Monday, May 7, 2012

Smart Financial Advice

Great financial advice from Harry Gross:
Through many years of teaching, writing and lecturing, I have come across or invented many aphorisms that apply to financial situations. Here’s an abbreviated list. Enjoy.
  • The only way to get ahead financially is to live beneath your means.
  • If it sounds too good too be true, IT IS too good to be true.
  • Don’t put all your money in one basket, no matter how good the basket.
  • The man who passes on without life insurance does not die. He absconds.
  • Disability insurance is the most undersold product in the insurance industry.
  • Never use a credit card unless you can pay the balance in full during the grace period.
  • If the whole world goes to pot, gold will open doors.
  • Don’t give it all away during your lifetime.
  • When a parent gives money to a child, both smile. When a child gives money to a parent, both cry.
  • You cannot die without a will. If you don’t prepare one, the state does it for you.
  • Never name a child as trustee for your spouse.
  • Why does anyone need more than two credit cards?
  • Tax-protester seminars are good for only the presenter.
  • Watch out for the guy who has an ax to grind.
  • When acting as trustees, banks have their own agenda.
  • NEVER buy from someone you don’t know.
  • Never buy on the telephone unless you initiated the call.
  • There is no evidence that load funds perform better than no load funds.
  • Is he trying to sell you that because it’s good for him or good for you?
  • Leave a letter of instructions for your heirs.
  • The education of your children is the world’s best investment.
  • Don’t rust out; wear out.
  • Cities and authorities may go down the tubes, but nothing will happen to any state.
  • A flat income tax will only benefit the very rich
  • Renting is often a better option than buying a home.
  • Most market-timers perform poorly.
  • An oral agreement is not worth the paper it’s not written on.
  • Failure to return telephone calls is the most frequent complaint about lawyers.
  • Very often, people buy a school district, not a home.
  • The only person who can cheat you is a person you trust.

No comments: