Today has been a very fun Saturday. I went to my Financial Peace Class this morning and learned all about investments. Some of the factoids that I learned are:
1. You should never buy something you don't understand~this includes investments. You should be able to explain it to a 7th grader.
2. An investment broker should have the heart and patience of a teacher. They should be able to help you understand what you are purchasing.
3. If you plan on taking the money out in less than 5 years it's called savings. Investments are long term commitments.
4. Your investments should get more than 6% annually to stay ahead of taxes and inflation.
5. The average investor makes a 7% return on single stock portfolio with a very high degree of risk.
6. 70% to 90% of all day traders LOSE $$$
7. True wealth is not built in a moment but over time.
After class, Patty and I went shopping! It's one of our favorite pastimes. We went to Staples to look for....yep...you guessed it....office supplies. Then there on the end of one of isles, was a display of lap desks (in case you don't know what a lap desk is...it's a hard top surface with a pillow underneath that you set on your lap to work on. This way you can work while you sit comfortably on the couch.) I've been wanting one of these for years. I often end up stealing Patty's to use. Now here was a hard black plastic surface with a bright blue soft pillow underneath that could be mine for the low bargain basement price of $9.99. I was so excited. Patty was even more excited since I wouldn't have to borrow hers. Thus I purchased and brought home Bernie~the long awaited for lap desk. He is supporting my computer as I type. "This is the beginning of a beautiful friendship............"
2 comments:
Well, this could be fun! “Bernie,” I'm assuming, has some significance.
On another note....when are we going to have another party at Uncle Al’s? Just a thought...
Bernie has no significance whatsoever. It's just a Bernie.
Uncle Al's would be fun...when?
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