26 July 2008

Best Financial Advice They Ever Got

Great minds share the best money lessons they ever learned.

I'm not sure they're all great minds (c'mon, Derek Jeter?) but there's some good stuff. I like Robert Schiller's.

I think the best advice I got was to start investing when I was still in college. When you're young you can afford to learn from mistakes. As you get older you have more obligations and more to lose so it's a bad time to start.

And don't get credit card debt. That will kill you. I had a neighbor who took several years to get out of debt. One day she came home from work ecstatic that she was finally out of debt. She wanted to celebrate so we went to Redfish. I orderd the chicken-fried steak and it was awful. Then I got the bread pudding, hoping that would turn things around. It did not.

Eventually I came to understand that Redfish was the southern restaurant for people who didn't want southern food.

4 comments:

Anonymous said...

Derek Jeter said..."The best financial advice I've received is that you should always know where your money is. Even if you have someone who handles your finances for you, you should always be involved in the process. I learned this from my parents."

So...was there a problem with the comment by Derek Jeter? Derek Jeter did not claim he was a great mind. He was asked a question as several others were by CNN and gave his advice. Was he supposed to tell the people who asked him to participate to "go screw themselves?" Are you telling us you think that you are a brighter person than Jeter? What the hell is this blog and post about?

Jeter seems to me to be a bright guy, a great player worth millions.
I know of no trouble he has had in his personal life or on the field.
What is the point of your comment about Jeter? Is this more liberal jealousy? Those who have too much money should share with those who are losers? You may get your wish if B. Hussein Obama becomes the next President.

Wes said...

Well, where did that come from?

And anonymous, no less. How...unsurprising.

WF

Mark said...

Must troll internet. Defend Jeter against godless commies. Maybe then he'll kiss me.

WestEnder said...

Ha! Hilarious... nice to see mental institutions are now granting internet privileges. I support that.