WE ALL FEAR BECOMING A BAG LADY...

I have the fear of becoming a bag lady. I have actually said those exact words to family and friends. I remember when I said it to my dad shortly after college, he just smiled, kissed me on the forehead and promised to always take care of me (he also promised to start charging me rent should I decide to stick around the house much longer). I don't know where this fear comes from, but image my suprise when I read that apparently I am not alone. A 2006 study found that many women, including 50% of those who make over $100,000 per year, have the same fear!

The Allianz Women, Money, and Power Study

Over the past several decades, women have shattered barriers in politics, the workforce, and family roles. However, the picture is far more mixed in the financial world. Women represent half of all stock-market investors, control 48% of estates worth more than $5 million, and by 2010 women will control 60% of the wealth in the United States. In 2003, almost two million women earned over $100,000, a four-fold increase in just a decade. No longer playing the role of secondary earner, 60% of women with business degrees and 75% of executive women working for Fortune 500 companies out-earn their husbands. Yet, at the same time, poverty rates among women remain far higher than men among all age groups. Despite great strides in almost every other arena, finance and investments have remained largely a male domain.

In fact, money and investing is in many ways the last—and perhaps the most important—frontier in gender equality. In the largest-ever study of women and money, Allianz Life Insurance Company engaged Age Wave in 2006 to design a landmark research initiative, The Allianz Women, Money, and Power Study, to better understand women’s relationship with money and investing. The study included a survey of over 3,000 women and men conducted by Harris Interactive. Some key findings:

- The security and freedom money brings is 15-20 times more important to women than the status and respect it affords.

- Only 10% of women say they feel extremely financially secure, and half say they fear losing everything they have and becoming a “bag lady” living on the streets.

- Money is almost twenty times more likely than sex to be the biggest source of conflict in their marriages.

- One in five women report having a "secret stash" of savings their husbands don’t know about.

READ MORE ABOUT THIS STUDY AT:

http://www.agewave.com/research/landmark_womanMoneyPower.php

http://www.allianzlife.com/MediaCenter/PressAllianzStudy.aspx

ESTATE PLANNING ISN'T JUST FOR THE CARRINGTONS....

Well, I went to the retirement seminar. I didn't really feel like the youngest, but I did feel full because they had good yogurt and muffins...for free. It was eductational and I am very glad I went. I have decided part of being a grown up is knowing who will give you money and help you plan for your retirement.

The last speaker at the seminar spoke about Estate Planning. This was all new information to me, and added another page to the list of things I need to get done ASAP. I have worked hard and have accumulated a small estate, I need a plan for it. Following is some information I found helpful.

from CNNMoney.com

Top things to know

1. No matter your net worth, it's important to have a basic estate plan in place.

Such a plan ensures that your family and financial goals are met after you die.

2. An estate plan has several elements.

They include: a will; assignment of power of attorney; and a living will or healthcare proxy (medical power of attorney). For some people, a trust may also make sense. When putting together a plan, you must be mindful of both federal and state laws governing estates.

3. Taking inventory of your assets is a good place to start.

Your assets include your investments, retirement savings, insurance policies, and real estate or business interests. Ask yourself three questions: Whom do you want to inherit your assets? Whom do you want handling your financial affairs if you're ever incapacitated? Whom do you want making medical decisions for you if you become unable to make them for yourself?

4. Everybody needs a will.

A will tells the world exactly where you want your assets distributed when you die. It's also the best place to name guardians for your children. Dying without a will - also known as dying "intestate" - can be costly to your heirs and leaves you no say over who gets your assets. Even if you have a trust, you still need a will to take care of any holdings outside of that trust when you die.

5. Trusts aren't just for the wealthy.

Trusts are legal mechanisms that let you put conditions on how and when your assets will be distributed upon your death. They also allow you to reduce your estate and gift taxes and to distribute assets to your heirs without the cost, delay, and publicity of probate court, which administers wills. Some also offer greater protection of your assets from creditors and lawsuits.

6. Discussing your estate plans with your heirs may prevent disputes or confusion.

Inheritance can be a loaded issue. By being clear about your intentions, you help dispel potential conflicts after you're gone.

7. The federal estate tax exemption - the amount you may leave to heirs free of federal tax - has been rising gradually and will hit $3.5 million in 2009.

Meanwhile, the top estate tax rate is coming down. The estate tax is scheduled to phase out completely by 2010, but only for a year. Unless Congress passes new laws between now and then, the tax will be reinstated in 2011 and you will only be allowed to leave your heirs $1 million tax-free at that time.

8. You may leave an unlimited amount of money to your spouse tax-free, but this isn't always the best tactic.

By leaving all your assets to your spouse, you don't use your estate tax exemption and instead increase your surviving spouse's taxable estate. That means your children are likely to pay more in estate taxes if your spouse leaves them the money when he or she dies. Plus, it defers the tough decisions about the distribution of your assets until your spouse's death.

9. There are two easy ways to give gifts tax-free and reduce your estate.

You may give up to $12,000 a year to an individual (or $24,000 if you're married and giving the gift with your spouse). You may also pay an unlimited amount of medical and education bills for someone if you pay the expenses directly to the institutions where they were incurred.

10. There are ways to give charitable gifts that keep on giving.

If you donate to a charitable gift fund or community foundation, your investment grows tax-free and you can select the charities to which contributions are given both before and after you die.

VARIABLE ANNUITIES, BUELLER....BEULLER

This is too good. Tonight as I was doing my get rich homework, I went to YouTube to see what good retirement videos there might be (sometimes I get bored of reading...) Look what I found! Ben Stein. What hasn't he done in this lifetime???? Here are a few points from his Bio...

- Graduated from Columbia University in 1966 with honors in economics
- Graduated from Yale Law School in 1970 as valedictorian of his class by election of his classmates
- Helped to found the Journal of Law and Social Policy while at Yale
- Worked as a poverty lawyer in New Haven and Washington, D.C.
- Trial lawyer in the field of trade regulation at the Federal Trade Commission in Washington, D.C.
- He has written and published sixteen books, seven novels, largely about life in Los Angeles, and nine nonfiction books, about finance and about ethical and social issue in finance, and also about the political and social content of mass culture.

It goes on. He also apprently did some videos for the NRPC, National Retirement Planning Coalition. WARNING!!!! Of all of Ben's many talents, getting the message across without making his audience want to end it all RIGHT NOW, is not one. But there is interesting information here....



Interesting Eh? Now that you have learned something new (including the fate of Ben's parents), check of the video that Ben is more famous for....and also makes me feel nostalgic.



Learning is fun!!!

I learned more about VARIALBE ANNUITIES at:
http://www.sec.gov/investor/pubs/varannty.htm

I leanred more about BEN STEIN at:
http://www.benstein.com/bio.html

FREE MONEY...

I am going to a Retirement Seminar on Sunday hosted by my union. I hope to be the youngest person in the room. My ego could use it, and I might be able to win the race to the best seat in the room. I am a little excited and a little nervous. I worked for many many years as a freelance film worker in Utah. Because Utah is a "right to work state," the film workers are not required to be part of a union to work on a show. This is good because....you get to work, but bad because you don't get ANY benefits. When I moved to LA I joined a union and now get all the good stuff (health insurance, pension plan, vacation pay). I am very interested to see how it works. Working freelance I took for granted the added bonuses of benefits packages! I have no idea how much I have earned in Pension funds during the last three years, if any. When planning for retirement, it's probably a good idea to understand the plan your employer has set up for you. Duh. Free money... count me in! One more step toward my year long goal.

DOING MY HOMEWORK...

So tonight I spent over an hour checking out online retirement calculators. It was a little confusing but I think I got the jist of it after having filled out four or five of them. The one I liked the most was on Bloomberg.com, I have included the link to the right. This calculator was pretty simple and gives a very general idea of what your retirement could look like. Basically you want to know:

- How much you make now
- What percent you think your income will increase yearly until retirement.
- What percent of those earnings you will put into retirement
- How much you have invested for retirement (IRA's, 401 K's, Pension Plans, etc)
- What is your expected yearly return on those investments before and after retirement
- What are your anticipated expenses during retirement

The nifty thing is it gave me a cash flow report to use as a guideline as I try to reach my savings and investment goals each year. Although I feel this is a good place to start, I will do more investigating and get a few professional opinions.

I am about 25% of the way toward FEELING GREAT about my retirement plan...

TELLING THE TRUTH ABOUT WOMEN AND RETIREMENT...

DON'T GET SCARED, JUST PROACTIVE! The following article is from smartmoney.com

Women and Men in Retirement: The Facts

Life expectancy at 65
Men: 17.1 years (live until 82.1) Women: 20 years (live until 85)

Population 65 and older living alone
Men: 18% Women: 38.3%

Population 85 and older living alone
Men: 29% Women: 57.4%

Median number of years spent in the work force (for workers retired in 2000)
Men: 44 Women: 32

Average Social Security monthly benefit when started at 62
Men: $1,082.94 Women: $745.35

Average Social Security monthly benefit when started at 65
Men: $1,225.73 Women: $852.49

Population 65 and older living below poverty line
Men: 7% Women: 12%

Sources: US Census (2005 American Community Survey); Social Security Administration; National Center for Health Statistics.

FIRST, THE GOOD NEWS: Today's women are just as educated as men — and they're nearly as likely to be working.

In 2005, 25.6 million women age 25 and older held bachelor's, professional or doctorate degrees, compared with 25.8 million men, according to the U.S. Census Bureau. Just over 62 million women were actively employed, alongside 73.2 million men. And in 2006, 41% of all privately-owned U.S. firms — roughly 10.4 million companies, according to the Center for Women's Business Research — were at least half-owned by women.

Behind these numbers, however, is a disturbing disparity: When it comes to retirement planning, women lag significantly behind. "Women often underestimate how much money they'll need in retirement," says Ginita Wall, a certified financial planner (CFP) and co-founder of the Women's Institute for Financial Education, or wife.org. "They either think they'll cut their expenses or they'll live off Social Security."

But the fact is, a comfortable retirement is a breathtakingly expensive endeavor. Financial planners suggest that one should shoot for an annual retirement income that's roughly 80% of your preretirement income. Translation? Everyone needs to save — a lot. But women — who tend to live five years longer than men — should actually be saving more than men.

And sadly, they aren't. In its 2006 Retirement Confidence Survey, the Employee Benefit Research Institute (EBRI) found that the majority of women (37%) believe they need under $250,000 for retirement, while the largest group of men (25%) believed they needed anywhere from $500,000 to $1 million. Additionally, nearly half of the surveyed women (43%) said they had less than $10,000 in savings, which included retirement accounts such as IRAs and 401(k)s, as compared with 37% of men.

Retirement planning strategies aren't necessarily different for women than they are for men. But it's particularly important that women take the goal of saving for retirement seriously. Here are three rules to live by.

Start Early
Women still earn less than men. In 2005 a female full-time worker earned 77 cents for each dollar earned by a man, according to the Women's Institute for a Secure Retirement, or Wiser. That amounts to $445,000 less in earned income over a woman's lifetime.

How to fight back? Start young. Consider this: If you start saving $5,000 a year when you're 25 years old, by the time you turn 65 you will have a comfy $1.3 million to live off. But if you start 20 years later, at age 45, you will have less than $230,000. (That's assuming an 8% annual return. For a more detailed account, crunch your numbers in our 401(k) Planner.)

Create Your Own Benefits Plan
Women are more likely than men to cut back on their hours of employment to meet family needs. A quarter of working women worked part-time in 2006, compared with about 11% of working men, according to the U.S. Bureau of Labor Statistics.

"Women typically take time out of their careers to raise a family, and they often take lesser-paying jobs in order to have more flexible hours," says Wife.org's Wall. "So a doctor may, rather than have a private practice, end up working in a clinic so she can pick up her kids at 5:30 every night."

Women are also more likely to work for themselves. Female-run businesses are popping up at nearly twice the rate of those helmed by men or a man and a woman together, according to the Center for Women's Business Research.

The net result is that women are less likely to have an employer-sponsored retirement plan, such as a 401(k). In that case, a traditional IRA can provide an upfront tax benefit — you can make an up to $4,000 tax-deductible contribution for tax years 2006 and 2007 ($5,000 for those 50 or older), while a Roth IRA allows you to withdraw retirement funds tax-free (but contributions are made with after-tax dollars).

Small-business owners, in the meantime, should consider opening a SEP IRA, which allows you to contribute up to 20% of self-employment income, up to $45,000 a year. For more retirement options for small businesses, read our story.

And what about stay-at-home moms? Women who don't work outside the home can set up a Spousal IRA.

Stay on Top of the Family Finances
Many women still let their husbands handle the family finances. Should that marriage end in divorce — or should the wife become widowed, that can be a disaster. "At Wife.org we have a saying, 'A man is not a financial plan'," says Wall.

It's an all-too-common situation that leaves many widows and divorcees on the path to bankruptcy: a problem that Muriel Siebert, founder of the Women's Financial Network at Siebert and the first woman to own a seat on the New York Stock Exchange, would like to see change. "You've got women today that are going to be left a big responsibility and they don't know the numbers," she says. "It's not that they're stupid, it's that they've never had to do these things."

To protect yourself, make sure you're involved with investment decisions, stay on top of your debt obligations and make sure you have enough insurance coverage. For advice on how to protect yourself in the event of a divorce, read our story.

What if your husband doesn't like to talk about these things? "Ask the questions and if it doesn't get answered the first time, find another way to ask it," says Stephanie Sherman, a financial planner with Prudential Financial. "Too often women say, 'Oh, my husband said it'll be fine.' That's not always the case."

ONE THING, FEEL GREAT...

This was more difficult than I thought. What is the ONE THING that has to happen for me to FEEL I’ve made GREAT financial progress. One thing, feel great….One thing, feel great… It comes to me that it would feel GREAT to know what my ultimate financial goal is. By this I mean a RETIREMENT PLAN, a SECURITY PLAN. In my list of 10 things that bring me the most joy, I can imagine that each one would be just that much sweeter knowing that I will be able to enjoy them now, AND later. I admit I am a little nervous to face the truth; (there’s that phrase again “all financial progress begins by telling the truth”) because I...... have been procrastinating. I have many of what I feel are legitimate excuses (working 12+ hours a day for 19 years, not knowing the best way to go about it, fill in your excuse here, I am sure I have used it…). But the fact still remains that the 100 page term paper is due next week, and I just wrote the first paragraph. Not to worry; as this has been a consistent theme in my life, I am good at cramming.

I am going to start with the RETIREMENT PLANNING page on SUZE ORMAN’S website (see the link to the right under “websites to check out”). She’s a girl who got rich, and her hair looks just like my moms, I think I can trust her to tell me exactly how to get it done.

IT ALL STARTS IN MY BRAIN…?

It has been over a week now of just getting used to the commitment I have made to myself to get rich and share the wealth. Rather than let myself get overwhelmed with all I have to learn, I have decided to inhale a deep yoga breath and let out my gotta-get-it-all-done-and-it-has-to-be-just-right-right-now anxiety. Huhhhhhhhh.

Further investigation into my book collection indicates that the first place to start towards financial progress is really in my own brain. Who knew my feelings have so much to do with my financial situation? I guess it’s kind of obvious, more about that later. I like David Bach’s suggestion on where to start. He recommends considering the following question:

“OVER THE NEXT YEAR, WHAT ONE THING WOULD HAVE TO HAPPEN FOR YOU TO FEEL YOU’VE MADE GREAT FINANCIAL PROGRESS?”

I am supposed to make this as specific and measurable as I can. I should write it out and explain to myself WHY it is so important to me and HOW I will feel when I’ve accomplished it. I should write it in the past tense, as if I have already achieved it.

I’m up to the challenge. Anybody else? I am traveling to see my family for the Labor Day weekend and I will think on it with a full report on Monday. I am going to make my sisters do it too…..In the meantime, check out some of the links I have added to the right.

Something is wrong with the Polling feature. Click on "comment" just below this entry and vote there until blogspot gets it fixed. : )

TRUTH, CONFESSIONS and PLEA BARGAINING…

I just counted how many books about personal finance and investing I have on my bookshelf. 12. This does not include the books on starting a business, marketing and real estate. I pull “THE FINISH RICH WORKBOOK” by David Bach off the shelf. I remember now why I bought this book. On the cover is a beautiful woman with a beautiful body floating on beautiful blue water in a luxurious white raft with a beautiful tan man (in a speedo). Who wouldn’t want that life? Plus, it is offering to help me create “a personalized plan for a richer life”. Beautiful.

Flipping open the first few pages I come to this:

“ALL FINANCIAL PROGRESS BEGINS BY TELLING THE TRUTH.”

Taking a look around my place and having lived in this brain for long enough, I know what is true about me. I LOVE TO START PROJECTS I DON’T FINISH. This is evidenced by the large basket of filing I need to do, a bag of returns to Nordie’s from a month ago, and a bookcase full of half read books. When I lose interest in what I am doing, or never found it that fun or interesting to start with, I move on to something else. Not only have I told the truth, but I have confessed it to you. Next suggestion:

“the most powerful and effective way of changing your life is (1) to figure out what it is you want, (2) to write it down, and (3) to take action to bring it about.” LEARN IT, WRITE IT, LIVE IT.

Hey, I am on my way! I know what IT is (see BEING RICH DEFINED), I am learning it, I am writing about it, and now I JUST have to live it. I also have something powerful to push me if I start to lose steam, I have told someone I am going to do it. I know at least my mom, dad, two sisters, two brothers, two of my friends and my uncle are reading this and now I feel accountable. It would be even better if one of the GIRLS in my life would go through this process with me. Who is it going to be? Who wants to get rich with me? I would like a push/pull partner. I promise I won’t be too bossy. : )

TELL IT SUZE.....

We are making more money than ever before, but we are clueless about what to do with it? Wow. Is that me? Or my girlfriends or sisters? It might be. This can be fixed. Am I clueless? I do ask myself that question on a somewhat regular basis, but that has nothing to do with money... I don't think I am clueless, I think I have been guilty of something even worse. Lack of focus. Notice the use of past tense. I week ago I decided to focus, hence these words before you. I think I have a book of Suze's on a shelf somewhere...

COMBINING MY INTERESTS, WITH COMPOUND INTEREST...

One of my greatest joys in life, making me very rich indeed, are my 15 nieces and nephews. Tonight I was talking with my sister about the 3rd annual “Auntie Eve’s Birthday Party” I am throwing this weekend. This is an afternoon in which we celebrate ALL their birthdays ALL at once (I can no longer keep up with them individually!). This is very convenient for me as I try to maintain my status as Favorite Auntie, and they don’t care because they are ALL under 10, and there’s cake. Because I don’t have kids of my own, my instinctual desire to nurture and nudge little ones along leads to grandiose plans to teach with the gifts I give. When I actually get down to it, it usually ends up as a magazine subscription to National Geographic Kids or something of the sort…but I digress. This year I am going to make a contribution to their saving accounts and teach then the fabulous lesson of THE JOYS OF COMPOUND INTEREST. This is defiantly a viable path on the road to riches, and I wish I had internalized it at their age and not somewhere in my early thirties. Check out the COMPOUND INTEREST CALULATOR I have added to the right. If I start them out with $25, and they add $100 per year until they are 18 (in the case of my two 7yr old nieces,) at 5% interest and no bank fees, they will have $1,534.47. This will seem like 1 million dollars to them, and hopefully plant a financial awareness seed in their fertile young brains that will someday grow into a giant oak of living rich. (I warned you I get grandiose). At the very least it might incent them for a few days to ask mom and dad how they can help around the house for some cash, and provide me and their grandparents an easy and productive way to give them future gifts. Win/Win.

To find the best interest rates in your city, check out this link:

http://www.bankrate.com/brm/news/news_checking_home.asp

THE SUBPRIME BLAH BLAH...HUH?

I have had a few "Joey" moments lately with my co-workers. For those who have not watched enough re-runs of "Friends," let me explain. This is a situation in which your friends are having a discussion regarding something that you are completely clueless about, while they seem to know everything and are able to discuss it articulately. My best attempt to camouflage my ignorance is to look concerned and nod my head like I know exactly what they mean, or act distracted by something else (magazine, something stuck to the bottom of my shoe). One such recent occurrence involved the SUBPRIME MORTGAGE CRISES. What is it? What does it mean? How does it affect me and my plans to get rich? I had to know so I did some research. Here is what I found:

The ‘US Subprime Lending Problem’ — explained in simple terms
from Pinoymoneytalk.com

Global stock markets are down, investors are on selling mode, and almost all of 2007's stock gains have been wiped out. The culprit, analysts say, is the current US subprime lending problem.
The subprime — what? And if it's supposed to be a problem in the US, why is it affecting markets in Europe and Asia?

What are Subprime Loans or Subprime Mortgages? These are loans or mortgages made to homeowners with poor credit ratings. Loans made to these people are of considerable risk because these borrowers are more likely to default on their loans since they already had financial problems before taking on the loan.

After a subprime loan is issued to homeowners, issuing banks usually sell these loans to investors. To compensate for the high risk, subprime loans typically pay higher yields. Attracted by the higher yields, a number of mutual funds and hedge funds in the US invest in these loans.

What is the current Subprime Lending Crisis? Beginning in late 2006, many subprime mortgages have become delinquent as homeowners run into financial difficulty. More than two dozen subprime mortgage lenders have already failed or filed for bankruptcy due to rising incidents of subprime foreclosures.

How is this affecting the markets? A number of hedge fund companies and investment banks that invested in subprime loans incurred millions of losses or even went bankrupt due to the subprime lending problem. The possibility of tightening credit conditions also caused volatility and panic in the US stock market, which consequently sent fears to European and Asian markets that the US, one of their major trading partners, is on the verge of an economic recession. These fears and uncertainties are responsible for driving world stock markets to their recent lows.

ALSO, CHECK OUT THESE LINKS TO OTHER EXPLAINATIONS:

http://www.businessweek.com/investor/content/mar2007/pi20070313_837773.htm

http://en.wikipedia.org/wiki/Subprime_meltdown

https://www.oppenheimerfunds.com/targetedCopy/InvestorPages/investorTimelyTopics/invArticles_08-10-07-153925.jhtml

MONEY GIRL PODCASTS...

Look what I found on iTunes. It's a podcast called Money Girl, Quick and Dirty tips for a Richer Life. Perfect. I discovered Money Girl a few months ago and look forward to each new installment. Money Girl covers all different topics from making financial goals and improving your credit score, to leveraging investments. She is very perky and gives clear and easy to understand tips. I have included a link to the site where the podcasts are available for download, or you can just read the script. For me, podcasts are a great distraction while doing my cardio, with the added benefit of learning how to get rich. Two birds, one stone.

My favorite tip so far is about SELF DIRECTED IRA'S... from the podcast entitled "Investing With A Self-Directed IRA." I learned that with such an IRA you can invest in just about any kind of Asset. The only types of assets you cannot invest in are: Collectibles (for example, art, antiques, jewelry, or coins other than U.S. gold coins), Life insurance and S corporations. We are not limited to stock, bonds, and mutual funds! Being a girl who is all about options, I decided to use my Roth IRA funds to buy ownership in a Limited Liability Company that is developing and selling office condominiums. There are many benefits to a Roth IRA, one of which is you never have to pay CAPITAL GAINS taxes on the earnings you make within your IRA. Tax Free Money! Yeah! I had to do some research to find an IRA CUSTODIAN who would hold real estate as an asset (a "Non-Standard Asset). With these Custodians there are fees involved, whereas other traditional Custodians (Banks, Brokerage Companies) will hold your investment portfolios for free (ie TD Ameritrade). I looked into several companies and decided to go with Pensco Trust. Each time I called I was able to speak with someone immediately, and their rate schedule is reasonable and competitive with the other companies I checked out.

If you want to learn more about SELF DIRECTED IRA'S, check out their website: http://www.penscotrust.com/.

ONE ROAD TO RICHES...

I decided about a year and a half ago to join a women's investment club. I figured it would force me to learn more about investing and I would get to make new friends (yeah). I have a stack of books at home all involving investing, of which I have read and implimented not a one! I am better at getting stuff done when I am accountable to someone else, plus it's more fun.

My friend Bonnie introduced me to the club I joined. The MONI CLUB was formed more than 10 years ago out of a book club. They were reading a book about the Beardstown Ladies who were famous for their investment savvy. They decided to spend their time teaching each other about investing instead.

We are now 12 girls who meet every 2nd Saturday of the month. We eat danish, gossip a little and talk about the stocks in our portfolio. We pay monthly dues of $75 each which creates the fund we use to buy stocks. The first year I spent just listening to what the girls were talking about, trying to make sense of it. I didn't put a lot into it, and I didn't get alot out. This past January I volunteered to be the Financial Partner (the one who takes care of the accounting for the club) and since have become inspired to learn more and participate actively in helping our group meet our goals.

The great thing about investment clubs is that you have access to people with different interests, jobs and life experiences from your own. The first thing any investment book will tell you is INVEST IN WHAT YOU KNOW. Now you have the power of what you AND everyone else knows to broaden your investment options. Plus it gets you out of the house, and did I mention DANISH?

Our club belongs to a larger investment community called BETTER INVESTING, the governing body for investment clubs all over the country. I have added a link to the site if you want to check it out.

BEING RICH DEFINED...

While I am working out the HOW to get there, I am a little clearer on what it WILL look like when I get there, this place called "rich." In all my reading of motivational, entrepreneurial, and personal development books I have become pretty good at the first step they all suggest as a starting point...HAVE A VISION. Without getting too kumbaya about it, MY IDEA OF BEING RICH IS HAVING ENOUGH FREEDOM TO DO WITH MY LIFE WHAT BRINGS ME THE MOST JOY.

Top Ten Things that bring me JOY:

1. Being able to live with myself and my decisions
2. My Family
3. My Friends
4. My Health
5. Service to others
6. Interesting and Challenging Work
7. Learning new things
8. Having new experiences
9. Getting enough sleep
10. Shopping

I am not going to lie, I do like to shop. I like shoes, clothes, books and Crate & Barrel. Very much. I am mostly a DO girl, but partly a HAVE girl and I'm ok with that.

What is your definition of rich?

HERE I GO...

I am going to get rich. I am not entirely sure how. I have a few ideas, a few books, I have watched all the episodes of Oprah where other people just like me have done it. I am going to do it and I am going to tell all about it here, just in case anyone else wants to learn how to get rich too.

They say write what you know, and if there is one thing I know, it's how to be a girl. So although boys are invited, encouraged, and loved, this one is for the ladies.