Press title for the money money song!
"For money you can have everything it is said. No, that is not true. You can buy food, but not appetite; medicine, but not health; soft beds, but not sleep; knowledge but not intelligence; glitter, but not comfort; fun, but not pleasure; acquaintances, but not friendship; servants, but not faithfulness; grey hair, but not honor; quiet days, but not peace. The shell of all things you can get for money. But not the kernel. That cannot be had for money."
-Arne Garborg, writer (1851-1924)
I've never believed in accumulating, for it always tells you what you don't have. Accumulation is like a fix to a gambler in that it is always about the getting and never the having.
Because I'm in the business I'm in I'm often asked for financial advice. I can only pass on what I do myself and that is:
Become your own financial advisor. Read the business news, spend the time.
And hey no one wants to do that. They'd rather turn the whole responsibility over to a stranger who is making commission on every transaction.
A wise Jewish shaman of my acquaintance told me 30 years ago that if I were ever invested in the stock market, whether through mutual funds, financial advisors, brokers, etc. I was to dedicate 2 hours a day to monitoring my investments carefully and also paying attention to what my money was invested in. Clean investments yielded clean returns and investments in Big Tobacco or the military industrial complex or Big Pharm is not clean money in my opinion.
I’ve been burned a few times when I threw my money into schemes at which I didn’t look closely enough or have felt dirty when I looked at my complete portfolio of holdings many years ago.
But I bailed out of all of that and settled for small annual interest returns on the bit of money I do have. And even then, I know I’m not completely clean as I know my banks are invested in sometimes unsavoury enterprises: check out who invests in those slimey payday short loan houses with their usurious interest rates.
Two years ago I said to closest friends and family – a big step for me as I do not like to expound advice on the private affairs of others or meddle in any way - I truly believe in personal responsibility – to please get any holdings out of the stock market or mutual funds. Not many listened. Very few in fact. I am appalled at what has happened to their retirement funds now. They are very, very scared with the added burden of their real estate holdings turmbling in value.
They ask me what should they do now (one of my closest friends with a former portfolio of $250,000 is looking at the still shrinking $50,000 value of what’s left of it).
I say: I can only tell you what I did before this predicted collapse. I liquidated everything I had, bought a small holding with some good farm land and good fishing and hunting nearby, paid cash, and threw what was left into GICs at 2% annual interest.
I don't believe I'm particularly smart or prophetic, but all the signs were there then of the financial tsunami of what was coming - if one was reading alternative news sources and not sedated by the presstitutes.
And this is only the beginning of the meltdown, I tell anyone who asks. We ain't seen nuttin' yet. Take care of yourself. No one else is going to do it.