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08-06-2014, 05:23 PM
(08-06-2014, 05:00 PM)opmi Wrote:Completely agreed.(08-06-2014, 03:52 PM)Temperament Wrote:(08-06-2014, 03:46 PM)GPD Wrote: Rubbish! She is not uneducated and to think that she is trained in accounting. The kind of money she had, most people don't even get near in their whole life. I hope her children grow up with the right thinking.
I agree RUBBISH! Who says uneducated or lowly educated (NTC 2 only - me) can't have a business mind? If you have you will slowly educate yourself. What books are for?
VBs here should educate their wives and their children on financial literacy. No point leaving a huge fortune to be squander away in X years.
And don't be 'geow' to your wife and children, hoping they will learn thrift. After you passed away, they will have a party. See the life of Hetty Green.
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In fact while we are still around we should let our children handle quite a "large" sum of money to invest in the market. And not suddenly your children come into even much larger sum of money when you are not around. They may be shocked by the amount of money/assets and in their moment of grief is the worse time to handle finance.
And if they show they can not handle investments, then you can have different plans for them.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.