Are you looking for a way to change your finances?
Turn your money from small nuggets of gold into large platinum diamonds. Who wouldn’t? Lots of people could do with a financial facelift.
So, “tell me what you don’t like about your finances?”
That last question is a play on the signature line from the show, “Tell me what you don’t like about yourself,” but with a twist…a financial twist of course!
Nip/Tuck is an American serial medical drama television series created by Ryan Murphy that aired on FX in the United States from July 22, 2003, to March 3, 2010.
Opening credits song: “A Perfect Lie”, The Engine Room.
Taglines: Truth is only skin deep. L.A.’s newest implants.
The TV series Nip / Tuck, originally broadcast in 2003 on FX, focuses on McNamara/Troy, a controversial plastic surgery practice, and especially its founders, Sean McNamara and Christian Troy played by Dylan Walsh and Julian McMahon respectively. Each episode was named after the incoming patient. The show sold itself as a melodrama with a facelift.
It made me think what if people could have financial facelifts instead of actual ones?
However, it would focus on inner emotional stability instead of outer beauty.
We would build the foundation to allow people to start at building good and long-lasting financial habits.
Let’s begin our consultation.
WHAT DOES IT COST TO BUY FINANCIAL FREEDOM?
In all fairness, you have to work for your freedom. It could be as much as having $500,000 in savings and investments in one place or up to $2 million in another.
For instance, it was recently reported that no two places are equal to retire in around the United States.
If you want to retire in Mississippi, then it would cost you $950,000 versus retiring in California, in which you would need $2.1 million.
Why the variance? Things cost more on The Coast.
Housing is a premium. Dilapidated shacks in San Francisco are going for 50% above asking price.
For example, this home at 479 Silver Ave. listed on 2/8 of 2018 for $649K and was sold by 3/22/2018 for $1.125M, a 73.34% over-bid.
Homes in the Bay Area are going for a median 1.61 million!
You should plan your escape from the rat race keeping in mind where you want to live. If we use the financial freedom formula of saving 25 times your income, then you can look up what it will cost to live in certain places in America, Canada or other countries and determine if you are financially prepared.
WHAT DOES IT COST TO BE BEAUTIFUL WITH A LITTLE NIP AND TUCK?
The show was definitely like nothing I had ever seen.
One of the biggest shocks were the graphic plastic surgery procedures that were shown. I had to turn my head and look away. But when it comes to your finances, you cannot afford to be that squeamish.
You have to face the facts head on. And one of those facts is that plastic or any type of cosmetic surgery is expensive.
Lifting the face. The average cost of a facelift is $7,448, according to 2017 statistics from the American Society of Plastic Surgeons. Facelift costs can widely vary. The average fee referenced above is only part of the total cost – it does not include anesthesia, operating room facilities or other related expenses.
That’s a lot of Benjamins. If you take that same $7,448 and invest it instead, after 40 years with a 10% return you could be closing in on $350,000!
I am all for people doing what makes them happy including what makes them look and feel good and confident. But at what price?
In another post, I discuss saving up money and using flexible spending to pay for braces and Lasik.
Lasik eye surgery, while life changing, is expensive. It can cost anywhere from $2500 to $10,000.
I prefer for people to pay cash if they do decide to have any cosmetic procedures performed. Who wants to pay interest on a $500 teeth whitening or $7,000 nose job?
In this case, I urge you to think of the opportunity cost.
Do you need clean, healthy teeth? Yes.
Do you need teeth so white that it blinds you every time you look in the mirror? No.
Think practically.
I have to agree with Dave Ramsey on this one: Learn to age gracefully.
MONEY IS A MOTIVATOR
A common theme on the show Nip/Tuck was money. Those guys lived in excess.
First, working in Miami Florida and then moving on to Los Angeles.
These guys knew where the money was and what type of clientele could afford their services.
They were not all about the money though. They performed tons of pro bono work.
I decided to pursue financial freedom because I did not want the lack of money to cause me to make bad financial decisions.
Pick a target number. Make a goal. Then aim for it. That is the secret sauce to financial independence.
However, the secret ingredient is patience.
It takes time to get wealthy.
It is not easy to get rich.
It is not easy to get thin.
All good things take time.
It took me a year to save up my first $10,000. It took me 6 years to start saving 40% of my income. It took me years to save up my first $100,000.
It usually takes 10 years to save the first $100,000. Then it takes about 4 years to make the next $100,000.
Knowledge and money accumulate and compound over time. YOU HAVE TO PUT THE WORK IN! And then be willing to wait. You get back out of anything what you put in.
The problem is that no one wants to GET RICH SLOW.
Dave Ramsey has said he worked his tail off for 25 years, but today people call him an overnight success.
The thing of it is, when you are not trying to get rich quick you will GET RICH SLOW. Or as I like to say, GET RICH LEISURELY.
Through automation of savings and investments over time. Those are the words and advice of The Automatic Millionaire author David Bach.
Let those words be a reminder and motivator for you to build lasting wealth with patience, time, and persistence.
That is why I have been blogging for 3 years.
The reason I write is because I want to inspire the uninspired to act.
So, “tell me has this post inspired you to pursue wealth?”
The idea is not to live forever, it is to create something that will. – Andy Warhol
I’m back with another blast from the past. This time I’m taking you back to 1985 with The Heavenly Kid.
The movie poster image says: In Life & Love, We’re All Just Winging It.
However, in the real world “WINGING IT” isn’t going to cut it.
Anything you want, you are going to have to work for and pursue it. You must devise a plan, write it down, determine a strategy, chart a course, set sail, and execute that plan until you reach the finish line.
One of my favorite films from the 80’s was this gem. The movie had a kick ass soundtrack too!
What I really loved about The Heavenly Kid (THK) is that in the end what mattered most was people and not things.
Take a walk with memory down memory lane. You will not be sorry you came along.
Pinky promise.?
I pinky promise you.
The synopsis is as follows: A hip guardian angel named Bobby Fantana, who died in a car race in the 60s, reluctantly agrees to watch over lonely 80s high schooler Lenny Barnes who needs guidance on how to become cool.
This is how it all went down.
A young greaser-type rebel, challenges Joe Barnes (Mark Metcalf) to a game of chicken for making a pass at his girlfriend Emily (Jane Kaczmarek). Bobby wins the race easily when Joe dives out of his car, but Bobby is unable to get out of the car in time due to his bracelet getting caught on the gearshift. He dies as his car plummets over the cliff into a fiery wreck.
I know this is some sad sh*t, but it does get better.
Although, Bobby is no longer with us there is still some good he can do.
He wakes up aboard a speeding train, which stops at a station housing a huge escalator going up into a bright white light, which one of the attendants refers to as “Uptown”. Bobby is denied entry, and Rafferty (Richard Mulligan) appears and explains that he isn’t considered ready yet and needs to carry out an assignment in order to earn his ticket Uptown.
That train is hilarious. Basically, it is like some form of purgatory, but without any maliciousness. After what seemed like an eternity and many years in limbo, Bobby is finally given his assignment: he is to return to Earth and act as a guardian angel and friend for Lenny Barnes (Jason Gedrick), a promising high school student who is constantly picked on in school, particularly by school bullies Fred Gallo (Stephen Gregory) and Bill McIntyre (Beau Dremann).
The one and only Jason Gedrick.
Iron Eagle 1986 young hero
However, Bobby is instructed that he is only allowed to reveal himself to Lenny and nobody else.
Ooh, plot thickens.
Basically, Bobby is not allowed to enter heaven but has to stay in one of the lower levels or downtown until he has worked enough as an guardian angel in order to deserve paradise. Like all good things, you have to earn it first.
Get out the popcorn, it’s going to be a good read.
WINGED ADVICE #1: CONFIDENCE IS KEY
When Bobby meets Lenny he is for lack of a better word; a nerd.
Just for flare. I am providing one of my favorite meet and greet handshakes of all time. By my favorite WWE wrestler Mach Man Randy Savage with Hulk Hogan. Now he had style and oozed confidence!
And not the Steve Urkel type, but a kid that just has no confidence. Bobby is about to help him change that.
The first time he sees Lenny he is being picked on by a bunch of jerks from his high school. He notices that the “kid has no confidence cause he’s got no style.” Truer words had not been spoken.
I will not ever forget being teased in school. It only made me stronger. I remember thinking this is bull$#%t! I’m only here to get an education. I’m not here for you or your approval!
All people cared about were looks and popularity. I was like there has to be more to life than they way you LOOK!
I decided to ignore them and hit the books and the gym. I found an upperclassman that was willing to do my hair anytime I wanted, then I worked on having impeccably flawless hygiene and appearance.
I felt this. Just like Regine Hunter (Kim Fields) in Living Single.
I was like Beyonce in that b*tch! I WOKE UP LIKE THIS!
All the bullying and teasing stopped REAL QUICK.
That is why I focus so much on my health, education, and building wealth. And it paid off in spades. I own a home, have multiple retirement accounts, I have over $100,000 in just 1 index fund and I own a bunch of those! Thanks Jack Bogle for creating the first index fund in 1975 with Vanguard.
I’m not the only one that has been teased in school. Lots of folks have. I recently saw an interview with William Zabka (Johnny from The Karate Kid) while he was promoting Cobra Kai with Ralph Macchio.
When asked about bullying he said he hates it. There are 3 core people involved in bullying: the bully, the one being bullied, and the witness. Go tell an adult or someone you trust what is going on. Speak up. No one knows unless you tell them. Don’t be afraid to stand up, say something or defend yourself. Remember that bullying is only a season; it is not your whole life. This too shall pass. It is not permanent; it is only temporary. At the time, it seems like your whole world because in that moment it is, but you will grow up an this will end. Yes, he said all of that. He played the bully in a movie. That is fiction. In real life (IRL), he is anti-bullying.
In addition, I remember hearing Jillian Michael tell her story. She was chubby and overweight. The kids were relentless in their teasing. Once she started training in martial arts she said the teasing dried up like prunes and stopped real quick. Therefore, if you want to do anything in this life, the first thing you have to do after making sure you are safe, dry, and feed is to build up some confidence. It can change your life faster than just about anything.
How do you get it? Create a safe place and space for yourself to be who you are, but also to have a clean and neat appearance.
Coco Chanel once said the fastest way to change your appearance is to never underestimate the value of fresh-shaped eyebrows, clean glowing skin and a good haircut.
Basically, focus on hair, teeth, and skin.
You do this by drinking water, exercising, and eating well.
The End.
As far as clothing goes, just do the basics. You are in high school for goodness sakes! All you need are jeans, t-shirts, sweaters, and sneakers.
For the ladies, some fitted tops, jeans, skirts, dresses and heels. A nice blazer and black leather jacket are staples along with nude heels and black pumps. A little black dress is always great to have.
And most important, nothing too TRENDY! Styles change quick. They change so fast that styles have already changed while I was typing this sentence on this post!
Stick to regular staples and basic solid colors and you will never go wrong. Remember that red is the color of confidence.
Also, that you are your biggest cheerleader. You have to believe in yourself or otherwise no one else will. Find a way to build up your confidence and you will go a lot further along in your life.
That’s just my $0.02 cents. Smooches 💋
WINGED ADVICE #2: CRUSHES DON’T LAST FOREVER AND NEITHER DOES BEING BROKE
Lenny has a crush on a girl named Sharon who is the most beautiful and popular girl of the class. He was totally obsessed.
But she does not even notice him until Bobby helps Lenny change his image and boosts his confidence. By doing this Bobby dresses Lenny up making him a playboy and tough guy so that he gets what he wants although Bobby knows that this is not the best.
Lenny spent so much time obsessing over Sharon that the girl that really liked him wasn’t even in his eyesight, but was right in front of him in his friend Melissa (Nancy Valen).
Look we have all been there. Young love. Sometimes it goes unrequited. You will love again. I promise you. Like a friend told Romeo, during the infamous feud between the Montague’s and the Capulets), he must move on from Juliet, there are other beauties.
Shakespeare had that right. Nothing lasts forever. You must be willing to move on once you have done all you can. Did you do your best? Alright then, move on. Time heals all wounds and this includes a broken heart.
Now let’s talk money.
Don’t sped money like a drunken sailor.
Once you start earning some income, put some money aside. Even if it is only $5 dollars a week! This will get you in the habit of saving.
They say the niches are in riches. If that is so, then saving is the niche to building lasting wealth.
I started with nothing and slowly built what I have. First, I was saving $1 a day. Then it was $50 a month. I slowly started bumping it up every chance I got. Got a raise. Save it. Got a windfall. Save it. Can’t just let that money sit. Money can’t be idle.
Money must be invested and it has to keep circulating. Spend on what you need. If there is excess, then you can buy luxuries, but not before you have earned the money first. Learn it. Live it. Love it.
I finally started doing $150 a month and then doubled that. I started reading more on saving and figured “What the heck?” just cut out the crap, stop spending and save.
That is when I leap frogged from saving $3,600 a year to $5,000, $8,000, $10,000 and then $13,333. I sold, stop buying, or earned more and saved. From sacrifice comes great things. Get it. Got it. Good.
WINGED ADVICE #3: SHOPPING FOR A PURPOSE
One of my favorite scenes in the film was the shopping scene. Bobby takes Lenny shopping for new clothes. This boosts his confidence.
In addition, he builds Lenny a car. Now that he has a new set of wheels and fancy clothes, he is ready to take on the world.
I am all for new clothes and buying things you need. Lenny needed to burn those clothes he had or donate them (waste not want not). They made him sad and lonely. He went from geek to chic. And his attitude along with it. However, they only got what he needed. No $5,000 Rolex, or $700 sneakers. Enough for the kid to get by and feel good.
That is what I do. That is how I was able to save thousands in annual clothing expenses and bank that money.
He was also economical in how he got a car. They went to a junkyard and put it together from all the spare parts lying around. No $500 car note there, which is the average that Americans are paying. Stop trying to impress people with your fancy gadgets.
Take a note from 50 Cent’s playbook. When in doubt: sell. Here is a cautionary tale.
Therefore, he is paying $840,000 a year for his manse. He hasn’t even eaten yet! No gas was put in the Hummer (fill in any fancy car name here) and no food was put in the fridge. And don’t forget health insurance. That’s all got to be paid. In 9 years, 50 Cent will have paid over $7.5 million just to do nothing but sit on the sofa in his house! This 19 bedroom manse had no purpose other than to impress people. No one NEEDS 19 bedrooms unless they are running a bed and breakfast. Matter of fact, having a 10,000 or more square ft home is like having a small hotel. I’ll pass.
WINGED ADVICE #4: FOR THE LOVE OF MONEY OR FAMILY
Bobby later finds out that Lenny’s mother is his former girlfriend who has married another guy. Although not being allowed he makes himself visible to her…
and after some additional situations take place Lenny is challenged to a chicken race at the local quarry by Fred, Sharon’s former boyfriend. Having been told by Rafferty that Lenny will die just as Bobby did earlier, Bobby offers to trade his own chance to move Uptown (essentially, his own immortal soul) to save Lenny’s life. He vows to give up his soul. A selfless act indeed.
This unknowingly earns Bobby a trip to Heaven or “uptown” as the movie refers to it. Rafferty explains to Bobby that he had learned to love and value someone more than himself, and that is how one earned a ticket Uptown.
There are going to be times in this life when you will have to chose what matters most to you. What do you value? I remember hearing the Osmonds father (yes, those Osmonds of Donnie and Marie fame) tell his children: faith, family, then career.
I pick my investments based on what I value most: freedom. The freedom to choose what I do with my life and my time.
Money is infinite, but time is not. Once it’s gone, it is gone forever.
That is why I only do what excites me. You only get one life. One shot. One chance. I suggest we all do what Eminem says, ” You better lose yourself in the music, the moment You own it, you better never let it go You only get one shot, do not miss your chance to blow This opportunity comes once in a lifetime.” I agree wholeheartedly.
If you like this post, then check out the film The Heavenly Kid. Because life and you money are too important to “just wing it.”
Not Confessions of a Teenage DRAMA QUEEN. Even though I was a teenager, but of a TEENAGE WAITRESS!
Being a waitress was a humbling experience.
After reading about Financial Samurai working for $3.50 an hour at McDonald’s, I was inspired to share my story of making $2.39 an hour + tips while waiting tables at Shoney’s.
It was early experiences like that that shaped my attitudes
toward money and work today.
It is also a reason why I try to tip well.
I believe in being a good tipper because that is how people make their living. My father always says tip well enough for people to feel it. I concur.
A waitress is a pretty grueling job.
You are on your feet for hours on end. You must constantly be moving and taking orders or picking up food. Then there’s the nonstop cleaning, folding of napkins, packaging silverware, putting ketchup, salt and pepper and other condiments out and etc.
That early job experience was enough to make me want to work and study so hard while I was young, so that I would not have to when I was older.
This job and other hardships are what drove me to dig my way out of debt and start saving over 40% of my after-tax income.
I have always been thrifty and a saver.
It is because of that, I knew I could not marry someone that is fiscally irresponsible and stay married to them. It just wouldn’t work.
I have never had the urge to go rent a Mercedes-Benz, drive
down to Vegas, buy lottery tickets at every 7-eleven along the way, buy a $4,000
Cartier wrist watch just cause you know bosses gotta be on time, visit a
psychic who says my lucky numbers are 4,5, and 6, and then bet it all on black.
Nope. I have not given any of that any thought at all.
Except maybe that the color of the S-Class Mercedes with a 3-layer fabric top is impeccably crafted for coupelike comfort, sleekness and outward views when it’s up, or vanishes in under 20 seconds, even as you accelerate to 30 mph should be silver.
After reading the book Nickel and Dimed, I felt that the author expressed my views on how she and I observed the treatment of low-wage workers was pretty spot on!
The job: take orders, greet customers, keep the restaurant
clean, and serve food.
Sounds simple right. Wrong.
We had a busy body manager. Chaotic shifts. And lulls in
customers.
Shoney’s was an eat-in restaurant (mostly was a buffet place) that started in Tennessee, but had restaurants in the Mid-Atlantic region.
So many people opted for the breakfast mostly leaving
afternoons and dinner times pretty sparse inside.
That means little to no tips!
Not something I was told upon being hired.
Some of the food on the menu looked better than it actually
was in-person, but all the food was at least good.
And no matter how hard I worked, it never felt good enough
to our nitpicking manager who was always so concerned about how she looked in
the eyes of the suits at corporate.
She was too busy kissing their a$$ to worry about us lower
employees on the totem poll.
Little good it did her.
She was a ball of constant worry and stress, a chain smoker, and overweight. This was our manager. Our fearless leader?
Is this what management is supposed to look like in America or was this just her issue?
There has to be better ways for her to almost be eligible
for food stamps and make a buck, but what do I know.
My lunch break was the only thing I looked forward to
because it was the one-time no one could give you any orders and you could get
off your feet and rest.
I usually ate a Philly cheesesteak because it was just so good. Calories be damned!
Even some of the cooks seemed disgruntled. They liked to flirt with waitresses and I think one was dating one of them! Whatever.
I just needed the cooks to be happy so that I could get food
out piping hot and fast so I could make this money.
I need those tips!
After calculating the $2.39 an hour, working 40 hours a week
would only get me $95.60! And that’s gross not net!
Anyway, I now had to deal with the situation.
The goal was to have spending money to hang out with my friends and buy all the cool stuff I always wanted but could never afford.
To be so young and naïve. If I would have been thinking, I should have started tucking money into a Roth IRA. I would probably have had less anxiety when I got my first REAL job!
If I would have saved just $2,000 a year from ages 16-26, without adding another penny, in 40 years that money could have turned into $1,586,894.95 at a 10% return with compound interest! That would have required me to only stash away $22,000!
Just some food for thought right there. Start investing young!
WELCOME TO THE WONDERFUL WORLD OF TIPPING
Like the first episode of Buffy the Vampire Slayer, “Welcome to the Hellmouth,” I was welcomed to how cheap people really are.
Tipping is the holy grail of waitressing and bartending.
One of the smallest tips I ever got was from 2 girls I went to high school with. We were not friends but I didn’t expect to only get a $1.17 tip! That was basically the change from the meal they just ate and paid for. Maybe they should have put in an application to work here too!
I remember one time in college when I got a ride home from a
weekend class I was taking (I was doing 6 classes that semester), telling me
she worked at her brother’s restaurant and she made sure to be on point in
order to get that $20 tip!
My days at Shoney’s was long gone by then, but I remember
thinking it is far better to work at a higher end restaurant like her because
you can make more money.
Lesson Learned: Focus working or catering to high-end clientele that can afford to pay for your services.
SAVE LIKE YOU WILL LIVE FOREVER
Have you ever heard the saying “Live like tomorrow is your
last day on earth?”
Well, I like to save like I am going to live forever.
I learned this lesson, like James Brown said, you have to Pay the Cost to be the Boss.
That song and The Payback made me want to get my act together.
I put a plan into action. I was going to save money out of
every paycheck.
It took years to make happen, but I went from saving nothing to putting aside 9% of my income. Then from saving $1 a day to $13,000 a year!
The plan had been to stop living paycheck-to-paycheck.
That was okay, but I needed a goal. Something to aim at.
So I picked a number. $13,333 was that number.
I chose it for a few reasons: 1) The number 3 is my favorite number; 2) I saw that another blogger was saving that amount per month so I aimed to duplicate that, but started smaller; and 3) I did the math and discovered I could have over $100,000 cash if I did this for about 7.5 years.
I also knew it was possible that if I invested $100k in the
stock market that after 30 years without adding another dime, I could have $1
million shored up for retirement.
Considering that about 20% of Americans have $0 saved for
retirement, I knew that I better prepare because tomorrow does come.
The future is going to happen.
If I was going to bet on anything, I would bet on that.
Forget Vegas. You can bet the farm the future is coming. And it’s coming fast!
Remember that 9% I mentioned earlier. Well that small sum turned
into a small nest egg of $25,000!
And most of that sum is invested in just a few stocks!
The power of compound interest baby!
Pro Blogger IRA # 1 of 3 (Personal Finance) Traffic Estimate: 50,000 pageviews Pinterest Estimate: 48,000 monthly viewers
Stock
Price
Stock Quantity
Current Balance
AAPL
$201.35
37.256
$7,501.50
AMZN
$1866.86
5.000
$9,334.30
Total
$16,835.80
Source: GreenbacksMagnet.com
I hope this post inspires people to understand the value of a dollar and that paying off debt and saving are far better than blowing all your money on things.
Why the difference? Because women earn on average $0.80 for every dollar a man earns.
Therefore, men have to save less and women have to save more in order to reach the same goal of fill in the blank $ dollar amount here.
WHY IS SAVING SO CRUCIAL?
No one can arrive from being talented alone, work transforms
talent into genius. – Anna Pavlov
All wealth building starts with saving.
Don’t let anyone tell you any different.
Sure you may have to invest and diversify your money such as investing in stocks, real estate, and bonds, but you have to save money FIRST before you can buy or invest in anything.
If you have ever read a Jane Austen or Charles Dickens novel, then you know the theme always comes around to money.
Considering that Jane Austen never married and Charles Dickens grew up in a poor house, it is not surprising that the authors chose to hone in on this topic.
The sorted topic of coin. Both authors are British and in that society they have a class system.
You are either born into wealth and inherit it or you must
work for many years and earn your fortune.
Many of the landed gentry lived off of their land. Profits that were made from owning land was how they made a living.
That monthly sum could be the difference between prosperity
and being locked away in poor houses, which were a form of jail for the poor.
Here in America, we do not have a class system of royalty, nobility, tradesmen, shop keepers and owners, or farmers.
However, we do have a social ranking and social class. Those are the haves and the have nots.
If you want to find yourself in the realm of having, then
you best start saving money for your future today.
Many years ago, I was laughed at for my paltry savings
amount of 9% per year.
Now I am saving over 40% of my income.
No one laughs at me now.
HOW SAVING MONEY CAN MAKE YOU HEALTHIER
They say wealth equals health. And that is an understatement
if I ever heard one.
Having money allows you to pay for all of your needs.
This includes doctor visits, healthy food, and medicine.
Eating well not only affects your waistline, but also your
brain functions.
It is said that children that do not get the proper rest,
nutrition or eat breakfast before school perform lower on tests and have harder
times concentrating.
Success depends in a very large measure upon individual
initiative and exertion, and cannot be achieved except by a dint of hard work. –
Anna Pavlov, Prima Ballerina
When you have the means to pay your bills, eat, and work in
good health; then you are fortunate indeed to be able to pay your own way.
Being able to afford your monthly nut just makes you happier
overall.
You are protected from the pitfalls of many of life’s
hiccups.
You can get just as much pleasure saving as you can from spending.
I seem just as happy being able to have the ability to
afford items than am to actually purchase them.
It is a great feeling to payoff debt. Every check you write frees you from obligation to lenders. Then your money can stop serving THEM and start serving YOU.
Make a goal to write down evet single bill you have and
person you owe.
I started doing this and tackling every debt I had one by
one.
Once I paid of my car, I owed $30,000 and my personal loan,
I owed $20,000, then things started really taking off from there.
I was able to take these monthly payments, $450 and $333
respectively, and start investing that money. Now that money works for me in
the stock market.
Here is one stock I recommend: VFINX or VFIAX. (You can also invest in the VTSAX or any equivalent)
Portfolio composition of VFIAX
Month-end 10 largest holdings (22.40% of total net assets) as of 03/31/2019
1
Microsoft Corp.
2
Apple Inc.
3
Amazon.com Inc.
4
Alphabet Inc.
5
Facebook Inc.
6
Berkshire Hathaway Inc.
7
Johnson & Johnson
8
Exxon Mobil Corp.
9
JPMorgan Chase & Co.
10
Visa Inc.
Whatever you do just make sure you not just SPEND money but SAVE money.
Since candidates are coming out of the woodwork for the 2020
presidential election, let’s talk about the elephant in the room: Healthcare.
Regardless, of your political beliefs, most will agree that
a fully funded functioning health care system is a must. You need hospitals
that have basic medical supplies and more advanced equipment for surgical
procedures.
Those things don’t come cheap.
However, other advanced nations have been able to make this
happen.
The elusive Universal Health Care (UHC) that we Americans
have been unable to have due to numerous factors. Primarily, for one reason:
money.
Taxes are a huge component of making UHC a reality. That is
how other nations are paying for it with varying degrees of success.
However, we cannot doubt Universal Healthcare’s popularity.
For example, it was recently reported that a Canadian family
visiting America did not stop at any hospitals after they confirmed that their
patriarch had died of a heart attack while on vacation.
Instead they drove for an ENTIRE DAY, with a corpse in the
back seat to avoid paying the exorbitant healthcare costs here on American soil
and the cost of shipping the body to Canada.
This is a TRUE story. I can’t make this stuff up.
Remember that article in the New York Times about The Velvet Rope Economy? The Doctor Is In. Co-Pay? $40,000.
Chris B. Murray for the New York Times The Velvet Economy article
That is the type of story that would scare anyone from going to the doctor in America.
So let’s talk about healthcare.
WHAT IS UNIVERSAL HEALTHCARE?
Universal healthcare means there is a health care system
that provides coverage to at least 90% of citizens, typically paid for by the
citizens of the country via taxes.
Here in the US, thanks to the Supreme Court’s decision to uphold the ACA (aka Obamacare), signed by former President Obama, the US has universal health care starting in 2014 using an insurance mandate system. But will it last?
Prior to 2014, the US no universal healthcare anything other than Medicare, but that is for the elderly.
However, most of the other developed nations do not make
having a mandate necessary.
This is why the great healthcare debate rages on in the
current White House. The Us is offering subsidies for healthcare and the
current administration is not feeling it. But in other countries, no subsidy is
necessary or rarely required, if healthcare is being funded by tax payer’s
dollars. And we mean paying a lot of taxes.
We will get into that later.
WHAT COUNTRIES HAVE UNIVERSAL HEALTHCARE?
Have you ever wondered what counties offer the coveted
universal healthcare, but you never took the time to look it up?
Well, now you can find it right here.
That’s right. I did the work for you.
There are thirty-three developed nations. Thirty-two of the
thirty-three developed nations have universal health care, with the United States
being the lone exception. That is until the Affordable Care Act came along.
Americans can regularly be heard talking about UHC. Why do
other developed nations have it and we don’t? What is good for the goose should
be good for the gander mentality.
Well, you are about to find out.
The following list, compiled from World Health Organization
(WHO) sources where possible, shows the start date and type of system used to
implement universal health care in each developed country. Note that universal
health care does not imply government-only health care, as many countries
implementing a universal health care plan continue to have both public and
private insurance and medical providers.
Country Start Date System Type
Click here for more source material on each country’s health care system.
Norway 1912 Single Payer
New Zealand 1938 Two Tier
Japan 1938 Single Payer
Germany 1941 Insurance Mandate
Belgium 1945 Insurance Mandate
United Kingdom 1948 Single Payer
Kuwait 1950 Single Payer
Sweden 1955 Single Payer
Bahrain 1957 Single Payer
Brunei 1958 Single Payer
Canada 1966 Single Payer
Netherlands 1966 Two-Tier
Austria 1967 Insurance Mandate
United Arab Emirates 1971 Single Payer
Finland 1972 Single Payer
Slovenia 1972 Single Payer
Denmark 1973 Two-Tier
Luxembourg 1973 Insurance Mandate
France 1974 Two-Tier
Australia 1975 Two Tier
Ireland 1977 Two-Tier
Italy 1978 Single Payer
Portugal 1979 Single Payer
Cyprus 1980 Single Payer
Greece 1983 Insurance Mandate
Spain 1986 Single Payer
South Korea 1988 Insurance Mandate
Iceland 1990 Single Payer
Hong Kong 1993 Two-Tier
Singapore 1993 Two-Tier
Switzerland 1994 Insurance Mandate
Israel 1995 Two-Tier
United States 2014? Insurance Mandate
Please be advised that the dates given are estimates. Universal care rolled out gradually in many countries. For instance, in Germany government insurance programs began in 1883, but did not reach universality until 1941.
WHAT TYPES OF HEALTHCARE SYSTEMS ARE THERE?
You may have never heard of some of the above types of
healthcare systems. That is why the definitions are being provided here.
Single Payer: The
government provides insurance for all residents (or citizens) and pays all
health care expenses except for co-pays and coinsurance. Providers may be
public, private, or a combination of both.
Two-Tier: The
government provides or mandates catastrophic or minimum insurance coverage for
all residents (or citizens), while allowing the purchase of additional
voluntary insurance or fee-for service care when desired. In Singapore all
residents receive a catastrophic policy from the government coupled with a
health savings account that they use to pay for routine care. In other
countries like Ireland and Israel, the government provides a core policy which
the majority of the population supplement with private insurance.
Insurance Mandate: The government mandates that all citizens purchase insurance, whether from private, public, or non-profit insurers. In some cases the insurer list is quite restrictive, while in others a healthy private market for insurance is simply regulated and standardized by the government. In this kind of system insurers are barred from rejecting sick individuals, and individuals are required to purchase insurance, in order to prevent typical health care market failures from arising.
What is free universal healthcare?
Universal health care is a system that provides quality medical services to all citizens. The federal government offers it to everyone regardless of their ability to pay.
Which country has free medical care?
According to Forbes, The two advanced economies with the most economically free health care systems—Switzerland and Singapore—have achieved universal health insurance while spending a fraction of what the U.S. spends. Switzerland’s public spending on health care is about half of America’s, and Singapore’s is about a fifth of ours.
HOW ARE COUNTRIES ABLE TO AFFORD IT?
Now let’s talk about them taxes.
Let’s start with Canada. The Canadian Institute for Health Information (CIHI) believes Canada spent approximately $228 billion on health care in 2016. That’s 11.1 per cent of Canada’s entire GDP and $6,299 for every Canadian resident. That per capita rate would put Canada near the high end of what other advanced economies pay.
Is health care free in Canada?
To review, per The Atlantic, Canadian healthcare basically works like Medicare, but for everyone. Medical care is free, and it covers almost everything other than prescription drugs, glasses, home care or long-term care and dental care. (Most people have supplementary insurance such as private insurance from their employers or the government to cover those things).
Does Canada have good healthcare?
Coverage and access. In both Canada and the United States, access can be a problem. Studies suggest that 40% of U.S. citizens do not have adequate health insurance, if any at all. … Yet, even if some cannot find a family doctor, every Canadian citizen is covered by the national health care system.
How is healthcare funded in Canada?
Basically, healthcare is being funded at both the provincial and federal levels. Financing the system is provided via taxation both from personal and corporate taxes. Additional funds from other financial sources like sales tax and lottery proceeds are also used by some provinces.
Do Canadians really pay more in taxes than Americans?
According to Investopedia, U.S. federal income tax brackets range from 10% to 35% for individuals. On the Canadian side, the range is 15% to 29%. Overall, it’s a bit more expensive to live in Canada than the US, and much cheaper than living in Europe. Taxes are higher, but generally people are paid more to compensate.
However, data from the OECD show that Canadians are lower-taxed than Americans. According to the Huffington Post, in the U.S., the same family would pay 14.2 per cent in taxes, a tax rate some 12 times higher than in Canada.
A brief note on France.
In practice, less than 50% of inhabitants in France pay any income tax at all; only around 14% pay at the rate of 30%, and less than 1% pay at the rate of 45%. According to the French tax authority, taxes range from 14% up to 45% for the wealthiest citizens. Like here in the US, there are citizens that pay no income taxes based on wages or other tax credits or exemptions.
WHY ALL THE UPROAR OVER UNIVERSAL COVERAGE?
First, we know right off the bat that no two countries are
alike. Those that are third world are still trying to get clean water and
internet access; therefore, universal healthcare is a privilege as water is a basic
human need and a right. You know which one those countries are focused on.
However, the United States is by far the RICHEST country in the world.
Even with the deficit being 18 percent greater than last year, as the US is spending $4.4 trillion and has a revenue of only $3.4 trillion, which is a $1 trillion-dollar annual shortfall. We are still the RICHEST.
That is still the case even with the US debt being $22 trillion, and America owing the Chinese $1 trillion of that huge number. We are still the RICHEST.
However, roughly 15% of the US population are uninsured or
lacking in health insurance coverage in some form.
Therefore, from people looking from the outside in, they are
scratching their heads as to why we cannot offer universal healthcare to its
citizens.
College is a reward for surviving high school. – Judd Apatow
Let’s face the facts. A college degree is not as valuable as
it used to be.
Many folks are landing starting salaries well below what it
cost them to get that required degree before starting that job that pays less
than what it cost to go to school to qualify for the job in the first place.
According to PayScale, the typical college graduate with
zero to five years of experience is raking in $48,400.
The National Association of Colleges and Employers (NACE)
states that average starting salary for graduates is about $50,004. So what
does that say about paying $100,000 for that creative writing degree? That it
is overpriced.
Let’s get down to brace tacks.
HOW MUCH MORE IS COLLEGE TODAY?
The price of college has now outpaced inflation.
college-education.procon.org
The average yearly cost of 4-year public college cost from
1971-2016:
2016: $20,967
1971: 8,734
140.1% increase in college costs
During that same period of time wages decreased by 5.4% over
those 45 years.
You read that right. Wages actually went DOWN instead of UP
with a college degree in your hand.
WHAT IS THE PRICE OF COLLEGE VS THE VALUE OF YOUR EDUCATION?
After you get that degree, then you have go out and get that
coveted job. You want a great starting salary, but most employers will tell you
they cannot quantify your knowledge but so much.
Really?
Cause college are sure about to slap a price tag on getting
that knowledge.
Why not offer the same salary as the cost of the degree?
For instance, if you pay $45,000 for your sociology degree,
then that would be your starting salary.
Let’s think about that for a second.
What if colleges and employers printed the cost of degree
and payment for that degree? Then you would see something like this:
Petroleum/Mechanical Engineering: Degree cost and starting
salary $90,000.
Psychology: Degree cost and starting salary $47,000.
That would alleviate a lot of stress and salary negotiations
right there.
THE MOST EXPENSIVE DEGREES ON THE PLANET
“A university is just a group of buildings gathered around a library.” ― Shelby Foote
Education is an asset. And investing a great deal of money
in a degree doesn’t necessarily guarantee a first-class education. However, it
can alter the trajectory of your life if you are able to parlay all those late
nights writing papers into some serious coin.
As of 2019, Harvey Mudd College has taken the crown for the
most expensive college in the world costing students approximately $57,401 for
the upcoming 2019/2020 academic school year.
If we time that by four, which is being nice considering the
average college kid is graduation in 5-6 years, then we get a mind-blowing
$229,604!
For some perspective, if we invest that money instead over
four years and let it ride, then after 30 years with an 8% return you would
have $2,310,426.27! Yes, those four years cost you over $2 MILLION!
You literally could have used your college savings and
invested every penny in the stock market and gotten a higher return than what
many will get after 10 years of drudgery repaying that $200,000.
It gets even more expensive if your kid starts in at the top
and goes to a private school from K-12. This could cost you even more and the
losses start to really pile up!
Say those adolescent years are spent in some swanky private
school at $50,000 a year. Over the course of 13 years, you would have paid
$650,000! Add that $229,604 and you are staring at education bills of almost
$900,000!
I would take a check for $900,000 at the age of 22 any day
of the week over going to fancy private schools for 17 years!
And just in case you were wondering.
If you invest that $50,000 private school money over 13
years in the stock market, you would have $1,160,746.02 with an 8% return. And
add in four years of college, that would net you $1,822,512.19.
Going to public school isn’t looking so bad now is it?
Here are some of the most expensive colleges in the United States and the world.
These 12 colleges are currently the most expensive in the United States:
12. Duke University (18) 2018-19 Tuition & Fees: $55,960
11. Bucknell University 2018-19 Tuition & Fees: $56,092
10. University of Southern California 2018-19 Tuition & Fees: $56,225
9. Tufts University 2018-19 Tuition & Fees: $56,382
8. Amherst College 2018-19 Tuition & Fees: $56,426
7. Franklin and Marshall College 2018-19 Tuition & Fees: $56,550
6. Landmark College 2018-19 Tuition & Fees: $56,800
5. Harvey Mudd College 2018-19 Tuition & Fees: $56,876
4. Trinity College 2018-19 Tuition & Fees: $56,910
3. Vassar College 2018-19 Tuition & Fees: $56,960
2. University of Chicago 2018-19 Tuition & Fees: $57,006
1. Columbia University 2018-19 Tuition & Fees: $59, 430
These 11 colleges are currently the most expensive in the world:
11. Yale University 2018-19 Tuition & Fees: $49,480
10. UCL (University College London) 2018-19 Tuition & Fees: £9,250 or $12,080 USD
8. University of Chicago 2018-19 Tuition & Fees: $57,006
7. Princeton University 2018-19 Tuition & Fees: $43,450
6. California Institute of Technology 2018-19 Tuition & Fees: $45,390
5. University of Oxford 2018-19 Tuition & Fees: £9,250 or $12,080 USD
4. Harvard University 2018-19 Tuition & Fees: $46,340
3. University of Cambridge UK (United Kingdom) 2018-19 Tuition & Fees: £9,250 or $12,080 USD
2. Stanford University 2018-19 Tuition & Fees: $46,320
1. Massachusetts Institute of Technology 2018-19 Tuition & Fees: $47,704
Those are expensive colleges.
Did you know you could go to university cheaper abroad?
For some perspective on exactly how expensive colleges are in the United States, as an international student you could go to the same college as Prince William and Duchess Kate Middleton for less than it costs to go to Harvard, Yale, or Princeton! The cost is £20,770 or $27,125 USD. That is what it would cost annually to attend the University of St Andrews.
NOT ALL DEGREES ARE CREATED EQUAL
Education is not an equalizer. If you go to the same college as a science nerd majoring in Math, while you are majoring in philosophy, you both are not on equal footing by a long shot.
In light of the recent college bribery scandal, let’s talk top-tier universities.
If you were to get an acceptance into Yale or Duke University,
congrats to you, as you are among the college elite. However, don’t break out
the celebratory champagne just yet.
Although you and another student may be paying the same amount to go Duke, if you major in a different field, then that degree can easily eclipse yours.
Put it this way. You and another student both pay $48,000 a
year over four years. That is $192,000. You become an engineer raking in big
bucks right after grad by getting a starting salary of $95,000. Your friend on
the other hand, let’s call him Joe, majored in piano or violin and is only able
to get a starting salary as a backing musician for $38,000.
That is a difference of $57,000 a year.
You ask how is that so? We went to the same university. We
paid the same amount.
Yes, but your degree is in higher demand than Joe’s.
Then you may ask yourself: Well why didn’t Joe pick a more
in demand degree? And therein lies the rub.
Joe is a skilled musician. That is where his passion and
interest lie. Even if he would have seen a brochure, which there aren’t any in
wide circulation on any college campuses that I have ever been to, showing the
starting salaries of majors he still would have chosen music.
The playing field of majors is not level. Therefore, you
need to decide before you even step foot on a college campus what you want to
be.
This is a small list of what employers are paying for
college majors.
My suggestion is that you do a search on what it costs and
what it pays to be a lawyer, accountant, doctor, or violinist. When you know
what your options are, then you can at least make an informed decision.
