothing out of it. Well, maybe nothing "physical" but the interest and stress that you save are huge.
Do you have that TFSA yet? Have you started contributing to your RRSP? Why not use that money to start that up? If you put (up to $15,000) away in your self directed TFSA, meaning you can buy and trade your own stocks you could be going on that trip TAX FREE and be DEBT FREE.
Dosen't that sound better? You may have to wait a few months to get some dividend from your stocks and to see some profit in your stock your choose, but this is all stress free money.
Pay yourself first! You deserve it. THAT is the best present you could buy yourself and your family.
Many of us say that we would pay our debt off, be it credit cards, cars, or mortgage which is the biggest (liability) we have. But when we say this, we are all thinking millions of dollars. We picture paying all of our debt off AND still have some left over to play with.
But the majority of us - if we do come into some "extra" cash (a few thousand dollars) we spend it.
Why not/ That would certainly be the fun thing to do. We work hard, we deserve to finally get some pay back.
Even though that idea of a big screen tv or that long awaited trip to Mexico sounds good and is now within reach - if we search deep we know what we should really do.
Pay down our debt! IF you have it. Honestly, who dosen't? Very few of us, who are in our child rearing years don't have at least a mortgage. But if you have consumer debt on top of that - that bonus money should go straight to paying that down (if your lucky) pay it off.
I know it seems like you are just throwing that money way on nothing - if feels like you get nothing out of it. Well, maybe nothing "physical" but the interest and stress that you save are huge.
Do you have that TFSA yet? Have you started contributing to your RRSP? Why not use that money to start that up? If you put (up to $15,000) away in your self directed TFSA, meaning you can buy and trade your own stocks you could be going on that trip TAX FREE and be DEBT FREE.
Dosen't that sound better? You may have to wait a few months to get some dividend from your stocks and to see some profit in your stock your choose, but this is all stress free money.
Pay yourself first! You deserve it. THAT is the best present you could buy yourself and your family.
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