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December 2, 2014

Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review

Planning for the long term ---- tomorrow

By Jim Mullen




http://www.JewishWorldReview.com | Bob was not happy. He'd just gotten back from a meeting with his stockbroker, the guy who manages his 401(k).

"He's, like, 21 years old and smart as a whip, and he always shows me these charts showing that if I had bought one dollar's worth of such and such a stock 50 years ago, it'd be worth $50,000 today. He never shows the chart of the stocks that I bought 10 years ago that aren't worth anything today.

"I'm asking him if there's anything we can do to get more income out of the account, and the kid says, 'You have to think long-term. In the long term this, and in the long term that. Over the next 10 years this will happen, and in the next 20 years that will happen.'

"I'm 74. Just how much longer does he think my 'long term' will be? When you're my age, long-term planning is making it to the weekend. I don't need the money when I'm 94; I could use it now. When I'm 94, I might not even know I'm wealthy. And what am I going to spend it on then? Women? Sports cars?"

The funny thing is, when you're 21, the long term also means just making it to the weekend. All this advice about saving money while you're young, when you still have a long term, is great, but there's just one problem: Most 21-year-olds don't have any money. They're tens or hundreds of thousands of dollars in debt from college or trade school. They're not the ones who are buying $70,000 cars and taking spa-cations and European river cruises.

The few young people who have money are wasting it on $80,000 weddings and breast and butt enhancements instead of socking it away for their futures. And why not? You can probably make more by being a waitress at Hooters than you can with a B.A. -- for a few years, anyway. When you turn 30 and become hideous by the extremely low standards of balding, potbellied, drunk-by-noon barflies, the B.A. still has value; the breast implants, not so much.

I can't tell you how many times I've heard fathers of the bride tell me that they offered to make down payments on houses for their daughters if the girls would just elope instead of having big, expensive weddings. I've never heard of one bride-to-be saying 'I do' to that fantastic deal. It's not in our DNA to think about the future, even though, as we should all know by now, the more expensive the wedding is, the shorter the marriage will be.

I have friends who have a retirement plan that they stick to religiously. Without fail, they make sure they put some money away for the future each week by buying $50 worth of lottery tickets. That is long-term thinking. Surely, sometime before they retire they will hit a $200 million jackpot, so no worries there. People win almost each week, so their shot has to come sooner or later. It would be more convenient to hit the jackpot before they retire, but they don't mind working until they win. They're willing to pay their dues.

Each week they have a long discussion about whether they should take the payout as one lump sum or spread it over 20 years. They talk about the tax implications. They worry about how to handle relatives and needy strangers who will try to separate them from their hard-earned fortune. They already know which lawyer and accountant they would hire, which homes they would buy, which bills they would pay off first. They have already decided not to tell anyone when they win until they get their home phone changed to an unlisted number. That's because they know how to plan for the long term. They're not going to make the same silly mistakes Bob did.

Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.

Comment by clicking here.

Jim Mullen is the author of "It Takes a Village Idiot: Complicating the Simple Life" and "Baby's First Tattoo."


Previously:


READING THIS WILL MAKE YOU THIN AND HAPPY!
The Seven Secrets of Success
It's tough living off the gridIt's tough living off the grid
How not to clean the houseIt's tough living off the grid The yellow badge of cowardice
Any way you slice it
Home sweet homeschooling
Don't Head for the Borders
Money ball
Golf and death go hand in hand
Tune in, turn off, unplug
The radar curtain
Is Steve Jobs clouding my privacy?
The gift of garbage
Johnny Intern, Ph.D.
Twenty-foot fences make good neighbors
You must remember this…
TV experts and real news
Hey caller, where's the fire?
My sad cushy life
Pacemaker, don't you mess around with me
Big Brother is skinny
Flight of the snowbirds
This HDTV needs child support
Dear Future: Where's the dome?
Not so elementary, my dear Watson
A vacation revolution
Your call is very unimportant to us
Life: There's no app for that
Bam! Practical kitchen magic
Poisoning myself
Ban Huck Finn in schools --- even the sanitized version!
$38,000 for traffic and weather updates
2011 Predictions: Nostradamus was a hack
2010: A year of annoying junk
Why do bad things happen to stupid people?
Moving on from movie theaters
Money never sleeps, but it does pass out
President Trump kept it classy
Stalking your college kid won't change a thing
Putting my life in ‘Jeopardy’
Mo' government, mo' problems
iLostIt
Dressed for excess
Expert tease
The mysteries of Jersey
‘You are a toilet, where am I?’
Don't we all cheat at the game of life?
What happens when I forget where Google is?
Don't let the doorman hit you on the way out
Picasso fiasco
Purple (hair) ‘Daze’
Let me hear your body talk
Working from work
Babies deserve clean restrooms, too
3-year-old bear-killers are a thing of the past
Money-making ideas on the fly
Collecting and hoarding
Chain of fools
Please come pick up your acting awards, ESPN commentators, you've earned them
You've been superpoked by the U.S. gov't
e-Readin', e-Writin' and e-Rithmatic
A pose by any other name
Warning: Column contains 2010 spoilers
‘He loves only gold, only gold’
Think about direction, wonder why …
Flushing your money down a diamond-studded toilet
More like ‘wack’ Friday
The good, the ad and the ugly
The desert of the real
Let books be large and in charge
I was insulting people way before the Internet
GPS drill sergeant: Left, right, left!
Butterfly in the sky, you make winds go twice as high
Music to my ears it's not
You don't light up my life
Fair or not: Country living is far from ‘Little House’
A parable for the ‘ages’
Top 100 Cable news stories of the century
Green dumb
A developing story
Thinking outside the lunch box
What's good for the goose is good for the scanner
Newspapers will survive, but network TV?
A really big show of generation gaps
When pigs flu
The reports of our decline have been greatly exaggerated
Mergers and admonitions
Invest in gold: little, yellow, different
Stuck in Folsom Penthouse
Collecting karma
Setting loose the creative ‘juice’
It's all in the numbers
You're damaging your brain with practical skills
The real rat pack
The unspeakable luxury of the Park-O-Matic
Gross-ery shopping



© 2009, NEA

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