simple rules of home economics and laws of personal finance
(i) live w/i means, and do not borrow to spend
(ii) pay off credit card debt each and every month
(iii) do not lend amounts you cannot afford to gift away
(iv) own all substantive personal assets in separate legal person names
(v) do not borrow against earning assets until nearly out of cash, and when borrowing, only do to extent well within means of assets' actual earning flow
(vi) do not sign personal guarantees, and never encumber unrelated assets
(vii) guard against the three bombs that can pulverize all lives, liberty and happiness, and they are, in increasing order of potential to completely destroy, (a) creditors, biz counterparties, custodians, trustees, insurers, etc (b) government agencies, and (c) spouse and children - make yourself somewhat bomb-proof, within reason, in alignment with probabilities at different life age, so that destruction, should it happen, would still allow some wherewithal to rise from ashes
(viii) getgold, pileplatinum, stacksilver, so as to have end-of-world-as-we-knew-it zero-state reset button - and may one never require to reboot in such a harsh way, so as to leave the button to the next in line, and may they never need to reboot
gold is not just for guarding against fake communist hu jin tao but is also an antidote against true communist obama;
platinum is not just a perpetual wager, but is most certainly an eternal faith; and
silver is an anti-bacterial goodness, and also vaccinates against wastrel bernanke, and cures against tool giethner |
