Smart With Your Money?

Bankruptcy is something I hope I never have to endure. The embarrassment. The feeling of worthlessness, or becoming depressed. Wondering how you will ever get back on your feet. I feel for the common person, especially under this economy, who has to sell their car, home, other possessions of value, and maybe even their beloved pet(s). And what about the children of these people? Being uprooted from the familiar to the unfamiliar. Changing schools in the middle of the year. Being the new kid is no fun. Unfortunately, that is the plight of the working poor.

BUT, for the rich I have absolutely no sympathy. If you are an athlete, musician, actor, or some other person making millions of dollars hand over fist, then there is absolutely no reason why you should ever become bankrupt. If you are smart, that is. Now granted when people start making good money, family and friends come out of the woodwork. They give these sob stories about their struggles and how they meant to keep in touch. They pull and tug on your heart strings to no end. But if you are smart, then you would know that you can't help everyone. You have to learn to say the word 'No'. Next, you have to learn to stop listening and hang up the phone. And when the phone rings right away after hanging up, then you have to learn to let the call(s) go to voicemail. Eventually, these leeches will stop bothering you.

Let's talk about the rich dummies. These are the people who flaunt it because they got it. You've seen them, or at least heard about them. They walk around with a glacier on their fingers, or they walk like Fred Sanford because the bling around their neck weighs 100 pounds. These people have an entourage larger than the President of the United States. These people pay all of their entourages expenses, or even have them on their payroll. These people live alone in 6 or 7 bedroom mansions each with their own full bathroom. When I say alone, I mean they have no spouse, children, nor pets. They have a TV in every single room including the shower. They have over 200 pairs of Nike tennis shoes, but only have two feet. They collect luxury cars, but can only drive one at a time. And depending on the state they live in, those cars may be required to have insurance if there is a plate on the car. They have a clothing and jewelry boutique in their closet.

So after spending all their money, what happens when the money runs out? Usually, the people run out. Those family and friends that they felt sorry for go back into the woodwork. The IRS and other creditors come a knocking. Next thing they know, they are at the mercy of a judge hoping to file Chapter 13 bankruptcy in hopes of keeping their possessions. And, I guess they suffer the embarrassment of having the media publish their private business.

I not downing the rich because they have nice things. I envy the rich. I'm just pointing out how some are dumb with their money. There is nothing wrong with sharing from time to time. Just, don't tell anyone what you have. Instead of buying a mega house, buy some land. And then build the mega house on the land. If you don't know where to start on how to buy land, landwatch.com is a great site. Instead of buying 200 pairs of Nike tennis shoes, buy 2 pair and take the remaining money for the other 198 and invest in Nike. Instead of buying a ring that is bigger than your hand, buy a couple of smaller custom made rings. Then invest the remaining money into one of the diamond mines located in Canada. And if you are new to investing, sharebuilder.com is a good way to start. Be smart with your money.

TheOriginalSymton!