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Essentially it is "survival" money. But the story gets worse, much worse... This couple spent ALL that money in just seven weeks! At the end of the three months they would have accumulated another $10,500 to play with (less tax, of course). So many stories abound like this - people with no financial skills suddenly find themselves in possession of a large inheritance or a lottery win and zap! Article: I read with spectacle a story in my local newspaper this morning. It concerned a couple in their early 30's from Perth, Western Australia who won AUD $793,151.87. Their lotto dream was realized just two years ago. Lucky people huh? OK. Nothing too awesome with regard to that - so far. Reading on I was shocked to learn that this story is news now because, despite their massive windfall, this couple had never stopped taking away social security benefits. Greedy huh? That welfare money is meant to be on call to disadvantaged people who are in financial difficulty. Essentially it is "survival" money. But the story gets worse, much worse... This couple spent ALL that money in just seven weeks! Gone. Vanished. Seven weeks! It hardly seems possible. So, what does that tell you? The first thing that struck me was how utterly irresponsible this pair was. How do you spend $113,307.41 each week for seven weeks? I have great difficulty comprehending that. What if this pair had spent just the $93,151.87 having "fun" and put the $700,000 into an interest style term deposit for three months at 6.00% interest while they got some decent financial advice? At the end of the three months they would have knotted else $10,500 to play with (less tax, of course). So many stories crawl with like this - people with no financial skills suddenly find themselves in possession of a large inheritance or a lottery win and zap! Just like these two, it is gone. How would you have handled it? For anybody wanting to learn underlying financial skills "The Richest Man in Babylon" by George S Clason is a great start. Had these people in a pickle to read such a book then they would still have a significant peg of that money left. Maybe they would have even more. As it is they have nothing to show for it and there is a strong possibility of either gaol or massive fines for defrauding the Government. It pays to educate yourself. This special comes with reprint rights providing no changes are made and the resource box short of accompanies it. BioDiesel Made Easy. - All you need to know about biodiesel, where to buy, how to make it and where to get more information. Witchcraft Exposed! - Powerful Spells about Love, Luck, Wealth, Money, Protection, etc. Guaranteed Results from the European Wizards. Great Affiliate. Article Index: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 |
More Articles:1. The Arrow-Debreu Contingent Claims Model of Investment By Dr. Michael A. S. Guth Summary: Concerning information needed by market participants in the prior trading round(s) of the securities version of the Arrow-Debreu model, Radner observedAlthough the second part of the price system might be interpreted as spot prices, it would be a mistake to think of the determination of the equilibrium values of these prices as being deferred in real time to the dates to which they refer. `Compared to Lindahl prices, these `personal pr… 2. 5 Common Misuse of P/E Ratio By Hari Wibowo Summary: Price Earning (P/E) Ratio is the most widely used ratio in investing. Company A with a P/E ratio of 15 and 0% earning growth may not look as appealing as company B with a P/E ratio of 20 and 25% earning growth. The reason is if both stock prices remain the same, after 3 years, P/E ratio of company B will decrease to 10.3 while A will still have a P/E ratio of 15. If interest rate rises to 6%, then stocks that are trading at P/E of 20 wi… 3. Get Wealthy With the Rule of 72 By Vincent Moloney MD Summary: When it comes time to retire how many people would like to have a nest egg that is 2 or 3 or even 4 times larger than what they have? Over the last 100 years or so the United States stock market has returned 10 to 11% per year on average, depending whose figures one reads. Observe that during the first 7-year period you accumulated $13,000, during the 2nd 7-year period $27,000, during the 3rd 7-year period $43,000 and during the 4th per… 4. The Strangest Investment Strategy Ever Created By Thomas Mullooly Summary: The bullish percent indicator is merely the PERCENTAGE of stocks in a group that are on point & figure buy signals.When the bullish percent for a group of stocks is high, that means most of the stocks in that group are already on buy signals. There are only a few stocks left in the group that could generate new buy signals'only a few names left that could continue propelling that group higher.Another way of explaining a very high bullish… |