Every week I find a few great articles I feel are especially valuable. Following are this week’s best. I hope you find them as useful as I did.
This week’s favorites include financial planning is not an emergency, the difference between rich and wealthy, shorting the dollar using real estate, why you should ignore the financial media, and the vaccine is not the enemy: COVID is the enemy.
Financial planning is something everyone should do. We often need help to get it accomplished, but it rarely needs to be done urgently. However, if you just lost your job, it could be an emergency. If you are in this acute situation please read The Doctors Guide to Navigating a Financial Crisis right away, before your emergency fund is depleted. But generally, a little guidance is all that is needed. Creative Money points this out with a nice article titled, Financial Planning is Not an Emergency. The reason to plan your finances is to be sure you get what you want out of life and your money. It is a freeing, not a restricting, experience. That is what my Total Financial Makeover program is all about.
I have always hated the sound of the word “rich.” It leaves a bad taste in my mouth that the word “wealthy” does not leave. The Millennial Money Woman gives us the reason why, with The Key Difference Between Rich and Wealthy. Once you understand the difference, you understand why I prefer to be wealth not rich. How about you? Do you want to be wealthy or rich? Does it matter?
I have always loved real estate as an investment. The Debt Free Doctor helps me understand why with the concept, Shorting the Dollar Using Real Estate. I never thought about real estate quite like this before, but it is a great hedge against inflation. I almost passed over this article because I don’t short anything in the stock market, where this term is usually used. I’m glad I stopped to read this article.
I have not been a fan of purchasing individual stocks for about 20 years now, ever since I proved to myself it was a losing game when my seven-year old son’s sample portfolio did better than mine. Now The White Coat Investor has proved it to us again with his article on Why You Should Ignore the Financial Media. If you want some ammo to help you avoid purchasing individual stocks, this article will leave you fully armed.
I have resisted saying anything about the vaccine issue, but the title of this article really caught my eye. The Vaccine is Not the Enemy: COVID is the Enemy. How did we ever get to the point where people are so afraid of something that has been proven to save lives? It sounds so much like the drivel we heard when seat belts were required. Or helmets were required. Thanks to KevinMD for leading me to this article.
I hope you enjoy these articles as much as I did. I look forward to updating you again next week with a few more articles I find especially interesting. If you read an especially good article, send me the link so I can share it with others.