Today’s economy and YOUR money – what you should know

The recent (near) meltdown in the world’s financial markets have stirred up feelings of uncertainty and quite a great deal of panic.  It is difficult to connect what is happening at the macro level where the gods play to the micro level where we ants scurry.  What is important is to distill the noise down to the bare minimum:  a job which Ramit Sethi did so well (albeit a bit abruptly):

Key takeaway points:  Worry about the REAL risk.  Worry about not saving enough,  overspending on fluff, and not properly diversifying assets.  Don’t place ALL your bets on one “sure” thing.  If it’s only one,  then it definitely is not “sure”.

Now before you panic and unload all your equity investments because of fears the market will tank further,  ask yourself the ff:

1.  Why do you really want to sell?
2.  When do you need the money?

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Motherhood has a very humanizing effect. Everything gets reduced to essentials. ~Meryl Streep

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Saving and Investing: Michael Fischer makes the complex, simpler

I was surfing through youtube the other day and came across the savingandinvesting channel of Michael Fischer.  A former Goldman and Sachs man,  Michael has made financial literacy his personal advocacy and seeks to demystify various financial concepts for the man on the street. 

He writes: 
“This subject is not about greed, short-cuts, opinions or speculation – it is about being informed, and about being rewarded for participating in our financial system in order to provide better lives for ourselves and others that we care about.”

View one video a day and increase your financial knowledge bank.

Other key links:
The Website:  http://www.savingandinvesting.com
The Book:  Saving and Investing: Financial Knowledge and Financial Literacy that Everyone Needs and Deserves to Have!

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Motherhood has a very humanizing effect. Everything gets reduced to essentials. ~Meryl Streep

Subscribe to my feed or subscribe via email to get notified of my next post.