September 27, 2010

Advice to Average Investors (That is you and me!):

“Don’t trust your government. Do your own research. Use common sense. If you don’t understand the strategy, don’t invest in it.

Harry Markopolos is the man who blew the whistle on Bernie Madoff’s $60 Billion Ponzi Fund. Visit for breaking news, world news, and news about the economy'>Visit for breaking news, world news, and news about the economy'>Here is an breif interview with him:

Mr.Markopolos’ advice to investors should be translated to the non-financial world as well. If you rely solely on the information being presented to you by our government then you’re not getting the full story - ever.

Take responsibility for building your own knowledge base, independently of traditional sources, and implement strategies specifically designed by you, for your own benefit.

Tom Sirois

Great Barrington, MA

September 20, 2010

Important Financial Truths You Should Always Remember

I came across this excellent article that lays out seven “Financial Truths”. I find it difficult to decide on seven, but they have done an excellent job.

Since I am most inspired by Financial Literacy in children, I think #6 Wants are not the same as needs is the best advice. If you can instill this in your children from an early age, then I think the remainder will fall in line, or simply be easy to teach.

This list is:

1. Nobody cares as much about your money as you do.

2. Spend less than you earn.

3. Shop around and simplify where it makes sense.

4. You need to pay yourself first.

5. Budget budget budget.

6. Wants are not the same as needs.

7. Using cash when you can is best.

Hat tip to Dumb Little Man; tips for life.

I’d love to know what you think.

Tom Sirois

Great Barrington, MA