Rudy, 34 years ago
It’s true, I had never seen the movie Rudy until this past Thursday. You, know, football movies are all pretty much the same. “Rudy” is different; it’s better. I enjoyed watching the movie and then watching the special features. Someone posted some of the special features on YouTube. It’s amazing that the story and the game in the movie followed very closely the events that really took place.
YouTube Video of the real Rudy that someone uploaded.
What an inspiration for dreamers who work at pursuing their dream.
November 8th is the anniversary of the game Rudy played in.
Link to the Movie Page on Amazon.com:
Help Grandpa Day 2009
We enjoyed a great Help Grandpa Day this year. We picked lots and lots of apples from the 2 remaining apple trees. The trees are 60 or so years old and produce a lot of apples. They’re all that’s left of about 14 apple trees. Cousin Jennifer took some great pictures for us.
The great-grandkids wore their Halloween costumes for fun.
We picked bushel after bushel of apples, hundreds and hundreds of them. With Autumn’s help, we made up a little song:
Read MoreHundreds and hundreds of apples on the tree,
We pick them, we pick them, yessiree.
We put them in baskets and wash them all,
You have to bee careful if an apple falls.
Hundreds and hundreds of apples on the tree,
We pick them, we pick them, yessiree!
Financial Panel Aug 2009
One of my all-time favorite quotes by Jim Rohn (from cassette tapes I literally wore out from listening to them so much) is as follows:
In order for things to get better for you, you’ve got to get better.
Angie and I have the opportunity to participate in a panel on family finances in our ward. Mr. Rohn’s words above can apply to all areas of our lives, but especially to our personal finances.
The chance to participate in the panel has been fantastic because it’s helped us write down our philosophy about money, investing, budgeting, etc. The scope of the panel cannot address even more than just a scratch of the surface of the topic, but we’ve put together a list of books that we’ve found very helpful as we’ve gone through our library.
There are many more books than the ones we’ve listed below, and our library card has come in very handy in reading a good portion of these books for free.
Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money–That the Poor and Middle Class Do Not!
by Robert Kiyosaki
A must read. Who do we get our financial education from? Robert Kiyosaki had two dads, a Rich Dad and a Poor Dad. The poor dad was his biological father, highly educated, highly paid with a professional job, but broke. His poor “dad” (his friend’s father) was un-schooled yet worked his way to wealth. Mr. Kiyosaki challenges ideas that we hold about assets and liabilities but does so in a great format as his poor and rich dads give him advice on life and money.
Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth by T. Ha
rv Eker
Another absolute must read. From page 179:
…the three most dangerous words in the English language [are] ‘I know that.’
How true. We may say to ourselves, “I’ve heard all this stuff before,” but if you don’t DO, you don’t KNOW. From a self-made millionaire, the differences between how wealthy people see the world versus how poor and middle class see the world, Mr. Eker outlines steps and principles to follow to help improve our thinking, beliefs, actions, and habits. He also includes a suggested budget that helped him through financial distress. Great book.
Smart Couples Finish Rich: 9 Steps to Creating a Rich Future for You and Your Partner
by David Bach
Another great read. I love the philosophy that our interests and dreams should drive where we put our money. Why spend money every day on coffee (or eating out for lunch) when your dream is to be healthy, give to your university, etc. The book can help you identify what is important to you now and in the future and help you create a plan to work towards those goals.
Put Your Money Where Your Heart Is: Investment Strategies for Lifetime Wealth from a #1 Wall Street Stock Picker
by Natalie Pace
I received an advanced reader’s copy of the book and loved it. I’ve heard numerous investment strategies, and I prefer the ones that make sense, are simple, and come from people who actually do it rather than from brokers. She takes investing from a shopping perspective (e.g., don’t pay retail for stocks), and does a great job highlighting how she came out of a divorce with a condo under water and has now made a fortune investing in what she loves.
Who Moved My Cheese?: An Amazing Way to Deal with Change in Your Work and in Your Life
by Spencer Johnson, M.D.
Change Happens, my friends. Keep your tennis shoes ready and don’t get too comfortable!
The Richest Man in Babylon: The Success Secrets of the Ancients
by George S. Clason
Absolutely classic/timeless. If you’re going to receive financial advice on how to become wealthy, don’t get it from someone who is broke! That’s why reading these books by successful entreprenuers, investors, and the like are so important.
Your Credit Score, Your Money & What’s at Stake (Updated Edition): How to Improve the 3-Digit Number that Shapes Your Financial Future
by Liz Pulliam Weston
I received this book as an advanced copy as well, and it is a fantastic resource debunking myths such as you have to pay interest (on a loan, carry balance on credit cards, etc.) to start building your credit score (I know people that unfortunately buy into that myth). Much of what went into the credit scoring system was a secret until recently so a lot of people had to guess as to how the scores were calculated, thus, there are a lot of myths. The author also discusses the dangers of seeking bankruptcy and greatly cautions about debt consolidation plans and debt consolodation “companies.” Watch out! She also covers how to get out of a credit crisis if you’re in one (it may be tough medicine for some, but it’s the right stuff). I thought the book would be boring but informative when I first picked it up, but the book turned out to be very interesting and enlightening.
The Greatest Salesman in the World: Gift Edition
by Og Mandino
Another classic read set in a parable relating to our focus and thinking.
The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It
by Michael. E. Gerber
A great resource if you have or are going to start a business. The book highlights different roles and personalities that must be present for a business to succeed.
The 7 Habits of Highly Effective People
By Stephen R. Covey
Be Proactive, Baby!
Leadership and Self Deception: Getting Out of the Box
by the Arbinger Institute
Ranks as one of the top three books I have ever read.
7 Strategies for Wealth & Happiness: Power Ideas from America’s Foremost Business Philosopher
by Jim Rohn
Jim Rohn is a Master. I don’t think the cassette tapes I have of his are sold anymore, but the book above has the same principles. Life changing.
The Millionaire Next Door
by Thomas Stanley and William Danko
The gist of this book is that those who are truley wealthy, don’t live very lavish lifestyles, in fact, they save and buy discounted goods. They’re smart with their money…that’s why they still have it. The book reminds me of the saying: It’s not how much you earn that matters most, it’s how much you keep and can pass on!
Chasing Daylight:How My Forthcoming Death Transformed My Life
by Eugene O’Kelly
I loved reading this book. Eugene was the CEO of a company that I used to work for. He worked so hard his whole life and made it to the top of the corporate ladder only to be diagnosed with a terminal disease giving him about 100 days to live. Eugene’s life and thoughts in his book are a wake up call for all of us to understand that we must seize the moment, and that people/relationships are most important. Eugene wanted to have a one-on-one “perfect moment” with friends and family before he passed away. He wrote down his shared moments and they became part of this book which his wife finished for him when he died. The company gave us a free copy of the book (there were about 100,000 employees of the company at the time). I can’t remember if everyone recieved a copy or you simply had to ask for one, but I remember some people in the company saying, “I’m not going to read some book about how he wasted his life away working.” It was also not hard to notice that those folks put in extremely long hours away from home. How unfortunate a philosophy because the book has some very important lessons.
Discourses of Brigham Young compiled by John A. Widtsoe
Brigham Young had a lot of interesting things to say to the saints in the Salt Lake Valley as he tried to help them elevate themselves and the community from poverty. Read chapter 25 on Unity and Co-Operation and you’ll find some very interesting advice given over 100 years ago to people trying to make a living out of the dry soil and harsh conditions of the Salt Lake Valley. Brigham told the saints to invest their money and buy shares in the local businesses so that they could put their money to work and earn interest so that the poor may have some of the advantage of the rich.
Rich Dad’s Cashflow 101 Board Game
Play this game. This game has been a lot of fun for us to play. We’ve played it with friends and family over and over again. It teaches family members how to keep an income statement, and what a balance statement is. It also teaches that having a high paying job isn’t necessarily the key to success (in fact, it can actually be a hindrance if your high income is followed up by a high-rolling lifestyle). The game teaches about investments (real estate, stock market, and business) in very basic but very fun ways. It was created by Robert Kiyosaki who wrote Rich Dad Poor Dad.
Many of the books above state that we don’t have to believe everything they say, but that we should actively be learning, questioning, and growing.
How can things get better for any of us, financially speaking or otherwise, unless we get better? All of us should spend time developing our Financial IQ or Financial Intelligence as many call it. Your wealth grows only as fast as your financial intelligence.
The good examples of successful people, their thinking, and philosophies about income, spending, and wealth rub off on you as you sit down with them (in this case by reading their books). In response to the notion of someone being in debt financially, Jim Rohn commented, “Well who sold you on that plan?” It’s important to understand whose financial plan we’re working from (the plan from our parents, plans shown on the television, movies, etc.); or does our plan come from successful people? When I learned to play the saxophone in high school, I searched out the most respected and accomplished professor in the state as a teacher, and I’m glad I did, because I was a slow learner 
. Learn from the best.
As Jim Rohn put so articulately: “In order for things to get better for you, you’ve got to get better.” Taking the time to turn off the tube and advance personal education is one (but obviously not the only) way to get better.
Read MoreThe Bees are Buzzin’
We’ve been blessed with a great garden this year. The zucchini are growing like crazy, we’ve had lots of lettuce, strawberries, spinach, and now some broccoli. The carrots ended up being pretty gnarly but still good. The beans and peas have also done well.
We’ve also enjoyed lots of raspberries. Our second crop of raspberries are about to turn red. The bushes are now over eight feet tall. Last year, the bushes bent over their posts and covered the lawn making it hard to mow. We’ve added extra string along the posts and have been able to keep the bushes upright which makes the raspberries easier to pick.
We’ve had lots of bees around and we got up close to a few of them.
Direct from the US Treasury
Continuing from our previous post about education savings and investment plans, why not mention another savings/investment option.
If you’re like most people, you have a certain amount of money as a “buffer” in your savings account. You never use the money, but have it there just in case. You earn modest interest on the money at a rate of 0.2% to 1.5%. Now you could lock the money up in a Certificate of Deposit (CD) which would offer a couple percentage points return, but your money is locked up.
I was researching bonds as well as US Treasury securities. You can buy US Treasury securities through a broker (why don’t they call them “richer”? Why “broker”? I’ll let you decide). Anyway, I was learning more about US Treasury investment options and found that you can purchase these direct rather than through a middle-man and avoid any commission on the sale.
You can visit https://www.treasurydirect.gov and create an account. You have the option in investing in various treasuries and bonds.
Treasury Bills - These bills are sold at a discount and when the term (time period) is up, you’re paid the full amount. Envision it as you pay $90 for a $100 bill that the government will give you in 52 weeks.
- Terms: 4, 13, 26, 52 weeks
- No interest payments made to you during the term. The amount paid to you over your original purchase price is your interest gained.
- Minimum Purchase: $100.00
- Interest is exempt from State and Local Income Taxes
- Interest is subject to Federal Income Tax
Treasury Notes – The difference between the Note and the Bill is that the Note option will pay you interest every six months during the term.
- Earn a fixed rate of interest every six months
- Terms: 2, 3, 5, 7, 10 years
- Minimum Purchase: $100.00
- Interest is exempt from State and Local Income Taxes
- Interest is subject to Federal Income Tax
Treasury Bonds - Think of this as a long term note.
- Term: 30 years
- Pays a fixed interest every six months
- Minimum Purchase: $100.00
- Interest is exempt from State and Local Income Taxes
- Interest is subject to Federal Income Tax
Treasury Inflation Protected Securities (TIPS) – Think of these as Treasury Notes that adjust (in your favor) as inflation increases. You receive interest payments on your principle investment, and the principle investment is increased based on inflation.
- Term: 5, 10, 20 years
- The principle can also decrease according to deflation; however, if you hold the investment to maturity, you’ll get back your principle regardless of the deflation.
- Interest payments are made twice a year based on the principle
- Minimum Purchase: $100.00
- Interest is exempt from State and Local Income Taxes
- Interest is subject to Federal Income Tax
EE / E Savings Bonds – Can make a good gift for the grandkids.
- Min Term: 1 year
- Earns interest for 30 years
- Minimum purchase $25.00
- Two types: Electronic (purchased at $25.00 and accrues interest) and Paper (purchased at $25 and matures to $50)
- No redemption penalty after 5 years
- Interest is accrued (i.e., you don’t receive the money earned until you redeem the bond)
- If used for education expenses could be Income Tax Free (check the tax code)
I Savings Bonds – Similar to the EE Savings Bond except the I Savings Bond will adjust in your favor if inflation increases.
- Interest is exempt from State and Local Income Taxes
- Interest is subject to Federal Income Tax
What are the return rates?
There are a few things to consider when comparing returns of these investment/savings options. You won’t be taxed by your state on most of these securities. You might want to compare these against what you could get from a savings account rather than the stock market (although, they may not look all that bad now). The risk of these investments is low because the government isn’t going to default.
With that in mind, for money that might have just been sitting around earning less than inflation, subject to Federal, State, and Local Taxes, US Treasuries aren’t a bad idea for a secure investment. Bytheway, the interest rate stated in your bank account and what you think you might be earning can be different depending on your beginning and ending balances.
DISCLAIMER: Investments hold risk, etc., etc., etc., this information isn’t guaranteed to be accurate or complete. In other words, you’re responsible for your own financial decisions and shouldn’t rely on what is written here; don’t get mad or sue if things don’t go as you planned.
References:
Product in Depth (and sub headings). In TreasuryDirect.gov. Retrieved July 14, 2009, from https://www.treasurydirect.gov/indiv/research/indepth/indepth.htm
Explaining Simple Interest, Compound Interest, APR, and APY. In The Simple Dollar. Retrieved July 14, 2009, from http://www.thesimpledollar.com/2006/11/28/explaining-simple-interest-compound-interest-apr-and-apy/
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