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Why You Should Always Trust But Verify

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Trust, Faith, Encouragement, Trust

“All the world is made of faith, and trust, and pixie dust.”
― J.M. Barrie, Peter Pan

Trust is a five-letter word. A word that is small in size, but whose meaning is of monumental importance.

Today on Greenbacks Magnet we are spilling the tea and reading the tea leaves on the topic of personal finance.

Somewhat like Jalen and Jacoby do on their podcast.

This is a no-holds barred conversation about getting your fiscal house in order.

If I had a podcast right now, I have several friends or family members that could be my partner on this magic carpet ride. Aladdin had Princess Jasmine. Jordan had Scottie Pippen. Keenan had Kel. Barack has Michelle. Oprah has Gayle. Key had Peele. Batman has Robin. Kermit the Frog has Miss Piggy. Jalen has Jacoby.

Having a partner just makes things more fun.

I ask my significant other all the time, “Are you gonna back me up?! Are you gonna be the pip to my Gladys?!” I need people with good character that I can trust around me.

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It’s like my man Shakespeare says, “Love all, trust a few, do wrong to none.” ― William Shakespeare, All’s Well That Ends Well

Trusting people with your money comes with huge financial risks! And I notice it is more risk than reward. You have to be on top of things when it comes to your money.

So today, I am going to give you some real stories of private conversations I have been in, eavesdropped on, and stood witness to in hopes it might help you more easily navigate these hostile fiscal waters out here in these mean streets.

I’m doing it Jalen Rose and David Jacoby style for those of you ESPN fans out there, you know what I’m talking about.

I want you to trust my advice, and me but I also want you to verify it.

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Let’s get started and dive right in.

In the spirit of Jalen and Jacoby:

Got to give the people…

Give the people what?

What they want!

What do they want?

Current events! They want you to spit that hot fire!

And in this blogs case FIRE is Financial Independence, Retire Early!

TRUST, BUT VERIFY

That is a famous quote uttered by former President Ronald Reagan during the Cold War.

He was a former Hollywood actor turned politician, which was unheard of at the time in 1981. My how times have changed.

Reagan also gave us Reaganomics, also known as Voodoo Economics, it works as crazy as it sounds. Voodoo (magic) is French in origin and hails from Louisiana around the 1700’s, which is before the Louisiana Purchase between the United States and France, negotiated by President Thomas Jefferson and Napoleon in 1803.

Therefore, the term Voodoo Economics simply means magic economics or finances (magic money).

There goes that Peter Pan quote I put at the top circling back to us as magic money is like pixie dust! It just doesn’t exist! In my mind, this is like creating money or great finances out of thin air.

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It’s kind of how 50 Cent said he owed $8 million worth of Bitcoin when he owed nothing and created $8 million of wealth for himself in the eyes of his followers on Instagram because we are all just, and I roll my eyes as I type this, “living for the Gram.” I discuss fifty and the Gram on this post.

According to Psychologytoday.com, Reaganomics is this in that “the simple answer: when the outcome is essential and matters more than the relationship, use “trust, but verify.” When the relationship matters more than any single outcome, don’t use it.” Basically, if you are unsure of how to proceed in making a decision where the outcome can be life-changing, then do your research to uncover the facts before saying yes.

In my opinion, that means reviewing credit reports before walking down the aisle.

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Why should I commit to someone with four felonies, two bankruptcies, a property lien and $50,000 of back taxes owed to the IRS without knowing what I am getting myself into. You would be surprised what you uncover with a simple credit report.

A woman has a right to say no or change her mind about marriage all the way until the time she is in front of the minister. It’s cool to trust your partner when they say they paid off that Neiman Marcus credit card, but request that copy of the credit report baby to verify.

WHAT IS REAGANOMICS?

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Reaganomics, or Reaganism, refers to the economic policies promoted by U.S. President Ronald Reagan during the 1980s.

The economic policies of the former US president Ronald Reagan, associated especially with the reduction of taxes and the promotion of unrestricted free-market activity. “the claim that cutting taxes generates more revenue was a key element of Reaganomics”

When looking up Voodoo Economics this pops up in the search: an economic policy perceived as being unrealistic and ill-advised, in particular a policy of maintaining or increasing levels of public spending while reducing taxation. “as governor, he put into practice the same voodoo economics that he would later impose on the country as president”

I will give it to you in layman’s terms, give more to the rich and their gains of money and benefits should also find it’s way down to everyone else.

It’s the reverse of Robinhood’s theory of taking from the rich and giving to the poor, by instead giving to the rich. There you have it. I just gave you the premise of Trickle-down Economics.

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WHAT IS TRICKLE-DOWN ECONOMICS?

Great question. Trickle-down economics, also called trickle-down theory, refers to the economic proposition that taxes on businesses and the wealthy in society should be reduced as a means to stimulate business investment in the short term and benefit society at large in the long term. 

According to thebalance.com writer Kimberly Amadeo, Trickle–down economics is a theory that claims benefits for the wealthy trickle down to everyone else. These benefits are tax cuts on businesses, high-income earners, capital gains, and dividends. … All of this expansion will trickle down to workers. 

I don’t know about that.

When I look to my left on the West Coast, I see massive homelessness.

When I look to my right on the East Coast, I see wage stagnation.

Taxes got cut, but people are in even more debt. When the top 10% of the richest American households own 84% of the stock market wealth in the country something is terribly askew.

I call gentle bullshit on all this record stock market gains that is causing the country to grow wealth for all.

It seems more that instead of lifting all boats to prosperity for 99% of the population, stocks are lifting a few yachts of the 1%.

In the illustrious words of Sheldon Cooper, pardon me, I mean Dr. Cooper, this is a bunch of hokum. I mean the term even has the word trick in it. Hello?

WHEN IN ROME, TAKE OUT MORE DEBT

I have seen stuff you would not believe people have done when it comes to their money.

I saw a couple of government workers deciding to take on an $800,000 mortgage. Don’t ask me why. After 30 years of payments, they will have paid $1.6 million for a pile of bricks they are never at because they are always at work. Then the husband loses his job and they lose the house!

If you do not have $1.6 million in retirement or other assets, then you cannot afford or should not buy a home for three-quarters of a million.

Since, many college students see their friends take out loans to fund spring break trips they feel they are entitled to do it too! I actually knew someone who got a boob job and paid off a car with a student loan refund.

I hear tons of people say they are never going to retire, can’t afford college, and will work forever but no one wants to downsize their $400,000 mortgage. If they want it, they get it. How you ask? Do what the neighbors did and take out a HELOC.

A FLY ON THE FISCAL WALL

I’m about to spill that tea so don’t blink or you might miss it!

Overheard around an office watercooler.

“I owe $100,000 in back property taxes to the IRS.”

Overheard at the nail salon.

“I bought a $700 Gucci belt.”

Heard it from a friend.

“My daughter wants a pair of Gucci boots.”

Come on now. I have said it before. The only teenager that deserves a pair of Gucci boots is on stage with her two friends Kelly and Michelle.

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A grandmother recounting her money woes to me.

“I am in $25,000 worth of credit card debt. I am on a fixed income. My granddaughter was supposed to use my credit card for a one-time charge to pay her auto insurance when she got a new car and then I found out she never stopped it and I paid for the whole year! When I asked her for the money back she said she didn’t have it and then told me about all the bills she has.”

A male-exotic dancer told me, “I strip because I don’t make enough at my job to live on that.”

The guy who can’t pay his child support who owns a Range Rover and house is constantly in danger of foreclosure.

A beauty salon owner who confided in me. Her child support payment is $25 a month and the father keeps quitting his job so he don’t have to pay it! At the tender age of 25, she also decided to lease a beauty shop and buy a home. She said, “It’s like paying two mortgages.”

Another friend.

“I would rather struggle today and get my forever home, than buy a starter home and have a smaller home and have to move.”

A cousin.

“I can’t make too much or they will take me off Section 8 housing.”

Just FYI, many safety net programs do not allow you to make too much or have too much in savings or assets. If you have more than $2,000 in checking, you could lose all income assistance benefits and NEVER be able to get back on. Essentially, keeping the poor trapped in a cycle of poverty.

CHANGE THE MONEY GAME

There is a saying. Control your money; control your life. When you know how money works life is easy. When you don’t, life is hard.

I read every book I can get my hands on about finance. I have learned about taxes, insurance, stocks, real estate, and entrepreneurship.

Here are a couple books I have read that changed my money mindset.

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Some things I have done to build wealth and start saving over $13,000 a year.

I stopped getting personal loans. It took me years to pay off a $20,000 personal loan. I took that $333 monthly payments and started saving money.

I once had a $448.65 car payment. I paid off the car and started investing that money.

I started studying the stock market.

I cut out buying clothes and all shopping and stared saving over $8,000 a year. I canceled subscriptions. Maybe Jillian Michaels may want to do the same as on her Instagram, cause you know we are all “living for the Gram,” she stated she would like to figure out how “like to get my American Express bill down.” 

I only spend on things I love and I cut spending mercilessly on the things I don’t.

I transferred over $84,000 out of multiple stock funds and placed my bet on one 500 index fund.

I write money milestones.

The goal is to be a 401(k) millionaire.

By investing over 25% of my income into things like the VFINX, VFIAX, or VTSAX, I can make this dream a reality.

Milestone number one was $100,000 in Mr. Market. I hit that marker and kept on climbing.

The money starts accumulating faster like a freaking avalanche once you have that first $100k. The next stop was $200,000.

Then I started making my way to a quarter million.

I estimated that once you hit $250,000, then you can get to millionaire status in 14.5 to 23.5 years with a 6% or above interest rate. And that is without adding another dime.

Once you get to one-quarter of a million, the other three-quarters are not too far behind.

If you could invest $20,000 a year including employer match, you could be a millionaire in 10 years with a 10% return with a principal investment start of $250,000.

That first $100,000 is your capital to a better future. It plants the seed money from which the rest of the harvest will grow.

DROPPING DIMES LIKE SCROOGE MCDUCK AND OTHER MONEY HINTS

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Dropping dimes used to mean putting a dime in a payphone to connect with someone.

Now it is used more figuratively than literally as in giving some knowledge in this case.

The reason I invest most of my money in index funds is this piece of advice from Warren Buffet.  

He instructed the trustee in charge of his estate to invest 90 percent of his money into the S&P 500 for his wife after he dies.

Warren Buffet is worth $81 billion. Most of his wealth came after the age of 50. Buffet gained 99% of his wealth after 50. That 1% of his wealth took 50 years to build, the other $80 billion too like 25 years or less than half the time it took to get the first billion.

He had to create companies, invest, graduate from Columbia, start businesses, and save the excess for 50 years to create the other 99% of his wealth!

In farming, like 99% of the crop comes from just 2% of the seeds that survive. Every time you invest your money, you are sowing seeds for your future self.

Focus less on buying luxury and focus more on buying assets to pay for luxury. I even get inspired by fictional cartoon characters like Scrooge McDuck and his number one dime story.

In a book I read, they state three of their truths about money. She stated, “the Scarcity Mind- set taught me the three lessons that would eventually turn me into a millionaire:

Money is the most important thing in the world.
Money is worth sacrificing for.
Money is even worth bleeding for.

Well, until next time party people. I’m out.

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Fictional characters Cartoons and Money, Investing

Stock Splits And Misfits

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Once you start getting interested in finances, it is inevitable that you will eventually start researching individual stocks.

All the financial pundits and mathematical experts will tell you not to invest in individual stocks. I get it. It’s the age old active versus passive investing argument.

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If you buy one stock and it goes under, you have lost all your money in that stock.

However, if you buy a passively managed index fund, then if one company fails, it is replaced by another and your money is still out there working for you.

Although most of my stock portfolio is invested in index funds like the VFINX, I too own single stocks.

It’s the thrill of the chase that gets be going after these companies. I love researching companies. Some of these businesses have more drama behind the scenes and among the management than Gossip Girl!

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See my post Money Advice From Gossip Girl

So sit back and relax while I bring you some stock gossip. You can stop flipping through that latest Cosmo or Barron’s article for just one second, put down that New York Times crossword puzzle, pause that rerun of Billions, book mark your spot in The Wall Street Journal, while Greenbacks Magnet presents to you Stock Splits and Misfits.

Cause you know, everyone just loves juicy gossip. XOXO 💋

WHAT HAPPENS WHEN YOU DECIDE TO GO ROGUE

Just between you and me, I am especially fond of these two stock holdings. I will let you in on which two stocks I enjoy individually owning: Apple and Berkshire Hathaway. The year was 2013. I wanted to have a little fun and invest some money. Therefore, I decided to buy shares of Apple and Berkshire.

For those who may not know, Berkshire Hathaway is the most expensive stock in the world priced at 321,600 as of 01:56 EDT PM 07/02/2019. For some added perspective on this stock, in 2011 it was priced for the low, low cost of $115,750; therefore, this one stock has almost tripled in price. That is incredible!

Berkshire Hathaway (NYSE:BRK.A) is the holding company of famed investor, Warren Buffett. Notable companies under the Berkshire umbrella include Geico Auto Insurance, Helzberg Diamonds and The Pampered Chef. Buffett, long a critic of short-term trading, has kept the A shares at a high valuation in order to decrease the volatility that comes from short-term trading.

Unless you have over $300,000 lying around in your personal bank vault, then you will have to stick with buying the B shares of this stock.

In January 2010, Berkshire’s B shares (NYSE:BRK.B) underwent a 50 to 1 stock split, bringing its price down from around $3,476 to about $69.50 per share. That is a huge discount! To get a piece of the Buffet pie, I will gladly pay this price. Unfortunately, I bought when prices were higher; I paid about $75-$100 bucks a share. However, I still came out ahead as now the stock is going for $213 a share. Not bad. That’s a pretty good haul for just pressing the buy button.

See my post Precious Stones Of Wisdom: Life Lessons From Indiana Jones And The Temple Of Doom

WHAT IS A STOCK SPLIT

A stock split or stock divide increases the number of shares in a company. A stock split is an issue of new shares in a company to existing shareholders in proportion to their current holdings. The price is adjusted such that the before and after market capitalization of the company remains the same and dilution does not occur.

IS A STOCK SPLIT GOOD OR BAD

According to Nerdwallet, when you had to split something as a kid, that generally didn’t feel like a perk. But when you’re an investor, splitting can be a good thing. Stock splits are a way a company’s board of directors can increase the number of shares outstanding while lowering the share price.

WHY WOULD A COMPANY SPLIT ITS STOCK

A stock split is used primarily by companies that have seen their share prices increase substantially and although the number of outstanding shares increases and price per share decreases, the market capitalization (and the value of the company) does not change. Simply put, just like the value of the $100 bill does not change if it is exchanged for two $50s.

However, not all stocks are created equal. That is why I do my homework first before buying ANY STOCK. There are some misfits out there that you do not want to buy. Basically, you get what you pay for. It kind of reminds me of The Misfits from the Jem and the Holograms cartoons.

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If you read my Meet Miriam page, then you know it’s one of my favorite cartoons.

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And because July fourth is around the corner, here is a shout out from The Misfits themselves!!!

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SPLITTING THE APPLE

And last but most certainly not least, I give you Apple! I purchased stock in Apple (APPL) in 2013, when it was going for around $60 a share. Fast forward to 2019, and the stock is over $200 a share! I got in just in time.

It just so happens that the year after I purchased 5 shares for my birthday, in 2014, Apple split the stock. It all went down on 06/09/2014 as Apple did a 7 for 1 split.

My 5 shares turned into 35 shares overnight!

All this happened simply because I did some homework and took action. Calculated risks can pay off. Remember that fortune favors the bold. In the illustrious words of Jem, “outrageous!”

Comics and Comic Book Reviews, Fictional characters Cartoons and Money, Financial Freedom, Financial Independence, Investing, Saving

3 Money Tips From Betty And Veronica

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My two biggest influences are Archie comics and Dennis the Menace.- Gilberto Hernandez Guerrero

I have always been a huge fan of Archie Comics.

Archie Comics is a owned by Archie Comic Publications, Inc. is an American comic book publisher headquartered in Pelham, New York. The company’s many titles feature the fictional teenagers Archie Andrews, Jughead Jones, Betty Cooper, Veronica Lodge, Reggie Mantle, Sabrina Spellman, and Josie and the Pussycats.

Growing up an Archie comics fan or Archiekins fan, as I like to call it, was a lot of fun. Loved the stories. The comedy was top notch. The drawings were colorful. The stories were insightful. And even though the star was Archie Andrews, my favorites were best friends and worst enemies – Betty Cooper and Veronica Lodge. Their love triangle and rivalry over Archie goes back over 70 years! Since about 1942. They been fighting over this red-headed punk since the 50’s! Call it what you want. Madness or chaos or for better or worse, Betty & Veronica are in it to the very end to fight over the affections of Mr. Andrews.

The comics are still popular. So much so that The CW show Riverdale was created for television.

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“Don’t underestimate her and don’t bet against her.” – Archie Andrews, KJ Apa in Riverdale

However, this post is going to focus on their financial lives. Here are 3 money tips I learned from Betty & Veronica!

MONEY TIP ONE: SPENDING LOTS OF MONEY WILL NOT EVER LEAVE YOU SATISFIED

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You think blowing tons of dough on shopping sprees will make you happier? Then think again.

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If you have ever seen Uninterrupted Kenading Dough, pun intended, then you know even millionaire NBA players are watching their finances. In an episode with Draymond John, The Golden State Warrior talks his first big check, how he learned how to manage his finances and more.

He is trying to create generational wealth for his family. Mighty important in my money playbook! In addition, that he wants to be a billionaire by age 40. That is not a typo. I did not stutter. He said billionaire with a B and not millionaire with an M.

How is that possible? Well, if you invest instead of spend, you can make your wildest dreams come true.

Think of it like this. If you have a $1,000,000 invested with an 8 percent return over 40 years, it would net you $10 million. So imagine if you have that $10 million from the start. You could have over $200 million in that same 40 year time period by just letting it ride.

Therefore, when you think of life, money, saving, and investing: Think Bigger!

MONEY TIP TWO: ONLY HIRE A PROFESSIONAL IF YOU DO NOT THINK YOU CAN DO IT YOURSELF

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Some of you may not know it out there, but where you invest your money matters. One of the reasons many bloggers like myself prefer Vanguard are the fees.

Many other brokerages may charge anywhere from 1 percent or higher. Vanguard typically charges less that 1% for all of its funds. It’s admiral funds are among the cheapest!

Saving 1% in fees can mean the difference of having an additional 10 years of retirement income.

Therefore, my suggestion is that you focus on limiting the amount of fees you pay for your investments, if you want to get and stay rich; pay less in fees.

See my posts

Avoid Bank Fees And Get Rich

Avoid Paying Interest And Get Rich

MONEY TIP THREE: THE SIMPLE LIFE IS CHEAPER

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Betty was always the rational, cool and level-headed one of the trio. She was good-natured and down to earth compared to the glamorous vamp Veronica.

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Mature beyond her years and nice, Betty, was the calm in the otherwise hectic dating storm that was between the girls and Archie.

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Veronica was rich and spoiled, but Betty was middle-income and demure. If you want to live lavish, then be my guest.

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However, if you are unprepared when the credit card bills arrive, then you are in trouble. Being sued by your land lord because you spent all your money at the mall looking cute is just plain idiotic.

Worse yet, living in your parents basement with maxed out credit cards while you pay $0 in rent!

Focus on keeping your housing, transportation, and food bills low so you can keep your savings high.

It was a great feeling when I was able to start saving and investing over $10,000 a year. My goal was financial independence.

That would mean I saved and invested $100,000 in 10 years! That does not include any earned interest. With compound interest, I was able to save, invest and earn $50,000 in only 2 additional years!

Forget spending and shopping. Keep your eye on the prize.

Forget Vegas baby! It’s all about Financial Freedom baby!

So those are my 3 tips from Betty & Veronica. I’m signing off now.

All my love.

Your hostess with the mostest,

Greenbacks Magnet Smooches 💋

Fictional characters Cartoons and Money, Financial Freedom, Financial Independence, Investing, Saving, Video Games Reviews

Hedgehogs And Hedge Funds

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Have you ever heard of a hedge fund? If not, I will explain here for you.

A hedge fund is an investment pool with a limited partnership of investors that uses high risk methods, such as investing with borrowed money, in hopes of realizing large capital gains.

A simple hedge fund definition is: a hedge fund is an alternative investment that is designed to protect investment portfolios from market uncertainty, while generating positive returns in both up and down markets. Throughout time investors have looked for ways to maximize profits while minimizing risk.

Hedge funds got their name from investors in funds holding both long and short stocks, to make sure they made money despite market fluctuations (called “hedging”).

According to Jim Cramer’s thestreet.com, because of their nature, hedge funds are typically only open to qualified (read: well off) investors, although not exclusively.

Simply put, a hedge fund, like a hedgehog, has a narrow focus and does one thing really well, which is to make money no matter what. However, in life it is usually the person who has much knowledge, as Rory Gilmore of Gilmore Girls would always say, that tends to do better in life.

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Knowing a lot about one thing (like a hedgehog) is great, but knowing a little about a lot of things (like a fox) can be even better.

Truth be told, I just want to collect my compound interest and dividends the same way Sonic the Hedgehog collects those rings.

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Sonic, the protagonist, is an anthropomorphic blue hedgehog with supersonic speed. Typically, Sonic must stop antagonist Doctor Eggman’s plans for world domination, often helped by his friends, such as Tails, Amy, and Knuckles.

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The game was released in 1991 and is still one of my favorite Sega Genesis games. Solving puzzles, saving his fellow animals, and the world is all part of Sonic’s charm.

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The Greek poet Archilochus wrote, “the fox knows many things, but the hedgehog knows one big thing.”  So which are you? Are you the hedgehog or the fox when it comes to investing?

IT ALL COMES DOWN TO RISK How risky are you?

Do you dive right in or do you take calculated risks?

In my experience, you should know your limits and then stop right there. Especially, when it comes to your money.

If you cannot afford to lose more than $100, then that is your risk level. If you cannot lose more than $5, then that is your risk level.

Once you decide to cross that mark, then you are in uncharted territory my friend. You do not have to push yourself to the limits.

Unlike Archer, the world’s greatest spy, you do not have a private detective or any other type of agency that will bankroll or bail you out in case of an emergency.

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You must provide your own safety net by hedging your bets and always having an emergency fund.

SAVING FOR A RAINY DAY OR A MONSOON, WHICHEVER COMES FIRST You must hope for the best, but prepare for the worst.

Remember prince charming or princess moneybags is not coming. You are ON YOUR OWN!

Once I learned this lesson, I took steps to change my financial life. First, I set a goal. Second, I wrote it down. Third, I executed. Lastly, I watched my bank balance go up. As will you, if you follow this plan.

You need to set a goal. Mine is $100,000 USD in savings. Then you must write it down, as a goal that is only in your head is a wish. Then you make a plan and get to action. Mine was setting a savings goal per year and went like this: Year 1: $600 saved Year 2: $1,200 saved Year 3: $3,500 saved Year 4: $13,333 saved Year 5: 14,000 saved Year 6: $15,000 saved Year 7: $17,000 saved Year 8: $18,000 saved Year 9: $20,000 saved Year 10: $25,000 saved

If you add these yearly amounts, you will see that by year 9 I will have saved $102,633.

My goal will have been met after almost a decade of diligent saving. You are no longer living paycheck-to-paycheck and can handle any emergency that comes your way.

SLY AS A FOX BUT THE FOCUS OF A HEDGEHOG I say why not take attributes from both.

Be agile and cunning when it comes to investing and staying away from actively managed funds in favor of passively managed index funds.

Your laser-like focus will be on index funds just as a hedgehog is good at that one thing, you will be at focusing on one index fund: VTSAX.

This fund is all inclusive as it holds the entire stock market in its hands. You will see that over time the price has gone up. Therefore, as an investor, you must play the long game. When stocks go down, you buy. Basically, whenever there is a recession. When they go up, you hold.

This is solid advice. I need you to listen. Please don’t go. DON’T HANG UP!!! WAIT!! BUT…BUT…

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If you want to place your bet on this course of action, I will bet you the same amount as Eddie Murphy and Dan Aykroyd did in Trading Places, $1!!! As that is my risk level, in this instance.

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Good luck out here in these investing streets.

Price – VTSAX

Current prices

Price as of 06/25/2019$72.22
Change-$0.68 -0.93%
30 day SEC yield
as of 05/31/2019		1.96%B
52-week high 09/20/2018$73.65
52-week low 12/24/2018$58.19
Range$15.4626.57%
Fictional characters Cartoons and Money, Financial Freedom, Financial Independence, Retirement, Television Shows and Money, Wealth

Life Lessons I Learned From A Goofy Movie

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If you grew up in the era of after school cartoons, then prepare to be nostalgic. This time I’m going back to 1995. Let’s get goofy… as in A Goofy Movie that is.

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A Goofy Movie was released theatrically on April 7, 1995, by Walt Disney Pictures, and made $35 million at the box office.

A Goofy Movie is a 1995 animated musical comedy film produced by Disney MovieToons and Walt Disney Television Animation and distributed by Walt Disney Pictures. The film is based on The Disney Afternoon television series Goof Troop created by Robert Taylor and Michael Peraza Jr. and acts as a follow-up to the show. It features the voices of Jason Marsden, Bill Farmer, Jim Cummings, Kellie Martin, Pauly Shore, Jenna von Oÿ, and Wallace Shawn.

Taking place a few years after the events of Goof Troop, A Goofy Movie follows Goofy and his son, Max, who is now in high school, and revolves around the father-son relationship between the two as Goofy takes Max on a fishing trip out of fear that Max is drifting away from him, unintentionally interfering with Max’s social life, particularly his relationship with Roxanne, his high school crush and dream girl. This movie also featured 2 songs by R&B singer and superstar Tevin Campbell.

The film was so much fun, uplifting, and family oriented that I had to give it some love her on my website. The movie just melts my heart 💖But first…What is Goof Troop?

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Goof Troop bears similarity to several early-1950s Goofy cartoon shorts which depicted Goofy as a father to a mischievous red-haired son. Goofy, a single father, moves back to his hometown of Spoonerville with his son, Max. Their next door to Goofy’s high school friend: Pete and his family. His son P.J. (Pete Jr.) befriends Max. Max and P.J. become best friends and do practically everything together. A large portion of humor comes from the relatively normal Max’s personality sharply contrasting with his father.

And love the theme song by Phil Perry.

H-h-h-h-hit it!
Like father, like son
You’re always number one
Best buddies, best pals (Yeah!)
You always seem to work things out

Can’t you see you’re two of a kind?
Looking for a real good time(Real good time)
Report to the Goof Troop
And we’ll always stick together
(Yeah!) We’re the Goof Troop
Best of friends forever

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Now let’s talk about A Goofy Movie!

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DREAMS ARE A WISH YOUR HEART MAKES AND ARE MEANT TO BE FULFILLED I love how the movie starts. Max ( Jason Marsden) is dreaming of his high school crush Roxanne ( Kellie Martin).

However, before his dream can come true he wakes up!

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Fun Fact: A dream is a wish your heart makes is a song that’s in another Disney Film: Cinderella, which is from 1955. And I love Cinderella stories! See my post Money And Life Lessons I Learned From CBS Storybreak’s Yeh-Shen (A Chinese Cinderella Story)

I am all too familiar with having a dream.

Most people do not know this, but since I was a little girl I always had a dream to be rich. I just always knew that I did not want to worry more about money than helping people. Therefore, I figured out ways to live on less so that I could find ways to earn and save more.

First, I wrote down a plan. Second, I knew getting a good education was key so I went to an in-state, affordable college to lessen debt. Lastly, I refused to buy expensive or big ticket items i.e. $800,000 home, $70,000 vehicles, and $5,000 annual vacations.

I knew I needed my money to go to work for me. I needed to invest. So what’s it gonna be? 🤔 Real Estate? Stocks? Bonds? Mutual Funds? Art? Since stocks are more bang for my buck , as high-quality, dividend-paying stocks have proven to be the best way to make money over any twenty-year stretch of time or longer, I put my money in stocks.

My mission: To invest $100,000 in the stock market. Challenge accepted! Like Max, I had my work cut out for me.

MAKE A PLAN In the film, Max decides he’s tired of being looked over and makes a plan to change his fate. After today he sangs, things will be different.

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Popular girl who ignores max.
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Pete, Max and Pauly Shore, err um I mean Bob, in An Extremely Goofy Movie picture image.

You got that right! Max dons the costume of his favorite popstar, Powerline (Tevin Campbell), and proceeds to perform the song “Stand Out” live in the school auditorium in front of the entire school. Talk about GUTS and going for the GLORY!

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Me and Max are very similar indeed.

Back in 2016, after years of reading other bloggers and dreaming of becoming one myself, I decided to change my fate and destiny forever.

After reading a post by Financial Samuari on how to start a blog, I decide to throw my hat in the ring. And here I am today. After today I thought, my life will never be the same!

Reading so many books and blogs about money, I learned how to save and invest more and spend less. In order to reach my goal of $100,000, I cut back spending. I went from saving 13-15% of my income to about 41% of my income going towards savings and investments! Remember this: NO GUTS, NO GLORY!!!

Back to Max, he now has gotten the attention of his dream girl. And the attention of the entire school including an older high school girl, that Roxanne’s best friend Stacy ( Jenna von Oÿ) tells her to do what The All American Rejects says to do Move Along. I know that’s right!!!😂

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See this, like me, Disney does fun facts too! 😉👍
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As soon as he finds a way to make his dream a reality, his dad, Goofy (Bill Farmer), decides they are drifting apart and need to go on a fishing trip to bond (and teach his son the perfect cast like his father taught him). After all that work Max just put in, he did what any teenage boy on an adrenaline high would do… he fainted.

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Fun Fact: Walt Disney is known for making animated films or shows as single-parent households in which the mother is missing. Think The Little Mermaid, Cinderella, Ducktales, and A Goofy Movie. There was always a close bond between the father and his children. This reminds us how important it is for a father to be involved in his child’s life.

See my posts Money Lessons I Learned From Scrooge McDuck and A Christmas Carol: Lessons in Finance, Business, And Life

SECRETS AND LIES OR LOANS Max decided to lie to his father in order to fulfill yet another lie that he told his friends about going to go see the Powerline concert live. This deeply hurts his father.

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In regards to loans, here’s a tip; do not invest borrowed funds. Invest cash only. Debt creates more debt. Cash creates more cash. It is just that simple.

FORTUNES FAVOR THE BOLD Max eventually comes clean to his dad and they agree together as a family to go to the concert. Father and son rocked it out!!!

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This all happened because Max finally had the guts to tell his father the truth. He also comes clean to Roxanne and she rewards him with a kiss. Max no longer being ashamed or embarrassed by his father introduces him to his dream girl Roxanne. Max took a chance and a huge risk, but it paid off in the end.

So remember this: Don’t do the boring thing, do the exciting thing.

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As for me, after I decided to start investing like crazy, I did hit my goal: $100,000!

Why $100,000 you ask?

Well, it’s like this. I did some research and found out how to build generational wealth over the long term. Investing is a long game. It takes decades to earn significant sums of interest.

Over 30 year time intervals, this is what can happen to money that is invested that earns 8% return.

Basically, invest and then do not add another penny to $10,000.

The First 30 years: $10,000 can turn into $100,000.

The Second 30 years: $100,000 turns into $1 million.

The Third 30 years: $1 million turns into 10 million.

The Fourth 30 years: $10 million turns into $104 million!

Therefore, you can turn small sums into vast fortunes over time.

That $100,000 is the golden ticket to prosperity my friends. Once you hit this milestone, your money starts to accumulate pretty fast.

That $100,00 can move mountains and turn small money pebbles into big money boulders! You just have to be bold enough to make a plan and execute it.

A dream may be a wish your heart makes, but a goal is a carefully crafted plan that is written down. So when in doubt, BE BOLD!

Fictional characters Cartoons and Money, Financial Independence

4 Financial Futuristic Nuggets: The Economics of The Jetsons

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That’s what keeps me going: dreaming, inventing, then hoping and dreaming some more in order to keep dreaming. – Joseph Barbera

This is the truth: I’d rather fail at this, whatever failure is, than waste my life doing something elses, and feeling empty. – William Hanna

If you grew up in the 1960’s through the 1990’s, then you are sure to remember the Hanna-Barbera produced cartoon series The Jetsons. The Jetsons is an American animated sitcom, which originally aired in primetime from September 23, 1962, to March 17, 1963, then later in syndication, with new episodes in 1985 to 1987 as part of The Funtastic World of Hanna-Barbera block. It was Hanna-Barbera’s Space Age counterpart to The Flintstones, another show they also produced.

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In contrast to The Flintstones comical version “stone age” world, The Jetsons lived in a comical version of a futuristic world that was powered by gadgets, robots, and machinery.

nycscout/Flickr

The Jetson ran in reruns for decades on ABC starting in the 1963-64 season, and aired on Saturday mornings.

See my post What I loved about Saturday morning cartoons

The Jetsons stands as one of the single most important piece of 20th century futurism. The 24-episode first season has come to define the future of Americas present.

The Jetsons are a nuclear family in the “space age” future residing outer space in a place called Orbit City. The city’s architecture is Google style, and all homes and businesses are raised high above the ground on adjustable columns. The year is 2062. Although, the show always references it’s the 21st century. The family consists of a husband, wife, two kids and a dog.

Let’s meet the family.

“Meet George Jetson…”

George Jetson lives with his family in the Skypad Apartments: Jane his wife, daughter Judy, and his boy Elroy. He works at Spacely’s Space Sprockets where he has a (relatively stable job) *cough* *cough* sideways glance and air quotes insert here please.  

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Meet Jane his wife…

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His wife Jane is a homemaker, a mother of two children, enjoys the latest fashion, has a robot named Rosie that actually does most of the housework, and is obsessed with new gadgetry.

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Housekeeping is seen to by a robot maid, Rosie, which handles chores not otherwise rendered trivial by the home’s numerous push-button Space Age-envisioned conveniences. A show before it’s time. 😉

Robot Jar Opener

Her favorite department store is the Mooning Dales.  She enjoys charity work as she is a member of the Galaxy Women Historical Society and is an avid art fan of Leonardo de Venus and Picasso Pia.

I love how they take things and make them their own version on this show. However, somethings need no modifications or improvements. For instance, in my opinion, I say pay cash for all appliances like they did before the invention of credit cards in the 1950’s.

However, some things do. A great response that a movie star once gave when asked about changing silent films to “talkies” that is films with words, was the following:

“Talking pictures are like lip rouge on the Venus de Milo.” – Mary Pickford (The Queen of the Movies)

Variant: Adding sound to movies would be like putting lipstick on the Venus de Milo.

And meet their kids…

Daughter Judy: their teenage daughter Judy attends Orbit High School. She enjoys buying clothes, hanging out with boys, listening to music, having fun, and talking to her digital diary she calls DiDi. (That ain’t nothing but FaceTime 😉

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Some may even call it a Vlog or Vlogging, which is similar to a Blog and Blogging.

His boy Elroy: their son Elroy attends Little Dipper School. He is wicked smart. As sharp as they come, and just whip smart. He is a mild-mannered child that enjoys all space science such as astrophysics, star geometry, and space history. His best friend is his dog; the family pet dog named Astro.

Now, let’s talk about the future. Financially speaking of course.

Meet George Jetson . . . His boy Elroy . . . daughter Judy . . . . Jane his wife. I just love that song.

Fun Fact: The theme song to The Jetsons was a pop hit in 1986 on the Billboard charts.

MAKE THAT MONEY: FROM THE SALT MINES TO SPACE OFFICES

1. Earn a living

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George Jetson works for Mr. Spacely and he owns Spacely’s Space Sprockets. R.U.D.I.: is George’s work computer and one of his best friends. His name is an acronym for Referential Universal Differential Indexer and he has a human personality.

Based on which version you have heard, George works either one-hour-a-day, two-day-a-week or three-hour-a-day, three-day-a-week job. Either way that’s a workweek of no more than 3-9 hours. Pretty sweet!

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A common theme on the show was George being fired.

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That is all too common in today’s time too.

The retail apocalypse, such as the recent closure of Payless shoe stores, has cost thousands of American jobs. Toys R’ Us resulted in about the loss of 30,000 jobs alone.

Here is some dialogue from the show.

Episode Unilab (Nov 25, 1962)

George Jetson: It’ll be easy. I’ll just tell Mr. Spacely I’m very sorry and that I’ll never call him names again.

[Nearly has a head-on collision with another car]

George Jetson: Why you big strata-jerk. It’s vacuum-heads like you who keep fuselage and fender shops in business. Come on out and face the music.

Mr. Spacely: [Emerges from the other car] ‘Morning, Jetson. Nice day isn’t it?

George Jetson: M-M-M-Mr. Spacely, I presume?

Mr. Spacely: That’s correct. I hope you’re wearing your watch, Jetson, because you have exactly 5 MINUTES TO CLEAN OUT YOUR DESK!

Mr. Spacley: JETSON. YOU’RE FIRED.

Fun Fact: Forbes made a list in 2007 and figured out what 25 fictional companies would be worth in today’s market. Spacely Space Sprockets, where George Jetson worked, ranked number 25 on their list. Listing its worth as $1.3 billion. In the article it said, “[CEO] Cosmo Spacely’s coddled employees said to only work three-hour-a-day, three-day-a-week jobs, but workers must suffer his notoriously volatile temper and endure incessant termination threats.”

In the illustrious words of Charlie Brown, “Good Grief.”

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See my post on Life Lessons from Race for your life Charlie Brown

Although, on the show its comedy fodder, in the real world this is no laughing matter. Due to the lack of financial teaching and literacy in public school (where like 90% of preK-12 students go), many people are left unprepared financially for setbacks. You must plan ahead.

I read this information on public versus private school enrollment predictions in the Huffington Post. According to the U.S. Department of Education, most preK-12 students, about 91 percent, go to public school.  

I, personally, plan 2-3 years ahead or more if I can. I started by paying off debt, then rerouting that money to savings and investments. I have a minimum of 6 months’ emergency fund at all times, $100,000 invested in 1 out of 5 index funds, own a home that was way less than $1 million to buy, and am striving to have a 12-24-month emergency fund for those just in case moments.

THE GOLDEN AGE OF AMERICAN FUTURISM IN TECHNOLOGY

2. Automation is on the rise

The Jetsons it had everything our hearts could desire: jetpacks, video chats, e-books and electronic newspapers, flying cars, convertible objects, computerized watches (Apple Watch anyone?), robot maids, air chamber elevators, and moving sidewalks. They even predicted tanning beds! Tanning beds didn’t come into the U.S. until the 1970’s. This show first aired in 1962!

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The Jetsons showed a technologically advanced culture where the largest concern of the middle class was getting “push-button finger.” And yes, The Jetsons were middle class! And still living paycheck to paycheck in the techno-savvy utopian future.

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Grinding it out in the rat race.

” I told them 1,000 years from now or a million years, the problem is always going to be parking.” – Joseph Barbera

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Think people don’t think much of this show or write it off as merely a cartoon. Think again.

James Cameron was once asked about interactivity for future movies. He concedes it is far off and replies: “You’re talking ‘Jetsons’ here.”

Your girl, Greenbacks Magnet, even recently did a shout out to The Jetsons in a tweet.

See my tweet

MILLIONAIRE PETS

3.  Income Inequality

On the 15th episode of The Jetsons, which originally aired on January 6, 1963 and was titled “Millionaire Astro.”

This episode shows how their dog Astro came from money. Elroy found Astro on the street. His original owner wants him back. A custody battle over Astro ensues where the original owner wins and he is returned to the estate. Given a life of incredible wealth and boredom (All the steaks he can eat, all the bones he can gnaw on), Astro is depressed and drowned in wealth and extreme luxury.

Meanwhile, George teeters on the edge of middle and working class, while it seems that everyone is living in the lap of luxury, but tangible quality of life improvements have not funneled down to those at the bottom of the economic pyramid.

You may remember they did similar stuff like this at Walt Disney studios with the cartoon Ducktales.

See my post Money Lessons I Learned from Scrooge McDuck

Case in point, The Occupy Wall St. movement, Americans being reported to not have $400 to cover an emergency, little to no retirement savings, and living off meager Social Security and minimum wages.

 If my memory serves correct, didn’t Real Estate Mogul Leona Helmsley leave her dog like $7 million? In addition, I recently heard rumblings that the recently deceased Karl Lagerfeld (House of Chanel) and worth over $100 million, may have left $2 million to his dog? Interesting and disturbing.  

ENTERTAINERS ARE ALL THE RAGE OR A SCREAM

4. Rock star money

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One of the funniest things I ever saw on The Jetsons had to be Judy’s obsession with celebrity. And one in particular: Jet Screamer.

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He is the quintessential rock god. The sun, moon, and the stars revolve around him. People go wild when he comes in a room (as he always makes a grand entrance). You get to see first-hand that he is living a very different life than the average-joe.

In today’s time, that is still very relevant. I have nothing against people with talent or those that create something out of nothing.  It’s like Shakespeare says, “I am a true laborer. I earn that I eat, get that I wear, owe no man hate, envy no man’s happiness, glad of other men’s good.”

 However, after hearing so many stories of celebrities going broke, it makes me wonder if he really is making all the dough we think he is as a rock star. For all we know, Jet Screamer may be making $12,000 on 2.5 million downloads of music from Apple iTunes as I read something like that in an article online. Maybe, he is making $0 after all the money he owes to mangers, lawyers, stylists, and publicists. Who really knows?

See my post How Beyoncé and Jay-Z became a $1 billion couple

Regardless, this show was fun, vibrant, and cool to watch. It still is.

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