Ken asks…
What is your number 1 life-experience as to get rich?
There are some golden rules you just don’t learn at school or home. You just learn them them by yourself as the result of you successes and failures as life goes by.
Sometimes they might be very different from what you were taught or what your family values are and you might feel it would have been very valuable to learn them sooner in your life.
So what is the most important one you have learnt so far?
Justin answers:
I’m not rich, at least not in a monetary sense, but there are many things that I have learned through my life experience:
1) Always be yourself
2) Always be truthful, even if it is putting you in a bad light
3) LISTEN..there is a time to talk, but mostly LISTEN
4) Ask questions and pay attention to the answers
5) ALWAYS be faithful to your employer
6) Work HARD and Success will eventually come to you
7) Keep your goals in mind and work towards them daily
8) Money is NOT the MOST important thing…..Family is….
9) You will change jobs, positions, or careers at least 6 times
10) Trust is earned not given….earn it….
These are my top 10…there are probably a hundred more that I can give you..
And of course there is always the the obvious….save your pennies and invest wisely….careful with your money and it will take care of itself….
Chris asks…
How should I invest my money?
I am 20 years old, with about 10,000 dollars saved in the bank. I know the golden rule for all investors is “the younger you are the bigger the risk you should take” since you have all the years ahead of you to make up for any losses, if any. I want to know how to make the most of my money instead of just letting it sit in the bank and let it go to waste. I was thinking of diversifying my money in the stock market but I don’t know enough about it to take that risk….
Justin answers:
While you are young and inexperienced, keep it simple. Open an IRA (Roth or Traditional) and invest in mutual funds. At your age, you will want a combination of US and international investments. You will want a combination of funds that have strong performance of the short-term (3 year) and long term (10 year). Stay away from the volatile sector funds (health care, gold, energy, Russia, China, etc) until you have more experience in the market. Those funds should never make up more than 10% of your holdings (but wait 10 year until you become more comfortable with the market).
My best advice for you is after you make a decision and invest your money, DON”T MOVE IT. The market will fluctuate up and down, just let your investments grow. Making adjustments once per year or once every 3 years is fine.
If you have any questions, feel free to email them to me.
Joseph asks…
I am in my early 20s. I know the financial sector is going to drop. Time to buy on the cheap?
I have at least 10-15 years before I would do any selling. More than likely it would be 30 to 40 years. Banks are looking cheap, USB is looking cheap but it seems to be okay overall. Should I buy since my time horizon is so long?
Justin answers:
Which area of the big wide world are you coming from and in what currency/ies are you investment Anthony.
If you are in the UK then Premium Bonds or a fully guaranteed bank like the Irish Banks (Govt Guarantee for 2yrs).
As for UBS – they went through a rough patch and could still be in one and I would not recommend a scandal bank for investment
As for ‘cheap’ and low prices, I just bought back an Aussie stock which I last sold for A$2.50 for A$0.455. At A$2 folk thought it was cheap and at A$1 they were talking of “must be at the bottom”.
If I were you and if you can be online during trading hours, check out the last 3mths charts and prices of your stock and invest only in see-saw prices stocks. Never invest in a downhill chart and never invest in an uphill chart after the horse has bolted. Also never think you are cleverer than the market dealers.
Good are small packets of penny stocks as folk tend to head that way in uncertain times. Gold stocks are particularly comeback stocks.
As for 10-15yrs holding of stocks, forget it. You have to remain awake and work for profits and not think nice names give nice pensions
Golden rules:
~~~~~~~~~~
1. Never panic and only enter dealing if you have cool nerves
2. ALWAYS throw out anything losing -15% or more
and otherwise
3. Never sell at a loss
Good luck, think globally and never ask the world a question which could apply to 28 countries or currencies.
$ is not a currency but a symbol used by 28 different currencies
Good luck matey
Paul asks…
My dog is going to be arriving home he is 1 what equipment etc do I need for him to settle in.?
My rescue dog is arriving home shortly and I want to have as much of the stuff I can there waiting for him so he isnt even more nervous with people constantly giving him new stuff when he arrives. I am doing a list but I am sure there are things I am missing!
Justin answers:
I will assume by your description of ‘dog’ rather than puppy, that it is an adult? If so, here is about what you’ll need:
1. A high-quality brand of dog food, I prefer Purina, because of the extensive tests and studies they did on their food to make sure it is healthiest for your pet.
2. A food bowl and water dish. I’d recommend an ‘automatic’ water dish, so you don’t have to refill it constantly.
3. Lots of toys. Different varieties of toys as well, so you can get a taste for what his favorites are. Try tug toys, plushies, squeaky toys, frisbees, tennis balls, kongs, toy tires, etc. Generally Retriever types (goldens, labs, setters, spaniels, etc) like tennis balls the best, Bull-breeds (pits, mastiffs, rottweilers, bulldogs,) often like tug toys, terriers (westies, scotties, jack russells) like anything they can shake, Toy dogs (chihuahuas, papillions, mini poodles, dachshunds) often like plushies best, and herding dogs (german shepherds, border collies, aussies, bouviers,) like a mix of toys as they get bored easily, but it depends on the individual temperament of your dog.
3. A crate. Your dog may not seem to like it at first, but trust me, it is necessary. Most dogs come to adore them, and think of it as a den of sorts. Make sure it is big enough that they can turn around and stand up in, but not so big that they could go to the bathroom in one end and sleep in the other. Try putting a nice, soft, comfortable blanket in there, and maybe a toy or two. A rule of thumb: If the bedding isn’t soft enough that you would sleep on it, it isn’t good enough for your dog, either.
4. Some nice dog beds in central areas of the house, like the living room or kitchen. The aforementioned rule of comfyness applies. Also, if you are getting any dog more then 100 pounds, you may want to ‘double up’ the dog beds (put one on top of the other) or invest in a memory foam dog bed. Overstock.com carries some nice ones for about 65 dollars.
5. A set of brushes for grooming is imperative. If you brush your dog for 10-15 minutes at a time, at least four days a week, the shedding around the house (and on your clothing) will be next to nothing.
6. A collar, leash, and ID tag with your name, your dog’s name, and your phone number on it. If your dog gets lost, having an ID tag ups your chances of finding your dog by 200%. It will be the best nine dollar investment you ever made.
7. Dog treats, my dogs prefer Canine-Carry outs, but it will depend on your dog’s tastes.
8. A good set of books on dog training, dog breeds, dog psychology, and obedience training. Knowing what to do before a problem arises will take down the stress of getting a new dog considerably.
9. Something to clean your dog’s teeth. I recommend greenies, but make sure that you take the bone away from him whenever you aren’t able to keep an eye on him, as any object like that can be a choking hazard if he decides to swallow it.
10. A bitter apple spray of some sort, in case you have a chewer. It is always best to have those on hand.
11. A nail clipper and some talcum powder just in case you accidentally get the quick. (The vein in a dog’s nails) Flour works in a pinch if talcum powder isn’t available.
12. Shampoo is another necessity, I’d recommend either a shampoo especially made for dogs, or a shampoo made for babies. Remember to avoid the dog’s eyes, and to dry off his ears completely afterwards to avoid an ear infection.
13. If you have a smaller dog that you plan to allow on the furniture, I’d recommend buying a ramp or a staircase made for dogs. It is too hard on their backs to jump everywhere.
14. A dog gate, in case there are areas of the house you’d like to keep him out of. A kitchen, office, or bathroom, for example.
15. Some good, pet friendly cleaning supplies. A high quality vacuum, a lint roller for dog hair, a swiffer wetjet, Clorox disinfecting wipes, febreze spray for pet odor, a stain remover, etc will help you keep your house looking great, and will give you something immediate to use if there is an accident of any kind. I can guarantee you, at one point or another your dog will throw up on your carpet or floor and you’ll need to get it up quickly and effectively.
16. A container for food to be in, so you don’t end up with the dog tipping over the bag or insects getting inside of it.
That is all I can think of for now, but remember to ‘dog proof’ your house before he gets there. That includes removing anything he might chew on or knock over that you’d rather him not, making sure electrical wires are inaccessible, that hazardous plants or cleaning supplies are locked securely in a cabinet, that the trashcan is put somewhere he can’t get to it, and that anything he may mistake as a toy (I.E. A pillow, a book, dvd, or a remote control) is put out of his reach. Also remember to make a vet appointment as quickly as you can to have him checked out, and get him started on heartworm medication ASAP.
Wow, this got really long. Sorry about that. :-p
Good luck, I hope this helps, and enjoy your new addition!
James asks…
Will Cream (Creme) Sofas look good with white blinds that drape down behind the sofas?
There is some creme-white combination in the kitchen as well. We have white roll up blinds on the side windows, olive green wall color and creme sofas. Will white blinds look too strange or add too much contrast or will that contrast look good? The bottom of our wall also has a white (rim?) to it.
Justin answers:
White and cream are both neutral and will therefore look good together. TYou can put a neutral with any color of the rainbow and it will look good. The only thing that might bother you is the fact that if the white is a very stark white and the cream leans more towards the yellow than the beige, you might get the impression that the cream is really just a dirty, aging yellowing white… There are however, a few things that can be done to change that illusion…
You shouldn’t white cushions on the sofa nor should you drape any white blankets or throw covers on it.
Remember that to have complete color harmony in a room, you need to have 3 colors. One dominant color, one medium color and one accent color. You only have two colors in your room because white is not a color but the absence of color. That is also why you can add white to any paint color to change not the color, but the hue. So you’ll need one more color. You have the green and the cream. What’s another color that you like? You can basically choose any color you like with what you have going on. Consider your green walls your dominant color, the cream the medium one and…. How about black? Or a touch of red (cushions, flowers, vase, etc.)… Or burnt orange… Eggplant purple…. Golden sunflower yellow? If it were my room, I’d use a warm color and somewhere in that warm color, I’d add a hint of the white from the blinds and the baseboard trim at the bottom of the walls… Like add some white flowers in a flower arrangement, have a hint (just a hint) of white in the cushions you place on the couch, a white vase, etc. Use 60-30-10 rule… Dominant color 60%, medium color 30% and accent color 10%… As I said, don’t count the white.
Oh… When choosing your colors, you might want to think about direction the room faces… North or south… Northern light is colder and so you may want to lean towards a warmer color on the color scale… Reds, oranges, pinks, purples, yellows, etc. If facing south, choose a cool color to keep your room cooler… Blues, some greens, pastels, etc.
I gather your roll down blinds are roman blinds… If you ever get fed up with the all white look and don’t want to invest too much, you can always stencil something really funky and nice onto the blinds… Using the same color scheme as the rest of the room.
As for your kitchen, especially if you can see it from the living room area, you’ll want to add some of the green from the living room and don’t forget your 3rd accent color too. Think towels, rug, cookie jar, flowers, baskets, etc. Using the same color scheme as the living room will create flow and make your living areas feel harmonius.
Happy decorating!
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