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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. Gold; What Type of Gold to Buy By Richard Amburn Summary: JewelryThe advantages are:' Gold Jewelry is the easiest of the gold to buy and has the enjoyment of being able to be worn.The disadvantages are:' Retail Jewelry is often marked up by 300% or more in the shops.' The real value of Jewelry is in the stones and the value is higher then of the gold.' Most gold jewelry pieces are different and their values are biased.Bullion coins and Small BarsAdvantages:' Gold coins and small bars are con… 2. SPX (S&P 500) Intermediate-Term Trend Indicator By Arthur Eckart Summary: So, if the ratio rises above 100, caution may be required intermediate-term.Economic reports next week are: Mon: Existing Home Sales, Tue: New Home Sales, and Consumer Confidence, Wed: Durable Goods Orders, Thu: Unemployment Claims, Final GDP, and Final GDP Price Deflator, Fri: Personal Income, Personal Spending, Revised Michigan Consumer Sentiment, and Chicago PMI. Notable earnings next week are: Mon: WAG, Tue None, Wed: RIMM RHAT KMG, … 3. The 8 Biggest Mistakes When Designing Portfolios - and How To Avoid Them By Scott Frush Summary: Discover some of his investment secrets in the free report, 15 Golden Rules for Building Optimal Portfolios, available at www.AssetAllocationExpert.com.Here Scott Frush shares eight common, yet costly, mistakes investors make when designing their investment portfolios and reveals how to avoid them.1. Properly allocate your portfolio among the different asset classes first and then diversify the investments within each asset class.By avoi… 4. 5 Ways To Protect Your Bond Portfolio From Rising Interest Rates By David Twibell Summary: This could be just the tip of the iceberg, though, as many experts believe rising inflation and a strengthening economy will spur continued rate hikes for the foreseeable future.This is bad news for bond investors, since bonds lose value as interest rates rise. So, as rates rise and new bonds with higher coupon rates become available, investors are willing to pay less for existing bonds with lower coupon rates.So what can you do to pro… |