How to be Rich, Happy and Free from Scams

By Katie Little There is a fine line between miser and smart spender . As your accounts grow in size and decimal places, there are several key purchases that may increase your quality of life — and even save you some cash in the process! A range of experts shared advice for items that savvy investors should buy in order to climb the ladder and accumulate wealth while also increasing day-to-day enjoyment. Here are 10 thrifty ideas for smart ways to spend more without feeling guilty:  Hire Some Help  Time is money. If your hourly income is more than what you would pay for someone else to clean the house, walk the dog or mow the lawn, then hiring some help makes financial sense. Jennifer Litwin , an author and consumer reporter, added that grocery delivery can be a big-time saver. Litwin listed “avoiding the new long self-check-out lines; getting fruits and vegetables that are well-wrapped and packed; and shopping from the comfort of your own ho...

By TARA SIEGEL BERNARD JPMorgan Chase’s giant trading loss began as an effort to manage the bank’s risks — a move that turned into something that now looks more like a speculative bet. But don’t think this is solely a big-bank problem. Even small investors can run into trouble discerning the fine line between hedging and risk taking. Investors can try to limit their risks by holding down their stock exposure through diversified investments. But many people are still depending on the market’s engine — perhaps more than they might think — to maintain a comfortable lifestyle in retirement, say, or pay for their children’s college educations. While this strategy has worked for many people and is considered prudent by financial advisers, it’s still a wager. Your portfolio can take a painful nose dive just before you retire, which means you may have to work longer (if you can) or cut spending. But somewhere along the way, as pensions vanished and 401(k)’s took hold, inve...

By Claire Suddath A few years ago I attended a party that was broken up by the cops—and when it happened, I was sitting next to my boss. I’ve been invited to a boss’s wedding and gone to dinner with several more. Once, my boss’s boss invited a co-worker and me for drinks at a private social club to which he belonged because I mentioned that I’d always wanted to see it. (Actually, I think I said something like, “Take me to where all the rich people are!” and sent him an appointment reminder through Microsoft Outlook.) I’ve always gotten along with my bosses and have enjoyed hanging out with many of them outside the office. But not all friendships are created equally, and there’s a distinct line I’ve never felt comfortable enough to cross. There are work friends and after-work friends. There are friends with whom you’ll discuss your love life, friends you approach for favors, friends you drunk dial, and friends you’ll invite into your home even when you haven’t showered an...

http://www.conradalvinlim.com/2012/05/may-day-food-for-thought-1-may-2012/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+ConradAlvinLim+%28The+Pattern+Trader%29 INFLATION OR STIMULATION? Someone asked me why thoughtless lavish spending encourages inflation when it helps to stimulate the economy … In one small example, buying an apartment you can’t afford then defaulting on the downpayment means that your thoughtless spending just helped to raise the price of properties unrealistically and returning the apartment doesn’t bring the price down. Instead, the developer can now sell that same apartment for a second time but at a higher premium. Your reckless greed just contributed to inflating property prices for the next buyer who really needs a home but cannot afford it now. I don’t call that stimulating the economy. I call it selfish idiocy and poor financial management at other people’s expense. In another small example, spending money o...